Capital One® Spark® Cash Select for Business Review 2019

The Capital One® Spark® Cash Select for Business is best for businesses with less than $19,000 in annual card expenses that want fixed-rate cash back rewards. This card pays 1.5% cash back on all spending. Plus, it offers 0% financing for the first nine months on purchases. Ongoing annual percentage rate (APR) starts at 14.74%.

The best fixed-rate cash-back business credit cards offer up to 2% cash back on all spending. Capital One® Spark® Cash Select for Business has a return rate that is half a percentage point lower than those credit cards. Unlike some cash back cards, this Capital One business credit card offers 0% APR on purchases for nine months. We rate this card 3.5 out of 5 stars.

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How We Evaluated the Capital One® Spark® Cash Select for Business

The Capital One® Spark® Cash Select for Business offers decent introductory rewards and fixed-rate ongoing rewards. However, we believe this card is average at best compared to other small business credit cards. For example, Chase Ink Business Cash^SM credit card offers up to 5% cash back and a larger introductory reward.

We considered the following criteria in our evaluation:

• Ongoing rewards: The rewards you’ll earn when you use Capital One® Spark® Cash Select for Business. This Capital One business credit card offers unlimited 1.5% cash back on all spending.
• Introductory rewards: The introductory offer you can earn by reaching a minimum spending requirement. Capital One® Spark® Cash Select for Business offers a one time $200 cash bonus after spending $3,000 on purchases within the first three months after account opening.
• Annual fee: How much it costs to own the card every year. Capital One® Spark® Cash Select for Business charges no annual fee.
• Additional benefits: Whether the card has additional card benefits and perks. Capital One® Spark® Cash Select for Business offers card perks, including extended warranty protection, purchase protection, rental car insurance, and emergency assistance services.
• Introductory APR: Whether the card has an introductory 0% APR period. Capital One® Spark® Cash Select for Business has an introductory 0% APR period on purchases for nine months.
• Ongoing APR: How much it will cost to finance purchases on your card. Capital One® Spark® Cash Select for Business has an ongoing APR between 14.74% and 22.74%.

When compared to some of the best small business credit cards, Capital One® Spark® Cash Select for Business falls short in a few categories. Specifically, if you need to transfer a balance, this Capital One business credit card isn’t the best card for you, as it offers no 0% introductory APR on balance transfers. Instead, consider a balance transfer business credit card. Those cards offer interest-free financing on balance transfers for up to 12 months.

How We Evaluate Cash Back Business Credit Cards

When grading fixed-rate cash back business credit cards like Capital One® Spark® Cash Select for Business, we weight ongoing rewards heaviest. We rate introductory rewards as slightly less important, but it’s still the second biggest factor. We also consider the annual fee, introductory and ongoing APRs, and additional features.

We graded Capital One® Spark® Cash Select for Business using the following methodology:

Based on our 5-star rating system where 20 points equals 1 star, the Capital One® Spark® Cash Select for Business would need to improve its introductory and ongoing rewards to earn 4 stars. In cases where cards receive perfect scores in most categories, we may award bonus points to boost the card’s rating.

This Capital One business credit card offers good, but not great, introductory and ongoing rewards. Other cash back business credit cards offer more enticing rewards programs. The Chase Ink Business Cash^SM credit card, for example, pays up to 5% cash back on office supply expenses and wireless telephone services.

Who the Capital One® Spark® Cash Select for Business Is Right For

The Capital One® Spark® Cash Select for Business is best for businesses that want cash back rewards and have annual credit card expenses less than $19,000. That is the threshold at which you’d benefit more with the Capital One® Spark® Cash for Business. That Capital One business card pays unlimited 2% cash back on all purchases. However, it has an annual fee of $95, which Capital One waives during the first year.

Alternatives to Capital One® Spark® Cash Select for Business

Compared to the Capital One® Spark® Cash Select for Business, other cash back business credit cards offer higher returns, larger introductory offers, and longer introductory 0% APR periods. The best alternatives to the Capital One® Spark® Cash Select for Business are also some of the best no annual fee credit cards.

Three alternatives to the Capital One® Spark® Cash Select for Business are the Chase Ink Business CashSM credit card, U.S. Bank Business Cash Rewards World Elite™ MasterCard®, and Bank of America® Business Advantage Cash Rewards Mastercard®.

Chase Ink Business Cash^SM Credit Card

The Chase Ink Business Cash^SM credit card is best for business owners who have big office-related expenses. We believe it’s one of the best business credit cards for startups, as it pays up to 5% cash back and offers a substantial introductory bonus. Additionally, you’ll receive interest-free financing for 12 months on purchases. If you’re looking for a no annual fee card, our Chase Ink Business Cash^SM review explains why this is right for you.

U.S. Bank Business Cash Rewards World Elite™ MasterCard®

This U.S Bank business credit card is best for business owners who need to finance purchases or balance transfers. Additionally, it offers bonus category rewards and pays up to 3% cash back in three spending categories. Its ongoing APR is about four percentage points lower compared to Capital One® Spark® Cash Select for Business. To learn more about this business credit card, check out our U.S. Bank Business Cash Rewards World Elite™ MasterCard® review.

Bank of America® Business Advantage Cash Rewards Mastercard®

Bank of America® Business Advantage Cash Rewards Mastercard® is best for businesses that have an existing relationship with Bank of America. We believe it’s one of the best 0% APR business credit cards, as it offers no interest on purchases for nine billing cycles. It also pays 3% cash back in a spending category of your choice. You can learn about this card’s value in our Bank of America® Business Advantage Cash Rewards Mastercard® review,

Capital One® Spark® Cash Select for Business Costs

The Capital One® Spark® Cash Select for Business charges no annual fee. Additionally, one of its major benefits is the introductory 0% APR period for nine months on purchases. There are other small business credit cards that offer longer 0% APR periods, including Chase Ink Business Cash^SM. That card has an introductory 0% APR period on purchases for 12 months.

Financing costs and fees on this Capital One business credit card include:

• Introductory APR: 0% on purchases for nine months
• Ongoing APR: 14.74% and 22.74%, which adjusts with the prime rate
• Annual fee: None
• Balance transfer fee: None
• Foreign transaction fee: None
• Cash advance fee: $10 or 3%, whichever is greater; cash advance APR is 24.74%
• Late payment fee: Up to $39
• Returned payment fee: None
• Penalty APR: 31.15%, which is applied if you make a late payment

If one of your primary concerns in a card is its introductory APR, there are better options. We recommend considering the American Express Blue Business® Plus credit card. That card offers an introductory 0% APR period for 12 months on both purchases and balance transfers. It also carries no annual fee (see rates & fees).

How to Avoid Paying Interest on the Capital One® Spark® Cash Select for Business

Capital One requires you to pay your entire balance within 25 days of the close of each billing cycle to avoid interest on the Capital One® Spark® Cash Select for Business. This window is longer when compared to other small business credit cards. For instance, the Chase Ink Business Cash^SM requires you to pay your balance within 20 days of the close of each billing cycle to avoid interest.

Capital One® Spark® Cash Select for Business Rewards

Capital One® Spark® Cash Select for Business pays a fixed rate of 1.5% cash back on all purchases. You’ll also earn a $200 bonus after spending $3,000 on purchases within the first three months after account opening. If you want to earn miles to redeem for travel, Capital One offers the Capital One® Spark® Miles Select for Business, which is essentially an identical card besides the rewards.

If you spend more than $19,000 annually, you’ll benefit more by using the Capital One® Spark® Cash for Business. Here’s a look at the rewards and annual fee breakdown:

• Capital One® Spark® Cash Select for Business: $19,000 annually x 1.5% cash back = $285 in rewards
• Capital One® Spark® Cash for Business: $19,000 annually x 2% cash back – $95 annual fee = $285 in rewards

Introductory Rewards

The Capital One® Spark® Cash Select for Business offers a one time $200 cash bonus after spending $3,000 on purchases within the first three months after account opening.

The introductory offer from Capital One® Spark® Cash Select for Business falls short of the best small business credit cards. Other credit cards that charge no annual fee offer a larger reward. For example, the Chase Ink Business Cash^SM credit card has no annual fee and offers a $500 bonus after spending $3,000 within the first three months.

Ongoing Rewards

Capital One® Spark® Cash Select for Business offers 1.5% cash back on all purchases.

Capital One® Spark® Cash Select for Business pays a fixed rate of 1.5% cash back, which is low when compared to other cash back business credit cards. Some of the best cash back business credit cards pay up to 5% cash back on select spending categories. If you don’t spend your money on various categories, consider choosing a card that offers top rewards for your specific expenses.

Rewards Restrictions

The Capital One® Spark® Cash Select for Business won’t give rewards for the following:

• Interest charges
• Cash advances
• Traveler’s checks
• Purchases or reloading of prepaid credit cards
• Purchases of gift cards
• Person-to-person payments
• Any cash equivalents

You will earn unlimited rewards that never expire by using this Capital One business credit card. If you or the issuer closes your account, you’ll lose any rewards that you haven’t redeemed. Reward restrictions on this card are similar to other small business credit cards.

How You Can Redeem Your Rewards

There are four primary ways to redeem your rewards:

• Statement credit or check: Receive your cash back upon request as a statement credit or a check by mail.
• Redeem for a purchase: Redeem your rewards for a recent transaction made on your business credit card.
• Redeem for gift cards: Redeem your rewards for gift cards at restaurants, retailers, or hotels. Your gift card will arrive within two to three weeks.
• Automatic redemption: Receive your rewards at a set time each calendar year or when you reach a threshold ($25, $50, $100, $200, $500 or $1,500).

There are other small business credit cards that offer more redemption options. For example, most American Express business credit cards let you redeem your rewards for charges, travel, gift cards, Amazon purchases, event tickets, and for some taxis in New York City.

Capital One® Spark® Cash Select for Business Additional Features

According to Capital One’s website, you’ll receive several additional card perks by using your Capital One® Spark® Cash Select for Business card. Based on factors only known to Capital One, you’ll either receive Visa® Signature Business Benefits or Visa® Business Benefits. However, this shouldn’t be a deciding factor when applying.

In this Capital One review, we address all Visa® Signature Business Benefits, which include travel accident insurance, lost luggage reimbursement, and a price protection plan in addition to all of the Visa® Business Benefits.

The benefits included in Visa® Business Benefits are:

• Purchase security
• Extended warranty protection
• Auto collision damage waiver
• Travel and emergency services

The benefits included in Visa® Signature Business Benefits are:

• Purchase security
• Extended warranty protection
• Travel accident insurance
• Lost luggage reimbursement
• Auto collision damage waiver
• Travel and emergency services
• Price protection plan

These additional card perks are generally similar to other credit card issuers. American Express, for example, offers unbeatable additional benefits that can be worth thousands of dollars every year. These perks are especially beneficial if you or your employees travel often.

Purchase Security

Your purchased items are protected against theft or damage for the first 90 days after purchase when you use your card. In Capital One’s benefits guide, it says the coverage is capped at $10,000 per incident and $50,000 per year. Other business credit cards offer longer coverage windows.

What’s Covered With the Capital One® Spark® Cash Select for Business Purchase Security

Capital One® Spark® Cash Select for Business purchase security covers items in case of theft or damage within 90 days of purchase. Capital One will replace, repair, or reimburse you the original purchase price of the item up to $10,000.

What the Capital One® Spark® Cash Select for Business Purchase Security Excludes

Purchase security does not cover the following types of purchases:

• Animals and living plants
• Antiques or collectible items
• Boats, aircraft, automobiles, and any other motorized vehicles and their motors, equipment, or accessories, including trailers
• Computer software
• Items purchased for resale
• Items that are lost
• Items under the care and control of a common carrier
• Jewelry and watches stored in your baggage
• Theft or damage resulting from abuse, fraud, or hostilities of any kind
• Theft or damage resulting from misdelivery or voluntary parting with the property
• Medical equipment
• Perishables or consumables

Capital One’s purchase security excludes similar items when compared to other small business credit cards.

Extended Warranty Protection

You’ll receive extended warranty protection on warranties of three years or less by using your card. Capital One doubles the length of the warranty for up to one additional year. According to the Capital One benefits guide, this coverage is limited to $10,000 per claim and $50,000 per year. Other small business credit cards offer similar coverage.

What’s Covered With the Capital One® Spark® Cash Select for Business Extended Warranty Protection

Capital One® Spark® Cash Select for Business extended warranty protection covers warranties of three years or less. Other cash back business credit cards may offer similar extended warranty protection. For example, the Chase Ink Business Cash^SM credit card will extend a warranty by an additional year on warranties of three years or less. That coverage is also capped at $10,000 per claim and $50,000 per year.

What the Capital One® Spark® Cash Select for Business Extended Warranty Protection Excludes

Extended warranty protection excludes the following purchases:

• Boats, automobiles, aircraft, and any other motorized vehicles and their motors, equipment, or accessories
• Any costs other than those specifically covered under the terms of the original manufacturer’s written United States. repair warranty, as supplied by the original manufacturer, or other eligible warranty
• Items purchased for resale
• Computer software
• Medical equipment
• Real estate and items which are intended to become part of real estate including
• Rented or leased items, or items purchased on an installment plan
• Used or pre-owned items

Small business credit cards that provide extended warranty protection generally exclude similar purchases.

Travel Accident Insurance

Travel accident insurance is only available through Visa® Signature Business Benefits. If you’re approved for Visa® Signature Business Benefits, you, your spouse, and unmarried dependent children will have coverage up to $250,000. Some business credit cards may offer higher coverage levels.

What’s Covered with the Capital One® Spark® Cash Select for Business Travel Accident Insurance

Travel accident insurance through Capital One covers accidental loss of life, limb, sight, speech or hearing while riding as a passenger in, entering or exiting any licensed common carrier. According to the Capital One benefits guide, coverage is capped at $250,000. Other business credit cards may offer coverage up to $500,000, such as the American Express Business Platinum Card®.

What the Capital One® Spark® Cash Select for Business Travel Accident Insurance Excludes

The travel accident insurance doesn’t cover loss resulting from:

• Emotional trauma, mental or physical illness, disease, pregnancy, childbirth or miscarriage, bacterial or viral infection, or bodily malfunctions
• Suicide, attempted suicide, or intentionally self-inflicted injuries
• Declared or undeclared war, but war does not include acts of terrorism
• Travel between the insured person’s residence and regular place of employment

Excluded items here are generally common across all small business credit cards that offer this protection.

Lost Baggage Reimbursement

Lost baggage reimbursement is only available through Visa® Signature Business Benefits. If you receive Visa® Signature Business Benefits, it says this protection covers your checked or carry-on baggage from theft or misdirection by the common carrier. The benefits guide also states that coverage is limited to $3,000 and $2,000 for New York residents.

What’s Covered With the Capital One® Spark® Cash Select for Business Lost Baggage Reimbursement

In Capital One’s benefits guide, it states that lost baggage reimbursement provides coverage up to $3,000―$2,000 for New York residents―for your check or carry-on luggage. Other cash back business credit cards offer similar insurance, including the Bank of America® Business Advantage Cash Rewards Mastercard®. However, Bank of America doesn’t publish coverage levels prior to application.

What the Capital One® Spark® Cash Select for Business Lost Baggage Reimbursement Excludes

The following items are not covered by lost baggage reimbursement:

• Automobiles, automobile accessories and/or equipment; motorcycles, motors, bicycles―except when checked with the common carrier―boats, or other vehicles or conveyances
• Contact lenses, eyeglasses, sunglasses, hearing aids, artificial teeth, dental bridges, and prosthetic limbs
• Money, securities, credit or debit cards, checks, and traveler’s checks
• Tickets, documents, keys, coins, deeds, bullion, stamps, perishables, consumables, perfume, cosmetics, rugs and carpets, animals, cameras, sporting equipment, and household furniture
• Property shipped as freight or shipped prior to trip departure date
• Items specifically identified or described in and insured under any other insurance policy
• Losses arising from confiscation or expropriation by any government or public authority or detention by customs or other officials
• Losses resulting from abuse, fraud, or hostilities of any kind
• Business Items, cellular telephones, or art objects

When compared to other business credit cards, this protection generally excludes the same items.

Auto Rental Collision Damage Waiver

You’ll receive an auto rental collision damage waiver if you use your card for a car rental. According to the Capital One’s benefits guide, this is primary coverage if the rental is used for business purposes. This means you won’t have to use your personal insurance or the car rental company’s insurance. The benefits guide also states you may be reimbursed up to the cash value of the car,

What’s Covered With the Capital One® Spark® Cash Select for Business Auto Rental Collision Damage Waiver

Capital One’s auto rental collision damage waiver protects you against theft or collision for rental agreements of 31 consecutive days or less. This coverage length is similar to what’s provided on other business credit cards. For example, both the Chase Ink Business Cash^SM and Chase Ink Business Preferred^SM offer coverage on rentals of 31 consecutive days or less.

What the Capital One® Spark® Cash Select for Business Auto Rental Collision Damage Waiver Excludes

The following auto rental collision damage waiver coverage limits apply:

• Expensive, exotic, and antique automobiles
• Certain vans
• Vehicles that have an open cargo bed
• Trucks, motorcycles, mopeds, and motorbikes
• Limousines and recreational vehicles
• Wear and tear, gradual deterioration, or mechanical breakdown
• Any violation of the rental agreement
• Loss or theft of personal belonging
• Confiscation by authorities
• Rental periods that exceed 31 consecutive days
• Leases or mini leases
• Theft or damage reported more than 45 days from the date of the incident

Excluded items here are common across small business credit cards that offer this insurance, such as Chase Ink business credit cards.

Travel and Emergency Assistance Services

You can call a travel and emergency assistance services hotline 24 hours a day. This service is also available to family members and employees. Although the number is free to call, you are responsible for the cost of any goods or services provided.

Services Capital One® Spark® Cash Select for Business Provides

This card offers the following travel and emergency services

• Record and deliver any urgent messages
• Transportation help home or a nearby medical facility
• Ticket replacement
• Emergency translation service
• Lost baggage help
• Pretrip assistance

This card offers the following medical and legal services

• Medical referral assistance
• Medical prescription assistance
• Referrals for English-speaking attorneys and U.S. embassies

There are other credit card issuers that offer similar services. For example, American Express business credit cards offer a global assist hotline for cardholders. This hotline is also free to use, but you’re responsible for any charges by third-party service providers.

Price Protection Plan

You’ll receive price protection plan when you use your card to make purchases. According to Capital One’s benefits guide, you can receive a refund for the price difference if you see a recently purchased item at a lower price point in another merchant’s printed advertisement within 60 days. Capital One’s benefits guide also states that this coverage is limited to $500 per items and $2,500 per account.

This protection plan is unique to Capital One business credit cards and only available through Visa® Signature Business Benefits. We’ve reviewed dozens of business credit cards and issuers, and we have not come across similar insurance. Some personal credit cards offer this type of protection.

Adding Capital One® Spark® Cash Select for Business Employee Cards

You can issue additional employee cards for free with the Capital One® Spark® Cash Select for Business. Most business credit cards offer free employee cards, even when the primary card carries an annual fee. Employee cards are best used to monitor and control employee spending while giving them access to company funds.

A corporate credit card is a good alternative option if your business has $4 million or more in annual revenue and spends $250,000 or more annually. Corporate credit cards are charge cards and are required to be paid off in full every month. These cards offer similar employee spending restrictions when compared to business credit cards but remove business owners’ personal liability.

What the Capital One® Spark® Cash Select for Business Is Missing

Capital One® Spark® Cash Select for Business only offers decent introductory and ongoing rewards. Other business credit cards offer stronger rewards and don’t always charge an annual fee. For example, the Chase Ink Business Cash^SM credit card pays up to 5% cash back and offers a $500 cash bonus after spending $3,000 within the first three months. Plus, that card charges no annual fee.

Capital One® Spark® Cash Select for Business Reviews

Online reviews for the Capital One® Spark® Cash Select for Business are mostly positive. Users love that they earn rewards on all purchases and enjoy the card’s additional features, including free employee cards. Some users complain about not receiving credit card limit increases, even after having the card for several years. If you need more buying power, consider a high limit business credit card.

How to Apply for the Capital One® Spark® Cash Select for Business

You can apply for the Capital One® Spark® Cash Select for Business online. To get a business credit card, you’ll be required to fill out an application containing your basic personal and business information, like your Social Security number and business tax ID number. If you don’t receive a decision immediately, Capital One will send details in an email or letter within seven to 10 business days. Once approved, you’ll receive your card within seven to 10 business days.

How to Login Into Your Capital One® Spark® Cash Select for Business Account

You can log into your Capital One account online by using your username and password. If you need assistance, you can call customer service through the phone number on the back of your Capital One® Spark® Cash Select for Business credit card.

Other Capital One Business Credit Cards

Capital One offers four other business credit cards, which are best for business owners who want fixed-rate cash back or miles. You should consider one of these cards if you spend $19,000 or more per year, want to earn miles instead of cash back, or want a larger introductory offer.

The other Capital One business credit cards are:

• Capital One® Spark® Cash for Business: Best for business owners who want to earn top fixed-rate cash back rewards. This card pays a higher return compared to the Capital One® Spark® Cash Select for Business, but it charges an annual fee.
• Capital One® Spark® Miles for Business: Best for businesses that want to earn strong fixed-rate miles that can be redeemed for travel. This card carries an annual fee, but it pays a higher return rate than other Capital One business credit cards with no annual fee.
• Capital One® Spark® Miles Select for Business: Best for businesses that want to pay no annual fee and earn miles to redeem for travel. This card is also designed for businesses that spend less than $19,000 annually.
• Capital One® Spark Classic for Business: Best for business owners who have personal credit scores below 670, but still want the opportunity to earn cash back rewards. This card carries no annual fee and is one of the business credit cards for fair credit.

For rates and fees on the American Express Blue Business® Plus, please click here.