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Capital One® Spark® Cash Select for Business review

Published: May 17, 2018

Partner Offer: carefully review product terms on Capital One's site before applying

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Ratings Policy
Business Rating:
3.7 rating
3.7 rating
3.7 / 5
Rewards Value 2.6
Annual Percentage Rate 1.0
Rewards Flexibility 4.8
Features 4.0

In a nutshell:

The Spark Cash Select from Capital One is a good no-fee business credit card that doles out 1.5 percent cash back for every dollar you spend.

Learn more about this card

Rewards Rate
1.5% cash back on every purchase

Introductory Bonus
$200 if you spend $3,000 in first 3 months

Annual Fee
$0

Average Yearly Rewards Value ($4,000 monthly spend)
$787

APR
14.49-22.49% (variable)

Rewards Redemption
Pros

  • Rewards don’t expire
  • No limit on amount of cash back you can earn
  • Redeem any amount of cash back at any time
  • Set account to automatically deposit cash back once you reach a certain threshold
  • No enrollment required to earn cash back
  • Also redeem rewards for gift cards or charitable contributions
  • No annual fee

Cons

  • Can’t redeem for travel rewards or transfer points to hotel or airline transfer partners

Other Notable Features: Free employee cards, discounts on business purchases with Visa SavingsEdge, quarterly and year-end summary, downloadable purchase records, fraud coverage, no foreign transaction fees, car rental insurance, purchase protection, extended warranties, travel and emergency assistance, roadside dispatch, VIP access and special events, shopping discounts, emergency card services, price protection, lost luggage reimbursement and travel accident insurance

If you’re looking for a business card with rewards that are easy to use and understand, the Spark Cash Select from Capital One may be ideal. This card offers a flat rate of 1.5-percent cash back for all your purchases without any limits or special categories to keep track of.

As an incentive to sign up, you’ll also receive a cash bonus of $200 after you use your card for $3,000 in purchases within three months of account opening.

The fact the Spark Cash Select from Capital One comes with no annual fee means you can keep it indefinitely without paying for the privilege or wondering if you’re wasting money. Capital One throws free employee cards into the mix to make an easy-to-use cash back card nearly any business owner could benefit from.

The sign-up bonus is lacking

While the Spark Cash Select from Capital One does offer a sign-up bonus, it’s not up to par with the bonuses offered by some other cash back cards for businesses. $200 is an average-sized bonus for a business card — you could score a bigger initial bonus with many comparable cards, including the Capital One Spark Cash card.

Good ongoing rewards rate

At the same time, this card’s overall rewards rate of 1.5 percent is fairly good. This flat rate, which offered on an unlimited basis for all your spending, may also be attractive for business owners who don’t want to keep track of rotating categories or limits.

However, keep in mind that some cash back and general rewards cards for businesses offer a much higher rate of return for spending in special categories. If your business spends a ton on expenses such as telephone services or office supply stores, you may be wise to seek out a card that offers a bonus rate on those purchases.

No fee is hard to beat

This card’s sign-up bonus and rate of return may not “wow” you, but the fact this card comes with no annual fee makes it much more attractive. Earning a flat rate of 1.5 percent cash back with no strings attached can be a lucrative endeavor — especially if your business spends a lot of money each month.

Simple, but limited rewards

When it comes to the rewards you earn with the Spark Cash Select card, there are both pros and cons to consider. A huge benefit is that you can use your rewards however you want with no restrictions.

Once you start racking up rewards with this card, you can redeem them for statement credits at any time for any amount. This means you can save up rewards for a long time to cover a large expense or redeem rewards in small amounts as you please.

The card also lets you redeem rewards for gift cards or charitable donations. Plus, rewards don’t expire, which means you won’t have to worry about using them on a specific timeline.

On the negative side, the card is not ideal for travel enthusiasts. You can’t transfer points to airline or hotel partners, for example. You can use your rewards for travel if you decide to redeem them for statement credits to cover travel expenses, but you won’t receive any added value for doing so as you would with some travel rewards cards. No matter how you redeem the points you earn, you’ll get a flat redemption value of 1 cent per point.

If you’re someone who likes to travel and wants to glean more value from your points to cover travel expenses, you may want to consider a travel credit card instead of the Spark Cash Select card.

Other card benefits

Despite the fact this card doesn’t have an annual fee, it still comes with a surprising number of benefits, including benefits for business owners, such as free employee cards and discounts on business purchases with Visa SavingsEdge. Business owners can also benefit from receiving a quarterly and year-end summary of their spending as well as purchase records they can download.

Other card benefits include 0-percent fraud liability, no foreign transaction fees, car rental insurance, purchase protection, extended warranties, travel and emergency assistance, price protection and roadside dispatch. Cardholders will also get access to special VIP events, shopping discounts, emergency card services, lost luggage reimbursement and travel accident insurance.

Why get the Spark Cash Select card?

  • You want to earn a flat rate of cash rewards without worrying about bonus categories or earning limits.
  • You prefer easy redemptions such as cash back and gift cards.
  • You’re not interested in earning more lucrative rewards for travel right now. 

How to Use the Spark Cash card:

  • Use your card for all your business expenses to earn a flat rate of 1.5 percent cash back.
  • Spend at least $3,000 on your card within three months of account opening to earn an extra $200 in bonus cash.
  • Get free employee cards for all your workers so you can rack up cash back on their purchases.

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