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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!
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 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.
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.
With the Capital One® Spark® Cash Select for Business Card, you get plenty of features and benefits. The most popular ones are:
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:
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.
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.
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:
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.
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.
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.
No! Capital One rewards never expire, meaning that you can keep them stacking as you make purchases.
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%.
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.