Capital One Spark Cash Plus
- Best for: Businesses with $150,000 or more a year in card spending that pay in full
- What Sets It Apart: Unlimited 2% back that costs nothing once yearly purchases reach $150,000, on a card with no fixed credit limit
- Welcome Offer: $2,000 after $30,000 in purchases in the first 3 months; $2,000 more for every $500,000 spent in the first 12 months
- Rewards: 5% on hotel stays, vacation rentals, and car rentals made through Capital One Business Travel; 2% on everything else
- Features: Free employee cards with spending limits and virtual card numbers; extended warranty; roadside assistance
- Annual Fee: $150; credited back in years your purchases reach $150,000
- APR: 25.99% variable on a balance carried over; designed to be paid in full
- Cost: No foreign transaction fee; 5% cash advance fee ($5 minimum); late fee of 2.99% of the unpaid minimum payment
- Credit Needed: Excellent
- Eligibility: Sole proprietors can apply with a Social Security number
- Pros: No categories to track; activity kept off personal credit reports in good standing; free employee cards
- Cons: Bonus needs $30,000 in the first 3 months; below $30,000 a year the no-fee Spark Cash Select earns more; applicant personally liable
Get the Capital One Spark Cash Plus if your business can charge $30,000 in the card’s first 3 months for its $2,000 welcome bonus, or $150,000 a year, which refunds its $150 fee. Below both amounts, Capital One’s Spark 2% Cash pays the same 2% for $95 a year after the first, though it reports to your personal credit.
Capital One designed the Spark Cash Plus to be paid in full each month, and it has no fixed credit limit. It suits companies that put large, steady sums on one card and want cash back, while owners who’d rather earn travel miles can look at the Venture Business.
Key Features
- $150 annual fee, credited back for any year in which your purchases reach $150,000
- 2% cash back on everything, and 5% on hotel stays, vacation rentals, and car rentals you book through Capital One Business Travel
- $2,000 cash bonus after you spend $30,000 in the first 3 months, plus $2,000 more for each $500,000 of spending in the first 12 months; current or past Capital One business cardholders may not get them
- Pay in full each month, or carry part of the balance at 25.99% variable interest
- Excellent credit needed, and a side business can apply as a sole proprietor with a Social Security number
Pros
- No limit on the 2% you earn, and no categories to track
- No preset spending limit, so what you can charge adjusts with your spending, payment history, and credit
- Card activity goes only to business credit bureaus, not your personal credit reports, while your account stays in good standing
- Free employee cards with spending limits you set, plus virtual card numbers
- No foreign transaction fees
Cons
- The bonus takes $30,000 in purchases in the first 3 months
- Below $30,000 a year, the no-fee Spark Cash Select earns more with 1.5% back than this card does with 2% minus its fee, though the Select reports to your personal credit
- The owner or officer who applies is personally liable for the balance
A business that can spend $30,000 in the first 3 months collects the $2,000 bonus, and one that spends $150,000 a year earns $3,000 at 2% with the fee refunded. Businesses that spend less than both amounts keep more with Capital One’s Spark 2% Cash than with this card, at the same 2% for $95 a year after a free first year, though it reports to your personal credit.
Learn more about the Capital One Spark Cash Plus or see how it compares to the best small-business credit cards.
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