Capital One Spark Miles Business Card Review (2022)

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There is a lot of value to be had in getting the right business credit cards as they can offer perks and rewards that you can leverage to get huge value. The perks will be more than justified in some cases.

I wanted to take a closer look at a business credit card that I consider to be one of the most well-rounded. The Capital One Venture X rewards credit card is an excellent complement to this.

I have a Capital One card that I like to use for business credit cards. Flexible travel rewards can be redeemed for cash or can be transferred to an airline or hotel partner.

Not only does the card offer flexible rewards, but it offers them at a good rate, as you can earn up to 2 airline miles or hotel points for every dollar you spend. Let's take a look at some of the key details.

Welcome Bonus Of 50K Spark Miles

After spending $4,500 on purchases in the first three months, the business card will give you a bonus of 50,000 miles. This bonus is worth $850 because I value Capital One miles at 1.7 cents each. This is a good bonus for a card with a budget.

Application Restrictions

Those who have received a bonus on the card in the past aren't able to get the welcome bonus on the business card. You are eligible for the card if you have at least one Capital One credit card and a business card.

Capital One doesn't have a lot of consistency in their application rules. Capital One could pull from all the credit bureaus. It is something that is worth being aware of, but I don't think it's a big deal.

$95 Annual Fee, Waived First Year

The first year of the business card is free. It's a good idea to try the card before you have to pay your first annual fee, since you can take advantage of all the perks for a year. Adding additional users to the card is free.

Spark Miles Business Card 2x Miles

I consider the Capital One Sparkmiles for Business to be one of the best returns on everyday spending. When your purchase hits the statement, the miles post almost immediately, instead of after the statement closes. Talk about how quickly you can get something.

Two cents on the dollar is the equivalent of two airline miles or hotel points per dollar spent, which is what you can get with two major options for redemption.

Redeeming Spark Miles Toward Travel Costs

One way to redeem miles is by paying the cost of a travel purchase. You are earning two cents for every dollar you spend on travel with the card.

There are two ways you can redeem your miles for travel purchases.

• You can redeem them for past travel purchases cashing in miles for statement credits, where you can simply make an eligible travel booking using your card, and then you can go online after the fact and use your miles to pay for it within 90 days of the date of purchase; your credit will be applied to your account within two to three days
• You can book a travel reservation through Capital One Travel, and each mile can be redeemed for one cent toward the cost of a travel purchase

Travel purchases made from airlines, hotels, rail lines, rental car agencies, limousine services, bus lines, cruise lines, taxi cabs, travel agents, and timeshares are eligible.

Transfer Spark Miles To Loyalty Partners

This is the best method to redeem your miles. You can convert Spark miles into airline miles in a variety of programs. The Capital One transfer partners are listed here.

Further transfer bonuses are sometimes offered by Capital One, so that you can get a better transfer ratio.

How Should You Redeem Spark Miles?

You can earn up to two airline or hotel points for every dollar you spend on the business card. Depending on your redemption pattern, which redemption option makes more sense.

I would say that.

• If you want to redeem your Spark miles for anything other than flights, your best option is redeeming them at one cent each toward a travel purchase
• If you want to redeem your Spark miles toward airfare, you’ll get more value for international first and business class tickets when transferring miles to an airline partner
• If you want to redeem your Spark miles toward economy airfare (especially if it’s reasonably priced), your best option is redeeming them at one cent each to wipe out the cost of that purchase

The best solution depends on the situation. My top 10 tips for redemption of miles can be found in this article.

Combining Spark Miles & Venture Miles

The Capital One Venture rewards credit card can be used to redeem miles for flights or hotels, or can be used to transfer miles to an airline or hotel partner.

The cards are the same for all practical purposes, even though they are marketed differently.

Combining the miles on both cards will allow you to rack up a lot of miles between your personal and business expenditures. You can share your miles with other people.

Spark Miles Business Card Perks

There are a number of perks that can help offset the annual fee, such as no foreign transaction fees, a Global Entry credit, and primary rental car coverage.

Global Entry/TSA PreCheck Credit

Every four years, the Spark Miles Business Card gives a Global Entry credit. Capital One will reimburse the membership fee if you charge it to your card. If you charge the fee to your eligible card, it won't matter who pays it.

No Foreign Transaction Fees

It's a great card to use for purchases abroad as it has no foreign transaction fees and you can earn rewards all at the same time.

Primary Rental Car Coverage

You can get primary car rental coverage if you rent for business. You will be covered for damage due to collision or theft if you decline the rental company's collision damage waivers.

There are some exclusions in your cardmember agreement.

Other Purchase & Travel Protection

Purchase security and extended protection can be found in the cardmember agreement.

Lounge Access Twice Annually

You get lounge access twice annually if you have the Capital One SparkMiles for Business.

You just want to show your card and it will be swiped. You can either use your passes for two separate visits for you or one visit with a guest. You can access lounges after those two visits, but you will have to pay.

This isn't the level of lounge access perks you'll find with some premium credit cards, but it's pretty awesome for a business card with an annual fee.

Is The Spark Miles Business Card Right For You?

Is Capital One's business credit card the right one for you? The Spark Cash Plus is a card that could be worth looking into.

Quick Comparison: Spark Miles Vs. Spark Cash Plus

The Capital One Spark Cash Plus is also included in the Capital One SparkMiles. There are some important differences between the cards.

• The Spark Miles has a $95 annual fee (waived the first year), whereas the Spark Cash Plus has a $150 annual fee (not waived the first year)
• The Spark Miles is a credit card (meaning you can finance charges and have a credit limit), while the Spark Cash Plus is a charge card (meaning you can’t finance charges and there’s no pre-set spending limit)
• The Spark Cash Plus offers 2% cash back, which you can spend toward anything; in conjunction with the Spark Miles or Venture Card, those rewards can also be converted into miles at a rate of one cent per Spark mile or Venture mile
• The Spark Miles offers the equivalent of 2% back toward travel, or up to two airline miles or hotel points per dollar spent
• The Spark Miles offers a Global Entry or TSA PreCheck credit and lounge access twice annually, which the Spark Cash Plus doesn’t (that’s because the Spark Miles is intended to be more of a travel rewards card)
• The Spark Cash Plus is offering a significantly bigger welcome bonus for big spenders

There are pros and cons to playing cards.

What About The No Annual Fee Spark Miles Select?

Capital One has a no annual fee version of the card called the SparkMiles Select. The card doesn't have foreign transaction fees, but it does earn 1.5xSpark miles per dollar spent, which is less than 2xSpark miles. The mileage earning rates are better than the annual fee would suggest.

Similar Alternatives To The Spark Miles Business Card

There are other ways to get a lucrative business card.

• The Blue Business® Plus Credit Card from American Express (review) has no annual fee (Rates & Fees), and offers 2x Membership Rewards points on the first $50,000 spent per calendar year (1x after that)
• The American Express® Business Gold Card (review) has a $295 annual fee (Rates & Fees) and offers up to 4x Membership Rewards points for the first $150,000 in purchases per calendar year in select categories
• The Ink Business Preferred® Credit Card (review) has a $95 annual fee, has an amazing cell phone protection plan, and offers 3x Ultimate Rewards points on the first $150,000 in combined purchases per anniversary year on travel, shipping purchases, internet, cable, phone services, and advertising purchases made with social media sites and search engines
• If you’re willing to get more than one card, there’s huge value in pairing the Ink Preferred with the Ink Business Cash® Credit Card (review) and/or Ink Business Unlimited® Credit Card (review), as the cards offer 1.5-5x points per dollar spent

If you want to earn travel rewards, the Capital One SparkMiles is a good credit card. The card offers unlimited 2x Spark miles, which can be redeemed for one cent per travel purchase, or can be transferred to an airline or hotel partner at a ratio of1:1.

This is an excellent option if you spend a lot in categories that don't quality for bonus points on other cards, as it's extremely well-rounded.

You can learn more about the business card by following this link.

The rates and fees can be found in the links. The Blue Business® Plus Credit Card from American Express has rates and fees.