The Capital One® Spark® Miles for Business is a solid card, perfect for business owners looking to earn flexible rewards for their business expenses. It comes with a $95 that’s waived for the first year.
This card is best for everyday purchases as it offers an unlimited 2X miles on all purchases. Thus, it’s useful to fill in the gaps that other cards offer no bonuses on.
It’s also a great starter business card due to the 2X miles it offers. It works well when you pair it up with one that offers bonuses on categories, such as travel and dining or office supplies. Nonetheless, this depends on the types of spending your business does most.
New cardholders can earn 50,000 bonus miles when you spend $4,500 in the first 3 months of account opening.
Editor’s Note: If you have a side business such as selling on eBay, Craigslist, or do freelance work, then your business is called “sole proprietorship.” Simply use your name as business ID and Social Security number as tax ID.
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Capital One Spark Miles for Business Summary
With the Capital One® Spark® Miles for Business:
• Earn 2 miles per $1 on every purchase
• Plus, a one-time bonus of 50,000 miles once you spend $4,500 on purchases within 3 months from account opening
• Miles won't expire for the life of the account, and there are no categories to limit where or what you buy
• $0 intro annual fee for the first year; $95 after that
• There's no limit to the amount of miles you can earn
• Redeem miles for travel, cash back, gift cards and more
• No foreign transaction fees and fly on any airline, anytime, with no blackout dates or seat restrictions
The Capital One Spark Miles has a straightforward earning structure. You’ll earn 2 miles for every dollar spent with no cap on how much you can earn. There are no foreign transactions with this card, so you can continue earning your rewards outside the U.S.
Though it keeps its simplicity by not having any bonus categories, there may be other more rewarding options for certain purchases. For instance, The Business Platinum® Card from American Express earns 5X points on flights purchased through Amex, and the Chase Ink Business CashSM Credit Card earns 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on cellular phone, landline, internet and cable TV services each account anniversary year.
Nonetheless, many business credit cards limit how much you can earn in bonus rewards categories. Once you hit those limits, you’ll earn a low rewards rate for a period of time. If your business spends a lot in these categories and is small enough to know you won’t reach the spending cap each year, this may be alright.
However, if you know your business will reach past the spending cap within a few months, or you don’t want to be tied to specific earning categories, the Capital One® Spark® Miles for Business may be the best option.
Redeem your miles for purchases from virtually any travel service at a flat rate of 1 cent per mile. There are no blackouts or seat restrictions and no minimum to redeem.
But, if you’re looking for simplicity, you can just redeem your miles at a fixed value of 1 cent apiece when booking travel through Capital One. You can also use Capital One’s Purchase Eraser to “erase” any eligible travel purchase you’ve made with the card in the last 90 days. Eligible travel purchases aren’t limited to flight and hotel bookings, but also include things like Uber rides and Airbnb stays. And, there’s no minimum redemption amount.
Transfer Miles To Airline Partners
As of December 2018, you can transfer your miles to a variety of transfer partners at an increased ratio, giving you the ability to get even more than 1 cent per mile. Generally transferring your miles will get you the highest value out of your points. You have 14 airline transfer partner options with the Capital One Spark Miles:
- Air Canada (Aeroplan)
- Air France & KLM (Flying Blue)
- Cathay Pacific
- Hainan Airlines
- Qatar Airways
- Singapore Airlines
The transfer ratio is 2:1.5, so you’ll get 1.5 airline miles for every 2 Spark miles you transfer. For Emirates and Singapore Airlines, they have a 2:1 transfer ratio.
Easy earning and flexible redemption options make the Capital One® Spark® Miles for Business a great choice for small business owners, especially for those who frequently travel. The unlimited 2X miles on all purchases is pretty handy, especially when paired with another card that offers bonus categories to maximize your rewards.
However, if you’re looking for other flexible cash options or you’re looking for a card that earns better rates for your earning purposes, consider other credit card options.
Learn more about this card and find out how you can apply here.
Editorial Note: The editorial content on this page is not provided by any bank, credit card issuer, airline, or hotel chain, and has not been reviewed, approved, or otherwise endorsed by any of these entities. Opinions expressed here are the author’s alone, not those of the bank, credit card issuer, airline, or hotel chain, and have not been reviewed, approved, or otherwise endorsed by any of these entities.