Here are the latest offers for Capital One’s Spark business credit cards
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Editor’s note: This post is regularly updated with new card details.
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.
Annual fee: $95, waived the first year
Current bonus: 50,000 miles once you spend $4,500 on purchases in the first three months
You’ll earn unlimited 2x miles on every purchase. Those miles can then be redeemed at a fixed-rate of 1 cent per point to “pay” for travel purchases going back 90 days on your statement, or transferred to one of Capital One’s airline or hotel partners. Because of this redemption flexibility, TPG currently values Capital One miles at 1.4 cents each. That makes the sign-up bonus worth up to $700*, based on TPG valuations, when you maximize your transfer strategy.
Cardholders also receive up to a $100 TSA PreCheck or Global Entry application fee credit once very four years.
Annual fee: $0
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.
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.
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.
Related: How to maximize Capital One miles
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.
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.
Featured image by The Points Guy.
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