Capital One Spark® Miles Select for Business
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The Capital One Spark Miles Select for Business card is the fraternal twin to the Capital One Spark Cash Select for Business. The two cards are virtually identical except Spark Miles Select rewards can only be redeemed for travel purchases and the Spark Cash Select rewards gives you a statement credit or a check.
Unless you have a reason to only want to accrue credits for travel, the Spark Cash Select for Business gives you much greater flexibility in how you spend your rewards.
The Capital One Spark Miles Select for Business card earns an unlimited 1.5 miles per $1 spent on all purchases, without any complicated rotating bonus categories or points transfers. Anyone who wants to earn travel rewards that can be used in advance, or as a credit back against a trip already taken, can benefit from the simple structure of this card.
Sweetening the pot is a one-time bonus of 20,000 miles, worth $200 in travel, to cardholders who accrue at least $3,000 in charges in the first three months of card ownership and a 0% intro APR offer purchases for the first nine months (then 14.74% – 22.74% variable APR after that).
Keep in mind if you think you’ll occasionally be late paying the bill, or miss a payment altogether, the penalty APR on Capital One Business credit cards is high and will apply for at least a year.
Capital One has a number of good business credit cards to choose from. Most are top notch. That being said, we don’t like either of the Select cards as much as the Capital One Spark Cash for Business, which charges an annual fee after the first year, but also offers a slightly higher rewards rate and a more lucrative sign-up bonus.
Who should get this card
Business owners who want a hassle-free card with a generous and unlimited rewards structure just for travel may find this card fits the bill.
Fees and APR
- There’s no annual fee.
- Enjoy an introductory 0% APR offer on purchases made during the first nine months of account opening, then it’s a variable 14.74% to 22.74% based on creditworthiness.
- You’ll pay no foreign transaction fees on purchases made outside the U.S.
- Balance transfers charge a variable APR of 14.74% to 22.74% based on creditworthiness.
- There’s a penalty APR of 31.15% after you make a late payment that will apply for at least a year.
- There’s a late payment fee of up to $39.
Extras, perks and using points
There’s free extra cards for employees, and the main cardholder accrues all the rewards.
When used for traveling, the Capital One Spark Miles Select for Business has no foreign transaction fees and also comes with Visa Business Benefits, including auto damage and collision protection, emergency and travel assistance services and purchase protection.
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” to receive a credit for travel you booked another way. Once you’ve paid for your travel with your Capital One Venture card, you can redeem your miles for a statement credit.
There is no fee to redeem your miles.
How this card compares
The Blue Business Plus Credit Card from American Express earns 2 points per $1 spent on the first $50,000 in business purchases per year, then 1 point per dollar thereafter. This card has no annual fee.
If you’re just starting out and you aren’t sure what your spending patterns will be, the Ink Business Cash Credit Card is like a small rectangular mentor. The no-fee card will reward you for spending in the areas you’ll most likely need to get your business off the ground and gives you a full year break on interest for purchases and balance transfers. Who couldn’t use a little breathing room when launching a new venture?