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Among business credit cards, generous flat-rate rewards are hard to find, but the Capital One Spark business credit cards are a glowing exception. All Capital One business credit cards offer fixed-rate rewards on all purchases, and they don't have minimum redemption requirements.
The only trouble is, these cards look almost identical, and it can be difficult to tell which one would best suit your business.
The big choice: Travel vs. cash-back
The Spark cards fall into two major buckets: travel rewards cards, which are blue, and cash-back cards, which are green or gold.
Generally, travel cards tend to offer bigger sign-up bonuses than cash-back cards, but this isn't the case with the Spark cards. The Spark cash-back and travel cards that have equal annual fees carry sign-up bonuses of equal cash value.
For that reason, the Spark cash-back cards, which have greater redemption flexibility, are the better deal for most people. Cash-back rewards can be redeemed as a check or statement credit, making it easy to use them however you want. But miles, which are worth 1 cent each, can be redeemed only for travel — either for booking trips directly through Capital One's travel portal or as statement credit against travel purchases.
That said, you might be interested in a travel card if you're looking for a way to earmark rewards for vacation. It's just a matter of preference.
Like all Capital One credit cards, Spark cards don't charge foreign transaction fees. Here's a look at how the different cards compare with one another in other ways.
The no-annual-fee travel card: Spark Miles Select
Annual fee: $0
Type of rewards: Miles
Earn rate: 1.5 miles per dollar spent on all purchases
Type of credit needed: Good or excellent
Sign-up bonus: Earn a one-time bonus of 20,000 miles - equal to $200 in travel - once you spend $3,000 on purchases within the first 3 months from account opening.
0% APR promotion? Yes — 0% on Purchases for 9 months, and then the ongoing APR of 13.99% - 23.99% Variable APR.
Other benefits: Can transfer miles to several partner loyalty programs.
Good for: Frugal entrepreneurs looking for travel rewards, or people looking for a long 0% APR period. If your expenses are on the low side, this is one of the best business credit card deals available.
Not good for: Big spenders. If you spend more than $19,000 a year, you'd be better off with the Capital One Spark Miles for Business, which has an annual fee.
The travel card with the high rewards rate: Spark Miles
Annual fee: $0 intro for the first year, then $95
Type of rewards: Miles
Earn rate: 2 miles per dollar spent on all purchases
Type of credit needed: Good or excellent
Sign-up bonus: Earn a one-time bonus of 50,000 miles – equal to $500 in travel – once you spend $4,500 on purchases within the first 3 months from account opening.
0% APR promotion? No — The ongoing APR is 26.24% Variable APR.
Other benefits: Comes with a reimbursement credit for a TSA Precheck or Global Entry application fee; can transfer miles to several partner loyalty programs.
$95
Good for: Small business owners looking for high flat-rate travel rewards and a big sign-up bonus. For some, this could be an economical way of setting aside money for vacation.
Not good for: Entrepreneurs who spend less than $19,000 a year, or people looking for more flexible redemption options. These people would be better off with the $0 fee version, the Capital One® Spark® Miles Select for Business, or a cash-back card.
The no-annual-fee cash-back card with a bonus: Capital One Spark Cash Select for Excellent Credit
Annual fee: $0
Type of rewards: Cash back
Earn rate: 1.5% cash back on all purchases; 5% cash back on hotels and rental cars booked through Capital One Travel
Type of credit needed: Excellent
Sign-up bonus: Earn a $500 bonus when you spend $4,500 in the first 3 months of account opening.
0% APR promotion? No — The ongoing APR is 18.49%-24.49% Variable APR.
$0
Good for: Entrepreneurs with low expenses looking for easy-to-redeem rewards. The cash-back rewards can be redeemed as a check or a statement credit.
Not good for: Business owners with high expenses. If you spend more than $30,000 a year, you might want the fee version, the Capital One Spark Cash Plus, instead.
The no-annual-fee cash-back card with an intro APR: Capital One Spark Cash Select for Good Credit
Annual fee: $0
Type of rewards: Cash back
Earn rate: 1.5% cash back on all purchases; 5% cash back on hotels and rental cars booked through Capital One Travel
Type of credit needed: Good
Sign-up bonus: No.
0% APR promotion? Yes — 0% intro APR on Purchases for 12 months, and then the ongoing APR of 21.24%-29.24% Variable APR.
$0
Good for: Entrepreneurs with good — but not excellent — credit who want easy-to-redeem rewards and to pay off new purchases without interest.
Not good for: Business owners who want to be rewarded with cash for those new purchases; this offer doesn't come with a sign-up bonus.
The cash-back card with the high reward rate: Spark Cash Plus
Annual fee: $150
Type of rewards: Cash back
Earn rate: 2% cash back on all purchases
Type of credit needed: Good or excellent
Sign-up bonus: Earn a one-time cash bonus of $1,200 once you spend $30,000 in the first 3 months.
0% APR promotion? No — N/A.
$150
Good for: Entrepreneurs looking for the best flat-rate cash-back rewards and the biggest sign-up bonus possible. The Capital One Spark Cash Plus offers much more redemption flexibility than its travel counterparts, as well as a potentially larger sign-up bonus.
Not good for: Small business owners with inconsistent cash flow. You'll have to spend a lot to get that bonus, but the Capital One Spark Cash Plus is a charge card, not a credit card. That means you'll have to pay your balance off in full every month.
The card for business owners with fair credit: Spark Classic
Annual fee: $0
Type of rewards: Cash back
Earn rate: 1% cash back on all purchases
Type of credit needed: Fair
Sign-up bonus: None.
0% APR promotion? No — The ongoing APR is 26.99% Variable APR.
Good for: Entrepreneurs who are building or rebuilding their credit. The Capital One® Spark® Classic for Business doesn't offer much in the way of rewards, but it's one of the few business credit cards targeted toward people with fair credit.
Not good for: Business owners who plan to carry a balance long-term. While the APR is lower than some alternative types of financing, it can still add up quickly.
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