Capital One Spark Cash Plus benefits guide

The Capital One Spark Cash Plus is a simple business credit card with a straightforward cash back structure that can prove quite valuable for the average business owner. You’ll earn an unlimited 2 percent cash back on all purchases, which can add up to considerable rewards over time, especially if your business spending isn’t focused on just one or two specific categories.

The Capital One Spark Cash Plus card’s rewards rate isn’t its only benefit, either. Keep reading to learn more about additional perks associated with the card and how to maximize its value.

Capital One Spark Cash Plus rewards program benefits

Manage your business expenses

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Unlimited, flat rewards on all purchases

The Capital One Spark Cash Plus is a great cash back card for business owners. It offers a simple, straightforward cash back structure that can be highly rewarding: You’ll earn 2 percent cash back on all purchases and an unlimited 5 percent cash back on hotels and rental cars booked through Capital One Travel. You won’t have to worry about keeping up with revolving categories or spending limits, so it’s a great business card for those who spend across multiple categories.

The card comes with a $150 annual fee, so you’ll want to make sure you’re earning enough in rewards to make up for that cost.

Also, the Capital One Spark Cash Plus is a charge card rather than a credit card, which means you’re required to settle your balance each month. If you need to finance a large purchase or carry a balance, this is not the card for you.

Multiple ways to redeem rewards

With the Capital One Spark Cash Plus, you can redeem your rewards for:

• Statement credits
• Checks
• Credits on prior purchases
• Gift cards
• Shop with Points through Amazon and PayPal
• Travel booked through Capital One Travel

Capital One also offers the option to automatically redeem your cash back on a yearly date of your choice, or once your balance reaches a specified threshold. Your rewards will not expire as long as the account is open and in good standing.

Chance to earn an annual spending bonus

With the Capital One Spark Cash Plus, you can earn an annual cash bonus of $150 if you spend $150,000 each cardmember year. This means you’ll have to spend at least $12,500 a month to earn the bonus, but this perk alone can offset the $150 annual fee.

Welcome offer for new cardholders

As a new cardholder, you can earn $2,000 cash back once you spend $30,000 in the first three months. You can also earn an additional $2,000 in cash back for every $500,000 spent in the first year, with no limit as to how much you can earn.

Capital One Spark Cash Plus travel benefits

No foreign transaction fees

This card comes with no foreign transaction fees on purchases made in foreign currencies, making it a good card to take with you on a trip abroad or to have on-hand if you make purchases with foreign vendors.

Access to Capital One Travel

Through the Capital One Travel portal, you can book travel with cash or your rewards. You’ll also earn 5 percent cash back on all hotels and rental cars booked through Capital One Travel.

Roadside assistance

You’ll have access to travel and emergency assistance services, such as 24/7 roadside assistance, for auto-related emergencies.

Capital One Spark Cash Plus protection benefits

Purchase protection

Eligible purchases made with the card are protected for up to 90 days in eligible scenarios, including theft or damage.

Extended warranty coverage

You’ll also receive extended warranty coverage on eligible purchases, which can save you money in the long run.

Fraud and security protections

To ensure the safety of your account, Capital One offers cardholders fraud protection. If your card is stolen or lost, you’ll have $0 fraud liability and can get a cash advance or emergency replacement card. You can also use the Card Lock feature if your card is lost or stolen.

Access to virtual card numbers

Through Eno, Capital One’s account assistant, virtual credit card numbers are available to use for added protection when shopping online.

Capital One Spark Cash Plus business benefits

Employee card benefits

You’ll receive free employee cards with the Capital One Spark Cash Plus, and you can set up customized spending limits for each card. You’re able to earn additional rewards through these employee cards, as well as track spending and transactions.

Other business tools

Capital One offers numerous benefits catered to help business owners manage their accounts. You can download purchase records in multiple formats, access year-end itemized summaries, easily integrate your cards into platforms like Quickbooks and more.

How to maximize the Capital One Spark Cash Plus

Knowing how to make the most out of any business card will help you to determine its long-term value to you as a cardholder. Here’s how to maximize the value of your Capital One Spark Cash Plus card:

• If you’re determined to earn the $150 annual cash back bonus — which you can earn after spending at least $150,000 each year — be sure to put as much spending as you can on this card (without spending beyond your means).
• Plan on opening the card when you know you’ll spend at least $30,000 in the first three months so you can earn the $2,000 cash bonus.
• If you have employees, take advantage of the Capital One Spark Cash Plus card’s free employee cards to pool all cash back earned into your account and maximize your rewards balance.
• If your business has high spending needs, consider attempting to earn additional bonuses for every $500,000 spent in the first year.

The bottom line

If you’re looking for a business card that earns a straightforward cash back structure on all purchases, consider the Capital One Spark Cash Plus. Earning 2 percent cash back on all purchases is a great option for high-spending businesses who can get even more value from the card’s rewards for higher spending.