Capital One Spark Cash Plus
High flat-rate cash back with no preset spending limit
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The Capital One Spark Cash Plus is a heavy-hitting charge card designed for high-spending businesses that want to maximize cash back without worrying about caps or categories. With an unlimited 2% cash back rate on every purchase and a refund of the annual fee if you spend $150,000 a year, it is arguably the most lucrative flat-rate card for companies with significant inventory or overhead costs. However, because it is a charge card, you must pay your balance in full every month.
At a Glance
- Welcome Offer:
- Rewards Rate: Unlimited 2% Cash Back on every purchase; 5% Cash Back on hotels and rental cars booked through Capital One Travel
- Annual Fee: (Refundable via annual bonus)
- Annual Bonus: Earn a $150 Cash Bonus every year you spend $150,000 or more
- Card Type: Charge Card (No pre-set spending limit; balance due in full monthly)
- Foreign Transaction Fee: None
- Employee Cards: Free
- Credit Score:
Overview
The Capital One Spark Cash Plus replaced the old "Spark Cash" card. The major shift was moving from a credit card (allowing you to carry a balance) to a charge card (requiring full payment). This change allows Capital One to extend much higher purchasing power to business owners. It is a tool for established businesses with strong cash flow that want a simple, high-return reward on every dollar leaving the bank account.
Rewards & Benefits
- Unlimited 2% Cash Back: This is the gold standard for high spenders. If you spend $500,000 a year on inventory, marketing, and rent, this card hands you a check for **$10,000**. No categories, no complications.
- $150 Annual Spend Bonus: This is the "break-even" mechanic. Spend $150k in a year, get $150 back. This cancels out the annual fee.
- 5% Travel Bonus: Booking hotels and rental cars through Capital One Travel earns 5% back, which is a nice boost for business trips.
- No Pre-Set Spending Limit: While not "unlimited" money, the limit adjusts based on your payment behavior and cash flow, often allowing for much larger transactions than traditional cards.
Fees & Requirements
- Annual Fee: .
- Foreign Transaction Fee: None.
- Late Payment Fee: 2.99% of the unpaid portion of your balance (since you are supposed to pay in full).
- Credit Score: Requires Excellent Credit.
- Personal Guarantee: You are personally liable for all charges.
Borrower Experience
- Virtual Cards: The ability to issue virtual card numbers for specific vendors helps prevent fraud and manage subscriptions.
- Expense Management: Detailed year-end summaries and easy integration with accounting software make tax time significantly easier.
Who It’s Best For
- High-Volume Spenders: If your business spends over $150,000 a year, this card is a no-brainer. You get the fee refunded and earn uncapped 2% cash back.
- Inventory Heavy Businesses: Retailers or Amazon sellers who need to buy massive amounts of stock upfront and pay it off at the end of the month will love the purchasing power.
- International Buyers: If you import materials from overseas, the 2% cash back combined with no foreign transaction fees saves you a massive 5% compared to using a bank debit card or a card with FTFs.
Who Should Skip It
- Small Spenders: If you spend less than $150,000 a year, you are better off with the Capital One Spark Cash Select (1.5% back, $0 fee) or Amex Blue Business Cash (2% back up to $50k, $0 fee). You won't trigger the fee refund on the Plus, so you're paying $150 for a marginal gain.
- Businesses Needing Financing: If you need to float expenses for 60-90 days, this card will punish you. Look at the Amex Plum Card or a card with a 0% Intro APR offer instead.
- Privacy Conscious: If you are planning to apply for a personal mortgage soon, the fact that this card reports high balances to your personal credit report might be a dealbreaker.
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Bottom Line Verdict
The Capital One Spark Cash Plus is the ultimate card for "big spenders" who hate complexity. If your business has high monthly expenses and a healthy cash flow, the unlimited 2% rewards are unbeatable. It essentially amounts to a 2% discount on your entire business operations. Just make sure you can pay the bill in full every month.
Pros
Uncapped 2% Rewards: The Spark Cash Plus keeps earning 2% whether you spend $50k or $5 million
Fee Refund: If your business spends $150,000 annually (average $12,500/month), Capital One gives you a $150 bonus, effectively making the card free to hold
No Foreign Transaction Fees: Perfect for businesses that import goods or pay for software services billed internationally
Cons
Pay-in-Full Requirement: You must pay the full balance every month