Capital One Spark Cash Review

Feb 14, 2024 By Triston Martin

When it appeared that charge cards were the last dinosaurs in the credit card business, the new Capital One Spark 2% Cash Plus came. The card was transformed from a cashback credit card with the smallest annual cost to a 2% cashback credit card with an annual cost of $150. Small-scale business owners contemplating this card might consider the advantages of using a credit card instead of a credit card. It offers the ability to manage cash back of 2% for every purchase and 5% cashback on rentals and hotels that are booked with Capital One Travel which can provide some flexibility when you're required to make an expenditure that is more than usual at times (note that this isn't the same as having no credit limit or Capital One will determine how the amount of flexibility you'll receive depending on a mix of variables).

However, this Capital One Spark Cash Plus card is not the best choice for those seeking more time to pay off an expensive purchase. In reality, not only will you need to pay the bill in full by the end of every month, but you'll also be assessed the late fee of 2.99 percent of your remaining total balance, which means your card is deemed late until you have paid off the balance you have to pay. Be aware that you'll need to pay $7,500 per year for this plan, Spark Cash Plus, to break even on the annual $150 cost.

Rewards Rate

It's a great program. Spark Cash Plus lives up to Capital One cards' guiding idea of providing one of the most straightforward rewards programs. You'll earn unlimited, flat-rate cash on qualifying purchases with no spending limits or bonus categories; you can juggle your rewards will not expire over your card's lifetime. You'll also receive 5 percent in rewards on hotel rooms and rental cars that you book with Capital One Travel. Additionally, the ability to automatize the redemption process ensures that you don't have to control the cashback balance.

How Do You Earn

Your employees and your cards can earn 2% cashback on nearly all your business-related purchases. Additionally, you'll earn five percent back in cash when you reserve accommodation or rental with Capital One Travel. The only costs that Capital One counts as ineligible to earn rewards are items you exchange or cash equivalent transactions and the cost of your account. These include fees and interest from transactions such as the cash advance, balance transfer, and checks to access your account.

How Do You Redeem

A few issuers make reward redemption simple, such as Capital One. Businesses with busy schedules can set their cashback to redeem automatically when the balance is at a specific amount ($25, $50, $100, $200, or $1,500) or on a chosen date in the calendar. Even though the direct types of cashback, direct deposits to a bank account, are not included in a list of options for redemption, you can earn the cashback in one of the following ways:

  • Credit on a statement
  • A check
  • Credit for purchases prior to it
  • A gift card
  • Payments at checkout are made via and PayPal

The Main Benefits and Perks

The Spark Cash Plus is a charge card with no pre-set spending limits and is, therefore, a flexible card that will adapt to your requirements depending on your spending habits and your credit and payment background. Another important aspect of credit cards is that they have no annual percentage rates since the account is due in full each month.

If your company has a lot of operating costs, it offers a $200 annual cash bonus for spending more than $200,000 per year. This could more than offset the annual fee of $150 and adds extra opportunities to earn cash back rewards through the sign-up bonus and the 2% reward rate. Like the other Capital One credit cards, you'll be able to avoid charges for foreign transactions when you shop in foreign countries. In addition, you can get employees' cards for no extra cost, which will be deposited into accounts as a principal card holder.

No Foreign Transaction Fees

Contrary to most cash back credit cards Capital One Spark Cash for Business card doesn't have charges for foreign transactions. This is a plus if you take lots of travel abroad and when you buy inventory from abroad. Foreign transaction fees charged by credit cards usually range from 3%, which means they could quickly erase the amount of reward you get.

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