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The Capital One Spark Miles for Business Benefits & Perks Make It Great for the Everyday Freelancer or Business Owner

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The Capital One Spark Miles for Business Benefits & Perks Make It Great for the Everyday Freelancer or Business Owner

Jason StaufferThe Capital One Spark Miles for Business Benefits & Perks Make It Great for the Everyday Freelancer or Business OwnerMillion Mile Secrets Team

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Insider Secret: Despise waiting on long security lines at the airport? This credit card can help you get in the fast lane.

The Capital One® Spark® Miles for Business is one of the most flexible business credit cards for earning travel rewards.

Currently, the card has a 50,000 Spark mile sign-up bonus (worth $500 in travel), which you’ll earn after spending $4,500 on purchases within the first 3 months of account opening.

Plus, you’ll earn 2X Spark miles on every purchase.  So it’s a great card to have if a majority of your spending falls outside of traditional bonus categories found on other business credit cards.  And you can transfer Spark miles to 14 airlines, which really opens up your redemption options.

You can apply for the Capital One Spark Miles for Business card here.

The benefits of the Capital One Spark Miles Business card give you all sorts of options for getting to Hawaii and just about anywhere else!

Capital One Spark Miles Benefits & Perks

You can apply for the Capital One Spark Miles for Business card here

You can read our full review of the Capital One Spark Miles for Business card here

Not only does the Capital One® Spark® Miles for Business come with a generous sign-up bonus, but the $95 annual fee is waived the first year.  So there’s no risk in trying out the card for ~11 months to see how you like it.

It is a business card, which means you’ll need to have some sort of a for-profit venture to be eligible.  But you don’t necessarily need to be running a full-time business.  You could be a part-time freelancer, Uber driver, or dog walker and qualify for a small business card.  If you’re a sole proprietor you can even use your own name as the name of the business on the application and your social security number as the business tax ID.

Just note, Capital One business cards will show up on your personal credit report and Capital One is known to pull from all 3 credit bureaus.  Because this card will appear on your personal credit report, it will count toward your Chase “5/24” limit.  So you’ll want to be sure you have the Chase credit cards you want before you apply.

Before you apply, be sure to also check out these Capital One application tips.

1.   2X Miles Everywhere With No Limit

I love earning miles & points and figuring out ways to get the most out of them.  Even before writing about credit card rewards was my full-time job, it was a part-time hobby.  But for most people, it’s not worth the time and effort to earn every last point and squeeze every last drop of value from them.

This is where the Capital One® Spark® Miles for Business card really shines.  With it, you don’t have to worry about whether or not you’re using the right card for a specific purchase.  Sure, it doesn’t have any shiny 3X or 5X bonus categories, but how many of your business expenses fall into those narrow categories anyway?

Some businesses, like coffee shops, won’t have a lot of expenses that fall into the typical bonus categories

In addition, some cards have a yearly dollar limit on their bonus categories.  That’s not the case with the Capital One Spark Miles Business card.  And every mile is worth at least 1 cent toward travel purchases, so it’s easy to know what your points are worth.

This is as simple as it gets.

2.   Redeem Rewards for Nearly Any Travel Purchase

Earning credit card rewards is often much easier than redeeming them.  Again, this isn’t the case with the Capital One Spark Miles for Business card.

You can use your Spark miles to erase eligible travel expenses at a rate of 1 cent per point.  In the past, I’ve used my wife’s Spark miles to erase an expensive $600 car rental charge.  We just paid with the card and I went online to redeem the points.  It couldn’t have been easier.

When you’re erasing travel charges, you don’t need to worry about blackout dates or finding available award nights or flights.  Just book the travel you want, when you want.  One of the hidden benefits of this is that you can also earn frequent flyer miles (or hotel points) at the same time you’re getting free travel!

One thing to note is that in order to be able to erase a charge with Spark miles it has to code as travel with Capital One.  Most of the purchases you’d expect to code as travel will do just that.  But there are some gray areas.  For example, there are lots of reports of Airbnb coding as travel, whereas some vacation home rental sites, like HomeAway, will code as real estate.

3.   Transfer Rewards to Airlines

Capital One added the ability to transfer your miles (Spark & Venture) to 14 airline partners.  This gives you more options for redeeming your miles.

You can transfer Spark miles to these 12 airlines at a 2:1.5 ratio (2 Spark miles = 1.5 Airline miles):

  • Aeromexico
  • Air Canada (Aeroplan)
  • Air France & KLM (Flying Blue)
  • Alitalia
  • Avianca
  • Cathay Pacific
  • Etihad
  • EVA
  • Finnair
  • Hainan Airlines
  • Qantas
  • Qatar Airways

And to these airlines at a 2:1 ratio:

  • Emirates
  • Singapore Airlines

Having the ability to transfer miles to airlines gives you options when it comes to finding great deals.  For example, it costs 55,000 Aeroplan miles (82,500 Spark miles) to book a one-way flight to Europe Zone 1 (Germany, UK, France, and more).

If you used those same 82,500 Spark miles to erase a travel expense they would be worth $825.  But that same Business Class flight could easily cost $2,500+ out of pocket.  It’s easy to see how the ability to transfer your miles can really power up your travel!

4.   Primary Car Rental Insurance

I frequently rent cars and I make sure to always pay with a credit card that comes with primary rental car insurance.  That saves me the $15+ per day the rental company normally charges for the same coverage.

It’s easy to avoid paying for extra insurance for your rental car

The Capital One Spark Miles for Business rental insurance provides primary coverage for damage and theft to your rental car if it’s rented primarily for business purposes.  For personal rentals the coverage is secondary.

5.   Extended Warranty & Purchase Protections

These benefits provide a little extra peace of mind when you’re making big-ticket purchases.  First, the extended warranty perk will double a manufacturer’s warranty up to 1 extra year on eligible warranties of 3 years or less.

And the Capital One Spark Miles for Business purchase protection will also cover purchases for 90 days.  So if an item you bought is lost or stolen in that timeframe, you can file a claim to replace, repair, or reimburse eligible items, up to $10,000 per claim and $50,000 per cardholder.

6.   Free Employee Cards

Keeping track of employee spending is free and easy with the Capital One Spark Miles for Business because you can get employee’s their own card at no extra cost!

You can easily download purchase records and quarterly or yearly summaries and spreadsheets.  And the documents are downloadable in formats compatible with Quicken, QuickBooks, and Excel.

7.   Visa SavingsEdge

Once you enroll your card in the Visa SavingsEdge program you’ll automatically save up to 15% at select merchants.

The discounts are for all sorts of purchases from specific merchants including hotels, office supply stores, gas stations, restaurants, and more.  There is no cost to join, so this program is just extra money in your pocket at the end of the day.

8.   No Foreign Transaction Fees

This doesn’t seem like a big deal until you’ve got an extra 3% fee tacked on to your vacation expenses.  Remember, foreign transaction fees typically apply to anything you pay for in a foreign currency, not just when you make a purchase outside of the country.

So it’s extra nice that the Capital One Spark Miles for Business doesn’t have any foreign transaction fees.

9.   Zero Fraud Liability

One of the unsung heroes of credit card perks is the fact that you aren’t liable for any fraudulent charges made to your card.

This is huge because if you exist online at all, then eventually, your information is going to be a part of some big data breach.  My information has been leaked in several that I know of.

With the Capital One Spark Miles for Business you won’t need to sweat your credit card statement because you won’t have to pay for charges you didn’t make.  And you’ll get real-time alerts by text, phone, or email when someone attempts to use your card information fraudulently.

What do you think, is the Capital One Spark Miles for Business for you?  Or are you interested in one of the other top business credit cards?

10.   Global Entry or TSA PreCheck

Receive up to a $100 credit for Global Entry or TSA PreCheck to cover the cost when you pay for the application with your Spark Miles card. Everyone here on the Million Mile Secrets team has Global Entry to speed through customs. And when you have Global Entry, you always get the TSA PreCheck stamp too, in our experience.

It’s time to learn how to make the most of your credit card rewards.  Subscribe to our newsletter and we’ll send you tips, tricks, and deals every day:

Capital One® Spark® Miles for Business

Capital One® Spark® Miles for Business

  • Earn unlimited 2 miles per $1 on every purchase, everywhere
  • Earn a one-time bonus of 50,000 miles – equal to $500 in travel – once you spend $4,500 on purchases within the first 3 months from account opening
  • Receive up to $100 credit for one Global Entry or TSA Pre✓® application fee
  • Fly on any airline, anytime, with no blackout dates or seat restrictions
  • $0 intro annual fee for the first year; $95 after that
  • $0 fraud liability if your card is lost or stolen
  • Free employee cards which also earn unlimited 2x miles from their purchases
  • No foreign transaction fees

More Info

Editorial Note: We're the Million Mile Secrets team. And we're proud of our content, opinions and analysis, and of our reader's comments. These haven’t been reviewed, approved or endorsed by any of the airlines, hotels, or credit card issuers which we often write about. And that’s just how we like it! :)

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Capital One will report to all credit agencies monthly. It will impact personal credit scores. Not worth it.

Always a bummer when any business credit card from an issuer reports to personal. But if the card’s perks and rewards are a good match with your spending habits, I’d say go for it.

With regards to how it affects your credit, the only real negative I can think of is a temporary hit to your credit score for having a brand new account show up.

Other than that, keep your monthly balance low and it won’t adversely affect your credit score.