Capital One Spark 1.5% Cash Review: Unlimited Cash Back Business Card With No Annual Fee
Review
Updated
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The Capital One Spark 1.5% Cash Select is unavailable on Motley Fool Money. All information was collected independently and not reviewed for accuracy or provided by the credit card issuer. Some items may be out of date.
Having excellent credit can have a lot of rewards, including access to great business credit cards. Take the Capital One Spark 1.5% Cash Select, for example. Not only do cardholders get unlimited cash back on purchases, but you'll pay no annual fee or foreign transaction fees. Plus, earn a big sign-up bonus. See all the pros and cons in our full Capital One Spark 1.5% Cash Select review below.
Excellent (740-850)
Intro APR
Purchases: N/A
Balance Transfers: N/A
Regular APR
18.24% - 24.24%, variable
Rewards
1.5% cash back
Annual Fee
$0
Welcome Offer Earn a one-time $500 cash bonus once you spend $4,500 on purchases within the first 3 months from account opening
$500
This card is good for business owners who desire no annual fees and no foreign transaction fees.
This credit card is a good fit for: Business owners who want to earn unlimited flat-rate rewards with no annual fee or foreign transaction fees.
The Capital One Spark 1.5% Cash Select comes with a variety of perks.
New cardholders can earn a cash back rewards welcome bonus. The bonus is worth $500 and requires you to spend $4,500 on your card within the first three months of opening your account. This is a really competitive welcome bonus, although not the best sign-up bonus you can find. On the plus side, business cards with higher bonuses often have much higher spending requirements. It's not unusual to find business card sign-up bonuses with requirements of $7,500 or $10,000. The $4,500 requirement should be much easier for smaller businesses to meet.
The best business credit cards have some kind of rewards, and the Capital One Spark 1.5% Cash Select is no exception. You'll earn cash back rewards on your purchases at a flat rate of 1.5%. There is no limit on how much cash back you can earn, and there are no categories that you need to activate or track.
Cardholders can also earn up to 5% cash back on travel booked through Capital One Travel. While it's not great if you prefer to book directly, it's a good option for folks who like discount fare sites, such as Expedia. Capital One offers a price match guarantee, too.
Your cash back rewards won't expire so long as your account remains open and in good standing. Cash back can be redeemed for a statement credit or as a check. There's no minimum rewards amount required to redeem.
READ MORE: Best Cash Back Credit Cards
Busy business owners can set up automatic cash back redemption. This lets you choose to automatically redeem your cash back at a given time interval or for a specific rewards amount. For example, you could set it to automatically redeem your cash back every quarter. Alternatively, you could set your account to redeem your rewards every time you get $25 in cash back.
You won't need to pay an annual fee with your Capital One Spark 1.5% Cash Select. This is a nice perk that helps the card compete with others that may offer more rewards. None of your cash back will be cancelled out by the cost of an annual fee.
The $0 annual fee also applies to employee credit cards. So you can assign credit cards to your employees without extra fees. You can also set custom credit limits for each card, as well as monitor spending by tracking transactions as soon as they post to the account.
One great thing about Capital One credit cards is that they don't charge foreign transaction fees, and this includes the Capital One Spark 1.5% Cash Select.
Some card issuers charge up to 3% on foreign transactions, which can include:
With no foreign transaction fees, you don't need to worry about using your card while traveling abroad. You also won't need to worry about extra card fees when you make purchases with foreign suppliers that route through their home banks.
Learn more: Best No Foreign Transaction Fee Credit Cards
If you want more cash back: The Ink Business Cash® Credit Card (see rates and fees) is also a no annual fee cash back card, but instead of a lower flat rate on everything, you also earn up to 5% cash back in useful bonus categories like internet and phone services. There is an annual cap on bonus rewards (up to $25,000 in purchases each year) but it should be more than high enough for many small businesses.
If you want a better flat rate: The The American Express Blue Business Cash™ Card card offers 2% cash back on the first $50,000 in purchases each year. It also charges a No annual fee annual fee and has an intro APR offer.
If you want to earn travel rewards: The Ink Business Preferred® Credit Card (see rates and fees) earns 3X points per $1 on travel, as well other useful business categories. Transfer points to airline or hotel partners for free travel. Plus, the big welcome bonus helps offset the annual fee.
READ MORE: Best Travel Rewards Credit Cards
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| Ink Business Cash® Credit Card | The American Express Blue Business Cash™ Card | Ink Business Preferred® Credit Card |
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Rating image, 4.50 out of 5 stars.
4.50/5
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Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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= Excellent
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Rating image, 3.50 out of 5 stars.
3.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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= Excellent
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= Fair = Poor
Rating image, 3.50 out of 5 stars.
3.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor
Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
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Apply Now for The American Express Blue Business Cash™ Card
On American Express's Secure Website. |
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Credit Rating Requirement:
Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.
Recommended Credit Score required for this offer is: Good/Excellent (670-850)
Good/Excellent (670-850) |
Credit Rating Requirement:
Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.
Recommended Credit Score required for this offer is: Good/Excellent (670-850)
Good/Excellent (670-850) |
Credit Rating Requirement:
Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.
Recommended Credit Score required for this offer is: Good/Excellent (670-850)
Good/Excellent (670-850) |
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Welcome Offer: Earn $350 when you spend $3,000 on purchases in the first three months and an additional $400 when you spend $6,000 on purchases in the first six months after account opening. Earn up to $750 bonus cash back |
Welcome Offer: Earn a $250 statement credit after you make $3,000 in purchases on your Card in your first 3 months. $250 |
Welcome Offer: Earn 90,000 bonus points after you spend $8,000 on purchases in the first 3 months from account opening. Earn 90,000 bonus points |
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Rewards Program: Earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year. Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year. Earn 1% cash back on all other card purchases with no limit to the amount you can earn. Earn 5% cash back in select business categories |
Rewards Program: 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. 1% - 2% cash back |
Rewards Program: Earn 3 points per $1 on the first $150,000 spent in combined purchases on travel, shipping purchases, Internet, cable and phone services, advertising purchases made with social media sites and search engines each account anniversary year. Earn 1 point per $1 on all other purchases-with no limit to the amount you can earn. Earn 3 points per $1 in select business categories |
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Intro APR: 0% Intro APR on Purchases Purchases: 0% Intro APR on Purchases, 12 months Balance Transfers: N/A |
Intro APR: Purchases: 0% on purchases, 12 months from date of account opening Balance Transfers: N/A |
Intro APR: N/A Purchases: N/A Balance Transfers: N/A |
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Regular APR: 17.49% - 25.49% Variable |
Regular APR: 17.49% - 27.49% Variable |
Regular APR: 20.24% - 26.24% Variable |
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Annual Fee: N/A $0 |
Annual Fee: No annual fee |
Annual Fee: N/A $95 |
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Highlights:
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Apply Now for The American Express Blue Business Cash™ Card
On American Express's Secure Website. |
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Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. - Please visit americanexpress.com/benefitsguide for more details. - Extended warranty, purchase protection, and car rental loss & damage underwritten by AMEX Assurance Company. - Card Members are responsible for the costs charged by third-party service providers.
Here are a few downsides of this card to consider.
The Capital One Spark 1.5% Cash Select may come with a welcome bonus, but the welcome offer doesn't extend to an intro 0% APR deal for new purchases or for balance transfers. This means you won't get any kind of break on your interest rate when you open your account. Although intro 0% APR offers are more common in consumer cards than business cards, more business cards are offering them, so it's a noticeable lack.
As a positive, the Capital One Spark 1.5% Cash Select card doesn't charge a balance transfer fee. However, without a 0% intro APR balance transfer offer, transferring your balance is unlikely to save you much on interest unless your current card has a particularly high APR.
One thing that the Capital One Spark 1.5% Cash Select has in common with most other business cards is that you'll need to agree to a personal guarantee when you apply. This little clause in the fine print states that you -- as the business owner -- and your business are equally liable for the line of credit. If, for whatever reason, your business can't pay the balance on the credit card, you'll be expected to do so yourself. And if you default on that card, your personal credit will face the consequences. You'll also be the one contacted by whoever is tasked with collecting the debt, be it the bank or an outside company.
There are technically two versions of the Capital One Spark 1.5% Cash Select. While the versions share the same name and purchase rewards, there are some key differences, including the welcome offer, APR range, and credit score requirements. Applying for the right version can have a big impact on your cardholder experience.
The version we've reviewed here requires excellent credit and comes with a welcome bonus. The other version of the card only requires good credit and has an intro 0% APR offer instead of a welcome bonus. You'll only receive one of these offers, not both. So, if you get the card with the sign-up bonus, you won't get an intro APR deal -- and vice versa.
When you apply for the Capital One Spark 1.5% Cash Select, it's important to pay close attention to the application page. If you want the card with the welcome bonus, make sure the application page advertises the bonus. The card with the APR offer and no bonus advertises the APR offer instead.
See more: Best Credit Cards
The credit score you'll need for a Capital One Spark 1.5% Cash Select depends on which card offer you want:
Now, you could potentially get either card version with a lower credit score than is listed here. Capital One will look at your entire credit profile, not just your scores, when making a decision. Your business's credit history, revenue, and time in existence will also have an impact on your application.
If you apply for the excellent-credit version of the card and don't meet the qualifications, Capital One may consider you for other cards. However, you'll only undergo one hard credit pull. You have the option to accept or decline a different card offer.
If you want an unlimited cash back card with a decent flat rate, the Capital One Spark 1.5% Cash Select is worth considering. Having no annual or foreign transaction fees, plus the cash back rewards, makes this a good option for a one-card wallet. And the competitive welcome bonus doesn't hurt.
The downside of the Capital One Spark 1.5% Cash Select is the dual card offers, which can be confusing. You'll need to pay careful attention while applying to make sure you don't wind up with the wrong card offer. You also can't get both welcome offers, so you'll need to choose between the welcome bonus and APR offer. If you'd rather look for a card with both, our list of credit card reviews is a good place to start.
Keep reading: Best Rewards Credit Cards
At Motley Fool Money, we rate credit cards on a five-star scale (1 = poor, 5 = best). Our rating criteria includes rewards rates, welcome bonuses, fees, and perks like travel credits and 0% intro APR offers to evaluate our ratings.
We combine these factors with an evaluation of brand reputation and customer satisfaction to ensure you're getting the best card recommendations. Learn more about how Motley Fool Money rates credit cards.
According to Capital One, the minimum credit limit for this card is $2,000. Credit limits as high as $12,000 have been self-reported by cardholders.
This card is considered to be moderately easy to get if you have at least good credit. Capital One will check your personal credit when you apply.
There are two versions of this card:
The cash back purchase rewards are the same for both versions. The other offers and bonuses vary.
There's no published rule against having multiple cards. Some user reports confirm you can have two Capital One business cards. You will likely be denied a new Capital One business credit card if you have five or more open credit card accounts with Capital One.
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