Capital one spark miles select for business reviews

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Business owners seeking a card with no annual fee and easy-to-manage travel rewards have good reason to be fired up about the Capital One® Spark® Miles Select for Business. Redemptions are simple, and the card comes with an attractive welcome bonus and plenty of money-saving extras.

Capital One Spark Miles Select for Business

Welcome Bonus

20,000 miles

Regular APR

16.99% - 26.99% variable

Credit Score

Excellent, Good

Pros

• No foreign transaction fee
• Earn unlimited miles that never expire
• Miles can be transferred to Capital One’s travel partners
• Business management tools including quarterly reports
• Free employee cards
• 0% intro APR on purchases

Cons

• No intro APR offer for balance transfers
• High penalty APR
• Intro APR period is shorter than many similar offerings

Highlights

• Earn unlimited 1.5X miles per dollar on every purchase, everywhere, no limits or category restrictions, and miles won’t expire for the life of the account
• Earn a one-time bonus of 20,000 miles – equal to $200 in travel – once you spend $3,000 on purchases within the first 3 months from account opening
• Save on interest with 0% intro APR on purchases for 9 months; 16.99% – 26.99% variable APR after that
• No annual fee
• Use your miles on flights, hotels, vacation packages and more—you can use your miles to cover eligible travel purchases to over a dozen travel partners
• Redeem your miles instantly for any travel-related purchases, from flights and hotels to ride-sharing services
• Free employee cards which also earn unlimited 1.5X miles from their purchases

Introduction

Earning and using credit card travel rewards can sometimes seem complicated. Thankfully, the Capital One Spark Miles Select’s program is markedly streamlined. You’ll earn 1.5 miles per dollar on every purchase, whether it’s on inventory, office supplies or entertaining a client, while rental car and hotel bookings through the Capital One Travel Center will net you 5 points per dollar.

What’s more, there are no expiration dates or earnings caps, leaving you free to amass a hefty pile of points for use at your own leisure. Capital One’s redemption system is straightforward, with multiple ways to redeem reward points for travel. Miles can also be redeemed for cash back or gift cards, but that’s generally a lesser value.

In addition to a straightforward rewards system, the Capital One Spark Miles Select comes with valuable extras like a nice welcome bonus and an introductory 0% APR offer on purchases. The card also comes with some helpful protections, including car rental collision coverage and extended warranties on eligible items.

At a Glance

• $0 annual fee
• Flat earnings of 1.5 miles per dollar spent on most purchases
• Introductory APR of 0% on purchases for 9 months, followed by the standard rate of 16.99% - 26.99% variable
• None foreign transaction fees
• Rewards are unlimited and can be redeemed at any time
• Travel and extended warranty protections

Capital One Spark Miles Select Rewards

Earning Rewards

Every purchase made on the Capital One Spark Miles Select will net 1.5 miles per dollar spent, unless it’s a hotel or rental car booked through the Capital One portal, in which case it will accrue 5 miles per dollar. However, hotels booked through the Capital One portal will likely not earn status benefits, making this bonus of limited value for travelers who care about hotel status perks.

Redeeming Rewards

As mentioned earlier, there are a few ways to redeem rewards for travel:

• Make a purchase on your own and use miles as a statement credit towards the purchase
• Redeem miles on the spot by booking travel through the Capital One Travel Center
• Transfer miles to Capital One’s travel partners

Independent booking can be done through whatever means you prefer; hotel websites, discount travel sites, travel agents and airlines are all fair game. Then, after making the purchase, redeem your miles for a statement credit in the amount of the purchase. The only stipulation is that redemptions for travel must be made within 90 days of the original purchase.

Alternatively, you can book your excursion through the Capital One Travel Center. Whichever option you choose, miles are worth a penny apiece.

Redeeming miles for cash back, gift cards or using them to shop with Amazon is possible, though it will likely yield lesser value.

Rewards Potential

How much can you earn in a year? A business that spends $2,000 per month on its Capital One Spark Miles card will earn 3,000 miles per month (or 36,000 per year); this is worth $360 when used for travel. Also, as previously mentioned, the card comes with a welcome bonus: 20,000 miles equal to $200 in travel, after spending $3,000 on purchases within the first 3 months from account opening

0% Introductory Rates

The Capital One Spark Miles Select comes with a 0% introductory APR for 9 months, followed by a 16.99% - 26.99% variable APR thereafter. Simply put, there’s no downside to having some time for interest-free spending. Note, however, that the 0% APR does not apply to balance transfers; if that is a must-have feature, you’ll have to look elsewhere.

Other Capital One Spark Miles Select Card Benefits

In addition to a streamlined earnings program, the Capital One Spark Miles Select comes with some perks typically reserved for cards with an annual fee. These include:

• Extended Warranty and Purchase Protection: Eligible items purchased with the card are protected against damage or theft for up to 90 days (up to $10,000 per claim and $50,000 total per cardholder). The original manufacturer’s warranty will also double in duration (restrictions apply)
• Rental Car Collision Coverage: Provides reimbursement for expenses incurred due to damage or theft. You must pay for the rental with the card to receive this benefit.  Rental car coverage is secondary, meaning coverage will kick in after your other insurance policies have paid out
• Travel Assistance: Includes emergency assistance and referrals to medical and legal services for you, your immediate family members and business associates
• Free Employee Cards: Manage employee spending with preset limits on each card
• Pick your own monthly due date.

The Fine Print

Interest Rates

• APR on Purchases: 16.99% - 26.99% variable

Fees

• Annual Fee: $0
• Cash Advance: Either $10 or 3% of the amount of each cash advance, whichever is greater.
• Foreign Transaction Fees: None

How The Capital One Spark Miles Select Card Stacks Up

Capital One Spark Miles Select for Business* vs. Capital One Spark Miles for Business*

The Capital One Spark Miles Select has a near-identical sibling: the Capital One Spark® Miles for Business. They do have two important differences, however. First, the Spark Miles Select carries no annual fee, while the Spark Miles has an annual fee of $0 intro for the first year; $95 after that. Also, the Spark Miles Select earns 1.5 miles per dollar spent, compared to 2 miles per dollar on the Spark Miles.

The Spark Miles will only be worth the fee if you plan to spend more than $4,750 annually on the card during each year beyond the first.

Here’s how the two cards stack up side-by-side:

Capital One Spark Miles Select for Business* vs. Spark Cash Select from Capital One*

These two cards are virtually identical except for the type of rewards they earn. The Capital One Spark Miles earns rewards that have the most value when redeemed for travel, while the Spark Cash Select from Capital One* earns cash back.

If you’re looking to get the most flexibility from your rewards program, cash is generally better. However, travel enthusiasts will likely prefer to take advantage of the Spark Miles Select’s travel partners, potentially increasing the value of their earnings.

Capital One Spark Miles Select for Business* vs. Bank of America® Business Advantage Travel Rewards World Mastercard® credit card

The Bank of America® Business Advantage Travel Rewards World Mastercard® credit card has a $0 annual fee and earns 3 points per dollar spent on car, hotel or airline travel booked through the Bank of America® Travel Center and 1.5 points per dollar spent on all other purchases.

If a business owner already has a Preferred Rewards relationship with Bank of America, the rewards rate on the Business Advantage can greatly increase. For example, rewards can increase by 25% to 75% depending on your relationship tier with Bank of America.

Thus, someone at the top tier of Preferred Rewards is eligible for a 75% increase in rewards, meaning that the 1.5 points per dollar earning rate on spending would be increased to 2.62 points per dollar.

While business owners with a Preferred Rewards relationship with Bank of America may benefit more from the Business Advantage card, the redemption ease of the Capital One Spark Miles Select may make it a more attractive option to other customers, as you can cash in your Spark Miles in any amount at any time. The Bank of America® Business Advantage Travel Rewards World Mastercard® credit card won’t let you redeem until you’ve accrued at least 2,500 points for travel, travel credits, or cash rewards, and gift card redemptions become available at 3,125 points.

Still searching? Compare alternatives from our Partners:

Is The Capital One Spark Miles Select Card For You?

Businesses with moderate spending would be hard-pressed to find a better no-annual-fee travel card than the Capital One Spark Miles Select. However, it’s possible that  concentrated spending in certain categories may increase your earning potential through other cards. You may also prefer to get cash back to use on more than just travel. If either of these is the case, it could be worth considering a different card.

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