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 25.99% Variable APR

Pro & Cons

• One-time bonus of 50,000 miles
• Earn unlimited miles on business purchases and transactions made through Capital One Travel
• $0 annual fee (first year only)
• Year-end summaries and purchase records

• $95 annual fee
• Excellent credit required
• High variable APR

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 when you made 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 comes with a 25.99% variable APR on all purchases and transfers, regardless of credit score. Cash advances have a 31.99% APR and come with a 3% or $3 fee (whichever is greater).

There’s a 34.40% penalty APR that occurs if you make a late payment. There’s also a late payment fee of $39.

For the first year, this card comes with no annual fee. After that, you must pay $95 each year.
With this card, you have a minimum credit line of $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: $500). This is a first-year value.
• 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 a month using this card, you could earn up to 2,400,000 miles 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

• On the Capital One official website, hover over “Credit Cards” and select “Business Rewards.”
• From there, scroll down until you see Spark 2x Miles. Select it to be taken to the information page about this card.
• Review the information and, when ready, click “Apply Now.”
• 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.
• 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.
• Finally, look over the important credit card disclosures and accept them to continue. Review your information and submit the application.

Qualification Requirements

• Must be the owner of an active business
• Must be 18 years of age or older
• Must have a residential address within the United States or a U.S. military location
• Must have excellent credit and verifiable annual revenues

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.