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Capital One Spark Cash for Business – Will It Light Your Fire?

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The Capital One Spark Cash for Business rewards Visa is an excellent business credit card option for accruing long-term rewards. It has low costs and JD Power certified customer support for small business. It’s a 2% cash rewards card that will be a good value for the long haul. The introductory offer is tame by current standards but it has no limits for collecting rewards on purchases and very few limits on the terms and rates. That means that you will be getting good rewards on this card long after many of the more spectacular competing offers have faded out.

The Capital One Spark Cash for Business Rewards And Benefits

Basic Benefits

  • Earn 2% cash back on all of your purchases
  • Low threshold one-time bonus of $100 once you’ve made $1,000 of purchases within the first three months
  • Order an employee card with no signup fee and get a one-time $50 cash back bonus
  • J D Powers recognized customer service

The Capital One Spark Cash for Business Rewards Visa Card is a very simple card to understand. It pays cash rewards and not much else. However, the cash back is generous with no expiry date and you can claim it whenever you choose. You can even set up a schedule to redeem your points automatically. Cash back at 2% reward is high by current standards and, combined with the low fees, it might just be an alternative to a business charge card, if you consistently pay off your balance in full each month.

Visa Business Benefits

Because it’s a Visa Card you get all of the business card perks of the network. These aren’t unique to this card but it’s worth noting them as a feature that complements the rewards given by the Capital One Spark Cash for Business.

  • Zero fraud liability for lost or stolen cards
  • Purchase protection for 90 days
  • Rental car collision damage waiver program
  • Travel and emergency assistance

Interest Rates

The Capital One Spark Cash for Business has a competitive variable APR, if you carry a balance, of between 13.9% and 20.9%, which is based on your credit score. This rate applies to purchases and the balance transfer rate is at a similar APR.

Fees Charged

  • If you take a cash advance or if you’re late on your payments your APR will be higher, up to 29.4%
  • The annual fee is at an introductory rate of 0% for the first year and then at $59 per year after that
  • Penalty fees for late payment are listed at $39
  • The rewards and benefits of this card are that simple

The customer that this would suit is the business owner or manager, who has to make purchases for their business and can claim expenses monthly. If you’re a frequent traveler, you’ll perhaps find better offers to support your activities. However, with this card you do get the Visa benefits if you do need to use it for travel occasionally.

From the beginning the 2% cash back rewards accrue until you redeem them, without expiring. If you spend $1,000 in three months you’ve earned enough to justify the card’s low annual fee for almost the next two years because you then qualify for the $100 bonus. So, if you extrapolate that level of spending to a full year it means you would be spending $4,000 to earn $80 in rewards per year as well. Over time the annual fee pays for itself with the first $2,950 you spend on it each year.

Service Advantage

With alternative cards having lower rewards and higher thresholds for bonus payment mean this is great for the small business with modest spending needs. Even if other cards have enticing introductory offers you are still going to do better in the long run with the Capital One Spark Cash for Business. The more you have to use it the better the advantage.

As long as you remain in good standing and pay off your balance there are no additional fees or charges. It should be noted that rewards only accrue on purchases, not transfers and cash advances. You take your rewards as either a statement credit or as a check. Capital One Spark Cash for Business also provides an itemized end of year report on spending to help you budgeting and tax preparations.

Customer service for the Capital One Spark Cash for Business Rewards Visa Card has been certified by JD Powers for customer service. At first glance it looks like they have won awards. A careful read of the statement is that they have achieved certification. A slight difference but still a good sign that they are working to the benchmarks consistently enough to be certified by JD Powers, apparently that is at least good if not the best. The do promote their customer service as being VIP treatment for customers and that representatives are available 24 hours a day.

Do Sparks Fly in The Reviews?

The Capital One Spark Cash for Business Visa Card offers straight forward cash back card with generous rewards. It works out as a great long-term deal for loyal customers. Out of 158 reviews of the card on CardHub.com 127 are 4 stars out of 5, for an average of 3.9. Usually, the first thing reviewers will address is any issue with customer service but there are no reviews that specifically make any negative remarks about the card. That appears to agree with their claims of being recognized for customer service.

This is a good long-term financial tool for the small business owner. There aren’t any spectacular introductory offers or gimmicks but what you start with is what you get for the long haul. The introductory bonus is modest at $100 but easy to achieve. The open ended 2% cash rewards quickly pay for the annual fee after the first year. If you are making business purchases the rewards will accumulate steadily and they are there as long as you hold the card.

According to the CreditKarma.com review for Capital One Spark Cash for Business you need to have excellent credit to qualify. That is the only real catch. If you qualify for this one then you will probably qualify for most cards. The deciding factor will be whether this is the right card for you.

There are no spectacular introductory offers for Capital One Spark Cash for Business and only modest bonus payments. That has to be balanced against the open-ended rewards offered here. It is a prime candidate for the business user who wants to have a card in their wallet that earns great rewards for the long-term. Although 2% doesn’t sound like a large reward it is twice what you can expect on most other business rewards cards. If you are going to use a card to make business purchases for the long term the Capital One Spark Cash for Business Rewards Card might just be the perfect card for you.

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