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

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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
  • Additional annual $200 cash bonus every year you spend $200,000 or more.
  • 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.

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Comments

  1. joshua katt says

    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

  2. joshua katt says

    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

  3. 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.

  4. joshua katt says

    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.

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