Costs & Pricing

Metric	Spark Cash Plus	Ink Business Preferred® Credit Card
Annual fee	$150 ($150 statement credit if ≥ $150,000 net purchases by membership anniversary)	$95 (no first-year waiver published)
Employee card fee	$0 (free employee and virtual cards)	$0
Purchase APR	Not printed as revolving purchase APR; Pay Over Time variable APR ~25.74% (review sites, mid-2026) if balance carried	17.74%–26.74% variable (Prime + 10.99% to +19.99%; max 29.99%)
Intro APR (purchases)	Not offered	Not offered
Foreign transaction fee	$0	$0
Late payment fee	2.99% late fee if minimum payment not paid by due date	$40

Rewards & Value

Metric	Spark Cash Plus	Ink Business Preferred® Credit Card
Base earn rate	Unlimited 2% cash back on net purchases (no category caps)	1 Ultimate Rewards point per $1 on all other purchases (uncapped)
Welcome bonus	$2,000 cash after $30,000 spend in first 3 months; +$2,000 for every $500,000 in year one (repeatable)	100,000 Ultimate Rewards points after $8,000 purchases in first 3 months (posts 6–8 weeks after qualifying)
Redemption value	1¢ per 1¢ cash back on statement credit/check	1¢/point cash (RPA contractual floor); Chase Travel marketed at 1.25¢; transfers at partner ratios
Transfer partners	No native transfer partners; cash may convert to Capital One miles ($1 = 100 miles) if linked to miles-earning Cap One card	Native transfers (airlines 1:1; IHG, Marriott, Wyndham 1:1). World of Hyatt 1:1 through 9/30/2026, then 4:3 from 10/01/2026 (1,000 UR → 750 Hyatt). Unlocks transfers for Ink Cash/Unlimited points moved onto this card.

Credit & Eligibility

Metric	Spark Cash Plus	Ink Business Preferred® Credit Card
Personal guarantee	Required in practice (issuer-typical for Cap One business cards; not quoted on product page)	Required — authorizing officer liable individually and jointly with the business for all balances
Credit check	Hard pull on submit; pre-approval advertised as no impact to personal credit	Hard pull on the authorizing officer (standard Chase practice)
Employee cards	Free; spend limits, lock/unlock, account manager role; primary remains liable	Free; number not capped in public copy; individual spend limits and real-time tracking
Product type	Hybrid charge card / NPSL business card (designed pay-in-full; Pay Over Time optional)	Revolving business credit card

Pros & Cons

Spark Cash Plus

Pros

• Uncapped 2% cash back on all net purchases
• NPSL capacity plus free employee and virtual cards
• $150 annual fee refunded at $150,000 net spend by anniversary
• Large year-1 bonuses — $2,000 at $30k/3 mo plus $2,000 per $500k spent
• $0 foreign transaction fee; 5% on Capital One Business Travel hotels/VR/cars

Cons

• $150 fee is real if spend stays below $150k/year
• Pay-in-full design — 2.99% late fee and Pay Over Time interest if you carry
• Bonus hurdles favor very high spenders ($30k/3 mo, $500k increments)
• No 0% intro APR and no balance transfers
• Bonus often blocked for existing/previous Capital One Business cardholders

Ink Business Preferred® Credit Card

Pros

• 100,000 UR / $8,000 / 3-month welcome bonus; authorized-user spend counts
• 3x on shipping, direct social/search ads, comms, and travel up to $150k per anniversary year
• Native Ultimate Rewards transfers; unlocks transfers for Ink Cash/Unlimited points
• $0 foreign-transaction fee and $0 employee cards
• Cell-phone protection plus purchase protection and primary business rental CDW

Cons

• $95 annual fee with no Global Entry, lounge, or travel statement credit
• No intro 0% APR — poor working-capital tool if a balance will be carried
• Personal guarantee + hard pull + unofficial 5/24 gate
• Advertising 3x is narrow (direct platform MCCs, not agencies); office supplies are not 3x
• Hyatt transfers drop to 4:3 on October 1, 2026; bonus likely unavailable if you ever held this card

Verdict

Spark Cash Plus

Capital One Spark Cash Plus is the go-to for businesses with serious spend who can pay in full. Uncapped 2%, NPSL flexibility, free employee/virtual cards, and a refundable $150 fee at $150k make it a premium flat-rate engine — especially with the live $2,000 welcome bonus and limited $500 travel credit (through Sep 7, 2026). Poor fit for 0% financing seekers, lounge hunters, or businesses under $150k annual card spend.

Ink Business Preferred® Credit Card

Ink Business Preferred is the transfer keystone of the Ink family — 3x on the spend categories many operators actually have, $0 FTF, and a 100k welcome bonus, all at $95. Pair it with Ink Cash or Unlimited if you want the rest of spend at cash-back rates with transferable points parked here. Skip it if you need 0% capital, no personal guarantee, lounges, or simple uncapped cash back.