Capital One Spark Cash Plus Review

The Capital One Spark Cash Plus is a straightforward cashback card aimed at businesses with high expenses. This is for businesses that want a straight forward rewards program and want the flexibility on redemption that only cash back can bring. We will look at the welcome offer, the earning structure, card perks and give our overall thoughts in this Capital One Spark Cash Plus review.

Current Welcome Offer

The Capital One Spark Cash Plus has the following welcome offer:

• $1,200 Cash Back once you spend $30,000 in the first 3 months.
• This card has an annual fee of $150 which is NOT waived.

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 has a two-card maximum, regardless of personal or business. It is virtually impossible to hold more than 2 Capital One cards at a time.

Spark Cash Plus Earning Structure

The Capital One Spark Cash Plus comes with the following earning structure:

• 5% back on hotels and rental cars booked through Capital One Travel.
• 2% back on all other eligible purchases, uncapped

Benefits

Like other cash-back cards, the Capital One Spark Cash Plus does not offer many benefits. The few it does have are:

• No foreign transaction fees
• It also does not have a preset spending limit, which can be helpful for businesses that make larger purchases.
  • This is a pay in full every month card because of that.
• You can add employee cards at no additional cost

Spark Cash Plus Review: ToP Analysis

The Capital One Spark Cash Plus card appears to be aimed at a particular market – businesses with high expenses. The current welcome offer is a significant downgrade compared to previous offers. The highest the offer gets is $3,000 and that is the time to grab the card, assuming you can handle the spend.

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 the welcome offer into Capital One miles. Here is a list Capital One transfer partners.

Lastly, is this card a long term keeper? There are other cards that offer 2% cash back and don't have an annual fee. But, most cash back cards charge foreign transaction fees, while the Capital One Spark Cash Plus card does not. We should also note that if your businesses expenses are heavy in the areas of travel, communication services, shipping etc., there are other business cards that offer much better earning rates in those categories. Each business can decide if this charge card makes sense for long term, but it's certainly worth grabbing for the first year.

Capital One Spark Cash Plus Review: ToP Thoughts

The Capital One Spark Cash Plus is a decent 2% cash back card but other business cards offer the same return without the annual_fees annual fee. On the other hand, the Spark Cash Plus card has no foreign transaction fees, and is a charge card with no preset spending limit. This card isn't going to be feasible for everyone, but for high spenders it is definitely worth a look. Especially when the welcome offer is near its previous high.

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