|Business Rating:||4.3 / 5|
|Annual Percentage Rate||0.0|
|Issuer Customer Experience||4.0|
In a Nutshell:
The Capital One Spark Miles for Business card offers a solid bonus and valuable travel rewards, plus valuable mile transfer options.
50,000 miles if you spend $4,500 in first 3 months
Average Yearly Rewards Value ($4,000 monthly spend)
Capital One Customer Service Ratings
Other Notable Features: Free employee cards, quarterly and year-end summaries, downloadable purchase records, mobile app to manage purchases, up to $100 credit for Global Entry/TSA PreCheck, no foreign transaction fees, car rental insurance, purchase protection, roadside dispatch, lost luggage reimbursement.
If you are a small business owner looking to earn a flat rate of miles on every purchase you make, the Capital One Spark Miles for Business offers a generous rate that makes it easy to stockpile rewards. Then, you can redeem those miles for any travel purchase with ease.
Decent sign-up bonus
You’ll earn 50,000 miles when you spend $4,500 in the first three months, which is redeemable for $500 if you use it for travel purchases. While fair, this is far from the card’s best sign-up offer. That said, there’s no telling when or if the previous huge bonus will come around again.
You’ll enjoy a flat earning rate of 2 miles per dollar on every purchase you make. With no limits to how much you can earn, racking up miles with the Spark Miles card should be pretty simple.
What are miles worth?
Unlike some business cards – like the Ink Business Preferred Credit Card – the Spark Miles does not offer any sort of boost for redeeming miles a certain way. You won’t be able to improve the value of your miles by redeeming through the Capital One travel portal. Whether you redeem for travel booked with Capital One or on a third-party travel site, each mile is worth 1 cent.
Since other business cards offer some kind of points boost – whether or not they have a higher earning rate – they can occasionally outpace the overall value of the Spark Miles card. Here’s a quick look at some of our most popular business cards and the value you can get out of each dollar you spend (factoring in earning rate and point value):
Despite no ability to stretch point value, the flat earning rate on the Spark Miles card still ranks it relatively high among popular business cards.
The redemption options on the Spark Miles card are very flexible. You can redeem miles for any travel purchase you’ve made in the last 90 days. You just choose the “Redeem a Purchase” option on your online account or mobile app and you’ll be able to view a list of qualifying purchases. Then you can choose to use miles to cover all or part of that purchase.
|Tip: To determine which purchases count as travel, Capital One uses merchant category codes. Sometimes, non-traditional purchases like UberEATS orders will code as travel – allowing you to use miles for a wide variety of transactions. If you aren’t sure how a merchant will code on your statement, you can try making a small purchase and seeing how it displays.|
By choosing this option, you can search for travel deals on third-party sites and still get the full value out of your miles.
Unfortunately, not all redemption options are as lucrative as travel redemptions. If you choose to redeem your miles for a statement credit – for example – you’ll get half their normal value.
Spark Miles redemption options
|Redemption option||Miles value (cents)|
|Travel purchase in Capital One Travel Center||1|
|Outside travel purchase||1|
|Gift card||0.8 – 1|
In addition to the standard redemption options, the Spark Miles card lets cardholders transfer their miles to numerous frequent flyer partners. The transfer rate isn’t as good as other issuers, at 1.5 partner miles for every 2 Capital One miles transferred (Amex, Citi and Chase allow you to transfer points at a 1:1 ratio). (Note, Emirates and Singapore Airlines transfers are a 2:1 rate.) However, since many of the travel partners offer a mile value higher than 1 cent per mile, you can occasionally get more out of your rewards by transferring.
|Partner||Airline Alliance||Miles valuation (cents)||Value of 2 miles transferred (cents)|
|Aeroplan (Air Canada)||Star||1.5||2.25|
|Flying Blue (AirFrance, KLM)||SkyTeam||1.2||1.8|
While there are no major airlines on the list, frequent flyers of Aeroplan (Air Canada), Avianca, Etihad and Singapore Airlines can often stretch their miles a bit further by transferring.
On the plus side, Capital One boosted its JetBlue transfer rate and added two new hotel transfer partners (Accor Live Limitless and Wyndham rewards).
The Spark Miles card comes with several extra perks for small business owners – adding to its overall value. Here are a few of the most useful offerings:
- Year-end account summaries – Download a custom, itemized spend report each quarter and year.
- Quickbooks downloads – To help you better manage your spending, the Spark Miles card allows you to download purchase records directly to software like Quickbooks, Quicken or Excel.
- Car rental insurance – For rental cars booked and paid with the Spark Miles card, you can receive primary coverage up to the cash value of the vehicle (for business car rentals).
- Global Entry/TSA PreCheck credit – Receive a credit up to $100 for an application for Global Entry/TSA PreCheck every four years .
All of these perks are designed to help you save money, whether through better spending visualization or coverage in the case of an accident. To get the most out of these perks, put all your business spending on the card.
Managing employee cards
Though the Spark Miles card does include some valuable benefits for small businesses, it lacks a few key features. For example, you can add employees to your account for no additional fee, but you cannot manage those accounts remotely or set limits on individual spending. Also, while the card offers an app to help tag receipts and manage purchases, the app is designed for personal card users and doesn’t let business card owners track employee spending.
The Spark Miles card is a business credit card, so qualifying might be a bit more difficult than a personal card. It is designed for users with excellent credit (above 750). Plus, you’ll 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.
|Tip: Don’t forget to consider the effect of a small business credit card on your personal credit score. Depending on the type of business you have, some of your business activity might display on your personal credit report.|
Among major issuers, Capital One’s customer service rates quite well. In J.D. Power’s 2020 customer satisfaction survey, the bank rated 808, coming in fifth out of 11 credit card issuers. On the plus side, it’s app rates well among users – rating 4.8 out of 5 in the Google Play Store and 4.7 out of 5 in the Apple App Store. The bank also offers 24/7 customer service and an online chat feature – though you might have to do a little digging to find it.
How does the Spark Miles compare to other cards?
Though the Spark Miles card offers a great flat rate for earning miles, some business owners might be better off with another rewards earning scheme. Here are a few popular alternatives:
Capital One Spark Cash for Business
Ink Business Preferred® Credit Card
The Blue Business® Plus Credit Card from American Express
2% cash back on all purchases
|Rewards rate||Rewards rate|
2 points per dollar on every purchases (up to $50,000 in purchases per year, then 1 point per dollar)
$500 if you spend $4,500 in first 3 months
100,000 points if you spend $15,000 in first 3 months
$95, $0 first year
|Other things to know||Other things to know||Other things to know|
Similar to the Spark Miles card, the Spark Cash offers a flat 2 percent rate on every purchase. What sets it apart is that it offers cash back rather than travel miles. For many spenders, this might be the better Capital One small business choice. Since cash back is much more flexible than miles, you can always cash out your rewards and use them for travel purchases.
Rather than a flat rate of rewards, the Ink Business Preferred card offers 3 points per dollar in several bonus categories: travel, shipping, internet, cable, phone services and advertising purchases (up to $150,000 in combine purchases yearly). If you spend heavily in any of those categories, you can significantly boost the rewards rate on this card. Plus, you’ll get a higher point value on any points you redeem for travel through the Ultimate Rewards portal.
The Blue Business Plus American Express card comes with a similar flat rate of rewards as the Spark Miles, but it includes a $50,000 yearly spend cap on that rate. On the plus side, American Express has a much more extensive list of travel partners with a better transfer rate (1:1 for most partners). Cardholders can transfer points to major airlines like Delta and British Airways.
How do businesses use the Capital One Spark Miles card?
Given its 2:1 rewards rate and sign-up bonus, the Capital One Spark Miles for Business card could be a good option for businesses looking to rack up miles for travel. Here’s how one small business owner made the most of the card:
Small Business Credit Profiles
How TaKorean uses the Capital One Spark Miles for Business card
|“When you spend almost a million dollars each year, the miles add up quite a bit.“|
Michael Lenard of TaKorean, a Korean fusion food truck used the Capital One Spark Miles for Business card to expand his company’s purchasing power and get in on the rewards action. Here’s his advice to other business owners considering the card:
|Read more of our Small Business Credit Profiles|
Who should apply for the Capital One Spark Miles card?
- Small business owners looking for a good flat rate of rewards.
- Frequent travelers who prefer hunting for deals on third-party sites to using a bank’s travel portal.
- Cardholders looking to add employee cards at no extra fee.
- Cardholders who will take advantage of budget and spend tracking tools.
How to use the Capital One Spark Miles card:
- Use the card for most of your purchases to take advantage of a good flat earning rate and budget tracking tools.
- Spend $4,500 in the first three months to get the full 50,000 mile bonus.
- Add employee cards for no extra cost, but remember you can’t set individual spending limits.
- Redeem miles for travel purchases or transfer to a travel partner to get the most value out of them.
- Avoid carrying a balance on this card to avoid racking up interest.
Is the Capital One Spark Miles card worth it?
If you are the kind of cardholder who prefers to keep all your purchases to one card, the Spark Miles offers one of the best flat rates available among business cards. However, users who want to redeem their miles for anything other than travel might be better off opting for the Capital One Spark Cash for Business. You’ll enjoy the same business perks and rewards rate with much more flexible redemption options..
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