Capital one spark miles splash

Make your miles last with Capital One® Spark® Miles for Business credit card

In the first part, we have covered Capital One® Spark® Classic for Business, now it’s time to get into the Capital One® Spark® Miles for Business credit card. Spark Classic for business is for those who love earning cashback but what about those who travel a lot for work?

Spark Miles is for small business travelers, it’s a card where you can collect your miles and redeem them against the wide range of perks.

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    HIGHLIGHTS

      How to stack up miles with Capital One® Spark® Miles for Business ?

      To accumulate miles all you have to do is charge your business purchases to your Capital One Spark Miles card. You get 2x miles for all your business spending. Cash advances, balance transfers, returns, credits and check used to access your account doesn’t earn you rewards.

      There are three ways to redeem your miles.

      • Purchase Eraser
      • Book New Travel
      • Points Transfer to an Airline Partner

      Purchase Eraser

      This feature offers flexibility in travel and hotel bookings. You are no longer bound to book from a particular site. You can book from any travel site and choose to redeem them within 90 days from the date the charge is posted to your account. 

      It’s not just your flights or rooms charges that can be redeemed against your miles. Your car rental fees along with your cab sharing charges can be adjusted using purchase eraser.

      To redeem your miles using purchase eraser you must log in to your Capital One account. Then go to your rewards page where you can find the redeem option. It will show you the miles required to redeem purchases. What’s great about this feature is that partial redemptions are also possible.

      Book New Travel

      For any upcoming business travels miles can be leveraged to complete the booking. A booking can be made either by login into the capitalone.com or by calling the rewards center. The miles shown for redemption factor-in fees, surcharges, and taxes.

      Points Transfer to an Airline Partner

      To get the most value out of your miles you can transfer them to a travel partner. Capital One Spark Miles can be transferred to 14 partners, wherein you can get 2:1.5 transfer ratio. To list a few of the travel partners to whom the miles can be transferred are Aeromexico, Air Canada, Air France, Etihad, Qantas, Emirates, JetBlue, and Singapore airlines.

      To use all your rewards from across credit cards, you can transfer points from multiple programs to these travel partners and pool your rewards to book a trip. This can be done as long as the travel partner is supported by your rewards program.

      Earning Intro Bonus with Capital One® Spark® Miles for Business

      To begin your travel journey, you can earn the one-time bonus of 50,000 miles by spending $4,500 on purchases within the first three months of opening your account. The 50,000 miles is worth $500 when you redeem it for travel.

      When you compare joining bonus requirement between Spark Miles for Business with Chase Ink business preferred, it’s hard to miss that the spending requirement is higher on the Chase card, where you must spend $5000 to earn the 80,000 points.

      No Foreign Transaction Fees

      The purchases you make abroad are not going to be charged foreign transaction fees. Foreign transaction fee ranges between 1%-3%, which is what you save when you use this card.

      Annual membership fee

      The annual fee is not charged to your account while you get used to this card the first year. Second-year onwards there is an annual fee of $95. If you are looking for a no annual fee alternate then the junior version of Spark Miles is worth considering which is Spark Miles Select. By opting for Miles select you would lose out on the miles you earn per dollar and the intro bonus, as both are lower on the Spark Miles.

      Global Entry / TSA PreCheck credit

      If you’re paying for your Global Entry application or TSA PreCheck form using your Spark Miles card then you can get a statement credit within two billing cycles for whichever program is applied for first. You are eligible for one statement credit for every four years for one of your accounts.

      Additional Employee cards and Accounting tools

      As a business owner, you may be required to authorize employees to make certain financial transactions on behalf of your company. You can get additional employee cards at no extra cost with your Spark Miles card.

      Besides, you can download spending reports for planning and budgeting purposes. Purchases records can also be downloaded and to sync with multiple formats such as Quicken, Quickbooks and excel.

      When you apply for Spark Miles you can get approved for Visa Business benefits or Visa Signature benefits.

      Visa BusinessVisa Signature benefits
      Purchase SecurityPurchase Security
      Extended WarrantyExtended Warranty
      Auto Rental Collision Damage WaiverAuto Rental Collision Damage Waiver
      Travel and Emergency AssistanceTravel and Emergency Assistance
       Travel and Accident Insurance
       Lost Luggage Reimbursement
       Price Protection

      These protections provide coverage to your purchases and can offer reimbursement on your travel. We are listing the common benefits covered by Visa here to know the details you can refer to your guide to benefits.

      Purchase Security benefits covers items which are purchased using your Visa Business card is protected against damage and theft for 90 days from the date of purchase.

      Extended Warranty gives an additional year of coverage on items where the original manufacturer’s warranty is three years or less. It is up to a maximum amount of ten thousand dollars per claim and fifty thousand dollars per cardholder.

      Auto Rental Collision Damage Waiver, as a primary cardholder, when you rent a vehicle for less than 31 consecutive days, your vehicle is covered under this benefit. While renting the charges must be paid using your visa business or visa signature business card. Some types of vehicles are not covered which are expensive, exotic, and antique. Also, few vans, trucks, limousines, motorbikes, and recreational vehicles are not covered.

      Travel and Assistance Waiver is available to cardholders 365 days and 24/7 through which you can get medical, legal referrals assistance and emergency message relay service.

      Drawbacks of Capital One® Spark® Miles for Business

      Capital One® Spark® Miles for Business has variable purchase APR, currently, it’s listed by Capital One as 19.24%, and they don’t seem to have introductory APR offers. If you remove cash using this card then immediately the cash advance fee will be applied.

      Conclusion

      Capital One® Spark® Miles for Business is for small business owners who would like to enjoy the benefits while traveling by earning miles instead of cashback. While the card may not have exclusive hotel and lounge benefits like a premium travel card, it is ideally suited to match business travel needs.

      To be approved for this card you must have an excellent credit score. By enrolling into the Visa SavingsEdge program you can maximize the potential of this card by getting discounts on fuel, dining, and electronics.

      To check out the third part of this series on Capital One® Spark® Cash for Business you may click here.

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