New Capital One Spark Cash Plus Charge Card
Capital One has officially launched a new Spark charge card. The Capital One Spark Cash Plus is different from its siblings as it has no fixed spending limit and you must pay your balance in full every month.
There’s also a big signup bonus of up to $1,000 and you earn 2% cash back on every purchase you make with your business card. The Capital One Spark Cash Plus Credit Card comes with a $150 annual fee.
The new card replaces the old Capital One Spark Cash for Business card, which is now no longer available for new applicants (if you have the Spark Cash card, you get to keep it for now).
Let’s get into the details of this new card offering from Capital One.
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The Bonus
Apply now for the Capital One Spark Cash Plus Credit Card and get a $1,000 Cash Bonus within the first six months of card membership. Here’s how this bonus works:
- Get $500 once you spend $5,000 in the first 3 months.
- Get an additional $500 once you spend $50,000 in the first 6 months.
- $150 Annual Fee
You also earn an annual $200 cash bonus if you spend $200,000 or more annually.
Card Details
Capital One Spark Cash Plus is a charge card with no preset limit. How much you can spend is determined by several factors, such as spending history, credit score etc.. There’s no APR, because your balance is due in full every month. If you don’t pay in full at the end of the month you are charge a late fee of 2.99% on your outstanding statement balance.
Here are some of the card’s features:
- Earn unlimited 2% cash back for your business on every purchase, everywhere, no limits or category restrictions.
- Earn an annual $200 cash bonus every year you spend $200,000 or more.
- No Preset Spending Limit
- No foreign transaction fees
- Free employee cards
Conclusion
Capital One has refreshed its business credit card lineup with two Spark 1.5% Cash Select card and this Spark Cash Plus card. The latter replaces the Spark Card which is now no longer available to new applicants.
Spark Cash Plus comes with a big bonus of $1,000 but you also need to spend a large amount. You get $500 once you spend $5,000 in the first 3 months and an additional $500 once you spend $50,000 in the first 6 months. We saw a $1,200 bonus before the card was officially launched, which might be worth waiting for.
If you can manage to spend $200,000 or more within a year, you can get another $200 bonus, which is an annual benefit. Besides that, the card earns a straightforward 2% cash back. Employee cards are free and there are no foreign transaction fees.
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“You also earn an annual $200 cash bonus if you spend $200,000 or more annually.”
Every year, really??!!?