Capital One Spark Cash Plus - $2,000 cash back once you spend $30,000 in the first 3 months. Earn an additional $2,000 cash bonus for every $500K spent during the first year

Overview of the Capital One Spark Cash Plus

The Capital One Spark Cash Plus is a robust business credit card designed for companies looking to maximize their cash back rewards. With a focus on flexibility and high cash back potential, this card caters to businesses that spend significantly throughout the year. The card comes with a $150 annual fee but offers substantial rewards for eligible spending, making it an attractive option for those who can leverage its benefits effectively.

Pros

One of the standout features of the Capital One Spark Cash Plus is the generous cash bonuses. New cardholders can earn a one-time cash bonus of $2,000 after spending $30,000 within the first three months. Additionally, for every $500,000 spent during the first year, cardholders can earn an extra $2,000 cash bonus, which can be earned multiple times. This structure is incredibly beneficial for businesses with high spending needs.

The card offers unlimited 2% cash back on all purchases, with no limits or category restrictions, allowing businesses to earn rewards on every dollar spent. Furthermore, cardholders can earn a remarkable 5% cash back on hotels and rental cars booked through Capital One's travel booking site, enhancing the rewards for business travel.

Another significant advantage is the card's lack of a preset spending limit, which provides businesses with the purchasing power they need based on their spending behavior and credit profile. This feature is especially useful for companies that may have fluctuating expenses. Additionally, the card facilitates team purchases by allowing free employee and virtual cards, streamlining expenses and enhancing transaction tracking through automatic syncing with accounting software.

Lastly, while there is a $150 annual fee, businesses that spend $150,000 annually can have this fee refunded, making it a potentially cost-effective option for high-spending businesses.

Cons

Despite its many advantages, the Capital One Spark Cash Plus does come with a few drawbacks. The $150 annual fee may be a consideration for smaller businesses or those with lower spending, especially if they are unable to reach the spending threshold to have the fee refunded.

Additionally, the requirement to pay the balance in full each month might pose a challenge for some businesses that rely on credit for cash flow management. While this ensures that cardholders avoid interest charges, it may not be ideal for companies that need more flexibility with their payments.

Furthermore, while the card offers significant cash back rewards, businesses that do not typically spend at the higher levels required to earn the maximum bonuses may find it less beneficial. The structure of the rewards may not appeal to all business types, particularly those with lower annual expenses.

Why We Like This Card

• Strong cash back rewards with 2% on all purchases and 5% on travel bookings.
• Attractive bonuses for high spenders, with the potential to earn significant cash back.
• No preset spending limit enhances purchasing power for growing businesses.
• Team purchasing capabilities and seamless integration with accounting software.
• Annual fee can be offset with high spending, making it a viable option for larger businesses.

Overall, the Capital One Spark Cash Plus stands out for businesses that can leverage its features effectively, particularly those with high spending and travel needs. The potential for substantial cash back rewards, combined with the flexibility of the card, makes it a strong contender in the business credit card market.