Capital One Spark Cash Select review: Business cash back with no annual fee
Editor's Note
Capital One Spark Cash Select overview
The Capital One Spark Cash Select is a no-annual-fee business card that's a good option for small-business owners who want to earn cash back at a flat rate on all their purchases. A sibling to the Capital One Spark Cash Plus card, the Spark Cash Select earns an unlimited 1.5% back on all purchases. Still, some business owners will be disappointed by the limited benefits the Spark Cash Select offers. Card Rating*: ⭐⭐⭐
*Card rating is based on the opinion of TPG's editors and is not influenced by the card issuer.
When it comes to flexible credit card rewards, cash back is king. You can use your rewards to fund travel, upgrade your office furniture or order lunch to celebrate completing a big project.
If you want to earn your cash back without paying an annual fee, the Spark Cash Select could be the perfect card for your business. TPG recommends a credit score of 740 or higher.
Let's dive into what this card can offer you and your business.
Spark Cash Select pros and cons
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Spark Cash Select welcome offer
Currently, new cardholders earn a one-time $500 cash bonus after spending $4,500 within the first three months of opening an account with this card.
This $500 bonus is impressive, especially considering that cash-back cards generally have lower welcome offers. Since you don't have to pay an annual fee, this bonus is money that goes right back into your pocket — or business.
Related: The best time to apply for these Capital One cards based on offer history
Spark Cash Select benefits
A standout benefit of the Spark Cash Select is that it doesn't charge foreign transaction fees, so this is a good card to have in your wallet if your business travel takes you abroad.
You'll also get some basic perks like year-end spending summaries to make tax season easier, extended warranty on eligible items and roadside assistance should you need it. Still, the Spark Cash Select's perks are considerably light compared to what some of our other favorite business credit cards have to offer.
Related: 10 Considerations for your small-business credit card strategy
Earning cash back on the Spark Cash Select
One of the best things about the Spark Cash Select is its simple earning structure. Cardholders earn 5% back on hotels and rental cars booked through Capital One Travel and an unlimited 1.5% cash back on all other purchases.
If you spend a large portion of your budget on purchases that don't earn any bonus points with most business cards, this flat earning rate is a great way to fill in the gaps in your business spending reward strategy.
Related: Why you should get a fixed-rate rewards credit card
Redeeming cash back on the Spark Cash Select
Just like earning rewards, redeeming your Spark Cash Select rewards is simple and straightforward. You can redeem your cash back rewards for any amount, and the rewards won't expire as long as your account is open.
A drawback to this card is that you won't have the option to get a higher value from your rewards by transferring them to a valuable travel partner. But if you don't want to spend time and energy learning how to maximize your rewards and planning your redemptions, the simplicity of your cash back is attractive.
Related: How to redeem cash-back rewards from your credit card
Which cards compete with the Spark Cash Select?
If you want to earn a higher return on your business expenses or have more options for redeeming your rewards, one of the following cards will likely be a better fit.
- If you spend enough to justify paying an annual fee: The Capital One Spark Cash Plus earns a higher 2% back on all purchases but has a $150 annual fee. You'll get your annual fee refunded after you spend $150,000 each year, so this is a better option if you spend enough to reap this card's additional benefits. For more details, check out our full review of the Spark Cash Plus.
- If you want more reward redemption options: The Capital One Spark Miles Select for Business earns rewards as miles, allowing you to transfer your rewards to any of Capital One's 15-plus airline and hotel partners. For more details, check out our full review of the Spark Miles Select.
- If you want to earn Chase Ultimate Rewards: The Ink Business Unlimited® Credit Card also earns an unlimited 1.5% cash back on all purchases. But if you also have a card that allows you to transfer your rewards to travel partners, like the Chase Sapphire Preferred® Card or the Ink Business Preferred® Credit Card, you can transfer the rewards you earn with the Ink Business Unlimited as well. For more details, check out our full review of the Ink Business Unlimited.
For additional options, see our full list of the best no-annual-fee business cards and the best business cash-back cards.
The information for the Spark Miles Select for Business card has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.
Related: Credit card showdown: Capital One Spark Cash Plus vs. Spark Miles for Business
Is the Spark Cash Select worth it?
The Spark Cash Select allows you to get the full value of your welcome bonus and cash-back rewards without having to worry about justifying an annual fee. However, if you spend enough to justify an annual fee or can maximize the bonus categories on other credit cards, this card isn't likely to spark joy.
Related: How to apply for a Capital One business credit card
Bottom line
If you want a business card that earns cash-back rewards at a flat rate and doesn't have an annual fee, the Spark Cash Select is a great option. But if you have significant business expenses, you'll want to opt for a card with higher earning potential and more substantial benefits.
Learn more: Capital One Spark Cash Select
For Capital One products listed on this page, some of the benefits may be provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply.