Capital One Spark Cash Plus review: Is the boosted buying power worth a higher fee?
An excellent catch-all card for everyday business expenses — but at a price
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Snapshot
4.7
Bottom line
If you're a big spender looking for a low-maintenance business rewards card with a reasonable annual fee, the Spark Cash Plus is worth a look.
BEST FLAT-RATE BUSINESS CARD
Intro offer
$2,000 cash back
Rewards Rate
2% - 5%
Annual fee
$150
Regular APR
N/A
4.0
Cardholder rating
Extra perks
Online tools
Customer service
Information safe
4.7
Bankrate score
Rewards value
APR
Rewards flexibility
Features
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Capital One Spark Cash Plus Overview
The Capital One Spark Cash Plus card offers small-business owners boosted buying power with no preset spending limit, a sizable welcome bonus and a chance to get your annual fee refunded each year you spend $150,000 or more. With an unlimited flat 2 percent cash back rate, you can earn rewards simply while building a substantial nest egg.
Yet, the card's annual fee is higher than many cash back business cards’ fees, which could be hard to offset. The Spark Cash Plus also requires complete pay-off every billing cycle since it’s a charge card. This makes it a poor choice if you have a small budget or need to finance purchases or carry a balance to free up cash flow. And although the card's flat cash back rate is generous, it may hold you back if you spend heavily in specific business expense categories, as several competing small-business cards offer 3 percent to 5 percent back on purchases like online advertising, office supplies, gas or travel.-
Rewards
- Unlimited 5 percent cash back on hotels and rental cars booked through Capital One Travel
- Unlimited 2 percent cash back on every purchase
Expert Appraisal: Good
See our expert analysis -
Welcome offer
- $2,000 cash back once you spend $30,000 in the first 3 months of account opening.
- Additional $2,000 cash bonus for every $500,000 spent in the first year.
Expert Appraisal: Typical
See our expert analysis -
Rates and fees
- Annual fee: $150 (can be refunded every year you spend at least $150,000)
- Cash advance fee: 5% of the amount of the cash advance, but not less than $5
- Late payment fee: 2.99 percent of the unpaid balance of your minimum payment
- See Rates & Fees
Expert Appraisal: Exceptional
See our expert analysis -
Other cardholder perks
- Extended warranties* on eligible purchases made with your card
- Roadside assistance*
- Fraud coverage for unauthorized charges
- No preset credit limit
Expert Appraisal: Typical
See our expert analysis
Capital One Spark Cash Plus pros and cons
Pros
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Cash back points are easy to rack up, especially when free employee cards can also earn rewards.
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It’s a charge card, so there is no APR or defined credit limit to hold back your spending.
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You can offset the annual fee every year you spend at least $150,000.
Cons
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The annual fee might be costly for modest spenders.
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Since it’s a charge card, you must pay your balance in full each billing period or be subject to penalty fees.
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Excellent credit is recommended to be eligible for this card.
Why you might want the Capital One Spark Cash Plus
Starting a business isn’t cheap, and it's not organized by bonus categories. The Capital One Spark Cash Plus is a great card for everyday business owners who don’t want to spend money on different products and services to maximize a tiered rewards system. A flat-rate card like the Spark Cash Plus can simplify your business spending without sacrificing too much in rewards value.
Rewards rate: A generous flat rate for all purchases
Your and your employees’ cards will earn unlimited 2 percent cash back on almost all your business purchases with no spending caps or bonus categories to juggle. You’ll also get 5 percent cash back when you book a hotel or rental car through Capital One Travel.
The only expenses that Capital One counts as ineligible for rewards are products you return, cash equivalent transactions and account costs like cash advances and checks for accessing your account.
Redemptions: Simple, flexible cash back options
Few issuers simplify rewards redemption like Capital One. Busy business owners can set their cash back to automatically redeem once their balance reaches a certain threshold ($25, $50, $200, $500 or $1,500) or at a selected time each calendar year. Although a direct bank account deposit is not included in the card’s redemption choices, you can receive your rewards as:
- A statement credit
- A check
- A gift card
- Checkout payments through Amazon.com and PayPal
- Travel bookings through Capital One Travel
Many cardholders can find a way to make the Spark Cash Plus work for them, but you can also convert your Spark Cash Plus cash back into Capital One Miles if you have a Capital One business travel card. Business travelers will certainly want to consider this option because Capital One Miles can be worth an average of 1.7 cents per mile with the right transfer partner, according to Bankrate’s latest valuations.
Credit limit: No preset spending limit
Businesses that prefer a flexible line of credit will find the Spark Cash Plus a suitable choice. As a charge card, it doesn’t have any preset spending limit. Whether your business spends $5,000 in one month or $25,000 in the next, you won’t need to worry about hitting a credit limit — as long as you pay your balance in full at the end of each billing cycle.
This doesn’t mean you have unlimited spending, however. The amount you can spend will depend on your spending behavior, habits, payment history and credit score. If you’re a responsible borrower, Capital One will work with you by giving you access to the credit limit that works for your business.
Why you might want a different business card
The Spark Cash Plus carries a lot of value for big spenders, but if you’re not spending at a pace that’s equal to the card’s welcome offer spending requirement, it might not be the right pick for you. This is especially true considering there are cards with the same flat rewards rate that don’t require an annual fee and high credit score requirements.
Welcome offer: Great value but only for big spenders
Although this card carries a very valuable welcome offer, it comes with a huge spending requirement. You can earn a one-time cash bonus of $2,000 once you spend $30,000 in the first three months. You can also earn an additional $2,000 cash bonus for every $500,000 spent in the first year, which can be earned multiple times. While valuable, this is a big spending requirement, especially considering the short timeframe. If you have a big purchase coming up or your business spends significantly, now is a great time to apply if you think you can responsibly meet the spending requirements.
Annual fee: High fee for average rewards
This card’s annual fee is relatively high, especially considering you can find this card’s rewards rate on other card options with no annual fee.
Flat-rate rewards credit cards are a great way to scoop up extra rewards on purchases that fall outside of tiered categories, but unless you spend a substantial amount each year, they earn rewards quite slowly. For instance, you won’t break even on rewards earnings with this card until you spend more than $7,500 on general purchases for your business. With the bonus category, that figure lowers to $3,000 to help offset the annual fee cost. This might not seem like a high spending requirement based on your business, but the card won't be worth it unless you spend at least this amount each year on business purchases or travel.
If you spend less than $50,000 annually, the Spark Cash Plus may not suit you well. A card like the American Express Blue Business Cash™ Card offers 2 percent back on all purchases up to $50,000 (then 1 percent back) per calendar year, and with no annual fee, the Blue Business Cash carries much better long-term value for modest spenders.
Rewards: Tiered rewards may fit your business better
The Spark Cash Plus is a good pick for the cardholder who values simplicity. However, at this credit level, you might want to think more critically about maximizing your rewards. A strong, tiered rewards card could net you more cash back or rewards without much more leg work.
For instance, the no-annual-fee Ink Business Cash® Credit Card is a tiered category rewards card that requires good credit and earns 5 percent cash back on the first $25,000 you spend in combined purchases at office supply stores and on internet, cable and phone services. It also earns 2 percent cash back on the first $25,000 in combined purchases at gas stations and restaurants. After you reach the $25,000 spending cap each account anniversary year, you’ll earn 1 percent back on all purchases.
Depending on where you spend the majority of your money, you might be able to earn more cash back with the Ink Business Cash than with the Spark Cash Plus. If you max out the 5 percent category, the Ink Business Cash will earn $1,250 in cash back. The Spark Cash Plus would earn just $500 at 2 percent back for the same spending cap.
First-year value vs. ongoing value
Although the Spark Cash Plus card comes with a high $150 annual fee (See Rates & Fees), it also gives you a chance to have that fee refunded (if you spend at least $150,000 each year) while enjoying a generous flat rewards rate. To realize the card’s full rewards potential, you not only need to spend a minimum of $30,000 in your first three months to earn the sign-up bonus but also a total of $150,000 per year to have the annual fee refunded.
That said, even with a more modest $40,000 annual spend, you should still come out on top. If you spent $30,000 in your first three months toward a total of $40,000 per year, you'd still wind up with over $1,000 in cash back in year one when you subtract the annual fee. Even in year two, you’d still enjoy plenty of breathing room to cover the card’s annual fee based on this spending amount.
| Benefits and costs | First-year value | Ongoing value (no welcome offers) |
|---|---|---|
| Yearly rewards* | +$4,000 | +$4,000 |
| Welcome offers | +$2,000 value (once you spend $30,000 in the first 3 months) | — |
| Perks (of monetary value) | +$150 (refunded annual fee after spending $150,000 in a year) | +$150 (refunded annual fee after spending $150,000 in a year) |
| Annual fee | -$150 See Rates & Fees | -$150 See Rates & Fees |
| Total value | $6,000 | $4,000 |
*Based on a $200,000 annual spending assumption.
We tried it: Here’s what our experts say
Credit card expert and Bankrate contributor Holly D. Johnson interviewed several cardholders for their firsthand experience with the Capital One Spark Cash and how it’s helped them manage their small businesses. Several business owners chose it over rival cards due to its flexible spending limit and straightforward, but lucrative, rewards program.
“If one month I need to spend $3,000 and the next month spend $15,000, I can do it without stressing [over having] enough available credit. When I can worry about one less thing, I am a happy man.”
— Max Marvelous, money coach
“I found several [cards] that offered lucrative cash back amounts, but only up to a few thousand dollars — then you get something like 1 percent cash back or no rewards at all on your purchases. The Spark Cash Plus gives me 2 percent back on everything with no limitations. I like that simplicity.”
— Jeffrey Gabriel, co-founder of Saw.com
“I signed up specifically for the 2 percent cash back. The 2 percent cash back gives us a little boost on our profit margins, which helps us offer more competitive pricing…. We pay off our balance every month and use our rewards to help offset that balance.”
— Jeff Neal, operations manager at Critter Depot
How the Capital One Spark Cash Plus compares to other business cards
Few business cards offer 2 percent cash back on all other purchases, and even fewer offer extensive purchasing power like the Spark Cash Plus. However, these alternative picks may be a better value if your business calls for large purchases or a lower annual fee.
Annual fee
Intro offer
$2,000 cash back once you spend $30,000 in the first 3 months. Earn an additional $2,000 cash bonus for every $500K spent during the first year
Rewards rate
Earn unlimited 5% cash back on hotels and rental cars booked through Capital One Travel. Earn unlimited 2% cash back on every purchase, everywhere—with no limits or category restrictions.
Recommended Credit Score
A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.
Annual fee
Intro offer
Earn $1,000 bonus cash back after you spend $10,000 on purchases in the first 3 months from account opening.
Rewards rate
Unlimited 5% total cash back on travel purchased through Chase Travel℠. Unlimited 2.5% total cash back on purchases of $5,000 or more. Unlimited 2% cash back on all other business purchases.
Recommended Credit Score
A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.
Annual fee
Intro offer
Earn a $250 statement credit after you make $3,000 in purchases on your Card in your first 3 months.
Rewards rate
Earn 2% cash back on all eligible purchases on up to $50,000 per calendar year, then 1%. 1% cash back on all eligible purchases after spending $50,000 per calendar year.
Recommended Credit Score
A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.
Best cards to pair with the Capital One Spark Cash Plus card
Who is the Capital One Spark Cash Plus card right for?
Bankrate’s Take — Is the Capital One Spark Cash Plus card worth it?
The Capital One Spark Cash Plus flexes a unique edge over other business cards and charge cards by carrying one of the best flat cash back rates and sign-up bonuses on the market. Its boosted buying power and sign-up bonus are a step up from its no-annual-fee counterparts and its predecessor, the Spark Cash for Business.
However, the card's cost and charge card structure may not be worth it for small business owners who want a low-cost, flat-rate cash back card or may need to carry a balance occasionally. Considering the Spark Cash Plus card’s benefits outside the above features are strikingly similar to its no-annual-fee cash back business cards, the fee may be hard to justify for some cardholders — unless your business spends enough to nab the annual fee refund.
Few business cards offer such a high cash back rate on all purchases and a streamlined rewards experience, so this card can have remarkable stand-alone value for small business owners with big expenses.
* 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.
How we rated this card
We rate credit cards using a proprietary card scoring system that ranks each card’s estimated average rewards rate, estimated annual earnings, welcome bonus value, APR, fees, perks and more against those of other cards in its primary category.
Each card feature is assigned a weighting based on how important it is to people looking for a card in a given category. These features are then scored based on how they rank relative to the features on other cards in the category. Based on these calculations, each card receives an overall rating of 1-5 stars (with 5 being the highest possible score and 1 being the lowest).
We analyzed over 150 of the most popular rewards and cash back cards to determine where each stacked up based on their value, cost, benefits and more. Here are some of the key factors that influenced this card’s overall score and how the score influenced our review:
Frequently asked questions
What cardholders think
Capital One Spark Cash Plus
In May 2024, Bankrate collaborated with third-party SliceMR to survey 6160 cardholders nationwide. Bankrate and Slice MR collected, averaged and presented website analytics and cardholder responses to six questions on a 5-point scale. Responses are based on individual cardholder’s product details, and therefore cannot be verified for accuracy. Users received an incentive for their feedback. User ratings are unedited and have not been reviewed or approved by credit card issuers, nor do these ratings reflect Bankrate’s own reviews of these cards.
Community Reviews
* See the online application for details about terms and conditions for these offers. Every reasonable effort has been made to maintain accurate information. However all credit card information is presented without warranty. After you click on the offer you desire you will be directed to the credit card issuer's web site where you can review the terms and conditions for your selected offer.
Editorial Disclosure: Opinions expressed here are the author's alone, and have not been reviewed or approved by any advertiser. The information, including card rates and fees, is accurate as of the publish date. All products or services are presented without warranty. Check the bank’s website for the most current information.
