Our Verdict
Small business owners can earn an unlimited 2 Capital One Rewards miles per dollar spent on every purchase they make with the Capital One Spark Miles for Business*. Rewards can be used to book travel, transferred to more than a dozen airline and hotel partners or redeemed for cash, gift cards and more. New cardholders can also earn 50,000 bonus miles after spending $4,500 on purchases within the first 3 months of account opening as a welcome bonus.
Pros
- Free employee cards
- Earn 2x miles on all purchases with no limits
- No blackout dates or seat restrictions
- Get two complimentary visits per year to Capital One Lounges or Plaza Premium Lounges
Cons
- Sky-high penalty APR
- High regular APR
Highlights
- Earn a one-time bonus of 50,000 miles once you spend $4,500 on purchases within the first 3 months from account opening
- Earn unlimited 2X miles per dollar on every purchase, everywhere, no limits or category restrictions, and miles won’t expire for the life of the account
- Use miles to cover eligible travel purchases to 15+ travel loyalty programs
- Redeem your miles instantly for any travel-related purchases, from flights and hotels to ride-sharing services
- $0 intro annual fee for the first year; $95 after that
- Free employee cards which also earn unlimited 2X miles from their purchases
Introduction
The Capital One Spark Miles for Business* offers many perks that small business owners can use. First, they’ll earn an unlimited 2 miles per dollar on every purchase and 5 miles per dollar on hotels and rental cars booked through Capital One Travel. Plus the card comes with a welcome bonus: 50,000 bonus miles after spending $4,500 on purchases within the first 3 months of account opening.
Additional benefits of the Capital One Spark Miles for Business* credit card also provide value to entrepreneurs. There are no foreign transaction fees on international purchases and you can receive up to $100 in reimbursement for Global Entry or TSA PreCheck application fees every four years. Employee credit cards can also be added for no additional charge.
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Quick Facts
- Annual fee: $0 intro for the first year; $95 after that
- Earn 2 miles per dollar on every purchase and 5 miles per dollar on hotels and rental cars booked through Capital One Travel
- Earn 50,000 bonus miles after spending $4,500 on purchases within the first 3 months of account opening
Capital One Spark Miles for Business* Rewards
Earning Rewards
Whether you’re paying for supplies, inventory or other business purchases, you’ll earn unlimited 2 miles per dollar on every purchase and 5 miles per dollar on hotels and rental cars booked through Capital One Travel.
New cardholders earn the following welcome bonus: 50,000 bonus miles after spending $4,500 on purchases within the first 3 months of account opening.
Purchases made through employee credit cards also earn rewards at the same rate and count towards meeting the welcome bonus minimum spending requirements.
Redeeming Rewards
The rewards you earn with the Capital One Spark Miles for Business* credit card do not expire. As long as your account is open and in good standing, you can redeem them.
You can use your rewards to make reservations for flights, car rentals or hotels. They can also be redeemed online or through the Capital One Travel at a value of one cent per mile. Keep in mind that hotels may not recognize elite status or award points when booking through a third party. In those situations, you are better off paying for the hotel reservation with your card then taking a statement credit towards the purchase with your rewards.
Capital One offers over a dozen airline and hotel travel partners to maximize the value of your miles. The transfer ratio of each partner varies. These partners include Air France/KLM Flying Blue, Aeroplan and Accor. Note that Capital One is the only bank partner whose partnership with Accor could come in handy, especially for international travel where Accor has a strong presence.
Miles can also be redeemed for non-travel awards. You can redeem miles for a check, account credit, gift cards and more. Rates for these redemptions vary, but in general are less than the penny-a-point value you will receive if you redeem miles for travel.
Rewards Potential
Small business owners and entrepreneurs want a rewards credit card that provides the most benefits based on how they spend their money. To determine the rewards potential of the Capital One Spark Miles card we have to look at the bonus categories and calculate what an average sole proprietor might spend in those areas.
Forbes Advisor uses data from various government agencies in order to determine both baseline income and spending averages across various categories. The 70th percentile of wage earning households bring in $116,000 annually and we base spending on that number.
|
Category
|
Earning Rate
|
Estimated Annual Spend
|
Estimated Annual Earnings
|
|
Hotels through Capital One Travel
|
5X
|
$2,015
|
10,075
|
|
All other purchases
|
2X
|
$34,162
|
68,324
|
|
Total: 78,399 Capital One Miles
|
|||
Other Capital One Spark Miles for Business* Benefits
- Global Entry or TSA PreCheck. Receive up to $100 reimbursement for the application fee every four years.
- Free employee cards. Employee purchases earn rewards like the primary cardholder and count towards meeting minimum spending requirements.
- Extended warranty. Eligible purchases get extended warranty coverage of three years or less by an extra year. Coverage is up to $10,000 per claim and $50,000 per cardholder.
Fine Print
Interest Rates
- Regular APR: 26.24% Variable
Fees
- Annual fee: $0 intro for the first year; $95 after that
- Balance transfer fee: N/A
- Foreign purchase transaction fee: None
How the Capital One Spark Miles for Business* Stacks Up
Capital One Spark Miles for Business* vs Ink Business Unlimited® Credit Card
The Ink Business Unlimited® Credit Card earns 1.5% cash back rewards on every business purchase (equivalent to 1.5% cash back). There is no limit to the number of points you can earn and the points do not expire. The welcome bonus allows new cardholders to earn $750 bonus cash back after spending $6,000 on purchases in the first 3 months from account opening.
Chase Ultimate Rewards® points can be redeemed for cash back, travel, gift cards and more at a value of 1 cent per point. You can transfer points to other Ultimate Rewards credit cards, like the Chase Sapphire Preferred® Card, to unlock potentially more value when booking travel or transferring points to over a dozen hotel and airline partners.
Capital One Spark Miles for Business* vs The Blue Business® Plus Credit Card from American Express
The Blue Business® Plus Credit Card from American Express (Terms apply, see rates & fees) earns 2 Membership Rewards points per dollar on everyday business purchases such as office supplies or client dinners up to the first $50,000 in purchases per year, then 1 point per dollar on all other purchases.
All of the points you earn can be combined with your other personal and small business American Express credit cards into one Membership Rewards account. These points can be redeemed for travel, statement credits, gift cards and more. The value of these redemptions varies from 0.6 cents to over 1 cent per point, depending upon how you redeem them. Points can also be transferred to airline and hotel partners, such as Cathay Pacific, Delta, Qantas and Hilton and points can be much more valuable when redeemed in this way.
Capital One Spark Miles for Business* vs. Bank of America® Business Advantage Travel Rewards World Mastercard® credit card
Another business credit card to consider is the Bank of America® Business Advantage Travel Rewards World Mastercard® credit card. It earns 3 points per dollar spent on car, hotel or airline travel booked through the Bank of America® Travel Center and 1.5 points per dollar spent on all other purchases.
Based on your relationship with Bank of America, you may qualify for up to 75% bonus points with Preferred Rewards. This means that everyday spending earns 2.62 points per dollar. There is a $0 annual fee and new cardmembers can earn 30,000 online bonus points after spending $3,000 in the first 90 days of account opening.
Find the Best Business Credit Cards of 2024
Is the Capital One Spark Miles for Business Credit Card for You?
The Capital One Spark Miles for Business* is a solid business credit card that earns 2 miles per dollar on every purchase and 5 miles per dollar on hotels and rental cars booked through Capital One Travel. With transfers to partner airlines and hotels, cardholders can receive even more value. If you want a hassle-free way to earn rewards toward future travel, this card could be what you’re looking for.
Just keep in mind that other cards have similar earning structures but offer cash back, which is the most flexible reward of them all.
Methodology
Forbes Advisor considers a variety of criteria when assigning credit cards a rating. Cards are graded based on numerous factors, including:
- Annual fees
- Welcome bonus offers
- Ongoing earning rates
- Value of individual points
- Included travel or merchant credits
- Additional cardholder benefits
Card features we expect cardholders to use the most often are weighted more heavily in our ratings. Altogether, the factors came together to provide a star rating for each individual card.
Read more: How Forbes Advisor Rates Credit Cards
To view rates and fees for the The Blue Business® Plus Credit Card from American Express please visit, this page.
*The information for the following card(s) has been collected independently by Forbes Advisor: Capital One Spark Miles for Business. The card details on this page have not been reviewed or provided by the card issuer.
