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Capital One Spark 2% Cash Plus vs Capital One Spark 1.5% Cash Select 2023

investor.com

Written by investor.com

In head-to-head competition, which of these rewards credit cards wins out? Here’s what each has to offer and how they fare when put to the ultimate test — the cash back you’ll earn for using them.

Capital One Spark 2% Cash Plus
Earn 2% unlimited cash back on all purchases, plus 5% cash back on hotels and rental cars booked through Capital One Travel.

Capital One Spark 1.5% Cash Select
Earn unlimited 1.5% cash back for your business on every purchase, no limits or category restrictions. Plus, earn a $500 cash bonus when you spend $4,500 in the first three months.

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dining Dining
local_gas_station Gas
monetization_on Other
card_travel Travel
phone_iphone Cell Phones
print Office Supplies

Capital One Spark 2% Cash Plus

Capital One Spark 2% Cash Plus Logo
Cash Back Per Year
$...
Annual Fee
$150
Welcome Bonus
1000
Apply Now on Capital One's secure website

Capital One Spark 1.5% Cash Select

Read review
Capital One Spark 1.5% Cash Select Logo
Cash Back Per Year
$...
Annual Fee
$0
Welcome Bonus
$500
Apply Now on Capital One's secure website
Want to compare more cards? Use our full calculator.
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Which credit card earns more cashback overall?

Based on identical spending inputs, you’ll earn $619.20 cashback per year with Capital One Spark 2% Cash Plus and $464.40 with Capital One Spark 1.5% Cash Select. For context, the average annual rewards payout from the business rewards credit cards in the investor.com database is $181.73.

The annual rewards payout assumes you charge $2,580 each month spread across the following spending categories: Cell Phones ($516), Dining ($516), Gas ($258), Office Supplies ($387), Travel ($387), and Other ($516). The dollar amounts for each category are based on average small-business spending data (how much business spend proportionally in each category) from the U.S. Bureau of Labor Statistics and other sources. We encourage you to use our business card rewards calculator to customize the amounts based on your business’s actual spending patterns.

To ensure the most accurate results possible, the rewards calculations for Capital One Spark 2% Cash Plus and Capital One Spark 1.5% Cash Select incorporate bonus rewards rates, spending caps, default rewards rates and annual fees, where applicable.

Is the Capital One Spark 2% Cash Plus good?

Stop reading now if you ever carry a balance on your biz card. (Balances must be paid in full each month or you’ll shell out a 2.99% late fee.) Still here? The $150 annual fee on the Capital One Spark 2% Cash Plus card buys you a rewards rate upgrade from the 1.5% no-fee Spark cards. It also features a more flexible credit limit than a typical credit card because it’s a charge card (translation: balances must be paid in full each month).

thumb_up Likes

  • 2% unlimited cash back, no caps, no category restrictions
  • $500 welcome bonus on $5,000 spent in first three months (that’s 10% cash back)
  • Lack of a preset spending limit is convenient for businesses that have big expenses
  • Multiple reward redemption options; reward transfers allowed between certain Capital One rewards accounts
  • No foreign transaction fees
  • 5% cashback on hotels and rental cars booked through Capital One Travel

thumb_down Dislikes

  • Balance must be paid in full when statement is received, as in minimum payment = your entire balance
  • 2.99% late payment fee applies to balances not paid in full
  • Just to be crystal clear: This. Is. A. Charge. Card. Not a credit card
  • Spending limit may vary, based on your credit/payment history and spending behavior
  • Additional $500 welcome bonus (if you spend at least $50,000 in the first six months) equates to 1% cash back
  • Requires spending $200K a year to earn the $200 annual bonus


Category Default Rate Bonus Rate Bonus Spend Cap Bonus Spend Period (Months)
Cell Phone - - - -
Dining 2.00% - - -
Gas 2.00% - - -
Travel 2.00% - - -
Office Supplies - - - -
Other Purchases 2.00% - - -

Is the Capital One Spark 1.5% Cash Select good?

Only those with excellent credit need apply for this $0-annual-fee card. With that you’re eligible for a $500 sign-up bonus, which, like the 1.5% cashback rate, is good but not 🤯.

thumb_up Likes

  • 1.5% cashback on everything, no caps, no category restrictions
  • $500 cash bonus up for grabs
  • Cash back is redeemable at any time for any amount
  • $0 annual fee
  • No foreign transaction fees
  • 5% cashback on hotels and rental cars booked via Capital One Travel
  • Plays nice with QuickBooks, Quicken and Excel

thumb_down Dislikes

  • Requires “excellent” credit in exchange for just “OK” terms
  • To clarify, 1.5% rewards rate is just “OK” in the biz card world
  • High sign-up bonus spending requirement
  • No purchase or balance transfer introductory APR offering
  • Punishing penalty APR (north of 30%)


Category Default Rate Bonus Rate Bonus Spend Cap Bonus Spend Period (Months)
Cell Phone 1.50% - - -
Dining 1.50% - - -
Gas 1.50% - - -
Travel 1.50% - - -
Office Supplies 1.50% - - -
Other Purchases 1.50% - - -

sports_kabaddi Credit card cage match

Compare all the credit cards in our database head to head to see which offers the most bang for your buck.

Select Credit Cards

↓×
  • check_box_outline_blankcheck_boxAmazon Business American Express Card
  • check_box_outline_blankcheck_boxAmazon Business Prime American Express Card
  • check_box_outline_blankcheck_boxAmerican Express Blue Business Cash
  • check_box_outline_blankcheck_boxAmerican Express Plum Card
  • check_box_outline_blankcheck_boxBank of America Business Advantage Customized Cash Rewards
  • check_box_outline_blankcheck_boxBank of America Business Advantage Unlimited Cash Rewards
  • check_box_outline_blankcheck_boxCapital on Tap Business Credit Card
  • check_box_outline_blankcheck_boxCapital One Spark 1.5% Cash Select
  • check_box_outline_blankcheck_boxCapital One Spark 1.5% Cash Select for Good Credit
  • check_box_outline_blankcheck_boxCapital One Spark 1% Classic for Business
  • check_box_outline_blankcheck_boxCapital One Spark 2% Cash Plus
  • check_box_outline_blankcheck_boxChase Ink Business Cash Card
  • check_box_outline_blankcheck_boxChase Ink Business Unlimited Card
  • check_box_outline_blankcheck_boxCostco Anywhere Visa Business Card by Citi
  • check_box_outline_blankcheck_boxTD Business Solutions Credit Card
  • check_box_outline_blankcheck_boxTruist Business Cash Rewards Credit Card
  • check_box_outline_blankcheck_boxU.S. Bank Business Leverage Visa Signature Card
  • check_box_outline_blankcheck_boxU.S. Bank Triple Cash Rewards Visa Business Card

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Methodology

The results of the investor.com Credit Card Business Rewards Calculator are based on the monthly spending amounts you enter and the annual dollar value of the rewards each credit card program pays per $1 spent. Credit card companies often express this payout amount as a percentage (e.g., 1.5% of every dollar spent) or on a points basis (e.g. ,1.5 points for every dollar spent). We converted all of them to a dollar amount (“Cash Back Per Year”) to make comparing offers easier.

To calculate the amount of cash back you could earn per year, we factored in:

  • Tiered rewards rates: Some business cards pay a flat cashback rate on all purchases. Others pay higher cashback rates on purchases that fall under specific spending categories. The investor.com algorithm incorporates each issuer’s unique reward’s program to determine the “Cash Back Per Year” tally.
  • Spend category inputs: Based on the rewards cards in our database, cell phones, dining, gas, office supplies, travel and "other" are the categories most often used by business credit cards that feature tiered rewards programs. We encourage you to customize the monthly spend inputs for the most accurate results.
  • Monthly spend: The default dollar amounts for each spend category in the Business Credit Card Calculator are based on average small-business spending data from the U.S. Bureau of Labor Statistics and other sources. Click the arrow on the “Spend Categories” to customize the monthly spend inputs and find the business card with the highest payout rate for your small-business spending.
  • Rewards spending caps: Some cards impose category- or time-based limits (monthly, quarterly, annually) that affect the amount of rewards you can earn. For example, a card may pay 3% cash back on office supplies on up to $1,000 of spending each quarter, then revert to the base/default rewards rate until the following quarter. We accounted for bonus spending caps and timeframe in the calculations.
  • Default rewards rates: Purchases that exceed a spending cap are usually subject to a lower default rewards rate (e.g., 1% or 1.5%). We mathed that out too.
  • Annual fees: If a rewards card charges an annual fee, we deducted that amount from the “Cash Back Per Year” total to provide a true accounting of a card’s annual rewards payout.

What’s not included in the “Cash Back Per Year” total is the cash value of any sign-up/introductory bonus. We highlight any Welcome Bonus separately. While sign-up bonuses can be the most lucrative part of getting a new cashback rewards credit card, not everyone will want or be able to do what it takes to earn the extra cash. (It usually requires spending a certain amount in a specified time period after the card is activated.)

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