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Is the Capital One Spark Cash Plus worth it?

A steady cash back card for small businesses


The Capital One Spark Cash Plus is best suited for big spenders who pay their bills in full every month. Others may not benefit enough to justify the annual fee.

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The Capital One Spark Cash Plus is a cash back card that can churn out rewards for small-business owners, but whether or not the card is worth it will ultimately depend on your monthly and annual expenses.

This Capital One card has an annual fee that’s higher than usual for similar cards, and its bonuses require some hefty spending. It’s also a charge card, so there’s less flexibility with carrying a balance. Here’s how to know if the card is right for you and your business.

When is the Capital One Spark Cash Plus worth it?

As with any small-business credit card, it’s important to match your card with your needs. Here are some situations where it makes sense to consider the Capital One Spark Cash Plus.

Your business has a lot of expenses

When you’re just starting out with the card, you can earn a sign-up bonus worth up to $3,000 in the first six months. To get the first $500, you only have to spend $5,000 in the first three months, which is relatively accessible.

But if you want to earn the additional $2,500 to earn the full bonus, you’ll need to spend $50,000 in total over the first six months – which comes out to roughly $8,333 per month.

The card also offers a $200 annual cash bonus, which is more than enough to offset the $150 annual fee. But to earn the annual bonus, you’ll need to spend $200,000 or more on the card every year, which comes to about $16,667 each month.

If you can easily meet those spending thresholds, the card is definitely worth your consideration.

You prefer cash back rewards

It is possible to get more value from a travel rewards credit card, especially if you have transferable points or miles and you’re savvy with maximizing your rewards.

But many small-business owners may not have the time or the desire to be travel hackers, making a simple cash back card with a high rewards rate and bonus opportunities extremely attractive.

You don’t plan to carry a balance

The Capital One Spark Cash Plus is a charge card, which means you have to pay your balance in full every month. Otherwise, you’ll be charged a 2.99% late fee, which can get expensive fast.

If you always pay your bill on time and in full, though, you won’t have to worry about the penalty.

When is the Capital One Spark Cash Plus card not worth it?

Despite the clear value the card presents, it’s not the best fit for everyone. Here are some situations where it may be better to opt for a different card.

Your business is new or just doesn’t spend a lot

If your expenses are on the low side, you may not get enough out of the card to make up for its annual fee. Even the 2% rewards rate isn’t unique. For example, the American Express Blue Business Cash™ Card offers that rate on the first $50,000 spent each year (and 1% after), and it doesn’t come with an annual fee attached.

If you aren’t confident that you’ll be able to meet the spending requirements to maximize the new-cardholder bonus or the annual cash bonus, it may be best to consider an alternative. This can be true for new startups, freelancers, independent contractors and other small businesses that don’t have a lot of ongoing expenses.

You need to carry a balance

Business credit cards aren’t cheap, but they can be more affordable than merchant cash advances and some online business financing options.

If you have plans to use your business credit card to cover working capital needs, but you don’t have the revenue yet to pay your bill in full every month, you’ll likely pay less if you pick a traditional credit card. Some business credit cards even offer 0% intro APR promotions.

Should you get the Capital One Spark Cash Plus card?

When choosing a business credit card, it’s crucial to consider how your company spends its money. But while other cards may have you focus on your different expense categories to decide which is best, this one’s primarily focused on your spending volume.

To offset the card’s annual fee, you’ll need to spend at least $7,500 every year. Remember, though, that there are no-annual-fee cards that offer the same rewards rate, so even if you can meet that requirement easily, that’s not enough to make the card worth your while.

Instead, focus on the welcome bonus and the annual bonus. If you can meet the spending threshold for those, this card should definitely be on your radar. If not, you’re likely better off choosing a different card.

In either case, you’ll want to make sure you can pay your bill in full every month to avoid the late penalty. It’s also important to take your time and compare several other card options to determine the right fit for you. You’ll even want to think about your expense categories and see if there are cards that will give you an even higher return on your spending in those areas of your budget.

Bottom line

The Capital One Spark Cash Plus offers the chance to rack up big-time cash rewards, but it’s primarily tailored to small businesses with a lot of expenses and the ability to pay in full every month.

If you’re considering the card, review its features and spending requirements to get an idea of whether it’s worth it for you. Also, take the time to shop around and compare other top business cash back credit cards to ensure that you’re getting the best fit for your needs and goals.

Editorial Disclaimer

The editorial content on this page is based solely on the objective assessment of our writers and is not driven by advertising dollars. It has not been provided or commissioned by the credit card issuers. However, we may receive compensation when you click on links to products from our partners.

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