Capital One Spark 2% Cash Plus vs. Capital One Spark 2X Miles for Business
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Key takeaways
- The Capital One Spark Cash Plus could make sense for you if you have higher business expenses, don't mind paying a higher annual fee, can afford to pay your bill in full each month and want to earn cash back rewards.
- The Capital One Spark Miles for Business could be a better fit if you travel occasionally for business, you'd rather earn travel rewards and you want the option to carry a balance.
- Either card could be a good fit for small-business owners, but the Capital One Spark Cash Plus might be a better fit for larger businesses.
If you’re looking for a business card that offers decent rewards, you should consider the Capital One Spark Cash Plus or the Capital One Spark Miles for Business. While either option could be a welcome addition to your company’s financial arsenal, one card may align better with the current situation and goals of your business.
For example, the Capital One Spark Cash Plus is a charge card that could earn a significant amount of cash back, while the Capital One Spark Miles for Business is a more traditional travel rewards card that can help you rack up miles for travel.
To learn which business credit card may work best for you, read our detailed comparison.
Main details
| Cards | Capital One Spark Cash Plus | Capital One Spark Miles for Business |
|---|---|---|
| Welcome bonus | Earn a one-time cash bonus of $1,200 once you spend $30,000 within 3 months | Earn 50,000 bonus miles when you spend $4,500 within 3 months of account opening |
| Rewards rate |
|
|
| Intro APR | N/A | N/A |
| Annual fee | $150 (refunded if you spend at least $150,000 with the card annually) | $95 ($0 for the first year) |
Capital One Spark Cash Plus vs. Capital One Spark Miles for Business highlights
These Capital One credit cards might both be in the Spark family, but they’re geared toward business owners with very different needs. Use these highlights to help you decide which one will work best for your business.
Capital One Spark Cash Plus
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The Capital One Spark Cash Plus card offers one of the most generous welcome bonuses on the market. You can earn a one-time cash bonus of $1,200 once you spend $30,000 in the first 3 months. This bonus doesn’t come in the form of points or anything you’d have to redeem — just money back in your pocket.
The Capital One Spark Miles for Business card’s bonus is smaller at 50,000 miles after spending $4,500 in the first 3 months. Based on Bankrate’s latest points and miles valuation, 50,000 miles is worth up to around $850 if you book travel through a Capital One transfer partner.
However, it’s important to note that the welcome bonus for the Capital One Spark Miles for Business is easier to earn than the Capital One Spark Cash Plus’s welcome bonus. For the Spark Miles, you’ll only need to spend $4,500 within 3 months of account opening to earn the bonus, which comes down to $1,500 a month. With the Spark Cash Plus, the $30,000 in 3 months spending requirement breaks down to $10,000 a month.
If the spending threshold isn’t a problem, then the Capital One Spark Cash Plus will net you a bigger reward — but if that threshold is too high, then the Spark Miles might be a better fit.
Tie
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Both the Capital One Spark Cash Plus card and the Capital One Spark Miles for Business card offer the same rewards rate, just in different rewards currencies.
You’ll earn 2 percent cash back or 2X miles, respectively, for every dollar you spend. You can also earn 5 percent cash back or 5X miles on hotels and rental cars booked through Capital One Travel. Plus, there’s no cap on how much you can earn with either option, and your rewards will never expire as long as your account remains open and in good standing.
Since the rewards rates are essentially the same, which card is better for you comes down to which redemption options you prefer. The Spark Cash Plus offers straightforward cash back, while the Spark Miles for Business earns flexible miles you can redeem for travel through the Capital One Travel portal or transfer to hotel and airline partners.
Capital One Spark Miles for Business
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The Capital One Spark Miles for Business card is the clear winner in this category because you only have to pay a $95 annual fee as opposed to the Spark Cash Plus card’s $150 annual fee. Plus, you don’t have to pay an annual fee at all during your first year as a cardholder for the Spark Miles for Business.
With the Capital One Spark Cash Plus, you’ll break even each year if you make at least $7,500 worth of purchases (which earns $150 in cash back). You can also get your annual fee refunded if you spend at least $150,000 on the card in that year.
With the Capital One SparkMiles for Business, you’ll have to spend at least $4,750 per year (worth about $95 in miles earned) to cover the annual fee. However, the Capital One Spark Miles for Business doesn’t offer an ongoing annual fee refund (apart from the $0 introductory annual fee for the first year) like the Capital One Spark Cash Plus does.
Tie
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If you plan to use your card internationally, you’re in luck. Neither card charges foreign transaction fees on purchases made abroad.
Which card earns the most?
Both cards accumulate rewards at the same pace since their rewards rate is the same, just in different currencies. So really, this is a comparison of the value you’ll get from miles vs. the value you’ll get from cash back. Let’s take a look at a spending example.
Spending example
Let’s say you use your Capital One Spark Cash Plus card to pay for a $3,000 business trip, and you don’t book any portion of your trip through the Capital One Travel portal. At 2 percent cash back on all purchases, you’ll earn $60 in cash back.
Alternatively, the Capital One Spark Miles for Business card, which earns 2X miles for every dollar spent, would earn you 6,000 miles. If you redeem your miles through the Capital One Travel portal or as a statement credit against past travel purchases at a flat 1 cent per mile rate, your 6,000 miles would be worth $60 — same as your cash back amount from the Spark Cash Plus.
If you transfer your miles to one of Capital One’s hotel or airline partners, however, your miles could be worth up to around 1.7 cents apiece, according to Bankrate’s latest valuations. In this case, your 6,000 miles could have a value of $102.
Both cards will earn you the same value if you redeem your Spark Miles for Business rewards at a rate of 1:1. But, if you plan to redeem your rewards through one of Capital One’s travel partners, the Capital One Spark Miles for Business’s rewards will likely be more valuable. If you prefer straightforward cash back, the Spark Cash Plus is a better choice.
Why should you get the Capital One Spark Cash Plus?
The Capital One Spark Cash Plus has an excellent rewards rate and strong welcome bonus offer, but those aren’t the only reasons to carry the card. Here are some more details that might make this card worth it for your business:
Additional benefits
The Capital One Spark Cash Plus is a charge card with no preset spending limit. It offers free cards for your employees, as well as $0 fraud liability service and access to account management tools. The card also offers standard Capital One business benefits like:
- Roadside assistance
- Access to Capital One Travel
- No foreign transaction fees
- Extended warranty coverage
- Virtual credit card numbers for secure shopping online
Redemption options
You can redeem your cash back in the form of a check or statement credit. If you like, you can set up automatic redemptions on a certain date every year or when you reach an earnings threshold. You can also redeem your rewards for credits for prior purchases, gift cards or Amazon and PayPal purchases, though the redemption values for these options may vary.
Recommended credit score
Capital One recommends that applicants have excellent credit, meaning a credit score between 740 and 850, in order to qualify for the Capital One Spark Cash Plus card.
Why should you get the Capital One Spark Miles for Business?
If you need a travel credit card that offers a solid, straightforward rewards rate, the Spark Miles for Business might be the right card for you. Here are some additional reasons to get the card:
Additional benefits
With the Capital One Spark Miles for Business card, you’ll get the same standard benefits as the Spark Cash Plus, like free employee cards, extended warranty coverage on eligible purchases, card lock control, $0 fraud liability and account management tools, among others. Plus, you’ll also get more notable benefits like:
- Up to a $100 statement credit for Global Entry or TSA PreCheck when you pay with your Spark Miles for Business card (one credit every four years)
- Access to Capital One lounges (two complimentary visits per year through Jan. 1, 2025. After that, lounge access will be available at a discounted rate of $45 per person)
- Virtual credit card numbers
- Premium benefits when you book hotel stays through the Capital One Lifestyle Collection
Redemption options
The best way to redeem your Capital One miles is for travel. You can transfer your miles to hotel and airline partners, redeem them for travel bookings through the Capital One Travel portal or use them to cover travel purchases charged to your card from the previous 90 days. You can also redeem your miles for cash back, statement credits, gift cards and more, but your points might not be worth as much with other redemption methods.
Recommended credit score
For the Capital One Spark Miles for Business card, you’ll need good to excellent credit, meaning a credit score of 670 to 850.
The bottom line
The Capital One Spark Cash Plus could make sense for you if you have higher business expenses, can afford to pay your bill in full each month — a requirement for charge cards — and want to earn cash back. But, if you want the option to carry a balance (though we don’t recommend doing so because of high credit card interest rates) or if you want to redeem rewards for travel, the Capital One Spark Miles for Business would be a better fit.
However, it’s worth noting that other top business credit cards offer higher cash back rates — for example, 3 percent to 5 percent back — if you spend in specific business-related categories. Depending on how your business spends, a tiered rewards card may be more rewarding than the flat-rate rewards of the Capital One Spark Cash Plus and Spark Miles for Business. So, be sure to explore all of your options, including other cash back or travel rewards cards, before choosing a card.
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