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The Capital One Spark Cash for Business card comes with a $500 sign-up bonus after meeting minimum spending requirements. Plus perks like unlimited 2% cash back on every purchase and no foreign transaction fees!
With a good sign-up bonus, a simple cash-back earnings structure, and an annual fee that’s waived the first year, this card could be worth considering.
But if you’re new to the world of miles & points, it is NOT the best card to start with. I’ll explain why.
I’ll share the details of this offer. And help you decide whether the Capital One Spark Cash for Business card makes sense for you!
Capital One Spark Cash Card Review
You’ll also get unlimited 2% cash back on all purchases. And redeeming your cash back is easy.
You can request a check or statement credit, any time, with no minimum redemption amount. Or you can set-up an automatic redemption, like $50 per month, for example. Whatever works for you!
The $95 annual fee is waived the first year, and the card does NOT have foreign transaction fees.
Because this is a business card, lots of folks don’t realize they’re eligible to apply because they don’t think they have a business, or their business is too new. But here’s how you might qualify for a business card, and why you should get one!
If you’re looking for a small business card with NO annual fee, check out my top 5 no-annual-fee business cards for 2017 (that includes a different Capital One Spark card!).
Who Should Consider This Card?
Some folks avoid Capital One cards because they pull all 3 main credit bureaus when they process your application.
Most banks, like Chase and American Express, only pull from one. So applying for a card from Capital One has a bigger temporary effect on your credit score. Your score will bounce back if you pay your bills on time.
For that reason, folks trying to get under Chase’s 5/24 rule, or those new to miles & points, might want to skip this card. Because applying for the Capital One Spark Cash for Business WILL count against Chase’s stricter approval rules. And Capital One reports business cards to personal credit bureaus.
I always recommend getting any Chase cards you want first. Because they have some of the most valuable credit cards for getting Big Travel with Small Money! You can read more about the best card strategy for beginners, here.
But if you’re well over Chase’s 5/24 rule and don’t want to apply for more Chase cards soon, consider the Capital One Spark Cash for Business card.
Because it earns 2% cash back on every purchase and the cash back is easy to redeem. If you’re looking for a straightforward cash back card, this is a good pick!
Plus, there aren’t many other cards where you can get 2% cash back on any purchase overseas, without being hit with foreign transaction fees.
And business cards like the SimplyCash® Plus Business Credit Card from American Express, Chase Ink Business Cash Credit Card, or Chase Ink Business Preferred, might be a better choice for folks who don’t want 3 inquiries on their credit report. And those who tend to do a majority of spending in categories like travel, office supplies, or cable, internet, and phone service.
Because, for example, with a card like the AMEX SimplyCash Plus, you’ll earn 5% cash back on wireless telephone services purchased directly from US service providers and US office supply stores up to $50,000 then 1% thereafter.
With the Chase Ink Cash, you’ll get 5% cash back (5X Chase Ultimate Rewards points) on the first $25,000 spent in combined purchases at office supply stores and on cellular phone, landline, internet and cable TV services each account anniversary year.
And with the Chase Ink Business Preferred, you’ll earn 3X Chase Ultimate Rewards points in categories like travel, internet, cable, phone services, and more. That’s worth more than the 2% back you’ll earn with the Capital One Spark Cash small business card.
Along with a nice cash sign-up bonus, you’ll earn 2% cash back on every purchase, which you can easily redeem as a statement credit or check. And there’s no minimum cash back requirement!
But be aware, Capital One pulls from all 3 main credit bureaus when they process your application. And they report small business cards to your personal credit reports. So if you’re new to miles & points or want to apply for more Chase cards, applying for this card might not be worth it.
That said, with a decent sign-up bonus, simple cash-back rewards structure, and no foreign transaction fees, the Capital One Spark Cash for Business card could make sense for some!