| Last updated on March 5th, 2024
Capital One Spark Miles for Business
Capital One Spark Miles for Business
Capital One Spark Miles for Business
- 25.99% variable based on the Prime Rate Regular Purchase APR
- 25.99% variable based on the Prime Rate Balance Transfer APR
- 31.99% variable based on the Prime Rate Cash Advance APR
At a Glance
The Capital One Spark Miles for Business card shines in both the strength and simplicity of its features, namely earning an unlimited two miles for every dollar spent on all purchases. Combine that with its special introductory signup offer and no foreign transaction fees, and you’ve got a card that companies will be clamoring for.
- Best Benefits
- Rates & Fees
- Why Should You Apply?
- Earn 5X miles on hotel and rental car bookings through Capital One Travel
- Earn unlimited 2X miles per dollar on every purchase
- Earn a one-time bonus of 50,000 miles - equal to $500 in travel - once you spend $4,500 on purchases within the first 3 months
- Rewards miles do not expire and can be redeemed without blackouts or seat restrictions
- Additional employee cards at no cost, which also earn unlimited 2% cash back on all purchases
- Regular Purchase APR: 25.99% variable based on the Prime Rate
- Balance Transfer APR: 25.99% variable based on the Prime Rate
- Cash Advance APR: 31.99% variable based on the Prime Rate
- Cash Advance Transaction Fee: 3% of the amount of the cash advance, but not less than $3
- Penalty APR: 34.4% variable based on the Prime Rate
- Annual Fee: $0 for the first year. After that, $95
- Late Payment Penalty Fee: Up to $39
- You travel frequently and can maximize the miles that can be earned
- You're eager to earn an unlimited 2X miles on all purchases, every day
- You want a huge introductory bonus that requires considerable spending within the first three months of being a cardholder
- You want a business card with no foreign transaction fees
In-Depth Review: Capital One Spark Miles for Business
There’s no need to stress over calculating the travel rewards categories when using the Capital One Spark Miles for Business. The card is ideal for those seeking to rack up those unlimited 2X miles with no blackout dates, seat restrictions, or a minimum for redeeming rewards.
Who Can Benefit from the Spark Miles Card?
The Capital One Spark Miles for Business Card is best suited for businesses that frequently spend on travel and dining. Companies that can benefit the most from this card typically include:
- Frequent Business Travelers: Companies whose employees travel frequently for business purposes can maximize the card’s benefits, including earning unlimited 2x miles on every purchase.
- Businesses with High Travel and Dining Expenses: The card’s rewards structure can benefit companies with significant travel, dining, and other business-related expenses.
- Small to Mid-sized Businesses: Smaller businesses that don’t have a dedicated travel rewards program can get substantial value from the card’s travel benefits, such as no foreign transaction fees and flexibility in redeeming miles.
- Companies with a Variety of Expenses: Businesses that have diverse spending categories, including travel, online advertising, and shipping, can take advantage of the unlimited 2X miles for every purchase.
Credit Needed
The credit score requirement for the Capital One Spark Miles for Business Card is good credit or better, translating to a score of 700 or higher.
Travel Benefits
Beyond the value of Capital One Rewards points and the impressive signup bonus, the Capital One Spark Miles for Business also features an array of travel benefits and protections. Top of the list is an up to $100 credit for Global Entry or TSA Pre✓® when using the Spark Miles to pay the application fee.
The Spark Miles Card also comes with a $50 experience credit, room upgrades when available, and more through the Capital One Lifestyle Collection. Finally, cardholders also enjoy no foreign transaction fees when using the card abroad.
How to Earn Miles
Welcome Offer Bonus
One of the biggest appeals of the Capital One Spark Miles for Business is its current signup bonus. New cardholders can earn 50,000 bonus miles after spending $4,500 on purchases within the first three months (or 90 days) of opening an account.
Earn Unlimited 2X Miles & More
The big selling point of the Spark Miles for Business and the reason for that $95 annual fee (which Capital One waives for the first year) is the unlimited miles it offers on all purchases. Namely, businesses earn an unlimited 2X miles per dollar on every purchase made with the Spark Miles Card.
Even better, Capital One ups that rewards rate with even more miles through Capital One Travel. Companies earn 5X miles on hotel and rental car bookings through Capital One Travel, with no cap on the total miles you can earn.
How to Redeem Miles
Capital One Rewards points have a value of approximately 1.4 cents per point. This valuation is based upon the best redemption options through the rewards program, which is travel.
Travel options include flights, hotels, cruises, and rental cars booked through the Capital One Rewards portal. Cardholders can also use their points towards various award options, including cash back, statement credits, gift cards, or shopping (including using points with Amazon). Because of this versatility, the card compares favorably with other leading business credit cards, including the Chase Ink Business Preferred.
Capital One Point Transfer Partners
Rewards also transfer to a variety of Capital One airline and hotel partners. Current Capital One airline and hotel transfer partners are:
| AeroMexico (Club Premier) | British Airways (Executive Club) | EVA Air (Infinity Miles) |
| Air Canada (Aeroplan) | Emirates (Skywards) | Qantas Miles |
| Avianca (LifeMiles) | Etihad Guest | Singapore Airlines (KrisFlyer) |
| Air France/KLM (Flying Blue) | Finnair Plus | TAP (Miles&Go) |
| Cathay Pacific (Asia Miles) | ALL (Accor Live Limitless) | Choice Privileges |
| Turkish Airlines (Miles&Smiles) |
Other Card Benefits
Travelers can also rest easy knowing they’re covered with zero fraud liability should their Capital One Spark Miles for Business get lost or stolen, as well as automatic alerts if any suspicious activity is detected. Businesses will also benefit from the custom itemized spending reports they’ll receive from Capital One both quarterly and yearly and the ability to download purchases to familiar formats such as Quicken®, Quickbooks™, and Microsoft Excel®.
Complimentary Employee Cards
Additional employee cards are free of charge. If you have multiple employees who will require additional cards issued, Capital One conveniently allows you to set individual spending limits so you can manage your business expenses. Remember that the 2X miles are unlimited, meaning multiple employee cards can rack up the miles!
Comparison
| Spark Miles | Spark Miles Select | Ink Business Preferred® | |
|---|---|---|---|
| Issuer | Capital One | Capital One | Chase |
| Annual fee | $95 ($0 for first year) | $0 | $95 |
| Rewards | Earn 5X miles on hotel and rental car bookings through Capital One Travel and 2X on all other purchases | Earn unlimited 1.5X miles on every purchase | 3X on travel, shipping, internet, cable and phone services and advertising purchases made with social media sites and search engines on the first $150,000 in combined purchases each account anniversary. |
| Employee cards | Free | Free | Free |
As mentioned, the Ink Business Preferred® from Chase is the closest analog to the Spark Miles for Business. The cards earn similar rewards, feature a similar annual fee, and offer similar transfer partner options. The biggest difference between the two is that Capital One waives the annual fee for the first year for the Spark Miles, whereas Chase does not.
Of course, the Ink Preferred also provides a welcome bonus almost double the Spark Card. Additionally, Chase Ink Preferred cardmembers enjoy 25% more value when redeeming for travel through Chase Ultimate Rewards®.
What We Like About the Card
No Annual Fee for Year One
While the Spark Miles Card charges a $95 annual fee, at least that charge is waived for the first year. This decent feature can save companies significant money while earning the impressive miles welcome offer. The first year free also gives account managers a year to experience the card and find out if it is right for their company.
Things to Consider
No 0% APR
One major drawback of the Spark Miles for Business card is the absence of a long 0% APR period for new accounts. Despite having an annual fee, one would expect the card to offer a substantial 0% APR period, but that is not the case.
Annual Fee
In addition, the card comes with a $95 annual fee after the first year. However, the reward miles earned with the card can quickly make up for this cost. Moreover, the card provides the benefit of extra employee cards at no extra charge, along with a range of business protection and monitoring tools.
Capital One Ratings
How does the Capital One rate as a lender? Here is a selection of expert reviews for Capital One and its business credit card products:
| BestCards | Better Business Bureau | TrustPilot |
|
4.5/5 |
2.5/5 |
2.5/5 |
Should You Apply for the Capital One Spark Miles for Business?
The Capital One Spark Miles for Business credit card is an excellent business card for companies that frequently travel. Earning 2X miles on all purchases (and not just travel purchases) is quite the perk, as is the impressive introductory bonus. For businesses that want a solid rewards card for everyday earning, there aren’t many offers better than the Spark Miles.
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