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Do you want a flat-rate rewards business credit card? The Capital One Spark Business credit card lineup is one of the most popular options as you can earn up to 2 miles per $1 spent on every purchase, everywhere. While other business credit cards like Chase business credit cards might offer more points, you might not benefit from the extra points if you don’t make enough of those purchases.
Capital One Spark Business Credit Card Options
So, what is the best Capital One Spark Business credit card for your business spending? The five Spark Business credit card options include:
- Capital One® Spark® Cash for Business: Unlimited 2% cash back on every purchase, every day
- Capital One® Spark® Miles for Business: Unlimited 2X miles per $1 on every purchase, every day
- Capital One® Spark® Cash Select for Business: Unlimited 1.5% cash back on every purchase, every day
- Capital One® Spark® Miles Select for Business: Unlimited 1.5X miles per $1 on every purchase, every day
- Capital One® Spark® Classic for Business: Build your business credit and earn unlimited 1% cash back on every purchase, every day
With five different Spark business credit cards to choose from, it might be confusing on which is the best Capital One business card. Note that two offers below each have bonuses worth $500 or 50,000 miles, pretty high reward earning opportunities.
- $500 Cash Offer with the Capital One® Spark® Cash for Business
- 50,000 Miles Offer with the Capital One® Spark® Miles for Business
- No Annual Fee with the Capital One® Spark® Miles Select for Business
Capital One Spark Cash Back or Miles Rewards?
Do you want to earn cash back statement credits or rewards miles that can help you save money on future travel? Your points are worth $0.01 cents (1,000 points=$10) with either redemption option, so it comes down to your personal preference – cash or travel credits?
Of the five Spark credit cards, three offer cash back rewards and the other two–Spark Miles–rewards miles.
Premium Capital One Spark Business Credit Cards
With the Spark Cash and Spark Miles, the annual fee is waived for the first year, then it’s $95 for each consecutive card anniversary year.
Both of these Capital One business credit cards require excellent credit, typically a credit score of at least 700.
Is the Capital One Spark Business Card Worth the Annual Fee?
Is the $95 annual fee worth the extra 0.5% reward payout?
You’ll need to spend at least $5,000 a year just to have the purchase rewards pay the $95 annual fee. If you’re right around the $5,000 annual spending mark, you will be better off going with one of the no annual fee Spark Select or Spark Classic cards to profit 100% from the purchase rewards.
To profit from the 2% bonus, you’ll probably have to spend closer to $20,000 in annual card purchases because your first $5,000 in purchase rewards are used to pay the annual fee.
Should you opt for the flagship Spark Cash or Spark Miles, you have a year to gauge your spending habits before you need to pay the annual fee.
Redeeming Capital One Spark Rewards Points
The redemption option for your Spark Cash or Spark Cash Select is straightforward. You redeem your points for statement credits, which reduces your monthly statement balance. A penny saved is a penny earned.
You have a little more flexibility with the Spark Miles and Spark Miles Select as you have two redemption options:
- Book award travel through the Capital One travel portal powered by Orbitz
- Use the Capital One purchase eraser to receive travel statement credit on previous travel purchases
Both of these options are a valuable way to redeem your miles for one cent each for award travel. The largest downside is that you can’t transfer your points directly to the airline or hotel of your choice to get a potentially better rate.
Pros of Capital One® Spark® Cash for Business
- Earn unlimited 2% cash back for your business on every purchase, everywhere
- Earn a one-time $500 cash bonus once you spend $4,500 on purchases within 3 months from account opening
- No foreign transaction fee
The biggest appeal of the Capital One Spark Cash for Business is that you can earn more than 1% on purchases that other rewards credit cards consider non-bonus spending. If your business doesn’t spend a lot on advertising purchases, business travel, or office supply purchases–the most common business credit card bonus categories–the flat-rate Spark credit card is an attractive option.
Cons of Capital One Spark Cash for Business Card
Here’s why you might avoid applying for a Capital One Spark Cash for Business credit card:
- Can only earn cash rewards, not both
- Not many additional benefits that add value to the $95 annual fee beyond 2% purchase rewards
Only being able to earn 2% on every purchase might not be worth the hassle if your business spending can maximize the bonus categories of other business credit cards.
No foreign transaction fee is enticing, even on the Spark Select. However, it still might not be enough to sway your opinion.
No Annual Fee Capital One Spark Business Cards
If you want a no annual fee business credit card, you have three different choices with the Capital One Spark:
- Spark Classic
- Spark Cash Select
- Spark Miles Select
With the Spark Classic, you’ll earn 1% back on every purchase. This card is recommended for those with average credit in the 600 range. According to Capital One, “average credit” is defaulting on a loan within the last five years or someone who only has three years or less of credit history.
If you have excellent credit, you can earn 1.5 points per $1 spent with either of the Spark Select credit cards. With the Cash Select, you’ll get $1.50 in cash rewards for every $100 you spend. Opting for the Miles Select will give you $1.50 in travel credit for every $100 in card purchases.
Capital One defines excellent credit as:
- Never declaring bankruptcy or defaulting on a road
- Not being more than 60 days late on a credit card, loan, or medical bill within the last year
- Had a loan or credit with a credit limit above $5,000
Sign-Up Bonuses on All the Capital One Spark Business Cards
Note that Capital One doesn’t offer a sign-up bonus for the Spark Classic, so you’ll need to either apply for the Spark Select or Spark card.
- Capital One® Spark® Cash Select for Business: $200 cash bonus after spending $3,000 in the first 3 months of account opening
- Capital One® Spark® Cash for Business: $500 cash bonus after spending $4,500 in the first 3 months
- Capital One® Spark® Miles Select for Business: 20,000 miles ($200 value) after spending $3,000 in the first 3 months
- Capital One® Spark® Miles for Business: 50,000 miles ($500 value) after spending $4,500 in the first 3 months of account opening
The Best Capital One Spark Business Card Alternative
There are several alternatives to consider if the Capital One Spark Cash Business Card just isn’t exciting you.
Maybe you like the 2% purchase rewards, but want additional benefits to justify the annual fee. The Ink Business Preferred is possibly the best alternative business credit card with a $95 annual fee.
With the Ink Business Preferred℠ Credit Card can earn up to 3 points per $1 on the most common business and travel purchases. Although you’ll only earn 1 point per $1 on all base purchases, you’ll get these two additional benefits:
- Points are worth 1.25 cents each when redeemed for travel (1 cent each for statement credits)
- Can transfer points on a 1:1 basis to 13 airline and hotel loyalty programs
Transferring your points can easily make them worth 2 cents each for award travel. If you own a personal Chase credit card that earns Ultimate Rewards points, you can pool your points to earn award travel sooner with the best Chase credit cards!
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- 1 Capital One Spark Business Credit Card Options
- 2 Capital One Spark Cash Back or Miles Rewards?
- 3 Premium Capital One Spark Business Credit Cards
- 4 Is the Capital One Spark Business Card Worth the Annual Fee?
- 5 Redeeming Capital One Spark Rewards Points
- 6 Pros of Capital One® Spark® Cash for Business
- 7 Cons of Capital One Spark Cash for Business Card
- 8 No Annual Fee Capital One Spark Business Cards
- 9 Sign-Up Bonuses on All the Capital One Spark Business Cards
- 10 The Best Capital One Spark Business Card Alternative