Capital One Spark Cash Plus Review
The Quidget_Spark_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 Quidget_Spark_Plus review.
Update 2/21/24: This offer, like the Capital One Venture X Business card, is now set to end on March 11th, 2024.
Current Welcome Offer
The Quidget_Spark_Plus has the following welcome offer:
- The card has an annual fee of annual_fees which is NOT waived.
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 Quidget_Spark_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
Like other cash-back cards, the Quidget_Spark_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 Quidget_Spark_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 Quidget_Venture_Rewards or Quidget_Spark_Miles, 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 Quidget_Spark_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 Quidget_Spark_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.