Capital One launches the Spark Travel Elite card for small businesses
Update: Some offers mentioned below are no longer available. View the current offers here.
Small-business owners looking to earn Capital One miles and leverage multiple travel perks will be excited to hear about the newest card available from Capital One. The Capital One Spark Travel Elite card is not currently available to the public, but those with a business relationship manager can apply to take advantage of a welcome offer that can be worth well over $4,000.
Let's take a look at the card's features, sign-up bonus and how you can apply.
The information for the Spark Travel Elite card has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.
Spark Travel Elite card details
The Spark Travel Elite card is a small-business credit card that is currently available only to those who are clients of Capital One Relationship Managers. Access to the card may expand in the future, however.
The current welcome offer is for up to 250,000 bonus Capital One miles in the first six months. That's broken up into earning 50,000 miles after spending $10,000 in the first three months and 200,000 miles after spending $50,000 in the first six months. TPG values Capital One miles at 1.85 cents apiece, making the total welcome offer worth over $4,600.
Cardholders will earn 10 miles per dollar spent on hotels and rental cars with Capital One Travel; 5 miles per dollar on flights booked with Capital One Travel; and 2 miles per dollar on all other purchases.
Cardholder perks include 10,000 bonus miles on each account anniversary, up to $300 in annual credits for bookings made through Capital One Travel, unlimited access to Capital One lounges, access to Priority Pass and Plaza Premium lounges and up to $100 in statement credits to reimburse your application fee for Global Entry or TSA PreCheck.
Plus, Capital One is also set to have its own luxury hotel program with the Premier Collection, launching before the end of 2022. Cardholders with access to this program will get special access at hotels that have been "hand-picked for exceptional quality," and enjoy benefits like free breakfast, room upgrades and on-property credits to use for free experiences or free food.
Small business-related perks include the ability to pay vendors through the card (even vendors who don't accept credit cards), receipt capturing on the Capital One app (coming later this year) and adding employee cards. Additionally, as long as your account remains in good standing, Capital One will not report your account opening or account activity to your personal credit report.
Related: Do business credit cards impact my credit score?
The Spark Travel Elite has a $395 annual fee. This card is a charge card, meaning it has no preset spending limit. However, limits on purchasing ability can be based on several factors, such as spending history and payment history. For those who want to make sure a transaction will go through, there is a tool on the website and the Capital One app to confirm spending power prior to making a large purchase.
Related: Business credit vs. charge cards: Which is right for you?
Bottom line
Interestingly, the Spark Travel Elite is very similar to the Capital One Venture X Rewards Credit Card (a personal credit card) in many ways.
Both cards offer a $300 annual travel credit for bookings through Capital One Travel and they have the same earning structure, annual fee, lounge access perks, anniversary bonus miles benefit and reimbursement perk for Global Entry or TSA PreCheck application fees.
The only difference is that one is a charge card for small businesses while the other is a credit card for personal use.
For small-business owners looking for travel perks and wanting to earn transferable miles with Capital One, speak to your Relationship Manager.