Capital One Spark Miles Select for Business: Get Miles Without the Fees
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The Capital One® Spark® Miles Select for Business credit card offers business owners travel rewards with no annual fee. If you are looking for a simple and straightforward travel rewards credit card, the Capital One Spark Miles Select could be the best card for your business. (See also: 5 Best Credit Cards for Small Businesses)
Why We Like This Card
- 20,000 one-time bonus miles after meeting requirements
- Earn 1.5X miles per dollar spent on all purchases
How This Card Works
This card awards 1.5X miles for every dollar spent with the card on all purchases, and 5X miles on hotel and rental car bookings through Capital One TravelSM. There is no limit to the number of miles you can earn, and miles won't expire for the life of the account.
Bonus offer: Earn a one-time bonus of 20,000 miles, which is equal to $200 in travel, after spending $3,000 on purchases within 3 months from account opening.
You can redeem your miles as a statement credit for travel purchases made in the past 90 days through Capital One’s Purchase Eraser feature. Eligible purchases include a wide range of travel charges including airfare, hotels, car rentals, bus lines, taxi fare, and more. You can also redeem miles through the Rewards Center to book flights, car rentals, or hotel stays. In most cases, each mile is worth one cent. Another option is to transfer your miles to 10+ leading travel loyalty programs like JetBlue™, Air Canada, and Emirates™.
Other Benefits
Free employee cards. Receive free employee cards, which provide employees a credit card for making purchases for the business while earning unlimited 1.5X miles from purchases at the same time. You can also manage the cards and set individual spending limits.
Quarterly and year-end statements. As a small business owner, managing finances can be overwhelming and time-consuming. You can, however, access custom, itemized reports for planning, budgeting, and taxes.
Purchase security and extended protection. Covers purchases made with the card if they are lost or stolen within 90 days of the purchase. This protection also extends the manufacturer’s warranty for purchases to double the initial length (up to an additional year).
Pros
Bonus offer. The bonus offer is one of the most valuable bonuses you’ll find with a no-annual fee business travel card. If you plan on making a large purchase of at least $3,000 right away, the bonus alone is a valid reason to consider this card. (See also: 5 Best Credit Cards That Offer Bonus Cash for Sign-Up)
No fees. There is no annual fee, balance transfer fee, or foreign transaction fee on this card, which is extremely rare with business travel rewards cards. Furthermore, you can save a significant amount of money with this card if you need to transfer a balance from a card charging a higher APR, or if the majority of your business purchases are foreign. Each fee with many other cards is typically around 3%. (See also: 5 Best Credit Cards with No Annual Fees)
Introductory APR. Another reason this card is a great credit card if you need to make a large purchase right away is the offer for a 0% intro APR on purchases for 9 months. 0% intro APR offers aren’t commonly found with business credit cards. This is one of the best cards to save money in interest if you need some time to pay down business purchases. (See also: 5 Best Low Interest Rate Credit Cards)
No rotating categories. This card awards a simple, flat-rate of 1.5X miles for each dollar spent with the credit card and is one of a handful of business credit cards awarding every purchase without relying on special categories. Other rewards cards that only award specific spending categories or categories that rotate can become confusing and if you don’t pay attention you could end up earning the rate often reserved for “other” purchases, which is typically only one mile.
Cons
Low rewards rate. One of the advantages of this card is its simplicity and the ability to earn a flat rate of rewards without dealing with confusing categories. However, if you plan to spend a lot in a category other than hotels or car rentals, you might earn more rewards with a card that has bonuses for that category. (See also: 5 Best Credit Cards for Office Supply Purchases)
Who This Card Is Best For
The Capital One Spark Miles Select for Business credit card is best for small business owners whose spending varies. It is also best if you need to make a large purchase with the card and can benefit from the 0% intro purchase APR and earn the one-time bonus. This card is especially ideal for saving money on foreign purchases and balance transfers from cards carrying higher APRs.
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