Capital One Spark Cash Select Review: 1.5% Cash Back With No Annual Fee

This business credit card offers 1.5% cash back on all purchases, with no bonus categories or rewards caps to worry about, plus a welcome bonus and a 0% APR period.

Claire Tsosie, Paul SoucySeptember 4, 2020

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THIS PAGE MAY BE OUT OF DATE

This page includes information about one or more products not currently available on NerdWallet:

  • Bank of America® Business Advantage Cash Rewards Mastercard® credit card

  • Capital One® Spark® Cash Select for Business

As a result, offers described on this page may be out of date. See our NerdWallet’s Best Credit Cards page for updated offers.

Our Take

4.2

NerdWallet rating 

The bottom line: A fine choice for entrepreneurs who want a no-annual-fee cash-back card that doesn't charge foreign transaction fees. If you don't plan to use the card for international purchases, though, go with a more rewarding option.

Capital One Spark Cash Select Business Credit Card

Capital One® Spark® Cash Select for Business

Annual Fee

$0

Regular APR

13.99% - 23.99% Variable APR

Intro APR

0% on Purchases for 9 months

Recommended Credit Score

Quick Facts

Pros & Cons

Pros

  • High rewards rate

  • No annual fee

  • No foreign transaction fee

Cons

  • None

Alternate Pick: Bonus categories

Bank of America® Business Advantage Cash Rewards Mastercard® credit card

Rewards you can customize

Earn 3% cash back in a category of your choice from a list of six options; 2% cash back on dining; and 1% back on all other purchases. The 3% and 2% rates are capped at $50,000 a year in combined spending. Annual fee: $0.

Read our review

Compare to Other Cards

Annual Fee

$0

Annual Fee

$0

Annual Fee

$0

Regular APR

13.24% - 19.24% Variable APR

Rates & Fees

Regular APR

13.24% - 19.24% Variable APR

Regular APR

13.24% - 19.24% Variable APR

Rates & Fees

Intro APR

0% intro APR on purchases for 12 months from the date of account opening

Intro APR

0% intro APR on Purchases for 12 months

Intro APR

0% on purchases for 12 months from the date of account opening

Recommended Credit Score
Recommended Credit Score
Recommended Credit Score

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Full Review

For entrepreneurs who value simplicity, the low-maintenance Capital One® Spark® Cash Select for Business is a solid choice. For an annual fee of $0, it offers an unlimited 1.5% cash back on all purchases, a decent 0% APR offer and a good sign-up bonus. And unlike most cash-back cards, it charges no foreign transaction fees.

It's not the most rewarding no-annual-fee cash-back card available for small businesses, though. You can find higher rewards rates or larger sign-up bonuses on other cards in this category. (Some good options are included in this review.) And if you're a big spender, consider its sibling card, the Capital One® Spark® Cash for Business, which offers an unlimited 2% cash back on all purchases for an annual fee of $0 intro for the first year, then $95.

If you're keen on finding a no-annual-fee cash-back card without foreign transaction fees, though, the Capital One® Spark® Cash Select for Business is a winner.

Capital One® Spark® Cash Select for Business: Basics

  • Card type: Small business.

  • Annual fee: $0.

  • Welcome bonus: Earn a one-time $200 cash bonus once you spend $3,000 on purchases within the first 3 months from account opening.

  • Rewards: Unlimited 1.5% cash back on all purchases.

  • Interest rate: 0% on Purchases for 9 months, and then the ongoing APR of 13.99% - 23.99% Variable APR.

  • Foreign transaction fees: None.

  • Other benefits: 

    • Itemized year-end spending reports.

    • Option to download purchase records quickly and securely to accounting software, including Quicken, Quickbooks and Excel.

Why you might want the Capital One® Spark® Cash Select for Business

Simple Flat-rate rewards

Many business cash-back cards offer bonus categories that can supercharge your rewards if your business spending fits into them — or limit your rewards if it doesn't. By offering a 1.5% flat rate on all spending, which matches the industry standard for consumer credit cards, the Capital One® Spark® Cash Select for Business does away with such complications. That makes this card a good choice for a business whose spending is all over the map, or not concentrated in typical bonus categories like office supplies or travel.

Bonus categories also tend to focus on operating expenses rather than inventory. The Capital One® Spark® Cash Select for Business pays 1.5% on all purchases, even inventory orders. Put $10,000 a month in inventory spending on the card, for example, and you've got $1,800 in rewards in a year. To further simplify things, you can set up automatic redemption to cash in your rewards when the balance reaches a certain amount. Or you can redeem on request.

Introductory 0% APR period

If you’re planning to furnish a new office or have another large purchase coming up, the Capital One® Spark® Cash Select for Business gives you an introductory APR of 0% on Purchases for 9 months, and then the ongoing APR of 13.99% - 23.99% Variable APR. This perk grants you extra time to pay off the expense without incurring interest.

To give you an idea of the potential savings, say you spend $15,000 shortly after receiving the card and plan on paying the balance in full before the end of the 0% period. If you were to make the same purchase on a card with an 18% APR, you’d pay more than $1,100 in interest over nine months — cash you’d probably rather invest in your business.

NO FOREIGN TRANSACTION FEES

Most cash-back cards slap on foreign transaction fees when you make international purchases, but this one doesn't. That's good if you travel internationally — and great if you buy inventory overseas. Credit card foreign transaction fees are typically 3%, meaning they can easily wipe out the value of any rewards you earn. That's not a concern with this card.

How it compares with other Spark cards

Of the five cards in the Capital One Spark family, the Capital One® Spark® Cash Select for Business is the $0-annual-fee option with the highest rewards rate. Two other Spark cards also offer cash back:

The other cards — the Spark Miles cards — offer rewards in miles, rather than cash back. Miles are worth 1 cent apiece when redeemed for a broad range of travel purchases. None of these cards will charge you foreign transaction fees.

For more analysis, check out NerdWallet's comparison of these cards. Here's how they stack up.

Why you might want a different card

Higher flat-rate rewards

When you're comparing the Capital One® Spark® Cash for Business and the Capital One® Spark® Cash Select for Business, the latter might seem like the best option if you're trying to avoid annual fees. But there's a third option that might be even better: the American Express Blue Business Cash™ Card.

This card offers 2% cash back on all eligible purchases up to $50,000 per calendar year, then 1%, for an annual fee of $0. Terms apply. Its 0% intro APR is also longer than the one on the Capital One® Spark® Cash Select for Business: 0% intro APR on Purchases for 12 months, and then the ongoing APR of 13.24% - 19.24% Variable APR. However, it charges foreign transaction fees and doesn't come with a traditional welcome offer. Terms apply.

Larger Sign-up bonus

The Ink Business Unlimited℠ Credit Card checks many of the same boxes as the Capital One® Spark® Cash Select for Business: a $0 annual fee, unlimited 1.5% cash back on all purchases, a 0% intro APR period and a welcome offer. Compared to the Capital One® Spark® Cash Select for Business, though, it comes with a much larger sign-up bonus: Earn $500 bonus cash back after you spend $3,000 on purchases in the first 3 months from account opening. It also comes with a longer 0% APR period: 0% intro APR on Purchases for 12 months, and then the ongoing APR of 13.24% - 19.24% Variable APR. The card does charge a 3% foreign transaction fee, however, so it's not a good choice for international purchases.

You could also consider the Discover it® Business Card. It, too, earns 1.5% cash back on all purchases, has an annual fee of $0 and doesn't charge foreign transaction fees. But it features a unique and potentially lucrative bonus, which Discover phrases this way: "Get an unlimited dollar-for-dollar match of all the cash back you earn at the end of your first year, automatically. And no limit to how much we’ll match. So you could turn $350 cash back into $700 with Cashback Match™." Plus, you'll get a longer 0% intro APR period: 0% on Purchases for 12 Months, and then the ongoing APR of 14.49% - 22.49% Variable APR.

Is the Capital One® Spark® Cash Select for Business right for you?

The Capital One® Spark® Cash Select for Business is an easy choice for small-business owners who want simple cash-back rewards, no foreign transaction fees and an annual fee of $0. If foreign transaction fees aren’t a dealbreaker for you, though, you'd be better off with a different, more rewarding card.

To view rates and fees of the American Express Blue Business Cash™ Card, please visit this page.

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