The Capital One Spark 1.5% Cash Select comes with a variety of perks.
New cardholders can earn a cash back rewards sign-up bonus. The bonus is worth $500 and requires you to spend $4,500 on your card within the first three months of opening your account. This is a really competitive bonus, although not the best sign-up bonus you can find. On the plus side, business cards with higher bonuses often have much higher spending requirements. It’s not unusual to find business card sign-up bonuses with requirements of $7,500 or $10,000. The $4,500 requirement should be much easier for smaller businesses to meet.
Unlimited 1.5% cash back
The best business credit cards have some kind of rewards, and the Capital One Spark 1.5% Cash Select is no exception. You’ll earn cash back rewards on your purchases at a flat rate of 1.5%. There is no limit on how much cash back you can earn, and there are no categories that you need to activate or track.
Your cash back rewards won’t expire so long as your account remains open and in good standing. Cash back can be redeemed for a statement credit or as a check. There’s no minimum rewards amount required to redeem.
Automatic cash back redemption
You can set up automatic cash back redemption, too. This lets you choose to automatically redeem your cash back at a given time interval or for a specific rewards amount. For example, you could set it to automatically redeem your cash back every quarter. Alternatively, you could set your account to redeem your rewards every time you get $25 in cash back.
No annual or employee card fees
You won’t need to pay an annual fee with your Capital One Spark 1.5% Cash Select card. This is a nice perk that helps the card compete with others that may offer more rewards. None of your cash back will be cancelled out by the cost of an annual fee.
The $0 annual fee also applies to employee credit cards. So you can assign credit cards to your employees without extra fees. You can also set custom credit limits for each card, as well as monitor spending by tracking transactions as soon as they post to the account.
No foreign transaction fees
One great thing about Capital One credit cards is that they don’t charge foreign transaction fees, and this includes the Capital One Spark 1.5% Cash Select.
Some card issuers charge up to 3% on foreign transactions, which can include:
- Purchases made in a foreign currency
- Purchases that route through a foreign bank
With no foreign transaction fees, you don’t need to worry about using your card while traveling abroad. You also won’t need to worry about extra card fees when you make purchases with foreign suppliers that route through their home banks.