Is the Capital One Spark Miles for Business Worth Its Annual Fee?

High-spending business owners might find it easier to re-coup the annual fee in award travel.

Dustin WallerJan 18, 2021
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The Capital One Spark Miles for Business makes it easy for business owners to earn and redeem travel rewards while also enjoying a range of other valuable perks. But it comes with an annual fee: $0 intro for the first year, then $95.

Is it worth it? That depends on how you use the card and whether you can take full advantage of its strengths.

Here are some of the Capital One Spark Miles for Business card benefits that could make it worth the annual fee for your business.

Valuable perks of the Capital One Spark Miles for Business

The welcome offer

If you use your new Capital One Spark Miles for Business enough, you can access the 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.

2X miles on most purchases plus 5X miles on hotels and rental cars

Every dollar you charge for qualifying purchases will earn you 2x miles, unless you're purchasing hotel stays or car rentals through Capital One Travel, which will increase your earnings to 5 miles per dollar. The more you spend, the more miles you earn. And unlike some other cards, the Capital One Spark Miles for Business doesn’t deter you from spending a lot.

For example, the American Express Blue Business Cash™ Card earns 2% cash back, for up to $50,000 spent in a calendar year. But after you hit $50,000 in spending, your cash back rate is just 1%. Terms apply.

No caps on miles earning makes this card more valuable for businesses that charge well over $50,000 every year.

Flexible ways to use your miles

Book travel

The Capital One Spark Miles for Business gives you more control over how you redeem your rewards by offering several ways to use miles.

  • You can use the card to pay cash for travel, then use the Purchase Eraser to erase all or part of the charge at a rate of 1 cent per mile. So you can charge a $300 plane ticket to your card then get that $300 charge reversed by cashing in 30,000 miles.

  • You can use miles to pay for your travel by booking directly through the Capital One travel portal website, where you’ll also get a value of 1 cent per mile.

Nerdy tip: Your card’s 2x travel rewards are equal to 2% cash back when redeemed for travel expenses. There is no need to worry about complicated award charts or blackout dates found with other rewards programs. You can book your travel your way.

Transfer points

Capital One partners with more than 15 airline and hotel loyalty programs, including JetBlue, Air Canada and Accor Hotels, to let you transfer your Capital One miles. For some partners, 2 Capital One miles will get you 1.5 points/miles in your preferred loyalty program; with others, points transfer at a 1:1 or 2:1 ratio. Transfers can be a good option if you're shy a few miles or points for booking an award in another program.

Travel benefits

When you travel for business, time is money. So it’s a shame to waste it in long airport security lines. This card helps you move through the airport faster by paying you back for the application fee for TSA Precheck or Global Entry — up to $100 every four years. Just use the card to pay the application fee and you’ll be reimbursed.

If you use the card outside the U.S., you’ll pay no foreign transaction fees on your purchases. For business people who travel abroad regularly, the up to 3% fees other cards tack on to foreign purchases can add up. If you do a lot of international travel, the Capital One Spark Miles for Business’s no foreign transaction fee feature is like money in the bank.

Purchase protections

When you purchase eligible items with your card, you’re covered for 90 days for theft or damage to the item. Capital One’s “Purchase Security” feature will replace, repair or reimburse you up to $10,000 per claim and $50,000 per cardholder.

If you purchase an item with a manufacturer’s warranty of three years or less, Purchase Security will extend it for up to one additional year, with coverage of up to $10,000 per claim and $50,000 per cardholder.

The bottom line

For some business owners, the Capital One Spark Miles for Business is well worth the annual fee. If you spend enough to earn ample rewards, can earn the welcome bonus, find TSA Precheck or Global Entry valuable, and would like to save on foreign transaction fees, you’ll likely come out ahead with this card.

Owners of smaller businesses who won’t charge a lot of on the card should look into cards with lower or no annual fees, like the Bank of America® Business Advantage Travel Rewards World Mastercard® credit card.


How to Maximize Your Rewards

You want a travel credit card that prioritizes what’s important to you. Here are our picks for the best travel credit cards of 2021, including those best for:

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