Capital One Spark Cash Plus vs. Spark Miles for Business: Which is better for your business?
Editor's Note
Quick summary
The Spark line of business credit cards from Capital One is built for small-business owners craving rewards for everyday, non-bonus spending. The two cards in the family with annual fees — the Capital One Spark Cash Plus and the Capital One Spark Miles for Business (after the first cardmember year) — are both solid options.
If you're debating which one to apply for, ask yourself these two questions:
- Would I rather have cash to put back into my business or rewards to save up for a future travel redemption?
- How much effort am I willing to put into learning about loyalty programs and award redemptions?
The answers to these questions will help determine which Spark card is best for you. But regardless, both of these cards are on TPG's current list of best business credit cards and have a lot in common.
Let's take a closer look.
Related: 10 considerations for your small-business credit card strategy
Spark Cash Plus vs. Spark Miles for Business comparison
| Capital One Spark Cash Plus | Capital One Spark Miles for Business | |
|---|---|---|
| Annual fee | $150 | $95 ($0 introductory annual fee for the first year) |
| Earning rates | 2% cash back on all purchases, plus 5% cash back on hotels and rental cars booked through Capital One's travel booking site. | 2 miles per dollar on all purchases, plus 5 miles per dollar on hotels, vacation rentals and rental cars booked through Capital One's travel booking site |
| Welcome bonus | Earn $2,000 cash back after spending $30,000 in the first three months. Earn an additional $2,000 cash bonus for every $500,000 spent during the first year | Earn 50,000 miles (worth $925 based on TPG's November 2024 valuations) after spending $4,500 in the first three months after account opening |
| Employee cards | Free | Free |
Spark Cash Plus vs. Spark Miles for Business welcome offer
New Spark Cash Plus cardholders can earn $2,000 cash back after spending $30,000 in the first three months. Earn an additional $2,000 cash bonus for every $500,000 spent during the first year of cardmemebrship.
That's a nice return, though business owners with smaller budgets may find the spending requirement unachievable.
New Spark Miles cardholders can earn 50,000 miles after spending $4,500 in the first three months of cardmembership.
Per November 2024 valuations, TPG values Capital One miles at 1.85 cents apiece, which makes the welcome bonus on the Spark Miles card worth $925.
The icing on the cake is that with both of these cards, you'll also earn rewards while spending your way to the welcome bonus since you're getting at least 2% cash back (on the Spark Cash Plus) or 2 miles per dollar (on the Spark Miles) for all your purchases.
Winner: Spark Cash Plus. Its welcome offer is significantly more valuable, however small businesses may struggle to hit the spending requirement.
Related: Best ways to redeem Capital One miles
Spark Cash Plus vs. Spark Miles for Business benefits
Neither of these cards charges foreign transaction fees, which is handy if your business needs require that you travel internationally.
You can receive itemized year-end summary reports with both cards to help you plan your budget and prep for the upcoming tax season.
Additionally, the Spark Miles gives you an up-to-$120 credit for your Global Entry or TSA PreCheck fee.
Winner: Spark Miles for Business. It gets the edge here with its TSA PreCheck/Global Entry credit.
Related: Do I need a business to get a business credit card?
Earning rewards on the Spark Cash Plus vs. Spark Miles for Business
With the Spark Cash Plus, you'll earn 2% cash back on all purchases plus 5% cash back on hotels and rental cars booked through Capital One's travel booking site. That's a pretty standard return, so you can use this card to maximize non-bonus spending and feel good about it.
You can also get the card's $150 annual fee refunded every year you spend at least $150,000 on the card. That's a high spending requirement to meet, but if your business already spends that much organically, this is a nice benefit.
Note that the Spark Cash Plus is technically a charge card rather than a credit card, meaning you must pay your balance in full each month.
On the other hand, the Spark Miles earns 2 miles per dollar on everyday business purchases, plus 5 miles per dollar on hotels, vacation rentals and rental cars booked through Capital One's travel booking site.
Based on TPG's November 2024 valuations, that's a 9.25% return on eligible travel booked through Capital One's travel booking site and a 3.7% return on all other purchases.
Winner: Spark Miles for Business. Its higher return rate (based on TPG's valuations) wins out.
Related: 9 reasons to get a business credit card
Redeeming rewards on the Spark Cash Plus vs. Spark Miles for Business
The biggest difference between the two cards is the redemption options you'll get.
With the Spark Cash Plus, you'll earn cash-back rewards, which you can redeem as a statement credit, for a check or for gift cards.
With the Spark Miles, you can redeem your miles at a fixed value of one cent apiece by booking travel directly through Capital One's Travel or covering a previous travel purchase.
As with cash back, this redemption method is very simple — a plus if you prefer straightforward redemption options.
Winner: Spark Cash Plus. It has more redemption options.
Related: How to redeem cash-back rewards from your credit card
Transferring miles with the Spark Miles for Business
If you enjoy finding and booking high-value premium cabin awards, you can get even more value from your miles by transferring them to Capital One's 15-plus airline or hotel partners.
TPG managing editor for credit cards Matt Moffitt transferred 50,000 Capital One miles to Flying Blue to book a one-way business-class ticket on Air France from Munich to Los Angeles, with a free three-day stopover in Paris for the Olympics.
Winner: Spark Miles for Business. Since the Spark Cash Plus doesn't offer transfer partners, the Spark Miles wins here.
Related: How (and why) you should earn transferable points
Should I get the Spark Cash Plus or Spark Miles for Business?
The Spark Cash Plus and Spark Miles cards could both be great options for your small business. If you lean toward travel spending and are willing to spend time figuring out how to redeem miles for maximum value, your answer is the Spark Miles since it's a transferable miles-earning credit card. If not, you'll want to go with the Spark Cash Plus.
Bottom line
The Spark Cash Plus is a cash-back credit card that's solid for everyday business expenses but won't get you outsize value when it comes to travel. That's where the Spark Miles for Business comes in. Either of these cards could make sense for your business needs. It just depends on how you want to collect and redeem your rewards.
To learn more, read our full reviews of the Spark Cash Plus and Spark Miles for Business.
Learn more: Capital One Spark Miles for Business
Learn more: Capital One Spark Cash Plus
Related: Capital One Venture X vs. Venture X Business
For Capital One products listed on this page, some of the benefits may be provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply.