Capital One Spark Miles for Business Review
Spark Miles for Business is a travel rewards card offered by Capital One. With a flat rate of 2 miles for each dollar spent, this card offers a simple and appealing rewards system. And, unlike many other travel programs, points can be used for most travel arrangements — not just flights on your airline of choice or nights in specific hotels.
If you or your employees do a lot of travel, this card might be a useful way to save a little money. On the other hand, a card such as Spark Cash (read our review), offered by Capital One, offers the same rewards, but with even more flexibility (and less hassle) because your rewards are received in the form of cash back. Additionally, many of the more specialized travel rewards cards will offer more than the standard $0.01 per point that Capital One offers, though they might have more restrictions about how you can apply those points.
Is this card right for your business? Read on for the details!
Table of Contents
Spark Miles At A Glance
Spark Miles From Capital One
$95 ($0 the first year)
This card is for business owners who have excellent credit. To qualify, you’ll need to meet these requirements:
I’ve never declared bankruptcy or defaulted on a loan; I haven’t been more than 60 days late on any credit card, medical bill, or loan in the last year; I’ve had a loan or credit card for 3 years or more with a credit limit above $5,000.
Rewards & Fees
- The annual fee is $95, so you will need to earn at least 9,500 points per year to come out even. To accumulate that many points, you’ll need to spend at least $4,750. That said, the fee is waived the first year.
- The early spend bonus is 50,000 miles, which is worth $500 if redeemed for travel.
- Cardholders earn 2 points per $1 spent, so if you spend $10,000 you will earn 20,000 points. Points are worth $0.01 each if redeemed for travel, but might be worth more or less if redeemed for other options. In the above example, the 20,000 points would be worth $200 for travel.
Rewards can be redeemed for travel via Capital One’s Rewards Center, or by making the purchase on your own and then using Capital One’s Purchase Eraser to receive account credits for your purchase. Unlike some other travel rewards programs, use of points is flexible — you can redeem points for most travel arrangements, such as flights, hotels, and car rentals.
Points for travel are worth $0.01 each. So, the 50,000 bonus miles are worth $500 for travel. Points can also be used for other options, such as cash back or gift cards. However, points might be worth less than $0.01 each when redeemed for non-travel options. Because points tend to be less valuable when applied to non-travel rewards, we recommend that business owners at all interested in non-travel benefits seek out a different card.
Points never expire, and can sometimes be transferred to other Capital One rewards programs.
Cardholders have access to Capital One’s business benefits, as well as the benefits offered by Visa Business Benefits [PDF], including:
- Extended warranty protection
- Price protection
- Access to Visa SavingsEdge (15% off on some purchases from participating merchants)
- Auto rental collision damage waiver
- Travel and emergency assistance
- Lost luggage reimbursement
- Travel accident insurance
Like all Capital One business cards, Spark Miles does not carry foreign transaction fees.
Capital One Spark Miles vs. Capital One Spark Miles Select
Capital One offers two travel rewards cards: Spark Miles and Spark Miles Select. Aside from the flat rate and the annual fee, both cards are similar.
Spark Miles offers a flat rate of two miles per $1 spent, but carries an annual fee of $95. Spark Miles Select offers a flat rate of 1.5 miles per $1 spent, but does not carry an annual fee. Which is better for your business?
Because the annual fee deducts from the amount you save by using the card, business owners who don’t spend a lot of money will be able to earn more rewards via Spark Miles Select. In general, if you’re spending less than $19,000, you’ll want to use Spark Miles Select. If you are spending more than $19,000, you will be able to earn more points from Spark Miles. Note, however, that the fee is waived the first year, so you will be able to earn more from this card than Spark Miles Select right off the bat.
Get the full details with our Spark Miles Select review.
Capital One Spark Miles vs. Capital One Spark Cash
Spark Cash is Capital One’s business credit card for cash back. With a flat rate of 2% back on all purchases and an annual fee of $95, Spark Cash offers equivalent rewards and fees, but with a focus on cash back.
Capital One doesn’t offer any extra incentives for Spark Miles, so business owners might find that Spark Cash is a better choice because rewards are even more flexible — you can request your cash back in the form of a check and use it for any reason, including travel. This saves the hassle of redeeming your rewards via the Rewards Center or using Purchase Eraser.
Take a look at our Capital One Spark Cash for Business Review for all the details.
Capital One Spark Miles vs. Chase Ink Business Preferred
Ink Business Preferred is another card that offers flexible travel rewards. However, Ink Preferred offers an additional incentive: points used for travel are worth 25% more. At $0.0125 per point, that adds up to $125 per 10,000 points instead of the standard $100. Points can also be redeemed for other rewards, such as cash back.
On the other hand, some businesses might find that it’s harder to earn as many points — Ink Business Preferred offers three points per $1 on the first $150,000 worth of purchases for travel, shipping, internet/cable/phone, and advertising on social media and search engines, but otherwise all purchases are worth the standard one point per $1. Like Spark Miles, Ink Preferred has a $95 annual fee, but it is not waived the first year.
Chase Ink Business Preferred
18.24% - 23.24%, Variable
Head over to our Chase Ink Business Preferred Review for more information on this credit card.
Capital One Spark Miles might be worth a look for businesses with a lot of travel expenses. The simple but high rewards rate means that it’s easy to rack up points for future travel arrangements. The flexible redemption options ensure that you won’t have trouble redeeming your points for travel rewards. However, because Capital One offers cards with more flexibility, and other issuers offer cards that might dish out higher rewards values, you might want to consider your other options (such as the ones mentioned above) before applying.
This card might be a good choice if:
- You plan on putting more than $19,000 worth of charges on your card
- You or your employees do a lot of travel, and you want a card with flexible travel rewards
- You want a simple way to earn travel rewards for your business
This card might not be a good choice if:
- You plan on putting less than $19,000 worth of charges on your card (if so, take a look at Capital One Spark Miles Select for Business)
- You want to redeem some or all points for reasons other than travel
The editorial content on this page is not provided by any of the companies mentioned, and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are author’s alone.
To learn more about how we score our reviews, see our Business Credit Card Rating Criteria.