Capital One Spark Miles Select for Business review
Why you can trust Bankrate
At Bankrate, we have a mission to demystify the credit cards industry — regardless or where you are in your journey — and make it one you can navigate with confidence. Our team is full of a diverse range of experts from credit card pros to data analysts and, most importantly, people who shop for credit cards just like you. With this combination of expertise and perspectives, we keep close tabs on the credit card industry year-round to:
- Meet you wherever you are in your credit card journey to guide your information search and help you understand your options.
- Consistently provide up-to-date, reliable market information so you're well-equipped to make confident decisions.
- Reduce industry jargon so you get the clearest form of information possible, so you can make the right decision for you.
At Bankrate, we focus on the points consumers care about most: rewards, welcome offers and bonuses, APR, and overall customer experience. Any issuers discussed on our site are vetted based on the value they provide to consumers at each of these levels. At each step of the way, we fact-check ourselves to prioritize accuracy so we can continue to be here for your every next.
Bankrate follows a strict editorial policy, so you can trust that we’re putting your interests first. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions.
We value your trust. Our mission is to provide readers with accurate and unbiased information, and we have editorial standards in place to ensure that happens. Our editors and reporters thoroughly fact-check editorial content to ensure the information you’re reading is accurate. We maintain a firewall between our advertisers and our editorial team. Our editorial team does not receive direct compensation from our advertisers.
Bankrate’s editorial team writes on behalf of YOU – the reader. Our goal is to give you the best advice to help you make smart personal finance decisions. We follow strict guidelines to ensure that our editorial content is not influenced by advertisers. Our editorial team receives no direct compensation from advertisers, and our content is thoroughly fact-checked to ensure accuracy. So, whether you’re reading an article or a review, you can trust that you’re getting credible and dependable information.
How We Make Money
You have money questions. Bankrate has answers. Our experts have been helping you master your money for over four decades. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey.
Bankrate follows a strict editorial policy, so you can trust that our content is honest and accurate. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. The content created by our editorial staff is objective, factual, and not influenced by our advertisers.
We’re transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money.
Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for placement of sponsored products and, services, or by you clicking on certain links posted on our site. Therefore, this compensation may impact how, where and in what order products appear within listing categories. Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range can also impact how and where products appear on this site. While we strive to provide a wide range offers, Bankrate does not include information about every financial or credit product or service.
This content is powered by HomeInsurance.com, a licensed insurance producer (NPN: 8781838) and a corporate affiliate of Bankrate.com. HomeInsurance.com LLC services are only available in states were it is licensed and insurance coverage through HomeInsurance.com may not be available in all states. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.
Capital One Spark Miles Select for Business Card Overview
While COVID-19 still has a lot of business travel grounded, now’s a great time to start stockpiling rewards so you can save some cash when you’re ready to hit the road again. The Capital One Spark Miles Select for Business offers an easy way to earn travel miles you can transfer to several different hotels and airlines.
This Capital One business credit card comes with a $0 annual fee and earns a respectable 1.5 miles for every dollar you spend. While it doesn’t have a lot of bells and whistles like some other travel rewards credit cards, it’s a solid option for small-business owners that don’t want to worry about justifying a higher annual fee.
- Card overview
- Advantages and disadvantages
- Current offer details
- Value of rewards
- Key cardholder perks
- Understanding the fees
- Capital One Spark Miles Select for Business vs. other business cards
- Is the Capital One Spark Miles Select for Business card worth getting?
What are the advantages and disadvantages?
- New cardmember bonus is pretty low compared to other cards in its category
- You can only earn the 5X bonus on travel if you use Capital One’s travel portal
A deeper look into the current card offer
- Rewards rate: 5X miles per dollar on hotels and car rentals through Capital One Travel, 1.5X miles per dollar on all other purchases
- Welcome offer: Earn 20,000 miles when you spend $3,000 in the first three months
- Annual fee: $0
- Purchase intro APR: 0 percent for 9 months
- Balance transfer intro APR: N/A
- Regular APR: 13.99 percent to 23.99 percent variable
Current welcome offer
Capital One is currently offering new cardholders 20,000 bonus miles if they spend at least $3,000 within the first three months of opening an account, worth $200 if you spend it on travel. Once you qualify for the bonus, it should be added to your account within two billing cycles. This offer is only for new cardholders, so those who already have accounts can’t qualify.
It’s easy to earn rewards with this Capital One business card, especially if you travel a lot for business.
The Spark Miles Select for Business lets you earn a whopping 5 miles per dollar for booking hotels and car rentals through Capital One Travel. All other purchases earn 1.5 miles per dollar.
You can redeem miles right away with no required minimum, and miles will not expire as long as the account is open. You can redeem your miles on flights, hotels or vacation packages using a couple of different methods, including for travel purchases already made with your card and for new hotel, flight or car rental bookings.
You can also transfer miles to one of Capital One’s travel partners.
How much are rewards worth?
Capital One miles are worth 1 cent each when redeemed for travel. Other redemption values vary, but generally, your best bet for maximizing rewards value is to stick with travel redemptions. Redeeming for cash back, for example, reduces the value of your miles.
The Spark Miles Select for Business might not be the flashiest card on the market, but it does come with a few perks.
With the Spark Miles Select for Business, you will receive text messages alerting you to any suspicious account activity, $0 fraud liability if someone were to make unauthorized charges on your card, extended warranties on eligible purchases made with the card and 24/7 customer support.
You may also add employees to your Capital One business card account. The card allows you to set spending limits for your employees, and you have the option of assigning an account manager to keep track of all purchases, spending and rewards, taking the hassle off of you.
Rates and Fees
Upon opening your account, there is a 0 percent introductory APR for nine months on purchases. After that, expect to pay a variable APR ranging from 13.99 percent to 23.99 percent depending on your credit history. Balance transfer APRs are also variable and range from 13.99 percent to 23.99 percent. The card has a variable cash advance APR of 26.99 percent and a penalty variable APR of 29.4 percent for payments made later than 25 days after a billing cycle.
Forget about pricey annual and foreign transaction fees with the Spark Miles Select for Business, as you’ll pay no foreign transaction fees for purchases made abroad. But the card does require an up to $39 late payment fee and a cash advance fee of either 3 percent of the total cash advance or $10, whichever is greater.
How the Capital One Spark Miles Select for Business compares to other business cards
The Spark Miles Select for Business is a respectable travel rewards credit card, blowing cards like the U.S. Bank Business Platinum out of the water when it comes to rewards and its new cardmember bonus. However, the U.S. Bank Platinum offers a better intro APR and lower regular APR, so if you plan to carry a balance from month to month, it may be a better option.
The Spark Miles Select for Business’ 1.5 miles per dollar on every purchase is really good compared to other business credit cards with no annual fee, but Chase’s Ink Business Cash® Credit Card might be worth looking into if you spend a lot each year in one of its bonus categories that earn either 5 percent or 2 percent cash back (on the first $25,000 spent in combined purchases each account anniversary year). The Ink Business Cash also offers a better sign up bonus than the Spark Miles Select for Business, worth $750 (after spending $7,500 in the first 3 months).
|Card||Rewards rate||Annual fee||Welcome bonus||Intro APR offer|
|Capital One Spark Miles Select for Business||
||$0||Earn 20,000 bonus miles after spending $3,000 within your first three months||0% intro APR for the first 9 months on purchases, then 13.99% to 23.99% variable|
|U.S. Bank Business Platinum||None||$0||None||0% intro APR on purchases and balance transfers for the first 15 billing cycles, then 9.99% to 17.99% variable|
|Ink Business Cash Credit Card||
||$0||$750 cash bonus if you spend $7,500 in the first three months||0% intro APR on purchases for the first 12 months, then 13.24% to 19.24% variable|
Best cards to pair the Capital One Spark Miles Select for Business with
The Spark Miles Select for Business would make a great complement to a hotel or airline-specific travel credit card. If you travel often for work, you can use your Spark card to earn miles you can easily transfer to one of Capital One’s travel partners. Using your favorite transfer partner’s credit card along with it can earn you additional travel perks like free checked bags and bonus miles on flights or upgrade bonuses and free nights at hotels, stretching your Spark Miles Select even further.
Bankrate’s Take—Is Capital One Spark Miles Select for Business worth it?
This Capital One credit card is great for those who travel infrequently but want to take the edge off the cost when they do. You’ll earn 1.5 miles for every dollar you spend with the opportunity to earn more if you book travel through Capital One.
It’s not a great option for people who travel a lot for business, however. In that case, you’ll be much better off investing in a travel rewards card that earns you bonus points or miles on your travel purchases and gives you perks like airport lounge access, free room upgrades or free checked bags.
The information about the Capital One Spark Miles Select for Business card and U.S. Bank Business Platinum has been collected independently by Bankrate.com. The card details have not been reviewed or approved by the card issuer.