Overview
Capital One just announced a new introductory offer for its Spark Cash Plus Business Card, making it one of the most lucrative cashback business products on the market.
The charge card (we’ll explain the difference in a moment) is built for big-spending business owners, and the new offer doubles down on that premise.
What’s the offer?
The introductory bonus has two components, rewarding higher spending businesses massively in the first year of card ownership. Here are the details of the offer:
Earn $2,000 in cashback after spending $30,000 within the first three months of opening the card
Earn an additional $2,000 for every $500,000 spent in the first year of card ownership
If you’re staring at those figures and feeling a bit overwhelmed, don’t worry—this card was never meant for you. It’s for higher spending businesses, and there are better options out there for your budget. For those with heavy outgoings, however, you should see an incredible opportunity.
There’s no suggestion that the offer is temporary. Instead, this appears to have become the standard offer.
- Best for: High-spending business owners who want cash-back
- Annual Fee: $150
- APR: N/A
- Reward Rate: 2%-5%
- Recommended Credit: 740-850
Capital One Spark Cash Plus
Earn $2,000 cash back
Offer Details:
$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
Why we like it
This card is all about earning, no frills. It follows a similar pattern to other Capital One products, offering an unlimited flat-rate earning scheme of 2% cash back on all purchases. Assuming a business could successfully meet the intro bonus requirements, that’s a whopping $14,000 in cashback in the first year. It’s also worth noting that if you own a miles-earning Capital One product, like the Capital One Venture X Credit Card, you can convert your cashback to miles. That would come to a spectacular and flexible 1.4 million miles. In short, it’s an earning machine.
Reward details
2% cash back on every purchase
5% cash back on hotels and rental cars booked through Capital One’s travel booking site
Pros & Cons
Pros
-
High bonus offer
-
No frills, solid earning
Cons
-
Perks are catered towards high-spenders
-
It is a charge card (some may view this as pro!)
Terms Apply
What else does the card offer?
The Spark Cash Plus follows a similar pattern to other Capital One products by offering an unlimited flat-rate earning scheme of 2% cashback on all purchases. Assuming a business could successfully meet the intro bonus requirements, that’s a whopping $14,000 in cashback in the first year. It’s also worth noting that if you own a miles-earning Capital One product, like the Capital One Venture X Credit Card, you can convert your cashback to miles. That would come to a spectacular and flexible 1.4 million miles.
The flat-rate doesn’t have any black spots, either—there are no category requirements, limits, or caveats. You spend, you earn 2% cashback. No exceptions.
The card does come with a $150 annual fee, but Capital One refunds this each year after the cardholder spends $150,000.
Beyond that, it’s a simple card. There are no frills here. It’s all about earning, and that’s not a bad thing.
Who Should Open the Spark Cash Plus Business Card
It should be obvious by now, but the Spark Cash Plus Business Card is geared towards high-spending business owners. That’s not to say smaller operations can’t take advantage of the 2% cashback on everything, but the likelihood of hitting those stellar introductory offers is extremely low.
If you’re set on a new cashback card but can’t take advantage of this offer, try a card like the Capital One Spark Cash Card, or opt for the Chase Ink Business Unlimited Card, which both offer similar earning rates with more attainable bonuses.
What is a Charge Card
The Spark Cash Plus Business Card is a true charge card. These differ from traditional credit cards in that they don’t have predetermined limits, and must be paid in full every month. This isn’t an inherently bad thing, but it does require sensible financial habits.
It is also possible that charges may be declined if Capital One views it as too much or too risky. In theory, the card’s spending ability will adapt over time to the habits of the owner, but some users have reported frustration at being denied purchases that were previously approved.
The Point
Capital One has launched an exciting new bonus on its Spark Cash Plus Business Card, offering more than $4,000 in cashback for high-spending business owners. While smaller businesses will struggle to maximize the value of the card, it represents an outstanding opportunity for those with major expenses.
- Best for: High-spending business owners who want cash-back
- Annual Fee: $150
- APR: N/A
- Reward Rate: 2%-5%
- Recommended Credit: 740-850
Capital One Spark Cash Plus
Earn $2,000 cash back
Offer Details:
$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
Why we like it
This card is all about earning, no frills. It follows a similar pattern to other Capital One products, offering an unlimited flat-rate earning scheme of 2% cash back on all purchases. Assuming a business could successfully meet the intro bonus requirements, that’s a whopping $14,000 in cashback in the first year. It’s also worth noting that if you own a miles-earning Capital One product, like the Capital One Venture X Credit Card, you can convert your cashback to miles. That would come to a spectacular and flexible 1.4 million miles. In short, it’s an earning machine.
Reward details
2% cash back on every purchase
5% cash back on hotels and rental cars booked through Capital One’s travel booking site
Pros & Cons
Pros
-
High bonus offer
-
No frills, solid earning
Cons
-
Perks are catered towards high-spenders
-
It is a charge card (some may view this as pro!)
by your friends at The Daily Navigator
