Capital One® Spark® Miles for Business

Robin Saks Frankel  in  Business Advertising Disclosure
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Recommended Credit Score

Good to Excellent (670 - 850)

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Best business card for travel rewards

Annual Fee:
$0 intro for first year; $95 after that
Purchase Intro APR:
N/A
Balance Transfer Intro APR:
N/A
Regular APR:
19.24% (Variable)
Terms and Restrictions Apply

Bankrate Rating

Commonly used for: Business, Rewards, Travel.

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Capital One Spark Miles for Business ranks among the best business rewards credit cards on the market. It just isn’t quite as good in our eyes as another card from this issuer, the Capital One Spark Cash for Business.

Although this card gives a respectable unlimited 2 miles back on every $1 spent, unless you’re a die-hard traveler, you’re probably better off using the cash card instead, which pays the same rewards rate but gives you the flexibility of cash-back instead of miles to spend however you see fit.

Review

Bankrate tends to favor rewards credit cards that make it easy on the cardholder to collect. Spark Miles for Business does that, although redemption isn’t quite as flexible as with the Spark Cash card.

This is an especially good card if your business expenses aren’t concentrated in small-business specific categories. There are other cards that offer more generous rewards in spending categories typically associated with businesses, but be prepared to track your category spending.

We also like that this card charges no foreign transaction fees, meaning if you or your employees do business outside the U.S., you won’t have to pay extra when putting spending on your credit card. Additionally, you can receive up to $100 credit for one Global Entry or TSA Pre✓® application fee.

Who should get this card

The Capital One Spark Miles for Business card will most likely appeal to business owners who travel frequently, but who don’t want the rewards program complexity found with some travel cards. This card is probably right for you if your expenses vary over the course of the year and aren’t concentrated in one specific category, like gas or office supplies.

You can redeem your points easily at most travel services for a flat rate of 1 cent per point.

For business owners who put a fair amount on their credit cards, the sign-up bonus may be a key to your decision to apply. You’ll earn a bonus of 50,000 miles when you spend $4,500 in the first 3 months of opening your account.

Advantages
  • Earn 50,000 miles after spending $4,500 on purchases within the first three months.
  • Receive up to $100 credit for one Global Entry or TSA Pre✓® application fee.
  • Additional employee cards at no charge.
  • There are no rotating or special bonus categories to keep track of.
Disadvantages
  • Balance transfers have the same APR as purchases, so this card may not be a good choice for those looking to save on interest charges by doing a balance transfer.
  • If you’re using the Purchase Eraser to redeem your miles for past purchases, you have to do it within 90 days of the original purchase.
  • There’s a $95 annual fee, waived the first year.

Fees and APR

  • You’ll pay a $95 annual fee, waived the first year.
  • There is no foreign transaction fee on purchases made outside the United States.
  • The annual percentage rate is a variable 19.24%.

Extras, perks and using points

You can redeem your awards miles by booking your travel directly through a Capital One representative over the phone or through the website. The other way is to use the Purchase Eraser tool to receive a credit for travel you booked another way. Once you’ve paid for your travel with your Capital One card, you can redeem your miles for a statement credit.

When used for traveling, the Capital One Spark Miles has no foreign exchange fees and also comes with Visa Business Benefits, including auto damage and collision protection, emergency and travel assistance services and purchase protection.

There is no fee to redeem your miles. This information, in addition to further details on how you can maximize the benefits offered with this card can be found in our comprehensive Capital One Rewards Miles guide.


Editorial disclosure: All reviews are prepared by Bankrate.com staff. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including card rates and fees, presented in the review is accurate as of the date of the review. Check the data at the top of this page and the bank’s website for the most current information.