Capital One Spark Cash Plus: Easy-to-Manage Cash Back

Capital One Spark Cash Plus offers 2% cash back on all purchases, but you can’t carry a balance.
Rosalie MurphySep 3, 2021

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Our Take

4.7

NerdWallet rating 
Capital One Spark Cash Plus

on Capital One's website

Annual fee

$150

Regular APR

N/A

Intro APR

N/A

Recommended Credit Score

Quick Facts

Pros & Cons

Pros

  • Earns cash back on primary and employee cards
  • Rewards don’t expire
  • No foreign transaction fees

Cons

  • Balance must be paid in full every month
  • Has annual fee

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Full Review

The Capital One Spark Cash Plus card pays 2% cash back on all purchases. This simple approach — no rotating bonus categories to keep track of or spending caps to monitor — makes it easy to earn rewards without having to think too much about it.

If you’re a longtime Capital One customer, note that this business credit card effectively replaces the Capital One Spark Cash for Business. The Capital One Spark Cash Plus comes with a higher annual fee than its predecessor: $150 instead of $0 intro for the first year, then $95. But if you spend more than $7,500 on the card in a year, the cash-back reward will offset the annual fee.

The Capital One Spark Cash Plus is also a charge card, not a credit card — another notable difference from the Capital One Spark Cash for Business. With a charge card, your balance is due in full every month. Late payments carry a 2.99% fee. Unlike a credit card, there is no option to make a minimum payment and carry the rest as a balance: You’re either on time or you’re late. Late payments could result in dings to your personal and business credit scores.

The Capital One Spark Cash Plus has no preset spending limit, which is not the same thing as no limit. The spending limit varies depending on each cardholder’s payment history, credit profile and spending behavior.

Capital One Spark Cash Plus: Basics

  • Card type: Small business.

  • Annual fee: $150.

  • Sign-up bonus: Earn up to a $1,000 cash bonus; $500 once you spend $5,000 in the first 3 months, and $500 once you spend $50,000 in the first 6 months of account opening.

  • Annual bonus: $200 when you spend $200,000 or more in a year.

  • Ongoing rewards: Earn unlimited 2% cash back on every purchase, everywhere—with no limits or category restrictions

  • Interest rate: No APR. The balance is due in full every month, so interest can’t accrue.

  • Foreign transaction fees: None.

  • Other benefits:

    • Rewards won’t expire for the life of the account.

    • No preset spending limit.

    • (Benefits may change over time.)

Why you might want the Capital One Spark Cash Plus

Generous, easy-to-manage rewards

Business credit cards often pay a flat cash-back rewards rate on most items plus a higher rate for purchases in certain categories, like gas or office supplies. The Capital One Spark Cash Plus offers 2% cash back on every purchase instead. If you don’t want to keep track of a card’s spending categories or if your business expenses don’t conveniently fall into those categories, then this card might be a good fit.

Further, unlike other cash-back business credit cards such as the American Express Blue Business Cash™ Card, your reward rate doesn’t change no matter how much you spend on the Capital One Spark Cash Plus. If you put major purchases on your card regularly, you could earn hundreds or thousands of dollars in rewards each year. Just make sure to pay off the card in full each month.

Multiple bonuses

The Capital One Spark Cash Plus essentially offers a double sign-up bonus: Earn up to a $1,000 cash bonus; $500 once you spend $5,000 in the first 3 months, and $500 once you spend $50,000 in the first 6 months of account opening. That potential total easily outpaces the card's annual fee of $150.

But you can offset that fee even after the welcome bonus period elapses, with an annual bonus from Capital One. The Capital One Spark Cash Plus offers $200 to cardholders who spend $200,000 or more in a year. If you're planning to spend big, that bonus plus the rewards rate may make the Capital One Spark Cash Plus a smart choice.

No foreign transaction fees

The Capital One Spark Cash Plus doesn't charge foreign transaction fees. Usually, credit card foreign transaction fees are around 3%, which can add up if you travel internationally or make purchases from overseas suppliers.

How it compares with other Spark cards

The Capital One Spark Cash Plus is one of several Capital One business credit cards.

Other cards in the Spark family include:

Capital One doesn't charge foreign transaction fees on any of its credit cards. For more details, see NerdWallet's comparison of Capital One Spark cards.

Capital One Spark Cash Plus, annual fee of $150.

Sign-up bonus: Earn up to a $1,000 cash bonus; $500 once you spend $5,000 in the first 3 months, and $500 once you spend $50,000 in the first 6 months of account opening.

Rewards: 2% cash back on all purchases.

Sign-up bonus: Earn a $500 bonus when you spend $4,500 in the first 3 months of account opening.

Rewards: 1.5% cash back on all purchases.

Sign-up bonus: N/A.

Rewards: 1.5% cash back on all purchases.

Sign-up bonus: N/A.

Rewards: 1% cash back on all purchases.

Capital One Spark Miles for Business, annual fee of $0 intro for the first year, then $95.

Sign-up bonus: Earn a one-time bonus of 50,000 miles – equal to $500 in travel – once you spend $4,500 on purchases within the first 3 months from account opening.

Rewards: 2 miles per dollar spent on all purchases.

Sign-up bonus: Earn a one-time bonus of 20,000 miles - equal to $200 in travel - once you spend $3,000 on purchases within the first 3 months from account opening.

Rewards: 1.5 miles per dollar spent on all purchases.

Why you might want a different card

Charge card vs. credit card

The Capital One Spark Cash Plus is a charge card. Instead of making a partial payment and carrying the rest of what you owe as a balance, you’ll have to pay off your balance each month or risk late fees — and possibly late payments noted on your credit report.

If your business cash flow is robust, that might not be a problem. But if you tend to carry a balance on your business credit card during leaner months, other options may be better for protecting your credit, even if you accrue some interest.

If you're comfortable with a charge card, you may also want to consider the Brex Card. That card requires applicants to have at least $50,000 in the bank at all times to demonstrate their ability to pay, but it has no annual fee and doesn't require a personal guarantee.

No introductory offer

Because you can’t carry a balance on the Capital One Spark Cash Plus, there is no introductory offer of a 0% intro APR period. If you’re hoping to use a new credit card to make a big purchase and then pay it off over several months, consider other options — like the Ink Business Unlimited® Credit Card or the American Express Blue Business Cash™ Card, which both offer 0% intro APR on purchases for the first 12 months.

Is the Capital One Spark Cash Plus right for you?

As your business expenses grow, so do the rewards you could earn from the Capital One Spark Cash Plus. If you appreciate the simplicity of no rewards categories and have international suppliers or travel expenses, this card could generate significant cash back for your business over time, outweighing its annual fee.

That said, if your business has unreliable cash flow or if you’re worried about potential dings to your credit score, a traditional business credit card might be a better fit than a charge card.