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Capital One Spark Cash Plus benefits guide

The Capital One Spark Cash Plus offers simple rewards for business owners, as well as a few valuable benefits

Summary

The Capital One Spark Cash Plus isn’t loaded with luxury perks like some other business cards. Still, its benefits can allow you to get excellent value out of this card.

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The Capital One Spark Cash Plus is a business credit card with a simple yet highly rewarding cash back structure. At $150 per year, the card earns 2% back on all purchases and can be an especially good deal for high spenders.

As is common for flat rate cash back cards, the Spark Cash Plus doesn’t offer any luxury perks. Still, the card comes with a few valuable benefits, including no preset spending limit, free employee cards, an annual bonus for big spenders and more.

Read on for a breakdown of Capital One Spark Cash Plus benefits and learn how you can use them to maximize the card’s value.

The Capital One Spark Cash Plus benefits

Besides the generous cash back rate, the Capital One Spark Cash has plenty to offer to cardholders.

Flexible redemption options

Redeeming cash back with the Capital One Spark Cash Plus is simple, and cardholders have several redemption options, including a statement credit, check, gift card or payment through Amazon.com or PayPal.

If you have a travel credit card from Capital One, such as the Capital One Venture X Rewards Credit Card, you can transfer your Spark rewards to redeem for travel, potentially at a better value.

No present spending limit

Credit cards with no spending limit, also known as charge cards, are a dying breed.

The Capital One Spark Cash Plus is one of such rare cards. It offers the flexibility of no preset credit limit, meaning you can spend as much as you need without worrying about high credit utilization ratio.

However, keep in mind that charge cards require that you pay off the entire balance in full every month. If you miss the payment due date, Capital One will charge you 2.99% of the unpaid portion of the payment.

Annual bonus

Every year you charge at least $200,000 on the card, you’ll get a $200 cash bonus.

Without a doubt, this spending requirement is rather hefty. Nevertheless, for high spenders who can meet it, the Capital One Spark Cash Plus more than pays for itself, considering the annual fee is only $150.

Free employee cards

Another card benefit that may be essential for your business is the option to get additional credit cards for your employees.

The Capital One Spark Cash Plus offers free employee cards. You can earn rewards from your employees’ purchases, track their spending and transactions, as well as set customized spending limits.

Business benefits

Managing a business credit card can be more complex than managing a personal card, so Capital One provides several benefits to help you, including:

  • Year-end summaries itemizing your spending to make budgeting and taxes easier
  • Option to assign an account manager to oversee purchases and payments
  • Purchase records which you can download in multiple formats

Fraud protection

To keep your account safe, the Capital One Spark Cash Plus also comes with a few fraud protection benefits, including:

  • 0% fraud liability, including the option to get an emergency replacement and a cash advance if your credit card is lost or stolen
  • Virtual card numbers you can use to make purchases online or pay through services like PayPal without exposing your real card number
  • Security alerts that notify you about potential suspicious transactions
  • Card lock in case your card is lost or stolen

Purchase protection and travel benefits

While the Spark Cash Plus isn’t a travel card, it offers the following travel benefits:

  • No foreign transaction fees
  • Roadside assistance
  • Car rental insurance
  • Lost luggage coverage

As for purchase protection benefits, as a Spark Cash Plus cardholder, you can count on extended warranty coverage and purchase security.

Maximizing the Capital One Spark Cash Plus card

To make the most of the Spark Cash Plus and ensure the card is worth its annual fee, try to squeeze as much value of it as you can.

Here are a few tips that can help you do just that.

  • If this is your only or main business credit card, put as much of your spending on it as you can to earn more cash back. If you can reach the annual $200,000 spending requirement, you’ll also receive the $200 cash bonus.
  • If you have a Venture card, consider transferring your cash rewards to stretch their value by redeeming for travel.
  • Check your card benefits guide to learn the details of purchase and travel coverage available to you so you can take advantage of it if need be.
  • Use the Spark Cash Plus to simplify budgeting and taxes for your business by keeping year-end summaries and purchase records and assigning an account manager to review transactions and resolve issues.

Bottom line

The Capital One Spark Cash Plus can be a highly rewarding business credit card, especially for big spenders.

While it may not advertise a long list of luxury perks, the benefits it provides can offer excellent value – but only if you’re aware of them.

Make sure to take some time and glance over your Spark Cash Plus benefits guide. Familiarize yourself with benefits’ terms and conditions so you can get the most out of your card.

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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