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Capital One Spark Cash Review: Simple, Generous Rewards

Earn unlimited 2% back on all purchases.
By Claire Tsosie, Paul Soucy
Last updated on November 12, 2024
Edited by Ryan Lane
Fact checked and reviewed

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Our Take

5.0

NerdWallet rating 

The bottom line:

Unlimited 2% cash back on all purchases, with no spending caps or foreign transaction fees, makes this card an excellent option for businesses that regularly purchase inventory overseas.
Full review

Capital One Spark Cash

Annual fee
$0 intro for the first year, then $95
Regular APR
25.74% Variable APR
Intro APR
N/A
Apply now

on Capital One's website

More details from Capital One

  • For businesses that want to earn 2% cash back on all purchases with the stability that comes with a traditional credit line
  • Earn a one-time $750 cash bonus once you spend $7,500 on purchases within 3 months from account opening
  • Earn unlimited 2% cash back for your business on every purchase, everywhere, no limits or category restrictions
  • Free employee cards, which also earn unlimited 2% cash back on all purchases
  • Rewards won’t expire for the life of the account, and you can redeem your cash back for any amount
  • No foreign transaction fees
  • $0 annual fee for the first year; $95 after that
  • View Rates & Fees

Pros & Cons

Pros

  • High rewards rate
  • No foreign transaction fees

Cons

  • Requires excellent credit
  • High APR

Compare to Other Cards

at Capital One

at Chase

at American Express

Annual fee

$95

Annual fee

$95

Annual fee

$0

Regular APR

25.74% Variable APR

Rates & Fees

Regular APR

20.74%-26.74% Variable APR

Regular APR

17.74%-25.74% Variable APR

Rates & Fees

Intro APR

N/A

Intro APR

N/A

Intro APR

0% intro APR on purchases for 12 months from the date of account opening

Recommended credit score

720-850excellent

Recommended credit score

690-850good - excellent

Recommended credit score

690-850good - excellent

Full Review

The newly relaunched
Capital One Spark Cash
is an outstanding cash-back option for small-business owners. The card features unlimited
2%
cash back on all purchases — no bonus categories to deal with, no spending caps to worry about — and, unlike most cash-back business cards, the Spark Cash does not charge foreign transaction fees (see rates and fees).
There is an annual fee —
$0 intro for the first year, then $95
— which is one of the only drawbacks of this card. The
Wells Fargo Signify Business Cash℠ Card
, for instance, has no annual fee and offers unlimited
2%
cash back (plus a long intro APR period).
Another drawback of the
Capital One Spark Cash
? Capital One Spark business credit cards report all card activity to consumer credit bureaus (excluding the Spark Cash Plus), so spending on this card will show up on your personal credit report. Most other business credit cards only impact your personal credit if you don't pay your bill.
That's an important factor to consider if you'll carry a balance on your business card, which impacts your credit utilization and can negatively impact your personal FICO score.

Capital One Spark Cash
: Basics

  • Annual fee:
    $0 intro for the first year, then $95
    .
  • Sign-up bonus:
    Earn a one-time $750 cash bonus once you spend $7,500 on purchases within 3 months from account opening.
    .
  • Ongoing rewards:
    Earn unlimited 2% cash back for your business on every purchase, everywhere no limits or category restrictions
    .
  • Interest rate:
    The ongoing APR is 25.74% Variable APR
    .
  • Foreign transaction fees: None.
  • Other benefits:
    • Earn 5% cash back on hotels and rental cars booked through Capital One Travel.
    • Free employee cards with the ability to set spending limits for each card.
    • Itemized year-end spending reports.
    • Option to download purchase records quickly and securely to accounting software, including Quicken, Quickbooks and Excel.

Why you might want the
Capital One Spark Cash

Simple, generous rewards on everything

Many business cash-back cards pay 1% on most purchases and a higher rate in certain categories. Those categories usually center on operating costs, such as office supplies, travel, telecommunications, advertising, shipping and so on. The
Capital One Spark Cash
offers
2%
cash back on all purchases. That makes it ideal for businesses whose expenses don't line up with other cards’ categories, or that aren't concentrated in any particular categories.
Further, “2% on all purchases” includes inventory purchases — and, as many small-business operators can attest, inventory spending can easily dwarf operating expenses. Put $10,000 a month in inventory spending on the card, for example, and you've got $2,400 in rewards in a year. There is no limit on the amount of spending eligible for
2%
rewards. You can set up automatic redemption to cash in your rewards when the balance reaches a certain amount, or you can redeem on request.

Big sign-up bonus

The
Capital One Spark Cash
starts you off with a huge sign-up bonus:
Earn a one-time $750 cash bonus once you spend $7,500 on purchases within 3 months from account opening.
That's one of the best business credit card promotions available from a cash-back card.

No foreign transaction fees

Unlike most cash-back credit cards, the
Capital One Spark Cash
doesn't charge foreign transaction fees. That's good if you do a lot of foreign travel — and great if you purchase inventory overseas. Credit card foreign transaction fees are typically 3%, meaning they can easily wipe out the value of any rewards you earn. Not a concern with the
Capital One Spark Cash
.

Why you might want a different card

Annual fee only makes sense for big spenders

The
Capital One Spark Cash
is one of the only major small-business cards to offer unlimited
2%
cash back on all purchases, which makes it easier to justify the annual fee (
$0 intro for the first year, then $95
). But there are plenty of stellar cash-back cards that have no annual fee, including the
Wells Fargo Signify Business Cash℠ Card
(unlimited
2%
cash back) and the
Ink Business Unlimited® Credit Card
(unlimited
1.5%
back).

No 0% APR offer

Unlike most cash-back business cards, the
Capital One Spark Cash
doesn't come with a 0% APR period. If you're planning to carry a balance in the first few months after opening your account, a 0% APR offer could help you save plenty on interest charges.
The
Ink Business Unlimited® Credit Card
, mentioned above, is a good alternative. So is the
The American Express Blue Business Cash™ Card
, which also has an annual fee of
$0
and offers
Earn 2% cash back on all eligible purchases on up to $50,000 per calendar year, then 1%. Cash back earned is automatically credited to your statement. Terms Apply.
Both cards offer a 12-month intro APR period (ongoing APRs vary by card) but both also charge foreign transaction fees.

Is the
Capital One Spark Cash
right for you?

The more money you spend in your business, the more attractive the
Capital One Spark Cash
becomes. If you value simplicity and have expenses high enough to justify the annual fee, it's the cream of the crop. If you don't have much in the way of business expenses, though, a no-fee card is a better option.
To view rates and fees of
The American Express Blue Business Cash™ Card
, see this page.

Apply now

on Capital One's website

Frequently Asked Questions

New elevated offer

 
American Express® Business Gold Card
American Express

American Express® Business Gold Card

Rates and Fees

NerdWallet Rating  
4.6
Bonus Amount  

100,000

Read Review
Apply now

on American Express' website

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