Capital One Spark Cash Plus Review: Earn Cashback for Your Business

Jacqueline DeMarco

Writer

Terms apply to American Express benefits and offers. Enrollment may be required for select American Express benefits and offers. Visit americanexpress.com to learn more.

Running a business takes a lot of elbow grease. It can also take a lot of spending. One easy way to oversee employee spending is to give some or all of your employees access to a company credit card or charge card.

With the Capital One® Spark® Cash Plus card, it’s possible to issue a free card to as many employees as you would like and you can set custom spending limits for each individual who has a card. 

You’ll also earn cashback rewards for every purchase they make. The catch? The Captial One Spark Cash Plus card is not a traditional credit card — it is a pay-in-full charge card. This means you must pay off the card’s account balance in full every single month. 

Quick Facts: Capital One Spark Cash Plus

  • Rewards rate: 5% cashback on hotels and rental cars booked through Capital One Travel; 2% on all other purchases
  • Welcome offer: Earn $1,200 cashback after spending $30,000 in the first 3 months from account opening
  • Annual fee: $150 (waived if you spend $150,000 that year)

. . .

Overview of the Capital One Spark Cash Plus

The Capital One® Spark® Cash Plus is not a traditional credit card — it’s a charge card. It comes with no APR because you must pay the balance in full each month. While it’s never a good idea to carry an account balance (doing so leads to sky high-interest charges), with the Capital One Spark Cash Plus card, you don’t have the option in a pinch. 

You need to be ready to pay off your account balance in full every single month. Otherwise, you will be charged a late payment fee and Capital One will flag your account as past due until full payment is received.

The Capital One Spark Cash Plus card comes with an annual fee of $150, but if you spend $150,000 in a year you receive a refund of this fee. This refund and your rewards possibilities depend heavily on how much you and your employees typically spend — if your business spends a lot, get ready to earn a lot. 

Pros

  • Cashback on all purchases
  • No preset credit limit
  • Free employee cards
  • No foreign transaction fees

Cons

  • High annual fee
  • Must pay balance in full each month
  • Penalty fee for late payments

Get started with the Capital One Spark Cash Plus.

Capital One Spark Cash Plus Welcome Bonus

When you first sign up for a credit card or charge card, you can often qualify for an enticing welcome bonus. The trick to making the most of welcome bonuses is to not overspend for the sake of earning the reward. Whatever the reward is, it is not worth more than the amount you need to spend to earn it. 

That being said, if your business’s normal spending habits can help you qualify for the Capital One® Spark® Cash Plus card, then you are in luck. This card comes with a pretty nice bonus. If you spend $30,000 in the first three months of being a cardholder, you can earn a one-time cash bonus of $1,200. 

Earning Rewards With the Capital One Spark Cash Plus

To start, you will earn an unlimited 5% cashback on rental cars and hotel bookings as long as you book them through Capital One Travel. On top of that, you earn 2% cashback on all other purchases.

There are no limits or restrictions on how much you can earn in rewards or what purchases earn them, plus you earn rewards for all employee spending.

Benefits of the Capital One Spark Cash Plus

The Capital One Spark Cash Plus comes with a relatively standard set of cardholder perks and benefits, like:

  • No foreign transaction fees
  • Free employee cards
  • Roadside assistance
  • Capital One Travel deals
  • Fraud and security alerts
  • Extended warranty
  • $0 fraud liability for lost or stolen cards

Get started with the Capital One Spark Cash Plus.

How the Capital One Spark Cash Plus Works

Remember — the Capital One Spark Cash Plus card isn’t a credit card, it’s a charge card. A charge card allows you to make purchases on credit, similar to a credit card. However, unlike a credit card, a charge card requires you pay the entire balance in full by the end of the billing cycle, typically monthly.

You can set up automatic payments to make sure you never miss that required payment and can assign an account manager to oversee transactions and payments so they can resolve any problems that arise. 

You will receive a handy year-end summary that will give you an itemized report of company spending, which will make budgeting and tax season so much easier. This card gives you the option to download purchase records into a variety of formats, such as Quicken, QuickBooks, and Excel, so you can create an accounting process that works well for your team. 

To make things even easier, you can quickly review detailed information about merchants from past transactions, such as their phone number, address, and logo (when available).

Applying for the Capital One Spark Cash Plus only takes about 10 minutes, and you can receive a decision in a matter of seconds. Make sure you know the legal names, addresses, and Social Security numbers for all business owners before applying. You should also gather your legal business name, address, and business tax ID number (TIN).

The Capital One Spark Cash Plus is a fairly flexible business charge card. Once your account is open, you can issue a card to as many employees as you would like for free. For each employee, you can set a custom spending limit. You will also have access to virtual cards and have the option to choose your own monthly due date. 

Who Should Get the Capital One Spark Cash Plus?

The Capital One Spark Cash Plus is a solid fit for business owners who have a lot of employees who need access to a company charge card. This card makes it easy to oversee employee spending and enables you to earn a lot of rewards for their spending.

The flat-rate cashback system also makes it easy to earn rewards — the last thing any busy business owner needs to worry about is things like rotating rewards categories. 

Get started with the Capital One Spark Cash Plus.

Who Shouldn’t Get the Capital One Spark Cash Plus?

The Capital One Spark Cash Plus card may not be the best fit for business owners who don’t spend much, as you may end up paying the $150 fee for very little benefit. You can cancel out the $150 annual fee by spending $150,000 annually, but for many business owners, that level of spending isn’t within reach. 

Even so, if you can earn enough cashback rewards to cancel out the annual fee, this card may be a valuable tool for you.

Alternatives to the Capital One Spark Cash Plus

If you cannot find a way to balance out the cost of the annual fee, you are better off looking for another business credit card that doesn’t charge an annual fee or charges a much lower one. 

Capital One Spark Cash Plus vs. Ink Business Preferred® Credit Card

  • Rewards rate: 3x points on every dollar spent on shipping, advertising with social media and search engines, internet, cable, phone, and travel — up to the first $150,000 spent in combined purchases in these categories; 1x per dollar spent everywhere else
  • Welcome offer: Earn 100,000 bonus points after you spend $8,000 in purchases in the first 3 months
  • Annual fee: $95
Ink Business Preferred Credit Card

. . .

With the Ink Business Preferred® Credit Card, you can earn 3x points on the first $150,000 spent on travel and select business categories each account anniversary year (then 1x points). Plus, you’ll earn 1x points on all other purchases. 

You get the most bang for your buck when you redeem rewards for travel purchases made through the Chase Ultimate Rewards program, making this card a good fit for businesses that require a lot of employee travel.

This card only charges a $95 annual fee, making it a more affordable option than the Capital One Spark Cash Plus card. 

Capital One Spark Cash Plus vs. Capital One Spark Cash Select for Good Credit 

  • Rewards rate: 1.5% cashback on every purchase with no minimums or expiration date; 5% cashback on hotels and rental cars booked through Capital One Travel
  • Welcome offer: None
  • Annual fee: $0
Capital One Spark Cash Select

. . .

If the Capital One Spark Cash Plus card appeals to you, the Capital One Spark Cash Select for Good Credit is also worth considering. The Spark Cash Select card is a credit card, not a charge card, so you can carry a balance with it if needed.

This credit card doesn’t charge an annual fee and earns you a flat 1.5% cashback rate on all purchases, plus 5% on hotels and rental cars booked through Capital One Travel. 

Capital One Spark Cash Plus vs. Blue Business® Plus Credit Card from American Express

  • Rewards rate: 2x points on everyday business purchases (up to the first $50,000 annually, then 1x points); 1x points on all other purchases
  • Welcome offer: Earn 15,000 Membership Rewards Points after spending $3,000 in purchases in your first 3 months
  • Annual fee: $0 (rates and fees)
Blue Business Plus Credit Card

. . .

If avoiding an annual fee is your priority and you want to have a business credit card, not a charge card, you may want to check out the Blue Business® Plus Credit Card from American Express.

This card doesn’t charge an annual fee but still comes with a strong rewards rate. You can earn 2x points on your everyday business purchases (think client dinners or office supplies) up to the first $50,000 annually, then 1x points. You’ll also earn 1x points on all other purchases. 

You can also provide free employee cards with customizable spending limits, and designate an account manager to monitor the team’s card use.

Final Thoughts

If you're a business owner with excellent credit who expenses more than $150,000 per year, the Capital One® Spark® Cash Plus may be a good choice for your business costs. You can set cards up for individual employees and even earn rewards for their spending.

Just make sure you'll use it enough to offset the annual fee and remember to pay it off every month since it's a charge card and therefore doesn't allow you to carry over your balance.


Terms apply to American Express benefits and offers. Enrollment may be required for select American Express benefits and offers. Visit americanexpress.com to learn more.

Disclosure: Opinions expressed here are the author's alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.

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Author picture

I'm an award-winning lawyer and personal finance expert featured in Inc. Magazine, CNBC, the Today Show, Business Insider and more. My mission is to make personal finance accessible for everyone. As the largest financial influencer in the world, I'm connected to a community of over 20 million followers across TikTok, Instagram, YouTube, Facebook and Twitter. I'm also the host of the podcast Erika Taught Me. You might recognize me from my viral tagline, "I read the fine print so you don't have to!"

I'm a graduate of Georgetown Law, where I founded the Georgetown Law Entrepreneurship Club, and the University of Notre Dame. I discovered my passion for personal finance after realizing I was drowning in over $200,000 of student debt and needed to take action-ultimately paying off my student loans in under 2 years. I then spent years as a corporate lawyer representing Fortune 500 companies, but I quit because I realized I wanted to have an impact; I wanted to help real people and teach them that you can create a financial future for yourself.

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Our aim is to help you make financial decisions with confidence through our objective article content and reviews. Erika.com is part of an affiliate sales network and receives compensation for sending traffic to partner sites, such as MileValue.com. This compensation may impact how and where links appear on this site. This site does not include all financial companies or all available financial offers. This in no way affects our recommendations or article content.

Advertiser Disclosure

Our aim is to help you make financial decisions with confidence through our objective article content and reviews. Erika.com is part of an affiliate sales network and receives compensation for sending traffic to partner sites, such as MileValue.com. This compensation may impact how and where links appear on this site. This site does not include all financial companies or all available financial offers. This in no way affects our recommendations or article content.

Advertiser Disclosure

Our aim is to help you make financial decisions with confidence through our objective article content and reviews. Erika.com is part of an affiliate sales network and receives compensation for sending traffic to partner sites, such as MileValue.com. This compensation may impact how and where links appear on this site. This site does not include all financial companies or all available financial offers. This in no way affects our recommendations or article content.