An Expert Review of the Capital One Spark Cash Select Credit Card: A Powerful Tool for Entrepreneurs

It’s the end of the day, and I’m frazzled. I’ve rushed to and from meetings, picked up the tab for a business lunch, and checked out a replacement laptop after dropping mine. Work expenses, yes, but they rack up fast and come out of my pocket. 

Clearly, I’m not alone. If you’re among the nearly one in five US adults who are starting or running a new business, a dedicated credit card that repays you with rewards and perks is essential. It should be easy to manage, too, because any extra click, unnecessary contact, or account review takes time and energy.

Watch on

That’s why I’m big on the Capital One Spark Cash Select card. This flat-rate cash back rewards card has no annual fee and includes a bunch of helpful embedded features for business owners, no matter how small. 

Of course, the Capital One Spark Cash Select card isn’t for every small business owner, so here are all the details you need to know, including its pros and cons, to what you can expect from the application process. By the end of this review, you should know if it could be your next hire.

First, know that the Capital One Spark Cash Select card is great for emerging and established businesses of just about any kind. You might be a gig worker, consultant, freelancer, small to midsize LLC, non-profit, part of a partnership, work alone, or have employees.

Whatever the case, the more you charge, the more you’ll earn. The unlimited cash back rewards are a flat 1.5% of your purchases and don’t expire. 

Capital One Spark Cash Select

CardRates Expert Rating

Capital One Spark Cash Select

4.7/5.0

About this rating

Our experts rate credit card offers based on factors like rewards, APRs, signup bonuses, fees, and approval rates, with a focus on benefits that provide the best value. We also consider cardholder needs such as credit-building potential, issuer reputation, and customer service. Our ratings are unbiased, updated regularly, and not influenced by issuers.

See Our Review»

Ashley Fricker Senior Editor

Close

★★★★★ 4.7/5.0

Our Review »

• Earn a $750 bonus when you spend $6,000 in the first 3 months of account opening
• Earn unlimited 1.5% cash back for your business on every purchase, everywhere — with no limits or category restrictions
• No annual fee
• Earn unlimited 5% cash back on hotels and rental cars booked through Capital One Business Travel
• Rewards won’t expire for the life of the account
• Redeem your cash back rewards for any amount
• Free employee cards, which also earn unlimited 1.5% cash back on all purchases
• $0 Fraud Liability for unauthorized charges
• Top rated mobile app

Show MoreShow Less See application, terms and details »

Intro (Purchases) N/A

Intro (Transfers) N/A

Regular APR 16.74% – 22.74% (Variable)

Annual Fee $0

Credit Needed Excellent

See Rates & Fees »

You also have access to Capital One’s Business Travel portal, which allows you to search and book travel and accommodations, and earn unlimited 5% cash back on any hotels and rental cars you secure through the portal.

It also includes more business-oriented options than the standard Capital One Travel portal

No Annual or Foreign Transaction Fees

The Capital One Spark Cash Select card doesn’t impose an annual fee, which is amazing given all the included benefits. Pay off your entire balance each month before interest is added, and the card isn’t just free, you’ll profit from the rewards. 

You also won’t be hit with foreign transaction fees, which can save you serious cash if you leave the country or make international purchases.

These fees are usually 1% to 3% of the purchase amount. So if you’re in Indonesia picking up $10,000 worth of batik fabric for your shop, you won’t be hit with a $100 to $300 surcharge. 

Employee Cards & Spend Limits

If you want to give employees access to your Capital One Spark Cash Select card, no problem. There’s no fee for these authorized cards, and you can add users at any time after getting the card.

Simply log in to your account on your desktop or via the app and click “add new user.” You will need their name, date of birth, phone number, and Social Security number. When complete, you can give them immediate online account access.

You also have the option to have a physical card sent to them, which will take between seven and 10 business days to arrive. 

And don’t worry, you retain complete control over all of your authorized users. Each user can have a different spending limit, and you can pause or revoke their access instantly at any time.

So if you gave Frank a $100 daily per diem while he’s out on sales calls, but he charged $500 worth of NHL tickets, you’ll know and can take whatever action you see fit. 

With the Capital One Spark Cash Select card, you can earn a steady stream of money with regular charging and enjoy a major bonus by spending a certain amount in the first few months.

But it also comes with a suite of business perks that can help you stay organized and safe. 

Unlimited 1.5% Cash Back

Whether you’re paying a marketing firm thousands of dollars to get your company’s name out there or you dash out for a $10 ream of paper, those charges add up — and they’ll all earn 1.5% cash back.

Although that’s not the highest rate, it is unlimited. Many tiered rewards cards cap out at a certain figure, such as 6% cash back, but only up to $6,000 a year, then 1% for the rest. Depending on your business needs, you could hit a limit like that in a month or two.

The only times you won’t earn at least 1.5% cash back are if you use your card to take out cash withdrawals or transfer a balance to your account. 

And you can earn 5% back when you use the card to book hotel rooms and rent cars through the Capital One Travel portal. 

You’ll see how much cash back you earned about 10 days after making a transaction. But you may have to wait up to two statement dates after the transaction for the cash to post to your rewards balance so you can redeem it.

One-Time Cash Bonus

How would you spend a gift of $750? With the Capital One Spark Cash Select card, you’ll have the opportunity to answer that question.

This impressive one-time bonus will be yours after you make $6,000 in purchases within the first three months of opening the account.

If this card is beginning to seem attractive, feel free to dream now. Me, I’d use that bonus pay for a new laptop. 

Virtual Cards and Fraud Protection

The Capital One Spark Cash Select card includes a number of other embedded perks, including the ability to use virtual card numbers. It’s available digitally, either through your mobile app or when you make purchases online or over the phone. 

Instead of charging things to your card’s actual account number, you can have Capital One convert it to a unique virtual number generated just for that transaction. This process adds a valuable layer of security because you won’t be exposing your card’s real information to the internet or on a call. 

You can also arrange virtual cards for vendor invoices. If your physical card is compromised, your transactions can continue without interruption. You won’t have to delay purchasing important supplies and paying for vital services while you get it all sorted out. 

And speaking of protection, the Capital One Spark Cash Select card offers $0 fraud liability. Therefore, you won’t be responsible for any unauthorized charges if your account is used by someone else without your permission.

If your card does fall into the wrong hands, you’ll know about it quickly. When you enroll in the alert system, Capital One will send security alerts to your phone via a call or a text, or to your email inbox. 

Misplaced your card and are worried someone will grab it before you find it? You can lock and unlock your card at any time.

There are a number of small business functions included within Capital One’s app, so you can manage your account on any connected device. 

For example, you can review all of your transactions in real time, check your rewards, pay your balance, and charge business expenses. For online or phone transactions, you have the option to pay with virtual card numbers. 

If you want to add employees as authorized users to your account with the app, you can. Extra cards are free, and you can customize each person’s spending limit. Via the app, you can get real-time transaction notifications, as well as the ability to lock and unlock any user’s access whenever you need to. 

You can also sync popular accounting software programs, such as NetSuite, QuickBooks, Xero, and Sage Intacct. With all that data in one place, there will be almost no extra work for you!

Employees can quickly capture receipts and add notes via the app. Auto-submit expense reports, view dashboards, categorize spending, and reconcile easily. 

To help with taxes and budgeting, you can download statements and year-end summaries.

The mobile app also gives you 24/7 access to Capital One’s AI assistant (Eno), but I’ve always found that chatbot pretty limited. It can help you with basic questions about your account, but nothing too complicated.

For that reason, I tend to rely on human support. You can call Capital One’s general credit card assistance number at 1-877-383-4802, then follow the prompts for small business credit and banking assistance, or 1-800-867-0904 for Capital One’s small business credit cards.

I’ve had my Capital One card for about 10 years, and I can’t think of a bad experience with customer service, whether it was excessive wait times, professionalism, or overall assistance.

And when I don’t feel like hanging out on the phone waiting for my turn, I use the call back function. A representative will call me when I’m next in the queue. 

To qualify for the Capital One Spark Cash Select, you will need to have excellent credit, which likely means a credit score that’s at least 740, but preferably higher. Although Capital One doesn’t say exactly what score you need, being in FICO’s excellent range is a good starting point.

In addition to an elevated credit score, Capital One requires that you have never declared bankruptcy, defaulted on a loan, or been more than 60 days late on any credit card, medical bill, or loan in the last year.

Moreover, you must have had a loan or credit card for at least three years with a credit limit above $5,000.

Something very important to know is that this card, as with pretty much all business cards, also requires a personal guarantee. Essentially, what this means is that you, as an individual, agree to be responsible for this account.

Any debt that you acquire with it will be yours to pay. All of the activity with this card will alao appear on your consumer credit reports. Manage the account well, and you will keep your credit rating in good standing.

Failing to keep up with payments can hurt your personal credit rating and subject you to collections and legal action.

On the main page for this account, you will see that Capital One explains a bit about the application process.

It takes about ten minutes, and you’ll need to have legal names, addresses, and Social Security numbers for all business owners associated with the account, and have your business information, such as its legal business name, address, and business tax ID number, ready to go. 

But you should find out if you are a potential candidate first. 

Click the “See if I’m pre-approved” button, and you can give Capital One just enough information to determine if the Capital One Spark Cash Select card may be within reach. It won’t affect your credit scores, and if it seems this card might be right for you, you can finish your real application by answering a few more questions. 

Or you can just jump right in. Here’s what you can expect when you apply.

Step 1: Detailed Personal and Income Data

I see a long page filled with fields to fill in and selections to make. It starts with a request for my personal information. I need to write my email address, primary phone number, full name, and date of birth.

There is a box to fill in my Social Security number or ITIN, and a pop-up that explains why I need to enter it. I click on it to find out that it’s to confirm my identity. 

Then I have to write my complete residential address (which cannot be a P.O. Box). 

I see a box with a drop-down menu to select an option that best describes my business role, which can be either Owner, Partner, Manager, Officer, or Member. Next to that, I need to select “Yes” or “No” when asked if I intend to use this card for cash advances.

Next, I come to a space to list my total annual income. It explains that I don’t have to reveal my alimony, child support, or separate maintenance income if I don’t want it to be considered as a basis for repaying this loan.

So what can I add? I can include earnings from full-time, part-time, or seasonal jobs, self-employment, interest or dividends, retirement, public assistance, and shared income (money from somebody else that is regularly deposited into my individual account or shared joint account).

If I’m at least 21, I can also include somebody else’s income that is regularly used to pay my expenses.

Off to the right, I see a box where I can list my monthly rent or mortgage. There are three optional circles to click, asking if I own or rent my home. The third circle is for “other.”

Step 2: Business Name and Contact Information

Instead of having to click another screen, I scroll down to see an area to enter all of my business information. 

The first rectangular box is a drop-down menu that asks about the legal business structure. I click on it to find these options: Sole proprietorship, Corporation, Partnership, Non-profit Corp, Single member LLC, Multiple member LLC, or Other. 

Underneath that, I am asked to write the legal name for my business, my business address, and business phone number inside a series of rectangular boxes. 

Step 3: Business Revenue and Financial Details

I continue to scroll down to see a section for additional business information. 

The first box is a drop-down menu where I am to select from ownership types: Publicly Traded, Majority/Wholly Government-Owned, or Privately Owned.  

Next to that is a field for me to enter my business’s Employer Identification Number (EIN). The IRS provides this number, but if I’m a sole proprietor or single-member LLC, I may not have one.

In that case, I need to indicate that in the Business Legal Structure field and select the option that says, “My business doesn’t have an EIN.”

I entered the year I formed my business and my business industry. In the business industry field, I start typing, and a drop-down menu appears with options. For example, if I type in “real estate,” various related professions appear, such as “residential property managers” and “offices of real estate appraisers.” 

Then, I move to the fields that ask for my annual business revenue, my approximate business spend per month, and the largest purchase I plan on making with the card.

An optional box with drop-down options asks if I carry a balance “often,” “rarely,” or “never.”

Next, I see a series of “Yes” or “No” questions.

• Is my business headquartered in the US?
• Is it legally formed, Inc. and/or registered in the US?
• Is my business primarily in the US?

I answer those questions and move on to the next section.  

Step 4: Card Mailing and Language Preferences

I keep scrolling down the page, and now see selections asking me where I want the card to be mailed. 

Then I have to check a box confirming that I am the decision-maker and that I will have significant responsibility for managing the business.

Then, I check another box indicating that I have reviewed and agreed to the terms of the Electronic Communications disclosure. I must also decide which language I prefer for future communications: English or Spanish. 

Step 5: Account Disclosures and Terms

Scrolling down again, I see disclosures about this account. I am asked to read through them, which include important details such as APRs, fees, the rewards program, and other benefits. 

I see a long, light blue bar after that, which explains that if I do not qualify for this card, I may be considered for others. Capital One will only check my credit once, and it will not affect my Capital One Spark Cash Selectapplication. 

Then, I click the “Continue” button at the bottom. 

Step 6: Review Information and Submit

At this stage, I am taken to a different screen where I review all of my information to ensure everything looks right. I need to check all of the details carefully, because some information may have been auto-filled by my browser.

On the left side of the screen, I see everything that I have been asked, and to the right is what I have either submitted or has been auto-filled. 

There is a “Submit” button at the bottom of this page. If I click it, I will submit my application and will soon find out if I qualify for the card! 

Unfortunately, you won’t know what credit limit you’ll get until you apply and are approved. Capital One, like most credit card issuers, does not publish that information.

In general, though, the Capital One Spark Cash Select typically has credit limits ranging from $2,000 to around $10,000. Higher initial credit limits are possible, however, if your credit rating is particularly strong and your income is especially robust at the time of application. 

Credit lines are based on all the information you put in the application, as well as a thorough credit check, which includes a review of the amount of debt you currently owe. 

If you need a higher credit limit later, you can make a request by either logging into your account, using the app, or calling the customer service number.

Just make sure you’ve had the card for a while (at least six months is recommended) and that you have made all of your payments on time. Capital One may also automatically increase your line, based on a review of your account. 

To increase your odds of a credit limit increase, try to keep your credit utilization ratio low. When your revolving debt is near your credit limit, it may make sense to you that you need greater borrowing power, but Capital One can take it as a sign that you already owe too much. 

With all that charging, you can earn a lot! And when you have accumulated money in your rewards balance, Capital One offers plenty of options when you decide to redeem it. 

First, you can use the cash as a statement credit to reduce your balance. Log in to your Capital One account or use the mobile app, then locate the rewards section. You’ll see the option to apply the credit to your balance.

So, if you have a $500 balance and $250 in rewards, you can cut your balance in half. 

What you can’t do is use the money to make a monthly payment directly, but there is a way around this. You may request a check for the cash to be sent to you.

At that stage, you can deposit it into your checking account and use it for your payment. Or spend it on anything else you want, from office supplies to taking clients out to dinner.

Other ways to use your cash include purchasing gift cards. Capital One has partnerships with a large variety of retailers and companies.

You may even be able to score a gift card at a deep discount, saving you money. After finding the card you want, you can buy it with your rewards. You may choose an electronic link to use right away or have a physical card sent to you. 

Be aware that the Capital One Spark Cash Select card isn’t a travel card, so you won’t be redeeming miles for things like flights and hotels on the Capital One Travel portal, but you can pay with your cash rewards, either in full or in part.  

As with all credit cards, the Capital One Spark Cash Select comes with both benefits and drawbacks. But if you’re as busy as I am, you’ll appreciate this card’s straightforward reward system and embedded perks, without excessive fees.

Also, if you are looking for a travel card for your business, you may prefer one that allows you to earn points or miles that you can redeem for everything from flights to accommodations.

Because this is a cash back card, it doesn’t have the same benefits. However, the Capital One Spark Cash Select works well for people who have neither the time nor inclination to play around with rewards. 

Smart business owners don’t tend to jump into financial decisions without doing their due diligence. And picking a business credit card is an important decision.

So, I’ve added a couple of other potential contenders here, and I’ll give you a quick rundown in case you want to explore them further.

Bank of America® Business Advantage Unlimited Cash Rewards Mastercard® credit card

CardRates Expert Rating

Bank of America® Business Advantage Unlimited Cash Rewards Mastercard® credit card

4.8/5.0

About this rating

Our experts rate credit card offers based on factors like rewards, APRs, signup bonuses, fees, and approval rates, with a focus on benefits that provide the best value. We also consider cardholder needs such as credit-building potential, issuer reputation, and customer service. Our ratings are unbiased, updated regularly, and not influenced by issuers.

See Our Review»

Ashley Fricker Senior Editor

Close

★★★★★ 4.8/5.0

at Bank Of America’ssecure website

Our Review »

• $500 Online Cash Rewards Bonus Offer: Get a $500 online cash rewards bonus after you make at least $5,000 in purchases in the first 90 days of your account opening.
• Earn unlimited 1.5% cash back on purchases, or join Preferred Rewards for Business for no fee, and earn up to an unlimited 2.62% cash back on all purchases if you have a Bank of America® business checking account and qualify for our highest Preferred Rewards for Business tier.
• No annual cap and cash rewards don’t expire as long as your account remains open.
• No annual fee.
• Choose how to redeem your cash rewards – as a deposit into your eligible Bank of America® checking or savings account, as a card statement credit or as a check mailed to you.
• 0% Introductory APR on purchases for your first 7 billing cycles. After the intro APR offer ends, a Variable APR that’s currently 16.74% to 26.74% will apply.
• Contactless Cards – the security of a chip card, with the convenience of a tap.
• This offer may not be available if you leave this page or visit our website. You can take advantage of this offer when you apply now.

Show MoreShow Less See application, terms and details »

Intro (Purchases) 0% Intro APR for 7 billing cycles for purchases

Intro (Transfers) N/A

Regular APR 16.74% – 26.74% Variable APR on purchases and balance transfers

Annual Fee $0.00

Credit Needed Excellent

The Bank of America® Business Advantage Unlimited Cash Rewards Mastercard® credit card and Capital One Spark Cash Select are both solid choices if you want straightforward cash back without paying an annual fee.

The biggest difference is that the Bank of America card can become significantly more rewarding if you qualify for the Preferred Rewards for Business program, while the Capital One Spark Cash Select offers the same flat cash back rate for everyone.

The better card here depends on your banking relationship. If you already do business with Bank of America and qualify for its rewards bonus, it can deliver more value. Otherwise, the Capital One Spark Cash Select is the simpler choice, offering consistent cash back without requiring you to jump through any hoops.

Ink Business Cash® Credit Card

CardRates Expert Rating

Ink Business Cash® Credit Card

4.6/5.0

About this rating

Our experts rate credit card offers based on factors like rewards, APRs, signup bonuses, fees, and approval rates, with a focus on benefits that provide the best value. We also consider cardholder needs such as credit-building potential, issuer reputation, and customer service. Our ratings are unbiased, updated regularly, and not influenced by issuers.

See Our Review»

Ashley Fricker Senior Editor

Close

★★★★★ 4.6/5.0

Our Review »

• Earn $350 when you spend $3,000 on purchases in the first three months and an additional $400 when you spend $6,000 on purchases in the first six months after account opening
• Earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year
• Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year. Earn 1% cash back on all other purchases
• With Zero Liability you won’t be held responsible for unauthorized charges made with your card or account information.
• No Annual Fee
• Redeem rewards for cash back, gift cards, travel and more through Chase Ultimate Rewards®.
• 0% introductory APR for 12 months on purchases
• Member FDIC

Show MoreShow Less See application, terms and details »

Intro (Purchases) 0% Intro APR on Purchases 12 months

Intro (Transfers) N/A

Regular APR 17.49% – 25.49% Variable

Annual Fee $0

Credit Needed Good/Excellent

The Ink Business Cash® Credit Card and Capital One Spark Cash Select are both excellent no-annual-fee business credit cards, but they reward spending in different ways. This card is ideal if your business spends heavily at office supply stores or on internet, cable, and phone services, since those purchases earn elevated cash back up to the annual spending cap.

The Capital One Spark Cash Select takes the simpler approach, earning the same flat cash back rate on every eligible purchase, no matter where you spend.

For me, the better choice depends on how you run your business. If you can maximize the Ink Business Cash® Credit Card‘s bonus categories, it’s tough to beat the extra rewards. But if your expenses vary from month to month or you don’t want to think about which purchases earn the most, the Capital One Spark Cash Select is the easier card to live with.

Both skip the annual fee, so your decision really comes down to whether you prefer higher rewards in select categories or consistent cash back on everything.

As a small business owner, no matter your industry, a great credit card will improve your operations. That’s why I wouldn’t hesitate to recommend the Capital One Spark Cash Select to everyone from solopreneurs to partnerships.

This card offers ease and predictability, qualities busy business owners tend to value. You’ll earn unlimited 1.5% cash back on everything you charge, and 5% back when you book hotels and car rentals through Capital One Travel. There are a number of ways to use the cash you’ve earned, too, from statement credits to gift cards. 

Other reasons I like this card: There is no annual fee, not just for the first year, but over the entire course of account ownership. Nor will you be charged foreign transaction fees, so you can take it with you on international trips without having to pay extra charges.

You’ll also get free employee cards that are easy to add and customize, virtual cards for fraud protection, and a very generous welcome bonus once you meet the minimum spend. And if you start with a low credit limit, Capital One may increase it automatically if you show responsible use. 

Naturally, it’s not ideal for everyone. Excellent credit is required, so it won’t be an option for people who are building their credit. Some business owners may prefer a tiered rewards card, or one with a higher flat rate with an annual fee. It all depends on your needs and style.

But if you’re looking for a reliable, no-fuss business credit card, the Capital One Spark Cash Select card is definitely worth consideration.