Capital One Spark Cash Select review: The upgraded sign-up bonus makes this card worth it

The Ink Business Unlimited® Credit Card offers a similar cash back rate, variable APR and welcome offer of $750 cash back sign-up bonus after spending $6,000 in the first three months. However, it also includes an intro APR offer on purchases and you may qualify for this card if you only have good credit (a 670 or higher FICO score). This automatically makes the Ink Business Unlimited card more valuable, but you can also take advantage of more redemption options. For instance, the cash back value you earn on this card can be boosted with the right transfer partner through Chase Ultimate Rewards®.

If you prefer American Express benefits and still can’t justify having a business card with an annual fee, the American Express Blue Business Cash™ Card earns a higher 2 percent cash back rate on up to $50,000 in business purchases each calendar year (then 1 percent). While the welcome bonus is much lower at a $250 statement credit when you spend $3,000 in your first three months after account opening, you get an intro purchase APR offer with this card and don’t have to worry about an over-the-limit fee.

Capital One doesn’t offer a business credit card with bonus categories, but a brand-specific option like an airline card can rake in more rewards for your company. For instance, with The Southwest Rapid Rewards® Plus Credit Card rewards traveling with Southwest Airlines, and you earn 2X points on cable, phone and internet purchases as well as local transit and commuting (including rideshares) — a higher rate than the Spark Cash Select.

If you’re worried about the Rapid Rewards Plus's $69 annual fee, it can be easily offset through spending, especially when you consider the card’s anniversary bonus of 3,000 points per year.

Another card that better rewards select business costs (like travel and eligible advertising) is the Ink Business Preferred® Credit Card. It earns 3X points on the first $150,000 spent on travel and select business categories, then 1X. This high rewards rate can be quite lucrative if you spend a lot in this card's bonus categories and take advantage of its massive welcome bonus. 

While the card comes with a spending cap and $95 annual fee, it features the protection and travel perks that the Spark Cash Select lacks while being terrific for high spenders.

When starting a business, a lot of unexpected expenses can come up. The advantage of the Capital One Spark Cash Select card is the flat rate covers everything you may need to pay for without having to give up your chance to earn rewards. Because there’s no spending cap, you can also cover as many purchases as you can within your credit limit without worrying that you’ll be rewarded at a reduced rate. To cap it off, there’s no annual fee or foreign transaction fee to outpace, making it easy to rack up cash back and focus on keeping your balance in check. (See Rates & Fees)

Because it lacks an annual fee, the Spark Cash Select would be a great pairing card. It doesn’t add a lot of pressure to your budget, and it offers unlimited rewards through its 1.5 percent flat-rate rewards.  

While other cards come with a hefty list of benefits and perks, this one card can be a great backup, especially if your other cards lack travel and purchase protections — like purchase security and travel and emergency assistance — or the card charges a foreign transaction fee. (See Rates & Fees)

The primary factor in a balance transfer or low-interest card’s rating is the quality of its introductory APR offer and ongoing APR. This includes both the introductory rate itself and the length of the intro APR on both balance transfers and new purchases. 

For cards designed primarily for balance transfers, the intro APR offer on balance transfers has the largest impact on overall score. The quality of these cards’ intro APR on new purchases is also considered, but holds less weight than the intro APR on balance transfers. 

For general low-interest cards, the intro APR offer on new purchases has the largest impact on overall score, followed by the ongoing APR and intro APR offer on balance transfers. This weighting assumes cardholders considering a card in this category will prioritize payment flexibility on new purchases or may need to carry a balance long term, whereas cardholders trying to pay off debt will opt for a dedicated balance transfer card.

The cards that score the highest in these categories tend to offer long 0-percent intro APRs on both balance transfers and new purchases as well as a lower-than-average low-end APR. 

Along with evaluating each card’s intro APR offers, we score balance transfer and low-interest cards based on their fees. 

Of primary importance is a card’s balance transfer fee, since this can play a large role in the total cost of a balance transfer. We rate each card’s balance transfer fee based on how it stacks up against the fee you’ll find on competing cards. 

While this fee carries less weight when we assess general low-interest cards than dedicated balance transfer cards, it still factors into our evaluation since cardholders may decide to transfer debt to a low-interest card even if it offers no intro APR or an intro APR higher than 0 percent.

And while a lower balance transfer fee could save you more overall than a few extra months of 0-percent intro APR, this fee carries less weight in our scoring system than a card’s introductory APR and intro APR period. This is because many users prioritize getting as much time as possible to pay off debt while avoiding interest. 

Our ratings also factor in the presence of annual, foreign transaction, cash advance and late payment fees, along with penalty APRs. Annual fees are weighted most heavily since these are the only “unavoidable” fees in the list and tend to be less common on dedicated balance transfer and low-interest credit cards.

While getting a generous intro APR offer and low ongoing APR are likely to be the biggest priorities for someone looking for a low-interest or balance transfer card, we also consider how much value a card can offer after its intro APR comes to an end. 

Balance transfer and low-interest cards receive a higher rating if they also include an ongoing rewards program or unique and valuable perks. Such features make a card more useful long term and make it less likely you’ll need to apply for a new card (and temporarily hurt your credit score) after you pay off debt.

The Capital One Spark Cash Select requires cardholders to have an excellent credit score for approval, meaning a FICO score of 740 or higher.

There is no limit to how many Capital One cards you can have at one time. More specifically, you may have as many Capital One credit cards as your credit standing allows. Your credit history, your income and any debts you may have will help determine if you are approved.

There’s no guarantee that Capital One will automatically increase your limit over time, but a better way to get a credit increase is to request a credit limit increase online. After six months of on-time payments on certain Capital One cards, especially those marketed to consumers establishing or building credit, an increase may be available.