If you’re looking for a business credit card with rewards that aren’t overly complicated, look no further than the Capital One® Spark® Cash for Business. With this card, you’ll earn a standard 2% cash back for every dollar you spend, with no need to keep track of rotating or bonus categories.
Not only are rewards easy to earn, but they are extremely easy to redeem as well. Simply use your card for any purchase and redeem your rewards as a statement credit to cover it.
Your rewards will never expire, and you can earn unlimited cash back on all of your business purchases no matter how much you spend. Best of all, this card comes with one of the lowest annual fees among business cards, and it’s waived the first year.
The Simple Dollar’s Key Takeaways
- Easy-to-understand rewards. Since you’ll earn 2% cash back for every dollar you spend, this card makes it easy to rack up rewards quickly. Plus, you can redeem them for anything you want – with no rules or restrictions.
- Generous signup bonus. Currently, this card doles out a $500 signup bonus after you use your card for just $4,500 in business purchases within 3 months from account opening. That’s pretty sweet.
- Low annual fee – waived the first year. If you’re looking for a business card that won’t cost you an arm and a leg, this one is it. The Capital One® Spark® Cash for Business charges a $95 annual fee, but it is waived the first year.
Capital One® Spark® Cash for Business
- Earning unlimited 2% cash back could mean thousands of dollars each year going back into your business
- Plus, a one-time $500 cash bonus once you spend $4,500 on purchases within 3 months from account opening
- Use Spark Cash across all your business spend, with no categories to limit your purchasing
- $0 intro annual fee for the first year; $95 after that
- Rewards won't expire for the life of the account, and you can redeem your cash back for any amount
- Get employee cards at no additional cost, and earn rewards from their business spend
Capital One® Spark® Cash for Business Review: Perfect for Business Owners Who Hate Rewards Programs
While most top business credit cards offer rewards programs, some have proven to be overly complicated for the average consumer. That’s where the Capital One® Spark® Cash for Business comes in. Since this card offers a standard 2% cash back per dollar spent, you won’t have to navigate different earning tiers or keep track of rotating bonus categories. With the Capital One® Spark® Cash for Business, you will earn 2% cash back on each dollar spent no matter what. In a complicated world, this simple earning structure could provide a welcome relief.
Once you’re ready to redeem your rewards, you’ll be impressed with just how easy it is. Unlike other business credit cards that offer complicated rewards programs with transfer partners that distort the value of your points, this card’s rewards program is crazy simple.
The best part is, you can redeem your rewards for any purchase you want – not just travel. After you rack up a ton of rewards, you can use them for a trip, redeem them for groceries, or use them to splurge on yourself. Since there are no rules, you can redeem your rewards however you want.
Capital One® Spark® Cash for Business: Where It Falls Flat
With a low annual fee and an awesome rewards program, criticizing this card isn’t that easy. Still, there is one small area where it has some room for improvement – and that’s in the fact that your rewards are limited to 2%.
Some other business cards (which we’ll look at shortly) offer up to 5x points in certain categories, which makes them a better option if you have a lot of business expenses that would qualify.
Meanwhile, another area we’re not thrilled with is this card’s interest rate. If you expect you’ll need to carry a balance on your business credit card at some point, you’ll probably want to look for a card with a lower APR.
Who This Card is Good For:
- Business owners who want to earn cash back on all of their spending
- People who hate the complexity of most rewards programs
- People who don’t like large annual fees
Who Should Pass:
- Business owners who might carry a balance from month to month
- Anyone who could earn more with a card that offers 5x points in certain categories
- People who want to earn points that transfer to hotel and airline loyalty programs
How Does This Card Compare to Other Business Cards?
To see how this card stacks up to others in the business scene, let’s compare it to the SimplyCash® Plus Business Credit Card from American Express:
|Capital One® Spark Cash for Business||SimplyCash® Plus Business Credit Card from American Express|
|Annual Fee||$95, waived the first year||$0|
|Earnings Structure||Earn 2% cash back for every dollar you spend||Earn 5% cash back on the first $50,000 spent at wireless telephone services purchased directly from U.S. service providers and U.S. office supply stores. Terms Apply.|
|Bonus Categories||None||5% and 3% apply to the first $50,000 in purchases per calendar year, then 1% applies thereafter. Cash back received is automatically credited to your statement. Terms Apply.|
|Redeem for...||Statement Credits||Statement Credits|
If you’re in the market for a business card, either one of these would be a good option. The biggest differences are in how points are earned, and of course, the annual fee.
One benefit that comes with the SimplyCash® Plus Business Credit Card from American Express is that it doesn’t charge an annual fee at all. Because of this, you can earn as much or as little rewards as you like without having to pay for the privilege. Plus, you’ll have the ability to earn 3% to 5% cash back in certain categories (up to $50,000). If you happen to spend a lot at U.S. office supply stores, for example, you might be a lot better off with a card that doles out 5% cash back in that category. Not to mention the fact that you’ll earn 3% cash back in one category of your choosing. As of this writing, the 3% cash back categories you can choose from include:
- Airfare purchased directly from airlines
- Hotel rooms purchased directly from hotels
- Car rentals purchased from select car rental companies
- U.S. Gas stations
- U.S. restaurants
- U.S. purchases for advertising on select media
- U.S. purchases for shipping
- U.S. computer hardware, software, and cloud computing purchases made directly from select providers
Still, the Capital One® Spark® Cash for Business is a really solid option for anyone who just wants to earn a straightforward 2% cash back for every dollar they spend. Plus, the card currently has a much higher signup bonus that makes the initial payoff that much greater. At the moment, the Capital One® Spark® Cash for Business offers $500 cash back once you spend $4,500 on purchases within 3 months from account opening.
Best Strategy with the Capital One® Spark® Cash for Business
Since this card offers a set rate of 2% cash back for every dollar you spend, your strategy will be simple and painless. Simply use your card for all of your business expenses and rack up 2% cash back along the way.
Once you’re ready to redeem your rewards, you can do so without fear of restrictions, rules, or complicated rewards programs. Simply redeem your rewards as a statement credit in whatever denomination you see fit. It really is as simple as that.
Conversely, you could also pair this card with another business card like the SimplyCash® Plus Business Credit Card from American Express to earn even more rewards. If you had both, you could use the SimplyCash® Plus Business Credit Card from American Express for 3% and 5% cash back categories, then put the rest of your spending on your card that earns 1% cash back for all purchases. Since the SimplyCash® Plus Business Credit Card from American Express doesn’t charge an annual fee, you can’t really lose with this strategy, either. Plus, you won’t have to carry the burden of two annual fees.
Want Rewards Specifically for Travel? Consider This Card Instead
If you want a card that is specifically for travel, you might also want to take a look at the Ink Plus® Business Credit Card. As part of the Chase Ultimate Rewards program, this card lets you earn points that transfer to popular loyalty programs like IHG, Marriott, Ritz Carlton, Southwest Airlines, and United MileagePlus. Plus, you can redeem your points for travel through the Chase Ultimate Rewards travel portal at a 20% discount or turn them in for cash back or gift cards. Because of all of these options, these points are some of the most flexible among all travel programs.
In our review of the Ink Plus® Business Credit Card, we highlighted all of the creative and lucrative ways you can stretch these points to the max. Suffice it to say that Ultimate Rewards points are some of the most lucrative on the market. Plus, the earning structure for this card is truly outrageous. Not only do you earn a huge signup bonus, but you’ll earn 5X points per $1 on the first $50,000 spent in combined purchases at office supply stores and on cellular phone, landline, internet and cable TV services each account anniversary year, and 2X points at gas stations and hotels.
*Ink Plus® Business Credit Card is currently unavailable
If you’re considering a rewards credit card for your business, you have a ton of options to choose from. The Capital One® Spark® Cash for Business just so happens to be one of the least complicated options you might end up with due to its simple process for earning rewards and redeeming them. And if you hate traditional rewards programs and all the hoops they make you jump through, this card could easily be the right one for you.
Business Credit Cards Directory
Before you pull the trigger, it might make sense to see what other cards are out there. Explore our business credit card directory for all of the top cards and offers.
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