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If you spend a lot to run your small business, you can earn $590 total cash back toward your bottom line with a single card offer. It sounds bonkers, but it’s possible with the Capital One® Spark® Cash for Business card.
For a limited time, you’ll earn a $500 cash bonus after meeting minimum spending requirements. And with the bonus and full minimum spending considered, you’ll have $590 to spend however you like! Plus, you’ll earn unlimited 2% cash back on every purchase and pay NO foreign transaction fees abroad.
The annual fee is also waived the first year, so if you have a lot of purchases coming up, there’s nothing to lose and a LOT to gain!
I’ll share the offer details!
Capital One Spark Cash Card Review
Apply Here: Capital One® Spark® Cash for Business
You’ll earn unlimited 2% cash back on all purchases. There are NO foreign transaction fees.
And the $95 annual fee is waived the first year. Employee cards are also free.
While that sounds like a lot, it comes to ~$8,333 per month for 6 months. Not only would you earn $500 sign-up bonus, but you’ll also earn 2% cash back on the $4,500 spent to trigger it, which is an additional $90 ($4,500 X 2%). That’s $590 for signing-up and using ONE card!
This offer is for a limited time, and we don’t know the end date. So if you’re interested, I’d recommend signing-up when know you can meet the full spending requirement.
Keep in mind, Capital One pulls inquiries from all 3 credit bureaus when you apply for their cards, so you will incur 3 hard pulls – 1 from each bureau.
And Capital One small business cards DO appear on your personal credit report. So if you’re trying to stay under Chase’s 5/24 rule, this card will count toward your limit.
How to Use Capital One Spark Cash Back
Redeeming your cash back is easy. Remember, you’ll earn a straight 2% cash back on every purchase.
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!
Folks who want an easy rewards program can use their cash back however they want without having to think about blackout dates, what qualifies for cash back, or much else. Really, it couldn’t be simpler.
Capital One Spark Cash Benefits
If an item you bought is lost or stolen, you can file a claim to replace, repair, or reimburse eligible items within 90 days of purchase, up to $10,000 per claim and $50,000 per cardholder.
This benefit doubles a manufacturer’s warranty up to 1 extra year on warranties of 3 years or less.
Rental Car Insurance
The Capital One Spark Cash for Business offers primary car rental insurance for damage due to collision or theft when renting for business purposes. For personal rentals, coverage is secondary, which means your personal or business car insurance company pays first.
Is the Capital One Spark Cash for Business Worth the Annual Fee?
Other 2% cash back cards have NO annual fee. But there are also catches to redeem the rewards you earn. With this card, you’re essentially paying the annual fee in exchange for the ease of using your points however you want.
So whether it makes sense for you to keep the card year after year will vary from person to person, because everyone has spending habits and values different parts of each rewards program.
That said, you’d need to spend $4,750 per year to earn $95 in rewards ($4,750 X 2%). But if you’re opening the Capital One Spark Cash for Business card to earn the big sign-up bonus, you’re likely already spending much more than that.
And the value of $590 cash back with the current offer is more than enough to justify the annual fee for several years!
Does the Capital One Spark Cash for Business Have a Foreign Transaction Fee?
Who Is Eligible for the Capital One Spark Cash for Business?
This is a small business card, and 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!
Remember, Capital One will NOT process more than 1 application per 6 months. So if you’ve opened another Capital One card recently, you’ll need to wait to apply for this one.
Capital One also pulls from all 3 main credit bureaus (Experian, Equifax, and TransUnion) 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.
If you have a credit score of 700+, and looking for a big sign-up offer, this offer is definitely worth your consideration.
Customer Support for the Capital One Spark Cash for Business Card
Capital One is known for their quality customer service support. They protect your card account with fraud coverage and alerts, and make it easy to set up alerts related to your account including due dates, credit limits, and automatic payments.
Plus, their website and phone apps are easy to use and laid out simply. The ease of use and excellent customer service has earned Capital One an excellent reputation over the years.
Credit Cards Similar to the Capital One Spark Cash for Business
Apply Here: Capital One® Spark® Miles for Business
Apply Here: Ink Business Unlimited Credit Card
Read our review of the Ink Business Unlimited
If your goal is to travel, you might consider the Capital One® Spark® Miles for Business card instead. It earns 2X Spark miles on every purchase, and you can redeem them for nearly any travel-related purchase. And it has a similar sign-up bonus of 50,000 Capital One Spark miles (worth $500) after meeting minimum spending requirements.
While that may seem limiting, consider you can transfer your miles to 12 airline partners at a 2:1.5 ratio. That makes the miles you earn extremely flexible!
The card has the same $95 annual fee, which is also waived the first year.
And if the spending requirements for this offer are too much, consider the Ink Business Unlimited Credit Card. You can earn 50,000 Chase Ultimate Rewards points (worth $500 cash back) after spending $3,000 on purchases within the first 3 months of opening your account.
You’ll also earn 1.5 Chase Ultimate Rewards points (1.5% cash back) per $1 spent on the card. That’s not as much as the 2% cash back with the Capital One Spark Cash for Business card, but the Ink Business Unlimited Credit Card has NO annual fee.
So if you want a simple rewards program without any fees to worry about (and a MUCH smaller minimum spending requirement to earn the bonus), you might consider the Ink Business Unlimited instead.
The Capital One Spark Cash for Business card offers up to $500 cash back after meeting minimum spending requirements. The $95 annual fee is waived the first year and it has NO foreign transaction fees. So it’s a good card to use worldwide.
This is an excellent card for small business owners who want to earn easy rewards on their spending. That’s because the rewards are simple to redeem with no minimums to think about.
If you have a lot of spending coming up, you might consider earning a huge amount of cash at the same time. And here’s how you might already qualify for small business credit cards.
You can apply for the Capital One Spark Cash for Business card here. This is a limited-time offer, and we don’t know when it will end yet.
Let me know if you apply!