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The information for the following product(s) has been collected independently by Business Insider: Capital One Spark Cash Select†, Capital One Spark Cash Select for Good Credit†, Capital One Spark Miles for Business†, Capital One Spark Cash Plus†. The details for these products have not been reviewed or provided by the issuer.
The Capital One Spark Cash Select† is worth considering if you're looking for a no-annual-fee business credit card with a solid welcome bonus offer and straightforward earning. But there are better options out there if you're seeking upscale perks.
Capital One is making a big push to be the go-to choice for aspiring entrepreneurs by issuing some of the best small business cards. One of these cards, the Capital One Spark Cash Select†, is designed to deliver what every business needs: cash.
Capital One Spark Cash Select Overview
For nearly every purchase you make on the Capital One Spark Cash Select†, you'll earn 1.5% cash back. There are no minimums and no expiration dates, which lets you focus your energy on your business instead of ever thinking about earning limitations once you cross a certain spending threshold.
There is no annual fee for the Capital One Spark Cash Select†, and there's a welcome bonus offer of a $500 bonus after spending $6,000 on purchases in the first three months of account opening.
So, think about your upcoming business expenses: If you have to book some flights or purchase some pricey office equipment in the near future, that bonus may be within easy reach.
$0
N/A
17.99% - 23.99% Variable
Earn a $500 bonus
Excellent
- Strong welcome bonus for a no-annual-fee card
- Solid 1.5% cash back on all purchases with no limit to what you can earn
- No intro APR offer
- Other similar small-business cards have stronger travel and purchase benefits
- Requires excellent credit to qualify
The Capital One Spark Cash Select for Excellent Credit is worth considering if you're looking for a no-annual-fee business credit card with a solid welcome bonus offer and straightforward earning. But there are better options out there if you're seeking upscale perks.
Who Should and Shouldn't Consider the Capital One Spark Cash Select for Business
Capital One makes it easy to understand how the bank perceives your past financial decisions with a simple description of the key components that make up an excellent credit score:
- No bankruptcy declarations or loan defaults
- No payments on credit cards, medical bills, or loans that are more than 60 days late in the past year
- A loan or credit card with a credit limit above $5,000 that has been open for the past three years
If you don't check all those boxes, Capital One has a Capital One Spark Cash Select for Good Credit† that might be a better fit — there's no welcome bonus offer, though, but it does offer a 0% intro APR on purchases for 12 months from account opening (then a 21.24% - 29.24% Variable APR).
If you can satisfy all those requirements, it's time to think about your expectations from a credit card. If you want luxury travel benefits and you're willing to shell out a sizable annual fee each year, this isn't for you — you may be better off with one of the best premium credit cards like The Business Platinum Card® from American Express.
However, if you're looking for an entry-level card with a straightforward rewards structure, the Capital One Spark Cash Select† should be on your list. Do plenty of comparison shopping, though, and think about how you spend your dollars.
For example, the Ink Business Preferred® Credit Card offers 3x Chase Ultimate Rewards® points on advertising, shipping, communications services, and travel on up to $150,000 of annual expenses (then 1x). While that card comes with a $95 annual fee, the elevated earning opportunities can make sense for certain kinds of businesses.
Capital One Spark Cash Select for Business Rewards
Welcome Bonus
The card currently offers a $500 bonus after spending $6,000 on purchases in the first three months of account opening. That's an excellent offer for a no-annual-fee cash-back business card, considering many offer bonuses worth half that amount.
Keep an eye on the card's minimum spending requirement to unlock the bonus. If your business won't spend that much in the first three months from account opening, you might want to consider a different card.
Earning Rewards
Earning rewards with the Capital One Spark Cash Select† is super easy: Use it to pay for your expenses, and you'll earn:
- 5% cash back on hotels and car rentals booked through the Capital One Travel portal
- 1.5% cash back on all other purchases
There are no other bonus categories, but that does make the math quite straightforward. Add up all your business expenses from last year (except any hotels or car rentals booked through Capital One Travel), and multiply by .015 to understand how much cash back you would have earned by paying with this card.
Earning a flat rate of rewards is ideal for small business owners who want to keep things simple. However, you might miss out on lucrative bonus rewards from other cards if your business spends a lot in popular categories. Keep in mind, too, that there are a number of 2% cash back credit cards on the market that can earn you more rewards, although you may have to pay an annual fee.
Redeeming Rewards
Using your rewards is also simple: You can request a statement credit or a check as you rack up cash back with the card. There's no minimum redemption amount.
However, if you also have a Capital One credit card that earns miles, like the Capital One Venture Rewards Credit Card, Capital One Venture X Rewards Credit Card, or Capital One Spark Miles for Business† , you can convert your cash back into miles. Then, you'll have the flexibility to transfer those miles to Capital One's airline and hotel partners including Air Canada, British Airways, Wyndham, and plenty of other companies that can help you see the world. Just use the "Move Rewards" feature on the reward redemption page in your account.
Capital One Spark Cash Select for Business Benefits and Features
While plenty of the best rewards business cards come loaded with extra perks and elevated earnings in certain categories, you don't find a laundry list of statement credits and elite perks with Capital One Spark Cash Select†.
Still, there are some features that can help you empower employees, find extra savings, and protect yourself when you're away from home.
Purchase Records
If you use Quicken, QuickBooks, or Excel to manage your expenses, you can sync your purchases to identify spending patterns and simplify your taxes.
Employee Cards
All of Capital One's small business cards come with the ability to get free credit cards for your employees. You'll earn cash back on their purchases, and you can set customized spending limits on the other cards.
Rental Collision Coverage and Roadside Assistance
Whenever you're traveling, this card comes with collision insurance coverage for any damage to rental vehicles. You'll also enjoy peace of mind with emergency services to change tires or tow a damaged vehicle.
Extended Warranty
When you use your Capital One Spark Cash Select† to pay for an eligible item, you can get free additional warranty and protection.
Capital One Spark Cash Select for Business Annual Fee and Other Costs
There is no annual fee with the Capital One Spark Cash Select†, which is excellent news for your business' bottom line. Plus, if you travel out of the U.S., you won't have to pay any foreign transaction fees.
Keep in mind the card charges a 17.99% - 23.99% Variable APR, so you'll want to make sure that you pay your balance in full. As with most other cards, there are also fees for things like cash advances and late payments.
Compare the Capital One Spark Cash Select for Business
Capital One Spark Cash Select† | Capital One Spark Cash Plus† | Capital One Spark Miles for Business† | |
Annual fee | $0 | $150 | $95, waived the first year |
Rewards rate | 5% cash back on hotels and rental cars booked through Capital One Travel 1.5% cash back on all other purchases | 5% cash back on hotels and rental cars booked through Capital One Travel 2% cash back on all other purchases | 5 miles per dollar on hotels, vacation rentals and rental cars booked through Capital One Travel 2x miles on all other purchases |
Welcome bonus offer | $500 bonus after spending $6,000 on purchases in the first three months of account opening | $2,000 cash bonus when you spend $30,000 in the first three months and an additional $2,000 cash bonus for every $500,000 spent during the first year | 50,000 miles once you spend $4,500 on purchases within the first three months from account opening |
Card benefits | Car rental insurance Extended warranty Roadside assistance No foreign transaction fees | No preset spending limit Earn a $150 bonus every year you spend $150,000 or more on your card Car rental insurance*** Extended warranty*** Roadside and travel assistance*** No foreign transaction fees | Global Entry or TSA PreCheck® application fee credit Two Capital One Lounge passes each year Extended warranty*** Visa or Mastercard benefits (depending on card version) No foreign transaction fees |
Review |
Capital One Spark Cash Select for Business Frequently Asked Questions
To be eligible for the card, you'll need an excellent credit score. That means a FICO score of 800 or higher.
To apply for the Capital One Spark Cash Select†, you'll need to have a business. It doesn't have to be a full-time venture or large corporation — you can apply as a sole proprietor using your Social Security Number. It's definitely possible to qualify for small business cards with a part-time business or side gig like petsitting, reselling online, or delivering for Instacart.
The Capital One Spark Cash Select† is a very respectable small-business card that earns generous rewards for no annual fee. For business owners who like simplicity, it's a great choice.
Just keep in mind the card doesn't come packed with as many perks as some business cards with annual fees do. If you're happy with a fairly no-frills product, this is a good card.
If you don't have a high enough credit score to qualify for the Capital One Spark Cash Select† but you like the card's earning structure and benefits, you might consider the card's sibling.
The Capital One Spark Cash Select for Good Credit†, as the name implies, only requires a good credit score to be eligible to apply. The biggest difference between it and the excellent-credit version is there's no welcome bonus offer.
Instead, new Capital One Spark Cash Select for Good Credit† cardholders can take advantage of a 0% intro APR on purchases for 12 months from account opening (followed by a 21.24% - 29.24% Variable APR). That could be a better deal than earning a welcome bonus if your business has large expenses coming up that need to be paid for over time. You could end up saving even more on interest if your business has considerable spending.
Why You Should Trust Us: How We Reviewed the Capital One Spark Cash Select
Personal Finance Insider's credit card team compared the Capital One Spark Cash Select† to other small business cards issued by Capital One and other banks. We assessed the card against cash-back business cards in particular, and looked at several factors that included:
- Ease of use — Is the card's rewards earning and redeeming straightforward? Can you use your rewards in multiple ways?
- Rewards earning potential — Does the card come with strong earning rates for business owners? If there are bonus categories, are they useful and are any of them capped at a spending limit?
- Benefits — Do the card's perks, especially in relation to business owners, make things easier for the cardholder? These could be travel benefits or small-business features like employee card limits or expense tracking.
- Annual fee — If there's an annual fee on the card, is it justified by earning potential and benefits?
For more about our methodology, read our guide to how we rate credit cards at Personal Finance Insider.
Editorial Note: Any opinions, analyses, reviews, or recommendations expressed in this article are the author’s alone, and have not been reviewed, approved, or otherwise endorsed by any card issuer. Read our editorial standards.
Please note: While the offers mentioned above are accurate at the time of publication, they're subject to change at any time and may have changed, or may no longer be available.
**Enrollment required.
***Terms, conditions, and exclusions apply. Refer to your Guide to Benefits for more details. Travel Accident Insurance is not guaranteed, it depends on the level of benefits you get at application.
For Capital One products listed on this page, some of the benefits may be provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply.
