Capital One Spark Cash Select review
This card offers busy business owners the ease of flat-rate cash back on every purchase. In addition to the rewards, cardholders enjoy a long list of extra benefits and a nice welcome bonus opportunity.
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Credit Score: credit_score_neededKey Features
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- 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 signup_reward cash back once you spend signup_bonus_spend_amount on purchases within the first three months from account opening.
- This card does not offer a 0% intro APR option and charges an ongoing APR of reg_apr,reg_apr_type.
Capital One Spark Cash Select for Excellent Credit benefits
Simplicity is the beauty of the Capital One Spark Cash Select. The offer and benefits are simple to understand and easy to take full advantage of.
The Capital One Spark Cash Select for Excellent Credit offers new cardholders signup_reward cash back once you spend signup_bonus_spend_amount on purchases within the first three months from account opening. 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 the card 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
- Travel benefits, such as Travel and Emergency Assistance
How to qualify for the Capital One Spark Cash Select for Excellent Credit
In order to qualify for the Capital One Spark Cash Select, you should have excellent credit, which is generally considered at least an 800 FICO score. Please note though that this number can vary by credit bureau. Capital One may also look at other factors from your credit history when determining your eligibility.
Potential downsides of the Capital One Spark Cash Select for Excellent Credit
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 Capital One Spark Cash Select, 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 Capital One Spark Cash Select for Excellent Credit 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 Capital One Spark Cash Select for Excellent Credit. 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 the Capital One Spark Cash Select for Excellent Credit compares to other cards
Capital One Spark Cash Select for Excellent Credit vs. Capital One Spark Cash Plus
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Like the Capital One Spark Cash Select for Excellent Credit, the Capital One Spark Cash Plus 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 Capital One Spark Cash Select for Excellent Credit offers 1.5% cash back on all purchases, Capital One Spark Cash Plus provides unlimited 2% cash back on every purchase, everywhere-with no limits or category restrictions, and unlimited 5% cash back on hotels and rental cars booked through Capital One’s travel booking site. Additionally, the welcome offer gives cardholders an opportunity to earn a one-time cash bonus of $2,000 once you spend $30,000 in the first three months, plus earn an additional $2,000 cash bonus for every $500,000 spent during the first year.
Both cards provide numerous helpful benefits like free employee cards, fraud coverage, and travel and emergency assistance services.
Capital One Spark Cash Select for Excellent Credit vs. Ink Business Unlimited(SM) Credit Card
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The Ink Business Unlimited® Credit Card and the Capital One Spark Cash Select for Excellent Credit are comparable in that they both have no annual fee and they both provide 1.5% cash back on all purchases. However, the Ink Business Unlimited® Credit Card card has the additional benefit of an intro APR of 0% on purchases for the first intro_apr_duration and then RegAPR.
Also, the Ink Business Unlimited® Credit Card offers signup_reward bonus cash back after you spend signup_bonus_spend_amount on purchases in the first three months from account opening.
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 to set spending limits.
Who should get the Capital One Spark Cash Select for Excellent Credit?
If you want a card that will bring in some rewards as you save on many of the fees other cards have, the Capital One Spark Cash Select 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.
Frequently asked questions
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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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For Capital One products listed on this page, some of the benefits may be provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply.
