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If you have the means to pay your credit card balance in full each month, you might as well earn rewards on your business purchases. The best small business credit cards offer cash back, travel rewards, or flexible points you can use in several different ways. And depending on your average business spending, the
Capital One Spark Miles Business Credit Card Review: Is the Capital One Spark Miles for Business the Best Credit Card for You?
Depending on your spending habits and rewards goals, the
The
As for earning on everyday spending, the card earns 2x miles on just about everything (except for hotels and rental cars booked through Capital One Travel, which earn 5x miles). There are no spending caps, so you're guaranteed to earn at least 2x on everything you buy.
There's an annual fee of
That said, before you decide on the
Alternately, a card like the
Capital One Spark Miles for Business Credit Card Rewards
Capital One Spark Miles welcome bonus
The
However, based on Insider's points and miles valuations, you can expect to get an average value of
Note that the minimum spending requirement is reasonable, especially compared to some other business rewards credit cards which require $10,000 or more in spending to unlock the bonus. That's another factor to consider if you're comparing this card to similar business cards.
How to earn rewards with the Capital One Spark Miles for Business card
The
This makes the
How to use rewards from the Capital One Spark Miles for Business
You've got several options for redeeming Capital One miles, but you won't get the same value in all cases.
The easiest way to use your miles is by "erasing" eligible travel purchases you've made with your card in the past 90 days at a rate of 1 cent per mile. Qualifying travel purchases include airlines, hotels, car rental agencies, limousine services, bus lines, rail lines, cruise lines, taxi cabs, travel agents, and timeshares.
You can also redeem miles at the same rate for travel purchases (airfare, hotel stays, and car rentals) through the Capital One Travel portal. But if you're willing to do a little more legwork, you can get even more value when you transfer miles to Capital One's transfer partners to book award travel.
Transferring miles to airline and hotel partners, particularly if you book expensive first- or business-class flights or luxury hotels, can result in a much bigger rate of return. That's why Insider's points and miles valuations peg Capital One miles as worth 1.7 cents each, on average, when you redeem them this way.
Other options for redeeming miles include gift cards and cash back. Gift cards offer a 1 cent per mile rate, but cash-back redemptions aren't a good option. You'll shave the value of your miles in half because the rate is just 0.5 cents per mile. If cash back is your preference, you'll want to look at one of the best cash-back business cards instead.
Capital One Spark Miles for Business Benefits and Features
One slightly annoying thing about the
There are several benefits you'll get regardless of the version you're approved for. Here are some of the best.
Global Entry or TSA PreCheck application fee credit
Once every four years,
Global Entry is a trusted-traveler program that gets you a fast track to re-entering the US from abroad, and it includes TSA PreCheck (expedited airport security) so it's a better pick for most folks. And, if you already have Global Entry or TSA PreCheck, you can use your card to pay for someone else's application fee and get reimbursed.
Capital One Lounge passes
Capital One Lounges offer upscale food and drink and a quiet place to relax away from the hustle and bustle of the airport terminal. If you aren't able to use the two complimentary visits, your authorized users/account managers can access the lounge instead.
Extended warranty
Qualifying items purchased with your
Small-business benefits
The
- Free employee cards and customized spending limits
- Fraud and security alerts
- A card lock feature for the primary cardholder and employee cards
- $0 fraud liability
- Year-end summaries to make things easier at tax time
- Ability to download purchase records into Quicken, QuickBooks, and Excel
- Virtual card numbers to safely make online purchases
Capital One Spark Miles for Business Card Annual Fee and Other Costs
The
There are no foreign transaction fees, so you won't have to worry about getting stung with extra charges on international purchases. However, be aware that if you carry a balance or do a balance transfer, there's a
As with most business credit cards, the
If you need to carry a balance or are prone to paying your bill late, you may want to consider a different business credit card, such as a balance transfer card or a card with an intro APR offer.
How the Capital One Spark Miles for Business Credit Card Compares
Capital One Spark Miles for Business vs other Capital One business credit cards
Annual fee | |||
Rewards rate | 5 miles per dollar on hotels and car rentals booked through Capital One Travel 2 miles per dollar on all other eligible purchases | 5 miles per dollar on hotels and car rentals booked through Capital One Travel 1.5 miles per dollar on all other eligible purchases | 1.5% cash back on all purchases |
Welcome bonus offer | |||
Card benefits | Global Entry or TSA PreCheck application fee credit Two Capital One Lounge passes each year Extended warranty Visa or Mastercard benefits (depending on card version) No foreign transaction fees | Car rental insurance Roadside assistance Extended warranty No foreign transaction fees | Car rental insurance Extended warranty Roadside assistance No foreign transaction fees |
Review |
Capital One Spark Miles for Business versus other small-business travel credit cards
Annual fee | |||
Rewards rate | 5 miles per dollar on hotels and car rentals booked through Capital One Travel 2 miles per dollar on all other eligible purchases | 3x points on shipping purchases, advertising purchases on social media sites and search engines, internet, cable, and phone services, and travel* 1x points on all other purchases | 4x points in the top two categories you spend the most in each month, on up to $150,000 in combined purchases each year (then 1x)*** 1 point per dollar on all other purchases |
Welcome bonus offer | |||
Card benefits | Global Entry or TSA PreCheck application fee credit Two Capital One Lounge passes each year Extended warranty Visa or Mastercard benefits (depending on card version) No foreign transaction fees | Cell phone protection Primary car rental insurance (when renting for business purposes) Trip cancellation/interruption insurance Extended warranty Travel and emergency assistance services Roadside dispatch No foreign transaction fees | 25% points rebate on first- and business-class flights (or economy flights on your selected airline) booked through Amex Travel Perks at Amex Hotel Collection properties Secondary car rental insurance Baggage insurance Extended warranty Global Assist Hotline Discounts and bonuses through Amex Offers** No foreign transaction fees |
Review |
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Capital One Spark Miles for Business Credit Card Frequently Asked Questions (FAQ)
What credit score do you need to be approved for the Capital One Spark Miles for Business?
Most people who are approved for the
Capital One has its own definition of excellent credit as well. It defines excellent credit as never having declared bankruptcy or defaulted on a loan, not having been more than 60 days late on any credit card, medical bill, or loan in the last year, and having had a loan or credit card for three years or more with a credit limit above $5,000.
Who is eligible for the Capital One Spark Miles for Business Credit Card?
To be eligible to apply for the
How do you redeem Capital One Spark miles?
Capital One miles are incredibly flexible. You can cash them as statement credits toward eligible travel purchases made with your card, use them to book flights, hotels, and car rentals through Capital One Travel, transfer them to airline and hotel partners, use them for gift cards, or (not a great option) redeem them for cash back.
Do Capital One Spark miles have a cash value?
When you redeem Capital One miles for travel statement credits, bookings with Capital One Travel, or gift cards, you'll get a value of 1 cent per miles. Transfers to airline and hotel partners result in different values (often higher) depending on the partner and how you redeem your rewards. And redemptions for cash back offer a relatively poor value at just 0.5 cents per mile.
Methodology: How we reviewed the Capital One Spark Miles for Business Credit Card
We evaluated the
- Ease of use — Is the card's rewards program easy to navigate? Are there multiple options for redeeming rewards?
- Rewards earning potential — Are there strong earning rates for business owners, and are any of them capped? If there are bonus categories, are they broadly useful?
- Benefits — Do the card's benefits, especially for business owners, make the card worth opening and keeping?
- Annual fee — If the card has an annual fee, do its earning potential and perks justify paying it?
Here's a closer look at how we rate credit cards at Insider.