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This article was last updated Jun 13, 2020. Terms and conditions may have changed. For the most accurate information, please consult the issuer website.
Business owners who want a hassle-free, flat-rate credit card for managing expenses and earning cash back should take a look at the Capital One Spark Cash Select for Business. There’s a $0 annual fee and no limit on the amount of cash back earned or spending categories to worry about.
We break down the card’s rewards and benefits, who it’s best for, as well as suggest some alternative business cards to consider.
- Capital One Spark Cash Select for Business pros
- Capital One Spark Cash Select for Business cons
- Alternative cashback business credit card options
- Is the Capital One Spark Cash Select for Business right for you?
Capital One Spark Cash Select for Business pros
Rewards. Cardholders earn 1.5% cash back on every purchase. There’s no limit and rewards don’t expire as long as your account is open. Redemption options include statement credits, checks, credits for previous purchases, gift cards and more.
Sign-up bonus. Earn a one-time $200 cash bonus once you spend $3,000 on purchases within 3 months from account opening.
Intro APR. Need to finance a big purchase for your business over time? Get an intro 0% on purchases for 9 months with this card. After, a 13.99% - 23.99% (variable) APR applies.
No annual fee. For business owners who want a small business credit card to manage expenses and earn rewards, but don’t want to pay an annual fee, the Capital One Spark Cash Select for Business is a good choice – its annual fee is $0.
No foreign transaction fee. This card will benefit business owners who travel abroad with its foreign transaction fee of none. Some competing business credit cards charge a foreign transaction fee of typically around 3% of each transaction made outside the United States.
Free employee cards. Issue cards to employees at no additional cost and set customized spending limits.
Spending summaries and downloadable records. Get itemized year-end spending summaries, and download your purchase records in multiple formats such as Quicken, QuickBooks and Excel.
Visa Signature Business Card benefits, including:
- Auto rental collision damage waiver. This card offers primary coverage for auto rental damage or theft.
- Roadside dispatch. Flat tire? No worries. You get 24/7 towing and locksmith referral services while in the U.S. and Canada.
- Visa Signature Concierge. This versatile service is available 24/7 to help you with booking travel, getting tickets to events, arranging dinner or even finding a gift.
- Travel and emergency assistance. There can be unexpected events when traveling, and if you need referrals for medical, legal or travel services, this benefit is available 24/7. Note that referrals are free, but you’re responsible for the cost of the service.
- Lost luggage reimbursement. Receive up to $3,000 in reimbursement if your checked or carry-on luggage is lost or stolen when your ticket is charged to your card.
- Travel accident insurance. If there is accidental death or dismemberment on a travel fare made with your card, you will receive coverage – at no extra cost.
- Visa Signature Luxury Hotel Collection. Receive premium benefits at more than 900 properties with the Visa Signature Luxury Hotel Collection.
- Purchase security and extended protection. The first benefit offers protection against damage or theft for up to $10,000 per claim (for 90 days from purchase date). The second benefit doubles the length of the original manufacturer’s warranty – up to a full year on warranties of three years or less.
- Price protection. Buy an item on your card, and if you see it within 60 days available from another retail store for a cheaper price, you may be refunded the difference (up to $500 per item and $2,500 per year).
- Fine wine and food. Enjoy access to dinner events, complimentary wine tastings and discounts at Sonoma County wineries.
- Discounts on various purchases. Take advantage of discounts and exclusive offers at retailers, as well as special access to popular sporting events and more.
*Certain restrictions, limitations and exclusions apply. For questions or assistance 24 hours a day, 365 days a year: Call the toll-free number on the back of your Visa Signature Business card.
Access to the Visa SavingsEdge program. Shopping at participating merchants can save you up to 15%.
Capital One Spark Cash Select for Business cons
There are cards with higher cashback rewards rates. Earning 1.5% cash back on every purchase isn’t bad. However, it is possible to earn a higher rate on a business card with no annual fee – such as 5% back in certain categories or 2% back on everything up to an annual spending limit.
Small sign-up bonus. There are business cards that offer far more generous sign-up bonuses, though some may charge an annual fee.
Alternative cashback business credit cards
For business owners looking to earn cash back, two cards worth considering are the Capital One Spark Cash for Business and the Ink Business Unlimited® Credit Card, issued by Chase. Here’s how these cards stack up against the Capital One Spark Cash Select for Business:
Capital One Spark Cash Select for Business vs. the Capital One Spark Cash for Business and the Ink Business Unlimited® Credit Card
|Capital One Spark Cash Select for Business||Capital One Spark Cash for Business.||Ink Business Unlimited® Credit Card|
|Sign-up bonus||Earn a one-time $200 cash bonus once you spend $3,000 on purchases within 3 months from account opening.||Earn a one-time $500 cash bonus once you spend $4,500 on purchases within 3 months from account opening||Earn $750 bonus cash back after you spend $7,500 on purchases in the first 3 months from account opening.|
|Rewards||1.5% cash back on every purchase.||2% cash back for your business on every purchase, everywhere.||Either $5 or 5% of the amount of each transfer, whichever is greater.|
|Intro purchase APR||0% on purchases for 9 months.||N/A||0% intro apr on purchases for 12 months.|
|Regular purchase APR||13.99% - 23.99% (variable)||20.99% (variable)||13.24% - 19.24% variable|
|Annual fee||$0||$0 intro for first year; $95 after that.||$0|
|Foreign transaction fee||None||None||3% of each transaction in U.S. dollars.|
Like the Capital One Spark Cash Select for Business, the Ink Business Unlimited® Credit Card charges a $0 annual fee – and its cashback rate is the same as well. However, the Ink Business Unlimited® Credit Card offers a more generous sign-up bonus for the same spend requirement, as well as a longer intro 0% APR promotion.
The Capital One Spark Cash for Business offers a higher cashback rate, but after year one, the annual fee kicks in ($0 intro for first year; $95 after that). The tipping point for when the higher rate outweighs the annual fee is around $20,000. At that point, you’ll net $305 in cash back with theCapital One Spark Cash for Business, while you’ll only net $300 with the Capital One Spark Cash Select for Business.
Is the Capital One Spark Cash Select for Business right for you?
For business owners who don’t spend enough to make a card with an annual fee worth it, the Capital One Spark Cash Select for Business offers satisfactory rewards and valuable benefits. However, if you spend more in some categories than others, you might maximize your cash back with a card that offers higher cashback rewards in those categories – for example, the Ink Business Cash® Credit Card.
With the Ink Business Cash® Credit Card: Earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year. Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year. Earn 1% cash back on all other card purchases with no limit to the amount you can earn. For more recommendations, see our list of best small business cards.
The Capital One Spark Cash Select for Business does require excellent/good credit. If your credit is only fair/limited, you might have better approval odds with the Capital One® Spark® Classic for Business, which still earns cash back to the tune of 1% cash back on every purchase.
Read our article explaining how credit scores work.