Finding a solid business rewards credit card isn’t always easy. Sometimes there are high annual fees while others have tiered rewards where you have to spend thousands of dollars before any real rewards kick in.
For the business owner that doesn’t want to have a bunch of separate credit cards aimed to provide the most benefit in each category of spending (typically office supplies, telecommunications, gas, dining, and lodging just to name a few), it can be hard to find that all around solid card.
Who wouldn’t want to carry just one credit card instead of five?
Enter Capital One’s Spark Cash Business Credit Card to save the day.
What Makes the Spark Cash Business Credit Card Different?
There are three great differentiators for this business cash back credit card.
Easy Bonus Rewards – Get $150
Some business credit cards offer the ability to earn some extra bonus cash back, but normally the requirement is thousands upon thousands of dollars in spending.
Capital One’s Spark Cash Business Credit Card is different: earning the extra cash back is simple.
There are two ways to earn bonus rewards that total $150:
- Get $100 for spending $1,000 on purchases in the first 3 months of having the card
- Get $50 for opening up one or more employee cards in the first 60 days
That’s it. No fancy tiers, no jumping through hoops. Spend a little bit of money (almost every business spends $1,000 in three months) and add an employee card and Capital One will give you $150 for free.
Consistent Cash Back on All Spending
The business owner that has time to juggle multiple credit cards to earn the maximum rewards for a bunch of random categories is the business owner that has too much time on his or her hands.
It’s true, at least in theory, that you could get a bunch of cards that paid 3% to 5% cash back on specific categories and earn an overall higher level of cash back. But you would be juggling multiple cards at minimum. Some of those bonus categories have rewards caps so after you hit the cap, you don’t earn any bonus rewards. Worse yet, the annual fees for all of those cards would probably wipe out a majority of the bonuses earned.
Doesn’t that seem like a waste of time to you?
Consider how the Spark Cash Business Credit Card works instead:
- Earn 2% cash back on every purchase, every day
- Get a $100 cash bonus—just spend $1,000 on purchases within the first 3 months
- Receive a $50 cash bonus by signing up for one or more employee cards
- Enjoy award-winning small business customer service
- $0 intro annual fee for the first year; $59 after that
- Redeem cash rewards anytime, for any amount, even set up automatic redemption
- Earn unlimited cash rewards that don’t expire
It’s a more simple program with a rewards rate that is above average.
Low Annual Fee
Annual fees dig into the value of your cash back rewards. High annual fees make some business rewards cards not worth having — you would almost never earn enough rewards to overcome an annual fee of several hundred dollars.
This card wins in this category, too. There is no annual fee for the first year. After that it is only $59. That’s very low as far as business credit card annual fees go.
With a $59 annual fee and a 1% rewards rate, you need to only spend $5,900 in the second year to pay for the annual fee. (Not to mention the $150 you get when you meet the qualifications in the first year.) Most businesses spend more than that anyways, and you’ll earn rewards on top of that.
The Bottom Line