Capital One Spark Miles Review
The Capital One Spark Miles business card is a solid rewards card with a generous early spending bonus of 50,000 miles and straightforward earning structure. Businesses can earn rewards from all regular expenses at a flat rate of two miles per dollar spent. Redemptions are flexible and the various airline partners make this a card worth considering for business owners.
Capital One’s Spark Miles card is designed for small business owners who want a streamlined way to earn rewards from their business expenses. The card also has no foreign transaction fees and can help business owners save money on airline tickets with redemptions available on partner airlines. MoneyGeek's Capital One Spark Miles review dives into the card's features, benefits, downsides and other aspects to help you decide whether it's right for you.
Card Details to Know Up Front
- Bonus, Fee or FeatureHas or Not
- Has Annual Fee
- Has Balance Transfer Offer
- Has APR Offer
- Cash Back Rewards
- Travel Rewards
Capital One Spark Miles at a Glance
The Capital One Spark Miles Credit Card is ideal for frequent business travelers who want to earn unlimited bonus miles that never expire and pay no fees for overseas transactions. You earn two miles per dollar spent on the card, and the $95 annual fee is waived for the first year. Those who use the card frequently can easily attain its $4,500 spending threshold in three months and earn 50,000 bonus miles. In addition, purchases made through the Capital One Travel program earn five bonus miles for every dollar.
- Capital One Spark Miles
Best flat-rate rewards card for frequent flyers
- Good-ExcellentCredit Needed
- $95Annual Fee
- 2 Miles per $1Rewards Rate
- 2xRewards Rate at Hotels
- 2xRewards Rate on Groceries
Pros & Cons Explained
The Capital One Spark Miles card is ideal for busy entrepreneurs and frequent flyers with excellent credit scores who want a no-fuss travel rewards card. It does, however, have a few drawbacks that may discourage you from considering it.
- Flat-Rate RewardsThe Spark Miles Credit Card provides you with an unlimited opportunity to earn two miles for every dollar spent, with no category restrictions or spending caps. Digging deeper into the rewards program reveals that purchases through the Capital One Travel program earn a whopping 5x miles per dollar bonus!
- No Foreign Transaction FeesYour foreign transactions will not be charged a surcharge or fee if you use this card abroad.
- Flexible PaymentsYou have complete control over the payment due date with this Capital One credit card. Each month, your due date will be set to your chosen date.
- Free Employee CardsEmployee cards can be added to the credit account at no additional cost. This makes it easier for you to earn awards and bonus points.
- $95 Annual FeeCapital One waives the $95 annual fee for the first year. For those looking for a no-annual-fee card, this is not a good choice. However, you can go for the Spark Miles Select credit card, which is its no-annual-fee alternative at a lower rewards rate.
- No Special Reward CategoriesSpark Miles offers flat-rate miles for every transaction. As a result, you have little opportunity to earn big rewards in specific categories, as you can with several other business cards.
- High Regular and Penalty APRThe Capital One Spark Miles comes with a high regular APR of 20.99% for purchases and balance transfers. A very high penalty APR of 29.4% applies for all late payments.
- Limited Travel Partners for Rewards RedemptionOnly 17 travel partners have signed up with Capital One’s travel loyalty program for rewards redemption. This limits your chance to take advantage of interesting offers from other travel partners.
MoneyGeek re-ranks credit cards monthly and revises the lists every six months. The Capital One Spark Miles credit card is not among MoneyGeek's top-rated small business travel or rewards credit cards. However, you can find better alternatives by checking our list of the best small business cards for 2022.
Bonuses & Rewards Explained
For the right customer, the card can be highly beneficial. We've broken down some of the bonuses and rewards it provides for a better understanding.
After spending $4,500 in the first three months, all Spark Miles card holders receive 50,000 bonus miles. This is worth $500, which can be easily redeemed for your future purchases or bill payments.
Aside from the welcome bonus, the card has no annual fee for the first year.
You get two bonus miles for every dollar you spend. For bookings made through Capital One Travel, you earn 5x miles each dollar.
There are a lot of options for redeeming your miles for travel. You can book travel through your favorite travel agent and redeem equivalent points through Capital One’s Purchase Eraser program. You can also make a booking through the Capital One Rewards Center and redeem the miles equivalent to the travel ticket purchase. You can also exchange your miles for cash in the form of a check, account credit, gift cards and more.
TSA PreCheck or Global Entry Credit
You may be eligible for reimbursement of up to $100 for the TSA PreCheck and Global Entry programs. TSA PreCheck offers expedited security screening of those departing from U.S. airports and Global Entry provides expedited customs screening when you reenter the country from a foreign trip. You will be reimbursed in the form of a statement credit within two billing cycles, every four years.
Other Features Explained
In addition to the above-mentioned benefits, the Capital One Spark Miles card has a few more features that you may like to know about.
- Card FeatureDescription
- Account ManagersYou can have an authorized user manage your account on your behalf. The authorized user will get a card of their own but share your line of credit.
- Automatic PaymentsSay goodbye to paying interest and late fees! You can set up auto-pay so that you don't have to log in every month to make payments.
- Capital One Mobile AppYou can lock your card or an employee's card if it has been lost or stolen, receive transaction and security alerts, make payments, manage your rewards, set spending limits for employee cards, view statements and purchase records and more using the Capital One mobile app, which is available for both iOS and Android users.
"Capital One has 15 travel partners you can transfer rewards to in order to get even more value out of your rewards. The 50,000 early spend bonus is a great welcome offer to get you started. I particularly love this card for its flexible redemptions." - Alene Laney, Credit Card Journalist
Understanding the Fine Print
- Card FeatureAmount or Rate
- Annual Fee$95
- Cash Back Rewards
- Rewards Rate2 Miles per $1
- Airline Benefits
MoneyGeek’s credit card glossary can help you learn more about common credit card terms.
Although there is no annual fee for the first year when you use the Spark Miles credit card, there is a $95 fee after that.
Regular and Penalty APR
The Capital One Spark Miles carries a high APR on purchases and balance transfers at 20.99%. The interest rate on cash advances is higher, at 26.99%. In addition, there’s a high penalty APR of 29.4% for those making late payments.
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.
Foreign Transaction Fee
You can earn miles even while on a foreign trip as the Spark Miles credit card charges no fees on overseas transactions. This is applicable to transactions made online in a foreign currency as well.
Cash Advance Fee
If you withdraw cash from your credit account, expect to pay a fee of $10 or 3% of the transaction amount, whichever is greater, in addition to the high cash advance APR.
You need to compare the annual fees, APRs, rewards, benefits and drawbacks of various cards to find one that fits your needs. Look at your most recent monthly statements or visit your credit card company's website or mobile app for more information. You can also find these details in the credit card agreement database of the Consumer Financial Protection Bureau (CFPB).
Who Should & Shouldn’t Consider Capital One Spark Miles?
Other Considerations for Capital One Spark Miles
When applying for a credit card, it is important to understand all about the card and know your rights as a credit card user. If you're thinking about getting Capital One's Spark Miles card, keep the following points in mind. MoneyGeek helps you assess how it works for you if it's your only card or an addition to your wallet.
Things to Consider if This Will Be Your First or Only Credit Card
The Spark Miles credit card can be useful as your first or only credit card if you fly often, or if you travel abroad on a regular basis. With its no annual fee for one year and no foreign transaction fees ever, you can maximize your rewards without diluting them with fees. If you have multiple employee cards, you can easily reach its $4,500 threshold for earning 50,000 introductory bonus miles.
Things to Consider if This Will Be an Additional Card in Your Wallet
Because of its unlimited rewards earning potential and new cardholder perks, the Capital One Spark Miles credit card may be useful as an additional card in your wallet. MoneyGeek suggests pairing it with a card that has high-earning bonus categories, using Spark Miles for your other everyday purchases.
MoneyGeek uses a comprehensive rating approach to conduct an in-depth assessment of credit cards and companies. The technique includes gathering data from the Consumer Financial Protection Bureau's database, standardizing data points for card comparison, estimating average expenditure profiles, considering annual and promotional incentives of each card and calculating the three-year value of maintaining the card. Monthly card re-rankings and semi-annual card list updates are also part of the technique.
How Capital One Spark Miles Compares to Other Cards
The Capital One Spark Miles card is a great choice for many business cardholders. Take a look at how it compares to Chase Ink Business Cash, another highly popular small business card.
Quick Comparison of Capital One Spark Miles
Capital One Spark Miles
- Annual Fee: $0 intro annual fee for the first year and $95 thereafter
- Regular APR: 20.99%
- Rewards Rate: 2 miles per dollar
- Foreign Transaction Fee: None
- Best for: Business owners who frequently travel and make transactions abroad
Chase Ink Business Cash
- Annual Fee: None
- Regular APR: 13.24%–19.24%
- Rewards Rate: 1%–5%
- Foreign Transaction Fee: 3%
- Best for: Small business owners who spend a significant amount on office supplies and business services
Other Helpful Decision-Making Q&As
If you still have questions regarding the Capital One Spark Miles card, please see the questions we answered below. More information about the card is available on the Capital One website.
Still not sure about this card? Consider these options.
If you're still on the fence about getting the Capital One Spark Miles credit card, consider some of the alternative cards that offer better rewards. If you don't want to earn miles, go for a small business cash back or rewards card with no fees and high rewards rates.
Chase Ink Business Cash
Capital One Quicksilver Rewards
American Express Marriott Bonvoy Business Card
Capital One Quicksilver Student Rewards
American Express Delta SkyMiles Gold Card
Citi Simplicity Card
Chase Ink Business Preferred
PenFed Power Cash Rewards Visa Signature Card
Capital One SavorOne Rewards
Mastercard Titanium Card
Chase Ink Business Unlimited
Bank of America Travel Rewards for Students
Chase Marriott Bonvoy Bold
Capital One SavorOne Rewards for Students
American Express Delta SkyMiles Platinum Business Card
Chase British Airways Visa Signature
U.S. Bank Altitude Connect Visa Signature Card
Chase Sapphire Reserve
American Express Delta SkyMiles Platinum Card
Credit One Bank Platinum Rewards Visa
Chase Southwest Rapid Rewards Performance Business
Capital One Journey Student Rewards
American Express Delta SkyMiles Reserve Business Card
Chase Southwest Rapid Rewards Plus
Navy Federal Visa cashRewards Card
American Express Delta SkyMiles Reserve Card
Capital One Platinum Credit Card
Capital One Spark Cash Plus
Chase Southwest Rapid Rewards Premier
Capital One Spark Miles
Upgrade Bitcoin Rewards Visa
Capital One Spark Cash Select
American Express Gold Card
Chase Freedom Flex
Credit One Bank Platinum Visa
Capital One Spark Cash Select - Good Credit
Chase Southwest Rapid Rewards Premier Business
Capital One Venture X
Capital One VentureOne Rewards
Mastercard Black Card
American Express Hilton Honors Surpass Card
Citi Double Cash Card
Credit One Bank Platinum Visa for Rebuilding Credit
Chase Slate Edge
American Express Hilton Honors Business Card
Capital One Platinum Secured Card
Chase United Business
American Express Hilton Honors Card
Amazon Prime Rewards Visa Signature Card
Capital One QuicksilverOne Rewards
Chase United Club Infinite
Indigo Platinum Mastercard
American Express Plum Card
Wells Fargo Active Cash Card
Learn more about credit cards in general
- Capital One. "Credit Line Increase FAQ." Accessed September 4, 2021.
- Capital One. "Pre-Qualified vs. Pre-Approved Credit Card Offers." Accessed September 4, 2021.
- Capital One. "Spark Miles." Accessed September 4, 2021.
- J.D. Power. "While Many U.S. Credit Card Issuers Struggle to Meet Evolving Customer Expectations, Some Bright Spots Exist, J.D. Power Finds." Accessed September 4, 2021.
Editorial Disclosure: Opinions, reviews, analyses and recommendations are the author’s alone and have not been reviewed, endorsed or approved by any bank, credit card issuer, hotel, airline, or other entity.
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