Capital One® Spark® Cash for Business review
A low-fee business credit card with unlimited cash back.
finder.com’s rating: 4.4 / 5
- Get this card for unlimited 2% cash back on business spending.
- Pick something else if you’re looking for a low intro APR.
- Apply with a good to excellent credit score of 670 or higher.
Up to 2%
for the first year ($95 thereafter)
Purchase APR (variable)
|Product Name||Capital One® Spark® Cash for Business|
|Annual fee||$0 intro annual fee for the first year ($95 thereafter)|
|Purchase APR||20.99% variable|
|Balance transfer APR||20.99% variable|
|Balance transfer fee||None|
|Cash advance rate||26.99% variable|
|Cash advance fee||$10 or 3% of the cash advance amount, whichever is greater|
|Penalty APR||29.4% variable|
|Foreign transaction fee||None|
|Interest free period||Up to 25 days|
|Late payment fee||$39|
|Additional cardholder fee||$0|
|Rates & fees||rates & fees|
Kliment Dukovski is a credit cards writer. He's written over 600 articles to help readers find and compare the best credit cards. Kliment has also written on money transfers, home loans and more. Previously, he ghostwrote guides and articles on foreign exchange, stock market trading and cryptocurrencies.
The Capital One® Spark® Cash for Business card is a solid credit card with an intro $0 annual fee, a generous signup bonus of $500 and an unlimited 2% cash back on all purchases you make.
Despite having an annual fee from the second year, you can add employee cards to your account with no additional costs. Also, if you travel abroad or use your card online at foreign merchants, you won’t pay any foreign transaction fees.
All this makes the Capital One® Spark® Cash for Business a solid cashback card for businesses that spend on a variety of categories. But if you’re looking to save money on interest with a 0% intro APR period, look for other cards.
How to apply for the Capital One® Spark® Cash for Business
- Go to the provider's site and click Apply now.
How long will it take to be approved?
Capital One automates conditional approval on its website, which means you could see a decision in minutes if you’ve provided accurate information. Applications that need further review may take several business days for processing.
How long will it take to get my Capital One® Spark® Cash for Business card?
After approval, you should receive your card by mail in seven to 10 business days.
Unlimited cash back.
Get 2% cash back on all purchases with no limits as to how much you can earn. Redeem your cash back as a statement credit, a check or for credits toward previous purchases, gift cards and more.
Spend $4,500 on purchases in the first 3 months your account is open to earn $500 in statement credit.
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Visa® Business benefits.
Get car rental insurance, purchase protection and 24/7 travel emergency services should you need medical, legal or other services while traveling with your Visa business card.
Free employee cards.
Add employee cards to your account at no additional cost and earn cashback rewards on all employee purchases.
No foreign transaction fees.
You won’t pay fees on international transactions when you use your card abroad. Other cards charge up to 3% of each transaction.
Get real-time alerts for fraud attempts and $0 fraud liability if you lose your card or it’s stolen.
APR on purchases and balance transfers.
The Capital One® Spark® Cash for Business comes with 20.99% variable APR on purchases and balance transfers. APRs for similar business cards can reach up to 20.74% variable.
What to watch out for
Capital One has a $0 annual fee for your first year. After that, the annual fee will be $95. With 2% cash back on your purchases, however, you can offset the annual fee by spending $5,000 a year.
Late payment fees and interest.
You’ll pay up to $39 for late payments. If you’re late twice within 12 billing cycles, Capital One may apply a penalty APR of 29.4% variable to your account. And you could be stuck with the penalty APR until you make 12 consecutive on-time payments.
No travel rewards.
Airfare, hotel, rental car and other travel purchases won’t earn you additional rewards.
Compare business credit cards
What size business is the Capital One® Spark® Cash for Business good for?
Small businesses that don’t spend much on any one category of purchases — but spend enough to make the most out of the unlimited 2% cash back — could find this card rewarding.
Suppose your business spends $20,000 a month. After a year, you’d have earned $4,800 back in cash. The card’s $95 annual fee kicks in for your second year. But just $5,000 in purchases provide more than enough cash back to cover the fee.
What should I know before I apply
To apply for the Capital One® Spark® Cash for Business, you must be at least 18 years old and a US citizen or legal resident.
You’re required to provide information that includes:
- Your business name, address and industry.
- Ownership type, years in business and tax ID.
- Your annual revenue and monthly expenses.
- Your personal and financial information, including monthly housing costs.
What credit score do I need?
You can apply with a good business score of 670. But a high credit limit may require a higher credit score.
Keep in mind that Capital One conducts a triple pull on your credit history from TransUnion, Equifax and Experian, while other banks pull from one credit bureau only.
What’s my likelihood of approval?
To increase your chances of approval, apply with a good to excellent credit score of 670 or higher.
Capital One® Spark® Cash for Business reviews and complaints
You’ll find customers online who claim that the Capital One® Spark® Cash for Business affected their personal credit. Some complain about receiving their low credit limit and spotty customer service. Still others say they’re satisfied with the card’s unlimited 2% cash back and guidance with improving their overall financial health.
The Better Business Bureau has accredited Capital One with a rating of A as of October 2020. However, it sports a 1.13 out of 5 when it comes to a customer rating from an average of nearly 500 reviews. It fares little better on Trustpilot, earning a 1.4 rating out of 5 as of October 2020.
I got the card. Now what?
- Set up automatic cash back. Visit Capital One online or call its rewards center at 1-800-228-3001 to set up when you’ll receive cashback rewards. You can specify each calendar year or after you a specific threshold of $25, $50, $100 or $200.
- Avoid paying fees and interest. Avoid late fees of up to $39 by paying your balance on time and a potential penalty APR of 29.4% variable. Pay your statement in full in your grace period to avoid unnecessary interest on your purchases.
- Earn more through employees. Get additional cards for your employees to earn more cash back.
- Get help. For any questions, call Capital One’s customer service at 1-800-867-0904 or log in to your online account.
The Capital One® Spark® Cash for Business card helps you earn unlimited cash back as you buy the things your business needs. It offers a consistent 2% cash back on your purchases with no limits on how much you can earn.
But with so many business cards out there, do your research before making a decision. Compare other Capital One credit cards or look into other card providers to find one that best suits your business.
Frequently asked questions about Capital One
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