Capital One Spark Miles for Business

Rewards Rate

Welcome Bonus

This business credit card comes with a one-time welcome bonus of 50,000 bonus miles after you spend at least $4,500 on purchases within a 3-month period. It also comes with no annual fee for the first year.

APR

Max 26.24% Variable APR

Pro & Cons

• 50,000 miles bonus introductory offer
• Unlimited 2x miles on all business purchases and 5x miles with Capital One Travel.
• $0 annual fee for the first year.
• Custom spending summaries for simplified budgeting.

• $95 annual fee
• Excellent credit required

Capital One Spark Miles for Business

Capital One offers many business credit cards, including the Spark Miles for Business Credit Card. This particular card comes with unlimited miles on every business purchase you make. Due to its design, it can be especially useful if you travel often for business purposes.

Rewards Redemption

Points earned through the Capital One Spark Miles for business card do not expire unless the account is closed. To redeem your miles, you can:

• Sign into your account, go to the Rewards section, and select “Cover Your Travel Purchases.” This lets you redeem miles for previously made transactions.
• Call the Rewards Center and redeem your points within 90 days of making the travel purchase. The redemption will be posted to your account.
• Log into travel.capitalone.com and book a flight, car rental, or hotel. Then, use your miles to offset the expense.
• Request a check, account credit, or gift card.

Terms, Rates and Fees

The Spark Miles for Business Credit Card by Capital One offers a 26.24% variable APR on all purchases and transfers, regardless of credit score. Cash advances have a 32.24% variable APR and incur a 3% or $3 fee (whichever is greater).

If you make a late payment, you will be charged a 34.65% variable penalty APR and a late payment fee of up to $39.

This card has no annual fee for the first year. After that, you must pay $95 each year.

The minimum line of credit for this card is $5,000. The maximum credit limit depends on creditworthiness. The monthly minimum payment amount is $15 or 1% of your current balance plus any fees or interest (whichever is greater).

Maximize Benefits and Avoid Fees

• Take advantage of the welcome bonus: Spend at least $4,500 within 3 months of opening the account to get 50,000 bonus miles (estimated value: $500).
• Prioritize your miles reward: For an ongoing value, this card comes with 2x unlimited miles on any business-related purchase and 5x unlimited miles on purchases made through Capital One Travel. For example, if you spend $100,000 monthly using this card, you could earn up to 2,400,000 miles in rewards that year. This is roughly the equivalent of $24,000. Actual redemption value may vary.
• Pay off the entire balance: Although the variable APR can be high, paying off your balance every month can prevent interest charges.

How to Apply

1. On the Capital One official website, hover over “Credit Cards” and select “Business Rewards.”
2. From there, scroll down until you see Spark 2x Miles. Select it to be taken to the information page about this card.
3. Review the information and, when ready, click “Apply Now.”
4. The entire credit card application is on one page. In the first part, provide such personal information as your email address, phone number, legal name, date of birth, SSN or ITID, and residential address. You’ll also need to input details about your role in the business, your annual income, and your monthly mortgage or rent payment amount.
5. After that, be prepared to answer some questions about your business. This includes information about your business’s legal structure, name, address, and phone number. It also includes the business’s ownership type, age, industry, your EIN, annual business revenue, and related financial information.
6. Review the important credit card disclosures and accept them to continue. Review your information and submit the application.

Qualification Requirements

What Makes This Card Appealing?

The Capital One Spark Miles for Business Credit Card is a solid option for business owners who travel frequently for business purposes. It’s also a good option for businesses seeking credit cards for their employees.