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Capital One® Spark® Cash Select for Business review
Get 1.5% cash back on all purchases with this no-frills business card.
finder.com’s rating: / 5
★★★★★
- Get this card if you want cash back without paying an annual fee.
- Pick something else if you want travel rewards.
- Apply with an excellent credit score of 670 or higher.
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$200
Welcome offer
Up to 1.5%
Cash back
$0
Annual fee
0%
Intro purchase APR
for the first 9 months (then 13.99%, 19.99% or 23.99% variable)
Details
| Annual fee | $0 |
|---|---|
| Welcome Offer | $200 after spending $3,000 in the first 3 months |
| Rewards | 1.5% cash back on all purchases |
| Purchase APR | 0% intro for the first 9 months (then 13.99%, 19.99% or 23.99% variable) |
| Balance transfer APR | 13.99%, 19.99% or 23.99% variable |
| Recommended minimum credit score | 670 |
| Issuer | Visa |
Review by
Kevin Joey Chen
kevin.chen@findercrew.comKevin Joey Chen is a credit cards, banking and investments writer whose work and analysis have appeared on CNN, U.S. News & World Report, Business.com, Lifehacker and CreditCards.com. He's passionate about helping you get your finances in order by expertly navigating cutting-edge financial tools — including credit cards, apps and budgeting software.
Expert review
The Capital One® Spark® Cash Select for Business comes with a $0 annual fee, a $200 signup bonus and a flat 1.5% cash back on everything you buy. It also comes with a 0% intro APR period on purchases during your first 9 months of card membership. This can help you stack up on inventories early on and pay them off without interest in the coming months.
The card is also great for travel as it comes with 0% foreign transaction fees, car rental insurance, ticket replacement, travel assistance and more. At no additional fee, you can add as many cards as you like for employees.
However, if you’re looking to make interest-free balance transfers and save money while you pay off your debt, this may not be a good business credit card option.
How to apply for the Capital One® Spark® Cash Select for Business
- Go to the provider's site and click Apply now.
- Fill out the application form.
- Review the form and submit.
How long will it take to get my Capital One® Spark® Cash Select for Business?
Because conditional credit approval is automated on the website, you may get a decision on your application within a few minutes. If more information is needed from you, it may take a few business days up to a few weeks.
After you’re approved, you’ll typically receive your card within seven to 10 business days.
Card benefits
- No annual fee. When expenses are tight, rest easy knowing you won’t pay an annual fee for the Capital One® Spark® Cash Select for Business. You can get the card and keep it long term without feeling pressured to offset its cost with the rewards you earn. Many business credit cards come with annual fees. In that regard, the Capital One® Spark® Cash Select for Business‘s $0 annual fee stands out.
- Signup bonus. When you spend $3,000 on purchases within the first 3 months of opening your account, you’ll earn a $200 cash bonus. This is a low signup bonus compared to other business credit cards. Still, most business credit cards with great signup bonuses also come with annual fees.
- Intro APR on purchases. For the first 9 months after opening your card, you’ll receive a 0% intro APR on purchases. After that, you’ll receive a purchase APR of 13.99%, 19.99% or 23.99% variable depending on your credit.
- Cash back. Earn 1.5% cash back on every purchase. This flat rewards rate is the highlight of the card. If you’re tired of keeping track of different reward tiers, you’ll like the simplicity of the Capital One® Spark® Cash Select for Business. Your cash back won’t expire, and there’s no minimum to redeem it.
- No foreign transaction fees. You won’t incur fees when you use your card abroad or at foreign websites. Typically, providers charge a 3% fee each time you use your card for an international transaction. It doesn’t sound like much, but it can add up over a trip spanning several days. Since the Capital One® Spark® Cash Select for Business comes with 0% foreign transaction fees, it’s an excellent choice for vacations or business trips.
- Add employee cards at no cost. You can add employees to your card account for free and earn rewards on their spending.
- Travel benefits. When you rent an eligible car with your Capital One® Spark® Cash Select for Business card, the vehicle will be covered against collision or theft. Also, get access to Visa emergency services like legal or medical referrals, ticket replacement and other forms of travel assistance.
- Purchase security and extended protection. Eligible items you buy with your Capital One® Spark® Cash Select for Business are covered against theft or accidental loss. Also, enjoy extended warranties on eligible purchases.
What to watch out for
- Potentially high APR. Your ongoing APR for purchases and balance transfers could be as high as 23.99% variable depending on your credit.
- No intro APR for balance transfers. The Capital One® Spark® Cash Select for Business offers a 0% intro APR for purchases only.
- Penalty APR. If you make a late payment, Capital One may raise your purchase, balance transfer and cash advance APR to 29.4% variable. This is known as a penalty APR. Capital One may apply this rate to your account indefinitely.
What should I know before I apply?
To apply for the Capital One® Spark® Cash Select for Business, you must be:
- At least 18 years old.
- A resident of the US or a US military location.
Information you’ll need
To complete the application, you’ll need to provide information about yourself and your business, including:
- Your name, residential status and residential address.
- Your Social Security number.
- Your email address, phone number and date of birth.
- Financial information like your annual income and source of income.
- The name of your business, its mailing address and its employee count.
- Your years in business and annual business revenue.
- Your tax identification number.
What credit score do I need?
You’ll have a better chance of being approved for the Capital One® Spark® Cash Select for Business if you apply with an excellent credit score of 670 or higher.
If you have a healthy business and excellent credit, your likelihood of approval is strong. Here are a few other factors that might affect your odds of approval:
- Hard pulls on your credit report. If you have several hard inquiries — or hard pulls — on your report, it could imply you’re having trouble managing your debt. Capital One might think you’re desperate for credit and may be less likely to take you on as a customer.
- Factors that tie into your credit score. Your credit utilization is a major factor Capital One considers. The bank prefers a customer with low balances relative to their credit limit. Having many new card accounts may be a red flag too, as it could indicate you’re desperate for credit. It may also give the impression that you’re a flighty customer who’s just hunting for signup bonuses.
Compare business credit cards
What size business is the Capital One® Spark® Cash Select for Business good for?
The no-annual-fee Capital One® Spark® Cash Select for Business can be a good choice for businesses of all sizes. Because it offers 1.5% cash back on all purchases, it’s probably most effective if your business spends evenly in a variety of categories.
If your business has a high volume of spending in specific categories, you might earn more rewards from a different card. For example, the Ink Business Preferred® Credit Card offers 3x points in categories like travel, shipping purchases and select online advertising on up to $150,000 in combined purchases each card year, then 1x points after that. And if you take a lot of business flights, you might like an airline credit card.
Capital One® Spark® Cash Select for Business reviews and complaints
Customers are typically impressed with the card’s cash back. Some note that the card is well suited for small and mid-sized businesses.
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?
- Track your spending. Monitor your spending and payments online 24/7.
- Avoid fees. Avoid late fees of up to $39 by setting up automatic payments for billing statements.
- Earn more rewards with your employees’ help. Earn extra rewards by adding employees to your card account as authorized users.
- Contact customer service. Call Capital One at 1-800-867-0904 or by signing in to your Capital One account online if you run into any issues with your card.
Bottom line
The Capital One® Spark® Cash Select for Business keeps things simple with 1.5% cash back on all purchases and a $0 annual fee. It’s a solid pick if you want a no-frills card that rewards a variety of spending.
If you’re not convinced this is the card for your business, compare your options with our guide to business credit cards.
Frequently asked questions about the Capital One® Spark® Cash Select for Business
Images: capitalone.com
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