Capital One® Spark® Cash Plus Review for 2022
Tricia has nearly two decades of experience in commercial and federal government lending. Her expertise is highlighted throughout small business loan content on Fit Small Business.
Nancy Fernandez is a Credit Card and Insurance Expert at Fit Small Business, specializing in business credit cards and business insurance.
This article is part of a larger series on Best Small Business Credit Cards.
The Capital One® Spark Cash Plus is an excellent credit card designed for businesses that can pay their balance in full every month. This pay-in-full card offers unlimited 2% cash back rewards on all business-related purchases. It doesn’t have a preset credit limit, which means your credit limit adapts to your needs based on your spending behavior, payment history, and credit profile.
To see how this card stacks up against others that we have reviewed on our site, simply click Add to Compare on the card below and select up to two additional cards for comparison.
Capital One® Spark® Cash Plus Card
BEST FOR:
Businesses that want purchasing power and can pay their balances in full every month
Intro APR
None
Regular APR
None. There's no APR because your balance is due in full every month. Otherwise, you'll be charged a 2.99% monthly late fee
Annual Fee
$150
Credit Needed
Excellent
- Earn unlimited 2% cash back for your business on every purchase, everywhere, no limits or category restrictions.
- Earn up to $1,000 in the first six months; $500 once you spend $5,000 in the first three months, and $500 once you spend $50,000 in the first six months.
- Earn an annual $200 cash bonus every year you spend $200,000 or more.
Pros
- No preset spending limit
- Up to $1,000 cash bonus
- Unlimited 2% cash back on all purchases
- Opportunity to earn annual cash bonus
Cons
- Requires an annual fee
- Need to pay in full every month
- Requires excellent credit
- $0 foreign transaction fee: No foreign transaction fees on purchases made outside of the United States
- $0 fraud liability: Advance emergency replacement for lost and stolen card plus cash advance
- Roadside assistance: Emergency services such as jump-starting, tire changing, and towing
Intro APR
None
Regular APR
None. There's no APR because your balance is due in full every month. Otherwise, you'll be charged a 2.99% monthly late fee
Annual Fee
$150
Credit Needed
Excellent
- Earn unlimited 2% cash back for your business on every purchase, everywhere, no limits or category restrictions.
- Earn up to $1,000 in the first six months; $500 once you spend $5,000 in the first three months, and $500 once you spend $50,000 in the first six months.
- Earn an annual $200 cash bonus every year you spend $200,000 or more.
Pros
- No preset spending limit
- Up to $1,000 cash bonus
- Unlimited 2% cash back on all purchases
- Opportunity to earn annual cash bonus
Cons
- Requires an annual fee
- Need to pay in full every month
- Requires excellent credit
- $0 foreign transaction fee: No foreign transaction fees on purchases made outside of the United States
- $0 fraud liability: Advance emergency replacement for lost and stolen card plus cash advance
- Roadside assistance: Emergency services such as jump-starting, tire changing, and towing
How We Evaluate Pay-in-full Business Credit Cards
When grading pay-in-full business credit cards like the Capital One® Spark® Cash Plus, we take into consideration the annual fee first. Then we look at the card’s rewards, additional features, penalties, and any other fees.
Grading Criteria | Card Score | Highest Possible Score |
|---|---|---|
Annual Fee | 20 | 30 |
Ongoing Rewards | 18 | 20 |
Introductory Rewards | 20 | 30 |
Penalties | 10 | 15 |
Other Fees | 10 | 10 |
Additional Features | 5 | 5 |
Total Score | 83 | 100 |
Who the Capital One® Spark® Cash Plus Is Best For
- Business owners who can pay their balance in full every month: The Capital One® Spark® Cash Plus card requires full monthly payments; otherwise, you’ll be charged penalties and your account will be considered past due.
- Business owners who need a flexible credit limit: With the Capital One® Spark® Cash Plus card, you won’t have a preset spend limit because your credit limit adapts to your needs and spending and payment behavior.
Capital One® Spark Cash Plus Fees
- Introductory annual percentage rate (APR): None
- Ongoing APR: Not applicable—balance due in full every month (2.99% monthly late fee)
- Annual fee: $150
- Balance transfer fee: Not applicable
- Foreign transaction fee: None
- Cash advance fee: Either $10 or 3% of the amount of each cash advance, whichever is greater
- Late payment: 2.99% of the unpaid portion of your minimum payment
Capital One® Spark Cash Plus Rewards
- Get 2% cash back on all business-related purchases without limits or category restrictions.
- Welcome offer: Earn up to $1,000 in the first six months after opening an account, $500 after you spend $5,000 in the first three months, and $500 after you spend $50,000 in the first six months.
- You can earn a $200 cash bonus each year after spending a minimum of $200,000 in net purchases by your rewards membership anniversary. This will be applied within two billing cycles following your rewards membership anniversary date.
You can redeem your cash back upon request in the form of a statement credit, a check, credits for previous purchases, or gift cards. You can also set up an automatic redemption at a set time each calendar year or when a specific threshold has been reached ($25, $50, $100, $200, $500, or $1,500).
How to Make Payments on the Capital One® Spark Cash Plus
- Mobile app: Use the Capital One Mobile app to make a payment.
- Phone: Call the number on the back of your credit card.
- Online: Log in to your Capital One account and select “Make a payment,” or set up autopay to make a minimum payment, pay your last statement balance, or pay a fixed monthly payment of your choice automatically.
- By United States mail: Send a check by US mail using this address:
Capital One
Attn: Payment Processing
PO Box 71083
Charlotte, NC 28772-1083
- Overnight*: When sending overnight, use this address:
Capital One
Attn: Payment Processing
6125 Lakeview Rd.
Suite 800
Charlotte, NC 28269
*Note: USPS Priority mail usually doesn’t get delivered straight to a payment processing center and may not get processed the next day. To ensure overnight delivery and processing, make sure to use an express mail service like FedEx, UPS, or DHL, among others.
Capital One® Spark Cash Plus Additional Features
Extended Warranty Protection
Capital One will extend the original manufacturer’s warranty up to one additional year for warranties of three years or less, covering up to $10,000 per claim and $50,000 per cardholder. Items such as computer software, medical equipment, real estate, preowned items, motorized vehicles, leased items, and items purchased for resale aren’t covered by this protection.
Travel & Roadside Assistance
This Capital One credit card offers a wide range of travel-related emergency services, including ticket replacement, referrals to legal or medical assistance, roadside jump-starting, tire changing, and towing.
Card Lock & Security Alerts
Capital One will send an email or text message alert if the bank detects potentially fraudulent activity, suspicious transactions, or unexpected charges on your account. You can also lock your card or an employee’s card if it has been misplaced, lost, or stolen.
Auto Rental Collision Damage Waiver
Capital One provides an auto rental collision damage waiver in case of damage due to collision or theft. Rentals of 31 consecutive days or less are eligible. The coverage is primary if the car rental is for business purposes, which means you won’t need to use your personal insurance or accept the rental company’s insurance. Capital One may reimburse you up to the cash value of the car.
Virtual Card Numbers & $0 Fraud Liability
With Capital One, you can make safer payments online without exposing your actual card number to merchants, as it provides you with virtual card numbers. Moreover, if your Capital One® Spark Cash Plus card is lost or stolen, you can get an emergency replacement and a cash advance.
Pros & Cons of the Capital One® Spark Cash® Plus
| PROS | CONS |
|---|---|
| No preset spending limit: With Capital One® Spark® Cash Plus, your credit limit will adjust based on your credit, usage, and payment history. This is a great feature for those who need a flexible credit limit for business use. | Requires an annual fee: The Capital One® Spark® Cash Plus charges a $150 annual fee, which adds to your annual cost. |
| Up to $1,000 cash bonus: Among all the Capital One business credit cards, the Capital One® Spark® Cash Plus offers the biggest cash bonus, which is up to $1,000, after you meet the spending requirements. | Need to pay in full every month: You need to pay your balance in full every month or you’ll be charged a monthly penalty of 2.99%, and your account will be considered past due. |
| Unlimited 2% cash back on all purchases: You can earn unlimited 2% cash back on all business-related purchases using your Capital One® Spark® Cash Plus card. The cash back reward is fixed, so you don’t need to keep track of spending categories. | Requires excellent credit: This credit card is only available to those with excellent credit, with a minimum credit score of 750. If your credit is below excellent, consider other credit card options such as the Capital One® Spark® Cash Select Good Credit or Capital One® Spark® Classic |
| Opportunity to earn annual cash bonus: You can earn an annual $200 cash bonus when you spend $200,000 or more. | |
Capital One® Spark® Cash Plus Alternatives
U.S. Bank Business Platinum
The U.S. Bank Business Platinum card offers an introductory APR offer of 0% for both purchases and balance transfers for the first 20 billing cycles. In addition, this card offers one of the lowest minimum regular APRs, at 12.74%. This is ideal for businesses that need to make large purchases such as equipment, computers, or office furniture. We chose this card as our overall best 0% APR business credit card and best business credit card balance transfer offer.
U.S. Bank Business Platinum Card
Fit Small Business's ratings are calculated by industry experts of our editorial team. Our grading rubric considers the type of credit card (such as cash back or travel), and the card's rates, fees, rewards, and additional features like insurance.
BEST FOR:
Extended 0% APR period on purchases and balance transfers
Intro APR
0% for first 20 billing cycles
Regular APR
12.74% - 21.74% (Variable)
Annual Fee
$0
Credit Needed
Good/Excellent
- Limited time offer: 0% Intro APR on purchases and balance transfers for 20 billing cycles. After that, a variable APR currently 12.74% to 21.74%.
- U.S. Bank Business Platinum Card
- Pay over time by splitting eligible purchases of $100+ into equal monthly payments with U.S. Bank ExtendPay ™Plan.
- Expense management tool VISA Spend Clarity is free to access and sync expenses, set employee card controls, generate reports, and more.
- Great Offer from U.S. Bank, a 2022 World's Most Ethical Company® - Ethisphere Institute, February 2022
- Terms and conditions apply
Pros
- Offers a long 0% APR introductory period
- 0% APR applies to both purchases and balance transfers
- No annual fee
Cons
- No introductory and ongoing rewards
- Balance transfer fee is charged even during the introductory period
- Excellent/good credit score needed to qualify
- Extended warranty protection: U.S. Bank will double an original manufacturer’s warranty up to an additional one year for warranties of three years or less. Coverage is limited to $10,000 per item.
- Purchase protection: U.S. Bank offers purchase protection for items that are damaged or stolen within 90 days of purchase. The coverage is limited to $500 per claim and up to $50,000 per cardholder, per year.
Intro APR
0% for first 20 billing cycles
Regular APR
12.74% - 21.74% (Variable)
Annual Fee
$0
Credit Needed
Good/Excellent
- Limited time offer: 0% Intro APR on purchases and balance transfers for 20 billing cycles. After that, a variable APR currently 12.74% to 21.74%.
- U.S. Bank Business Platinum Card
- Pay over time by splitting eligible purchases of $100+ into equal monthly payments with U.S. Bank ExtendPay ™Plan.
- Expense management tool VISA Spend Clarity is free to access and sync expenses, set employee card controls, generate reports, and more.
- Great Offer from U.S. Bank, a 2022 World's Most Ethical Company® - Ethisphere Institute, February 2022
- Terms and conditions apply
Pros
- Offers a long 0% APR introductory period
- 0% APR applies to both purchases and balance transfers
- No annual fee
Cons
- No introductory and ongoing rewards
- Balance transfer fee is charged even during the introductory period
- Excellent/good credit score needed to qualify
- Extended warranty protection: U.S. Bank will double an original manufacturer’s warranty up to an additional one year for warranties of three years or less. Coverage is limited to $10,000 per item.
- Purchase protection: U.S. Bank offers purchase protection for items that are damaged or stolen within 90 days of purchase. The coverage is limited to $500 per claim and up to $50,000 per cardholder, per year.
Capital One® Spark® Cash Select Excellent Credit
The Capital One® Spark® Cash Select Excellent Credit is another alternative card to consider, as it offers fixed-rate cash back of 1.5% on every purchase, doesn’t charge annual fees, and has a $500 signup bonus after spending $4,500 on purchases within the first three months after opening an account. However, it doesn’t have an introductory 0% APR and requires a credit score of at least 720 to qualify.
Capital One® Spark® Cash Select Excellent Credit
BEST FOR:
Businesses with excellent credit that want a lower ongoing APR
Intro APR
N/A
Regular APR
13.24%, 16.24% or 19.24%
Annual Fee
None
Credit Needed
Excellent
- Earn unlimited 1.5% cash back for your business on every purchase, everywhere, no limits or category restrictions.
- Earn a one-time $500 cash bonus once you spend $4,500 on purchases within the first three months from account opening.
- Enjoy a $0 annual fee in addition to the big rewards and cash bonus you can earn.
Pros
- No annual fee
- $500 sign-up bonus when you spend $4,500 within three months
- Protection against lost or stolen cards
Cons
- No 0% intro APR
- Requires excellent credit
- May do a hard pull of your credit at application
- $0 foreign transaction fee: No foreign transaction fees on purchases made outside of the United States
- $0 fraud liability: Advance emergency replacement for lost and stolen card plus cash advance
- Roadside assistance: Emergency services such as jump-starting, tire changing, and towing
Intro APR
N/A
Regular APR
13.24%, 16.24% or 19.24%
Annual Fee
None
Credit Needed
Excellent
- Earn unlimited 1.5% cash back for your business on every purchase, everywhere, no limits or category restrictions.
- Earn a one-time $500 cash bonus once you spend $4,500 on purchases within the first three months from account opening.
- Enjoy a $0 annual fee in addition to the big rewards and cash bonus you can earn.
Pros
- No annual fee
- $500 sign-up bonus when you spend $4,500 within three months
- Protection against lost or stolen cards
Cons
- No 0% intro APR
- Requires excellent credit
- May do a hard pull of your credit at application
- $0 foreign transaction fee: No foreign transaction fees on purchases made outside of the United States
- $0 fraud liability: Advance emergency replacement for lost and stolen card plus cash advance
- Roadside assistance: Emergency services such as jump-starting, tire changing, and towing
American Express Blue Business CashTM
The American Express Blue Business CashTM card offers a 0% introductory APR for the first 12 months after account opening and a low starting regular APR of 13.24%. This card also gives you 2% cash back on all eligible purchases up to $50,000 per calendar year, then 1% cash back after that. However, it should be noted that this card charges a foreign transaction fee of 2.7% in US dollars.
American Express Blue Business Cash™ Card
Fit Small Business's ratings are calculated by industry experts of our editorial team. Our grading rubric considers the type of credit card (such as cash back or travel), and the card's rates, fees, rewards, and additional features like insurance.
Intro APR
0% on purchases
Regular APR
13.99% - 21.99% Variable
Annual Fee
No annual fee
Credit Needed
Good, Excellent
- Earn a $250 statement credit after you make $3,000 in purchases on your Card in your first 3 months.
- Earn 2% cash back on all eligible purchases on up to $50,000 per calendar year, then 1% cash back earned is automatically credited to your statement.
- From workflow to inventory to floor plans, your business is constantly changing. That’s why you’ve got the power to spend beyond your credit limit with Expanded Buying Power.
- Just remember, the amount you can spend above your credit limit is not unlimited. It adjusts with your use of the Card, your payment history, credit record, financial resources known to American Express and other factors.
- 0.0% intro APR on purchases for 12 months from the date of account opening, then a variable rate, 13.99% - 21.99%, based on your creditworthiness and other factors as determined at the time of account opening.
- No Annual Fee
- Terms Apply
Pros
- 0% intro APR
- Welcome bonus
- Fixed rate rewards
- No annual fee
Cons
- Cash advance isn’t allowed
- Charges foreign transaction fees
- 2% cash back is capped at $50,000 in annual spending
- Expanded buying power: Enjoy flexible buying power, when your business needs it. Expanded buying power gives you the freedom to spend beyond your credit limit and help get business done. While the amount you can spend above your credit limit isn't unlimited, it adjusts with your use of the card, your payment history, credit record, financial resources known to us and other factors.
- Car rental loss and damage insurance: As a Card Member, You can be covered for damage to or theft of a rental vehicle in a covered territory when you use your eligible card to reserve and pay for the entire rental and decline the collision damage waiver at the rental company counter.
Intro APR
0% on purchases
Regular APR
13.99% - 21.99% Variable
Annual Fee
No annual fee
Credit Needed
Good, Excellent
- Earn a $250 statement credit after you make $3,000 in purchases on your Card in your first 3 months.
- Earn 2% cash back on all eligible purchases on up to $50,000 per calendar year, then 1% cash back earned is automatically credited to your statement.
- From workflow to inventory to floor plans, your business is constantly changing. That’s why you’ve got the power to spend beyond your credit limit with Expanded Buying Power.
- Just remember, the amount you can spend above your credit limit is not unlimited. It adjusts with your use of the Card, your payment history, credit record, financial resources known to American Express and other factors.
- 0.0% intro APR on purchases for 12 months from the date of account opening, then a variable rate, 13.99% - 21.99%, based on your creditworthiness and other factors as determined at the time of account opening.
- No Annual Fee
- Terms Apply
Pros
- 0% intro APR
- Welcome bonus
- Fixed rate rewards
- No annual fee
Cons
- Cash advance isn’t allowed
- Charges foreign transaction fees
- 2% cash back is capped at $50,000 in annual spending
- Expanded buying power: Enjoy flexible buying power, when your business needs it. Expanded buying power gives you the freedom to spend beyond your credit limit and help get business done. While the amount you can spend above your credit limit isn't unlimited, it adjusts with your use of the card, your payment history, credit record, financial resources known to us and other factors.
- Car rental loss and damage insurance: As a Card Member, You can be covered for damage to or theft of a rental vehicle in a covered territory when you use your eligible card to reserve and pay for the entire rental and decline the collision damage waiver at the rental company counter.
Bottom Line
The Capital One® Spark Cash Plus card is a great option for businesses that can pay their balances in full every month and for those that need a flexible credit card. If you can’t commit to paying your full balance monthly, it’s best to find another card that offers a low ongoing APR. Visit our Credit Card Marketplace to find one that’s a better fit for you.
