Capital One
Spark Cash Plus
Key Features
| Annual Fee | $150.00 |
| Regular APR | Your balance is due in full every month which means there is no APR. |
| Other Fees | If you don’t pay off the balance in full, you will be charged a late fee of 2.99% on your outstanding statement balance and your account will be considered past due until we receive your payment in full. |
About this card
The Spark Cash Plus card is a mixed bag. Its strengths lie in its generous cash back rewards program, offering a flat 2% on all purchases and 5% on travel booked through Capital One. The sign-up bonus is potentially very large, but requires very high spending. The absence of foreign transaction fees is also a plus. However, the card's weaknesses are significant. The $150 annual fee, while potentially refundable, requires a very high spending threshold of $150,000 per year, making it unsuitable for many smaller businesses. The requirement to pay the balance in full each month means that there is no APR, however a 2.99% penalty is applied to late payments. Overall, the card is best suited for businesses with high spending volume and a consistent ability to pay their balance in full each month. Given these factors, the overall rating is 2.8. It's a fair card for a specific audience, but not a universally strong option.
Pros & Cons
What's great
- Generous sign-up bonus
- High rewards rate
- No foreign transaction fees
- Cashback on purchases
- Free employee cards
Things to consider
- Annual fee
- Requires excellent credit
- High regular APR
- No intro APR period
What this card offers
Sign-up bonuses
- Earn a $2,000 cash bonus when you spend $30,000 in the first 3 months.
- Earn an additional $2,000 bonus for every $500,000 spent in the first year. You can truly earn unlimited cash bonuses your first year.
Rewards
- Earn unlimited 2% cash back for your business on every purchase, everywhere, no limits or category restrictions.
- Earn unlimited 5% cash back on hotels and rental cars booked through our travel booking site.
Other features
- Pay-in-full card Your balance must always be paid off in full every month.
- Flexible spend capacity This card comes with no preset spend limit that adapts to your needs based on spending behavior, payment history and credit profile.
- Annual fee refund Get your $150 annual fee refunded every year you spend at least $150,000.
- Automatic payments Set up AutoPay so you don’t have to worry about signing into your account every month.
- $0 fraud liability If your card is lost or stolen, you can get an emergency replacement and a cash advance.
- Year-end summaries Get an itemized report of your spending to simplify budgeting and tax time.
- Account managers Assign an account manager to make purchases and payments, review transactions and resolve any problems.
- Purchase records Quickly and securely download your purchase records into multiple formats including Quicken, QuickBooks and Excel.
- Virtual card numbers Make safer payments online without exposing your actual card number with merchants.
- Choose your due date Pick your own monthly due date. Your business has the control to pay when you want.
- Transaction details Stay on top of your purchases. You can find merchant information like an address, logo, phone number and map, when available.
- Recurring transactions View a list of merchants that charge your business card monthly like subscriptions and bills.
- Free employee cards Track employee spending while earning all the rewards from their purchases.
- Spend limits Set customized spending limits for employee cards and see transactions as soon as they post.
- No foreign transaction fees Pay zero foreign transaction fees on purchases made outside of the United States.
- Roadside assistance Our business cards offer services to help you during auto-related emergencies, such as jump-starting, tire changing and towing.
- Capital One Business Travel Save time and money with complimentary access to an all-in-one business travel management solution.
- Account access Manage your account online or use the mobile app to get account activity alerts, see payment options, download past account statements and more.
- Security alerts Get notified via text, email and phone if Capital One notices potential suspicious transactions on your account.
- Fraud & security alerts Receive an email or text message alert if we detect a potential mistake or suspicious charge on your account.
- Card lock Lock your card or an employee’s if it has been misplaced, lost or stolen.
- Extended warranty Get free additional warranty and protection on eligible items that you purchase with your card.
- Customer support Our Capital One Business representatives are specially trained to work with business owners and are available to answer any questions you may have.
Additional Notes
Credit Level: EXCELLENT. No preset spending limit does not mean unlimited spending. The amount you can spend can change over time based on your spending behavior, payment history, credit profile and other factors.