Capital One Spark Cash Select For Business Review

Overview

Spark Cash Select for Business, offered by Capital One, offers an unlimited 1.5% cash back on all purchases. This is Capital One’s middle-rate cash back business credit card, between Spark Cash for Business (read our review) with a flat rate of 2% back, and Spark Classic with a flat rate of 1%.

Cards with flat rates, such as Spark Cash Select, are an easy way to save money and manage your expenses without dealing with all the hassle of tiered rewards systems or point values. And, on top of the flat rate, there is a lot to like about Spark Cash Select — it has no annual fee, it comes with an early spend bonus, and cardholders get access to benefits offered by Capital One and Visa.

Is Spark Cash Select right for you? How does it compare to other business credit cards? Read on for the details!

Spark Cash Select For Business At A Glance

Eligibility

Capital One states that this card is for business owners with excellent credit. You must meet these standards to qualify:

I’ve never declared bankruptcy or defaulted on a loan; I haven’t been more than 60 days late on any credit card, medical bill, or loan in the last year; I’ve had a loan or credit card for 3 years or more with a credit limit above $5,000.

Rewards & Fees

Rating: Good

Cardholders can receive a $200 welcome bonus by spending at least $3,000 in the first three months of opening their account.

Spark Cash Select cardholders earn unlimited 1.5% cash back on all purchases. That means you’ll get $15 back for every $1,000 worth of charges you put on your Spark Cash Select card. Because you earn a flat rate of cash back, instead of a high rate of cash back on certain purchases, this card is best for business owners who spend a lot of money in categories that aren’t typically covered by high-earning categories (such as office supply stores, internet and phone services, gas stations, and restaurants) or owners who just want a simple and hands-off way to earn points.

Regardless, if you’re interested in this card, you should know that Capital One offers another cash back credit card with a flat rate of 2% cash back. However, because that card carries an annual fee and this one doesn’t, you can earn more money with this card until you spend at least $19,000. After you spend $19,000, you would begin to earn more money from Spark Cash.

On top of no annual fee, Capital One bundles this card with no foreign transaction or balance transfer fees. However, there is a fee for cash advances of $10 or 3% of the amount of each cash advance, whichever is higher.

Redeeming Rewards

Rating: Excellent

Cash back can be redeemed in the form of a statement credit or a check. Cardholders can set up an automatic redemption preference, or they can simply request the rewards at their convenience. Rewards do not expire while your account is open and can be transferred to other Capital One cards.

Benefits

Rating: Excellent

Like all Capital One business cards, Spark Cash Select cardholders have access to Capital One Spark benefits as well as Visa Signature Business Card [PDF] benefits. Cardholders have access to many business and travel benefits, including:

• Extended warranty protection
• Price protection
• Access to Visa SavingsEdge (15% off on some purchases from participating merchants)
• Auto Rental Collision Damage Waiver
• Travel and emergency assistance
• Lost luggage reimbursement
• Travel accident insurance

The Spark Cash Select card also comes with an introductory APR on purchases of 0% for your first nine months. This is noteworthy if your business is planning a large purchase and needs to carry a balance. However, keep in mind that there is no intro rate for balance transfers, unlike some other cards.

Spark Cash Select VS Spark Cash

On the surface, Spark Cash (Capital One’s other cash back card) looks like a better deal. With a flat rate of 2% cash back, Spark Cash Select has the potential for higher earning. However, Spark Cash carries an annual fee of $95, which will impact your savings.

We’ve done the math and concluded that businesses that plan to spend less than $19,000 per year (about $1,580 per month) should use Spark Cash Select. After you hit the $19,000 mark, you’ll save more money via Spark Cash than with Spark Cash Select. (Note that Spark Cash does not carry an annual fee the first year.)

It’s also worth a mention that the Spark Cash Select card offers 0% APR on purchases for the first nine months, while Spark Cash has no introductory rates. This means that businesses planning a large purchase that’ll require carrying a balance may be swayed to apply for Spark Cash Select.

Head over to our Capital One Spark Cash Review for more information on Capital One’s other cash back card.

Spark Cash Select VS Chase Ink Business Unlimited

If you are interested in Spark Cash Select, you might want to consider Ink Business Unlimited by Chase as well. Ink Unlimited is very similar to Spark Cash Select — it offers unlimited 1.5% cash back on all purchases with no annual fee — but it carries a higher bonus offer, as well as some other perks that might be better suited to your uses.

Chase currently offers a bonus of $500 cash back if you spend at least $3,000 in the first three months of opening your account — that’s $300 more than Capital One is offering on their card. And, at 0% APR for the first 12 months of opening your account, Ink Unlimited also has a longer introductory rate by three months. If you’re interested in maximizing rewards, Chase has more ways to redeem accrued rewards, whether that’s through cash back, applying rewards to Amazon purchases, or transferring rewards to other partner programs.

That said, if you are only interested in receiving cash back, either card will suit your purposes. You will receive an equivalent amount of cash back via both cards. Head over to our Chase Ink Business Unlimited Review for more information on Chase’s card.

Spark Cash Select VS American Express SimplyCash Plus

SimplyCash Plus offers tiered cash back rewards for 5% and 3% cash back on certain purchases. All purchases not covered by one of the tiers receive 1% cash back.

SimplyCash Plus cardholders earn 5% cash back from purchases at office supply stores and on wireless telephone purchases. For the 3% cash back category, you get to choose from one of eight possibilities: airfare, hotel rooms, car rentals, gas stations, restaurants, advertising purchases, shipping, or computer hardware, software, and cloud computing. Because the 3% tier is a category of your choosing, SimplyCash Plus can be useful for a variety of businesses, despite the fact that you still have to deal with spending categories.

Head over to our full American Express SimplyCash Plus Review for all the details.

Final Verdict

Capital One Spark Cash Select for Business is one of the few business credit cards available to offer flat rate rewards above 1% cash back. Although some businesses will be able to earn more from Spark Cash, or a card with tiered rewards, Spark Cash Select is a good choice for business owners, especially if you aren’t planning on spending more than $19,000 per year on your card.

Naturally, businesses with a lot of expenses in certain categories (office supplies, internet, cable and phone purchases, restaurants, or gas) might find that they can save more money via a card with tiered rewards. Likewise, businesses that have a lot of expenses, in general, might find that other cards offer higher savings, even if you have to pay an annual fee.

Wondering about your other options for business credit cards? Compare popular cards at Credit.com.