That’s double the original card’s last bonus of $500 after spending $4,500 in your first 3 months. You can earn a welcome bonus of up to $1,000 – $500 if you spend $5,000 in your first three months and another $500 if you meet a total spending threshold of $50,000 in your first six months.
ADVANCED BUSINESS CARD MAKER 4.0 PLUS
One major improvement the Spark Cash Plus card makes over the legacy Spark Cash card is in its sign-up bonus. This lineup of redemption options offers solid flexibility, so redeeming cash back with the Spark Cash Plus should be about as simple as earning it. You can even set cash back to be redeemed automatically once per year on a specified date or when you reach $25, $50, $200, $500 or $1,500 in rewards. There’s also no minimum threshold required to redeem your cash back – you can claim your rewards anytime, in any amount. You can even transfer your rewards to another Capital One account (such as to the Capital One Venture Rewards Credit Card at a rate of $1 cash back to 100 Capital One miles) if you’d rather redeem for travel at a possibly higher value. Redeeming rewardsĬapital One offers a great mix of cash back redemption options for Spark Cash Plus cardholders, including choices for a statement credit, check, gift card or payment through or PayPal. If your business spends heavily in a particular category, such as office supplies or telecommunications, you may also want to consider opting for a card that earns elevated rewards on those purchases – either instead of or in combination with the Spark Cash Plus card. Ignoring sign-up bonuses and cardholder perks, a no annual fee credit card with a 1.5% cash back rate will be more lucrative and less risky than the Spark Cash Plus if you charge less than $30,000 per year.
However, you may be better off with a no annual fee card if you don’t plan to put that much spending on a single card, even if it carries a lower rewards rate. For example, compare the card with the Capital One Spark Cash Select - $500 Cash Bonus – which earns just 1.5% cash back but charges no annual fee – and you’ll find that the extra half-percent of cash back on the Spark Cash Plus more than makes up for its annual fee given a $48,000 estimated annual spend. Based on that spending assumption, you’ll end the year with around $810 in net earnings when you subtract the card’s annual fee.ĭepending on your spending, the Spark Cash Plus card’s 2% flat rate could even make it more valuable than some no annual fee business cards. We estimate the average small-business owner spends around $48,000 per year. To get a sense of how much you stand to earn with the Spark Cash Plus card, simply estimate your annual spending, calculate 2% back and subtract the $150 annual fee. That said, it’s worth doing the math to make sure the Spark Cash Plus card’s higher rewards rate on general purchases justifies its $150 annual fee. This makes the Spark Cash Plus a solid choice both for small-business owners who want to keep things simple with cash back on all their eligible spending and for those who want to fill a gap in their rewards strategy with boosted cash back on spending outside their other cards’ bonus categories.
This is one of the highest flat rewards rates you’ll find on a business rewards card considering most cards offer just 1.5% back on all purchases or 1% back on general purchases and 2% to 5% back in specific spending categories, like dining or travel.
The Spark Cash Plus card retains the streamlined rewards structure of the legacy Spark Cash card: You’ll earn unlimited 2% cash back on all qualifying purchases with no need to track spending or enroll in bonus categories. See related: How do business credit cards work? Earning rewards
ADVANCED BUSINESS CARD MAKER 4.0 FULL
As a charge card, the Spark Cash Plus requires you to pay off your balance in full each billing cycle and carries no ongoing APR or 0% introductory APR offers, making it of little use if you need to free up cash flow or chip away at business expenses over time. The new Capital One Spark Cash Plus – a revamped version of the Capital One Spark Cash for Business – has hit the ground running, offering the same generous flat cash back rate with terrific new perks, including a boosted sign-up bonus, no preset spending limit and an enticing annual bonus geared toward big spenders.Įven with a $150 annual fee, the card should hold fantastic value for the average small-business owner and easily stands as one of the best business cards on the market if you prefer the simplicity of flat-rate cash back.īut if you’re looking for payment flexibility, the Spark Cash Plus will disappoint.
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