Capital One Spark Cash Plus review: Solid 2% cash-back on all business expenses

Capital One Spark Cash Plus card overview

With a $150 annual fee, the Capital One Spark Cash Plus (see rates and fees) card offers 2% cash back on all purchases, with no cap on how many cash-back rewards you earn. In essence, the more you spend, the more you'll earn, whether you're buying office supplies or business dinners. Card rating*: ⭐⭐⭐½

* Card rating is based on the opinion of TPG's editors and is not influenced by the card issuer.

The Spark Cash Plus is an improved version of the discontinued Spark Cash for Business, although it features a higher $150 annual fee (see rates and fees). To compensate, the Spark Cash Plus features a much higher sign-up bonus and the opportunity to get your annual fee refunded.

The Spark Cash Plus is slightly different from a traditional credit card in that you have to pay the balance off in full every month. The main difference is that there's no preset spending limit, so this is a good thing for business owners with many expenses who need to go above their credit limit.

TPG recommends a credit score of 740 or higher, but you may be able to get approved with a lower score.

Let's dive in to see if this card is for you.

Spark Cash Plus pros and cons

Spark Cash Plus Welcome offer

The Spark Cash Plus is currently offering new applicants a best-ever welcome bonus of $2,000 cash back after they spend $30,000 in the first three months. Plus, you can earn an additional $2,000 cash bonus for every $500,000 spent during the first year.

If your business has high annual spending and you can meet the minimum spending requirement, this welcome offer can be very lucrative. It gives you the flexibility of earning cash back and the ability to earn essentially unlimited cash bonuses in the first year.

Related: Best business cash back cards

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Spark Cash Plus benefits

The Spark Cash Plus is a card with no preset spending limit, so it's flexible and can adapt to your needs based on your spending behavior, payment history, and credit history. Another aspect to note about charge cards is that there's no annual percentage rate since your balance is due in full every month (see rates and fees).

If your business has many operating expenses, the Spark Cash Plus rewards you with a refund of your $150 annual fee every year you spend $150,000 or more. Still, that's a huge amount of money to spend just for a $150 benefit.

As with all Capital One credit cards, you'll enjoy no foreign transaction fees when you purchase abroad (see rates and fees).

Finally, you can request employee cards at no additional cost (see rates and fees) that funnel into your account as the primary cardholder.

Related: How to apply for a Capital One business credit card

Earning cash back on the Spark Cash Plus

The biggest draw of the Capital One Spark Cash Plus is its flat earning rate. You'll earn an unlimited 2% cash back on every purchase, everywhere — with no limits or category restrictions.

Depending on the type of card user you are, you may see this as a positive or a negative. But this is definitely a positive for those who want to maximize their business expenses without worrying if a purchase falls under a bonus category, as seen with many other business credit cards.

Related: How to convert Capital One cash back into miles

Which cards compete with the Spark Cash Plus?

Below are a few of the cards that compete with this unique Capital One offering:

• If you prefer Chase: The Ink Business Cash® Credit Card has no annual fee and earns 5% cash back on the first $25,000 spent in combined purchases each account anniversary at office supply stores and on internet, cable and phone services, and on Lyft rides through March 2025, 2% on the first $25,000 spent in combined purchases on gas and restaurants, and 1% on all other purchases. If you pair this card with an Ultimate Rewards earning card, you have the ability to convert the cash back to points and utilize Chase's impressive roster of transfer partners. For more information, read our full review of the Ink Business Cash.
• If you don't want an annual fee: Along with the Ink Business Cash, there's also The American Express Blue Business Cash™ Card, a no-annual-fee card (see rates and fees) that offers a similar 2% rewards rate on up to the first $50,000 in eligible purchases each calendar year, then 1% cash back earned is automatically credited to your statement. This card is a strong contender if your business is small and doesn't spend enough to justify the $150 annual fee on the Capital One Spark Plus. For more information, read our full review of the Blue Business Cash.
• If you want to earn a transferable currency: The Capital One Venture X Business has no preset spending limit, comes with lounge lounge access, a $300 annual credit for bookings through Capital One Travel and a plethora of travel protections and insurance with a $395 annual fee (see rates and fees). It earns 2 miles per dollar on all purchases, 5 miles per dollar on flights and vacation rentals booked through Capital One Travel and 10 miles per dollar on hotels and car rentals booked through Capital One Travel.

For additional options, check out our full list of the best business cards.

Related: Your guide to the Chase Ink Business credit cards

Is the Spark Cash Plus worth it?

Whether the Spark Cash Plus is worth it depends on several factors, including the type of rewards you want to earn and your monthly business expenses. If you're focused on earning cash rewards and value a simple earning structure, the Spark Cash Plus is an excellent option. Still, there are more valuable business credit cards out there if you want to maximize your earnings and continually build up your stash of rewards — whether it's cash back, points or miles.

Related: Considerations for your small-business credit card strategy

Bottom line

With a simplified 2% earnings rate on all purchases, the Spark Cash Plus is a solid contender if you're a business owner looking for an easy return. If your business has high annual spending, you can really receive outsize value with the ability to earn unlimited cash bonuses. However, if you want to get into the frequent flyer rewards game, then there are other business cards that could be a better fit.

Apply here: Capital One Spark Cash Plus

For rates and fees of the Amex Blue Business Cash, click here.

For Capital One products listed on this page, some of the benefits may be provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply.