Here are the latest offers for Capital One’s Spark business credit cards

Feb 5, 2020

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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.

Let’s dive into the current bonus offered across each of these cards:

Capital One Spark Miles

(Photo by Eric Helgas for The Points Guy)
(Photo by Eric Helgas for The Points Guy)

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 5x miles on hotel and rental car bookings made with the card through Capital One Travel with the card, plus unlimited 2x miles on every purchase. Those miles can then be redeemed at a fixed-rate of 1 cent per point to “erase” travel purchases on your statement, or transferred to one of Capital One’s transfer partners. Because of this redemption flexibility, TPG currently values Capital One miles at 1.4 cents each. That makes the welcome 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.

Capital One Spark Miles Select

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 the same 5x miles on hotel and rental car bookings booked with the card through Capital One Travel, plus unlimited 1.5x miles on all other 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 utilize 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

(Photo by The Points Guy)

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.

Related reading: Who might be eligible for a small business card

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: 5x miles on hotels, rental cars booked with the card via Capital One Travel; 2x miles on everything else 2% cash back on every purchase
Redemption options: Redeem as a statement credit for travel purchases or transfer to one of Capital One’s 15 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.

The Spark Miles card also offers additional earning opportunities — 5x on hotels and rental cars booked with the card via Capital One Travel — on top of the 2x on everything else. The Spark Cash card only offers 2% back on all purchases. Since TPG values Capital One miles at 1.4 cents apiece, earning 5x on hotel spend means you’ll effectively be earning 7 cents per dollar in rewards on your hotel spending, which is a terrific return. The miles earned on the Spark Miles card are worth more because you have the ability to transfer them to travel partners, such as JetBlue, Air Canada’s Aeroplan, Avianca LifeMiles and more.

Related reading: 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 the $50,000 minimum spend requirement.

*Bonus value is an estimated value calculated by TPG and not the card issuer. View our latest valuations here. 

(Photo courtesy JW Marriott Phuket)
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.

Featured image by Eric Helgas for The Points Guy.

Ink Business Preferred℠ Credit Card

WELCOME OFFER: 80,000 Points

TPG'S BONUS VALUATION*: $1,600

CARD HIGHLIGHTS: 3 points per dollar on the first $150,000 in combined spending on travel, shipping purchases,  internet, cable and phone services, and advertising purchases made with social media sites and search engines.

*Bonus value is an estimated value calculated by TPG and not the card issuer. View our latest valuations here.

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More Things to Know
  • Earn 80,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening. That's $1,000 toward travel when you redeem through Chase Ultimate Rewards®
  • Earn 3 points per $1 on the first $150,000 spent on travel and select business categories each account anniversary year
  • Earn 1 point per $1 on all other purchases–with no limit to the amount you can earn
  • Points are worth 25% more when you redeem for travel through Chase Ultimate Rewards
  • Redeem points for travel, cash back, gift cards and more – your points don't expire as long as your account is open
  • No foreign transaction fees
  • Employee cards at no additional cost
  • $95 Annual Fee
Intro APR on Purchases
N/A
Regular APR
17.49% - 22.49% Variable
Annual Fee
$95
Balance Transfer Fee
Either $5 or 5% of the amount of each transfer, whichever is greater.
Recommended Credit
Excellent Credit

Editorial Disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

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