Is the Capital One Spark Cash for Business worth it? | February 2018

Review: Capital One Spark® Cash for Business – February 2018

If you’re looking for a low-fee business card, Spark Cash could be for you.

  • Get this card if… you’re looking to get 2% cash back for your business spending and signup bonuses.
  • Pick something else if… you’re looking for a 0% intro APR.
  • Recommended good to excellent credit score of 700 or higher.
Product NameCapital One Spark Cash for Business
Balance Transfer Rate (not intro)18.24% variable
APR for Purchases ( Purchase Rate )18.24% variable
Annual fee$0 intro for the first year, $95 thereafter
Cash Advance Rate24.24% variable
Card TypeVisa
Interest Free Period
The interest-free period on purchases is the period or number of days you do not have to pay interest on your card purchases. You will be charged interest either from the day you make a purchase or from the statement date, unless you pay the closing balance in full by the due date (or within the interest-free period) on your statement.
Up to 25 days
Foreign Currency Conversion Fee (VISA)
Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
0% of transaction value
Minimum Credit ScoreGood (700-739)
Minimum Age18 years of age
Annual fee$0 intro for the first year, $95 thereafter
Late Payment Fee$39
Cash Advance Fee$10 or 3% of the amount of each cash advance, whichever is greater

The Basics

The Capital One Spark Cash for Business card can earn you money back on business expenses. You’ll enjoy unlimited cash back earnings plus a one-time $500 signup bonus after you’ve spent $4,500 in the first three months after opening your account.

If you’re looking for a low-fee business card, Spark Cash could be for you. Other cards in the Spark suite include the Spark Cash Select, which offers an intro 0% APR for nine months, and the Spark Classic for those with average credit looking for a cash back business card.

The Perks

Beyond making it easy to pay for your business expenses, Capital One Spark Cash for Business card offers rewards that can stretch your spending.

  • Unlimited cash back. Earn 2% cash back on all business spending.
  • No foreign transaction fees. Use your card overseas without the worry of extra fees.
  • Intro bonus. Get $500 back when you spend $4,500 in the first three months after approval.

You’ll also like…

  • Free employee cards. Employees can help earn rewards on every business purchase.
  • Fraud alerts. Capital One will notify you of any suspicious activity by phone, text or email.

What to watch out for

Capital One Spark Cash for Business offers rewards for spending on your business, but there are limits to its benefits.

  • No 0% intro APR. 18.24% variable APR on all spending right from the start.
  • No travel rewards. Spending on travel won’t earn you additional rewards.
  • Annual fees. After the first year, you’ll pay $95 per year.

Compare other Capital One credit cards

Rates last updated February 21st, 2018
Name Product APR for Purchases ( Purchase Rate ) Intro APR for Balance Transfer Annual fee Product Description
Capital One Spark® Classic for Business
24.24% variable
$0
Get the credit you want for your business, and unlimited 1% cash back on every purchase, every day
Capital One Spark Miles Select for Business
14.24%, 18.24% or 22.24% variable
$0
Unlimited 1.5X miles per dollar on every purchase, every day
Capital One Spark Miles for Business
18.24% variable
$0 annual fee for the first year ($95 thereafter)
Unlimited 2X miles per dollar on every purchase, every day
Capital One Spark® Cash Select for Business
14.24%, 18.24% or 22.24% variable
$0
Unlimited 1.5% cash back on every purchase, every day.
Capital One Spark Cash for Business
18.24% variable
$0 intro for the first year, $95 thereafter
Unlimited 2% cash back from Spark Cash could mean thousands of dollars each year going back into your business. No minimum to redeem.
Capital One QuicksilverOne® Credit Card
24.99% variable
$39
Get unlimited 1.5% cash back on every purchase with no limit on how much you can earn, and no changing categories.
Capital One® Platinum Credit Card
24.99% variable
$0
Enjoy no annual fee, plus access to valuable benefits.
Capital One Secured Mastercard
24.99% variable
$0
Take control and build your credit with responsible use.
Capital One® Premier Dining Rewards Credit Card
15.74%, 20.74% or 24.49% variable
0% Intro APR for 9 months
$0
Earn unlimited 3% cash back on dining, 2% on groceries and 1% on all other purchases.
Capital One Quicksilver® Rewards Credit Card
14.24%, 19.24% or 24.24% variable
0% Intro APR for 9 months (with 3% balance transfer fee)
$0
Earn unlimited 1.5% cash back on every purchase, every day
Capital One® Venture® Rewards Credit Card
14.24%, 19.24% or 24.24% variable
$$0 intro for the first year, $95 after
Earn 50000 bonus miles once after spending $3,000 on purchases within the first 3 months from account opening.

Compare up to 4 providers

What should I know before I apply

Always consider your options and your financial situation before you apply for a credit card.

To apply for the Capital One Spark Cash card, you must be:

  • At least 18 years old.
  • A U.S. citizen or legal resident.
  • You’ll need to submit personal and financial information that includes:
  • Your full name and personal contact information.
  • Your date of birth and Social Security number.
  • Your total annual income and monthly housing payment.

You’ll also need to provide specific information about your business, including:

  • Your business name and address.
  • Information about the type of industry you’re in.
  • Your ownership type and how long you’ve been in business.
  • Your business tax ID number.
  • Your annual business revenue and monthly expenses.

What credit score do I need?

You’ll have a better chance of being approved for the Spark Cash for Business card if you apply with a good to excellent credit score of 700 or higher.

How to apply for the card

1. Visit Capital One online, click the Business tab and find Spark Cash for Business. (Or use this link to go directly to the page.) Click Apply Now.

step 1 Capital One Spark Cash for Business

2. Complete the application with your personal and financial information.

step 2a Capital One Spark Cash for Business

step 2b Capital One Spark Cash for Business

step 2c Capital One Spark Cash for Business

step 2d Capital One Spark Cash for Business

If approved, you’ll receive your letter of approval in seven to 10 days. You’ll need to submit your initial deposit, then you should receive your card in another two to three weeks.

How long will it take to be approved?

Because conditional credit approval is automated on the website, you may get a decision on your application within 60 seconds.

I got the card. Now what?

Start earning 2% cash back on all of your business expenses, but be sure to stay on top of your payments to avoid unnecessary interest and fees.

  • Track your spending. Monitor your spending and payments online 24/7.
  • Avoid fees. Avoid late fees of up to $39 by setting up automatic withdrawals for statements.
  • Earn more with your employees. Earn extra bonuses by providing cards to select employees for business expenses.
  • Contact customer service. Get in touch with Capital One by phone, email or live chat.

Bottom line

The Capital One Spark Cash for Business card helps you earn unlimited cash back while paying for your business expenses. Take a look at other options with better introductory rates or travel bonuses.
Compare Capital One Credit Cards

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