Capital One Spark® Miles Select for Business

Robin Saks Frankel  in  Business Advertising Disclosure
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Recommended Credit Score

Good to Excellent (670 - 850)

A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.

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Best for no annual fee travel rewards

Annual Fee:
$0
Purchase Intro APR:
0% on purchases for 9 months
Balance Transfer Intro APR:
N/A
Regular APR:
15.24% - 23.24% (Variable)
Terms and Restrictions Apply
Bankrate Score: 89 out of 100

Commonly used for: Business, Excellent Credit, No Annual Fee, No Foreign Transaction Fees, Rewards, Travel.

Score Breakdown

Bankrate Score

89 out of 100
93
Variable APR:
0% introductory APR for the first 9 months that your account is open. After that, your APR will be 15.24%, 19.24% or 23.24%, based on your creditworthiness
100
Annual Fee:
No annual fee
60
Other Fees:
Cash advance fee of either $10 or 3% of the amount of each cash advance, whichever is greater; Late payment fee of up to $39
90
Rewards:
Unlimited 1.5X miles on every purchase for your business
90
Intro Bonus:
Earn a one-time bonus of 20,000 miles – equal to $200 in travel – once you spend $3,000 on purchases within the first 3 months from account opening
80
Perks:
Free extra cards for employees, and the main cardholder accrues all the rewards; Visa Business Benefits, including auto damage and collision protection, emergency and travel assistance services and purchase protection

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Editor’s Note: Some of the offers on this page are no longer available. 

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.

Review

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 15.24% – 23.24% 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.

Advantages
  • Additional employee cards at no charge.
  • Rewards never expire as long as the account is open and in good standing.
  • There are no rotating or special bonus categories to keep track of.
Disadvantages
  • The penalty APR for late payments is high, plus there’s a penalty fee, so if your business might not make a payment on time, you may want to consider a card with a more forgiving policy.
  • The balance transfer APR rate is the same as the purchase APR, 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.

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 15.24% to 23.24% based on creditworthiness.
  • You’ll pay no foreign transaction fees on purchases made outside the U.S.
  • Balance transfers charge a variable APR of 15.24% to 23.24% based on creditworthiness.
  • There’s a penalty APR of 31.65% 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

Ink Business Cash℠ Credit Card
  • Earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year
  • Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year
  • Earn 1% cash back on all other card purchases with no limit to the amount you can earn
Credit Needed

Regular APR

0% fixed Intro APR for the first 12 months that your Account is open. After that, 15.49% to 21.49%, based on your creditworthiness. These APRs will vary with the market based on the Prime Rate.

Annual Fee

No Annual Fee.

Balance Transfers Intro APR

0% fixed Intro APR for the first 12 months that your Account is open. After that, 15.49% to 21.49%, based on your creditworthiness. These APRs will vary with the market based on the Prime Rate.

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?


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.