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Capital One® Spark® Miles for Business review
Last updated:
Earn a simple 2x miles on all spending, and redeem for travel rewards.
finder.com’s rating: 4.1 / 5
★★★★★
- 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.
$500
Welcome offer
Up to 5x
Miles
$0
Annual fee
for the first year ($95 thereafter)
20.99%
Purchase APR (variable)
Details
| Annual fee | $0 intro annual fee for the first year ($95 thereafter) |
|---|---|
| Welcome Offer | 50,000 miles after spending $4,500 in the first 3 months |
| Rewards | 5x miles on hotel and rental car bookings through Capital One Travel℠ and 2x miles on all other purchases |
| Purchase APR | 20.99% variable |
| Balance transfer APR | 20.99% variable |
| Recommended minimum credit score | 670 |
| Issuer | Mastercard |
Expert review
Review by
Jennifer Gimbel
jennifer.gimbel@finder.comJennifer Gimbel has over five years of experience informing editorial strategy at one of Disney’s digital media brands. Now as loans editor at Finder, she strives to create engaging, transparent content to help readers find products to meet their financial goals. On the weekends, you can catch Jenn at the dog park with her pup Olive or exploring the streets of Brooklyn — iced coffee in hand.
Expert review
The Capital One® Spark® Miles for Business is a solid travel credit card. It comes with a generous signup bonus of 50,000 miles — worth around $500 in travel purchases — and 5x miles on hotel and car rental bookings made through Capital One Travel. There’s a $0 intro annual fee for the first year, and no annual fee at all for additional employee cards.
International business travelers get to save money with 0% foreign transaction fees, car rental insurance, ticket replacement, travel assistance and more.
If you’re looking for a business credit card with a 0% intro APR period on balance transfers and purchases, however, consider other credit card options.
How to apply for the Capital One® Spark® Miles for Business
- Go to the provider's site and click Apply now.
- Fill out the application form.
- Review the form and submit.
What credit score do I need?
You’ll have a better chance of being approved for the Capital One® Spark® Miles for Business 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.
Card benefits
- Signup bonus. When you spend $4,500 on purchases within the first 3 months of opening your account, you’ll earn 50,000 miles.
- Rewards. You’ll earn 5x miles on hotel and rental car bookings through Capital One Travel℠, and unllimited 2 miles per dollar spent on all other 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.
- 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 Capital One® Spark® Miles for Business 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 Capital One® Spark® Miles for Business card, the vehicle will be covered against collision or theft. Also, get access to Mastercard 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 Capital One® Spark® Miles for Business 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 20.99% 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 29.4% variable.
What should I know before I apply?
To apply for the Capital One® Spark® Miles for Business, 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.
Compare business credit cards
What size business is the Capital One® Spark® Miles for Business good for?
Because the Capital One® Spark® Miles for Business 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.
Capital One® Spark® Miles for Business reviews and complaints
Many customers say they’re pleased with the rewards they earn from the Capital One® Spark® Miles for Business. Unhappy customers say they’ve encountered unhelpful customer service at Capital One.
The Better Business Bureau has accredited Capital One with a rating of A as of October 2020. However, it sports a 1.13 out of 5 when it comes to a customer rating from an average of nearly 500 reviews. It fares little better on Trustpilot, earning a 1.4 rating out of 5 as of October 2020.
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 Capital One® Spark® Miles for Business if you want travel rewards and your business spending is spread evenly throughout many categories, with accelerated rewards through Capital One Travel℠
Interested in seeing what else is out there? Compare other business credit cards.
Frequently asked questions
Images: capitalone.com
Credit card ratings
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Our team evaluates credit cards to determine their value against similar cards on the market.
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