Capital One Spark Cash Plus review: Flat-rate rewards for high-spending businesses

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The Capital One Spark Cash Plus card offers businesses a simple yet powerful cash back program. With unlimited 2% cash back on all purchases, this card eliminates the need for complicated category tracking. However, as a charge card, it requires full monthly payments, which may not suit all business cash flows.

How the Capital One Spark Cash Plus works

The Capital One Spark Cash Plus card is a charge card, meaning it has no preset spending limit but requires full payment each month. Your available "credit" will adapt based on your spending behavior, payment history, and credit profile.

You'll earn a flat 2% cash back on all spending and 5% cash back on hotels and rental cars booked through Capital One Travel. The card’s simplicity is its biggest advantage, allowing you to earn rewards without navigating confusing bonus categories.

Capital One Spark Cash Plus rewards

Earning rewards

The Capital One Spark Cash Plus card earns a straightforward 2% cash back on all purchases. You don't have to figure out spending categories or when to use which credit card because the rewards earning and redemption are simple. The exception is hotels and rental cars booked through Capital One Travel, which earn 5% cash back.

This flat-rate structure is particularly beneficial for businesses with varied expenses that don’t fit neatly into typical bonus categories.

Redeeming rewards

Redeeming your cash back is simple. You can:

• Receive as a statement credit
• Request a check
• Redeem for gift cards
• Apply it to a previous purchase

There’s also an option to convert cash back to Capital One miles if you have another eligible Capital One card, which can potentially increase the value of your credit card rewards if you’re savvy with travel redemptions.

Capital One Spark Cash Plus benefits

The Capital One Spark Cash Plus card comes with great benefits for business owners in addition to its earning power.

Welcome bonus

You can earn a $2,000 cash bonus when you spend $30,000 in the first three months and an additional $2,000 bonus for every $500,000 spent in the first year.

While substantial, these bonuses require significant spending, making them most attainable for businesses with high monthly expenses.

Additional perks

• Annual fee refund: You can get your $150 annual fee refunded every year you spend at least $150,000.
• $0 fraud liability: If your card is lost or stolen, you can get an emergency replacement card and a cash advance.
• Account managers: You can assign an account manager to make purchases and payments, review transactions, and resolve problems.
• No foreign transaction fees: You won't incur foreign transaction fees when using the card internationally.
• Virtual card numbers: You can make safer online payments with a virtual card number without exposing your actual card number to merchants.
• Software integration: You can download your purchase records into multiple software programs, such as Quicken®, QuickBooks®, and Excel®.

Capital One Spark Cash Plus drawbacks

While the Spark Cash Plus offers many benefits, there are some drawbacks to consider.

Charge card structure

This card doesn’t have a preset spending limit like a regular credit card. While this offers flexibility in purchasing, remember to pay in full monthly. Any unpaid balance incurs a 2.99% late payment fee, which can add up quickly. This could be a challenge for small businesses with inconsistent cash flow.

Limited rewards

Unlike some business cards that offer points or miles, this card only offers cash back. If you prefer to use your rewards for travel, you’re limited unless you have another Capital One card that earns points and miles. This results in more limited redemption options compared to other business credit cards.

How the Capital One Spark Cash Plus compares

The Capital One Spark Cash Plus card is a good choice for businesses with higher expenses, such as payroll, inventory purchases, or rent payments. Let’s see how it stacks up to some alternatives:

The Capital One Spark Cash Plus vs. Ink Business Cash® Credit Card

Both cards offer cash back rewards and welcome bonuses but differ in structure. While the Spark Cash Plus offers a flat rate on all purchases, the Ink Business Cash® earns 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable, and phone services each account anniversary year, 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year, and 1% on all other purchases.

The Spark Cash Plus has a higher welcome bonus potential, but a higher spending requirement to earn it. The Ink Business Cash might be better for businesses with expenses aligned with its bonus categories, while the Spark Cash Plus is ideal for those who prefer flat-rate rewards.

The Capital One Spark Cash Plus vs. The American Express Blue Business Cash™ Card

Both cards offer cash back, but with a few key differences.

The Capital One Spark Cash Plus card's 2% cash back rate is unlimited, whereas the American Express Blue Business Cash™ Card earns 2% cash back on all eligible purchases on up to $50,000 per calendar year, then 1%.

The Amex Blue Business Cash has an intro APR offer, while the Spark Cash Plus requires full payment monthly. The Blue Business Cash could be a better option if you have a large purchase to finance.

Who should consider the Capital One Spark Cash Plus?

This card is ideal for high-spending businesses with consistent cash flow that want to avoid the complicated world of credit card points and miles. You spend money on the card and get cash back — it's simple but effective.

Businesses with inconsistent cash flow or occasionally needing to carry a balance should consider other options. Similarly, companies that spend heavily in specific categories like travel or office supplies might find more value in cards with bonus category rewards.

How we rated this card

Every credit card review we publish has gone through a rigorous editorial process to ensure accuracy and objectivity.

We rate all credit cards on a 10-point system, with 10 being the highest possible score and 1 being the lowest possible score. We assess each card across several key factors, weighted based on what our research shows matters most to readers like you. Learn more about our methodology here.

The bottom line

The Capital One Spark Cash Plus offers a straightforward rewards program for businesses with high expenses and stable cash flow. Its unlimited 2% cash back and lack of a preset spending limit can be powerful tools for the right company. However, the annual fee, charge card structure, and limited travel perks mean it won’t be the best fit for everyone.