Is the Capital One Spark Cash worth it?
Signing up for credit cards through partner links earns us a commission. Terms apply to the offers listed on this page. Here’s our full advertising policy: How we make money.
The Capital One® Spark® Cash for Business is a great pick for small business owners who want a solid return for their spending without investing in a complicated rewards system. The card earns a flat 2% cash back on all purchases. And it comes with a welcome bonus worth $500 in cash after meeting minimum spending requirements.
The card also has a $95 annual fee (waived the first year). Let’s take a look to see when the Capital One Spark Cash is worth it.
The information for the Capital One Spark Cash has been collected independently by Million Mile Secrets. The card details on this page have not been reviewed or provided by the card issuer.
Is the Capital One Spark Cash worth it?
If you’re a small business owner with a 700+ credit score, you have the golden ticket to free travel. There are SO many amazing small business credit card options that can earn you tons in cash or travel, and the Capital One Spark Cash is one of them.
The card comes with an intro offer of $500 in cash after you spend $4,500 on qualifying purchases within the first three months of account opening.
That’s an solid deal. And because its $95 annual fee is waived the first year, opening the card is a no-brainer. It’s like Capital One is paying you to open the card. There’s very little downside.
What about after the first year?
The Capital One Spark Cash has a few advantages over many other small business credit cards.
Lots of MMS readers like Capital One credit cards because they are so effortless. You’re not juggling bonus categories, your rewards are easy to redeem, and the entire program is very transparent.
With the Capital One Spark Cash, you’re earning cash instead of points. Cash is the easiest type of reward to redeem — you don’t have to spend it on travel – you can reinvest that money back into your business if you like.
The card also has a solid earning rate. You’ll receive 2 cents for every dollar you spend. Just note that the first $4,750 you spend each year will only cause you to break even with the $95 annual fee. ($4,750 X 2 cents per dollar). That stings unless you get solid value from the card’s other benefits. Read our Capital One Spark Cash Card review for more details.
Great insurance benefits
The Capital One Spark Cash comes with a few handy business insurance benefits, too, my favorite of which is primary rental car insurance when renting for business purposes. If you don’t already have a travel credit card that offers primary rental car insurance, this can save you a lot of money. You can waive the rental agency’s insurance (often $15+ per day), and your card will cover damage due to collision or theft to your rental car.
Note: If you rent a car for personal reasons, the card offers secondary coverage (it will kick-in for things that your personal insurance doesn’t cover).
As a small business owner, your purchases will be covered when you use the Capital One Spark Cash. If you lose an item within 90 days of the purchase date, you can file a claim for Capital One to replace, repair, or reimburse it. You’re covered for up to $10,000 per claim, $50,000 per cardholder.
The card will even double a manufacturer’s warranty up to 1 extra year on warranties of three years or less. All great perks for a small business!
Capital One is a bit quirky
Capital One has a lot of valuable cards, like the Capital One Venture Rewards Credit Card. If you’ve recently opened any of the best Capital One credit cards, be aware that Capital One won’t approve more than one application every six months.
Additionally, Capital One pulls your credit report from all three main credit bureaus (Equifax, Experian, and TransUnion) when you apply. That concerns some people, though it’s really nothing to worry about.
The Capital One Spark Cash is worth it for some. You’ll earn a $500 cash bonus after meeting minimum spending requirements, and the $95 annual fee is waived the first year. That means you can test the card out for ~11 months, and if you decide it doesn’t fit into your strategy, you can cancel it without paying a dime.
The card is worth keeping if:
- You favor cash over points
- You hate juggling bonus categories
- You have a lot of business expenses
- You will use its insurance benefits, such as primary rental car insurance when renting for business purposes and purchase protection
You really must say YES to all the above for this card to be a keeper. After all, some of the best no-annual-fee credit cards earn an effective 2% back. If you’re going to pay this card’s $95 annual fee, you better get your money’s worth from the card’s ongoing benefits.
Let me know if you think the Capital One Spark Cash is a worthwhile card for your lifestyle. And subscribe to our newsletter for more posts that make hard credit card decisions easier.
Chase Sapphire Preferred® CardAPPLY NOW
Chase Sapphire Preferred® Card
Our best offer ever! Earn 100,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That’s $1,250 when you redeem through Chase Ultimate Rewards®.
Earn 2X points on dining including eligible delivery services, takeout and dining out and travel. Plus, earn 1 point per dollar spent on all other purchases.
Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards®. For example, 100,000 points are worth $1,250 toward travel.
With Pay Yourself Back℠, your points are worth 25% more during the current offer when you redeem them for statement credits against existing purchases in select, rotating categories.
Get unlimited deliveries with a $0 delivery fee and reduced service fees on eligible orders over $12 for a minimum of one year with DashPass, DoorDash’s subscription service. Activate by 12/31/21.
Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
Get up to $60 back on an eligible Peloton Digital or All-Access Membership through 12/31/2021, and get full access to their workout library through the Peloton app, including cardio, running, strength, yoga, and more. Take classes using a phone, tablet, or TV. No fitness equipment is required.
Either $5 or 5% of the amount of each transfer, whichever is greater.
Editorial Note: We're the Million Mile Secrets team. And we're proud of our content, opinions and analysis, and of our reader's comments. These haven’t been reviewed, approved or endorsed by any of the airlines, hotels, or credit card issuers which we often write about. And that’s just how we like it! :)