Capital One Spark Cash Plus Business Card: Up to $1,000 Cash Bonus

The Capital One Spark Cash Plus Card is a rewards business charge card offering a big early spend bonus offer in addition to ongoing 2% cash back on all purchases (or better). Instead of a standard credit card where you can carry a balance and pay interest, this is a charge card where the balance is due in full every month. Here are the highlights:

• Up to $1,000 cash bonus. $500 once you spend $5,000 in the first 3 months, and $500 once you spend $50,000 in the first 6 months of account opening.
• Unlimited 2% cash back on every purchase, everywhere-with no limits or category restrictions
• Earn an annual $200 cash bonus every year you spend $200,000 or more – that’s enough to cover your annual fee and then some.
• Earn unlimited 5% cash back on hotels and rental cars booked through Capital One Travel.
• Comes with no preset spending limit, so it can adapt to your needs based on your spending behavior, payment history and credit profile.
• Add employee cards for free, and earn unlimited 2% cash back from their purchases
• $150 annual fee.

Consider that if you exactly meet both of the spending requirements above ($5,000 within first 3 months and $50,000 within first 6 months), you will end up with the $1,000 cash bonus plus $1,000 from 2% cash back = $2,000 cash total. That’s effectively 4% back on $50,000 of business card spending!

This card does have a $150 annual fee, which makes it best suited for businesses with significant spending needs. You get an additional $200 cash bonus every year you spend $200,000 or more. That may seem like a lot, but many businesses make a lot of purchases for raw materials and/or inventory. If you pay estimated taxes each quarter, you can also pay the IRS via credit card with a 1.87% fee and still come out ahead.

Compare against the Capital One Spark Miles For Business which offers 2X miles and Global Entry/TSA PreCheck credit. If you also hold the Spark Miles, Capital One Venture, or the Capital One Venture X rewards cards, you can convert your cash back rewards into their “miles”, which are then transferrable to various airline miles programs including British Airways Avios. With the right companion card, $2,000 in cash rewards could be converted to 200,000 miles.

Bottom line. The Capital One Spark Cash Plus Card is a rewards business card where you pay in full each month. If you have significant business expenses, this card is offering a big early spend bonus offer in addition to ongoing 2% cash back on all purchases (or better).

Also see: Top 10 Best Small Business Credit Card Bonus Offers.