Capital One® Spark℠ Miles Business Credit Card Review

With two sign-up bonus opportunities and two miles earned for every dollar spent, rewards will add up quickly with the Capital One® Spark℠ Miles card. Some benefits are missing, but overall the card is well-balanced and would be a good choice for many businesses.

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The Good

Two miles for every dollar spent

The Capital One® Spark℠ Miles card rewards cardholders with two miles for every dollar spent. Some business rewards credit cards offer bonus rewards on certain purchases, like office supplies or dining, but very few offer multiple rewards on every dollar spent. If you prefer a card with straightforward earning options, the Capital One® Spark℠ Miles card may be the right choice.

Access to two sign-up bonuses

The Capital One® Spark℠ Miles card provides two different ways for new cardholders to earn sign-up bonuses. If you spend $1,000 in the first three months of card ownership, you will receive 10,000 bonus miles. Bonuses like these are fairly common; however, the Spark℠ Miles card offers an additional 5,000 miles when you add your first employee to the account. With these two bonuses, you’ll be well on your way to earning big rewards.

Use miles on any airline

Although many business rewards cards allow you to redeem points/miles on different airlines, there are some that limit redemption to certain airlines. With the Spark℠ Card, you’ll have the freedom of using the airline of your choice with no blackout dates and no seat restrictions.

Fewer fees than many top cards

One benefit of the Capital One® Spark℠ Miles card is the lack of a foreign currency transaction fee. Many of the top business credit cards will charge as much as 3% per transaction on all foreign purchases. For those that travel internationally often, these fees can add up. In addition, the Spark℠ Miles card does not charge transfer fees or over-limit fees, two fees that are fairly common in other business rewards credit cards.

The Bad

Missing some benefits and insurance coverage options

The Capital One® Spark℠ Miles card provides access to some great benefits like $0 fraud liability, 90-day purchase protection, car rental coverage, and travel and emergency assistance. However, there are some missing insurance coverage options like roadside assistance and lost luggage insurance that some potential cardholders may value, while those that regularly entertain clients or employees may be disappointed by the lack of access to exclusive events.

Annual membership fee

The Capital One® Spark℠ Miles card charges an annual membership fee of $59 dollars. The fee is waived for the first year, giving you plenty of time to determine if this is the right card for your circumstances. Relative to the annual fees of other top business rewards credit cards, the $59 is on the low end. Regular card usage should cover the annual fee, but for those who aim to keep costs at an absolute minimum, it may be worth considering an alternative business card.

The Details

Rates and Fees

  • Annual Fee: $59 ($0 first year)
  • Balance must be paid in full each month: No
  • Cash Advance Fee: $10 or 3% per cash advance
  • Cash Advance Rate (APR): 24.9%
  • Foreign Currency Transaction Fee: None
  • Introductory Rate (APR): None
  • Standard Rate (APR): 13.9% - 20.9%* Variable

Penalty Fees

  • Default Penalty Rate (APR): 29.4%
  • Late Payment Fee: Up to $39
  • Minimum Interest Charge: $0.50
  • Over-Limit Fee: None
  • Returned Payment Fee: $39

Balance Transfer Fees

  • Balance Transfer Fee: None
  • Introductory Balance Transfer Rate (APR): None
  • Standard Balance Transfer Rate (APR): 13.9% - 20.9%* Variable

Rewards Program

  • Additional Rewards for Cell Phone Services: None
  • Additional Rewards for Dining: None
  • Additional Rewards for Gas: None
  • Additional Rewards for Internet Services: None
  • Additional Rewards for Office Supplies: None
  • Additional Rewards for Other: None
  • Additional Rewards for Travel: None
  • Bonus Rewards: 5,000 bonus miles when you sign up for one or more employee cards within the first 60 days
  • Rewards Earnings for All Purchases: 2 miles per $1
  • Sign-Up Bonus: 10,000 bonus miles after spending $1,000 within first 3 months
  • Type of Reward: Miles

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