Capital One Spark Cash review: Simple cash back for businesses but lacking benefits
Editor's Note
Capital One Spark Cash overview
The Capital One Spark Cash card offers unlimited 2% cash back on all purchases with no spending caps. Aside from the simplistic cash-back earning structure, the card lacks standout benefits and carries a $95 annual fee after the introductory $0 annual fee in the first year. Card rating*: ⭐⭐½
*Card rating is based on the opinion of TPG's editors and is not influenced by the card issuer.
Cash-back credit cards give businesses the ultimate flexibility. The cash back can be used to book travel, pay expenses or buy anything useful to the business.
The Spark Cash is a revamped version of the discontinued Spark Cash for Business. It gives businesses an unlimited 2% cash-back credit card option with a fixed credit line, unlike the similar Capital One Spark Cash Plus card, which has no preset credit limit and must be paid in full every month.
The TPG recommended credit score for this card is 740 or higher. However, it may be possible to get approved with a lower score.
Let's dive into whether the Spark Cash should be in your business's wallet.
The information for the Spark Cash for Business has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.
Capital One Spark Cash pros and cons
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Capital One Spark Cash welcome offer
New Spark Cash cardholders can earn $1,000 after spending $10,000 in the first three months from account opening.
This is one of the better welcome offers we typically see on a cash-back business card. That said, smaller businesses will want a solid strategy to meet the spending requirement.
Related: The best time to apply for these popular Capital One credit cards based on offer history
Capital One Spark Cash benefits
Despite having an annual fee after the first year, the Spark Cash severely lacks standout benefits and leaves much to be desired.
The Spark Cash includes benefits like employee cards at no additional cost and itemized year-end summaries to help you manage your business.
While those benefits aren't eye-popping and are standard on most business cards, they could be useful for lots of small businesses. Beyond that, however, this card doesn't offer much to justify having a $95 annual fee after the first cardholder year.
Related: How to apply for a Capital One business credit card
Earning cash back on the Capital One Spark Cash
Simplicity is the name of the game with earning cash back on the Spark Cash. You'll earn unlimited 2% cash back on all eligible purchases.
Plus, cardholders will earn 5% cash back on hotels and rental cars booked through Capital One Business Travel.
This is a decent card to consider for business owners who want to keep their earnings simple. Getting at least 2% back on all purchases is a decent return on your spending.
Related: Capital One miles: How to earn, redeem and transfer rewards
Redeeming cash back on the Capital One Spark Cash
Redeeming cash back on the Spark Cash is simple. Capital One allows you to redeem your rewards for any amount so you can tailor your redemptions to meet your business's needs.
While cash back isn't as lucrative as earning points and miles, many people favor it for its simplicity and straightforwardness. Even if you're a points and miles fan, having a cash back card on hand is useful for times when you don't have a lot of travel planned.
Related: How to choose a cash-back credit card
Which cards compete with the Capital One Spark Cash?
If you want to earn transferable rewards or better benefits and perks, or if you don't want an annual fee beyond the first cardmember year, there are other cards that compete with or even outclass the Spark Cash that you may want to consider.
- If you prefer no annual fee: The American Express Blue Business Cash™ Card has no annual fee (see rates and fees) and earns 2% cash back on all purchases (on up to $50,000 per year, then 1% thereafter). Cash back earned is automatically credited to your statement. To learn more, read our full review of the Blue Business Cash card.
- If you prefer earning transferable points: The Ink Business Preferred® Credit Card (see rates and fees) has a $95 annual fee and earns 3 Ultimate Rewards points per dollar spent on the first $150,000 spent in combined purchases each year on travel; shipping purchases; internet, cable and phone services; and advertising purchases made with social media sites and search engines (and 1 point per dollar spent on all other purchases). These Ultimate Rewards points can be redeemed for outsize value by utilizing Chase's excellent roster of transfer partners. To learn more, read our full review of the Ink Business Preferred card.
- If you want lounge access: The Capital One Venture X Business carries a $395 annual fee and earns at least 2 miles per dollar spent on all purchases, which can redeemed with Capital One's extensive network of 15-plus transfer partners. Cardholders receive great lounge access, a $300 statement credit when booked through Capital One Business Travel, 10,000 bonus miles every account anniversary, and solid travel protections and perks. To learn more, read our full review of the Venture X Business.
For additional options, check out our full list of the best business cards.
Related: Is the Venture X Business worth it?
Is the Capital One Spark Cash worth it?
The Spark Cash is a decent business offering that earns an unlimited 2% cash back. However, with lackluster benefits and an annual fee after the first year, businesses might be better suited with another card, especially considering there are other cards that offer 2% cash back with better benefits without an annual fee.
Bottom line
If you want a business card that offers an easy-to-remember unlimited 2% cash back, the Spark Cash is a solid option. Despite its simplicity, it is limited by its mediocre benefits and an annual fee after the first year.
If you want to earn transferable rewards or higher cash-back rates in broad categories, you might want to consider another business card.
Learn more: Capital One Spark Cash
Related: Reasons to get a business credit card
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.
TPG featured card
at Capital One's secure site
Terms & restrictions apply. See rates & fees.
| 5X miles | Earn 5X miles on hotels, vacation rentals and rental cars booked through Capital One Travel |
| 2X miles | Earn unlimited 2X miles on every purchase, every day |
Pros
- Stellar welcome offer of 75,000 miles after spending $4,000 on purchases in the first three months from account opening. Plus, a $250 Capital One Travel credit to use in your first cardholder year upon account opening.
- You'll earn 2 miles per dollar on every purchase, which means you won't have to worry about memorizing bonus categories
- Rewards are versatile and can be redeemed for a statement credit or transferred to Capital One’s transfer partners
Cons
- Highest bonus-earning categories only on travel booked via Capital One Travel
- LIMITED-TIME OFFER: Enjoy $250 to use on Capital One Travel in your first cardholder year, plus earn 75,000 bonus miles once you spend $4,000 on purchases within the first 3 months from account opening - that’s equal to $1,000 in travel
- Earn unlimited 2X miles on every purchase, every day
- Earn 5X miles on hotels, vacation rentals and rental cars booked through Capital One Travel
- Miles won't expire for the life of the account and there's no limit to how many you can earn
- Receive up to a $120 credit for Global Entry or TSA PreCheck®
- Use your miles to get reimbursed for any travel purchase—or redeem by booking a trip through Capital One Travel
- Enjoy a $50 experience credit and other premium benefits with every hotel and vacation rental booked from the Lifestyle Collection
- Transfer your miles to your choice of 15+ travel loyalty programs
- Top rated mobile app