Capital One Spark Cash Plus Credit Card Review

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Capital One Spark Cash Plus

MoneyGeek Rating

4.3/ of 5

REVIEW & APPLY

On Issuer's Site

Rewards Summary

Earn 2% – 5% cash back

APR

N/A (charge card)

Annual Fee

$150

Recommended Credit

740-850 (Excellent)

PROS
- High flat-rate cash back on all spending
- Bonus cash back on select travel purchases
- Generous one-time cash bonus
- Comprehensive suite of business tools
- No foreign transaction fees
CONS
- No option to carry a balance
- Annual fee with lower spending
- Introductory Offers
  - Earn a one-time cash bonus of $2,000 after spending $30,000 in the first three months.
  - Receive an additional $2,000 cash bonus for every $500,000 spent in the first year, with no limit on how many times you can earn this bonus.
- Rewards
  - Earn unlimited 2% cash back on every purchase, with no category restrictions.
  - Earn 5% cash back on hotels and rental cars booked through Capital One Travel.
- Perks & Benefits
  - Enjoy a spending limit that adapts to your business needs, with no preset limit based on your spending behavior and credit profile.
  - Empower your team with free employee and virtual cards, and earn rewards from their transactions.
  - Automatically sync your transaction data with your accounting software.
  - Spend $150,000 annually to get your $150 annual fee refunded.
- APRS, Fees, and Penalties
  - The Spark Cash Plus card requires you to pay your balance in full each month, as there is no APR.

The Capital One Spark Cash Plus Credit Card offers savvy business owners a powerful tool for managing expenses while earning robust rewards. Its cash back program can lead to impressive savings, especially for those who travel frequently. In addition, the substantial welcome bonus, despite its lofty requirements, serves as an attractive carrot. The card's high-annual-spend fee waiver and array of business tools underscore its value, particularly for large-scale operations. Furthermore, its extensive list of added perks, including no foreign transaction fees and various assurances, contribute to its appeal as a comprehensive financial asset for any business.

Capital One Spark Cash Plus Overview

The Capital One Spark Cash Plus Credit Card offers an enticing variety of features tailored to cater to the unique needs of business owners. Here are some high-level highlights:

Rewards rate: Earn unlimited 5% cash back on hotels and rental cars booked through Capital One Travel and earn unlimited 2% cash back on every purchase, everywhere—with no limits or category restrictions.
Welcome offer: Earn $2,000 cash back once you spend $30,000 in the first 3 months. Earn an additional $2,000 cash bonus for every $500K spent during the first year.
Regular APR: None (charge card)
Annual fee: $150 (refunded with annual spending of $150,000+)
Intro APR offer: None

Spark Cash Plus Cash Back Estimator

Use this calculator to estimate the value of the cash back rewards you could earn with the Spark Cash Plus card. Simply enter your estimated spending in the categories below to see how much cash back you can earn.

Important Disclaimers:

This calculator is for planning and evaluation purposes and is not sponsored or endorsed by Capital One.
Some of your purchases may not be eligible for earning points.
The value of points at redemption will vary.

How much do you spend on hotels booked through Capital One Travel per YEAR? (5% cash back)

How much do you spend on rental cars booked through Capital One Travel per YEAR? (5% cash back)

How much do you spend on other purchases per MONTH? (2% cash back)

Total Cash Back Earned:$0

Important Card Details

Let’s delve into the Capital One Spark Cash Plus Credit Card’s unique cash back structure, attractive yet demanding welcome offer, business-friendly tools and additional perks.

Generous Cash Back

The Capital One Spark Cash Plus Credit Card stands out due to its competitive cash back structure. It offers a consistent 2% cash back on all purchases, which is above the standard 1-1.5% offered by many cards. This can accumulate into substantial savings over time. The extra kick comes in with the 5% cash back on hotels and rental cars booked through Capital One Travel, which incentivizes business owners to use the card for travel-related expenses, significantly boosting their rewards.

Lucrative Welcome Offer

Earn $2,000 cash back once you spend $30,000 in the first 3 months. Earn an additional $2,000 cash bonus for every $500K spent during the first year is a generous offer that can entice those with high initial expenditures. However, the spending requirement to attain this bonus is relatively high. Business owners should be certain they can meet this spending threshold without stretching their budget, ensuring the reward doesn't lead to unnecessary financial strain.

Annual Fee (Maybe)

The Spark Cash Plus card does have a $150 annual fee. However, this fee can be refunded if your business spends at least $150,000 that year. This perk rewards high-volume spenders and can offset the initial cost of the card for those businesses. It's worth weighing the potential rewards against the fee and your expected spending patterns before making a decision.

Useful Business Tools

The card also comes with business-friendly features like free employee cards and quarterly and year-end summaries. These tools can significantly streamline expense tracking and budget management. Additionally, distributing employee cards can make business transactions more efficient while accumulating more rewards.

Additional Cardholder Perks

On top of its cash back and business features, the Spark Cash Plus card also offers several additional perks. These include no foreign transaction fees, roadside assistance, extended warranties, purchase assurance and lost or damaged luggage reimbursement. However, it's important to note that these benefits come with specific terms, conditions and exclusions. These perks can provide peace of mind, especially for businesses that involve travel, but it's vital to read the fine print to understand the full scope of these advantages.

How the Capital One Spark Cash Plus Compares

Let's look at the Capital One Spark Cash Plus Credit Card alongside another popular business credit card to determine which one provides the most value to your business operations.

How This Card Compares

Capital One Spark Cash Plus Credit Card

Rewards rate: Earn unlimited 5% cash back on hotels and rental cars booked through Capital One Travel and earn unlimited 2% cash back on every purchase, everywhere—with no limits or category restrictions.
Welcome offer: Earn $2,000 cash back once you spend $30,000 in the first 3 months. Earn an additional $2,000 cash bonus for every $500K spent during the first year.
Regular APR: None (charge card)
Annual fee: $150 (refunded with annual spending of $150,000+)
Intro APR offer: None
Best for: businesses with large and varied expenses

Capital One Spark Cash Select

Rewards rate: Earn unlimited 5% cash back on hotels and rental cars booked through Capital One Travel and earn unlimited 1.5% cash back for your business on every purchase, everywhere — with no limits or category restrictions
Welcome offer: Earn a $500 bonus when you spend $4,500 in the first 3 months of account opening
Regular APR: 17.99% to 23.99% variable
Annual fee: $0
Intro APR offer: None
Best for: smaller businesses with lower spending

About Doug Milnes, CFA

Doug Milnes is a CFA charter holder with over 10 years of experience in corporate finance and the Head of Credit Cards at MoneyGeek. Formerly, he performed valuations for Duff and Phelps and financial planning and analysis for various companies. His analysis has been cited by U.S. News and World Report, The Hill, the Los Angeles Times, The New York Times and many other outlets.

Milnes holds a master’s degree in data science from Northwestern University. He geeks out on helping people feel on top of their credit card use, from managing debt to optimizing rewards.

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*Rates, fees or bonuses may vary or include specific stipulations. The content on this page is accurate as of the posting/last updated date; however, some of the offers mentioned may have expired. We recommend visiting the card issuer’s website for the most up-to-date information available.
Editorial Disclosure: Opinions, reviews, analyses and recommendations are the author’s alone and have not been reviewed, endorsed or approved by any bank, credit card issuer, hotel, airline, or other entity. Learn more about our editorial policies and expert editorial team.
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MoneyGeek’s Take

Capital One Spark Cash Plus Review