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The right business credit card can provide a lot of value. These cards can offer perks that can be leveraged to gain huge value, especially when it comes to travel. The annual fee will often be justified by the benefits.
This post will take a closer look at one of my favorite business credit cards.
August 2021 Capital One Spark Miles Basics Business Card
Capital One Spark Miles for business is one of my favourite business credit cards. It's a card that I love and have personally. Flexible travel rewards can be used to redeem cash for travel purchases or transferred to an airline partner or hotel partner.
The card offers flexible rewards at a great rate. You can earn two cents per dollar towards travel, up to two airline miles, and hotel points.
You can redeem Spark miles to enjoy some amazing travel experiences
50K Spark Miles as a Welcome Bonus
Spark Miles Business Card offers a welcome bonus worth 50,000 Sparkmiles after you spend $4,500 within the first three month. This is a great bonus for a card that has a low spending requirement. However, I would note that we have seen larger welcome bonuses in the past, particularly when combined with higher spending.
Application Restrictions
These are the terms and conditions of the Spark Miles Business Card Application:
Click the Apply Now button to receive this one-time bonus. It may not be available if your browser closes or navigates away from this page. One or both of the spend bonuses may be available to you. For Spark cardholders who are not currently or previously enrolled, the bonuses may not be offered.
It seems you can have both Spark Miles or Spark Cash Plus. However, the terms don't specify that.
There are also some general Capital One restrictions that you should be aware of.
Capital One pulls credit from three credit bureaus. Personally, I don't find it to be an issue but it is worth knowing.
Two cards cannot be applied for at once. The second card, even if it is different, will automatically be marked duplicate.
No matter if you have personal or business cards, your Capital One card approvals are limited to one per six months.
Although I cannot personally confirm this, it seems that Capital One business cards are more easily approved for than Capital One personal.
Chases 5/24 rule is a concern, but Capital One business applications count towards this limitation.
Annual Fee
Spark Miles Business Card comes with a $95 annual charge. However, it is waived for the first one year. You can use all the benefits for 12 months, which is a great way of trying the card before buying it.
You can add users to your card at no additional cost.
Spark Miles Business Card 2x Miles
Capital One Spark Miles for Business provides unlimited 2x Spark miles for every dollar spent. Another cool feature is that your miles will post almost immediately after your purchase hits the statement. Instant gratification!
You have two options to redeem your Spark miles. This means that you can get the equivalent of two cents per dollar in travel or two hotel points or airline miles for every dollar spent.
Spend Spark Miles on Travel
You can redeem Spark miles at a rate of one cent per kilometer towards the purchase of travel. The card provides unlimited Spark miles, so you can earn two cents per dollar towards travel.
There are two main ways to redeem Spark miles for travel purchases.
Purchase Eraser allows you to redeem your miles for previous travel purchases. Simply make a travel booking with your card and then go online to use your miles to pay the bill. Your credit will be applied to you account within two to three business days.
Book a trip reservation online or by phone. Each mile can be used to redeem for one cent towards the purchase of travel.
Travel purchases that are eligible include purchases made at hotels, airlines, railway lines, car rental agencies and limousine services.
Spend Spark miles on any type of travel purchase
Loyalty Partners Get Transfer Spark Miles
This is my favorite way to redeem Spark miles. You can convert Spark miles to airline miles in many programs at a ratio up to 1:1. (although the ratio may vary between partners, with some being 2:1 and others being 2:1.5)
These are the transfer partners
Airline Partners Hotel Partners Aeromexico Club Premium ALL Rewards points Air Canada Aeroplan Wyndham Reward Alianca Lifemiles British Airways Executive Club Cathay Pacific Asia Miles Emirates Skywards Etihad Guest EVA Air Infinity Mileagelands Finnair Plus FlyingBlue TrueBlue Qantas Frequent Flyer Singapore Airlines KrisFlyer Tak Miles&Go Turkish Airlines Miles &Smiles Capital One Transfer Partners
Capital One sometimes offers additional transfer bonuses so you may sometimes get a better transfer ratio.
Use your KLM Business Class Spark miles to redeem for travel
How do you redeem Spark Miles?
Spending $2 on the Spark Business Card will earn you 2 miles. These 2 miles can be used to either get two cents worth travel or two points for your hotel or airline. Depending on your redemption habits, which redemption option is more appealing will determine what you choose.
I would say, in general, that:
You can redeem Spark miles at one cent per each for travel purchases if you don't want to fly.
You can redeem Spark miles for airfare if you transfer miles to partner airlines.
Spark miles can be used to pay for economy airfare, especially if it is reasonably priced. You can redeem them at one cent per unit to eliminate the purchase cost.
These are only guidelines. The best solution depends on your specific circumstances.
You are often better off redeeming your miles for one cent each when you need to redeem economy miles
Combining Spark Miles & Venture Miles
The Capital One Venture Rewards Credit card (review), and the Capital One Spark Miles Credit Card (review), earn miles that can either be used to purchase travel or transferred to an airline partner.
These cards are advertised differently as Venture miles or Spark miles, but they're almost identical for practical purposes.
It's great that you can combine your miles from both cards so you can accumulate a lot of miles between personal and business spending. These points can be shared with others via Spark or Venture miles, which makes them very flexible.
Spark Miles Business Card Perks
Capital One Spark Miles for Business provides valuable perks to help offset the annual fees. These include no foreign transaction fees, a Global Entry credit or TSA Precheck credit, as well as primary car rental coverage. Capital One will soon open lounges at airports and may offer cardmembers some perks.
Global Entry/TSA Precheck Credit
Spark Miles Business Card provides a Global Entry credit or TSA Precheck credit every four years. The $85-100 membership fee can be charged to your Capital One Sparkmiles Card and the amount will be automatically refunded. It doesn't matter for whom the fee was paid, so long as it is charged to your card that is eligible.
No Foreign Transaction Fees
Spark Miles does not charge foreign transaction fees. This card is great for international purchases. You can also earn rewards and avoid paying any additional fees. Although this is a very common benefit across many cards these days, it's still extremely valuable.
Insurance for primary car rental
Spark Miles provides primary coverage for car rentals if you rent them out for business purposes. You will be covered for theft or collision damage if you charge the entire rental amount to your credit card.
For more information, make sure to check your cardmember agreement. There may be exclusions.
A car rental policy is an attractive perk
Additional Purchase & Travel Insurance
Spark Miles provides all types of protection including purchase security and extended coverage (coverage for items lost or stolen within the first 90 days), emergency assistance, travel, and many more. You can find the complete details in the cardmember agreement.
Are you a Spark Miles business card holder?
There are many great business credit cards available, so is Capital One Spark Miles Business the right one for you? Let's take a look at some other options, such as the Spark Cash Plus. This card is similar and could be worth looking into.
Quick Comparison: Spark Miles Vs. Spark Cash Plus
The Capital One Spark Miles is not the only card available. (Review). Despite their similar names, there are key differences between these cards.
Spark Miles charges a $95 per year (which is waived for the first year), while Spark Cash Plus charges a $150 fee. This fee is not waived for the first year.
Spark Miles is a credit-card that allows you to finance charges and has a credit limit. Spark Cash Plus, on the other hand, is a charge card. You can't finance charges and you have no spending limit.
Spark Cash Plus gives you 2% cash back that can be used towards any purpose. In conjunction with Spark Miles and Venture Card, these rewards can also convert into miles at a rate one cent per Venture mile or Spark mile.
Spark Miles gives you the equivalent to 2% back on travel or up to two hotel points or airline miles per dollar.
Spark Miles provides a Global Entry credit or TSA Precheck credit. The Spark Cash Plus does not. This is because Spark Miles was designed to be a travel rewards card.
Each card has its pros and cons. Spark Miles is the best card if you are looking to earn travel rewards while paying the lowest annual fees. Spark Cash Plus offers flexible cash-back options and allows you to make your own decisions.
Both business cards can earn travel rewards
How about the No Annual Fee Spark Miles Selection?
You should also be aware that this card has a no-annual fee Spark Miles Select from Capital One. This card:
There are no foreign transaction fees
Spend 1.5x on Spark miles instead of 2x.
For a complete comparison of the cards, see this post.
Similar alternatives to the Spark Miles Business card
There are several other options if you are looking for a lucrative business cards.
Capital One Spark Miles Business Summary
If you are looking for travel rewards, the Capital One Spark Miles business credit card is a good choice. You can redeem unlimited Spark miles for one cent towards travel purchases or transfer them to an airline partner or hotel partner at a ratio up to 1:1.
This is a great option if you own a business that spends a lot in certain categories, but not enough to qualify for bonus points on other cards.
Follow this link to find out more information about Spark Miles Business Card and how you can apply.
Apply Now
These links will take you to the fees and rates for American Express Cards. These are: American Express Business Gold Card (Rates and Fees), and The Blue Business Plus credit card from American Express (Rates and Fees).
