Capital One Spark Cash Select for Business Review

If you’re looking for a cash back business credit card, you should consider the Capital One Spark Cash Select for Business. With no annual fee, this card could help you receive cash back on purchases without having to track categories. This card is excellent for a business owner looking for a simple rewards program that doesn’t cost to maintain.

Take a look at our detailed breakdown of the Capital One Spark Cash Select for Business to see if it’s the right fit for your company to start earning cash back.

Down to business with the Capital One Spark Cash Select for Business

  • APR: 0% for the initial nine months, then 14.49%-22.49% variable.
  • Annual Fee: $0
  • Rewards Rates: Receive 1.5% back on all purchases.
  • Intro Offer: Get $200 cash back when you spend $3,000 in the first 90 days after opening an account.

Perks and features of the Capital One Spark Cash Select for Business

  • Employee cards at no charge: You won’t pay anything for additional employee cards for all your staff, and they earn the same rewards.
  • No foreign transaction fees: You won’t have to pay extra fees when you use this card while traveling abroad. This can save you as much as 3% per transaction, which can add up significantly over time.
  • Rental car coverage: When you book a rental car using this card, you’ll get collision and theft insurance on the car that won’t require paying those high insurance fees.
  • Travel protections: Through Visa, you get lost or stolen luggage insurance, Roadside Dispatch®, emergency assistance services and travel accident insurance.
  • Fraud protection: You’ll receive alerts for any suspicious purchases and won’t be liable for any fraudulent purchases made on your card.

Is the Capital One Spark Cash Select for Business right for my business?

To max out the value in this card, you’ll want to spend $3,000 in the first three months on the card so you get the $200 statement credit. If you plan to hold a balance on your account, you won’t have to pay interest for the first nine months.

The Capital One Spark Cash Select for Business is perfect for someone who craves an easy rewards structure. If you don’t have the time to make sure you’re spending in the right categories, this card is a promising option. You’ll get 1.5% cash back for everything you and your employees buy without having to track bonus categories. Plus, not paying an annual fee is a major perk — many rewards cards charge around $100 each year merely to have the card.

However, this card might not be perfect for every business owner. If you’re hoping to earn a lot of cash back, the 1.5% rewards rate on this Capital One credit card might not cut it for you. If you want cash back rewards card with no annual fee but a larger sign up bonus, you could look into the Chase Ink Business Cash Card. With this Chase credit card, you’ll get $500 cash back after you spend $3,000 in the first 90 days, which is a better sign up bonus than the Capital One Spark Cash Select for Business. The Ink Business Cash Card also offers no interest on purchases for the first 12 months, three months longer than Capital One Spark Cash Select for Business. The Ink Business Cash Card’s APR after the intro period is 14.74%-20.74% variable.

The rewards are higher on the Chase Ink Business Cash Card. You’ll get 5% cash back for office supplies and telecommunications services, 2% back for gas and dining purchases and 1% back on everything else. However, this business credit card requires more work on your end — you have to track categories to ensure you are getting the highest possible rewards back. The cash back potential is higher, but so is the amount of energy you have to put into it. If you’re not looking for a card that requires a little extra work to earn rewards, you’re better off sticking with the Capital One Spark Cash Select for Business.

The bottom line

If company operations take up the majority of your time, the Capital One Spark Cash Select for Business could be the perfect fit for you. The card’s rewards program is straightforward and requires no extra effort to start earning cash back on your purchases. Plus, you won’t have to pay an annual fee.

But if you have some breathing room and want to maximize cash back with bonus categories, you’ll likely be able to find a better business card elsewhere. Other cards require you to put in more effort, but you will probably earn more cash back than with the Capital One card. Whichever route you decide to go, you can be well on your way to earning cash back for all your routine business expenses — without paying an annual fee