Capital One® Spark® Cash Plus Review for 2023
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.
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.
If you wish to compare one card over another, select a maximum of three cards on this page and click Add to compare to view the details in a side-by-side comparison.
Capital One® Spark® Cash Plus 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:
Businesses that want purchasing power and can pay their balances in full every month
Intro APR
None, as all charges that will be made on this account are due and payable in full after receiving your periodic statement.
Regular APR
None, as all charges that will be made on this account are due and payable in full after receiving your periodic statement.
Annual Fee
$150
Credit Needed
Excellent
- 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.
- Get 2% cash back on all business-related purchases without limits or category restrictions.
- Unlimited 5% cash back on hotels and rental cars booked through Capital One Travel.
- You can earn a $200 cash bonus each year after spending a minimum of $200,000 in net purchases by your rewards membership anniversary.
Pros
- Does not have preset spending limits
- With introductory bonus
- Offers unlimited 2% cash back on all purchases
Cons
- Charges annual fee
- Requires you to pay in full each month
- Requires excellent credit to qualify
- Payment flexibility: Pick your preferred monthly due date to control when to pay your credit card bill.
- $0 fraud liability: You can get an emergency replacement and cash advance if your card is lost or stolen.
- Extended warranty: Get free additional warranty and protection on selected items purchased with your card
- Roadside assistance: Capital One offers services to help you during auto-related emergencies, such as jump-starting, tire changing, and towing).
- Free employee cards and spend limits: Track employee spending while earning all rewards from their purchases and set customized spending limits for each card.
Intro APR
None, as all charges that will be made on this account are due and payable in full after receiving your periodic statement.
Regular APR
None, as all charges that will be made on this account are due and payable in full after receiving your periodic statement.
Annual Fee
$150
Credit Needed
Excellent
- 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.
- Get 2% cash back on all business-related purchases without limits or category restrictions.
- Unlimited 5% cash back on hotels and rental cars booked through Capital One Travel.
- You can earn a $200 cash bonus each year after spending a minimum of $200,000 in net purchases by your rewards membership anniversary.
Pros
- Does not have preset spending limits
- With introductory bonus
- Offers unlimited 2% cash back on all purchases
Cons
- Charges annual fee
- Requires you to pay in full each month
- Requires excellent credit to qualify
- Payment flexibility: Pick your preferred monthly due date to control when to pay your credit card bill.
- $0 fraud liability: You can get an emergency replacement and cash advance if your card is lost or stolen.
- Extended warranty: Get free additional warranty and protection on selected items purchased with your card
- Roadside assistance: Capital One offers services to help you during auto-related emergencies, such as jump-starting, tire changing, and towing).
- Free employee cards and spend limits: Track employee spending while earning all rewards from their purchases and set customized spending limits for each card.
When grading pay-in-full business credit cards like the Capital One® Spark® Cash Plus, we consider the annual fee first. Then we look at the card’s rewards, additional features, penalties, and other fees.
Grading Criteria | Card Score | Highest Possible Score |
|---|---|---|
Annual Fee | 15 | 30 |
Ongoing Rewards | 20 | 20 |
Introductory Rewards | 20 | 20 |
Penalties | 10 | 15 |
Other Fees | 10 | 10 |
Additional Features | 5 | 5 |
Total Score | 80 | 100 |
Who the Capital One® Spark® Cash Plus Is Best For
- Those who can pay their balance in full every month: Capital One® Spark® Cash Plus requires full monthly payments; otherwise, you’ll be charged penalties, and your account will be considered past due.
- Those who need a flexible credit limit: With the Capital One® Spark® Cash Plus, you won’t have a preset spending limit because your credit limit adapts to your needs and spending and payment behavior.
See our recommended alternatives below if this card isn’t the best fit for your business.
Capital One® Spark® Cash Plus Fees
- Introductory and ongoing annual percentage rate (APR): None, as all charges made on this account are due and payable in full after receiving your periodic statement.
- Annual fee: $150
- Balance transfer fee: Not applicable
- Foreign transaction fee: None
- Cash advance fee: Either $3 or 3% of the amount of each cash advance, whichever is greater
- Late payment fee: 2.99% of the outstanding statement balance
How To Make Payments
- Capital One Mobile: Use the app to ensure you pay your balances in full each month.
- Phone: Call (800) 227-4825 or the number on the back of your credit card.
- Online: Log in to your Capital One account and select “Make a payment.”
- Nearest Capital One bank: Visit the nearest Capital One branch.
- Mail: Send a check by United States 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., Ste. 800
Charlotte, NC 28269
*Note: US Postal Service 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, use an express mail service like FedEx, UPS, or DHL, among others.
Capital One® Spark® Cash Plus Rewards
- 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.
- 2% cash back on all business-related purchases without limits or category restrictions.
- Unlimited 5% cash back on hotels and rental cars booked through Capital One Travel.
- $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.
Points are yours for the life of the account and will not expire so long as your account is active. You can redeem your cash back upon request through 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).
To give you a better idea of how your rewards work, see below a sample computation of how much you can earn based on annual spending of $240,000 ($20,000 per month).
Value at First Year of Card Ownership | Value at Succeeding Years of Card Ownership | |
|---|---|---|
Annual rewards earned | $4,800 | |
Welcome offer | $1,000 (after meeting the prerequisites) | None |
Annual cash bonus | $200 (cash bonus after meeting the minimum annual spending of $200,000) | |
Annual fee | ($150) | |
Total value | $5,850 | $4,850 |
Capital One® Spark® Cash Plus Features
Managing Accounts
- Purchase records: Can quickly and securely download your records in multiple ways, such as via Quicken, QuickBooks, and Excel.
- Year-end summaries: Get an itemized report of your spending to help simplify budgeting and tax time.
- Payment flexibility: Pick your preferred monthly due date to control when to pay your credit card bill.
- Free employee cards and spend limits: Track employee spending while earning all rewards from their purchases and set customized spending limits for each card.
Travel
- Roadside assistance: Capital One offers services to help you during auto-related emergencies, such as jump-starting, tire changing, and towing).
- Capital One Travel: Get the best prices on thousands of trip options, and pay flexibly with your rewards, card, or both.
Service and Protection
- Fraud and security alerts: Get an email, text, or call if Capital One detects potential suspicious transactions or charges made on your account.
- $0 fraud liability: You can get an emergency replacement and cash advance if your card is lost or stolen.
- Extended warranty: Get free additional warranty and protection on selected items purchased with your card
- Card lock: Lock your card or an employee’s if it has been misplaced, lost, or stolen.
Capital One® Spark® Cash Plus Alternatives
Capital One® Spark® Cash Select Good Credit
Capital One® Spark® Cash Select Good Credit
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:
Businesses with good credit that want a 0% introductory APR and fixed 1.5% cash back rewards
Intro APR
0%
Regular APR
20.74%, 25.74%, or 28.74% variable
Annual Fee
$0
Credit Needed
Good
- Unlimited 5% cash back on hotels and rental cars booked through Capital One Travel
- Unlimited 1.5% fixed-rate cash back on all purchases with no limits or category restrictions
Pros
- No annual, balance transfer, and foreign transaction fees
- With intro 0% APR on purchases
- Free employee cards
Cons
- No intro 0% APR on balance transfers
- No sign-up bonus for their new cardholders
- With high cash advance and penalty APRs
- Zero fraud liability: If your card is lost or stolen, you can get an emergency replacement and a cash advance
- Roadside assistance: Capital One offers services to help you during auto-related emergencies, such as jump-starting, tire changing, and towing
- Free employee cards: You can track employee spending while earning all the rewards from their purchases by issuing free employee cards. In addition, you can set customized spending limits for employee cards and see transactions as soon as they post
- Purchase records: You can quickly and securely download your purchase records in different formats, such as Quicken®, QuickBooks®, and Excel®
Intro APR
0%
Regular APR
20.74%, 25.74%, or 28.74% variable
Annual Fee
$0
Credit Needed
Good
- Unlimited 5% cash back on hotels and rental cars booked through Capital One Travel
- Unlimited 1.5% fixed-rate cash back on all purchases with no limits or category restrictions
Pros
- No annual, balance transfer, and foreign transaction fees
- With intro 0% APR on purchases
- Free employee cards
Cons
- No intro 0% APR on balance transfers
- No sign-up bonus for their new cardholders
- With high cash advance and penalty APRs
- Zero fraud liability: If your card is lost or stolen, you can get an emergency replacement and a cash advance
- Roadside assistance: Capital One offers services to help you during auto-related emergencies, such as jump-starting, tire changing, and towing
- Free employee cards: You can track employee spending while earning all the rewards from their purchases by issuing free employee cards. In addition, you can set customized spending limits for employee cards and see transactions as soon as they post
- Purchase records: You can quickly and securely download your purchase records in different formats, such as Quicken®, QuickBooks®, and Excel®
- Is a great alternative if you want a Capital One® card with a 0% introductory APR on purchases (for the first 12 months)
- Lets you earn unlimited 1.5% fixed-rate cash back on all purchases, with no limits or category restrictions
- Does not charge annual, balance transfer, and foreign transaction fees
- Is in our roundups of the:
American Express Blue Business CashTM
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.
BEST FOR:
Those who want better cash back rewards
Intro APR
0% on purchases
Regular APR
18.24% - 26.24% 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 us and other factors.
- 0.0% intro APR on purchases for 12 months from the date of account opening, then a variable rate, 18.24% - 26.24%, 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
18.24% - 26.24% 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 us and other factors.
- 0.0% intro APR on purchases for 12 months from the date of account opening, then a variable rate, 18.24% - 26.24%, 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.
- Is a viable option for those who may exceed their credit limit and want a straightforward cash back rewards system
- Offers expanded buying power, which allows you to spend over your credit limit; note that the amount you can spend depends on your card usage, payment history, credit score, and financial resources
- Lets you earn 2% cash back on all eligible purchases of up to $50,000 per calendar year, then 1% after that
- Has a 0% introductory APR on purchases for the first 12 months
- Is one of our:
Bank of America® Business Advantage Customized Cash Rewards
Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit 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:
Those wanting to earn 3% cash back in a spending category of your choice
Intro APR
0%
9 billing cycles
9 billing cycles
Regular APR
18.24% - 28.24% Variable APR on purchases
Annual Fee
$0.00
Credit Needed
Excellent
- Get a $300 online statement credit after you make at least $3,000 in purchases in the first 90 days of your account opening.
- Earn 3% cash back in the category of your choice: gas stations (default), office supply stores, travel, TV/telecom & wireless, computer services or business consulting services, 2% cash back on dining purchases and 1% cash back on all other purchases.
- You'll earn 3% and 2% cash back on the first $50,000 in combined choice category/dining purchases each calendar year, 1% thereafter.
- You can earn up to 75% more cash back on every purchase, if you have a business checking account with Bank of America and qualify for our highest Preferred Rewards for Business tier. That means you could earn up to 5.25% cash back in your selected choice category and up to 3.5% cash back on dining purchases on the first $50,000 in those combined purchases each calendar year, and up to an unlimited 1.75% cash back on all other purchases.
- No annual fee
- Choose how to redeem your cash rewards-as a deposit into your Bank of America® checking or savings account, as a card statement credit or as a check mailed to you. Cash rewards don’t expire.
- To change your choice category for future purchases, you must go to the Mobile Banking app or Business Advantage 360, our small business online banking. You can change it once each calendar month, or make no change and it stays the same.
- 0% Introductory APR on purchases for your first 9 billing cycles. After the intro APR offer ends, a Variable APR that's currently 18.24% to 28.24% will apply.
- Contactless Cards - The security of a chip card, with the convenience of a tap.
- This offer may not be available if you leave this page or visit our website. You can take advantage of this offer when you apply now.
Pros
- Offers flexible redemption options
- Doesn’t charge annual fees
- With sign-up bonus
Cons
- Premium cash back rewards are capped on a selected spending category
- Charges foreign transaction fees
- Short introductory APR period
- Access to a business credit score: Bank of America lets you view and monitor your Dun & Bradstreet business credit score for free through Business Advantage 360.
- Zero liability protection: Stay protected against unauthorized transactions. Bank of America offers additional protections that cover certain purchases against loss, damage, theft, or fire and provides extended warranty coverage.
- Fraud monitoring: Bank of America will block potential fraud if it detects abnormal patterns in your transactions. It’ll also notify you if it suspects any fraudulent activity.
Intro APR
0%
9 billing cycles
9 billing cycles
Regular APR
18.24% - 28.24% Variable APR on purchases
Annual Fee
$0.00
Credit Needed
Excellent
- Get a $300 online statement credit after you make at least $3,000 in purchases in the first 90 days of your account opening.
- Earn 3% cash back in the category of your choice: gas stations (default), office supply stores, travel, TV/telecom & wireless, computer services or business consulting services, 2% cash back on dining purchases and 1% cash back on all other purchases.
- You'll earn 3% and 2% cash back on the first $50,000 in combined choice category/dining purchases each calendar year, 1% thereafter.
- You can earn up to 75% more cash back on every purchase, if you have a business checking account with Bank of America and qualify for our highest Preferred Rewards for Business tier. That means you could earn up to 5.25% cash back in your selected choice category and up to 3.5% cash back on dining purchases on the first $50,000 in those combined purchases each calendar year, and up to an unlimited 1.75% cash back on all other purchases.
- No annual fee
- Choose how to redeem your cash rewards-as a deposit into your Bank of America® checking or savings account, as a card statement credit or as a check mailed to you. Cash rewards don’t expire.
- To change your choice category for future purchases, you must go to the Mobile Banking app or Business Advantage 360, our small business online banking. You can change it once each calendar month, or make no change and it stays the same.
- 0% Introductory APR on purchases for your first 9 billing cycles. After the intro APR offer ends, a Variable APR that's currently 18.24% to 28.24% will apply.
- Contactless Cards - The security of a chip card, with the convenience of a tap.
- This offer may not be available if you leave this page or visit our website. You can take advantage of this offer when you apply now.
Pros
- Offers flexible redemption options
- Doesn’t charge annual fees
- With sign-up bonus
Cons
- Premium cash back rewards are capped on a selected spending category
- Charges foreign transaction fees
- Short introductory APR period
- Access to a business credit score: Bank of America lets you view and monitor your Dun & Bradstreet business credit score for free through Business Advantage 360.
- Zero liability protection: Stay protected against unauthorized transactions. Bank of America offers additional protections that cover certain purchases against loss, damage, theft, or fire and provides extended warranty coverage.
- Fraud monitoring: Bank of America will block potential fraud if it detects abnormal patterns in your transactions. It’ll also notify you if it suspects any fraudulent activity.
- Is an excellent choice if you want to maximize bonus rewards as it gives you the option to choose the spending category where you can earn 3% cash back
- Offers a 0% introductory APR on purchases for the first nine billing cycles
- Does not charge annual fees
- Is on our lists of the:
Bottom Line
Capital One® Spark® Cash Plus is a great option for businesses that can pay their balances in full every month and those that need a flexible credit card. Not only does it offer a welcome bonus of $500 after spending $5,000 within the first three months and another $500 after spending $50,000 within the first six months, but it also lets you earn 2% cash back on all business-related purchases without limits or category restrictions.
