Link: Apply now for the Capital One Spark Miles for Business Card (Rates & Fees)
The Capital One Spark Miles for Business (review) is one of my favorite business credit cards. If you’re looking to earn travel rewards and want a card that offers a great bonus, reasonable annual fee, and solid return on everyday spending, this is the card for you.
In this post, I wanted to share eight reasons you should consider picking up the card. In no particular order…
In this post:
Bonus of 50K Capital One Spark miles
The Capital One Spark Miles offers a welcome bonus of 50,000 Spark miles after spending $4,500 within the first three months. Personally I value Capital One miles at 1.7 cents each, so to me this bonus is worth $850, which is quite good. I’ll talk more below about the general value of and flexibility provided by Capital One miles.
Annual fee waived for first 12 months
The Capital One Spark Miles has a reasonable $95 annual fee (Rates & Fees), which is even waived for the first 12 months. The waived annual fee for the first 12 months is a great way to try the card before you have to “buy” it, so to speak.
On top of that, the ongoing annual fee is quite reasonable, and lower than what you’ll find on many other lucrative business cards, like the American Express® Business Gold Card (review) or Capital One Spark Cash Plus (review) (Rates & Fees).
2x Capital One Spark miles on all purchases
The Capital One Spark Miles offers unlimited 2x Spark miles on all purchases, making this one of the best cards for everyday spending. I value Capital One miles at 1.7 cents each, so to me that’s the equivalent of a 3.4% return on everyday spending, which is tough to beat.
Capital One Spark miles are valuable & flexible
Capital One miles provide lots of flexibility. For one, you can redeem them after the fact for one cent each toward virtually any travel purchase. That’s not my preferred use of these miles, though.
Rather my preference is to transfer miles to Capital One’s airline & hotel partners, as you can transfer miles at a 1:1 ratio to over a dozen partners. As is the case with all major transferable points currencies, this allows you to get way outsized value, especially when redeeming for first & business class travel.
No foreign transaction fees
The Capital One Spark Miles has no foreign transaction fees (Rates & Fees), making it a fantastic card for purchases abroad. It’s nice to not only get an industry-leading return on spending, but to get that same rate internationally without it costing you extra.
Most non-Capital One cards that earn 2x points per dollar do have foreign transaction fees, so this is a significant competitive advantage.
Airport lounge access twice per year
The Capital One Spark Miles offers lounge access twice every year to any of the following lounges, just by presenting your card:
- You can access Capital One Lounges; so far the Capital One Lounge DFW is open, and it’s amazing
- You can access 100+ Plaza Premium Lounges, including Virgin Atlantic Clubhouses in the United States
You can use your two annual lounge visits either for two separate visits just for you, or you can use them for a single visit with a guest. While there are of course other cards that have more comprehensive lounge access perks, they almost always have steep annual fees. So this is a pretty awesome perk for a card like this.
Rental car coverage
Rental car coverage is an important perk many people look for in credit cards. Fortunately the Capital One Spark Miles offers collision damage waiver coverage when renting for business reasons.
Just charge the entire rental to your card and decline the rental company’s collision damage waiver coverage, and you’ll be covered for damage due to collision or theft. Of course you’ll want to consult the cardmember agreement for full details.
Global Entry or TSA PreCheck credit
The Capital One Spark Miles offers a Global Entry or TSA PreCheck credit once every four years. This is super handy, as TSA PreCheck can save you lots of time at security, while Global Entry can save you lots of time at immigration. They’re among the two innovations that have most improved the airport experience over the years, in my opinion.
Bottom line
The Capital One Spark Miles is a fantastic business credit card, with a big welcome bonus, annual fee waived the first year (Rates & Fees), great return on everyday spending with no foreign transaction fees (Rates & Fees), and some surprisingly valuable perks for a card with a reasonable ongoing annual fee.
If you’re looking for a business card with great travel rewards for everyday spending, it’s hard to beat this card. If you don’t yet have the Capital One Spark Miles and are eligible, I’d recommend considering applying.
For Capital One products listed on this page, some of the above benefits are provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply.
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