There’s a time and a place for choosing a business credit card with an annual fee. However, if you’re just getting your business off the ground and still figuring out your finances, keeping your overhead low is likely your bigger priority.
That’s where the Capital One Spark Cash Select can make a lot of sense. It earns an unlimited 1.5% cash back on every purchase without adding another annual expense, since it has no annual fee (see rates and fees). Card rating*: ⭐⭐⭐
*Card rating is based on the opinion of TPG’s editors and is not influenced by the card issuer.
Capital One Spark Cash Select: The basics
One thing I’ve learned from reviewing business credit cards is that more isn’t always better. Sometimes a straightforward card with no annual fee is exactly what a business needs — especially if you’re trying to keep costs low while still earning rewards.
If you want to earn your cash back without paying an annual fee, the Spark Cash Select is a sensible option for your business . Just keep in mind that its simplicity can also be its biggest drawback, and some businesses may find its rewards and benefits just a little too basic.
TPG recommends applicants have a credit score of 740 or higher to increase their chances of approval.
Let’s dive deeper into what this card can offer you and your business.
Capital One Spark Cash Select pros and cons
| Pros | Cons |
|---|---|
|
|
Capital One Spark Cash Select benefits
The Spark Cash Select doesn’t offer many premium perks, but the benefits it does include complement its straightforward, no-annual-fee approach.
Overall, the Spark Cash Select’s perks are considerably light compared to what other top business credit cards have to offer.
Business management tools
The Spark Cash Select includes several features designed to make running your business a little easier. You can add employee cards at no additional cost (see rates and fees) and receive year-end spending summaries that can help simplify bookkeeping and tax season.
No foreign transaction fees
A standout benefit of the Spark Cash Select is that it doesn’t charge foreign transaction fees (see rates and fees). If your business occasionally takes you overseas, you can use the card without paying extra on purchases made outside the U.S.
Travel and purchase protections
The Spark Cash Select includes a couple of basic protections that can come in handy from time to time. Eligible purchases receive an extended warranty, which can add additional time to the original manufacturer’s warranty on eligible items when you pay with your card. Terms apply.
You’ll also have access to roadside assistance if you run into trouble on the road. This pay-per-use dispatch service can arrange help with services like towing, fuel delivery and more, though you’ll pay a pre-negotiated fee for any service you use.
These aren’t industry-leading protections, but they provide a little extra peace of mind without increasing the card’s annual cost. (see rates and fees)
Related: How to pick a strategy for your small-business credit cards
How to earn and use your rewards
One of the best things about the Spark Cash Select is its simple earning structure. If you don’t want to keep track of bonus categories or adjust your spending habits to maximize rewards, this card makes earning cash back almost effortless.
Earning rewards
The Spark Cash Select earns 5% cash back on hotels and rental cars booked through Capital One’s travel booking site and an unlimited 1.5% cash back on all other purchases.
I especially like this earning structure for businesses with expenses that don’t fit neatly into common bonus categories. Instead of worrying about whether a purchase qualifies for extra rewards, you’ll earn the same flat rate on everything you buy.
That said, businesses with high spending in bonus categories like advertising, shipping or office supplies may be able to earn more with a different business credit card.
Related: Why you should get a fixed-rate rewards credit card
Redeeming rewards
Just like earning rewards, redeeming your Spark Cash Select rewards is simple and straightforward. You can redeem your cash-back rewards for any amount, and the rewards won’t expire as long as your account is open.
Related: How to redeem cash-back rewards from your credit card
Where the Capital One Spark Cash Select falls short
The biggest drawback of the Spark Cash Select is that its simplicity can become limiting as your business grows. While an unlimited 1.5% cash back on everyday purchases is easy to understand, it’s not among the most competitive flat-rate cash-back cards.
If your business spends heavily or has significant expenses in bonus categories, you may earn substantially more with another card — even one that charges an annual fee.
The card’s benefits are also fairly modest. The lack of foreign transaction fees and practical business features like free employee cards are convenient, but you won’t find premium travel perks, statement credits or robust travel protections here (see rates and fees).
For many small businesses, that won’t matter. But if you’re looking for a card you’ll grow into, there are stronger long-term options.
Capital One Spark Cash Select vs. Capital One Spark Cash
The Spark Cash Select and Capital One Spark Cash are very similar cards. Both earn unlimited cash back, offer no foreign transaction fees and include useful business features like free employee cards (see rates and fees for the Spark Cash Select) and (see rates and fees for the Spark Cash).
The biggest difference is that the Spark Cash charges an annual fee but earns a higher flat-rate cash-back rate on every purchase (see rates and fees).
I’d choose the Spark Cash Select if your priority is keeping business expenses low while still earning straightforward cash back. It’s an especially good fit for newer businesses or anyone who isn’t sure they’ll earn enough rewards to justify paying an annual fee.
I’d choose the Spark Cash if your business has significant monthly spending. The higher earning rate can quickly outweigh the annual fee, making it a better long-term value for many established businesses.
Is the Capital One Spark Cash Select worth it?
The Spark Cash Select delivers exactly what it promises. It won’t earn the most rewards or come with luxury benefits, but it keeps costs low while providing a reliable return on every purchase. For many small businesses, that’s more valuable than chasing a higher earning rate that may never offset an annual fee.
Related: How to apply for a Capital One business credit card
When to apply for the Capital One Spark Cash Select
Currently, new cardholders earn a one-time $750 cash bonus after spending $6,000 on purchases within the first three months of opening an account with this card.
I believe this is a compelling time to apply if you’ve already been considering the card. A $750 welcome bonus is generous for a no-annual-fee business card, and because there’s no annual fee to offset, you can put the full value of that bonus right back into your business (see rates and fees).
Related: The best time to apply for these popular Capital One credit cards based on offer history
Other cards to consider if you don’t want the Capital One Spark Cash Select
If you want to earn a higher return on your business expenses or have more options for redeeming your rewards, one of the following cards will likely be a better fit.
For additional options, see our full list of the best no-annual-fee business cards and the best business cash-back cards.
Bottom line
If you want a business card that earns cash-back rewards at a flat rate and doesn’t have an annual fee, the Spark Cash Select checks the box (see rates and fees).
But if you have significant business expenses, you’ll want to opt for a card with higher earning potential and more substantial benefits.
Learn more: Capital One Spark Cash Select
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.
