The Capital One Spark Cash Visa is a business credit card that usually comes with a decent sign-up bonus around $500 but there’s now a new public offer for $1,000 that’s definitely worth considering.
- Earn a $1,000 bonus if you spend at least $10,000 within 3 months of your rewards membership enrollment date
- Unlimited 2% cash back on every purchase, every day
- $0 intro for the first year, $59 after that
- Your rewards are yours for the life of the account—they will not expire
The Capital One Spark Cash Visa is a pretty straight-forward cash back credit card. It earns a flat 2% on all purchases and comes with a $59 annual fee that is waived the first year, so it’s sort of like the business version of the Venture. The 2% back isn’t tremendous because you could find a no annual fee credit card like the Citi® Double Cash Card that offers 2% back on all purchase. However, the big prize winner with this card is the ridiculous sign-up bonus of $1,000.
The drawback is that the minimum spend requirement is very high at $10,000 and Capital One is not giving any additional time to hit the sign-up bonus so you need to have a plan in mind in order to ensure that you can spend $10,000 in only three months. If you don’t have a plan for hitting that $10K, I’d think twice about applying.
It’s also worth keeping in mind that this is a Capital One card so if you apply for it you will likely incur a hard pull on all of your credit bureaus. In the past, some would freeze their Experian credit report to save a ding but recently that method has caused some issues for some people, so I’m not sure that I would do it.
Also, Capital One business cards typically show up on your personal credit report. So if you were trying to remain under 5/24, this may not be the business card you want to apply for. And don’t forget, Capital One usually limits you to one credit card approval per 6 months (even business cards count).