The first thing to note is that there are two versions of this card. There’s the Capital One Spark Cash Select - $500 Cash Bonus, aimed at small business owners with excellent credit. And there’s the Capital One Spark Cash Select - 0% Intro APR for 12 Months, aimed at small business owners with good credit.

In the case of the first version, there’s a sign-up bonus. You can earn $500 cash back once you spend $4,500 on purchases within the first 3 months from account opening.

With the second version, there’s no sign-up bonus, but there’s a useful introductory APR period: 0% on purchases for 12 months. After, a 20.74% - 28.74% (variable) APR applies.

Both versions earn cash back on every purchase and offer benefits such as free employee cards.

• No annual fee

  For business owners who want a small business credit card to manage expenses and earn rewards, but don’t want to pay an annual fee, the Capital One Spark Cash Select - $500 Cash Bonus is a good choice, because its annual fee is $0. The Capital One Spark Cash Select - 0% Intro APR for 12 Months also comes with a $0 annual fee. This means everything you earn with your card is net cash back in your bank account (assuming you don’t incur interest charges or other fees, that is).

• Earn a sign-up bonus or get an intro APR

  Depending on what version of the card you get, you’ll either have the chance to earn a sign-up bonus or take advantage of an intro APR period on purchases.

  With the Capital One Spark Cash Select - $500 Cash Bonus, earn $500 cash back once you spend $4,500 on purchases within the first 3 months from account opening.

  And if you get the Capital One Spark Cash Select - 0% Intro APR for 12 Months instead, enjoy 0% on purchases for 12 months, after which a 20.74% - 28.74% (variable) APR applies.

• Simple rewards structure

  If you don’t want to keep track of a broad range of earning categories or spending caps, you’ll appreciate that this card keeps things simple. Cardholders earn 1.5% Cash Back on every purchase; 5% Cash Back on hotels and rental cars booked through Capital One Travel. There’s no limit and rewards don’t expire as long as your account is open. Redemption options include statement credits, checks, credits for previous purchases, gift cards and more.

• No foreign transaction fee

  If business takes you outside the United States, you can travel with ease knowing you don’t have to worry about a foreign transaction fee — there is none.

• Employee cards

  Issue cards to employees at no additional cost and set customized spending limits.

• It's possible to earn a higher cashback rate

  Earning 1.5% cash back on every purchase; 5% cash back on hotels and rental cars booked through capital one travel isn’t bad. However, it is possible to earn a higher rate on a business card with no annual fee – such as 5% back in certain categories or 2% back on everything up to an annual spending limit.

• Redemption limitations

  This is a cashback card where your rewards can’t be redeemed for travel or transferred to any of Capital One’s airline or hotel transfer partners. If you’re looking for a travel card that earns miles, consider the Capital One Spark Miles Select for Business instead.

• Requires good to excellent credit

  When applying for the Capital One Spark Cash Select - 0% Intro APR for 12 Months version of the card, you’ll need at least good credit. And when applying for the Capital One Spark Cash Select - $500 Cash Bonus, the standards are higher — you’ll need excellent credit.

  If your credit is only fair, you might have better approval odds with the Capital One Spark Classic for Business, which still earns cash back to the tune of unlimited 5% cash back on hotels and rental cars booked through capital one travel

Compare it to the Ink Business Unlimited^® Credit Card

 

For business owners looking to earn cash back, a competing card worth considering is the Ink Business Unlimited^® Credit Card, issued by Chase. Similar to the Capital One Spark Cash Select - $500 Cash Bonus, this card charges a $0 annual fee and lets cardholders earn unlimited 1.5% cash back on every purchase made for your business. However, it offers a more generous sign-up bonus.

Earn $750 bonus cash back after you spend $6,000 on purchases in the first 3 months from account opening. However, note that the spending requirement is higher than that of the Capital One Spark Cash Select - $500 Cash Bonus. With the Ink Business Unlimited^® Credit Card, you’ll need to spend $2,500 per month to meet the target. Smaller businesses might find this challenging.

The Ink Business Unlimited^® Credit Card also comes with a helpful intro APR: 0% Intro APR on Purchases for 12 months. After, a 17.74% - 23.74% variable APR applies.

Unfortunately, there’s a foreign transaction fee of 3% of each transaction in U.S. dollars. If business requires you to travel abroad, leave this card at home and take one with no foreign transaction fee.

If you want a business credit card that earns cash back on every purchase and offers tools to help manage your expenses, but your business doesn’t spend enough in a year to make a card with an annual fee worth it, the Capital One Spark Cash Select - $500 Cash Bonus is a fine choice.

When it comes time to decide which version of the card to apply for, evaluate how good your credit score is. With excellent credit, you can apply for the Capital One Spark Cash Select - $500 Cash Bonus with confidence.

But if your credit score is just good, you’ll have a better chance applying for the Capital One Spark Cash Select - 0% Intro APR for 12 Months version.

Finally, if your business spends enough that you’re willing to pay an annual fee to earn a higher cashback rate, consider the Capital One Spark Cash Plus. This card earns 2% cash back on every purchase; 5% cash back on hotels and rental cars booked through capital one travel and charges a $150 annual fee. It’s also a charge card, meaning you have no preset spending limit.

For Capital One products listed on this page, some of the above benefits are provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply.

The information related to the Ink Business Unlimited^® Credit Card, the Capital One Spark Miles Select for Business and the Capital One Spark Classic for Business has been independently collected by LendingTree and has not been reviewed or provided by the issuer of these cards prior to publication.