Capital One Spark Cash Select for Excellent Credit overview
The Capital One Spark Cash Select for Excellent Credit (see rates and fees) is a no-annual-fee business card that’s a good option for small-business owners who want to earn cash back at a flat rate on all their purchases. A younger sibling to the Spark Cash Plus card, the Spark Cash Select earns an unlimited 1.5% back on all purchases. Still, some business owners will be disappointed by the limited benefits the Spark Cash Select offers. Card Rating*: ⭐⭐⭐
*Card Rating is based on the opinion of TPG’s editors and is not influenced by the card issuer.
When it comes to flexible credit card rewards, cash back is king. It allows you to use your rewards to fund travel, upgrade your office furniture or order lunch to celebrate completing a big project.
If you want to earn your cash back without paying an annual fee, the Spark Cash Select could be the perfect card for your business.
Let’s dive into what this card can offer you and your business.
Spark Cash Select welcome offer
Currently, you’ll earn a one-time $500 cash bonus after spending $4,500 within the first three months from account opening with this card.
This $500 bonus is impressive, especially considering that cash-back cards generally have lower welcome offers. Since you don’t have to pay an annual fee, this bonus is money straight into your pocket.
Spark Cash Select benefits
Know, though, that the Spark Cash Select’s perks are considerably light compared to what our other favorite business credit cards have to offer.
Earning cash back on the Spark Cash Select
One of the best things about the Spark Cash Select is its simple earning structure. With it, you’ll earn 5% back on hotels and rental cars booked through Capital One Travel and an unlimited 1.5% cash back on all other purchases.
If you spend a large portion of your budget on purchases that won’t earn any bonus points with most business cards, this flat earning rate will ensure you earn decent rewards on everything you buy.
Redeeming cash back on the Spark Cash Select
Just like earning rewards, redeeming your Spark Cash Select rewards is simple and straightforward. You can cash in your rewards for a statement credit or a check sent to you in the mail.
A drawback to this card is that you won’t have the option to get a higher value from your rewards by transferring them to a valuable travel partner. But if you don’t want to spend time and energy learning how to maximize your rewards and planning your redemptions, the simplicity of your cash back is attractive.
Which cards compete with the Spark Cash Select?
If you want to earn a higher return on your business expenses or more options for redeeming your rewards, one of these cards will likely be a better fit.
- If you spend enough to justify paying an annual fee: The Capital One Spark Cash Plus (see rates and fees) earns a higher 2% back on all purchases but has a $150 annual fee. You’ll get your annual fee refunded after you spend $150,000 each year, so this is a better option if you spend enough to reap this card’s additional benefits. For more details, check out our full review of the Spark Cash Plus.
- If you want more reward redemption options: The Capital One Spark Miles Select for Business earns rewards as miles, allowing you to transfer your rewards to any of Capital One’s 18 airline and hotel partners. For more details, check out our full review of the Spark Miles Select.
- If you want to earn Chase Ultimate Rewards: The Ink Business Unlimited® Credit Card also earns an unlimited 1.5% cash back on all purchases. But if you also have a card that allows you to transfer your rewards to travel partners, like the Chase Sapphire Preferred® Card or the Ink Business Preferred® Credit Card, you can transfer the rewards you earn with the Ink Business Unlimited as well. For more details, check out our full review of the Ink Business Unlimited.
The information for the Spark Miles Select for Business card has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.
Is the Spark Cash Select worth it?
The Spark Cash Select allows you to get the full value of your welcome bonus and cash-back rewards without having to worry about justifying an annual fee. However, if you spend enough to justify an annual fee or can maximize the bonus categories on other credit cards, this card isn’t likely to spark joy.
More specifically, senior credit cards editor Matt Moffitt recommends that if you spend at least $30,000 a year, you’ll be better off getting the Spark Cash Plus, as the cash back you earn will make up for the $150 annual fee. However, getting the Spark Cash Select is the better option if you spend less than $30,000 in a year.
If you want a business card that earns cash-back rewards at a flat rate and doesn’t have an annual fee, the Spark Cash Select is a great option. But if you have significant business expenses, you’ll want to opt for a card with higher earning potential and more substantial benefits.