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The Points Guy believes that credit cards can transform lives, helping you leverage everyday spending for cash back or travel experiences that might otherwise be out of reach. That's why we publish a variety of editorial content and card comparisons: to help you find a great card to turn your goals into reality.
Our site may earn compensation when a customer clicks on a link, when an application is approved, or when an account is opened with our partners, and this may impact how or where these products appear. While we don't cover all available credit cards, our editorial team creates and maintains all of the analysis of these cards, and our content is not influenced nor subject to review by any credit card company, bank or partner prior to (or after) publication. Please view our advertising policy and product review methodology for more information.
News
Here are the latest offers for Capital One's Spark business credit cards
Madison Blancaflor is the managing editor for TPG's content operations team. She focuses on helping TPG's broader editorial team bring news, features and advice to readers. She has nearly six years of experience covering the credit cards and travel industries.
October 21, 2020 • 7 min read
The cards we feature here are from partners who compensate us when you are approved through our site, and this may impact how or where these products appear. We don't cover all available credit cards, but our analysis, reviews, and opinions are entirely from our editorial team. Terms apply to the offers listed on this page. Please view our advertising policy and product review methodology for more information.Editorial disclaimer: Opinions expressed here are the author's alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.
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Quick summary
Several business cards offer either travel rewards or cash-back options, each with distinct redemption methods and benefits.
Travel-focused cards allow points to be redeemed for travel purchases or transferred to airline and hotel partners, while cash-back cards provide straightforward redemption as statement credits or checks.
Both travel and cash-back cards feature expanded purchasing power and no foreign transaction fees, appealing to a range of business needs.
Cards with a modest annual fee, waived the first year, tend to offer higher introductory bonuses and additional perks such as application-fee credits for expedited airport security programs.
What to consider
Some offers mentioned in the article are no longer available.
Travel rewards points are valued at 1.4 cents each as of June 2024 per TPG's valuations, making them potentially more valuable than cash-back for those who maximize transfer options.
Choosing between travel rewards and cash back depends on whether you prioritize flexible travel redemptions or straightforward cash value.
What you'll miss from the article
A detailed comparison of the pros and cons of each business card, including which types of business owners may benefit most from each option.
Generated by AI with support from our editorial team.
Update: Some offers mentioned below are no longer available. View the current offers here.
Capital One offers a number of Spark business credit cards, some focused on travel and some focused on cash back.
The Capital One Spark Miles for Business and Capital One Spark Miles Select for Business both reward cardholders with Capital One miles that can be redeemed for travel purchases as your statement or transferred to any of Capital One's travel partners. The Capital One Spark Cash for Business and Capital One Spark Cash Select for Business both reward cardholders with standard cash back.
All of the cards also come with some useful benefits, such as no foreign transaction fees. Most recently, Capital One added access to expanded purchasing power. This allows your business to spend above your usual limit and earn more rewards.
Let's dive into the current bonus offered across each of these cards:
The information for the Capital One Spark Miles Select for Business and Capital One Spark Cash Select for Business has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.
Capital One Spark Miles
Annual fee: $95, waived the first year
Current bonus: 50,000 miles once you spend $4,500 on purchases in the first three months
Current bonus: 20,000 miles once you spend $3,000 on purchases in the first three months
The Spark Miles Select is the no-annual-fee version of the Spark Miles, offering unlimited 1.5x miles on all purchases. The card does come with a lower sign-up bonus, worth $280* according to TPG valuations. The rewards you earn are considered full-fledged Capital One miles, too, meaning you can still use its transfer partners.
While most small business owners will get better value out of the Capital One Spark Miles (even with the annual fee after the first year), freelancers with minimal monthly budgets will enjoy the card's lack of an annual fee and simple earning structure.
Capital One Spark Cash
Annual fee: $95, waived the first year
Current bonus: $500 after you spend $4,500 on purchases within the first three months
If cash back is more your style, the Spark Cash offers unlimited 2% cash back on every purchase. There are no rotating or tiered categories to worry about, and you can use your cash back on more than just travel-related purchases. This card is best for business owners who are looking for a straightforward way to earn and burn rewards.
Capital One Spark Cash Select
Annual fee: $0
Current bonus: $200 after you spend $3,000 on purchases within the first three months
Similar to the Spark Cash, the Spark Cash Select rewards cardholders with cash back instead of miles. In exchange for no annual fee, you'll earn 1.5x miles and only a $200 sign-up bonus. This is a great option for low-budget businesses and freelancers who spend across a wide range of categories for business expenses, but consider whether you'll get more long-term value from the Spark Cash, even with the annual fee after the first year.
Should you apply for the Spark Miles or Spark Cash?
Because the annual fees are both waived in the first year, most businesses will be better off applying for the Spark Miles or Spark Cash over their no-fee Select counterparts. But should you get the Spark Miles or the Spark Cash?
The Spark Miles is geared to business owners who travel often; the Spark Cash is aimed at those who want cash-back rewards. The two are similar in their rewards structures and fees — with a few key differences. Here's a quick snapshot:
Spark Miles
Spark Cash
Sign-up bonus:
50,000 miles after you spend $4,500 in the first three months
$500 bonus after you spend $4,500 in the first three months
Rewards rate:
2x miles on all purchases
2% cash back on every purchase
Redemption options:
Redeem as a statement credit for travel purchases or transfer to one of Capital One's 13 airline or two hotel transfer partners
Redeem as a statement credit or a check
Annual fee:
$95, waived the first year
$95, waived the first year
Cash back is more flexible in what you can spend it on, but Capital One miles are worth more, according to TPG's valuations. This is because of your ability to transfer them to popular frequent flyer programs. This means you're getting a 2.8% return when you use the Spark Miles (compared to the flat 2% on the Spark Cash). The Spark Miles offers a TSA PreCheck/Global Entry application-fee credit (up to $100) that isn't available on the Spark Cash.
People chasing airline elite status may not want to book through a specific card's booking portal, but business owners who don't care about hotel status can book through the Capital One portal and maximize their earnings at the same time they're meeting minimum spend requirements.
*Bonus value is an estimated value calculated by TPG and not the card issuer. View our latest valuations here.
You can earn 5x on hotels worldwide, including the JW Marriott Phuket. (Photo courtesy of JW Marriott Phuket)
Bottom line
No matter which flavor of the Capital One Spark business cards you choose, you'll be getting bonus rewards on every single purchase. By and large, the Spark Miles and Spark Cash are the more valuable of the four — they both come with higher sign-up bonuses and better overall rewards structures. And because both waive the $95 annual fee in the first year, you'll have an entire year to try out the card before deciding whether the annual fee will be worth it.
Benji Stawski contributed to this post.
Comments
By commenting, you agree to our Community Guidelines to help create a positive space for conversation. The responses below are not provided or commissioned by the bank advertiser, our partners, or The Points Guy (“TPG”). They have not been reviewed, approved, or otherwise endorsed by any of these parties. All responses are submitted by individual contributors, and neither the bank advertiser, our partners, nor TPG are responsible for ensuring that all posts and/or questions are answered.
