What sets Capital One® Spark® Cash for Business apart from others? At the heart, 2 percent cash back on every purchase blows other small-business cards away. Though other business cards may offer higher credit limits and seasonal bonuses, Capital One's streamlined rewards program could encourage you to put a Spark card at the heart of your company's cash-management strategy.
Capital One has staked a major claim in the rewards credit card marketplace, promoting travel rewards of up to two miles per dollar on its Venture line and cash-back rewards of up to 1.5 percent on its Capital One Quicksilver consumer cards. Capital One® Spark® Cash for Business is the company's first business card that offers a straightforward 2 percent cash back on every purchase, every day. Unlike other rewards credit cards, Capital One® Spark® Cash for Business doesn't cap cash back rewards or require a spending threshold to qualify redemption.
Depending on how you operate your business, you can request a statement credit for your accrued rewards at any time through the Capital One website, with just a few mouse clicks. Or, if you want to build your cash-back rewards into a more formal accounting process, you can set an automatic redemption for a specific date or for when your cash back rewards hits a predetermined level. No matter how you opt to redeem, your cash rewards don’t expire for the life of the account.
Beyond Capital One's generous cash-back rewards, Capital One® Spark® Cash for Business offers a relatively low variable interest rate for purchases and a reasonable annual fee ($0 introductory annual fee for first year; $95 after that) for a business rewards card. In exchange, you'll gain access to multiple business-friendly benefits and features.
This card is for business owners with excellent/good credit. Credit-level guidelines on Capital One’s website say “excellent” applies to those who have never declared bankruptcy or defaulted on a loan; have not been more than 60 days late on any credit card, medical bill, or loan in the last year; and those who’ve had a loan or credit card for three years or more with a credit limit above $5,000. Keep in mind that other factors may determine if you are eligible for this card.
Like American Express,a CardRatings.com advertiser, and Chase, Capital One has loaded its line of small-business credit cards with added accounting features. While Chase has developed some more sophisticated reporting tools, depending on where you spend the most, you could earn 5% cash back in select business categories(and pay $0 in annual fees) with the Ink Business CashSM Credit Card. If you're already carrying a traditional American Express charge card, you can use a Spark Cash card at merchants that don't accept American Express.