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Capital One Spark Card Review
30 Jun 2018

Capital One Spark Card Review

When hiring a new person, you’re looking for reliable, flexible and diligent for your small business. There are also good characteristics to look for in a credit card as well. The nerds can’t aid you with staffing, the Capital One Spark Card can deliver on all the fronts that matter.

Keep on reading for more!

Capital One Spark Card Review

With this credit card, you’ll earn cash back with every purchase you make for your business. Also, One Spark comes with a signup bonus, a decent annual fee, no annoying foreign transaction fees. Here are the details for you to look over and drool over.

  • Annual fees: $0 for the first year, then $95
  • No Foreign transaction fees
  • Rewards program
  • Cashback
  • Sign-up bonus
  • A one-time $500 cash bonus once you spend $4,500 on purchases within three months from account opening

VERDICT: If you’re looking for a simple, high-value credit card for your business spending, this one fits the bill

Good for:

  • Business owners looking for a simple, flexible rewards credit card
  • Business owners who don’t travel much
  • Business owners who make overseas purchases

Bad for:

  • Business owners looking for a long introductory 0% period
  • Business owners looking to avoid annual fees
  • Business owners who frequently travel for work

The Basics Of Spark Business Card

Before we get into the nuts and bolts of this Capital One Spark Visa that really stand out, let’s take a peek at the basics that make this spark credit card stand above the rest.

  • You’ll receive a sign-up bonus: A one-time $500 cash bonus once you spend $4,500 on purchases within three months from account opening.
  • You’ll earn 2% cash back on every purchase you make with the card.
  • Your cash-back earnings are unlimited, and rewards don’t expire as long as your card is open, and your account is in good standing.
  • You’ll pay no foreign transaction fees.
  • You’ll pay an annual fee of $0 for the first year, then $95.

The Pros: Where This Spark Business Card Shines Like The Sun

It might be struggling to tell from a quick look at the spark credit card essentials, but it provides a top of the line value to busy business owners. For example, you’ll receive:

A rate of high rewards:

Earn 2% back on all your business spending; a rare find when it comes to business credit cards. Lots of credit cards will enable you to score more than 1% in specific spending categories, but for the most part, 1% is usually all that you get. This is a credit card that gives double the rewards rate. If that doesn’t convince you to put this card at the top of your list, nothing will.

Earning and Redeeming Rewards Is Easy:

Running a company means keeping an eye on all the details that matter and the last thing any entrepreneur wants to worry about is one more thing. With this spark, you won’t have to concern yourself with about your credit card rewards of you’ll increase your consistent cash-back rate with every purchase and can redeem it whenever you want at any amount and any time.

If it’s simpler, you can schedule an automatic redeeming of your points when your rewards balance reaches a certain number. Basically managing this cards benefits is easier than most things you do every day.

No Foreign Fees Transactions:

There are few things worst then getting punished for a foreign transaction fee for buying a cool item overseas. But you won’t have to concern yourself with about your credit card statement with Capital One Spark. It waives all foreign transactions fees, so you won’t ever have to worry about paying an extra 3% for international purchases.

Are No Fees The Way To Go?

The spark business card provides a solid deal for small business owners, but bear in mind the value proposition comes in an annual fee of $0 for the first year and $95 after that. Many business owners don’t know this, but there is a less expensive option to this card.

The Spark Visa provides unlimited 1.5% cash back on all purchases and charges no foreign transactions fees and comes annual fee of $0. Trying to decide whether it’s worth paying a yearly fee for a higher reward rate depends on the amount of money you think you’ll spend over the year. If we put aside the bonus signups and the fact the spark business card waives its annual fee in the first year, you’re better off going with the Capital One Cash Select if you’re costs will be $19,000 or more a year.

That’s a low limit for most business owners, so, for the most part, you’re better off paying the extra cash every year to earn more each day. The Nerds believe that most business owners will give up enough of their value and maybe more out of the spark credit card to make it worth their while.

The Cons: The Downsides To The Spark Business Card

No 0% period – Many business owners go to credit cards as a method to finance large company purchases at 0% for short period of time. But the Capital One business credit cards are impressive in this regard. The ongoing APR is 18.49% Variable APR and could be better elsewhere.

No categories for bonus rewards – Earning a regular 2% cash back with the Capital One Spark is fantastic, but you can’t earn any more than that. If you’d like to earn 5% cash back in various categories you spend more in; you’ll have to look for another credit card company.

No Perks For Travel- The Spark Business card charges no foreign transaction fees, but that’s about all of the travel benefits it offers customers. Consider getting a card that makes it easier to earn and redeem rewards for vacations if your small business keeps you on the go.

The Verdict: Is the Capital One Spark Card right for your Company?

The Capital One Spark card will do your company right if you’re looking for excellent, unlimited cash-back earnings, a sign-up bonus and easy to understand and use redemption structure. Other cards might be better for specific features, but if you’re looking for the simplicity and flexibility in the area of cash back, you really can’t go wrong with this card.

For more information on credit cards worth having, check out this.