Capital One Spark Cash Select Review: No Annual Fee, $750 Bonus, 1.5% Cash Back

The Capital One Spark Cash Select is arguably Capital One’s best no annual fee business credit card. The card has a huge welcome bonus, and offers a decent rewards structure with no foreign transaction fees. Best of all, rewards earned on the card can even potentially be converted into airline miles or hotel points, in conjunction with the right card. In this post, I’d like to share my in-depth review of the Spark Cash Select, look at all the details of the card, and talk about under what circumstances it makes sense. Link: Learn more about the Capital One Spark Cash Select Capital One Spark Cash Select summary & key detailsCapital One Spark Cash Select bonus, fees, & rewardsSpark Cash Select $750 welcome bonusSpark Cash Select bonus eligibility requirementsSpark Cash Select no annual feeSpark Cash Select 1.5% cash back on everyday spendingSpark Cash Select 5% cash back with Capital One Business TravelSpark Cash Select no foreign transaction feesConvert Spark Cash Select cash back into Capital One milesIs the Capital One Spark Cash Select worth it?How does the Capital One Spark Cash Plus compare?Which no annual fee Amex business cards are worth it?Which no annual fee Chase business cards are worth it?Capital One Spark Cash Select FAQsBottom line Capital One Spark Cash Select summary & key details Before I get into my Capital One Spark Cash Select review, here’s a brief summary of the key details of the card: Annual fee: None Welcome offer: $750 cash bonus after spending $6,000 within the first three months Cash back earn rate: 5% cash back on select Capital One Business Travel purchases, plus 1.5% cash back on all other purchases Foreign transaction fees: None Best for: Business owners who value the lack of foreign transaction fees, and who don’t spend that much on credit cards (because if you spend a lot, you should instead get the Spark Cash Plus, as I’ll explain below) Below are what I consider to be the pros and cons of the Capital One Spark Cash Select. Spark Cash Select prosSpark Cash Select consBig welcome bonus for a no annual fee cardNo points transfers, unless you have another cardA simple, lucrative rewards structureI’d aim for better than 1.5% cash back on spendingNo foreign transaction feesNo exciting bonus categories for spending Capital One Spark Cash Select bonus, fees, & rewards While you’ll find more well-rounded business credit cards out there, the Capital One Spark Cash Select is a pretty solid no annual fee option. The card has a huge welcome bonus, no foreign transaction fees, and a pretty decent return on everyday spending. Let’s cover the details. Spark Cash Select $750 welcome bonus The Capital One Spark Cash Select is offering a welcome offer of $750 cash back after spending $6,000 within the first three months. For a no annual fee card this is an excellent bonus, and a great incentive to apply. The Spark Cash Select offers flexible cash back rewards Spark Cash Select bonus eligibility requirements You’re eligible for the welcome bonus on the Capital One Spark Cash Select if you haven’t had this specific card before. You are eligible for the card (including the bonus) even if you have or have had another Capital One business card. Capital One has few consistent other restrictions when it comes to being approved for cards. Spark Cash Select no annual fee The Capital One Spark Cash Select has no annual fee, so it’s pretty awesome to have a rewarding card that doesn’t have an annual fee. You can also add additional users to the card at no extra cost, so it’s a great option for adding employee cards. While it won’t be valuable for everyone, it’s also worth mentioning that the card offers some business management tools, including year-end spending summaries. Spark Cash Select 1.5% cash back on everyday spending The Capital One Spark Cash Select offers a minimum of 1.5% cash back on every purchase, everywhere, with no limits or category restrictions. This is super straightforward, as the cash back can be redeemed for any amount, and doesn’t expire as long as the account remains open and in good standing. The Spark Cash Select also offers some extra protections on spending, including an extended warranty on eligible items purchased with the card. Just keep in mind some benefits are provided by Mastercard, so you’ll need to see the Guide to Benefits for details, as terms and exclusions apply. Now, let me note that among cash back cards, I generally consider 2% cash back to be the gold standard. However, there are limited options of cards that have no annual fee and no foreign transaction fees, all while offering an otherwise solid return. Spark Cash Select 5% cash back with Capital One Business Travel Beyond the flat 1.5% cash back with the Capital One Spark Cash Select, there’s just one bonus category. The card offers 5% cash back on hotels, vacation rentals, and rental cars, booked through Capital One Business Travel, which is Capital One’s travel portal for small business cards. Spark Cash Select no foreign transaction fees The Capital One Spark Cash Select has no foreign transaction fees, and I think that’s specifically worth highlighting. Most cash back business cards with no annual fee do have foreign transaction fees, so this sets the card apart. Other cards sometimes have foreign transaction fees of 3% or more, quickly wiping out any rewards you’d otherwise earn. Use the Spark Cash Select with no foreign transaction fees Convert Spark Cash Select cash back into Capital One miles There’s an interesting twist to Capital One Spark Cash Select, for those looking to earn travel rewards rather than cash back: While the Capital One Spark Cash Select earns cash back, you can potentially convert cash back into Capital One miles If you have the Spark Cash Select in addition to a card earning Capital One miles, like the Capital One Venture X Rewards Credit Card (learn more), Capital One Venture Rewards Credit Card (learn more), or Capital One Venture Business (learn more), then each cent can be converted into one mile This can be done directly through Capital One’s website using the “Move Rewards” feature Capital One miles can be converted to over a dozen airline and hotel partners at a 1:1 ratio; because of this functionality, I value Capital One miles at 1.7 cents each This is a pretty exciting opportunity, since it means that this no annual fee card also potentially earns 1.5x transferable points with no foreign transaction fees. It also means that the welcome bonus of $750 is potentially worth 75,000 Capital One miles. Transfer Capital One miles to Emirates Skywards Is the Capital One Spark Cash Select worth it? The Capital One Spark Cash Select is a great card for a certain type of business, but isn’t for everyone. If you have a small business and don’t want to pay an annual fee for a card, don’t spend that much on cards, and/or frequently make international purchases, then the Spark Cash Select is a great option. You’re not going to find a more rewarding no annual fee business card with no foreign transaction fees and no caps on rewards. Similarly, if you have another Capital One card earning miles, then some might appreciate the ability to really earn 1.5x miles per dollar spent on a no annual fee card with no foreign transaction fees. Who shouldn’t consider the Capital One Spark Cash Select? Well, if your business spends a lot of money, or if you’re happy to pay an annual fee for big rewards, then there are definitely other cards to consider. I’ll take a look at some alternatives below, but the most obvious is the Capital One Spark Cash Plus — so that I don’t bury the lede, if you plan to spend at least $30,000 per year on the card, then that’s definitely the better option. How does the Capital One Spark Cash Plus compare? If you like the general idea of the Capital One Spark Cash Select, but want a card that’s a bit more rewarding, consider the Capital One Spark Cash Plus (learn more) instead: The card has a $150 annual fee, but you can get that $150 annual fee refunded if you spend at least $150,000 on the card per anniversary year The card offers 2% cash back on all purchases, which is 0.5% more than on the Spark Cash Select The card also has no foreign transaction fees The card offers a much bigger welcome bonus, as you can earn a cash bonus of $2,000 after spending $30,000 within the first three months, plus a further $2,000 cash bonus for every $500,000 spent within the first cardmember year, and you can earn that multiple times If you spend quite a bit on business cards and want to earn cash back rewards, then the Capital One Spark Cash Plus is the obvious choice. I’d argue it’s one of the best cash back business cards out there. Just to put some concrete numbers to it, there’s a 0.5% cash back spread on the rewards between the two cards (1.5% cash back vs. 2% cash back). So if you spend $30,000 per year on a card, you’d earn an extra $150 in rewards on the Spark Cash Plus, which offsets the annual fee compared to the Spark Cash Select. Which no annual fee Amex business cards are worth it? If you definitely want to stick to a no annual fee business card, there are two Amex business cards that are probably the closest competitors to the Spark Cash Select: The American Express Blue Business Cash® Card (learn more) has no annual fee (Rates & Fees) and offers 2% cash back on all eligible purchases on the first $50,000 of purchases each calendar year, 1% thereafter The Blue Business® Plus Credit Card from American Express (learn more) has no annual fee (Rates & Fees) and offers 2x Amex points on the first $50,000 spent every calendar year (and then 1x points) What’s the catch? As you can see, the generous rewards are capped to the first $50,000 spent each calendar year. On top of that, the cards have foreign transaction fees, so they’re only worth using for purchases in USD. Lastly, the welcome offers on the cards aren’t too much to get excited about. Earn 2x transferable points with the Amex Blue Business Plus Which no annual fee Chase business cards are worth it? Chase also has a couple of potentially very lucrative no annual fee business cards, which are in some ways a competitor to the Spark Cash Select: The Ink Business Unlimited® Credit Card (learn more) has no annual fee, and offers a flat 1.5% cash back on all eligible purchases with no caps The Ink Business Cash® Credit Card (learn more) has no annual fee, and offers 5% cash back on the first $25,000 of combined purchases per cardmember year on office supply stores, internet, cable TV, mobile phones, and landlines, 2% cash back on the first $25,000 of combined purchases per cardmember year on restaurants and gas stations, and 1% cash back on all other eligible purchases These are actually very lucrative cards, as they have great welcome offers, and they also make up part of the overall Chase ecosystem. If you have them in conjunction with another card earning Ultimate Rewards points, then you can convert your rewards at the rate of one cent per point. As I see it, the main downside compared to the Spark Cash Select is that the cards have foreign transaction fees, so they’re not good if you do a lot of spending in foreign currencies. What is the Capital One Spark Cash Select? The Capital One Spark Select is a lucrative no annual fee business card. It earns a minimum of 1.5% cash back on all spending with no foreign transaction fees. Rewards can even be converted into Capital One miles, but only in conjunction with select other cards. Does the Capital One Spark Cash Select have an annual fee? No, the Capital One Spark Cash Select has no annual fee, both for the primary cardmember, and for authorized users How much cash back does the Capital One Spark Cash Select earn? The Capital One Spark Cash Select earns unlimited 1.5% cash back on every purchase, without spending caps or rotating bonus categories. It also offers 5% cash back on hotels, vacation rentals, and rental cars,booked through Capital One Business Travel. What is the Capital One Spark Cash Select welcome bonus? The current Capital One Spark Cash Select welcome offer is a $750 cash bonus after spending $6,000 on purchases within the first three months from account opening. Does the Capital One Spark Cash Select have foreign transaction fees? The Capital One Spark Cash Select doesn’t have foreign transaction fees, a major advantage over some other no annual fee business cards. Is the Capital One Spark Cash Select a business credit card? Yes, the Capital One Spark Cash Select is a business credit card from Capital One. You can apply under your corporation, or you can even apply as a sole proprietorship. What credit score do you need to get approved for the Spark Cash Select? There’s not any published credit score that you need to get approved for the Spark Cash Select. I’d recommend having a score in the good to excellent category, ideally 700 points or more. That being said, people with lower scores have been approved, and people with higher scores have been denied, since it’s one of only several factors that impacts approval odds. Bottom line The Capital One Spark Cash Select is a no annual fee business card worth being aware of. The card offers 1.5% cash back on all purchases with no foreign transaction fees, and the card also has a generous welcome bonus. If you have the card in conjunction with something like the Capital One Venture X, then rewards can also potentially be converted into miles. Personally I still prefer the Capital One Spark Cash Plus. While it has a $150 annual fee, the card offers 2% cash back on all purchases, an even bigger bonuses, and potential spending bonuses as well. It’s an unbeatable cash back business card. If you want to learn more about the Capital One Spark Cash Select or want to apply, follow this link. The following links will direct you to the rates and fees for mentioned American Express Cards. These include: The Blue Business® Plus Credit Card from American Express (Rates & Fees), and The American Express Blue Business Cash® Card (Rates & Fees).