As a business owner, you can earn serious perks by using a credit card that best fits your company’s needs. Whether you are just starting your company or have been established for some time, a business credit card can help streamline spending and earn you some rewards along the way.
One card to consider is the Capital One Spark Miles Select for Business (learn more). It’s a business credit card that comes with a $0 annual fee and rewards you with up to 5X miles every time you use the card.
Earn unlimited miles
- 20,000 mile welcome offer
- Unlimited 1.5X miles on every purchase
- 0% intro APR on purchases for 9 months
- Free employee cards
- Best for frequent business travelers
Who should get this card?
If you’re looking for rewards when making company purchases, this card is already off to a great start — Earn 5X miles on hotel and rental car bookings made through Capital One Travel, and an unlimited 1.5X miles on all other purchases made with all cards associated with the account. Even if you spend just $1,000 a month on the card, you can earn at least 18,000 miles a year.
This card could be especially helpful If you frequently travel for business, since you can earn miles toward flights, hotels, and other travel-related packages. You can even transfer miles directly to a number of airline partners.
Business owners who don’t travel throughout the year for work or don’t spend a lot on company expenses may not benefit much from this card. Businesses with large spending budgets may do better with other credit cards that earn at a higher rate. This is also true of businesses that spend large amounts of money in certain categories that are rewarded by other credit card rewards programs.
|Card Issuer||Capital One|
|Early Spend Bonus||Earn 20,000 miles after spending $3,000 in the first 3 months|
|Recommended Credit Score||Excellent, Good|
|Intro APR||0% intro APR on purchases for 9 months|
|Foreign Transaction Fee||None|
Top card benefits
- Solid early spend bonus: You can earn 20,000 miles after spending $3,000 in the first 3 months.
- Simple rewards rate and miles that don’t expire: You don’t have to do math to maximize your rewards with this card, since there's a simple rewards program for earning and redeeming. Earn 5X miles on hotel and rental car bookings made through Capital One Travel, and an unlimited 1.5X miles on all other purchases made with all cards associated with the account. Plus, your miles don’t expire, so they’re ready whenever you are.
- Intro APR on new purchases: This card comes with a generous 0% intro APR (annual percentage rate) for the first 9 months after opening an account. This perk could be especially useful for new business owners who anticipate some startup costs. You can charge items to the card and take several months to repay it interest-free.
- Flexible reward redemptions: Since your miles aren’t tied to one airline or hotel brand, you have the option to redeem your miles for most travel purchases. You could also redeem miles for a statement credit, check, gift cards, and more.
- Free employee cards and a $0 annual fee: You don’t need to pay more for employees to get business cards. And you get to reap their rewards as you rack up miles for their spending.
Earning & redeeming
Best ways to earn
With a 0% intro APR on purchases and the early spend bonus, it might make sense to quickly take care of major company spending once you’re approved for the card. After you spend $3,000 in the first 3 months, you can earn 20,000 miles.
If you spend $1,000 every month after, you’d earn at least 18,000 miles in a year. So the 20,000 miles is a major bonus — especially if you typically have a low monthly budget.
Paying for travel with your Capital One Spark Miles Select card has even bigger rewards. Any hotel and rental car bookings made through Capital One Travel earn 5X miles per dollar spent. If you travel extensively by air, however, another travel card may earn better rewards in all travel categories.
Maximize your redemptions
Though you can redeem your miles in a lot of different ways, trading them in for travel often results in the best deal.
For instance, you can use the Purchase Eraser tool to trade your miles for travel purchases at a rate of one cent per mile. Simply book travel as usual and use your card to pay, then log into your Capital One account to redeem your miles for the cost. You’ll receive a statement credit to cover your travel expenses.
You can also book travel directly through the Capital One site at a rate of one cent per mile. Booking options include flights, hotels, and rental cars.
Additionally, you can even transfer your Capital One miles directly to more than a dozen airline partners. However, miles transfer at a 2:1.5 ratio for most airlines, so you may lose some value with this option. That said, if you can find a killer deal on a flight, this could be a useful redemption method.
Of course, you can also redeem miles for cash back in the form of statement credits or checks, gift cards, and even merchandise. The exact redemption value for these options vary but are typically less than one cent.
What are Capital One Spark miles worth?
Redeeming your miles for travel via the Capital One site or with the Purchase Eraser tool offers a value of one cent per mile. If you transfer miles to airline partners, the exact worth of your miles depends on the transfer ratio and the price of the flight you book.
How do I use my Capital One Spark miles?
You can redeem miles on flights, hotels, rental cars, and more travel-related expenses. You can also redeem for cash or gift cards, but the redemption rate might be lower compared to travel rewards.
What kind of credit do I need to qualify for the Capital One Spark Miles Select for Business?
You need good-to-excellent credit to qualify for this business credit card. If you’re worried about getting approved, research the easiest business cards to get.
How often does Capital One increase your credit limit?
Your credit limit is determined by a credit check and a review of your application. The minimum credit line is $2,000. Cardholders can request a credit limit increase, which requires providing information like your total annual income.
Can I use Capital One miles on Southwest?
Southwest is not one of Capital One’s travel partners, so miles can’t be transferred to Southwest. However, travel can be booked with Southwest using the Capital One card and then you can redeem miles for a statement credit using the Purchase Eraser tool.
How do I use Purchase Eraser on the Capital One Spark Miles Select for Business?
After you’ve booked your travel as your normally would and pay using your card, head to CapitalOne.com or call the Capital One Rewards Center to use the Purchase Eraser. You’ll be able to redeem your miles and get an account credit for the purchase cost. You’ll need to do this within 90 days of the original purchase to get your credit.
Other cards to consider
Blue Business Plus Credit Card from American Express: This card also comes with a $0 (See rates and fees) annual fee and has a similar 0% intro APR for 12 months (See rates and fees).
You can also get 2X Membership Rewards points on business purchases up to $50,000 each year, and 1X points on purchases after that.
Capital One Spark Miles for Business: This card offers 5X miles on rental cars and hotels booked through Capital One Travel, and 2X miles on every purchase, every day. However, you’ll pay for that added earning potential with an annual fee of $95 (waived first year).
The early spend bonus is also larger, with the chance to earn 50,000 miles after spending $4,500 in the first 3 months If you spend more on your business or travel more for work, this could be a better option than the Spark Miles Select for Business.
Earn unlimited miles
Earn 20,000 miles after spending $3,000 in the first 3 months
See how these cards compare:
The Blue Business Plus Credit Card from American Express
- 0% intro APR on purchases
- 2X Membership Rewards Points on first $50,000 each year
- Global Assist hotline
- No annual fee
- Terms apply
- See rates and fees
Capital One Spark Miles for Business
- 50,000 bonus mile welcome offer
- Unlimited 2X miles on every purchase, every day
- Free employee cards
- No foreign transaction fees