Capital One Spark Cash Select live review
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The Capital One Spark Cash Select is a good choice for small business owners looking for a simple cash back card with no annual fee.
Capital One offers two versions of the card: If you need flexible financing or if your credit score is not in the excellent range, consider the Capital One Spark Cash Select for good credit. If you have a great credit score and want a $ 500 welcome bonus, the Capital One Spark Cash Select for excellent credit may be the best choice.
Select has reviewed the Capital One Spark Cash Select, analyzing its welcome bonus, return on spend, and more to help you decide if it’s the best card for you.
Capital One Spark Cash Select – Excellent credit
Unlimited 1.5% cash back on every purchase
Earn a one-time $ 500 cash bonus once you have spent $ 4,500 on purchases within the first 3 months of opening the account.
13.24% – 19.24% variable APR
Balance transfer fee
Foreign transaction fees
Capital One Spark Cash Select – Good credit
Unlimited 1.5% cash back on every purchase
0% introductory APR for 12 months
Balance transfer fees
Foreign transaction fees
Both cards offer almost identical benefits. With either card, you can earn:
- 1.5% cash back on all qualifying purchases
In addition, the two Capital One Spark Cash Select cards come with:
- Free employee cards
- No foreign transaction fees
- Extended warranty
- Road assistance
- $ 0 fraud liability
There is a big difference in the benefits offered between these two cards. If you register for the Capital One Spark Cash Select for good credit, you can take advantage of a 0% TAP introductory offer during the first 12 months of card membership. Once the introductory APR is complete, this is a variable APR from 15.99% to 23.99%.
Using Capital One Cash Back is super easy.
In your Capital One customer portal, you will see your accumulated cash back and have two options to redeem it:
- Credit it directly to your credit card account
- Have a check mailed to you directly
You can redeem it at any time, and there is no minimum to redeem it.
The Capital One Spark Cash Select is a solid choice for business owners who want more purchasing power to invest in their business. However, it’s not the only credit card to consider for your business expenses. Below, we take a look at comparable credit cards for small business, so you can decide what’s best for your wallet:
Capital One Spark Cash Select Credit Card vs. Chase Ink Business CashÂ®
The Chase Ink Business CashÂ® Credit Card is a great choice for small business owners as they can earn up to 5% cash back on qualifying purchases.
By using the Ink Business card you can earn:
- 5% cash back on the first $ 25,000 spent on combined purchases at office supply stores and Internet, cable and telephone services in each account anniversary year.
- 2% cash back on the first $ 25,000 spent on combined purchases at gas stations and restaurants each anniversary year of the account.
- 1% cash back on all other eligible purchases, with no limit to the amount you can earn.
The card also comes with a lucrative welcome offer: New cardholders can earn $ 750 in bonus cash after spending $ 7,500 on purchases in the first three months after opening the account.
Even if you only earn 1% cash back of the $ 7,500 required to earn the welcome bonus, your total cash back would be $ 825. By comparison, with the Capital One Spark Cash Select for excellent credit, you would only earn $ 567.50 on the welcome bonus and 1.5% cash back on the initial spend of $ 4,500.
However, the Capital One Spark Cash Select for good credit offers spending flexibility that the Chase Ink Business Cash Credit Card. New cardholders can earn an introductory APR of 0% for 12 months, variable APR from 15.99% to 23.99%.
If you choose between the two cards, be sure to analyze your business’ financial priorities. If spending flexibility is the most important, it may be better to select the Capital One card. If your business can use the extra cash back to reinvest in the business, the Chase Ink Business Cash Credit Card could be better suited.
Read Select’s full review of Chase Ink Business Cards here.
Capital One Spark Cash Select vs. Capital One Spark Cash Plus Credit Card
The Capital One Spark Cash Plus Credit Card is the evolution of Spark Cash Select cards.
With the Cash Plus card, you can earn 2% cash back on all qualifying purchases. However, the card works very differently from Cash Select cards.
This card has no credit limit, which gives cardholders greater spending flexibility without having to worry about going over their credit limit. The downside to this feature is that the statement balance is due in full each month.
In addition, the Capital One Spark 2% Cash Plus has an annual fee of $ 150.
If you are hesitating between the two options, be sure to analyze your spending needs closely. If you regularly make large purchases, the flexibility of the Capital One Spark 2% Cash Plus may be the best card. However, if you want to get a welcome bonus of $ 500 or have the funding flexibility of a 0% introductory APR card, Capital One Spark Cash Select cards may be a better fit.
The Capital One Spark Cash Select is ideal for small business owners looking for simplicity. Whether or not you decide to prefer the $ 500 welcome offer that comes with Capital One Spark Cash Select for excellent credit or the 0% introductory APR function supplied with the Capital One Spark Cash Select for good credit, the rewards make the card easy to use as there are no expense categories to follow.
In addition, the card is ideal for business owners who regularly travel internationally, as the card does not have any overseas transaction fees.
At the end of the line
To determine which credit cards offer the best value for money, Select analyzed 234 of the most popular credit cards available in the United States. and customer feedback when available. We also took into account the additional benefits, the application process and the ease with which the consumer can redeem points.
Select has partnered with a location intelligence company Esri. The company’s data development team has provided the most recent and comprehensive data on consumer spending based on the 2019 Bureau of Labor Statistics Consumer Spending Surveys. You can learn more about their methodology here.
Esri’s data team created a sample annual budget of roughly $ 22,126 in retail spending. The budget includes six main categories: groceries ($ 5,174), gasoline ($ 2,218), restaurants ($ 3,675), travel ($ 2,244), utilities ($ 4,862) and general purchases ($ 3,953) . General purchases include items such as housekeeping supplies, clothing, personal care products, prescription drugs and vitamins, as well as other vehicle expenses.
Select used this budget to estimate how much the average consumer would save over the course of one year, two years and five years, assuming they would try to maximize their rewards potential by earning all the welcome bonuses offered and using the card. for all applicable purchases. All total reward estimates are net of annual fees.
While the five-year estimates we’ve included are derived from a budget similar to the average American’s spending, you can earn higher or lower returns depending on your buying habits.
The information on Capital One cards has been independently collected by Select and has not been reviewed or provided by the issuer prior to publication.
Editorial note: Any opinions, analysis, criticism or recommendations expressed in this article are the sole responsibility of the editorial staff of Select and have not been reviewed, endorsed or otherwise approved by any third party.