Most small business owners appreciate any opportunity to obtain additional cash. The Capital One Spark Cash Business card provides one of the more generous cash back programs. But high fees and a steep penalty APR can wipe out any potential savings.
Who Is the Capital One Spark Cash Business Card Designed For?
The Capital One Spark Cash Business Card is designed for business owners and entrepreneurs. It is not a general consumer card, nor is it intended for students.
Are There Annual Fees?
There are no annual fees the first year. After the first year, the annual fee is 59 dollars.
Does the Capital One Spark Cash Business Card Offer Rewards?
Cardholders receive 2 percent cash back on all purchases, plus a one-time bonus of 50 dollars for adding one or more employee cards during the first 60 days after opening an account. There are no limits on cash back awards, and cash back awards never expire. Cardholders also benefit from 0 dollar fraud liability, 90-day purchase protection, extended purchase protection, travel and emergency assistance and auto rental collision damage waiver protection.
Are There Foreign Transaction Fees?
There are no foreign transaction fees.
Are There Late Payment or other Penalty Fees?
Late payments are charged 39 dollars. Cash advances are charged either 10 dollars or 3 percent of the total transaction, whichever is greater. There are no fees for balance transfers, returned credit or going over your assigned credit limit.
If you love cash back and a straightforward rewards program, the Capital One Spark Cash Business Card is tailor made for you. Especially if you are diligent about maintaining on-time payments and can qualify for the lowest APR, you could reap significant savings from this card. But if you're lax about paying on time, the steep penalty APR could wipe out much if not all potential savings you would otherwise gain.