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.
Can you check your link JP? I want to make sure its the right card you get the credit. Great deal for me if I get approved. Thanks
Can you check your link JP? I want to make sure its the right card and you get the referral credit. Great deal for me if I get approved. Thanks
Oops, thanks, fixed the link above! Good luck on your approval. Capital One has been pretty aggressive in growing their business recently, with this and the Venture X.
We need a post on manufactured spend. Lol. 50k!? I can probably pull it off but will require prepaying a lot of stuff.
Given that you are essentially getting 8% back on $50,000 of spend, there are many options that would cost some fees but still make it net worth it. You can pay your business taxes to the IRS on a credit card, and it costs only a 1.87% transaction fee.
Thanks, got it! Surprised since I was turned down a few months ago from CO regarding another card that was reviewed here. Nothing changed. Turns out this one is much better. I bet the annual fee helped the approval.
Regarding MS, its hard to find any without fees eating into the bonus. Costco, BJ’s and Visa/MC gift cards at Staples when they go “no fee” on sale are my favorites. But it takes a lot of work to find, get, track and liquidate. Need another PFSBuyers club opportunity to pop up.
Nice. I’m on the fence on this offer as it would be somewhat of a stretch for me as well. Would have liked to see this when I was more into buying and reselling items on eBay.