Link: Apply now for the Capital One Spark Cash Select
The Capital One Spark Cash Select is arguably Capital One’s best no-annual-fee business credit card. While it’s not a card super credit card users should consider, the card offers value with the right type of consumer. In this article, I wanted to take a closer look at everything you need to know about this card.
Capital One Spark Cash Select Basics for May 2022
While you’ll find more comprehensive business credit cards, the Capital One Spark Cash Select is a pretty solid option with no annual fee. The card offers a huge welcome bonus, no foreign transaction fees, and a pretty decent return on daily spending.
Spark Cash Select $500 Cash Back Bonus
The Capital One Spark Cash Select offers new cardholders a $500 cash bonus after spending $4,500 within the first three months of account opening. It’s a great bonus for a card with no annual fee, and it’s also a better bonus than what we’ve seen on the card in the past.
Spark Cash Select Eligibility Requirements
You are eligible for the welcome bonus on Capital One Spark Cash Select if you have not had this specific card before. You are eligible for the card (including the bonus) if you have had another Capital One Spark product in the past.
Capital One has few other consistent restrictions when it comes to getting approved for cards.
Spark Cash Select $0 Annual Fee
The Capital One Spark Cash Select has no annual fee, so it’s pretty awesome to have a rewards card that has no annual fee. You can also add additional users to the card at no additional cost.
Spark Cash Select 1.5% Cash Back
Capital One Spark Cash Select offers 1.5% cash back on every purchase, everywhere, with no limits or category restrictions. Now, let me note that among cash back cards, I generally consider 2% cash back to be the gold standard. However, there are limited card options with no annual fees or foreign transaction fees, while offering an otherwise solid return.
Spark Cash Select No foreign transaction fees
Capital One Spark Cash Select has no foreign transaction fees, and I think that’s worth pointing out. Most cash back business cards with no annual fee have a foreign transaction fee, which sets the card apart. Other cards sometimes have foreign transaction fees of 3% or more, quickly eliminating any rewards you would have otherwise earned.
Convert Cash Back to Capital One Miles
There’s an interesting twist to Capital One Spark Cash Select, for those looking to earn travel rewards rather than cash back:
This is quite an exciting opportunity, as it means this no-annual-fee card also potentially earns 1.5x the transferable points with no foreign transaction fees.
Is Capital One Spark Cash Select worth it?
The Capital One Spark Cash Select is a great card for a certain type of business, but it’s not for everyone.
If you have a small business and don’t want to pay an annual fee for a card, don’t spend as much on cards, and/or make frequent international purchases, then Spark Cash Select is a great option. You won’t find a more rewarding card with no annual fee and no foreign transaction fees.
Likewise, if you have another Capital One card that earns Venture or Spark miles, some might appreciate the opportunity to really earn 1.5 times the miles per dollar spent on a card with no annual fee with no foreign transaction fees. .
Who shouldn’t consider Capital One Spark Cash Select? Well, if your business spends big bucks or you’re happy to pay annual fees for big rewards, there are definitely other cards to consider. Let’s discuss some of these options.
Tip: Ask for Capital One Spark Cash Plus
If you like the general idea of the Capital One Spark Cash Select, but want a slightly more rewarding card, consider the Capital One Spark Cash Plus (balance) instead:
- The card has an annual fee of $150
- Card offers 2% cash back on all purchases, 0.5% more than Spark Cash Select
- The card also has no foreign transaction fees
- The card offers an annual cash bonus of $200 if you spend $200,000 or more on the card in an anniversary year, recouping more than the annual fee.
- The card offers a much bigger bonus, up to $1,000 cashback
If you spend a lot on business cards and want to earn cashback, then the Capital One Spark Cash Plus is the obvious choice. It’s a card that I have, and on which I put most of my business expenses.
Best Alternative Business Cards with No Annual Fee
If you really want to stick with a business card with no annual fee, there are two other cards worth considering:
The problem? As you can see, the generous rewards are capped at the first $50,000 spent each calendar year. On top of that, the cards have foreign transaction fees, so they are only worth using for USD purchases.
The Capital One Spark Cash Select is a no-annual-fee business card worth knowing about. The card offers 1.5% cash back on all purchases with no foreign transaction fees, and the card also offers a generous welcome bonus. If you have the card in conjunction with something like Capital One Venture X, the rewards can also potentially be converted into miles.
Personally, I still prefer the Capital One Spark Cash Plus. Although it has an annual fee of $150, the card offers 2% cash back on all purchases, even bigger bonuses and potential spending bonuses as well. It’s an unbeatable cash back business card.
If you want to know more about the Capital One Spark Cash Select or if you want to apply, follow this link.
The following links will direct you to the rates and fees for the American Express cards mentioned. These include: The Blue Business® Plus credit card from American Express (Rates and Fees) and American Express® Blue Business Cash Card (Rates and Fees).