Charles H. Miller
The Capital One® Spark® Miles and Spark® Miles Select Business Credit Cards are made for small businesses who travel often, but not too often. These are solid products for companies spending below or around $15,000 per year with their card. By using one of these cards, they will be able to cut down on their travel expenses. Both the Spark® Miles and Spark® Miles Select come with valuable sign-up bonuses, while allowing cardmembers to earn miles on every dollar they spend. Here are the details…
Highlights
(Spark Miles / Spark Miles Select)
- 50,000 / 20,000 sign-up bonus miles
- Earn 2 / 1.5 miles per dollar spent on all purchases
- 9-month 0% intro APR on purchases with Spark Miles Select
- Free employee cards
- 17.24% / 13.24%-21.24% Variable APR
- $59 (waived in the first year) / no annual fee
How These Cards Work?
Earn miles: The Capital One Spark Miles for Business offers 2 miles per dollar spent on all purchases. The Select “variant”, on the other hand, offers 1.5 miles per dollar spent. There is no limit to the number of miles you can earn, and miles do not expire.
Redeem miles: You can redeem for an array of travel services, including airfare, hotels, car rentals, bus lines, taxi fare, and even timeshares. There are also options to redeem for a check or account credit, but you won’t get the same value that way. Generally speaking, when redeeming for travel services, each mile is worth one cent.
Sign-up bonus: The Capital One Spark Miles for Business comes with 50,000 miles sign-up bonus (worth $500 in travel service), after spending $4,500 on purchases within the first 3 months of account opening. On the other hand, with the Spark Miles Select for Business, users get 20,000 miles (worth $200 in travel), after spending $3,000 on purchases within the first 3 months of account opening.
Free employee cards: Both cards enable businesses to get additional employee cards free of charge, so that the entire company could collect miles. Using a dedicated interface managers (owners) can set individual spending limits.
Quarterly and year-end statements: Along with the ability to access itemized reports for planning, budgeting, and taxes, making it easier to manage corporate expenses.
Shopping and travel benefits: Such as auto rental collision damage waiver, protection against lost or stolen purchases, and extended warranty that extends the manufacturer’s warranty for purchases up to an additional year. Also, Visa Business Benefits include travel and emergency assistance services.
Costs
- 17.24% variable APR / 13.24% – 21.24% variable APR (0% intro APR on purchases for 9 months)
- 0% Balance Transfer Fee
- 0% Foreign Transaction Fee
- $59 Annual Fee (waived in the first year) / $0 Annual Fee
Pros
- Generous bonus – the free card (with $0 annual fee) includes a bonus that is worth $200. The paid card goes a step further and comes with a bonus worth $500.
- 1.5 or 2 miles per dollar spent on all purchases. No product/service categories to deal with.
- Introductory APR on purchases with the Spark Miles Select – could be useful if you plan to make a big purchase.
- No balance transfer fee – if you are using a card with a higher APR, you can move the balance from that card to any of the Spark Miles cards without paying the usual 3% fee.
- No foreign transaction fee – this is a travel-focused credit card and it’s obviously made to be used while visiting other countries.
Cons
- Relatively high APR – but if you are used to paying your balance in full and on time, there’s nothing to worry about.
- No introductory APR with the Spark Miles card. And it would be nice to have it, just so you could fund some, say, first-class ticket to the other part of the world.
- Rewards rate could be higher with the Spark Miles Select. Effectively you are getting 1.5% back and that’s an amount you could get with many cash back cards.
Head to Head Comparison
Which Capital One® Spark® Miles Works For You?
Capital One’s Spark Miles cards are made for small businesses whose employees (or owners) fly from time to time. These are not the best travel-focused cards, but they do offer a solid bang for the buck. If you’re not in the plane every other week, you should consider one of Spark Miles cards. The paid Spark® Miles card, obviously, offers higher rewards, but even the free Select variant is an option worth considering. Depending on how often you travel, you will determine whether the annual fee is worth paying for…
