Capital One® Spark® Cash Select for Business Review

Capital One Spark Cash Select Review
Enjoy 1.5% Cash Back on every business purchase you make, no annual fees, and a lucrative sign-up bonus with the Capital One Spark Cash Select for Business Credit Card.
  • Annual Fee:
    $0
  • Regular APR:
    13.24% - 19.24% Variable
  • Credit Score:
    720 - 850

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When you’re running a business, you have plenty of options when it comes to lines of credit. However, some tend to stand out more than others.

One of those cards is the Capital One® Spark® Cash Select. This card is ideal for small business owners looking to earn a decent amount of cash back on all their purchases.

If you’re looking for more information about this card, keep reading. We’re covering everything you need to know in our review!

Capital One® Spark® Cash Select Pros and Cons

Pros:

  • Generous Rewards: The Capital One® Spark® Cash Select for Business earns 1.5% back on all purchases.
  • Sign-up Bonuses: When you spend $3,000 in the first 3 months, you’ll receive a $200 bonus.
  • No Annual Fee: The card charges no annual fee for users.
  • 0% APR: You receive 0% APR for the first 9 months when you receive the card.
  • Free Employee Cards: Extra cards for employees of the business come at no extra charge.
  • No Foreign Transaction Fees: If your business is doing work abroad, you face no foreign transaction fees with this card.

Cons:

  • No Introductory APR for Balance Transfers: The 0% APR offer is only good on new lines of credit. You cannot receive it if you’re conducting a balance transfer.
  • No Bonus Spending Categories: The cash back rate is 1.5%. There aren’t any purchases that can earn more than that.
  • High APR Compared to Other Offers: The APR after the introductory rate expires is 13.99%, 19.99%, or 23.99% based on your credit score.

Capital One® Spark® Cash Select for Business Review

  • Annual Fee: $0
  • Foreign Transaction Fee: $0
  • Regular APR: 13.24% – 19.24% Variable 
  • Rewards: Rewards are earned by making purchases. The card offers a flat 1.5% cash back across the board for using it. This can be great if your business makes lots of varied purchases. However, if you find that you’re only making purchases in one industry, a reward-specific card may be better suited for your business.
  • Sign-Up Bonus: Capital One offers a one-time sign-up bonus of $200 on this card. To be eligible, you must make purchases equal to or greater than $3,000 in the first three months of having it.

Capital One® Spark® Cash Select for Business Rewards

When it comes to a business credit card, it’s assumed that you’ll be doing quite a bit of spending, of course.

Of course, the part everyone wants to know about is the rewards. Here are how you earn and redeem rewards on the Capital One® Spark® Cash Select for Business Card.

Earning Rewards

Earning rewards using this card is simple. You just have to make purchases. The card provides 1.5% cash back on every purchase made with it.

To maximize the rewards on the card, expect to make all your purchases with it. There are no bonus areas for the Capital One® Spark® Cash Select for Business card, unfortunately.

Redeeming Rewards

Thankfully, Capital One makes redeeming rewards easy! All you have to do is sign into your Capital One portal using your account information.

There, you’ll be given the option to redeem the cash back you’ve earned in one of two ways.

  • Credit: You can have the cash back directly applied to your credit card balance. This is the most popular option, as it takes no time, and it reduces your outstanding balance.
  • Check by Mail: If you’d rather receive the cash back in a way you can use it outside of your account, you can request a paper check. Capital One will mail you a check for the cash back balance you’ve earned using the card.

Capital One® Spark® Cash Select for Business Features and Benefits

With the Capital One® Spark® Cash Select for Business Card, you get plenty of features and benefits. The most popular ones are:

  • Earn 1.5% Cash Back
  • $200 Cash Bonus
  • No Annual Fee

All of these benefits make this card a very appealing option to small business owners. The lack of an annual fee is reason enough for some to apply for the card.

The card also comes with quite a few more benefits, however. Some of the lesser talked about benefits are listed below:

  • Free employee cards come with the card. This means that your employees that need a company card can obtain one at no cost to you or the business.
  • No foreign transaction fees make doing business internationally a breeze.
  • The card comes with extended warranty protection.
  • An auto rental collision damage waiver for when you’re on the go.
  • Travel and emergency assistance services are offered to cardholders while traveling.

How Does Capital One® Spark® Cash Select Compare to Other Business Cards?

With all the different business credit cards on the market, you might be wondering how this card compares with others. We’ve taken a look at three other cards that you may want to consider for your business, as well.

#1. Capital One Spark Miles vs. Capital One® Spark® Cash Select for Business

If you’re looking for a more flexible card than the Capital One® Spark® Cash Select, the Spark Miles card may be for you.

With the Spark Miles card, you earn double the miles for every dollar spent. This can add up quickly if you make a lot of purchases.

This card is designed with the traveling business owner in mind. The card comes with no annual limit on miles earned, thankfully. The process to redeem miles is just as easy as earning cash back, too.

However, it must be kept in mind that these cards aren’t the same in many areas. For example, the Spark Miles card comes with a $95 annual fee.

The fee is waived in the first year. It does come with a $500 sign-up bonus, as well. However, you have to spend $4,500 to earn it.

#2. Ink Business Preferred® Credit Card vs. Capital One® Spark® Cash Select

Chase offers the Ink Business Preferred card as a competitor of Capital One’s Spark Cash card. However, the Ink Business Preferred® Credit Card comes with much higher cash back rewards. Small business owners are eligible for cash back on purchases up to:

  • 5% when money is spent at office supply stores, as well as on phone, cable, and internet services up to $25,000
  • 2% when money is spent at gas stations and restaurants up to $25,000
  • 1% on all other eligible purchases with no limit

The first year using the card comes with 0% APR, with rates varying from 15.99% to 23.99%

If you want a card that offers cash back flexibility, you’ll want to choose the Capital One® Spark® Cash Select for Business card.

If you know your business’s spending ahead of time, you may get better returns from the Ink Business Preferred card.

#3. Business Platinum Card® from American Express vs. Capital One® Spark® Cash Select

If you’re looking for low fees, then the Business Platinum Card may not be for you. The annual fee for this card is a whopping $595, with the fee increasing to $695 in 2022.

However, if your business makes a lot of purchases, then you may be interested in the rewards system.

For new cardholders, they can receive 120,000 points, which is roughly $2,400. However, it’s not suitable for all small businesses, thanks to the high purchase minimum.

If you have a small business that’s growing rapidly, the American Express offering may be for you. If you’re just starting out, though, stick with the Spark Cash Select card.

Frequently Asked Questions

Is Capital One® Spark® Cash Select for Business a Good Credit Card?

The Spark Cash Select card is a great option if you’re running a small business with carried spending. You’re able to earn 1.5% cash back on all purchases. This makes it very useful for small business owners just getting started.

Do Cash Back Rewards Expire?

No! Capital One rewards never expire, meaning that you can keep them stacking as you make purchases.

What Credit Score Do You Need for Capital One® Spark® Cash Select?

To be eligible for the Capital One® Spark® Cash Select card, you have to have a credit score of at least 670. This qualifies you for the highest APR of 23.99%. With higher scores, however, you are eligible for a drop down to 13.99%.

Bottom Line: Capital One® Spark® Cash Select for Business

When it comes down to it, the Capital One® Spark® Cash Select for Business card is a great choice for business owners who need a little flexibility.

It has low fees and earns cash back on all purchases. This makes it great for a business that’s just getting started since you may not know what your business’s spending is like just yet.

Drew Cheneler
Drew Cheneler

Drew is our Co-Founder and is a recognized Credit, Small Business, and Personal Finance Expert. He has been featured in CNBC, Fox Business News Section, The Huffington Post, Business.com, Moneyunder30, US Chamber of Commerce, and more. He is known for breaking down complex personal finance topics into action-oriented advice, so you can make the most of your hard-earned money. Drew attended the U.S. Coast Guard Academy where he majored in Business Management with a focus on Information Systems.