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Spark 1.5% Cash Select for Excellent CreditReview: Is the Capital One Spark Cash Select for Excellent Credit the best credit card for you?

Capital One is making a big push to be the go-to choice for aspiring entrepreneurs with the announcement of three new Spark card offerings, and one of them – the Spark 1.5% Cash Select for Excellent Credit – is designed to deliver what every business needs: cash.

Read more: The best small-business credit cards of 2021

For every purchase you make on the card, you’ll earn 1.5% cash back. There are no minimums and no expiration dates, which lets you focus your energy on your business instead of ever thinking about earning limitations once you cross a certain spending threshold.

There is no annual fee for the Spark 1.5% Cash Select for Excellent Credit, and there’s a welcome offer of a Spark 1.5% Cash Select for Excellent Credit.

So, think about your upcoming business expenses: If you have to book some flights or purchase some pricey office equipment in the near future, that bonus may be within easy reach.

Who should and shouldn’t consider the Capital One Spark Cash Select for Excellent Credit

Capital One makes it easy to understand how the bank perceives your past financial decisions with a simple description of the key components that make up “excellent” credit:

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No bankruptcy declarations or loan defaults
No payments on credit cards, medical bills, or loans that are more than 60 days late in the past year
A loan or credit card with a credit limit above $5,000 that has been open for the past three years

If you don’t check all those boxes, Capital One has a Spark 1.5% Cash Select for Good Credit that might be a better fit – there’s no welcome bonus, though, but it does offer an introductory 0% APR on purchases for the first 12 months of account opening (then a Spark 1.5% Cash Select for Good Credit).

If you can satisfy all those requirements, it’s time to think about your expectations from a credit card. If you want luxury travel benefits and you’re willing to shell out a sizable annual fee each year, this isn’t for you – you may be better off with a premium card like The Business Platinum Card® from American Express.

Even if you don’t have a full-time or traditional business, you could still qualify for a small-business credit card. Side gigs, freelance work, or even work like driving for Uber and Lyft could make you eligible.

However, if you’re looking for an entry-level card with a straightforward rewards structure, the Spark 1.5% Cash Select for Excellent Credit should be on your list. …read more

Source:: Business Insider


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