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- Capital One Spark Miles for Business
Best flat-rate rewards card for frequent travelers
- 2 Miles per $1Rewards Rate
- 26.24% VariableAPR
- $95 ($0 first year)Annual Fee
- Good–ExcellentRecommended Credit
With a generous rewards structure, flexible redemption options and a useful suite of business tools, the Capital One Spark Miles for Business is particularly advantageous for companies with diverse expenses and regular travel needs. Although it comes with a high APR, the overall value it provides could be substantial. This card has the potential to transform everyday business spending into lucrative travel rewards and could be a valuable asset in managing your business finances.
Capital One Spark Miles for Business Overview
The Capital One Spark Miles for Business is a fairly robust business credit card offering many features such as a generous miles reward system, an attractive sign-up bonus, extensive redemption options without restrictions or expirations and a reasonable annual fee waived for the first year. Here's an overview of its key features before we dig a little deeper:
- Rewards rate: Earn 5X miles on hotels and rental cars booked through Capital One Travel and 2X miles on all other spending
- Welcome offer: Earn 50,000 bonus miles after spending $4,500 in the first three months
- Regular APR: 26.24% (variable)
- Annual fee: $95 ($0 in the first year)
- Intro APR offer: None
Important Card Details
Understanding the benefits and caveats of a credit card can be crucial for effective financial management, especially for businesses. Below, we'll take a detailed look at the features of the Capital One Spark Miles for Business to empower you with comprehensive knowledge, so you can make informed decisions best suited to your business needs.
Modest Annual Fee
The Capital One Spark Miles for Business card comes with an annual fee of $95, which is waived in the first year. While this fee may initially seem off-putting, the card's benefits can more than offset the cost. The bonus miles, high rewards rate and travel perks make the fee worthwhile, especially for businesses with significant spending patterns.
Above Average APR
The Capital One Spark Miles for Business does carry a higher-than-average APR at 26.24% variable. This can make maintaining a balance expensive. However, if you plan to pay off your balance in full each month, this won't be a significant issue. If your business occasionally carries a balance, you may want to consider pairing this card with a lower-interest card for those situations. Remember, the primary value of this card lies in its rewards, not as a borrowing tool. Use it wisely to maximize its potential.
Miles on Everyday Spending
Every dollar spent with the Spark Miles card earns you two miles. Bookings made through the Capital One Travel website will earn you five miles per dollar. Capital One Spark Miles for Business is a fantastic option for businesses that spend across various categories, with 2X miles earned for every dollar spent on everyday purchases. The bonus 5X miles you earn on hotel and rental car bookings through Capital One Travel makes this an ideal card for businesses with regular travel and varied everyday expenses, turning those costs into a generous return in the form of travel rewards.
Great Welcome Offer
A standout feature of this card is its substantial welcome offer. New cardholders can earn 50,000 bonus miles after spending $4,500 in the first three months. That's a rate of return over 11% on your spending, and it's easily achievable for most businesses. This one-time boost can provide a significant head-start toward redeeming travel rewards.
Flexible Redemption Options
This card offers impressive flexibility in redemption options, setting it a notch above many competitors. Miles can be transferred to over 15 travel loyalty programs, and there's no expiration date or earning limit. Plus, with no minimums for redemption and no blackout dates, you can control how and when you redeem your rewards. This flexibility enhances the real-world value of the miles earned.
Useful Business Tools
Aside from the travel rewards, the Capital One Spark Miles for Business also offers a suite of handy business tools. These include free employee cards — making it easier to accumulate rewards — and quarterly and year-end summaries to streamline your bookkeeping. Also, the downloadable purchase records can help monitor and track business expenses efficiently.
How the Capital One Spark Miles for Business Compares
Let’s take a high-level look at the Capital One Spark Miles for Business features alongside another highly-rated card designed for business owners.
How This Card Compares
Capital One Spark Miles for Business
- Rewards rate: Earn 5X miles on hotels and rental cars booked through Capital One Travel and 2X miles on all other spending
- Welcome offer: Earn 50,000 bonus miles after spending $4,500 in the first three months
- Regular APR: 26.24% (variable)
- Annual fee: $95 ($0 in the first year)
- Intro APR offer: None
- Best for: earning miles on varied spending
Ink Business Cash® Credit Card
- Rewards rate: Earn 6% cash back on purchases at office supply stores, internet, cable and phone services (on up to $25,000 in combined spending each year), 2% on purchases at gas stations and restaurants (on up to $25,000 in combined spending each year), 1% cash back on all other purchases
- Welcome offer: Earn $750 bonus cash back after spending $6,000 in the first three months
- Regular APR: 18.49% to 24.49% (variable)
- Annual fee: $0
- Intro APR offer: 0% intro APR on purchases for 12 months
- Best for: businesses spending big on office supplies
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