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.
If you’re interested for more offers from Capital One, check out all the ongoing Checking/Savings account bonuses!
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.
Table of Contents
Capital One Spark Miles for Business Summary
Earning The Capital One Spark Miles 50K Bonus Miles
Take advantage of the Spark Miles card’s 50,000 bonus miles introductory offer. To qualify, charge at least $4,500 to your card within the first 3 months of opening your account.
Here are some ideas on meeting the spending requirement:
|• Plastiq: Plastiq allows you to pay for expenses that you generally won’t be able to with your card like rent, tuition, auto lease, mortgage payment, and more. There’s a 2.5% processing fee for using your credit card. However, this’ll be worth the card bonus you’ll get. There’s also a referral program where you can earn “Fee-Free Dollars” to use towards processing fees. See our Plastiq review.|
|• Fund Checking accounts with your card: Many banks will allow you to fund the opening deposit with a credit card. Consider opening Checking accounts that also offer a sign-up bonus. This way, you can work towards bonuses from two different sources. Big banks like Chase, HSBC, Huntington, and TD Bank have great offers and allow credit card funding. You can generally fund anywhere from $50 to $1,000 towards the opening deposit with a credit card, depending on the bank.|
|• Buy gift cards: Consider buying gift cards with your credit card that you can then spend later at your leisure. Individual merchant cards (restaurants, gas stations, supermarkets, etc.) generally don’t have purchase fees, so this is a plus. On the other hand, American Express and Visa gift cards will have purchase fees. Amazon gift cards are a great idea as you can shop for almost anything there with no purchase fees either. Unfortunately, Citi credit cards tend to code gift card purchases as Cash Advances and there’ll be a fee. Call in to customer service and lower your Cash Advance limit to $0 before purchasing gift cards. You can also buy discounted gift cards as well from Raise or find gift cards on eBay.|
|• Everyday spending & bills: Always using your credit card for everyday spending, such as for dining, gas, groceries, etc. You can also use your credit card to pay for things like insurance bills, property taxes and income taxes. However, you’ll have to consider the convenience fees.|
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 these airline transfer partner options with the Capital One Spark Miles:
|Aeromexico Club Premier||Air France KLM Flying Blue||Air Canada Aeroplan|
|Alitalia MilleMiglia Program||Asia Miles (Cathay Pacific)||Avianca LifeMiles|
|Emirates Skywards||Etihad Airways Etihad Guest||EVA Air Infinity MileageLands|
|Finnair Plus||Hainan Airlines Fortune Wings Club||JetBlue TrueBlue|
|Qantas Frequent Flyer||Qatar Airways Privilege Club||Singapore Airlines KrisFlyer|
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.
On average, each Spark mile is worth up to $0.014 when you take advantage of their transfer partners. It’s a good value considering the average across different rewards cards is just $0.01 per point.
Spark Miles for Business cardholder receive a few purchase and travel benefits. These include auto rental collision damage waiver, purchase security, extended warranty protection, and travel and emergency assistance services.
No Foreign Transaction Fees: Planning on traveling internationally? Unlike most cards that charge a 3% foreign transaction fee, the Spark Miles for Business doesn’t charge one.
Free Employee Cards: At no additional cost, you can add free employee cards. Employee cards will earn you rewards from their purchases.
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.
Other Credit Cards To Consider
The Chase Ink Business PreferredSM Card offers 80,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening. That's $1,000 toward travel when you redeem through Chase Ultimate Rewards®.
You'll earn 3 points per $1 on the first $150,000 spent on travel and select business categories each account anniversary year; 1 point per $1 on all other purchases - with no limit to the amount you can earn. Furthermore, points are worth 25% more when you redeem for travel through Chase Ultimate Rewards.
This card does come with a $95 annual fee but does not have any foreign transaction fees.
Learn more about this card and find out how you can apply here.
The Best Bank Offers are updated here. See the below pages to get started with some of the best offers:
• Chase Bank Offers. Chase offers a range of attractive Checking, Savings and Business Accounts. Chase has a great selection of sign-up bonuses in comparison to other big banks.
• Huntington Bank Offers. Huntington Bank has high bonus amounts available through their Checking and Business Checking. Huntington also offers a Business Premier Money Market Account.
• Discover Bank Offers. Discover Bank offers top cashback, savings, money market accounts and CD rates for you to take advantage of. Discover has industry leading selections to cater to your banking needs.
• TD Bank Offers. TD Bank consistently offers a fantastic selection of checking accounts to cater to your banking needs. However, savings account offers are less frequently available.
|Chase Premier Plus CheckingSM||$300 Cash||Review|
|Chase Total Checking® + Chase SavingsSM||$350 Cash||Review|
|Chase Total Business Checking®||$200 Cash||Review|
|Chase SapphireSM Checking||$750 Cash||Review|
|Discover Bank Online Savings||$200 Cash||Review|
|Discover Cashback Debit||$360 Cash||Review|
|Chase College CheckingSM||$100 Cash||Review|
|Chase Private Client||$1,250 Cash||Review|
|TD Bank Beyond Checking||$300 Cash||Review|
|TD Bank Convenience CheckingSM||$200 Cash||Review|
|Huntington Bank Unlimited Plus Business Checking||$750 Cash||Review|
|Huntington Bank Unlimited Business Checking||$400 Cash||Review|
|Huntington Bank Business Checking 100||$200 Cash||Review|