Credit cards are valuable for helping small business owners manage their finances effectively. The right card can also help you earn rewards that you can use to offset your business expenses, whether they be office supplies or business travel. If you’re looking to add a new small business card to your wallet, the card_name card is an option worth considering.
Capital One Spark Cash Plus
Credit score
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Here’s what you need to know about the card_name card, its pros and cons, who it’s best for, and more.
TIME’s Take
The card_name is a solid choice for certain small business owners, though it isn’t right for everyone. As a cardholder, you can earn unlimited 5% cash back on rental cars and hotels booked through Capital One Travel and 2% back on everything else. The card also comes with a lucrative welcome offer and other perks.
That said, it’s a charge card, which means you’ll need to repay your balance in full each month. If you occasionally experience cash-flow hiccups, this could be difficult. Cardholders also pay a annual_fees annual fee.
Pros & cons
Pros:
- No caps on cash back earnings
- Choose your monthly payment date
- No foreign transaction fees
- Extended warranty protection
Cons:
- High annual fee
- Card must be paid off in full monthly
- Excellent credit required for approval
Who is the card for?
The card_name is ideal for small business owners with a fair amount of monthly expenses who want a credit card with a simple rewards structure and no rewards caps. With no preset spending limit, the card’s flexibility can be useful if your monthly business expenses tend to fluctuate.
But since it’s a charge card, it’s only a good option for those who can pay off their balance in full each month.
This card offers limited travel benefits, including no foreign transaction fees, roadside assistance coverage, and the option to redeem rewards through Capital One Travel. However, frequent travelers will benefit more from a dedicated travel rewards credit card that offers trip protections.
Capital One indicates that you’ll need excellent credit to qualify for the Spark Cash Plus, so those working on improving their credit will likely need to consider another business card.
Features
With the card_name, you can enjoy the following features and benefits.
Rewards
As a cardmember, you’ll earn 5% unlimited cash back when you reserve hotels or rental cars through Capital One Travel and 2% unlimited cash back on everything else. While the card has a tiered rewards structure, it’s very simple and straightforward. You can use your cashback rewards for statement credits, gift cards, and travel purchases through Capital One Travel.
Welcome offer
For a limited time, bonus_miles bonus after spending $20,000 in the first three months and an additional $1,500 once you spend $100,000 in the first 6 months.
Fraud protection
You won’t be liable for unauthorized charges if your card is lost or stolen. Capital One will also send an replacement card quickly and provide you with a cash advance if you need one.
Account management
The card_name comes with several useful account management tools, including the option to select your payment due date and set spending limits for its free employee cards—and the ability to download year-end summaries and your purchase history into Quicken, Excel, and QuickBooks.
The fine print
- Annual fee: annual_fees
- Cash advance fee: cash_advance_fee
- Late payment fee: late_payment_fee
Additional hidden perks
This card also comes with some lesser-known benefits that may appeal to small business owners.
Annual fee credit
If you spend $150,000 on your card in a given year, you’ll receive a annual_fees statement credit to offset the annual fee.
Extended warranty protection
When you make an eligible purchase with your card, you’ll get protection beyond what your standard manufacturer’s warranty provides. Capital One doesn’t disclose how much additional time it adds to a standard warranty, however.
Security features
Besides zero liability fraud protection, you can get fraud and security alerts via email and text with your card.
What could be improved
The card_name has some valuable features and benefits for cardholders, but it also has a few drawbacks. It comes with a annual_fees annual fee, which isn’t too high compared to some premium small business business cards on the market. But if you prefer to avoid an annual fee altogether, this card probably isn’t the best choice.
It’s also not a great option for small business owners with low monthly expenses. You’ll need to spend a fairly significant sum—$20,000 in three months—to earn the welcome bonus, and $150,000 or more in a year to earn a annual_fees statement credit. And since it’s a charge card, it’s not a good choice if you can’t afford to repay your full balance each month.
Card alternatives
Bottom line
The card_name could be a great choice if you’re a business owner with excellent credit who can afford to repay their monthly balance in full. It offers a no-fuss, generous rewards structure and a hefty bonus_miles welcome bonus.
But if you travel often for business or your monthly expenses are fairly low, this probably isn’t the card for you. You won’t get many travel perks, and the welcome offer minimum spend of $20,000 is likely beyond your reach.
Capital One Spark Cash Plus
Credit score
credit_score_needed
Frequently asked questions (FAQs)
What is the credit limit for card_name?
There’s no preset credit limit for the Capital One Spark Cash Plus card. However, this card is a charge card and must be paid in full each month.
What credit score do you need for Spark Cash Plus?
Capital One indicates you’ll need excellent credit to be approved for the Spark Cash Plus Card.
What is card_name?
Capital One Spark Cash refers to the rewards you’ll earn by spending with an eligible Capital One credit card. With the Capital One Spark Cash Plus, you’ll earn unlimited 5% back on hotel and rental car purchases made through Capital One Travel and 2% back on everything else.
The information presented here is created independently from the TIME editorial staff. To learn more, see our About page.