Capital One Spark Miles Select Review: Solid Travel Rewards With No Fee
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Our Take
3.7
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.
Quick Facts
Pros & Cons
Pros
High rewards rate
No annual fee
No foreign transaction fee
Cons
- None
Compare to Other Cards
Annual fee$95 | Annual fee$295 | Annual fee$695 |
Regular APR20.49%-25.49% Variable APR | ||
Intro APRN/A | Intro APRN/A | Intro APRN/A |
Recommended Credit Score |
Recommended Credit Score |
Recommended Credit Score |
Full Review
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.
Ongoing rewards: Unlimited 1.5 miles per dollar spent on everything.
Redemption options:
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 your miles to get reimbursed via a 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. You can redeem miles for all or just part of a travel expense within 90 days of it posting to your account.
You can also transfer miles to one of more than a dozen travel transfer partners, but often not at a 1:1 ratio. (More on that below.)
You can redeem miles for gift cards, cash back and more, but usually at a lower value per point, and we don't recommend it. If you expect you'll want cash back, consider a cash-back credit card.
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.
Other benefits:
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 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 redeeming miles 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 less than 1:1, so it may not be worth it.
Welcome incentives
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
Capital One business credit cards are split into two categories: cash back and travel.
Capital One Spark Cash Plus, annual fee of $150. | |
Sign-up bonus: Earn up to a $1,000 cash bonus; $500 once you spend $5,000 in the first 3 months, and $500 once you spend $50,000 in the first 6 months of account opening. | Rewards: 2% cash back on all purchases; 5% cash back on hotels and rental cars booked through Capital One Travel. |
Capital One Spark Cash Select - $500 Cash Bonus, annual fee of $0. | |
Sign-up bonus: Earn a $500 bonus when you spend $4,500 in the first 3 months of account opening. | Rewards: 1.5% cash back on all purchases; 5% cash back on hotels and rental cars booked through Capital One Travel. |
Capital One Spark Cash Select - 0% Intro APR for 12 Months, annual fee of $0. | |
Sign-up bonus: N/A. | Rewards: 1.5% cash back on all purchases; 5% cash back on hotels and rental cars booked through Capital One Travel. |
Capital One® Spark® Classic for Business, annual fee of $0. | |
Sign-up bonus: N/A. | Rewards: 1% cash back on all purchases. |
Capital One Spark Miles for Business, annual fee of $0 intro for the first year, then $95. | |
Sign-up bonus: 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. | Rewards: 2 miles per dollar spent on all purchases. |
Capital One® Spark® Miles Select for Business, annual fee of $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. | Rewards: 1.5 miles per dollar spent on all purchases. |
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. 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 (see rates and fees).
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 - $500 Cash Bonus. The card offers 1.5% cash back on all purchases, a $0 annual fee and a sign-up bonus: Earn a $500 bonus when you spend $4,500 in the first 3 months of account opening.
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.
