Capital One Spark Cash Select for Excellent Credit Review
Capital One Spark Cash Select for Excellent Credit
CardRatings Editor's Analysis: Pros & Cons
- This card is great for new business owners who prefer to skip the annual fee.
- A good earn rate and easy-to-manage rewards program with no sign-ups or caps to keep track of makes this a user-friendly option for cardholders.
- New cardholders can earn a $750 bonus once spending $6,000 in the first three months of account opening.
- This card does not offer a 0% intro APR option and charges an ongoing APR of RegAPR.
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TABLE OF CONTENTS
- Capital One Spark Cash Select Benefits
- What We Like About the Spark Cash Select for Business Card
- How to Qualify for the Spark Cash Select for Business
- Capital One Spark Cash Select Fees
- Spark Cash Select for Business Potential Downsides
- How Spark Cash Select Compares to Other Cards
- Should I Get the Capital One Spark Cash Select for Business?
CAPITAL ONE® SPARK CASH SELECT BENEFITS
Simplicity is the beauty of the CardName. The offer and benefits are easy to understand and easy to take full advantage of.
The CardName offers new cardholders a $750 bonus once spending $6,000 in the first three months of opening an account. More savings come in the form of a $0 annual fee. The cash-back rate of 1.5% is not as high as some other cards, but it applies to all purchases made with your CardName and that can easily add up to thousands of dollars per year that you can re-invest into your business.
If your business has several employees with the authority to make purchases on the company credit card, you can also request additional cards at no charge. This allows multiple people to be able to make purchases on the account while racking up the rewards for your business.
As a Spark Cash Select cardholder, you also get the following benefits:
- $0 fraud liability for unauthorized charges
- Itemized report of yearly spending provided at the end of the year to help you with budgeting and taxes
- Free employee cards with spending limits you can customize (See Rates and Fees)
- Travel benefits, such as travel assistance and roadside assistance
Top Features
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- Earn a $250 statement credit after you spend $3,000 in purchases on your new Card within the first 6 months.
- $0 intro annual fee for the first year, then $95.
- Buy Now, Pay Later: Enjoy $0 intro plan fees when you use Plan It® to split up large purchases into monthly installments. Pay $0 intro plan fees on plans created during the first 12 months from the date of account opening. Plans created after that will have a monthly plan fee up to 1.33% of each eligible purchase amount moved into a plan based on the plan duration, the APR that would otherwise apply to the purchase, and other factors.
- Low Intro APR: 0% on purchases and balance transfers for 12 months from the date of account opening. After that, your APR will be a variable APR of 19.24% - 29.99%. Variable APRs will not exceed 29.99%.
- 6% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%).
- 6% Cash Back on select U.S. streaming subscriptions.
- 3% Cash Back at U.S. gas stations.
- 3% Cash Back on transit (including taxis/rideshare, parking, tolls, trains, buses and more).
- 1% Cash Back on other purchases.
- Cash Back is received in the form of Reward Dollars that can be redeemed as a statement credit or at Amazon.com checkout.
- Get up to $120 in statement credits annually when you pay for an auto-renewing subscription to Equinox+ at equinoxplus.com with your Blue Cash Preferred® Card. That's $10 in statement credits each month. Enrollment required.
- Thinking about getting the Disney Bundle which can include Disney+, Hulu, and ESPN+? Your decision made easy with $7/month back in the form of a statement credit after you spend $9.99 or more each month on an eligible subscription (subject to auto renewal) with your Blue Cash Preferred® Card. Enrollment required.
- Terms Apply.
WHAT WE LIKE ABOUT THE SPARK CASH SELECT CARD
As a business owner, you can always find a use for some extra cash and the CardName provides you with several ways to bolster your bank account. The $0 annual fee is a savings of at least $95 a year over many, if not most, small business rewards cards. See Rates and Fees
You can earn a one-time $750 bonus after you spend $6,000 in purchases in the first three months. And then there is the enticing 1.5% cash back on every purchase with no limit on how much you can earn. Even if your business makes just $5,000 in purchases per month using the CardName, that would mean $750 in cash back each year. And the best part, you can redeem cash-back rewards at any time in any amount. No minimum. The rewards won't expire for the life of the account.The simplicity of the CardName might be the best part. You don't have to worry about rotating categories – or any categories at all, in fact – to maximize your cash-back rewards. It's a straight 1.5% across the board on all purchases.
HOW TO QUALIFY FOR THE CAPITAL ONE SPARK CASH SELECT CARD
In order to qualify for CardName, you should have excellent credit, which is considered at least an 800 FICO score.
POTENTIAL DOWNSIDES OF THE CAPITAL ONE SPARK CASH SELECT
For anyone looking for a high cash back rate for their purchases, there are better choices out there. If you travel a great deal on business, you can still earn quite a bit of cash-back rewards with the CardName, but you might do better with a card that offers reward miles or some special redemption options when it comes to travel. With some, the travel rewards you earn can carry a higher cash value than the 1.5% the CardName offers.
Also, if you have the time and inclination to manage your account closely, a card that offers higher cash-back rewards in particular categories your business frequently shops in could prove worth your time and attention. Finally, your creditworthiness and your ability to make on-time payments is critical to making the most of the CardName. To begin with, you need excellent credit to qualify for this card. And paying on time is critical as missed or late payments will quickly rack up interest charges that will eat into any of your rewards.
HOW CAPITAL ONE SPARK CASH SELECT COMPARES TO OTHER CREDIT CARDS
Capital One Spark Cash Select vs. CardName
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Like the CardName, the CardName is a simple business card that allows you to get all of your supplies and earn cash back. However, the difference is the amount of cash you can earn with each card as well as some of the ongoing benefits and rewards opportunities.
While the CardName offers 1.5% cash back on all purchases, CardName provides unlimited 2% cash back on purchases, as well as the welcome offer opportunity to earn a one-time cash bonus of $1,200 once you spend $30,000 in the first three months.
Both cards provide numerous helpful benefits like free employee cards, itemized spending summaries, and travel assistance. See Rates and Fees
Spark Cash Select vs. Chase Ink Business Unlimited
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The CardName and the CardName are comparable in that they both have no annual fee and they both provide 1.5% cash back on all purchases. However, the CardName card has the additional benefit of an intro APR of 0% on purchases for the first 12 months and then RegAPR. See Rates and Fees
Also, the CardName offers $750 bonus cash back if you spend $6,000 on purchases in the first three months.
However, for the international traveler, the Spark Cash Select card is a better choice with no fee on foreign transactions, compared to the Ink Business Unlimited card's foreign transaction fee of foreign_fee.
Both cards allow you to add employee cards for free and set spending limits.
Spark Cash Select vs. CardName
American Express is a CardRatings advertiser.
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CardName provides a 2% cash back rate on all eligible purchases up to $50,000, then the amount drops down to 1% thereafter.
Also, there is an introductory APR of 0% on purchases for the first 12 months after opening the account, and then RegAPR. In addition, CardName includes Expanded Buying Power, so you can spend above your credit limit, with an amount adjusted based on your credit and payment histories, as well as how much you use your card.
Both cards provide free cards for employees, as well as tools to help you better manage your expenses. Also, both have no annual fee.
SHOULD I GET THE CAPITAL ONE SPARK CASH SELECT CARD?
If you want a card that will bring in some rewards as you save on many of the fees other cards have, the CardName is a good choice.
If you are the owner of a growing business that doesn't do much traveling, this card can provide multiple opportunities to save money and earn money that can be invested back into your business.
In addition, the rewards program is easy to understand and make the most of. Anyone who likes to see their bank account grow without having to jump through too many hoops should also have this card in their wallet.
For rates and fees for CardName (See Rates and Fees).
For Capital One products listed on this page, some of the above benefits are provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply.
Capital One Spark Cash Select for Excellent Credit Compared to Other Cash back Cards
Disclaimer: The information in this article is believed to be accurate as of the date it was written. Please keep in mind that credit card offers change frequently. Therefore, we cannot guarantee the accuracy of the information in this article. Reasonable efforts are made to maintain accurate information. See the online credit card application for full terms and conditions on offers and rewards. Please verify all terms and conditions of any credit card prior to applying.
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