Do you or your team take frequent work trips? Do you own a small business and want to earn simple rewards? Capital One offers business cards for your basic and value-added needs. Our list of the best Capital One business rewards credit cards will help you choose the best and cost-effective option.
Our Top Capital One Business Rewards Credit Cards Reviews
The best Capital One business rewards credit cards include options for small to large businesses. You can select one based on your revenue and expenses.
- Best altogether: Spark 1.5% Cash Select
- Best for big businesses: Spark 2% cash Plus
- Best for travel-centric businesses: Spark 1.5X Miles Select
Best Business Rewards Card Altogether: Spark 1.5% Cash Select
We found the Capital One Spark 1.5% Cash Select the best business rewards card because of its affordability. Also, you can fulfill its spending requirements quickly whether you run a small, medium, or large business.
As an extra perk, you can assign an accountant to make transactions on your behalf. They will review each transfer and resolve any issues regarding your finances. Alternatively, you can select the bank’s auto pay service to avoid the hassle of remembering to pay on time.
Fees
You don’t pay an annual fee for this card, making it cheaper than the Spark 2% Cash Plus. You are exempt from paying a foreign transaction fee, too. Although you incur an APR between 18.49% and 24.49%, you can avoid it by clearing your monthly statement balance.
Rewards
You earn:
- Unlimited 2% cash back on every purchase.
- Unlimited 5% return on booking hotels and rental cars through the Capital One Travel portal.
- You also earn a welcome bonus of $750 if you spend $6,000 in the first three months.
Pros
- No annual fee reduces overhead costs for businesses.
- The welcome offer is easily attainable even if you are a small business.
- The simple reward structure makes it easy to understand and manage earnings.
- Free employee cards linked to your primary card can track and earn rewards from employee spending.
Cons
- A flat-rate cash back might not benefit companies with high spending in specific categories.
- You might find the initial spending threshold for the cash bonus somewhat high.
Best Rewards Card for Big Businesses: Spark 2% Cash Plus
The Capital One Spark 2% Cash Plus card stands out for large businesses due to its:
- High annual fee
- Spending requirements
- Pay off protocols
Although you may find it expensive, you get added value like every Capital One card. You can set up customized alerts for payments and detection of suspicious activity. You also get year-end summaries to calculate your annual expenses to see whether you met your goals.
Since it is a Visa, you can claim amenities like travel accidents and emergency assistance. You can also claim purchase security and extended warranty like any other Visa card.
Fees
Spark 2% Cash Plus is the most expensive card on this list. You pay a $150 annual fee here. However, the bank reimburses it if you spend $150,000 annually.
Additionally, you don’t pay a foreign transaction fee like other Capital One cards. Also, you can not accumulate debt as the Spark Cash Plus is a pay-in-full card.
Rewards
This card offers a simple yet effective rewards program. You earn:
- Unlimited 2% cash back on every purchase.
- Unlimited 5% return on booking hotels and rental cars through the Capital One Travel portal.
- You also earn a welcome bonus of $1,200 if you spend $30,000 in the first three months.
Pros
- You earn unlimited cashback on every purchase. There are no categories to track and no caps on earnings.
- Businesses can issue cards to employees at no extra cost. This allows them to earn rewards on their spending as well.
- You get an annual cash bonus for spending above a certain threshold. It is rewarding for higher-spending businesses.
- The card is suitable for international travel as there are no fees for foreign transactions.
- You don’t accumulate debt with this card as it’s a pay-in-full card.
Cons
- You pay a high annual fee. It may be too much for businesses with lower spending that wouldn’t offset the cost with cashback.
- Unlike other business cards, the Spark 2% Cash Plus is a pay-in-full. Businesses that want to carry a balance may not find this feature attractive.
- The card has fewer perks than other premium business cards offering travel benefits or purchase protections.
Best Rewards Card for Travel-Centric Businesses: Spark 1.5X Miles Select
Like other Capital One business cards, you need an excellent credit score to apply for the Spark 1.5X Miles Select. It is a standout choice for businesses with a focus on travel. You can transfer your rewards towards the bank’s 15+ flight and hotel partners, allowing you to travel for work at an affordable price.
You also get business and travel-specific benefits like:
- Virtual card numbers for online purchases allow you to keep your original number safe from scammers.
- Free employee cards linked to your card. They are allotted separate card numbers, allowing you to keep your main card number safe and earn more rewards.
- Customized spending limits on employee cards can help you track total spending.
- Rental collision coverage is available if you refuse the rental company’s insurance at the counter.
Fees
The fee structure for this card is simple. You pay:
- Annual fee: $0
- Foreign transaction fees: $0
- Balance transfer fee: 4% of the amount of each transfer.
Like a few other Capital One cards, you don’t get an intro APR period here. That said, you don’t incur the maximum interest, too. You are charged a variable 18.49% – 24.49% on purchases.
Rewards
Capital One has a no price cap policy for its cards. You earn:
- Unlimited 1.5x miles per dollar on every purchase.
- Unlimited 5x miles per dollar on booking hotels and rental cars through the Capital One Travel portal.
- You also earn a welcome bonus of 50,000 miles if you spend $4,500 in the first three months of account opening. You can achieve this goal easily compared to the Spark 1.5% Cash Select because of its low spending limit.
Pros
- $0 annual and foreign transaction fees double this card’s appeal for frequent travelers.
- Unlimited reward miles on all purchases make accumulations straightforward and consistent.
- Flexible redemption options allow businesses to maximize the value of miles earned.
- You can transfer miles to Capital One’s travel partners for affordable work trips.
Cons
- Unlike some of its competitors, this card does not offer higher earning rates for specific categories.
- You get limited additional premium travel benefits compared to some travel-centric business cards with annual fees.
Features to Consider for Capital One Business Rewards Cards
Business cards differ slightly from personal cards regarding fees and earning margin. The following are a few features you must consider before choosing a Capital One business card.
| Annual Fee | APR | Rewards | |
|---|---|---|---|
| Spark 1.5% Cash Select | $0 | 18.49% – 24.49% | Unlimited 1.5% cash back on purchases |
| Spark 2% Cash Plus | $150 | Pay-in-full | Unlimited 2% cash back on purchases |
| Spark 1.5X Miles Select | $0 | 25.74% (variable) | Unlimited 1.5 miles per dollar on purchases |
Fees
Look for as low card fees as possible. You don’t want to add to your business expenses if you can avoid it. Cards like Spark 1.5% Cash Select with a $0 annual fee are suitable for small to medium businesses.
Rewards
Try to get a high-earning card for business expenditure. Although Capital One’s business cards offer flat-rate rewards, Spark 2% Cash Plus offers the highest reward percentage.
Extra benefits
You can maximize your card’s value by availing the added benefits the bank’s cards offer. You can claim roadside and travel accident assistance on cards like the Spark 1.5X Miles Select.
Related Questions
Can I Have 2 Capital One Business Credit Cards?
Yes, you can have two business cards. Capital One allows applicants to manage multiple accounts, offering flexibility in credit options and rewards. However, you must be careful not to get too many cards – a pile of debt won’t do your business any good.
What Is the Starting Limit for a Capital One Business Credit Card?
The starting credit limit for a Capital One business credit card can vary widely. The bank determines initial credit limits based on an applicant’s creditworthiness and business revenue. Their FICO score also counts.
How Many Credit Cards Is Too Many for a Business?
There isn’t a universal limit on a business’s number of credit cards. However, overextending credit across too many accounts can be risky. You must maintain a manageable number of cards to suit your spending needs. This is important because every card application puts a hard strain on your card, which can affect your credit score.
Conclusion
We found the Spark 1.5% Cash Select to be the best business rewards card because of its affordability and added benefits. However, you can go for the Spark Cash Plus if you have a high-spending business. If you travel frequently for work, we’d highly recommend considering the Spark 1.5X Miles Select.