Earn up to 200,000 bonus miles with Capital One Spark Miles for Business cards

Capital One Spark Miles Bonus

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Capital One recently dropped some big news: Starting in December, Capital One® Venture® Rewards Credit Card holders can transfer rewards miles to at least 12 new travel partners.

But it’s not just Venture Card holders who should be jumping for joy. The update also affects Capital One business cards, including the Capital One Spark® Miles for Business and Capital One Spark® Miles Select for Business. It’s now easier than ever for small business owners to maximize the value of their travel rewards.

If that weren’t enough, Capital One also announced a limited time sign-up bonus for the Spark Miles card – up to 200,000 bonus miles. This is one of the most valuable sign-up bonuses you’ll find in a business card, especially with the new increased reward flexibility.

While the Spark Miles Select did not get a new introductory bonus, the new travel partners still increase the card’s point value. Business owners who don’t want to pay an annual fee can still take advantage of a flexible rewards program.

Which Capital One Spark Miles card is better in the first year?

In order to get the full 200,000 miles out of your Spark Miles sign-up bonus, you’ll have to spend $50,000 on eligible purchases in the first six months. This is a pretty high spend threshold, especially for a smaller business. But if you can make the majority of your large purchases right after opening your account, you can get unprecedented value out of your first year of rewards.

For businesses with a lower monthly spend who can’t hit the full sign-up bonus and want to save on the annual fee, the Spark Miles Select still offers 20,000 bonus miles after spending $3,000 in the first three months. But as you’ll see in the following table, the higher rewards rate can easily offset the Spark Miles card’s $95 annual fee.

 

Spark Miles card
Spark Miles for Business
Spark Miles Select card
Spark Miles Select for Business

Rewards rate

2 miles per dollar on all purchases
1.5 miles per dollar on all purchases

Sign-up bonus

  • 50,000 miles if you spend $5,000 in first 3 months
  • 150,000 additional miles if you spend $50,000 in first 6 months
  • 20,000 miles if you spend $3,000 in first 3 months

Annual fee

$95, waived first year
$0

Estimated earnings in first year ($8,400 monthly spend)

$4,016
$1,712

Even if you can’t swing $50,000 in purchases in the first six months, the Spark Miles card has a rewards rate that is 25 percent higher than the Spark Miles Select. With the additional rewards, it is easy to offset the cost of the annual fee and still take home more each year. In fact, you only need a monthly spend of around $2,000 for the Spark Miles card to beat the Spark Miles Select in yearly rewards.

Recent changes to the Spark Miles cards

The 200,000 mile sign-up bonus is a limited time offer, and it is not one that has been seen before. Up until now, the intro bonus for both the Spark Miles and Spark Miles Select has remained the same.

Spark Miles for Business Card Recent Changes

Nov. 13, 2018

  • 50,000 bonus miles if you spend $5,000 in first 3 months
  • 150,000 additional bonus miles if you spend $50,000 in first 6 months

Previous:

50,000 bonus miles if you spend $4,500 in first 3 months

 

Spark Miles Select for Business Card Recent Changes

There have been no recent changes to the Spark Miles Select sign-up bonus.

The new Capital One travel partner announcement allows both Spark Miles and Spark Miles Select cardholders to transfer their miles to one of 12 partner airlines. This increases reward value and flexibility for both cards.

Who is eligible for the sign-up bonus?

The Spark Miles sign-up bonus is only available to new cardholders, and existing or previous account holders might not be eligible. Capital One also has a limit to the number of accounts you can have open with them. If you already have five open credit cards with the bank, you won’t be able to apply.

Both the Spark Miles and Spark Miles Select cards are designed for users with excellent credit (above 750). Since they are business cards, you’ll also have to submit information about your business including your TIN or EIN (or SSN if you are a sole-proprietorship or single-member LLC), business ownership type, annual revenue and spend per month. There are no specified qualifications for business size or spend, but it is important that you have a good individual credit history and all your personal accounts are in good standing.

Best ways to use the Spark Miles cards’ sign-up bonus

The points redemption options on the Spark Miles cards are very flexible, but you’ll get the most value out of your miles on travel purchases. With the Purchase Eraser, you can even make travel reservations outside the Capital One Rewards Center without sacrificing point value.

Redemption options for Spark Miles cards

If you’d prefer another redemption option, you can also use your miles toward a statement credit, check or gift card. Check out the table below to see the value of your sign-up bonus with each of these options.

Redemption option

Miles value (cents)

Value of 200,000-mile bonus

Value of 20,000-mile bonus

Travel purchases in Capital One Rewards Center

1

$2,000

$200

Outside travel purchases using Purchase Eraser

1

$2,000

$200

Gift Card

1

$2,000

$200

Statement credit

0.5

$1,000

$100

Check

0.5

$1,000

$100

New transfer options for Spark Miles cards

If you are eager to stretch your miles even further, you can also take advantage of Capital One’s new travel partners. For each partner airline, two of your Spark Miles equal 1.5 airline miles. This might seem like you are losing value, but that is not always the case.

Each Capital One mile is worth 1 cent, but mile value for each airline rewards program varies. Here’s what we value each point at for the partner airlines and what you’ll get out of your sign-up bonus if you transfer all your miles.

 

Miles valuation (cents)

Value of 2 miles transferred (cents)

Value of 200,000-mile bonus

Value of 20,000-mile bonus

Qantas

1.0

1.5

$1,500

$150

Finnair

1.0

1.5

$1,500

$150

Flying Blue (AirFrance, KLM)

1.2

1.8

$1,800

$180

Aeromexico

1.0

1.5

$1,500

$150

Aeroplan (Air Canada)

1.5

2.25

$2,250

$225

Alitalia

1.0

1.5

$1,500

$150

Cathay Pacific

1.0

1.5

$1,500

$150

Etihad

1.4

2.1

$2,100

$210

EVA Air

1.0

1.5

$1,500

$150

Qatar

0.8

1.2

$1,200

$120

Hainan

1.0

1.5

$1,500

$150

Avianca

1.7

2.55

$2,550

$255

  

Normally, the Spark Miles sign-up bonus has a $2,000 value and Spark Miles Select has a $200 value. But as you can see, transferring sometimes can increase value. If you are a frequent flier of Aeroplan (Air Canada), Etihad or Avianca, you can maximize your reward potential.

For the most part though, it is in your best interest to redeem your miles through the Capital One Rewards Center or another travel site using Purchase Eraser. Since there are no major airlines on Capital One’s new list of partners, you’ll probably stick to these options for most of your travel.

Should you apply for a Spark Miles card now?

If you’re prepared to spend $50,000 in the first six months, you couldn’t ask for a better time to apply for a Spark Miles card. The 200,000 mile bonus is a limited time offer you’ll want to take advantage of to earn extraordinary rewards in first year. Plus, frequent fliers of Aeroplan (Air Canada), Eithad and Avianca can take advantage of the new partnership to get more value out of their Spark miles.

See related: Capital One to launch travel transfer partners for Venture cardholders in December, Earn 10x miles on hotel stays with Venture and VentureOne, How to transfer points to airlines


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Updated: 12-15-2018