Capital One Spark Cash Plus credit card provides an outstanding rewards rate, no foreign transaction fees and an impressive welcome bonus – but not everyone qualifies; to qualify you must have impeccable credit as well as pay off the balance each month.
As a charge card user, you are expected to clear your balance every billing period or face a late fee of 2.99% of unpaid portion (See Rates and Fees). Failure to do so could severely restrict your spending potential.
1. No preset spending limit
Capital One Spark Cash Plus stands out from most credit cards by not having an upfront spending limit, making it ideal for business owners who require larger spending power or who plan on using it for travel purchases. You must, however, pay off your balance every month in full or face incurring a late fee of 2.99% of unpaid balance on statement; additionally there’s no introductory period or annual fee to worry about and you could start reaping rewards faster!
As a business card, Spark Cash Plus provides many standard tools and perks that can make it a valuable addition to your wallet. For instance, this card features a one-time $1,200 cash bonus if you spend $30,000 within three months; this high spending requirement may offset its $150 annual fee easily. Furthermore, no foreign transaction fees apply and travel protection features like roadside assistance are also included with it.
Capital One Spark Cash Plus makes redeeming your rewards easy: simply choose how and when to redeem. Redeem as many or as little rewards per quarter as desired to maintain account status – from checks or direct bank deposit, through statement credits or even check. Just one thing – to avoid your balance becoming deactivated completely you must redeem at least $25 worth in rewards each quarter!
Capital One Spark Cash Plus card is ideal for business owners who require enhanced buying power and can pay their balance in full each month. It provides a generous signup bonus, flat 2 percent cash back rate and rewards on travel and restaurant purchases; additionally there’s also a $150 annual fee rebate and added features such as free employee cards that make expense tracking simpler while earning you additional rewards.
2. No annual percentage rate
Capital One Spark Cash Plus does not impose an annual percentage rate (APR) for balances you carry, although there may be a $150 annual fee incurred if your monthly balance or late fees go beyond an agreed upon limit.
The card is tailored specifically for use by small businesses and features several beneficial aspects that make it a worthwhile solution. You can use it to pay vendors who don’t accept credit cards and set recurring payments to help track expenses over time. Plus, valuable reports and tools to analyze spending trends and prepare for tax time come included as part of its features; such as emergency replacement service and virtual cards for online purchases which conceal your real account number from merchants.
Another distinct feature of this card is its generous 2% cash back on all expenses without categories or limits, providing significant potential earnings boost for those who spend heavily every year. Furthermore, your rewards won’t expire for as long as the account remains open, providing more rewarding reward structures than typical business cards.
Capital One Miles are another way of earning extra with their card, offering you the potential for additional earnings through other features, including being able to transfer them for redemption as statement credits, checks or even travel purchases made directly through Capital One. Furthermore, they give a 5% bonus when booked directly through them!
Spark Cash Plus is designed for those who can pay off their balance in full each month. However, other business credit cards might provide extra perks like airport lounge access or travel insurance policies with lower annual fees; one example would be the Chase Ink Business Premier which charges an annual fee of $195 but includes benefits like primary auto rental coverage, purchase protection, roadside assistance and extended warranty coverage – making its annual fee worth it.
3. No foreign transaction fees
Capital One Spark Cash Plus is a no-fee business credit card that features an attractive uncapped rewards rate, flexible payment options and free employee cards. While this card does not charge balance transfer or annual fees, please keep in mind it is classified as a charge card and requires full payment off at each billing cycle end – failing which, it will assess a 2.99% late fee per unpaid portion of your statement balance each month as penalty fees.
Capital One Travel card features no preset spending limits and offers 2% cash back on eligible purchases; plus an incentive bonus of $1200 after spending $30k within 3 months; $150 is returned each year that a business spends at least $150K with them! Plus there’s fraud protection, money-back guarantee and roadside assistance which may appeal to savvy business owners!
This card is best for businesses that rely heavily on cash back rather than flexible rewards points, yet are spending enough on expenses to offset its $150 annual fee. If this doesn’t fit with your needs, consider other cards with lower rewards rates or other features which might better suit them instead.
Business credit cards can be an invaluable resource, but it’s essential that business owners understand all of the associated fees before applying. This could include foreign transaction and balance transfer charges as well as interest charges that could further add up over time.
As well as paying an annual fee, you’re also responsible for any interest accruing on any unpaid balances. Depending on the card in question, this can quickly add up, leading to debt accumulation that’s hard to control. To minimize high interest rates and maintain affordability for yourself and future cards, pay your balance in full each month and avoid interest charges by being diligent about paying off balances on time.
4. No annual fee
Capital One Spark Cash Plus is a charge card, meaning it requires monthly repayment of its balance. As such, this may make it ideal for business owners needing access to large purchasing power without being restricted by credit limits. If you can spend enough each year to earn its base cash-back rate of 1.4% or greater on this card alone, its $150 annual fee might easily be offset with rewards alone.
This card provides a rewarding flat-rate rewards experience without rotating categories or spending limits, which may provide relief to business owners struggling with managing multiple rewards programs at the same time. Furthermore, its lucrative reward rates make this more advantageous than many cards with tiered systems which may result in lower rewards rates on specific purchases.
Capital One Travel offers business owners looking for ways to earn points rather than simply pay flat-rates a great incentive: their 5% rebate on hotel and rental car reservations booked through Capital One Travel is an attractive benefit that won’t expire as long as their account remains open.
Though this card offers a competitive rewards rate and generous welcome bonus, its $150 annual fee may not always justify itself. If you plan to carry an ongoing balance each month on this card, consider other credit cards which allow for this without incurring interest charges on those charges.
Chase Ink Business Premier offers similar reward structures, with an annual fee of $195 and several business-oriented benefits like primary auto rental coverage when renting vehicles for business use, roadside dispatch services, purchase protection and extended warranty protection coverage.
Capital One Spark Cash Plus is an effective tool for most small-business owners to bolster buying power and earn rewards, with its straightforward rewards experience and ability to net a $150 annual fee refund making it one of the premier business cards available. However, if you require other benefits beyond rewards such as travel or consumer protections then other cards may offer better alternatives.
