Lesser-known perks of the Capital One Spark Miles for Business

Oct 25, 2019

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Apply here for the Capital One® Spark® Miles for Business to earn up to 200k miles.

We’ve seen a number of flashy high-value sign-up bonuses recently, especially from business credit cards, but none larger or more rewarding than the two-tiered bonus currently available on the Capital One® Spark® Miles for Business.

One year after Capital One cemented its place as one of the most rewarding credit card issuers by adding airline transfer partners to its Spark Miles and Venture Cards, the issuer is bringing back the same two-tiered bonus it used to launch the festivities last year. Now for a limited time only, you can earn up to 200,000 miles by applying for the Spark Miles for Business card.

The bonus is broken into two tiers: earn 50,000 miles after spending $5,000 on purchases in the first three months and an additional 150,000 miles after spending $50,000 total on purchases in the first six months. Based on TPG’s valuation of Capital One miles at 1.4 cents each, the full bonus is worth $2,800. However, since the Spark Miles card earns 2x miles on all purchases, you’ll really walk away with a whopping 300,000 miles after completing both spending tiers.

Obviously, with a card like this, a six-figure sign-up bonus is the banner headline meant to pique your curiosity. The Spark Miles has no foreign transaction fees, and the $95 annual fee is waived for the first year. While this card doesn’t have as many perks as pricier premium credit cards, there are a few benefits that might be of interest to business owners. Today we’ll take a look at some lesser-known benefits of the Spark Miles for Business.

Free employee cards

For many businesses, $50,000 is a lot of money to spend in six months. One way to hit that mark even faster and to continue racking up rewards long past the sign-up bonus is by adding employee cards. Thankfully, Capital One lets you add free employee cards to the Spark Miles for Business, giving you more flexibility over how you manage your cash flow and more opportunities to earn rewards.

With a consistent 2 miles per dollar on all purchases, the Spark Miles earns about 2.8% back, making it a very compelling choice for everyday, non-bonus spending. Of course it’s possible to get a much higher return if you redeem your miles for premium cabin travel through programs like Avianca LifeMiles or Etihad Guest, but 1.4 cents per point is a helpful baseline to think about.

Sync your transaction history to Quickbooks and Excel

The sign-up bonus alone makes it obvious that Capital One is marketing this card toward higher-spending businesses, and the more money you have flowing in and out of your accounts over the year, the more carefully you’ll need to keep records to prepare for tax season.

Capital One wants to make this process as easy as possible. In addition to automatic fraud alerts and zero liability if your card is lost or stolen, you can get customized itemized spending reports each quarter and easily download and export your transaction history to multiple platforms including Quicken, Quickbooks and Excel.

Enroll in Visa SavingsEdge

From Amex Offers to Chase Offers (even Priority Pass is getting in on the action), we’re seeing more and more loyalty programs increase their value proposition by adding additional money-saving offers. With your Capital One Spark Miles for Business, you’ll be eligible to enroll in the Visa SavingsEdge program.

You must enroll your card at this link to take advantage of the offers, but once you do so you’ll automatically be able to earn cash-back rewards when shopping at popular merchants. TPG contributor Katie Genter was even able to stack a Visa SavingsEdge offer with a cash-back portal and holiday sale to buy a $1,300 Lenovo laptop for only $635.

Primary car rental insurance

While many credit cards offer some form of rental car insurance, the Spark Miles for Business is one of the few to offer a primary collision damage waiver, which is important because it kicks in before your own personal insurance policy. Simply charge your entire rental to your Spark Miles card and decline the rental company’s collision damage waiver, and you’ll be covered for damage due to collision or theft. As with any insurance policy, there are some exclusions, so make sure to check out the full terms and conditions especially if you’re renting an exotic or antique car, a van or other large vehicle, or are renting in a foreign country.

Extended warranty and purchase protection

If you’re using the Spark Miles as your businesses main credit card, it’s likely that you’ll be making some pretty important purchases with it. You can rest assured knowing that Capital One will double the time period of an eligible U.S. manufacturer’s warranty, giving you up to one additional year on warranties of three years or less. This benefit is capped at $10,000 per claim and $50,000 per card holder.

If an item you purchase is stolen or damaged within 90 days after purchase, you may be eligible to have it replaced, repaired or reimbursed. This benefit is also capped at $10,000 per claim and $50,000 per card holder.

Bottom line

For a card with a very reasonable $95 annual fee (waived for the first year), the Spark Miles for Business doesn’t have a whole lot of fancy perks weighing it down and driving up its cost.

What it does have, in addition to a massive, limited-time, up to 200,000-mile sign-up bonus, is a small but valuable list of benefits that can help you manage your businesses finances more efficiently, and protect you from loss due to theft or damage. While you obviously hope to never have to use these insurance benefits, even a single use would more than offset the annual fee.

Apply here for the Capital One Spark Miles for Business to earn up to 200k miles.

Capital One® Spark® Miles for Business

LIMITED TIME OFFER: Earn up to 200,000 bonus miles with this business card, plus 5x miles on hotels and car rental booking through Capital One Travel, and 2x miles on all other purchases.

Apply Now
More Things to Know
  • Limited Time Offer: Earn up to 200,000 bonus miles worth up to $2,000 to spend on travel—flights, hotels and more
  • Earn 50,000 bonus miles when you spend $5,000 in the first 3 months and earn 150,000 bonus miles when you spend $50,000 in the first 6 months of your account opening
  • Earn unlimited 2X miles per dollar on every purchase, everywhere, no limits or category restrictions, and miles won't expire for the life of the account
  • Earn 5X miles on hotel and rental car bookings through Capital One Travel℠ using a Spark Miles card
  • Transfer your miles to 10+ leading travel loyalty programs like JetBlue™, Air Canada, and Emirates™
  • Redeem your miles instantly for any travel-related purchases, from flights and hotels to ride-sharing services
  • Fly through security with one statement credit for either the $85 TSA Pre✓® application fee or the $100 Global Entry application fee
  • $0 intro annual fee for the first year; $95 after that
Intro APR on Purchases
N/A
Regular APR
18.74% (Variable)
Annual Fee
$0 intro for first year; $95 after that
Balance Transfer Fee
N/A
Recommended Credit
Excellent, Good

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