The Capital One Spark Cash Business is a solid credit card that guarantees you 2% in total rewards annually. There’s no limit to how much you can earn and cash rewards don’t expire.
The signup bonus is decent, too. It's a $250 Cash Bonus after spending $5,000 - on purchases within the first 3 months. Sign up one or more employees for a card in the first 60 days, and you’ll earn $50.
Once you do earn them, those rewards are very easy on you. You can redeem at any time, or CapOne will just send you a check at the end of the year.
The only downside is the card’s annual fee of $59, which is waived the first year. That’s not so terrible compared to, say, the AmEx Gold or Platinum, which charge $175 and $450, respectively. Generally, it's true that a business card will carry an annual fee, but there are a couple options out there if you’d like to avoid the charge.
Alternatives with no annual fee
The Chase Ink Cash, for example, is one of the best out there. It’s especially great if you tend to spend a lot at office supply stores. On your first $25,000 every year, you’ll earn 5% at stores like Staples as well as your bills on cell phones, the landline, Internet and cable TV.
You’ll also earn 2% back at gas stations and restaurants – for the first $25,000 at least – and 1% elsewhere. There may be caps on those high-rewards categories, but if you’re a small business, and you’d prefer not to mess around with an annual fee, the Chase Ink is a great card – especially as you’re starting out and stocking the office.
Then there’s the SimplyCash from American Express, which has a nearly identical rewards structure, organized in tiers: 5% on office supplies and telephone service providers, 3% on gas and 1% everywhere else. The cap is $25,000 for each category. After you max out those high-rewards rates, you’ll earn 1%. In other words, this card is for the smaller business.
Again, though, this card is a great alternative to the Chase Ink. With no annual fee and easy rewards – cash back credited automatically to your statement! – the SimplyCash is a fine choice.
