Capital One Spark Miles for Business credit card review: Double miles on everything
Capital One Spark Miles for Business overview
The Capital One Spark Miles for Business is a solid business credit card, offering double miles on everything as well as two lounge passes a year. Miles can be transferred to any of Capital One's 18 airline and hotel partners, and you'll pay a low annual fee of $95 (waived for the first year.)(see rates and fees) Card Rating*:⭐⭐⭐⭐
*Card Rating is based on the opinion of TPG's editors and is not influenced by the card issuer.
My mom has owned and operated a small business doing accounting work and tax preparation since I was a child. Until recently, however, her small business — now grown to five employees — didn't earn any points or miles on their business credit card.
They wanted one card for all their spending and opted for the Capital One Spark Cash Plus (see rates and fees) — which earns cash back instead of miles — because they prefer the ease of earning cash.
But if your small business involves travel — or you want to provide travel perks to yourself or your employees by using the miles earned on business spending — the Spark Cash has a sister card, the Capital One Spark Miles for Business, that should provide even more value.
Here, we'll cover what you need to know about the Capital One Spark Miles for Business and how it can help your business, earning a flat rate of 2 miles per dollar spent on all purchases.
Spark Miles For Business welcome offer
The Spark Miles for Business Card is currently offering a sign-up bonus of 50,000 bonus miles after spending $4,500 on purchases in the first three months of account opening.
You can easily redeem your miles for a fixed value of 1 cent each, in which case the 50,000-mile bonus would be worth $500 towards travel. But TPG's valuations peg the value of Capital One miles at 1.85 cents, which makes 50,000 miles worth about $925. You might be able to get even more value depending on which transfer partners you use (bonus value based on TPG valuation and not provided by the issuer).
Related: Step-by-step: How to complete a Capital One business credit card application
Earning miles on the Spark Miles For Business
The beauty of the Spark Miles is its straightforward earning structure. You'll earn 2 miles for every dollar spent with no annual cap, plus 5 miles per dollar on hotels and rental cars booked through Capital One Travel.
Factoring in our valuation of 1.85 cents per mile, this means you'll get a 3.7% return on everyday purchases, a great return.
Although it keeps things simple, having only one bonus category means that there may be more rewarding options for some purchases. If a large chunk of your credit card spending is focused on a category such as gas or office supplies, other cards offer a significantly higher return. Consider having a few business cards and using them for different types of expenses.
Related: These are the Capital One credit cards that earn transferable miles
Redeeming miles on the Spark Miles For Business
Capital One has 18 airline and hotel transfer partners to choose from. Since this card earns 2 miles per dollar spent, that basically equates to 1-2 miles or points with an airline or hotel transfer partner for every dollar spent with the card.
You could leverage Capital One's transfer partners for redemptions, such as Lufthansa first-class award seats between the U.S. and Europe for 116,000 Capital One miles when booking through Avianca LifeMiles. Among other transfer partners, the Turkish Airlines Miles&Smiles program offers a surprising number of sweet spots that enhances the value of your Capital One miles.
If you're not sure how to transfer your Capital One miles and redeem for award flights or hotel nights, check out the following guides:
- How to transfer Capital One Miles to airline partners
- Best ways to redeem Capital One Miles for domestic flights
- Best ways to redeem Capital One Miles on Star Alliance, Oneworld and SkyTeam airlines
- To transfer or not to transfer: What to do with Capital One Miles
Although transferring your miles will get you the most bang for your buck, if it's simplicity you're after, you could redeem your miles at a fixed value of 1 cent apiece toward travel purchases. You can use your miles when booking new travel through Capital One, or you can use your miles to erase any eligible travel purchase you've made with the card in the last 90 days.
Eligible travel purchases aren't just limited to flight and hotel bookings but also include things such as Uber rides and Airbnb stays. And there's no minimum redemption amount as long as you're erasing an entire purchase.
Related: Redeeming Capital One miles for maximum value
Spark Miles For Business benefits
The Spark Miles doesn't offer as many perks and benefits as some pricier business cards, but it offers a surprising amount for a card with a $95 annual fee (waived the first year)(see rates and fees).
One useful perk is a statement credit for a Global Entry or TSA PreCheck application fee (up to $100). Both programs can make travel easier, and you only need to pay the application fee with your Spark Miles card. You can even use it for an employee if you want.
You'll get two entries to Capital One Lounges each year you have the card.
When you purchase eligible items with your card, you'll get purchase protection for a covered loss that occurs within the first 90 days of purchase as well as extended warranty protection that can extend the original manufacturer's warranty on eligible items.
The Spark Miles card also offers the following benefits that may be particularly useful for small businesses:
- No foreign transaction fees — Make purchases overseas without accumulating extra charges just because you're out of the country.
- Free employee cards — Add employees as authorized users and set spending limits for their cards.
- Easy accounting — Download your purchase records quickly and securely to multiple formats, including Quicken, Quickbooks and Excel.
- Travel and emergency assistance services — A wide range of emergency services, including legal or medical referral and ticket replacement.
- Account and business management tools — Pick your own monthly due date, set up AutoPay and download year-end itemized spending reports.
- Assign an employee as account manager — This employee can then make purchases and payments, review transactions and resolve any problems.
Related: 5 lesser-known perks of the Capital One Spark Miles for Business
Which cards compete with the Spark Miles For Business?
Since Capital One miles can be transferred to airline and hotel partners, the Spark Miles is comparable to other cards that earn transferable currencies.
- If you prefer Amex: The Blue Business® Plus Credit Card From American Express doesn't have an annual fee (see rates and fees) and earns 2 points per dollar on purchases. However, the 2 points per dollar spent earning is only on the first $50,000 spent per calendar year (you'll earn one point per dollar spent thereafter), and the card charges a 2.7% fee on foreign transactions (see rates and fees). For more information, read our full review of the Blue Business Plus.
- If you prefer Chase: The closest competitor would be the Ink Business Unlimited Credit Card. The card earns 1.5% cash back on purchases, but you can convert these earnings to Ultimate Rewards points if you also have a premium Chase card. For more information, read our full review of the Ink Business Unlimited.
- If you don't want an annual fee: Consider the Capital One Spark Miles Select for Business. This light version of the card earns 1.5 miles per dollar on all spend, comes with a smaller sign-up bonus and carries similar benefits, including no foreign transaction fees, but doesn't charge an annual fee. For more information, read our full review of the Spark Miles Select.
The information for the Capital One Spark Miles Select for Business has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.
For additional options, check out our full list of the best travel cards.
Related: Your guide to the Chase Ink Business credit cards
Is the Spark Miles For Business worth it?
If you're looking for simplicity, the Spark Miles card may be a good card for all your business spending since it earns two miles per dollar spent on all purchases. But even if you already have one or more cards that earn bonus miles in certain categories, the Spark Miles card may be able to boost your earnings on purchases that don't fall into your current bonus categories. You'll also get two free entries to a Capital One lounge each year.
Bottom line
The Spark Miles offers a surprising amount for a card with such a low annual fee. If you're a business owner looking for a bang for your buck and want to enjoy simple earnings rates on an easy-to-understand card, the Spark Miles could be the one for you.
Official application link: Capital One Spark Miles for Business
For Capital One products listed on this page, some of the above benefits are provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply.
Additional reporting by Ryan Wilcox and Stella Shon.
For rates and fees of the Blue Business Plus Card, please click here.