Capital One Spark Cash Review

Over the last few years Capital One has had its sights set on taking over more of the business credit card market. It was mostly an afterthought as they built up their personal credit card portfolio. They finally woke up to the fact that they were overlooking the biggest spenders, and have frantically added to their business card portfolio. The most notable addition is the Capital One Venture X Business credit card, but before that they had various Spark miles and cash back earning cards. The really interesting thing is they can all be miles earning cards with the right set up. But, we will get into all of that, and more, in this Capital One Spark Cash review.

Current Welcome Offer

First up in our Capital One Spark Cash review is going over the details for the current welcome offer for the card:

• $750 Cash Back once you spend $7,500 on purchases within the first 3 months from account opening
• $0 annual fee for the first year; $95 after that
  • The Capital One Spark Cash will be reported to your personal credit report and will count against your Chase 5/24 count
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Capital One Spark Cash Review: Earning Structure

The Spark Cash, like all Capital One cards, has a very straightforward earning structure:

• 5% cash back on hotels and rental cars booked through Capital One Travel (why you may want to avoid this)
• 2% cash back on every other eligible purchase
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Application Rules

Here are the Capital One applications rules you should be aware of from our guide on all bank’s application rules.

Capital One generally will only approve you for one card every six months. This rule applies to both personal and business cards, meaning you cannot open a personal card and a business card within six months of each other.

Additionally, Capital One enforces a two-card maximum (for most people), regardless of personal or business. It is very difficult to hold more than two Capital One cards at a time.

Benefits Of The Card

The Capital One Spark Cash is not what we would call a perks heavy card. The only somewhat notable ones would be as follows:

• Free employee cards
• Rewards won’t expire for the life of the account, and you can redeem your cash back for any amount
• No foreign transaction fees
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Where Does This Card Fit In The Capital One Spark Card Family

As I notated above, there are two other cards in the Capital One Spark card family. Here is a quick overview of all 3 of them:

• Capital One Spark Cash Select
  • Earns 1.5% back on all eligible purchases
  • No annual fee
  • Usually the lowest welcome offer (but also the lowest required spend)
  • This card DOES count towards your Chase 5/24 status
• Capital One Spark Cash (the card being reviewed here)
  • Earns 2% back on all eligible purchases
  • $95 annual fee after the first year
  • The best mid tier offer, which is very rewarding, but still reachable for many
  • This card DOES count towards your Chase 5/24 status
• Capital One Spark Cash Plus
  • Earns 2% back on all eligible purchases (uncapped)
  • This card has an annual fee of $150 which is NOT waived.
    • Can earn a $150 statement credit by spending $150,000 in a calendar year
  • Usually has a very large welcome offer that requires a spend threshold that the majority of people are not able to hit
  • This card DOES NOT count towards 5/24

ToP Analysis

The Capital One Spark Cash works just like every other 2% card out there. I know that doesn't make this review very sexy, but it is what it is. That is kind of the beauty of the card though, you never have to juggle cards for bonus earning opportunities. Where it beats the rest of the 2% competition, though, is that it has the best welcome offer out there. Most of the other options offer nothing at all, or a fraction of what this card gives you if they do.

Even though this is a cashback card, one major positive feature is the ability to convert the cash back into Capital One miles. By also holding a Venture or Spark miles earning card, such as the Capital One Venture Rewards Credit Card or Capital One Spark Miles for Business, you could convert the cash back into Capital One miles at a ratio of 1 cent to 1 mile. That turns this welcome offer into potential Capital One miles. For your reference, here is a list Capital One transfer partners.

If you are looking for a rewarding welcome offer, one that can even be miles, with a straightforward earning structure, then this card is hard to beat. Even the $95 annual fee after the first year is pretty reasonable for a 2% back earning business card. Especially when you consider it has no earning caps like some others do. Just remember that this card will count against your Chase 5/24 count.

Capital One Spark Cash Review: ToP Thoughts

Hopefully this Capital One Spark Cash review highlights what this card has to offer, while also pointing out some of its shortcomings. I think that it will be a very popular option for the over 5/24 crowd because of the good earning structure, substantial welcome offer and the ability to turn the cash back into miles. This is a great option for your business if you crave simplicity at a reasonable price.

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