Capital One Spark Cash Select Pros & Cons
- My favorite feature of this card is that there's no annual fee. While other business credit cards waive the fee for the first year, you'll never be charged an annual fee with Spark Cash Select.
- Although it isn't the highest in the industry, the 1.5% unlimited cash-back rate is still quite generous. In fact, it’s the highest flat cash-back rate I’ve seen on a card with no annual fee.
- Spark Cash Select includes quarterly and year-end reports for every cardholder. You’ll receive a customized and itemized summary of your purchases, which makes planning and analyzing your budget much easier.
- Only customers with excellent credit can get a Spark Cash Select card. This means you’ll likely be ineligible if you’ve made any late payments, have a limited credit history, etc.
- Spark Cash Select's APR varies based on your creditworthiness -- which could really be a pro or a con depending on your credit history and financial status. Just keep in mind that your APR could be as high as 21.99% (or as low as 13.99%).
Capital One Spark Cash Select Fees & Features
In addition to the fact that it doesn't come with an annual fee, Spark Cash Select has a lot of attractive features to offer. Let’s take a quick look at how this card is advertised on the Capital One website, then we'll get into the specifics.
Among the features that would come in handy for any entrepreneur are:
- No annual fee
- Unlimited 1.5% cash back on all purchases
- $200 cash bonus after spending $3,000 in first 3 months
- 9-month 0% introductory APR period (then variable APR based on creditworthiness)
- No foreign transaction fees
- Zero-liability fraud coverage
All told, this is a well-balanced collection of low fees and strong rewards. The only issue that stands out as a potential negative is that Spark Cash Select is known for being a rather low-limit business credit card. The standard credit limit is $2,000, and according to their customer reviews it’s very difficult to get Capital One to raise that limit once it’s set.
It isn’t common to find credit card reviews on 3rd-party review aggregate sites. However, Capital One’s website has in-depth feedback forums for each of their products.
From these reviews, I’ve noticed that most cardholders seem to really appreciate the Spark Cash Select card, with customers frequently commenting on the card’s great rewards and ease of use. On the other hand, some cardholders are frustrated with its low credit limit.
Customer Reviews Section Last Updated 11-8-17
- CapitalOne.com: 4.4/5, 481 reviews
Conclusion: Aside from those who need higher credit limits, it seems that nearly all Spark Cash Select cardholders are pleased with the card. Based on its high average rating, we can surmise that most customers would recommend Spark Cash Select!
How Capital One Spark Cash Select Compares
Throughout the course of my research on this subject, I’ve become a big fan of the Spark Cash Select card -- but it's obviously not the only worthwhile business credit card out there. With that in mind, let’s see how it compares to the original Spark Cash card, another Capital One product with some crucial differences:
Fees: The standard Spark Cash card charges a $95 annual fee (after your free first year), while Spark Cash Select has no annual fee. When it comes to foreign transactions, neither card will charge you a fee.
Cashback: Spark Cash offers 2% unlimited cash back, which is a step up from Spark Cash Select’s 1.5% unlimited cash-back offering.
Bonuses: With the original Spark Cash, you can get $500 after spending $4,500 in the first 3 months. Spark Cash Select offers a $200 cash bonus after making $3,000 in purchases in 3 months.
APR: Spark Cash offers an APR of 17.99% for all approved customers. Spark Cash Select has a variable APR based on creditworthiness, which means your rate will fall somewhere between 13.99% and 21.99%.
Here's A Quick Visual
Spark Cash Select
Service Charge Starts at $0
1.5% unlimited cash back
Perfect for: Anyone looking for a card with great rewards and no annual fee
Service Charge Starts at $95/year
unlimited 2% cash back
Perfect for: Anyone looking for a card with a high cash-back rate and flat APR
Frequently Asked Questions
Do They Provide Fraud Protection?
Absolutely! With Capital One Spark Cash Select, you'll get some peace of mind with their complete fraud protection. If your card is lost or stolen, you'll have no liability for any charges. They'll also send you timely notifications of suspicious activity.
Is It Easy to Get Cards for My Employees?
It honestly doesn’t get much simpler. You can get employee cards at no extra cost, and it’s really easy to manage them through Capital One’s online tools. You’ll also earn rewards from purchases made on their cards, just like you would with your own.
Are There Any Special Features?
Yes! As I mentioned, their convenient quarterly and year-end summaries make it much easier to keep track of your company’s budget.
Should You Use Capital One Spark Cash Select?
Capital One Spark Cash Select earns a score of 4.3/5 in our book. They offer a generous cash-back rate and decent bonuses without charging an annual fee. Ready to get started with Spark Cash Select? Need to take some more time to review the alternatives? Either way, simply use the buttons below!