New Capital One Spark Cash Plus and Select Small-Business Cards

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If you’re a small-business owner who wants to earn cash back rewards for their business spending, three new Capital One cards have just launched that could be worth considering.

The new Spark 2% Cash Plus earns unlimited 2% cash back on all purchases and comes with a welcome bonus of $500 after spending $5,000 in the first three months, and an additional $500 after spending $50,000 in the first six months from account opening. It’s unique in that it’s a charge card, not a credit card, which means there’s no preset spending limit — but you’ll have to pay your balance off in full each month.

Read more: The best Capital One cards of 2021

Two refreshed versions of the Spark Cash Select — the Spark 1.5% Cash Select for Excellent Credit
and Spark 1.5% Cash Select for Good Credit
— both earn 1.5% cash back on all purchases and have no annual fee. However, the Spark 1.5% Cash Select for Excellent Credit offers a welcome bonus, whereas the Spark 1.5% Cash Select for Good Credit comes with an introductory 0% APR offer in lieu of a bonus.

Here’s what you need to know about the new Capital One Spark Cash cards to help you decide if you should apply.

Capital One Spark 2% Cash Plus card details

Featured Reward

$500 after spending $5,000 in the first three months, and an additional $500 after spending $50,000 in the first six months from account opening

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  • Pros & Cons
  • Details

  • Pros
    • Potential to earn up to $1,000 in cash back from the welcome bonus
    • No preset spending limit
    • Strong 2% cash back rate on all purchases with no bonus categories to track and no limits to the rewards you can earn
    Cons
    • Annual $200 cash bonus has a very high spending requirement
    • Relatively high annual fee
    • Because it’s a charge card, you must pay off your balance in full each month
    • The information related to the Spark 2% Cash Plus has been collected by Business Insider and has not been reviewed by the issuer.
    • Unlimited 2% cash back on every purchase
    • Enjoy a one-time bonus of up to $1,000: $500 once you spend $5,000 in the first three months, and an additional $500 once you spend $50,000 in the first six months
    • Earn an annual $200 cash bonus for every year you spend $200,000 or more on the card
    • No preset spending limit; your purchasing power adapts to your spending and payment behaviors
    • Free employee cards
    • $0 fraud liability if your card is lost or stolen
    • Your balance is due in full every month, otherwise you’ll be charged a 2.99% monthly late fee
    • No foreign transaction fees
    • Annual fee of $150

    The Spark 2% Cash Plus replaces the old Capital One Spark Cash for Business card, which is now no longer available to new applicants — but if you’re a current cardholder, you’ll stay with your existing Spark Cash card.

    New Spark 2% Cash Plus cardholders can earn a substantial welcome bonus of up to $1,000 after meeting tiered minimum spending requirements: $500 after spending $5,000 in the first three months, and an additional $500 after spending $50,000 in the first six months from account opening. You’ll earn 2% cash back on all purchases with no caps, and because it’s a charge card, you won’t have a preset spending limit.

    Read more: Credit cards and charge cards look and work similarly, but there’s a major difference when it comes to carrying a balance

    Instead, you’ll be able to make purchases based on your spending behavior, payment history, and credit profile. Traditional charge cards like this don’t allow you to carry a balance from month to month with interest; instead, you’ll need to pay in full each month or be charged a late fee of 2.99% on your outstanding statement balance (and your account will be considered past due until you pay in full).

    Spark 2% Cash Plus cardholders also have the opportunity to earn an annual $200 cash bonus every year they spend $200,000 or more, and receive benefits including extended warranty, roadside assistance, and no foreign transaction fees. There’s a $150 annual fee.

    Capital One 1.5% Spark Cash Select for Excellent Credit card details

    Regular APR

    13.24% – 19.24% variable APR on purchases

    Featured Reward

    $500 cash bonus after spending $4,500 on purchases in the first 3 months from account opening

    Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.

  • Pros & Cons
  • Details

  • Pros
    • Strong welcome bonus for a no-annual-fee card
    • Solid 1.5% cash back on all purchases with no limit to what you can earn
    Cons
    • No intro 0% APR offer
    • Other similar small-business cards have stronger travel and purchase benefits
    • Requires excellent credit to qualify
    • The information related to the Spark 1.5% Cash Select for Excellent Credit has been collected by Business Insider and has not been reviewed by the issuer.
    • Unlimited 1.5% cash back on every purchase
    • One-time $500 cash bonus when cardholders spend $4,500 in the first 3 months
    • Free employee cards
    • $0 fraud liability if your card is lost or stolen
    • No foreign transaction fees
    • No annual fee

    The old Capital One Spark Cash Select card has also been discontinued (but if you have this card already, you can keep it) and replaced with two slightly different versions of the card.

    If your credit score is excellent (defined by Capital One as having never declared bankruptcy or defaulted on a loan; having never been more than 60 days late on any credit card, medical bill, or loan in the last year; and having had a loan or credit card for three years or more with a credit limit above $5,000), the Spark 1.5% Cash Select for Excellent Credit could be a good pick.

    It offers a $500 cash bonus after spending $4,500 on purchases in the first 3 months from account opening and has no annual fee, and all purchases earn unlimited 1.5% cash back. 

    Read more: The best cash-back credit cards of 2021

    Like the Spark 2% Cash Plus, the Spark 1.5% Cash Select for Excellent Credit comes with benefits that can help your small business, including extended warranty, roadside assistance, and no foreign transaction fees.

    Capital One 1.5% Spark Cash Select for Good Credit card details

    Regular APR

    15.99% – 23.99% variable APR on purchases

    Intro APR

    0% intro APR on purchases for 12 months

    Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.

  • Pros & Cons
  • Details

  • Pros
    • Solid 1.5% cash back on all purchases with no limit to what you can earn
    • Doesn’t require excellent credit to qualify
    • Introductory 0% APR on purchases for the first 12 months
    Cons
    • No welcome bonus
    • Other similar small-business cards have stronger travel and purchase benefits
    • The information related to the Spark 1.5% Cash Select for Good Credit has been collected by Business Insider and has not been reviewed by the issuer.
    • Unlimited 1.5% cash back on every purchase
    • Offers a 0% introductory APR for 12 months
    • Free employee cards
    • $0 fraud liability if your card is lost or stolen
    • No foreign transaction fees
    • No annual fee

    Small-business owners who don’t have as long a credit history could still qualify for the Spark 1.5% Cash Select for Good Credit. Capital One defines good credit as having not declared bankruptcy or defaulted on a loan in the past five years, having a credit card or loan, and having not been more than 30 days late on any payment in the last year.

    Read more: The best low-interest and 0% APR cards of 2021

    Instead of a welcome bonus, the Spark 1.5% Cash Select for Good Credit offers an introductory 0% APR on purchases for the first 12 months of account opening (then a 15.99% – 23.99% variable APR on purchases). The card has no annual fee and similar benefits to the other Spark cards.

    Keep in mind there are other no-annual-fee small-business cards that earn a good rate of cash back, offer an intro APR, and come with a welcome bonus. For example, the Ink Business Unlimited® Credit Card and Ink Business Cash® Credit Card both offer $750 bonus cash back after you spend $7,500 on purchases in the first 3 months from account opening and come with an introductory 0% APR on purchases for the first 12 months (then a 13.24%–19.24% variable APR).

    Featured credit cards from our partners

    Featured Reward

    100,000 points

    Credit Needed

    Good to Excellent

    Featured Reward

    3 Free Nights (valued up to 50,000 points each) after spending $3,000 in the first 3 months, plus 10x total points per $1 spent on up to $2,500 in combined purchases in select categories within your first 6 months

    Credit Needed

    Good to Excellent

    Featured Reward

    $200 after spending $500 on purchases in the first three months from account opening

    Credit Needed

    Good to Excellent