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Is the Capital One Spark Cash worth it?

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Is the Capital One Spark Cash worth it?

Joseph HostetlerIs the Capital One Spark Cash worth it?Million Mile Secrets Team

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.

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. It comes with a welcome bonus worth up to $2,000 in cash after meeting minimum spending requirements. Who’s gonna say no to a couple grand?

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.

Is the Capital One Spark Cash worth it? Absolutely, IF you’ll truly use its ongoing benefits (Photo by Monkey Business Images/Shutterstock)

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 up to $2,000 in cash:

  • $500 cash bonus when you spend $5,000 in the first three months
  • $1,500 when you spend $50,000 on purchases in the first six months of your account opening

That’s an EXCELLENT 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.

Let’s address that gigantic minimum spending requirement. If you’re a small business with a fair amount of expenses, $50,000 may not even phase you. But for those with smaller businesses, hear this: Even if you can’t spend $50,000 in six months, earning just the $500 bonus is fantastic, as well. If you can spend $5,000 in three months, go for it!

What about after the first year?

The Capital One Spark Cash has a few advantages over many other small business credit cards.

Earning structure

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.

Bottom line

The Capital One Spark Cash is absolutely worth opening.  You’ll earn up to $2,000 after meeting tiered 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.

Capital One® Spark® Cash for Business

Capital One® Spark® Cash for Business

  • Limited Time Offer: Earn up to $2,000 in cash bonuses
  • Earn a $500 cash bonus when you spend $5,000 in the first 3 months and earn $1,500 when you spend $50,000 in the first 6 months of your account opening
  • Earn unlimited 2% cash back for your business on every purchase, everywhere, no limits or category restrictions
  • $0 annual fee for the first year; $95 after that
  • Free employee cards, which also earn unlimited 2% cash back on all purchases
  • $0 Fraud Liability if your card is lost or stolen
  • Rewards won't expire for the life of the account, and you can redeem your cash back for any amount
  • No foreign transaction fees

More Info

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! :)

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Do Capital One biz cards show up on your personal credit report? Will opening this card impact 5/24?

I have noticed these article becoming a lot more of a fluff advertisement piece than one you can turn to as a solid detailed source.

Yes. I seconded it. I would rather go for Chase Ink Series. I see a lot more values in those cards-I have two so far and going for the third one next week. Ink Biz Preferred also comes with primary rental insurance, btw. I have not yet become a fan of Capital One-I don’t like the fact that they pull all three bureaus and their business cc stays on the personal report. Hard core Chase and AMEX fan. But it’s a personal choice.

Yes, it does show up on your personal report. That’s one reason I don’t want it.