The bottom line: This is a strong option for a small-business owner who wants a simple travel rewards program with no fee and a relatively high rewards rate. Bigger spenders could get a better return with a different card, though.
Capital One® Spark® Miles Select for Business
13.99% - 23.99% Variable APR
0% on Purchases for 9 months
Recommended Credit Score
- Earn unlimited 1.5X miles per dollar on every purchase, everywhere, no limits or category restrictions, and miles won't expire for the life of the account
- 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
- Earn 5X miles on hotel and rental car bookings through Capital One Travel℠ using a Spark Miles Select card
Pros & Cons
High rewards rate
No annual fee
No foreign transaction fee
For small-business owners seeking solid, flexible travel rewards without paying an annual fee, there's a lot to like about the Capital One® Spark® Miles Select for Business card.
The card offers a flat 1.5 miles back on purchases, although that rate rises considerably when you book hotels and rental cars via the Capital One Travel portal. You can redeem for things like flights, hotels or vacation packages, or you can transfer them to multiple travel partners. And unlike a lot of other business credit cards, there's an intro APR period, which is ideal if you need to finance purchases upfront.
Bigger-spending business owners, however, can find cards with more lucrative rewards.
Key features of Capital One® Spark® Miles Select for Business
Card type: Small business.
Annual fee: $0.
Sign-up bonus: 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.
Unlimited 1.5 miles per dollar spent on everything.
5 miles per dollar spent on hotel and rental car bookings through Capital One Travel.
Miles are worth a penny apiece when you:
Use Capital One's travel portal to book travel.
Book travel with your card elsewhere, then use Capital One's Purchase Eraser for statement credit against your travel purchase. Unlike the points or miles in programs tied to a specific airline or hotel chain, these rewards allow you to book how you want, with no blackout dates or exclusions. There's no minimum redemption amount for the Purchase Eraser option, and you can redeem miles for all or just part of an expense. You can get credit for a travel purchase for up to 90 days after it posts to your account.
You can also transfer miles to one of more than a dozen travel transfer partners, but not at a 1:1 ratio. (More on that below.)
Interest rate: 0% on Purchases for 9 months, and then the ongoing APR of 13.99% - 23.99% Variable APR.
Foreign transaction fees: None.
Balance transfer fee: None.
Employees receive free cards and earn rewards from their purchases; you can customize spending limits on employee cards and see all transactions.
Year-end itemized report of spending and easy to download purchase records.
Why you might want the Capital One® Spark® Miles Select for Business
Straightforward, no-fee rewards
For a no-fee card, earning 1.5 miles on your purchases — which also applies to inventory — is a solid rewards rate. And aside from the rich 5X back on hotel and rental car bookings through Capital One Travel portal, you don't have to worry about juggling any other bonus categories.
No-fuss reward redemption
You can redeem your miles on flights, hotel stays, vacation packages and more at a rate of 1 cent per mile, either by booking via Capital One’s travel portal or using the issuer's Purchase Eraser feature for travel statement credits. That means you’re not tied to any one airline, hotel chain or travel website, and there are no blackout dates. You can also choose to transfer miles to one of more than a dozen travel partners. Keep in mind, though, that for most partners, the transfer ratio is 2 Venture miles to 1.5 airline miles, so it may not be worth it.
The sign-up bonus is decent for a no-fee card: 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. And if you’re making a lot of big purchases for your small business, the card's 0% intro APR offer could be a useful way to finance a short-term loan: Cardholders get 0% on Purchases for 9 months, and then the ongoing APR of 13.99% - 23.99% Variable APR.
NO FOREIGN TRANSACTION FEES
Like all Capital One cards, the Capital One® Spark® Miles Select for Business has no foreign transaction fee. That's a definite plus if you travel internationally, and particularly if you buy inventory overseas. Many other cards charge a fee of around 3% on transactions outside the U.S. It's also a Mastercard, which means you likely won't run into problems with overseas acceptance.
Capital One® Spark® Miles Select for Business vs. other Spark cards
The Capital One Spark Business cards are split into two categories: cash back and travel.
Why you might want a different card
You can get Greater rewards elsewhere
If you’re a big spender looking for bigger rewards, it might be worth it to go with a card that charges an annual fee in exchange for a higher rewards rate. Such cards also tend to offer bigger sign-up bonuses. Consider, for instance, this card’s big brother, the Capital One® Spark® Miles for Business. It has an annual fee of $0 intro for the first year, then $95. But it earns double miles on purchases (plus the same 5X back on hotel and rental car bookings via Capital One Travel). Based on that 2X rate, the card would pay for its annual fee with $4,750 a year in spending. And if you spend more than $19,000 a year, the rewards you earn at the 2X rate would exceed a 1.5X rate, even taking into account the annual fee.
Plus, the sign-up bonus on the Capital One® Spark® Miles for Business is potentially quite rich indeed: 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.
Even if you're not a big spender, you can find no-annual-fee small-business cards with better rewards up to a cap. The $0-annual-fee American Express Blue Business Cash™ Card offers 2% cash back on eligible purchases on up to $50,000 in spending per calendar year (1% back after that). Terms apply.
Cash-back rewards are more flexible
The cash back you get with the above-mentioned American Express Blue Business Cash™ Card is more flexible than miles would be. But if that card's annual spending cap is a deal-breaker and you still want to avoid an annual fee, check out the Capital One® Spark® Cash Select for Business. The card offers 1.5% cash back on all purchases, a $0 annual fee and a sign-up bonus: Earn a one-time $200 cash bonus once you spend $3,000 on purchases within the first 3 months from account opening.
What's more, you'll get a decent introductory APR deal: 0% on Purchases for 9 months, and then the ongoing APR of 13.99% - 23.99% Variable APR.
There are no bonus rewards on actual travel spending
It's nice to not have to deal with bonus categories — but if you travel a lot, it would also be nice to get a little something extra for travel purchases. The Bank of America® Business Advantage Travel Rewards World Mastercard® credit card has a lot in common with the Capital One® Spark® Miles Select for Business: a $0 annual fee and a 1.5X rewards rate on purchases. But this card also gives you 3 points per dollar on airline, hotel and car rental purchases booked through the Bank of America® Travel Center. As with the Capital One card, points are worth 1 cent apiece when redeemed for travel expenses.
Explore other options on NerdWallet's best credit cards page.
Should you get Capital One® Spark® Miles Select for Business?
If you’re a small-business owner looking for a no-fee travel rewards card for yourself and your employees, the Capital One® Spark® Miles Select for Business card could be a good fit. But if you're a big spender or you would rather earn cash back than miles, you’d be better off with a different card.
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