|Highlights||Credit Card Feature|
|Things We Like||Signing bonus of 50,000 miles|
|Our Least Favorite||$59 annual fee (after the first year)|
|Our Verdict||Great card for earning 2 miles for every $1 spent on purchases|
Capital One® Spark® Miles for Business, issued by Capital One, is a good choice of card if you are a business owner who travels frequently for business, and would like to earn travel rewards on your business spending. This card helps you earn miles faster on your business spending by giving you 2 miles for every dollar spent on everyday purchases. The great thing about these miles is that they won't expire, don't have any maximum limit, and can be redeemed for travel, merchandise, gift cards or even cash!
Things We Like About Capital One® Spark® Miles for Business
$0 intro annual fee for the first year, $59 after that. During the first year of being a card member, you will enjoy all the benefits this card has to offer for $0. After the first 12 months, you'll have to pay an annual fee of $59.
Earn a one-time bonus of 50,000 miles. This is a very attractive offer for new card members. To earn these 50,000 bonus miles, you have to spend $4,500 on purchases within 3 months of approval.
Earn 2 miles for every $1 spent on purchases, every day. For all purchases that are made with this card, you will receive 2 miles for every $1 you spend, which is a very good deal since most credit cards only offer 1 mile per $1, but here you get double miles.
Miles can be redeemed for cash, merchandise, gift cards or travel. Another advantage you have with this card is that you can use your miles for more than just traveling; you can also redeem them for cash, gift cards and merchandise.
Two ways to redeem your miles for travel: (1) Contact their Rewards Center toll-free to book your travel, or (2) Buy your travel (flights, travel packages, etc.) anywhere you choose, from any website or any travel agency, with your Spark Miles card. You'll then have 90 days from the date your travel purchase posts to your account to call their Rewards Center or redeem your miles online to be reimbursed for the cost of the travel purchase.
No limit on the amount of miles you earn and miles won't expire. You will not feel pressured to spend your miles by a certain date or to only be allowed to accumulate a certain amount since they don't expire and you can feel free to accumulate them for as long as you want.
No blackout dates or seat restrictions when booking air tickets on most major airlines. You will be able to get a seat (if any is available) in any class you desire and to any destination.
No foreign transaction fees. This can be very useful if you travel a lot since you don't pay any foreign transaction fee when using the card abroad.
Free itemized report on your business spending. At the end of every year, so as to help you better organize your finances, spot any tax deductions and plan the next year's budget, you will receive a free itemized report of all your spending that current year.
$0 Fraud Liability Protection. To make you feel more secure and protected, this card also includes a $0 Fraud Liability Protection, so if your card is ever lost or stolen, you will not be held responsible for any unauthorized charges from your card.
Purchase Security and Extended Protection. Purchase Security automatically protects most purchases you make with your business credit card within 90 days of purchase in the event of damage, loss, theft, or fire, up to a maximum of $10,000 per claim and $50,000 per cardholder. Extended protection doubles the time period of the original manufacturer's written U.S. warranty up to 1 year on warranties of three years or less.
Have your company's logo on your card. With Capital One Image Card, you can easily upload your company's logo or a photo of your business. This customized card design helps you promote your business every time you use your card.
Auto rental collision damage waiver. When you rent a car with this business credit card, you'll be covered with collision, damage, and loss insurance.
Travel and emergency assistance. When you're traveling for business anywhere, you can feel more secure knowing you can rely on a number of Visa emergency services 24/7 such as ticket replacement, medical or legal referrals and more.
Various discounts. This credit card also offers various discounts to help you save money on things like dining and staying at certain business hotels.
Online Banking. You can access and manage your account whenever it's convenient for you. With online banking, you can view account activity, pay bills, view and download up to 13 months of statements, and more.
Award-winning small business customer service. No more recorded messages or being put on hold. If you have any questions, call them toll-free at 1-800-867-0904, and their representatives, who are specially trained to deal with business owners, will help you.
Our Least Favorite Things About Capital One® Spark® Miles for Business
No introductory APR on purchases or balance transfers. Right from the start you get a 17.49% variable APR (which is reasonable) for purchases and balance transfers. Most credit cards, on the other hand, usually come with an introductory APR on purchases or balance transfers for the first few months. To avoid paying any interest, always pay in full and make your payments on time.
After the first year you will have to pay an annual fee. After the first year of having this card, you'll have to pay an annual fee of $59.
Miles are not actual frequent flyer miles. The miles that you earn with this card are really more like a type of rewards points or cash back which you can redeem towards travel. You can also redeem these miles in several other ways (cash back, gift cards, and more). If you prefer a more simple option, you could consider Capital One® Spark® Cash for Business, which lets you earn 2% cash back on every purchase, and redeem cash rewards anytime you choose, for any amount. You can even set up automatic redemption, and cash is probably the least complicated reward you can get. You can then use the cash back you've redeemed to book travel if you choose to, and this card also has no foreign transaction fees.
How Other Cards Compare With Capital One® Spark® Miles for Business
Capital One® Spark® Miles Select for Business is very similar to Capital One® Spark® Miles for Business, except that it has no annual fee and comes with a 0% intro APR on purchases for 9 months, followed by a regular 13.49% - 21.49% variable APR after that. You earn less miles per dollar using this card (unlimited 1.5 miles per $1 on every purchase with Capital One® Spark® Miles Select for Business compared to 2 miles per $1 on every purchase with Capital One® Spark® Miles for Business).
Capital One® Spark® Cash for Business is the cash back alternative to this card. Instead of miles, it lets you earn unlimited 2% cash back on every purchase, every day. $0 intro annual fee for the first year, $59 after that, is much the same, and the fantastic one-time $500 cash bonus you earn once you spend $4,500 on purchases within 3 months of approval pretty much comes to the same value as the miles bonus you get with Capital One® Spark® Miles for Business. In our opinion, cash back is a more flexible option, as you can cash to pay for travel or to cover any other expense. Miles, on the other hand, can easily be redeemed towards travel purchases, but redeeming for cash is more complicated. If you travel a lot on business, then Capital One® Spark® Miles for Business may be a more convenient choice. Otherwise, this Capital One® Spark® Cash for Business is more flexible.
If you like to keep things simple, Capital One® Spark® Miles for Business with its high rate of miles for all purchases and easy redemption towards any travel purchases is one of the best business travel cards you can get.
Capital One® Spark® Miles for Business is quite an attractive business credit card with lots of good deals and benefits to offer you and even your business. This card is especially ideal for someone who travels often, since it offers many travel-related benefits and lets you redeem your miles for any travel purchase.
One of this card's most attractive features is that you get 2 miles for every $1 you spend on all purchases. Plus you get to earn a one-time bonus of 50,000 miles if you spend at least $4,500 on purchases within 3 months of approval. These 50,000 bonus miles let you redeem $500 on any of your travel purchases (you can buy your travel tickets from any website or any travel agency and on any airline), or you can use them to redeem for other rewards such as merchandise or gift cards. Your miles don't expire and there's no cap on how many miles you can earn!
Despite an annual fee of $59, Capital One® Spark® Miles for Business lets you accumulate miles much faster on your spending, compared to the no annual fee Capital One® Spark® Miles Select for Business (you can read our review of Capital One® Spark® Miles Select for Business here).
As with all Capital One business cards, you get benefits such as a year-end summary, employee cards, customized card design, purchase security and extended protection, $0 Fraud Liability, and many more. If you travel often for business, Capital One® Spark® Miles for Business could just be the right card for you as it gives you double miles on all your spending.
Ivan Daniel is a writer at GET.com. Email: firstname.lastname@example.org.Editorial Disclosure: Any personal views and opinions expressed by the author in this article are the author's own and do not necessarily reflect the viewpoint of GET.com. The editorial content on this page is not provided by any of the companies mentioned, and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are author's alone, not those of the companies mentioned, and have not been reviewed, approved or otherwise endorsed by any of these entities.
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At what rate can you use the points to redeem for cash/gift cards? Are the 50,000 miles essentially worth $250 if you redeem it that way?
June 28 2015 at 09:36