Running a small business comes with its own set of perks, including the opportunity to earn rewards through business credit cards. Capital One Spark Cash Plus and Ink Business Cash are two leading options in the small business card market, offering impressive welcome bonuses and high earning rates. Whether you need a card for everyday business expenses or want to use your rewards for travel, it’s important to understand the differences between these two cards to make an informed decision.
How the cards stack up
While both Capital One Spark Cash Plus and Ink Business Cash offer valuable benefits, they have distinct features that set them apart. One key difference is the earning rates of each card and their ability to carry a balance. Capital One Spark Cash Plus does not allow carrying a balance, while Ink Business Cash offers an introductory 0% APR on purchases for a limited time. Additionally, Ink Business Cash is particularly beneficial for spending at office supply stores, which may not be relevant to all small businesses.
Welcome bonus
When it comes to the welcome bonus, Ink Business Cash offers one of the highest bonuses among no annual fee credit cards on the market. The bonus amount of Capital One Spark Cash Plus is significantly higher, but it requires meeting tiered minimum spending requirements.
In terms of accessibility and ease of earning the bonus, Ink Business Cash takes the lead with its generous welcome bonus.
Rewards
Both Capital One Spark Cash Plus and Ink Business Cash are cash-back earning cards, but their rewards go beyond just cash. Capital One Spark Cash Plus allows you to convert cash back into Capital One miles if you have another Capital One miles-earning credit card. This opens up the opportunity to transfer your rewards to Capital One airline and hotel partners.
On the other hand, Ink Business Cash earns Chase Ultimate Rewards points, which can be redeemed for cash back or transferred to Chase airline and hotel partners if you also have a fee-incurring Chase Ultimate Rewards credit card.
The winner in this category largely depends on your personal travel style and preferences, so we’ll call it a tie.
Annual fee
Capital One Spark Cash Plus charges an annual fee, meaning you’ll need to spend a certain amount to offset the fee before making a profit. In contrast, Ink Business Cash does not have an annual fee, making it the clear winner in this category.
APR
When it comes to the APR, Ink Business Cash offers an introductory APR rate for a limited time, followed by a variable APR based on your creditworthiness. Capital One Spark Cash Plus, on the other hand, is a charge card that requires you to pay off your balance in full each month.
Although it’s always recommended to pay off your card balance in full, Ink Business Cash wins this category due to its option to carry a balance interest-free for a limited time.
Foreign transaction fee
If you frequently travel outside the U.S., Ink Business Cash would be the better option as it waives foreign transaction fees. Capital One Spark Cash Plus, on the other hand, charges foreign transaction fees.
For those who travel internationally, Ink Business Cash is the clear winner in this category.
Additional perks
Both cards offer limited ongoing benefits. Capital One Spark Cash Plus provides a $200 cash bonus each year for spending over a certain threshold, secondary rental car insurance, and purchase/extended warranty protection. Ink Business Cash offers primary rental car insurance (for business purposes), purchase protection, and extended warranty protection.
Overall, Ink Business Cash comes out on top with its improved purchase protection and rental car insurance.
Which business card earns the most
The card that earns you the most rewards will depend on your specific spending habits. For high-spending businesses, Capital One Spark Cash Plus may outperform Ink Business Cash due to its flat 2% earning rate on most purchases. However, for smaller businesses, Ink Business Cash may work better due to its bonus categories and lack of annual fees.
In most cases, Ink Business Cash will likely be the better option for many types of businesses. It offers fewer bonus categories to manage, and if you’re a big spender, Capital One Spark Cash Plus may be a better fit.
Our recommendations
We recommend Ink Business Cash for most situations due to its versatility and benefits. It is a traditional credit card that allows carrying a balance if needed, doesn’t charge an annual fee, and offers primary rental car insurance. Additionally, its welcome bonus is substantial with a relatively small spending requirement.
However, if you’re a high spender or frequently travel abroad, Capital One Spark Cash Plus may be the better choice. With a flat 2% earning rate and no preset spending limit, it can be a lucrative option. It also waives foreign transaction fees.
Bottom line
Capital One Spark Cash Plus and Ink Business Cash are both excellent small business cards, but the right choice depends on your specific spending habits and needs. Considering their different earning rates and features, carefully evaluate which card aligns better with your business requirements. Don’t hesitate to try both cards to take advantage of their welcome bonuses and determine which one suits you best.
Frequently asked questions (FAQs):
- Which other business credit cards have a $0 annual fee?
There are various small business credit cards with no annual fees. An alternative to Ink Business Cash is the Personal Finances Blog card, which offers similar benefits, including a robust welcome bonus and earning rates. - Is the Capital One Spark Cash Plus hard to get?
While a credit score as low as 670 may be approved for the Capital One Spark Cash Plus, it’s important to have a credit score of at least 700 when applying for rewards credit cards to increase your chances of approval. - What credit score do you need to get the Ink Business Cash?
Similar to the Capital One Spark Cash Plus, a credit score of at least 670 would give you a good chance of being approved for the Ink Business Cash. However, it’s always recommended to have a credit score of at least 700 to strengthen your application.
For Capital One products listed in this article, certain benefits are provided by Visa® or Mastercard®, and their terms may vary by product. Please refer to the respective Guide to Benefits for specific details and exclusions.