The Capital One® Spark® Miles Select for Business is a $0-annual-fee credit card intended for small-business owners who travel frequently, but does that mean that it's the right card for you?
No fee doesn’t mean no risk. The purpose of rewards credit cards is to get the most value back for every dollar you spend. So if you’re using a card that isn’t well-suited to your needs and spending habits, you could potentially be costing yourself hundreds or even thousands of dollars compared to the money or points you would earn on a better card.
Here’s a look at the benefits and the drawbacks of the Capital One® Spark® Miles Select for Business so you can determine if it’s the right card for you.
Valuable perks of the Capital One® Spark® Miles Select for Business
Earn a one-time bonus of 20,000 miles - equal to $200 in travel - once you spend $3,000 on purchases within the first 3 months from account opening.
While this is a good sign-up bonus for a $0-fee card, you could potentially get an even higher one from another card.
» Learn more: The best no-annual-fee credit cards for business
For the most part, the Capital One® Spark® Miles Select for Business is a flat-rate earning card, offering 1.5 miles back for every dollar you spend on qualified purchases.
The card does have one bonus category: You earn 5x miles for all spending you do on hotel and car rental bookings made through the Capital One Travel portal. It also has no foreign transaction fee for purchases made overseas.
This means that the card makes sense if you’re a frequent international traveler or make a lot of purchases that don’t fall into traditional bonus earning categories.
However, if you don’t travel or if your spending is more focused, you might get greater value from a different card. For example, if food is a big spending category for you, you might be better off with the no-fee Chase Freedom Flex℠, which offers 5% cash back in rotating categories that you can activate and 3% unlimited cash back for money spent at restaurants.
» Learn more: What to know before you start earning Capital One miles
Free employee cards
If you have employees that need to make charges on the company’s dime, you can issue them credit cards attached to your account without paying an additional fee for each card. Of course, you still have to pay the bill, but this card lets you set spending limits to keep your employees’ charges in check.
If identity theft or credit card fraud is a major concern, the Capital One® Spark® Miles Select for Business offers an entire suite of security options. If you or your employee lose a card, you can instantly lock it from an app on your phone and make it unusable.
You also have the ability to sign up for fraud and security notices that will alert you anytime a suspicious purchase or unexpected charge shows up in your account. The card also provides purchase protection, so if a fraudulent charge is made to your card, you won't be responsible for the cost.
The bottom line
The Capital One® Spark® Miles Select for Business is a well-designed card for small-business owners who love to travel. If you find yourself frequently purchasing items or services that don't neatly fit in common business credit card spending categories, this flat-rate earning card might be for you.
It’s not the industry leader in any one category, but it does provide a well-balanced combination of perks that deliver strong value if you can fully take advantage of them. Compare its benefits to other no-fee cards and see if it makes sense for you.
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:
Flexibility, point transfers and a large bonus: Chase Sapphire Preferred® Card
No annual fee: Bank of America® Travel Rewards credit card
Flat-rate travel rewards: Capital One Venture Rewards Credit Card
Bonus travel rewards and high-end perks: Chase Sapphire Reserve®
Luxury perks: The Platinum Card® from American Express
Business travelers: Ink Business Preferred® Credit Card