2023 Review: Capital One Spark Cash Plus

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Snapshot: The Capital One Spark Cash Plus is ideal for small business owners with excellent credit. No preset spending limit and a great intro bonus. There’s a annual_fees annual fee, but you could have the annual fee refunded if you spend upwards of $150,000 a year.

ProsCons
No preset spending limitAnnual fee of annual_fees
2% cash back rewards on all purchasesMust pay the full balance each period
5% cash back on certain travel expenses booked through Capital One TravelMust have credit_score_needed credit to qualify
bonus_miles_full
Capital One travel rewards, including TSA pre-check and Capital One Lounge

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Full Review of Capital One Spark Cash Plus

As far as business credit cards go, the Capital One Spark Cash Plus offers a nice balance of features. You get a flat cash back rate of 2% across all spending categories and you get an intro offer of bonus_miles_full. Most importantly you have no preset spending limit – your spending limit adjusts on a month-to-month basis. (This means you will have to pay your card balance in full every month, heads up).

So who is this card for? This is a great card if you’re a business owner, with excellent credit, who may have inconsistent expenses month-to-month and needs that spending limit flexibility and flat cash-back rate across all categories.

This is probably not an ideal card for someone who is looking to spread out their purchases with a credit card, or is anticipating spending less than $150,000 on business expenses in a year and can’t earn a refund on the annual fee. 

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What You’ll Like About This Card

No Preset Spending Limit

Like we said above, Capital One Spark Cash Plus has no preset spending limit (or NPSL). What this means is that unlike a traditional credit card, the credit card doesn’t have a fixed credit limit. This can be helpful for a couple of reasons:

  1. Flexibility – NPSL provides businesses with flexibility in managing their expenses. For example, if there’s an important purchase that you have to make, or an emergency comes up, you could temporarily exceed your traditional credit limit.
  2. Fluctuating Cash Flow – If income is unpredictable from month-to-month, you could lean on your credit card to stretch to cover that loss. This is great if you own a business in an industry that’s heavily affected by seasonality, like tourism or hospitality.
  3. Maximize your cash back – A NPSL feature combined with unlimited cash back rewards means that your cash back rewards aren’t capped by your credit limit. 

With that being said, not having a fixed credit limit doesn’t mean you have an unlimited credit limit. Your credit limit will still be dependent on your creditworthiness, payment history, and purchasing behavior. (You need credit_score_needed credit just to qualify for this card).

Like what you see? Learn how to apply for Capital One Spark Cash Plus!

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Cash Back Rewards

Let’s talk about the cash back rewards. You get a flat rate of 2% cash back on all purchases, which is nice if your purchasing is varied and you don’t want to have to track spending categories.

You can also get 5% cash back when you book certain travel reservations – like rental cars or hotels – through Capital One Travel. You also get plenty of travel benefits, such as TSA precheck services and access to the Capital One Lounge.

The Drawbacks

No Balance Carryover

Capital One Spark Cash Plus is a charge card, which means you have to pay the balance off in full. So while you don’t have to worry about paying down interest or accumulating credit card debt, you would have to worry about paying a late fee if you didn’t pay off the total balance. With this card, you can be subject to a late fee of late_payment_fee.

Annual Fee

This card does have a annual_fees annual fee, which is in the higher end for small business credit cards but definitely in the middle of the range when considered against the full list of business credit cards.

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Is It Worth It?

Capital One Spark Cash Plus can be a good option for business owners who want an uncomplicated cash back card that can accommodate fluctuating monthly business expenses. However, if you’re looking for a credit card that has a 0% intro APR or can help you spread large purchases out over a longer period of time, you may want to look elsewhere.

Capital One Spark Cash Plus FAQ

What Are The Credit Limits For Capital One Spark Cash Plus?

The Capital One Spark Cash Plus is a charge card that comes with no minimum or maximum credit limit. Instead, the card adjusts monthly to match your personal spending habits. 

How Soon Can I Increase My Spending Limit After Being Approved For A Capital One Spark Cash Plus Credit Card?

Since the Capital One Spark Cash Plus is a charge card, it automatically increases as your spending habits shift from month to month. 

How Good Is A Capital One Spark Cash Plus Credit Card For Building Credit?

While it’s possible to use good payment behavior from purchases made with the Capital One Spark Cash Plus Card to improve your credit, we wouldn’t necessarily call this a credit-building card because you will need to have excellent credit to qualify. If you’re interested in credit-building cards, we got you covered.

Like what you see? Learn how to apply for Capital One Spark Cash Plus!


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