Earn a simple 2x miles on all spending, and redeem for travel rewards.
- Get this card if you want a simple rewards structure for travel benefits.
- Pick something else if you want cash back or don’t want to pay an annual fee.
- Apply with a good to excellent credit score of 670 or higher.
| Product Name | Spark® Miles from Capital One® |
|---|---|
| Card Type | Visa |
| Annual Fee | $0 intro annual fee for the first year ($95 thereafter) |
| Standard Purchase APR | 19.24% variable |
| Intro Purchase APR | N/A |
| Standard Balance Transfer APR | 18.74% variable |
| Intro Balance Transfer APR | N/A |
| Cash Advance Rate | 25.24% variable |
| Cash Advance Fee | $10 or 3% of the cash advance amount, whichever is greater |
| Foreign Transaction Fee | None |
| Interest Free Period | Up to 25 days |
| Late Payment Fee | Up to $39 |
| Additional Cardholder Fee | $0 |
| Minimum Age | 18 years of age |
|---|
| Welcome Offer | Earn a one-time bonus of 50,000 miles - equal to $500 in travel - once you spend $4,500 on purchases within the first 3 months from account opening |
|---|---|
| Rewards | Earn unlimited 2 miles on every purchase for your business, with no blackouts or seat restrictions, and no minimum to redeem |
| Base Rewards | 2x miles |
| Rewards Points Expiry | Never |
The basics
The Spark® Miles from Capital One® doesn’t come with many benefits. However, it offers a simple 2x miles on all purchases, making it a good pick if your spending is spread evenly through many categories. Redeem your miles for travel statement credit or travel rewards like flights, hotels and car rentals. Additionally, the card comes with a good signup bonus: 50,000 bonus miles after you spend $4,500 on purchases within the first 3 months of opening your account.
Another pick for travel rewards
The perks
Annual fee: $0 for the first year.
Starting the second year, you’ll pay a $95 annual fee.
Signup bonus: 50,000 bonus miles.
When you spend $4,500 on purchases within the first 3 months of opening your account, you’ll earn 50,000 miles. According to Capital One, that’s worth $500 toward travel.
Earning 50,000 miles is a solid signup bonus for a business credit card, especially since the Spark® Miles from Capital One® offers a $0 intro annual fee for the first year, then $95.
Rewards: 2x miles on all spending.
You’ll earn 2 miles per dollar spent on all purchases you make with your card. This flat rate can be attractive if you don’t want to keep track of multiple reward tiers.
You can redeem your miles for statement credit or for flights, hotels, car rentals and more through Capital One’s Rewards Center. There’s no minimum to redeem your miles.
You’ll also like …
No foreign transaction fees.
You won’t incur fees when you use your card abroad or at foreign websites. Typically, providers charge a 3% fee each time you use your card for an international transaction. It doesn’t sound like much, but it can add up over a trip spanning several days.
Since the Spark® Miles from Capital One® comes with 0% foreign transaction fees, it’s an excellent choice for vacations or business trips.
Add employee cards at no extra cost.
You can add employees to your card account and earn rewards on their spending.
Travel benefits.
When you rent an eligible car with your Spark® Miles from Capital One® card, the vehicle will be covered against collision or theft.
Also, get access to Visa emergency services like legal or medical referrals, ticket replacement and other forms of travel assistance.
Purchase security and extended protection.
Eligible items you buy with your Spark® Miles from Capital One® are covered against theft or accidental loss. Also, enjoy extended warranties on eligible items.
What to watch out for
Intro annual fee expires after the first year.
The first year, you’ll pay a $0 annual fee. Starting the second year, you’ll start paying a $95 annual fee.
No intro APR.
You’ll pay a 19.24% variable APR on purchases and balance transfers from the start.
It hurts to pay late.
Making late or returned payments could saddle you with fees as high as $39. You could also get stuck with a penalty APR of 31.65% variable.
Compare business credit cards
What size business is the Spark® Miles from Capital One® good for?
Because the Spark® Miles from Capital One® offers flat rewards on all spending, it can be a good choice for businesses of all sizes. Specifically, your expenses needn’t be concentrated in specific categories for you to earn meaningful rewards.
Keep an eye on the card’s annual fee, which is $0 for the first year and $95 every year thereafter. To break even on the annual fee, you’ll need to earn 9,500 miles, which is worth $95 at the industry rate of 1 mile = 1 cent. At a rewards rate of 2x miles, you’ll earn them after spending at least $4,750 on purchases.
What should I know before I apply?
To apply for the Spark® Miles from Capital One®, you must be:
- At least 18 years old.
- A resident of the US or a US military location.
Information you’ll need
To complete the application, you’ll need to provide information about yourself and your business, including:
- Your name and residential address.
- Your Social Security number.
- Your email address, phone number and date of birth.
- Financial information like your annual income and your monthly rent or mortgage.
- The name of your business, its mailing address and its phone number.
- Your employee count, business type and business structure.
- Your years in business, annual business revenue and monthly business spending.
- Your tax identification number.
What credit score do I need?
You’ll have a better chance of being approved for the Spark® Miles from Capital One® if you apply with a good to excellent credit score of 670 or higher. If you have a healthy business and excellent credit, your likelihood of approval is strong.
Here are a few other factors that might affect your odds of approval:
- Hard pulls on your credit report. If you have several hard inquiries — or hard pulls — on your report, it could imply you’re having trouble managing your debt. Capital One might think you’re desperate for credit and may be less likely to take you on as a customer.
- Factors that tie into your credit score. Your credit utilization is a major factor Capital One considers. The bank prefers a customer with low balances relative to their credit limit. Having many new card accounts may be a red flag too, as it could indicate you’re desperate for credit. It may also give the impression that you’re a flighty customer who’s just hunting for signup bonuses.
Always consider your options and your financial situation before you apply for a credit card.
What do customers say about the Spark® Miles from Capital One®?
Many customers say they’re pleased with the rewards they earn from the Spark® Miles from Capital One®. Unhappy customers say they’ve encountered unhelpful customer service at Capital One.
As of June 2018, Capital One earns a Trustpilot score of 4.6 out of 10. Many negative reviews cite poor customer service for account issues such as bill pay and penalty fees. Other reviews say Capital One offers good cardholder benefits and friendly service. Overall, your mileage may vary with Capital One customer support.
The Capital One Financial Corporation earns an overall A+ rating from the Better Business Bureau.
How to apply for the Spark® Miles from Capital One®
- Go to the Capital One website and click Apply now.
- Complete the application with details like your name, address, annual income, Social Security number and business information.
- Review and submit your application.
How long will it take to get my Spark® Miles from Capital One®?
Because conditional credit approval is automated on the website, you may get a decision on your application within a few minutes.
After you’re approved, you’ll typically receive your card within 7 to 10 business days.
I got the card. Now what?
- Track your spending. Monitor your spending and payments online 24/7.
- Avoid fees. Avoid late fees of up to $39 by setting up automatic payments for billing statements.
- Earn more rewards with your employees’ help. Earn extra rewards by adding employees to your card account as authorized users.
- Contact customer service. Call Capital One at 1-800-867-0904 or by signing in to your Capital One account online if you run into any issues.
Bottom line
Consider picking up the Spark® Miles from Capital One® if you want travel rewards and your business spending is spread evenly throughout many categories. Since it offers 2x miles on all purchases, you don’t have to worry about keeping track of various reward tiers.
Interested in seeing what else is out there? Compare other business credit cards or visit our guide to business credit cards.
Frequently asked questions
Images: capitalone.com
