Capital One Spark Miles for Business Card Review

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Capital One Spark Miles for Business

Capital One Spark Miles for Business Card Review

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Ever heard the expression, “If it ain't broke, don't fix it?” Well, that's exactly the approach Capital One has taken with its *CapOne Spark Miles* card.

After hitting a home run with the *capital one venture card*, the bank thought to duplicate that success with a business version of its travel rewards card – and they're succeeding. If you're eligible for a small business credit card – and trust us, you just might be – the Spark Miles Card is one that needs to be on your radar.

With Capital One's Spark Miles for Business card, you'll get nearly identical benefits to its personal counterpart plus a 50,000-mile bonus after spending $4,500 in the first three months. 

Beyond the miles you'll get with the welcome offer bonus, business owners will earn unlimited 2x miles on all their purchases. That means that whether you're buying supplies, paying vendors, or just keeping the lights on, you'll be earning valuable miles for all your business expenses. On top of that, you'll also earn 5x miles for hotel and rental car bookings through the Capital One Travel Portal as well as two complimentary visits each year to Capital One Lounges. All of this without paying an annual fee in the first year (and just $95 each year after that).

Read on to find out why this card deserves a spot in your wallet.

Are you considering opening a new business card? See our list of the best business card offers right now! 

 

Who Can Apply For a Business Card?

Do you have any income from freelance work – or plans to start freelance work? Have you ever sold an item on eBay, Facebook Marketplace, Etsy, or other platforms, or have plans to do so in the future? If you answered yes to either of these questions, you have what the banks would consider a small business!

At the end of the day, if you are selling any goods or services, or contracting with a company to do so in an attempt to make a profit, you have a small business and thus are typically eligible to apply for a small business credit card. That makes it possible for many Americans to apply for a business credit card.

While running a big business would obviously qualify you to open a business credit card, you can also get approved for a small-business credit card like the Spark Miles for Business Card with a part-time side hustle, a freelance job, a gig economy job, or even by selling goods on online marketplaces like Etsy, Facebook Marketplace, Craigslist and more. In fact, many Americans have what the banks would consider a small business and don't even realize it.

Just keep in mind: You should never lie or attempt to mislead a bank when applying for a business credit card. It's important to have a legitimate business, even if that business is just your own.

Read more: You Might Be Eligible for Business Credit Cards & Not Know It

 

Capital One Spark Miles: Benefit Overview

  • *CapOne Spark Miles*
  • Earn unlimited 2x miles on every purchase.
  • Earn unlimited 5x miles on hotels and rental cars booked through Capital One Travel.
  • Get up to a $100 statement credit for TSA PreCheck or Global Entry enrollment every four years.
  • Get two complimentary visits to Capital One Lounges each year.
  • Free employee cards: Track employee spending while earning all the rewards from their purchases.
  • Annual fee: $95 (waived for the first year)

 

*CapOne Spark Miles*

 

Learn more about the *CapOne Spark Miles*

 

Capital One Spark Miles: Benefit Breakdown

Welcome Bonus Offer

Right now, new applicants can earn a 50,000-mile bonus when signing up for the *CapOne Spark Miles* and spending $4,500 in the first three months of opening the account. After completing the minimum spending requirement, you'd have a bare minimum of 59,000 Venture Miles in your account since the card also earns at least 2x miles on every dollar spent. That's good for at least $590 worth of free travel.

Since Capital One allows card members to redeem miles towards any travel purchase, this bonus couldn't be simpler to use – making it the ideal starter travel rewards card for any business owner. And if you're willing to put in a little work and transfer those miles to one of Capital One's travel partners, you're likely to get even more value out of your new account bonus.

 

Capital One Lounge Access

With the Spark Miles for Business Card, you'll get two complimentary visits to the Capital One Lounges each year. As of publication, there is only one Capital One Lounge in Dallas (DFW) – but more are on the way on in Denver (DEN) and Washington D.C.-Dulles (IAD) – both of which are supposed to be opening later this year.

The only other confirmed Capital One Lounge in the pipeline is slated for Las Vegas (LAS), but an exact timeline for opening that lounge hasn't been announced.

 

capital one dfw lounge
Capital One Lounge in Dallas-Fort Worth (DFW)

 

Check out our review of the Capital One Lounge in Dallas!

If the new lounges coming on board are anything like the space in Dallas, cardholders are in for a treat. The Capital One Lounge in Dallas showed just how serious the bank is about competing in the premium travel rewards credit card space by giving travelers a comfortable place to relax with locally crafted food and drink options, shower suites, an exercise room, and of course, plenty of comfortable seating options for both business and leisure travelers.

Related reading: Capital One Landings Coming to  New York City-LaGuardia and Washington, D.C.-Reagan

 

Global Entry or TSA PreCheck Credit

Add the Spark Miles for Business to the growing list of credit cards offering up to a $100 credit for either TSA PreCheck or Global Entry. Membership in either program is good for five years and Spark Miles cardholders will get to use this credit every four years to ensure they get their renewal done before it expires.

 

capital one venture x card

 

If you plan for any sort of international travel, spring for Global Entry as it automatically includes a TSA PreCheck membership. At just $100, the statement credit provided by the Spark Miles for Business credit card will completely cover your membership cost for as long as you keep the card open.

Taking advantage of this credit is simple. Just use the card when you pay for your application and voilà: Your credit will kick in to cover the entire cost.

Read more: Global Entry vs. TSA PreCheck: Which is Better for You?

 

Free Employee Cards

With the ability to add free employee cards, you can track employee spending and earn rewards in the process.

As a business owner, you're bound to wear a lot of hats and time can quite literally be money for you. Giving an employee the ability to make business purchases on your behalf will free you up for more important tasks – and you won't even have to worry about approving an expense report in the process.

You can even set individual spending limits on each employee card and use the card lock feature to freeze the employee's card if it gets misplaced, stolen, or account security is of concern.

 

Annual Fee

The Capital One Spark Miles for Business Card comes with a reasonable $95 annual fee that is waived for the first year of card membership. That $0 introductory annual fee makes it the perfect card for business owners just getting started with travel rewards.

Even after the first year, the card's benefits like the two complimentary visits to Capital One Lounges annually, TSA PreCheck or Global Entry credit, and increased 5x mile earning on hotels and rental cars make it worth having for the long-haul.

 

No Foreign Transaction Fees

You won't be charged foreign transaction fees when using your Capital One Spark Miles for Business Card abroad.

This makes it a solid option to use while traveling out of the country. You'll still get 2x miles on any purchases you make abroad without paying any additional fees or worrying about which card to swipe.

 

Capital One Spark Miles: Earning Miles

Racking up miles with the Capital One Spark Miles Card couldn't be simpler. The Card's easy-to-use rewards structure means you'll be earning a respectable 2x Venture Miles on all your business expenses – without any limits or restrictions.

If your business spends a lot on travel, you can do even better by booking your hotels and rental cars through the Capital One Travel portal and earning 5x miles on those purchases. While we typically steer clear of third-party sites and online travel agencies, Capital One has added some awesome new features to their portal that can turn that logic on its head. This means that while you might be sacrificing a little to book through the travel portal, the extra points you earn should more than make up for it.

 

Capital One Spark Miles: Redeeming Miles

There are plenty of worthwhile ways to redeem Capital One miles.

Let's start simple: Covering your travel purchases with miles. Just book a flight, hotel, or any travel expense with your Spark Miles for Business Card, then go back and remove it from your statement later with miles.

Read more: How I Booked a Bucket List Golf Trip with Capital One Miles

When you cover your travel purchases with Capital One miles, every single mile is worth one cent each toward travel. The same is true when using another method to book travel, Capital One's travel portal, where you can search for flights, hotels, or rental cars and book directly through Capital One. By first booking travel through the Capital One Travel portal, you'll earn extra rewards and still leave yourself open to cover the charge with miles. This is a true win-win!

That means 50,000 Capital One Miles are worth at least $500 toward travel. But you could do much, much better.

Over the last few years, Capital One has solved a glaring weakness by leveling up its transfer partner program with new additions and improved transfer rates. Now, you can transfer your Capital One Venture Miles to 18 different airline and hotel programs – most on a 1:1 basis. That means 50,000 Capital One miles can become 50,000 Virgin points. Or 50,000 miles with Turkish Airlines Miles & Smiles. Or 50,000 Air Canada Aeroplan miles. You get the idea…

 

delta one suite

 

With this improved transfer partner program, these miles are potentially worth much, much more than one cent per point and that makes Capital One Miles a genuine double threat.

Here's the full list of Capital One transfer partners:

 

ProgramTypeRatioTransfer Time
AeromexicoAirline1:1Instant
Air Canada Aeroplan Airline1:1Instant
Air France/KLMAirline1:1Instant
Avianca LifeMilesAirline1:1Instant
British AirwaysAirline1:1Instant
Cathay Pacific AsiaMilesAirline1:1Up to five business days
Emirates Airline1:1Instant
EtihadAirline1:1Up to 1 day
EVA AirAirline2:1.5Up to five business days
FinnairAirline1:1Instant
QantasAirline1:1Instant
SingaporeAirline1:1Instant
TAP Air PortugalAirline1:1Same day
Turkish AirlinesAirline1:1Same day
Virgin RedOther1:1Same day
AccorHotel2:1Up to two business days
WyndhamHotel1:1Same day
Choice HotelsHotel1:1Same day

 

Aside from travel-related redemptions, you can also use your miles for thousands of experiences like sporting events, concerts, and more through Capital One Entertainment. Less fun, but equally useful options include redeeming for cash, gift cards, or even Amazon purchases.

Read more: 7 Sweet Spots for Using Capital One Miles

 

Which Cards Compete With the Spark Miles Card?

With simple rewards earning and a low annual fee, the Spark Miles for Business Card is no doubt one of the best business cards on the market. But it's got some competition.

American Express has the *blue biz plus* which earns 2x Membership Rewards on all purchases up to $50,000 in spending per year. The card doesn't have an annual fee (see rates & fees) which is great, but the cap on 2x points earning ultimately limits the amount of rewards your business can earn.

The *ink unlimited* from Chase offers uncapped 1.5x Ultimate Rewards points on all purchases with no annual fee. But the biggest difference between these cards is how you can use the points you're earning. With the Ink Unlimited, you'll only earn cash back unless you also have a card that earns Chase Ultimate Rewards (like an *ink preferred* or a personal Chase Sapphire card). If you prefer earning cash back, this won't be an issue, of course.

Read more: How to Transfer Cash Back & Points Between Your Chase Credit Cards

Capital One even provides a little competition of its own with the Venture X Business Card. This card earns the same unlimited 2x miles per dollar spent, everywhere, with no limits or category restrictions but comes with a higher $395 annual fee. Sure, the Venture X Business is packed with benefits like an annual $300 travel credit, a 10,000-mile anniversary bonus, airport lounge access, and top-notch travel insurance that more than offset the fee – but for many the Spark Miles card's lower annual fee will make it the clear winner.

Read next: A Review of the Capital One Venture X Business Card

 

Bottom Line

With the Spark Miles for Business Card, Capital One took the recipe from their Venture Rewards Card and packaged it in a business version. The card earns unlimited 2x miles on their everyday business purchases and 5x miles on hotels and rental cars booked through Capital One Travel.

To cap things off, it also mixes in some travel benefits like a TSA PreCheck or Global Entry credit and two complimentary visits to the Capital One Lounge each year. All of these benefits and perks for a low $95 annual fee make this card a worthy addition to any business owner's wallet.

 

*CapOne Spark Miles*

 

Learn more about the *CapOne Spark Miles*

 

Editorial Disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

Disclaimer: The responses below are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser’s responsibility to ensure all posts and/or questions are answered.

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