Capital One Spark Cash Select - $500 Cash Bonus Review
When your business expenses don't always fit neatly into categories, such as office supplies or restaurants, a flat-rate cash-back card helps cover all your bases. With the Capital One Spark Cash Select - $500 Cash Bonus business credit card, you don't have to worry about missing out on cash-back earnings each time you spend.
What You Get
The Capital One Spark Cash Select offers unlimited 1.5% cash back on every purchase — for no annual fee. New cardholders can earn a generous $500 bonus when you spend $4,500 in the first three months of opening your account.
As a nice perk for travelers, hotels and rental cars booked through Capital One Travel earn an unlimited 5% cash back when using your Spark Cash Select card. All cash back earned has no expiration date as long as the account is open. The card also has zero foreign transaction fees, which means you won’t have to worry about any surcharges added to purchases made while outside the U.S.
Cap One provides additional employee cards at no cost, and those cards also earn an unlimited 1.5% cash back. The Spark Cash Select card comes with $0 fraud liability if your card (or an employee’s) is lost or stolen, so you’re protected from unauthorized, fraudulent purchases.
You’ll have access to a variety of business tools: keep track of recurring transactions with a list of merchants that charge your business monthly, such as subscriptions and bills; securely upload your purchase records to platforms like Quickbooks, Concur Expense and Expensify; and get an itemized report of your spending to simplify budgeting and tax time with Cap One’s year-end summary. Business owners will also like that you can pick your own monthly due date.
The Spark Cash Select card also provides a free additional warranty and protection on eligible items purchased on the card and access to Cap One’s roadside assistance services to help you during auto-related emergencies, such as jump-starting, tire changing and towing.
What You Don’t Get
Unlike some of the more premium business cards, the Capital One Spark Cash Select card lacks travel perks like a statement credit for Global Entry or TSA PreCheck, and the card won’t get you complimentary access to any airport lounges.
While new cardholders can earn a $500 sign-up bonus with the card, it does not offer an introductory rate on purchases or balance transfers. Business owners looking for an intro offer might consider the Capital One Spark Cash Select - 0% Intro APR for 12 Months business card, which otherwise offers similar benefits for no annual fee (after 12 months, a variable rate of 20.24% to 28.24% applies).
With no annual fee and no cash-back categories to keep track of, the Capital One Spark Cash Select - $500 Cash Bonus card simplifies business spending and earns you 1.5% cash back on every purchase — with no limit on spending.
Frequently Asked Questions (FAQ) About the Capital One Spark Cash Select
What Score Do You Need for a Capital One Business Credit Card?
Approval for the Capital One Spark Cash Select - $500 Cash Bonus card requires excellent credit, which FICO generally defines as 800 and up. Capital One considers excellent credit as meeting the following criteria (along with factors included in the card’s application disclosure): has never declared bankruptcy or defaulted on a loan; haven’t been more than 60 days late on any credit card, medical bill or loan in the last year; has had a loan or credit card for three years or more with a credit limit above $5,000.
Do Capital One Business Cards Require a Hard Pull?
When you apply for a Capital One credit card, the issuer will conduct a “hard” credit check, also known as a hard inquiry or hard pull, in order to review your full credit report. Hard inquiries can impact your credit score but generally only by a few points, according to FICO.
Capital One offers pre-approval for many of their consumer cards — which only requires a soft inquiry and does not impact your credit score — but this feature is not yet available to applicants of business cards.
How Long Does It Take to Get Approved for a Capital One Business Credit Card?
Capital One will take a few minutes to a few days to review your business credit card application. Once you’re approved, your Spark Cash Select card will arrive in the mail in 7-14 business days.
Editorial Note: Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.