Spark Cash from Capital One Credit Card Review

Best for: Small business owners who want a simple rewards card with no limits.   

Spark Cash from Capital One puts you in control of your small business’ rewards. With 2% cash back on every purchase with no limit, you’ll put a little cash back into your coffers every time you invest in your business. Spark Cash lets you redeem your rewards any time you want in any amount — no need to save your rewards to hit a minimum.

Spark Cash goes to work as soon as it joins your team. You’ll earn $500 in bonus cash after you, and your employees spend $4,500 on purchases in the first three months. With no annual fee for the first year and only $95 every year after, Spark Cash will treat your small business well with little expense. 

The Basics 

  • APR: 18.49% variable APR on purchases.
  • Annual Fee: $0 for the first year, then $95 every year after.
  • Reward Rates: Earn 2% cash back on every purchase with no limit on how much you can earn.
  • Intro Offer: Receive $500 bonus cash after you spend $4,500 on purchases within the first three months.

Standout features 

  • Rewards don’t expire: Your business’ cash back rewards don’t expire as long as your account remains open. You can save them as long as you need to take your staff on a retreat, pay for your company Christmas party, or boost the cash reserves in your business checking account.
  • No redemption minimum: There’s no set limit you have to reach before redeeming your rewards, meaning you can cash in whether you have $5 or $250.
  • Fraud protection: If you or one of your employees ever lose a card or have one stolen, you won’t be held liable for any fraudulent purchases, and you’ll be notified automatically when Capital One notices potentially fraudulent purchases. 
  • Cards for your team at no extra cost: Keep track of your team’s spending on one account. Capital One will never charge you for additional employee cards as your business grows. 
  • Flexible payments: You’ll have the option to choose your own due date, giving you the flexibility to match your credit card payment to your company’s cash flow. 
  • Spending limits: Cap how much your employees can spend on their company credit card each month with customized limits for every employee card on your account.

Best way to use this card 

Part of Spark Cash’s allure as a small business rewards card is its simplicity. You have enough to worry about already as a business owner. You shouldn’t have to track revolving rewards categories or remember which types of purchases earn you more cash back. 

With a flat 2% cash back on every purchase, this card lets you focus on what’s most important to your business while earning rewards every time you use your card. To maximize your rewards on an ongoing basis without even thinking about it, set up automatic payments for recurring monthly expenses like your office internet and phone plans. Of course, don’t neglect the sign-up bonus. After you open your account, be sure to spend $4,500 within the first three months so you can earn $500 in bonus cash on top of the 2% you’ll earn just for making the purchases. 

After you earn rewards, Capital One makes it easy to redeem them. You can either choose to cash them in for a statement credit to lower your next month’s credit card bill or have a check mailed to you. You won’t find any minimums for redeeming your cash back rewards, giving you ultimate flexibility on how you use your cash back to grow your business. 

In a nutshell 

Spark Cash from Capital One should be a top choice for small business owners who want to put some cash back into their company’s pockets without having to worry about tracking categories or activating bonus rewards every quarter. 

At 2% cash back on every purchase with no limit, Spark Cash delivers rewards few small business credit cards can rival. When you combine the great rewards rate with the $500 sign up bonus after you spend $4,500 in the first three months, you have a real winner for caching rewards to grow your business. 

However, low spenders might want to look elsewhere for a card that doesn’t charge an annual fee. If your business is lean and bootstrapped where your largest recurring expense is your internet bill, you might not earn enough rewards throughout the year to justify an annual fee. On the other hand, businesses with big spenders (and the cash flow to cover it every month) can set aside some serious cash thanks to Spark Cash’s ability to provide rewards that don’t expire as long as the account is open.

Trevor Wallis

Contributing Writer

Trevor Wallis is a St. Louis-based personal finance writer who teaches people how to achieve freedom through good money practices. He’s written for The Simple Dollar, Bankrate, NextAdvisor, Rewards Credit Cards and Online Loans. When he isn’t writing, he’s roasting specialty coffee and planning new ways to use credit card rewards to explore the world with his wife and newborn son.