Capital One Spark Miles for Business Review

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Reward rate:

Earn unlimited 2X miles per dollar on every purchase, anywhere, with no category limits or restrictions, and the miles will not expire during the life of the account.

  • Introductory bonus: 50,000 miles
  • Annual subscription : $ 0 introduction for the first year; $ 95 after that
  • Regular APR: 20.99% (variable)
  • Recommended credit score: 670-850 (good to excellent)

Capital One Spark Miles for Business * offers a simple rewards structure with a lot of flexibility for business travelers. It is even one of our top choices for business credit cards in 2021. You’ll earn 2x the miles on each purchase, plus a welcome bonus of 50,000 miles after spending $ 4,500 within three months of opening the account. And when you’re ready to redeem miles for future business trips, you’ll have plenty of options to make sure you’re getting the best value for your money.

In one look

  • Earn 2x miles on every dollar you spend
  • Earn 50,000 bonus miles after spending $ 4,500 within three months of opening the account
  • Up to $ 100 fee credit for Global Entry or TSA PreCheck
  • Redeem rewards for past travel purchases or transfer miles to airline or hotel partners
  • Variable APR of 20.99%
  • Annual fee of $ 95, waived for the first year

Advantages

  • Package 2x miles on each purchase

  • Valuable welcome bonus worth $ 500 for one trip

  • Annual fees waived the first year

  • No foreign transaction fees

The inconvenients

  • High variable APR

  • No introductory APR

  • Fewer travel transfer partners than other rewards programs

Additional card details

Capital One Spark Miles for Business offers a few additional perks to help you save money when business requires you to travel. You can earn up to $ 100 in fee credits for joining Global Entry or TSA PreCheck every four years. You’ll also get shopping and travel protections, including roadside assistance and extended warranties on qualifying items, and you won’t pay any overseas transaction fees when traveling overseas.

Spark Miles come with benefits other than travel that your small business can also enjoy. You can open additional employee cards for free, set spending limits, and view employee transactions. Capital One also offers year-end summaries and purchase records compatible with programs like QuickBooks to simplify your business’s accounting.

Should you get this card?

This card is a great option for business owners looking to earn miles on daily expenses that they can redeem for later travel.

Spark Miles’ 2x fixed reward rate is useful for business owners or freelancers whose spending is not concentrated in separate categories (like office supplies or advertising). It’s also a good choice if travel isn’t your biggest business expense and you prefer to rack up rewards on your daily expenses to save money on future business trips.

Pro tip

In addition to 2x miles on each purchase, you will get 5x miles when you book hotels or car rentals through Capital One Travel using your Spark Miles card.

It’s also a solid option even if your business travel is put on hold due to the pandemic. Not only can you use Capital One’s Purchase Eraser to redeem your miles for past travel purchases, but until April 2021, you can also use your miles for dining expenses, streaming services, and other services. wireless telephony.

How to use Capital One Spark Miles for Business

Start leveraging your Spark Miles card by spending at least $ 4,500 within three months of opening the account to earn the 50,000 mile bonus, which is worth $ 500 in exchange for travel only. Also use your card to pay for your Global Entry or TSA PreCheck membership, and get credit for those fees when you renew every four years.

Since this card offers 2x fixed miles for every dollar you spend, you can maximize your rewards by making it your card of choice for regular business expenses. You’ll also earn 5x miles per dollar spent on hotel and car rentals booked through Capital One Travel. Just make sure you pay your credit card bill in full each month to avoid accruing interest at the high variable rate charged by this card.

When you’re ready to redeem miles, take advantage of the various redemption options available.

You can use the Capital One Purchase Eraser to redeem any travel purchase posted to your account within 90 days at the rate of one cent per mile. In other words, buy travel anywhere – direct from hotel or airline brands, aggregation sites or elsewhere – then use your miles to “wipe” some or all of the charges from your account. .

Capital One’s transfer partners can also help you get the most out of your miles, although your specific redemption value will depend on when you book and your specific itinerary. Here are Capital One’s current transfer partners:

  • Aeromexico Club Premier
  • Air Canada Aeroplan
  • Air France-KLM Flying Blue
  • Alitalia MilleMiglia
  • Avianca LifeMiles
  • Miles Cathay Pacific Asia
  • Emirates Skywards
  • Etihad Guest
  • EVA Infinity MileageLands
  • Finnair Plus
  • JetBlue TrueBlue
  • Frequent traveler from Qantas
  • Singapore KrisFlyer
  • Accor Live unlimited
  • Wyndham Rewards

Capital One Spark Miles for Business vs. Other Cards

  • Introductory bonus:
  • Annual subscription :

    $ 0 introduction for the first year; $ 95 after that

  • Regular APR:

    20.99% (variable)

  • Recommended credit:

    670-850 (good to excellent)

  • Learn more external link icon on the secure site of our partner.
  • Introductory bonus:
  • Annual subscription :

    $ 95

  • Regular APR:

    15.99% to 20.99% Variable

  • Recommended credit:

    670-850 (good to excellent)

  • Learn more external link icon on the secure site of our partner.
  • Introductory bonus:
  • Annual subscription :

    $ 0 introduction for the first year; $ 95 after that

  • Regular APR:

    20.99% (variable)

  • Recommended credit:

    670-850 (good to excellent)

  • Learn more external link icon on the secure site of our partner.

Final result

EDITORIAL INDEPENDENCE

As with all our credit card notice, our analysis is not influenced by any partnership or advertising relationship.

Capital One Spark Miles for Business is a great business card option for business owners or sole proprietors who want to earn rewards on daily expenses they can spend on future travel. A generous welcome bonus, 2x the miles on anything you buy, and the waiver of annual fees in the first year all combine into great added value for any small business with varying expenses.

* All information on Capital One Spark for Business Miles, Ink Business Preferred Credit Card, and Capital One Spark Cash for Business has been independently collected by NextAdvisor and has not been reviewed by the issuer.

Frequently Asked Questions

What are Capital One Spark Miles worth?

Your Capital One miles are worth one cent each when you redeem them for travel purchases using Purchase Eraser.

How can I redeem my Capital One Spark Miles?

You can redeem your Capital One miles for travel purchases made with your card, transfer them to airline and hotel partners, or redeem them for cash and gift cards. Log into your Capital One account to view all of the options available to you and to redeem the miles you have accumulated.

What credit score do you need for the Capital One Spark?

Capital One Spark Miles for Businesses are available to people with excellent credit. To get the best chance of approval, you must achieve a credit score of 740 or higher before applying.

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