Capital One Spark Cash Plus Review 2023

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The Capital One Spark Money Plus is nice for a small-business proprietor who does not wish to spend time interested by which bank card to make use of for every separate transaction, and prefers a one measurement matches all resolution that also earns beneficial rewards. But when your online business bills aren’t substantial, it is troublesome to get worth from this card.

Capital One Spark Money Plus Evaluate: Is It the Greatest Card for You?

One of many issues that make Capital One playing cards just like the Capital One Spark Money Plus so interesting is how easy they’re to make use of. You will earn 5% money again on accommodations and rental automobiles booked by way of Capital One Journey and a flat 2% money again on all different purchases, with no caps or limits to remember.

The Capital One Spark Money Plus has an annual charge of $150, however you may simply make that up with the welcome bonus provide of $1,200 money bonus after spending $30,000 within the first three months from account opening. That is a major spending requirement, which makes the cardboard finest suited to high-spending companies.

As with all card that prices an annual charge, it’s best to analyze your spending patterns and ensure you’ll earn sufficient in rewards to offset that price. After the primary yr (factoring within the large welcome bonus provide), you’d must spend a minimum of $7,500 yearly on the Capital One Spark Money Plus to interrupt even with the $150 annual charge, given the two% incomes price on most purchases.

Nevertheless, in the event you spend a minimum of $150,000 on purchases in an anniversary yr, you may obtain an announcement credit score of $150 to offset the annual charge (plus a minimum of $3,000 in money again from spending $150,000). Once more, that is an enormous spending requirement, but when your online business can help it, the cardboard’s flexibility and rewards might make it worthwhile.

Talking of flexibility, whilst you can take your rewards as money again, you can even convert them to miles to switch to airways so long as you maintain a miles-earning card just like the Capital One Enterprise X Rewards Credit score Card, Capital One Enterprise Rewards Credit score Card, or Capital One Spark Miles for Enterprise
. This can be a wonderful means to assist cowl enterprise journey bills or reward your staff with a well-deserved getaway.

The Capital One Spark Money Plus can also be fascinating as a result of it is a cost card, which implies that it does not have a preset spending restrict however you do must pay your assertion steadiness in full every month (which hopefully you are doing anyway, as bank card curiosity will shortly erase the worth of any rewards you are incomes). That is enticing for companies with giant and typically unpredictable bills, and since cost playing cards are barely rarer available on the market this can be a compelling choice to think about.

Lastly, you would possibly wish to contemplate including this card to your pockets if you have already got a Capital One Enterprise X Rewards Credit score Card, Capital One Enterprise Rewards Credit score Card, or Capital One Spark Miles for Enterprise, and are interested by redeeming your rewards for journey as a substitute of money again. All 4 playing cards provide practically equivalent incomes charges of two% money again or 2 miles per greenback on most purchases, so the most probably pairing right here can be a private Capital One Enterprise Rewards Credit score Card and a enterprise Capital One Spark Money Plus.

After all, if your online business is simply getting began or does not have giant bills, chances are you’ll discover that this card is not for you. That is very true in the event you’re unlikely to earn the $150 annual credit score for spending over $150,000 and would battle to fulfill the minimal spending requirement to earn the complete welcome bonus provide.

You additionally may not want this card if you have already got the Capital One Spark Miles for Enterprise, or one other card just like the Ink Enterprise Most popular® Credit score Card or The Blue Enterprise® Plus Credit score Card from American Specific to earn transferable factors at a set price with out such a excessive annual charge.

We’re centered right here on the rewards and perks that include every card. These playing cards will not be price it in the event you’re paying curiosity or late charges. When utilizing a bank card, it is essential to pay your steadiness in full every month, make funds on time, and solely spend what you may afford to pay.

Capital One Spark Money Plus Rewards

Welcome bonus provide

The Capital One Spark Money Plus has one of many highest welcome bonus affords of any small-business card, but it surely’s additionally bought an enormous minimal spending requirement. New cardholders can earn $1,200 money bonus after spending $30,000 within the first three months from account opening.

How you can earn rewards 

The Capital One Spark Money Plus has a simple incomes construction with few bonus classes to maintain monitor of. You will earn 5% money again on accommodations and rental automobiles booked by way of Capital One Journey, and a pair of% money again on all different eligible purchases with no limits.

How you can use rewards

There are three choices for redeeming the rewards out of your Capital One Spark Money Plus: You may select to take them as money again, which might be a good way to spice up your online business’s backside line. For those who go this route you may redeem your rewards for a test or assertion credit score, with no minimal quantity required for redemption. 

You can even redeem your rewards to ebook journey by way of the Capital One journey portal, which, though straightforward, is not an excellent redemption methodology. You’d do higher in the event you use your card to pay in your journey to earn money again, then money in your rewards for an announcement credit score to offset the acquisition.

Nevertheless, in the event you even have a Capital One card that earns miles, such because the Capital One Enterprise X Rewards Credit score Card, Capital One Enterprise Rewards Credit score Card, or Capital One Spark Miles for Enterprise card, you may select to transform your rewards into airline miles as properly. Merely log in to the Capital One web site and use the “transfer rewards” function to maneuver money again out of your Capital One Spark Money Plus to both the Enterprise or Spark Miles. From there, you may switch to Capital One’s airline and resort companions, most at a 1:1 ratio.

Capital One Spark Money Plus Advantages and Options

Whereas Capital One is all about simplicity, there are a number of nice advantages to the Capital One Spark Money Plus Card. Listed here are a number of of the highlights: 

$150 annual money bonus

Yearly you spend $150,000 or extra in your card, you may earn a $150 money bonus, which fully pays off your annual charge.

Cost card

The truth that the Capital One Spark Money Plus is a cost card with no preset spending restrict could be a enormous asset to some companies. If your organization has a seasonal ramp-up in bills, this spending flexibility can allow you to maintain utilizing your card with out risking a decline. 

Journey and buy protections

The Capital One Spark Money Plus affords an prolonged guarantee on eligible objects bought together with your card. For those who’re touring, you may reap the benefits of automotive rental insurance coverage, roadside help, and a journey emergency help line.

Free worker playing cards

Capital One will allow you to add free worker playing cards and even generate digital card numbers, providing you with extra management in managing your organization’s bills.

Capital One Spark Money Plus Annual Charge and Different Prices

The Capital One Spark Money Plus has a $150 annual charge, however — like different Capital One playing cards —  it does not add international transaction charges, so it is a good selection for worldwide purchases.

As a result of it is a cost card, you will not pay curiosity since you should pay your steadiness in full every month. For those who do not make your full cost, you may be charged a late charge of two.99% in your excellent assertion steadiness (and your account might be thought-about overdue till you pay in full). 

Stability transfers aren’t allowed on the Capital One Spark Money Plus, however money advances could also be accessible in restricted circumstances (see your Information to Advantages for extra particulars).

How the Capital One Spark Money Plus Compares

Capital One Spark Money Plus vs different Capital One playing cards

The Capital One Spark Money Plus is not the one enterprise card that earns beneficial rewards at a aggressive mounted price, however one factor instantly units it aside from the competitors: a a lot larger annual charge.

Capital One Spark Money Plus vs different small-business playing cards

Capital One Spark Money Plus Card Ceaselessly Requested Questions (FAQ)

Methodology: How We Reviewed the Capital One Spark Money Plus

Insider’s bank card staff evaluated the Capital One Spark Money Plus compared to different rewards enterprise playing cards and cash-back enterprise playing cards. We checked out a number of components, together with:

• Simplicity — Does the cardboard make it straightforward to earn and redeem rewards? Are there difficult guidelines or hoops to leap by way of?
• Incomes potential — Is there a considerable welcome bonus provide, particularly in comparison with related playing cards? If there are bonus classes, are they helpful for small-business house owners?
• Advantages — Are there advantages that may save enterprise house owners cash or make protecting monitor of funds simpler?
• Charges — Is there an annual charge or different charges to think about? Is it price paying for the rewards and advantages you obtain?

For a deeper dive into our methodology, examine how we price bank cards at Insider.