Capital One® Spark® Miles for Business Review 2019

Capital One® Spark® Miles for Business is best for business owners who spend money in a variety of categories and want to earn miles to redeem for travel. You will earn unlimited 2x miles on all spending. This card’s annual fee is waived for the first year and then it’s $95. Its variable ongoing APR is 19.24%.

The best travel business credit cards that offer fixed-rate rewards pay up to 2x points on everyday spending. This Capital One business credit card offers the highest fixed rate points return available among small business credit cards. However, it doesn’t offer an introductory 0% annual percentage rate (APR) period. We rate this card 4 out of 5 stars.

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How We Evaluated Capital One® Spark® Miles for Business

Capital One® Spark® Miles for Business provides strong ongoing fixed-rate rewards when compared to other small business credit cards. In our review, we also took into account this Capital One business credit card’s signup bonus, costs, and additional benefits. Capital One will waive the $95 annual fee over the first 12 months.

We considered the following criteria in our evaluation:

• Ongoing rewards: The rewards you’ll earn when you use Capital One® Spark® Miles for Business. This Capital One business credit card offers unlimited 2x miles on all spending.
• Introductory rewards: The introductory offer you can earn by reaching a minimum spending requirement. You can earn a one-time bonus of 50,000 miles―equal to $500 in travel―once you spend $4,500 on purchases within the first three months from account opening.
• Additional features: Whether the card offers additional benefits and perks. Capital One® Spark® Miles for Business offers card perks including extended warranty protection, purchase protection, rental car insurance, and emergency assistance services.
• Annual fee: How much it costs to own the card every year. Capital One® Spark® Miles for Business has an annual fee of $95, which is waived the first year.
• Intro APR: Whether the card has an introductory 0% APR period. Capital One® Spark® Miles for Business does not offer an interest-free financing period.
• Ongoing APR: How much it will cost to finance purchases on your card. Capital One® Spark® Miles for Business has a variable ongoing APR of 19.24%.

Capital One® Spark® Miles for Business is not ideal if you’re looking to receive interest-free financing. If free financing is one of your main concerns, consider the American Express Blue Business® Plus credit card (see rates & fees). That card offers one of the longest introductory 0% APR periods among small business credit cards. We also believe that American Express business credit card is one of the best 0% APR business credit cards.

How We Evaluate Travel Rewards Business Credit Cards

When grading fixed-rate travel rewards business credit cards like Capital One® Spark® Miles for Business, weight ongoing rewards heaviest. We rate introductory rewards as slightly less important, but it’s still the second biggest factor. We also consider the annual fee, introductory and ongoing APRs, and additional features.

We graded Capital One® Spark® Miles for Business using the following methodology:

Based on our 5-star rating system where 20 points equals one star, Capital One® Spark® Miles for Business would need to improve its introductory APR to earn 4.5 stars. In cases where cards receive perfect scores in most categories, we may award bonus points to boost the card’s rating.

Although this Capital One business credit card offers top fixed-rate miles rewards, there are other travel cards that offer a better rewards structure. Chase Ink Business Preferred^SM, for example, pays 3 points per dollar spent on travel purchases, telecommunication services, and advertising services. That card is best for business owners who have many travel expenses but don’t need top-tier perks like airport lounge access.

Who Capital One® Spark® Miles for Business Is Right For

Capital One® Spark® Miles for Business is best for business owners who don’t want to keep track of bonus category spending and want to earn fixed-rate rewards. You’ll earn unlimited 2x miles on all spending. If you want to earn a higher rate, American Express Business Platinum Card® is one of the best travel rewards credit cards available. It offers 5x points on travel-expenses through American Express Travel.

Alternatives to Capital One® Spark® Miles for Business

Compared to Capital One® Spark® Miles for Business, other travel rewards business credit cards offer higher limits, more substantial introductory rewards, and no-interest financing on purchases and balance transfers. There are even business credit cards with no annual fees, which can help you keep money in your pocket.

Three alternatives to Capital One® Spark® Miles for Business are:

American Express Business Platinum Card®

The American Express Business Platinum Card® is one of the best travel business credit cards available. It’s designed for business owners who travel often, as it offers several free airport perks, such as airport lounge access. This card is a charge card, which means there’s no preset spending limit, and you must pay your balance in full monthly. You can learn more about this card’s value in our American Express Business Platinum Card® review.

Chase Ink Business Preferred^SM Credit Card

The Chase Ink Business Preferred^SM credit card is one of the best high limit business credit cards available. It’s meant for business owners who are looking to maximize their rewards at a lower annual fee. Plus, it also offers a substantial introductory reward. You can learn more about this card’s offerings and additional benefits in our Chase Ink Business Preferred^SM review.

American Express® Business Gold Card

The American Express® Business Gold Card is best for business owners who want to maximize rewards on travel and other expenses. You’ll earn top travel rewards in the two categories where your business spends the most each month. Additionally, you’ll receive top-tier travel perks, such as baggage and car rental insurance. You can learn more about these perks in our American Express® Business Gold Card review.

Capital One® Spark® Miles for Business Costs

Capital One® Spark® Miles for Business does not carry an introductory 0% APR period and has an ongoing variable APR of 19.24%. It also has an annual fee of $95, which Capital One waives over the first 12 months. There are other small business credit cards that don’t charge annual fees, including American Express Blue Business® Plus (see rates & fees).

Financing costs and fees on this Capital One business credit card include:

• Introductory APR: None
• Ongoing APR: 19.24% variable, which changes with the prime rate
• Annual fee: $95, which is waived the first year
• Balance transfer fee: None
• Foreign transaction fee: None
• Cash advance fee: $10 or 3%, whichever is greater; cash advance APR is 25.24% variable
• Late payment fee: Up to $39
• Returned payment fee: None
• Penalty APR: 31.65% variable, which is applied if you make a late payment

Capital One® Spark® Miles for Business is not meant for business owners who are seeking cheap financing on purchases or balance transfers. If you need to transfer a balance, consider a balance transfer business credit card. Those cards offer interest-free financing periods on balance transfers up to 12 months. Once the promotional period ends, any unpaid balances will begin to accrue interest.

How to Avoid Paying Interest on Capital One® Spark® Miles for Business

You’re required to pay your entire balance at least 25 days after the close of each billing cycle to avoid interest on Capital One® Spark® Miles for Business. There are other small business credit cards that may offer shorter payment windows. Chase Ink Business Preferred^SM, for example, requires you to pay off your balance within 20 days compared to 25 days.

Capital One® Spark® Miles for Business Rewards

Capital One® Spark® Miles for Business offers an introductory reward of 50,000 bonus miles after you spend $4,500 within the first three months. You’ll also earn unlimited 2x miles on all spending. This is the highest return among fixed-rate travel business credit cards.

Introductory Rewards

Capital One® Spark® Miles for Business offers 50,000 bonus miles after spending $4,500 within the first three months.

The introductory reward of 50,000 bonus miles is worth $500. If you’re willing to pay an annual fee over the first year and every year thereafter, you could earn a more substantial introductory offer. Chase Ink Business Preferred^SM offers 80,000 bonus points after spending $5,000 within the first three months. That offer is worth up to $1,000 when redeemed through Chase Bank’s rewards portal.

Ongoing Rewards

Capital One® Spark® Miles for Business offers 2x miles on all purchases.

The ongoing rewards offered on this Capital One business credit card are excellent when compared to other fixed-rate rewards cards. If you want to earn a higher return rate, you may need to take on a higher annual fee. For example, the American Express Business Platinum Card® pays up to 5x points but charges $400 more to own the card annually.

Rewards Restrictions

Capital One® Spark® Miles for Business won’t give rewards for the following:

• Interest charges
• Cash advances
• Travelers’ checks
• Purchases or reloading of prepaid credit cards
• Purchases of gift cards
• Person-to-person payments
• Any cash equivalents

With this small business credit card, you can earn an unlimited amount of points. Additionally, points you earn won’t expire unless you close your account. Reward restrictions are similar across small business credit cards.

How You Can Redeem Your Rewards

There are six primary ways to redeem your rewards:

• Redeem for new travel reservations: You can book flights, car rentals, or hotels using your miles. For every $1 of travel, you’ll need to redeem 100 points. For example, if your travel costs $200, you would multiply that by 100 to determine you need 20,000 miles to cover the cost.
• Redeem for past travel purchases: You can redeem your rewards for past travel purchases made on your card. Redemptions must be made within 90 days from the date your travel purchase shows on your account.
• Transfer to a select travel partner: You can transfer your miles to 15 select loyalty programs, including Air Canada, JetBlue, AeroMexico, Emirates Skywards, Qantas, and Qatar Airways. Your rewards may be worth more in free travel when you transfer to one of these partners.
• Statement credit or check: You can also redeem your points as cash back in the form of a statement credit or a check by mail. Redemption value is one cent per point.
• Redeem for gift cards: You can redeem your rewards for gift cards at restaurants, retailers, or hotels. Your gift card will arrive within two to three weeks.
• Automatic redemption: You have two options for receiving your rewards automatically. You can receive them at a set time each calendar year or when a threshold has been reached ($25, $50, $100, $200, $500 or $1,500).

Capital One also offers Capital One® Spark® Cash for Business, which is essentially an identical card besides the form of rewards. With that card, you’ll earn cash back instead of points. This also means you won’t have the option to redeem your rewards for travel or transfer them to a select travel partner.

Capital One® Spark® Miles for Business Additional Features

According to Capital One’s website, Capital One® Spark® Miles for Business comes with several card benefits, including insurance and protections. You’ll either receive all Visa® Signature Business Benefits or Visa® Business Benefits once you’re approved. We contacted Capital One, which wouldn’t disclose how it determines your benefits package. However, this shouldn’t be a deciding factor when you’re applying.

In this review, we look at the Visa® Signature Business Benefits, which includes travel accident insurance, lost luggage reimbursement, and price protection plan in addition to all Visa® Business Benefits.

The benefits included in Visa® Business Benefits are:

• Purchase security
• Extended warranty protection
• Auto collision damage waiver
• Travel and emergency services

The benefits included in Visa® Signature Business Benefits are:

• Purchase security
• Extended warranty protection
• Travel accident insurance
• Lost luggage reimbursement
• Auto collision damage waiver
• Travel and emergency services
• Price protection plan

Other credit card issuers, including American Express, offer similar insurance and protections to Visa® Signature Business Benefits. If you travel frequently, these benefits can be worth thousands of dollars every year. This is one way to receive the most value from American Express business credit cards.

Purchase Security

According to Capital One’s website, your purchased items will be protected against theft or damage within the first 90 days of your purchase. To be eligible, you must charge the entire transaction to your Capital One® Spark® Miles for Business card. Capital One’s benefits guide states that this coverage is limited to $10,000 per incident and $50,000 per year.

What’s Covered with Capital One® Spark® Miles for Business Purchase Protection

Purchase security covers items that are stolen or damaged within 90 days from your purchase date. Capital One will replace, repair, or reimburse you for the original purchasing price up to $10,000 per claim. Other small business credit cards may offer larger coverage windows. For example, the American Express Business Platinum Card® provides 120 days of coverage. That card also offers identical coverage levels of $10,000.

What Capital One® Spark® Miles for Business Purchase Protection Excludes

Purchase protection does not cover the following types of items:

• Animals and living plants
• Antiques or collectible items
• Boats, aircraft, automobiles, and any other motorized vehicles and their motors, equipment, or accessories, including trailers
• Computer software
• Items purchased for resale
• Items that are lost
• Items under the care and control of a common carrier
• Jewelry and watches stored in your baggage
• Theft or damage resulting from abuse, fraud, or hostilities of any kind
• Theft or damage resulting from misdelivery or voluntary parting with property
• Medical equipment
• Perishables or consumables

These excluded items are similar when compared to other business credit cards that offer purchase security.

Extended Warranty Protection

According to Capital One’s website, the extended warranty protection offered on Capital One® Spark® Miles for Business covers warranties of three years or less. Capital one will double the length of the warranty up to one year. Extended warranty protection is capped at $10,000 per item and $50,000 per year.

What’s Covered with Capital One® Spark® Miles for Business Extended Warranty Protection

Capital One® Spark® Miles for Business extended warranty protection only covers warranties of up to three years. This coverage window is shorter when compared to other business credit cards. The American Express® Business Gold Card covers warranties of five years or less. Plus, American Express offers up to an additional two years of coverage compared the additional one year on this card.

What Capital One® Spark® Miles for Business Extended Warranty Protection Excludes

The following purchases are not covered by extended warranty protection:

• Boats, automobiles, aircraft, and any other motorized vehicles and their motors, equipment, or accessories
• Any costs other than those specifically covered under the terms of the original manufacturer’s written U.S. repair warranty as supplied by the original manufacturer, or other eligible warranty
• Items purchased for resale
• Computer software
• Medical equipment
• Real estate and items which are intended to become part of real estate including
• Rented or leased items, or items purchased on an installment plan
• Used or pre-owned items

Excluded items are common when compared to other small business credit cards that offer extended warranty protection.

Travel Accident Insurance

According to Capital One’s website, the travel accident insurance is only available through Visa® Signature Business Benefits. If you receive these Capital One benefits, Capital One will offer travel accident insurance up to $250,000 for you, your spouse, and unmarried dependent children.

What’s Covered with Capital One® Spark® Miles for Business Travel Accident Insurance

Capital One’s travel accident insurance covers accidental loss of life, limb, sight, speech or hearing while riding as a passenger in, entering or exiting any licensed common carrier. According to Capital One’s benefits, this protection is capped at $250,000. There are other small business credit cards that offer higher coverage levels, including some American Express business credit cards. Specifically, American Express Business Platinum Card® provides coverage of up to $500,000.

What Capital One® Spark® Miles for Business Travel Accident Insurance Excludes

The travel accident insurance doesn’t cover loss resulting from:

• Emotional trauma, mental or physical illness, disease, pregnancy, childbirth or miscarriage, bacterial or viral infection, or bodily malfunctions
• Suicide, attempted suicide, or intentionally self-inflicted injuries
• Declared or undeclared war, but war does not include acts of terrorism
• Travel between the insured person’s residence and regular place of employment

Excluded items here are similar to other small business credit cards that offer extended warranty protection.

Lost Baggage Reimbursement

According to Capital One’s website, lost luggage reimbursement is a Visa® Signature Business Benefits. If you receive these benefits, your checked luggage or carry-on baggage is protected against theft or misdirection by the common carrier. Capital One’s benefits states, coverage is limited to $3,000 ($2,000 for New York residents).

What’s Covered with Capital One® Spark® Miles for Business Lost Baggage Reimbursement

Capital One® Spark® Miles for Business lost luggage reimbursement covers the value of your checked or carry-on baggage up to $3,000 per trip. If you are a New York resident, you’ll only have coverage up to $2,000. When compared to other small business credit cards, some do not offer a similar protection. For example, Chase Ink Business Preferred^SM doesn’t provide any baggage insurance.

What Capital One® Spark® Miles for Business Lost Baggage Reimbursement Excludes

The following items are not covered by lost luggage reimbursement:

• Automobiles, automobile accessories and/or equipment; motorcycles, motors, bicycles (except when checked with the common carrier), boats, or other vehicles or conveyances
• Contact lenses, eyeglasses, sunglasses, hearing aids, artificial teeth, dental bridges, and prosthetic limbs
• Money, securities, credit or debit cards, checks, and traveler’s checks
• Tickets, documents, keys, coins, deeds, bullion, stamps, perishables, consumables, perfume, cosmetics, rugs and carpets, animals, cameras, sporting equipment, and household furniture
• Property shipped as freight or shipped prior to trip departure date
• Items specifically identified or described in and insured under any other insurance policy
• Losses arising from confiscation or expropriation by any government or public authority or detention by customs or other officials
• Losses resulting from abuse, fraud, or hostilities of any kind
• Business Items, cellular telephones, or art objects

Other travel business credit cards that offer this protection, like the American Express® Business Gold, exclude similar items.

Auto Rental Collision Damage Waiver

According to Capital One’s website, Capital One® Spark® Miles for Business protects you from rental vehicle damage due to collision or theft. This is primary coverage as long as the car rental is for business purposes. This means you don’t need to use your personal insurance or the car rental company’s insurance. Capital One may reimburse you up to the cash value of the car.

What’s Covered with Capital One® Spark® Miles for Business Auto Rental Collision Damage Waiver

Capital One’s auto rental collision damage waiver covers losses due to theft or collision that happen when the authorized driver is driving the rental vehicle. This car rental insurance only covers the first 31 consecutive days of a rental agreement. Other business credit cards may put a monetary cap on the coverage. For example, the American Express Gold Delta SkyMiles® Business card limits coverage to $50,000.

What Capital One® Spark® Miles for Business Auto Rental Collision Damage Waiver Excludes

The following auto rental collision damage waiver coverage limits apply:

• Expensive, exotic, and antique automobiles
• Certain vans
• Vehicles that have an open cargo bed
• Trucks, motorcycles, mopeds, and motorbikes
• Limousines and recreational vehicles
• Wear and tear, gradual deterioration, or mechanical breakdown
• Any violation of the rental agreement
• Loss or theft of personal belonging
• Confiscation by authorities
• Rental periods that exceed 31 consecutive days
• Leases or mini leases
• Theft or damage reported more than 45 days from the date of the incident

Small business credit cards that offer a similar primary coverage generally exclude the items listed above.

Travel and Emergency Assistance Services

According to Capital One’s website, you will have access to a hotline 24 hours a day that offers travel, emergency, medical, and legal assistance. Additionally, any immediate family members or business associates can utilize this perk too. The number is free to call, but you are responsible for any fees assessed by third party service providers.

Services Capital One® Spark® Miles for Business Provides

This card offers the following travel and emergency services:

• Record and relay urgent messages
• Transportation assistance home or to the nearest medical facility
• Ticket replacement
• Emergency translation service
• Lost luggage locator service
• Pretrip assistance

This card offers the following medical and legal services:

• Medical referral assistance
• Medical prescription assistance
• Referrals for English-speaking attorneys and U.S. embassies

You’ll also find similar travel and emergency assistance services on other small business credit cards. However, business credit cards that don’t charge an annual fee may offer fewer services. Chase Ink Business Preferred^SM, for example, carries no annual fee and doesn’t offer legal referrals through its travel and emergency assistance services.

Price Protection Plan

According to Capital One’s website, Capital One’s price protection plan can help you save money on products you’ve purchased using your Capital One® Spark® Miles for Business card. If you see a previously purchased item listed at a lower price in another merchant’s printed advertisement within 60 days, you can receive a refund of the difference from Capital One. The refund amount is limited to $500 per item and $2,500 per account.

Price protection is a feature that is unique to Capital One business credit cards, but it’s only available through Visa® Signature Business Benefits. We have reviewed dozens of credit cards, and we have not come across an issuer that offers a similar feature.

Adding Capital One® Spark® Miles for Business Employee Cards

Capital One® Spark® Miles for Business offers free additional employee cards. Issuing employee cards is a handy way to give your employees access to company funds. Most often, business credit cards offer employee cards at no additional cost, even when the primary card has an annual fee.

If your business is looking to facilitate business-to-business (B2B) purchases of goods and services, a good alternative would be a purchasing card. A purchasing card is best for business owners looking to issue employee cards to purchase goods and services instead of using other payment methods, such as checks or automated clearing house (ACH) transactions. These act as charge cards, which means they’re required to be paid off in full monthly.

What Capital One® Spark® Miles for Business is Missing

Capital One® Spark® Miles for Business does not have an interest-free financing period. Additionally, its ongoing APR is higher than the average of small business credit cards, which is around 17%. If your primary concern in a card is the introductory APR, this card is not best for you. Alternatively, a card like American Express Blue Business® Plus would be a better fit. That card offers no interest for 12 months on purchases and balance transfers.

Capital One® Spark® Miles for Business Reviews

Capital One® Spark® Miles for Business are mostly positive. According to Capital One’s website, users love that they can earn rewards on all off their purchases and the card’s extra features. Some users complain about issues they’ve had when requesting a credit limit increase and the card’s annual fee.

How to Apply for Capital One® Spark® Miles for Business

You can apply for Capital One® Spark® Miles for Business online. To get a business credit card, you must fill out a basic application with your business and personal information. Usually, you will receive an approval or rejection instantly. If you don’t, you’ll receive more details in an email or letter within seven to 10 business days. Once approved, you’ll receive your card within seven to 10 business days.

How to Login Into Your Capital One® Spark® Miles for Business Account

You can log into your Capital One account online with your username and password. If you have any problems, you can call customer service through the phone number on the back of your credit card.

Other Capital One Business Credit Cards

Capital One offers four other business credit cards, which are best for business owners who want fixed-rate rewards. You may want to consider one of these cards if you want no annual fee, interest-free financing, or the opportunity to earn cash back rewards.

The other Capital One business credit cards are:

• Capital One® Spark® Cash for Business: Best for business owners who want to earn unlimited fixed-rate cash back rewards. This card is similar to Capital One® Spark® Miles for Business, with the exception of how you can redeem your rewards.
• Capital One® Spark® Cash Select for Business: Best for business owners who want interest-free financing and no annual fee. You’ll also earn unlimited cash back on every purchase, but at a lower rate than Capital One cards that charge an annual fee.
• Capital One® Spark® Miles Select for Business: Best for business owners who want an introductory 0% APR period and no annual fee. You’ll also earn unlimited miles on all spending.
• Capital One® Spark Classic for Business: Best for business owners who have fair credit, but still want to earn rewards. This card has no annual fee and is one of the best fair credit business credit cards.

Bottom Line

Capital One® Spark® Miles for Business is best for business owners who want to earn unlimited miles on all spending. Additionally, you can earn an introductory reward of 50,000 bonus miles after you spend $4,500 within the first three months. Applying online only takes a few minutes, and you can be approved instantly.

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For rates and fees on the American Express® Business Gold Card, please click here.
For rates and fees on the American Express Blue Business® Plus, please click here.
For rates and fees on the American Express Business Platinum Card®, please click here.