In the world of business rewards credit cards, it doesn’t get much simpler than the flat 2% cash-back rate on the Capital One® Spark® Cash for Business. All purchases, all year long, earn an unlimited 2% cash back.
If you run a business, you know that every dollar counts. Having a card that earns high cash back across the board — and knowing how to use it — means you’ll have more dollars to put back into your business. Here’s how to make the most of the Capital One® Spark® Cash for Business.
How to maximize rewards with the Capital One® Spark® Cash for Business
With a rewards structure as simple as the Capital One® Spark® Cash for Business’s, maximizing earnings mostly has to do with knowing when to use this card and knowing when to use another.
Here are a few tips to keep in mind:
If you can get more than 2% back on a purchase, use another card. The Capital One® Spark® Cash for Business has one of the highest flat cash-back rates around with its unlimited 2% on everything. But there are other credit cards that earn higher percentages on specific categories.
The Ink Business Cash℠ Credit Card, for example, earns 5% cash back up to the first $25,000 in combined spending per year on office supplies and phone, internet and cable services.
With the American Express® Business Gold Card, cardholders can earn 4 Membership Rewards points per dollar spent in two bonus categories (out of six) where they spend the most each billing cycle (up to the first $150,000 in combined purchases per year; then 1 point back):
- Airfare purchased directly from airlines.
- U.S. purchases at restaurants.
- U.S. purchases for advertising in select media (online, TV, radio).
- U.S. purchases at gas stations.
- U.S. purchases made directly from select technology providers of computer hardware, software and cloud solutions.
- U.S. purchases for shipping.
Other spending earns 1 point per dollar spent. Terms apply.
The point is, if your businesses has broad expenses, you can earn more than the flat 2% offered with the Capital One® Spark® Cash for Business if you’re a bit more strategic with the cards you use.
More about this card
Know whether you should get the Capital One® Spark® Cash Select for Business instead. The Capital One® Spark® Cash for Business has an annual fee of $0 for the first year, then $95. There’s also a version with a $0 annual fee: the Capital One® Spark® Cash Select for Business. That card, however, offers a lower cash-back rate — 1.5%.
How to choose: The line is drawn at $19,000 in annual spending. If you spend more than that, you’ll end up earning more net cash back with the Capital One® Spark® Cash for Business. If you spend less, the Capital One® Spark® Cash for Business’s annual fee cancels out the higher cash-back rate.
Spend enough to get the sign-up bonus. The Capital One® Spark® Cash for Business comes with a great sign-up bonus: A one-time $500 cash bonus once you spend $4,500 on purchases within 3 months from account opening. Many credit card bonuses come as points or miles, which have to be converted and may limit your redemption value, but the Capital One® Spark® Cash for Business’s bonus is cool cash. You can spend that anywhere.
How to redeem rewards on the Capital One® Spark® Cash for Business
Because the Capital One® Spark® Cash for Business earns straight cash back, redeeming essentially just involves picking where you’d like the cash sent. Here’s how it’s done.
- Log in to your account.
- Below the image of your credit card, you’ll see “Rewards” next to a dollar amount that represents your current rewards balance. Click on the dollar amount.
- Choose how you’d like to redeem your rewards.
Cash-back redemption options include account credit, check by mail and redeeming for existing purchases on your statement. So whatever’s easiest for you, just click and redeem.