Capital One Spark Miles card review – 50,000 bonus miles and 2x miles on all purchases
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If you can qualify for small-business credit cards, the Capital One® Spark® Miles for Business card has a 50,000-mile bonus you’ll earn after meeting the card’s minimum spending requirements. This card also earns unlimited 2x Spark miles on all purchases.
Let’s take an in-depth look at this business credit card’s benefits, bonus and how to make the most of the miles you earn.
The information for the Capital One Spark Miles and Capital One Spark Cash cards has been collected independently by Million Mile Secrets. The card details on this page have not been reviewed or provided by the card issuer.
Capital One Spark Miles review
With the Spark Miles business card, you’ll earn 50,000 Spark miles (worth at least $500 in travel) after spending $4,500 on purchases within the first three months of account opening. That’s a sizable bonus – and because you’ll earn 2x Spark miles, the minimum spending for six months will earn you another 9,000 miles. That’s 59,000 miles after meeting your spending.
The minimum spending requirement breaks down to $1,500 per month and there are many creative ways to meet minimum spending requirements. You can even transfer your miles to airlines to potentially receive even more value from your miles. We’ll cover this below.
Benefits and perks
With the Capital One Spark Miles for Business, you’ll earn unlimited two Capital One miles per dollar on all purchases. You’ll also earn 5x miles on hotels and car rentals booked through the Capital One Travel℠ site. If you’re interested in learning more about Capital One rewards, take a look at our guide on how to earn Capital One miles.
Now let’s take a look at the Capital One Spark Miles card’s benefits.
Global Entry or TSA PreCheck fee credit
Receive up to $100 in credit for Global Entry or TSA PreCheck when you use your Spark Miles card. Everyone on the Million Mile Secrets team has Global Entry to speed through customs. Tip: When you have Global Entry, you’ll also have access to TSA PreCheck’s expedited security.
If an item you bought is lost or stolen, you can file a claim to replace, repair or be reimbursed for eligible items within 90 days of purchase, up to $10,000 per claim and $50,000 per cardholder.
This benefit doubles a manufacturer’s warranty up to one extra year on eligible warranties of three years or less.
Rental car insurance
The Capital One Spark Miles for Business offers primary car rental insurance for damage from collision or theft when renting for business purposes. For personal rentals, coverage is secondary, which means your personal or business car insurance company pays first.
How to redeem miles
Capital One miles are worth one cent each toward travel. You can redeem your miles for nearly any purchase that codes as travel, like taxi rides, hotels, room service and flights. You don’t even have to worry about searching for available award seats or hotel nights. To redeem your miles for travel, buy travel as you normally would with your card. Then you have 90 days to sign into your account, find the travel purchase and “erase” it with your miles.
You also have the option to pay for travel with your miles instead of purchasing your travel and erasing it later. You’ll find this option after signing into your account. If you use the portal, there is no minimum miles requirement to book. Whether you choose to use Capital One miles this way or by erasing your purchase later, you’ll get a value of one cent per mile. That makes the 50,000 mile bonus worth a minimum of $500. Or, you can transfer your miles to these Capital One transfer partners:
- Accor hotels
- Air Canada (Aeroplan)
- Air France & KLM (Flying Blue)
- Cathay Pacific
- Hainan Airlines
- Qatar Airways
- Singapore Airlines
- Wyndham hotels
With most of these airlines, the transfer ratio is 2:1.5, so you’ll get 1.5 airline miles for every two Spark miles you transfer. The exceptions are Emirates, Accor and Singapore Airlines, which have a 2:1 transfer ratio.
Because you earn two miles per dollar spent with the Capital One Spark Miles for Business, it’s effectively like earning 1.5 miles/points per dollar if you transfer your miles (or one mile/point per dollar spent in the case of Emirates, Accor and Singapore Airlines). This is a promising way to receive a greater value for your miles than just one cent each.
For example, you can fly one-way in business class from the U.S. to Europe for 55,000 Aeroplan miles (~73,334 Capital One miles). Given the cost of business class flights, that’s an absolute bargain. For more details, read out guide to the best ways to use Capital One Miles.
Is the annual fee worth it?
The Capital One Spark Miles card’s $95 annual fee is waived for the first year, so there’s no extra expense in trying it out for a year. After that it’s not hard to earn more in rewards than you’ll pay to keep the card. If you only redeem your miles for one cent each you’d need to spend $4,750 on the card each year to earn $95 back in rewards.
Who is the Capital One Spark Miles card for?
If you have a credit score of 700+ and are looking for a solid travel credit card bonus, this offer is worth your consideration. This is a small-business travel credit card, so you need a for-profit venture to open it. However, many people don’t realize they’re actually eligible to apply. If you sell items on eBay, if you’re a dog walker, if you are a tutor or freelance writer, you can be eligible for a small-business credit card. Even independent contractors, like Uber and Lyft drivers can qualify for a small-business credit card.
Keep in mind, Capital One will not process more than one application every six months. If you’ve opened another Capital One card recently, you’ll need to wait to apply for this one. Capital One also pulls from all three main credit bureaus (Experian, Equifax and TransUnion) when they process your application.
Capital One small-business cards are reported to your personal credit reports. That means they will add to your Chase 5/24 count, which isn’t the case for most business cards. So if you’re new to miles and points or want to apply for a Chase credit card, applying for this card might not be worth it.
Pairing the Capital One Spark Miles with other credit cards
If you prefer to earn rewards you can use for any purchase – not just travel – consider the Capital One® Spark® Cash for Business instead. For the same annual fee, you’ll earn 2% cash back on every purchase and can redeem your rewards for a statement credit for any amount whenever you want. The ease of use for the rewards can’t be beat.
The Capital One Spark Cash offers a $500 cash bonus after you spend $4,500 on purchases in the first three months of account opening. This is a similar offer to what you could earn with the Spark Miles business card except that you can’t transfer the rewards you earn to airlines. To learn more, read our Capital One Spark Cash card review.
If you like the idea of transferring your rewards to travel partners, but are looking for a rewards credit card with a much bigger bonus, then consider the Ink Business Preferred Credit Card. It has a sign-up bonus of 100,000 Chase Ultimate Rewards points (worth at least $1,250 in travel when redeemed through the Chase Ultimate Rewards travel site) after spending $15,000 on purchases in the first three months of account opening. This is the highest bonus of any Chase Ultimate Rewards card and you can transfer Ultimate Rewards points to 13 travel partners including, Hyatt, United, Singapore Airlines and Flying Blue (Air France and KLM). To learn more, read our Chase Ink Business Preferred review.
With the Capital One Spark Miles for Business card you can earn 50,000 bonus miles after meeting the minimum spending requirements. You can use the miles you earn toward nearly any type of travel purchase or transfer them to 17 travel partners like Air Canada, Flying Blue, Qantas and Singapore Airlines.
The $95 annual fee is waived the first year, meaning you could give the card a test run before you have to pay the fee and there are no foreign transaction fees. With the minimum spending included, you could end up with 59,000 Spark miles, which are worth at least $590 toward travel or up to 44,000 airline miles (for the airlines with a 2:1.5 ratio). You could earn yourself a cheap vacation on things your small business already pays for.
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Chase Sapphire Preferred® Card
Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That’s $750 toward travel when you redeem through Chase Ultimate Rewards®
2X points on dining at restaurants including eligible delivery services, takeout and dining out and travel & 1 point per dollar spent on all other purchases.
Get 25% more value when you redeem for travel through Chase Ultimate Rewards®. For example, 60,000 points are worth $750 toward travel.
Either $5 or 5% of the amount of each transfer, whichever is greater.
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