Capital One Spark Miles Select review: Earn transferable miles with no annual fee
Editor's Note
Editor's note: This is a recurring post, regularly updated with new information and offers.
Capital One Spark Miles Select for Business overview
The Capital One Spark Miles Select for Business is a no-annual-fee business credit card that earns at least 1.5 miles per dollar on every purchase. If your business is searching for a card that earns simple rewards for travel, this may be the right card for you. Card Rating*: ⭐⭐⭐
*Card rating is based on the opinion of TPG's editors and is not influenced by the card issuer.
The Capital One Spark Miles Select for Business card is a solid option for small-business owners who want a card with no annual fee. This is not only a great card for the budget-conscious, but it's simple to use because it earns at least 1.5 miles per dollar everywhere. TPG recommends a credit score of 670.
Capital One miles are worth at least 1 cent each when you redeem them as a statement credit to cover a travel purchase but can be worth 1.85 cents (according to TPG's November 2024 valuations) if you transfer them to one of Capital One's 15-plus transfer partners.
Here's what to know about this card.
The information for the Capital One Spark Miles Select 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 Miles Select pros and cons
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Spark Miles Select welcome offer
New Spark Miles Select cardholders can earn 50,000 bonus miles after spending $4,500 in the first three months of account opening.
If you redeem your miles for travel purchases at a fixed value (1 cent each), this bonus is worth $500. However, the option to transfer Capital One miles to travel partners can bump up the value to TPG's November 2024 valuation of 1.85 cents each, increasing the bonus value to $925.
Related: The best credit card welcome bonuses of November 2024
Spark Miles Select benefits
The Spark Miles Select card is light on benefits compared to other travel rewards cards, but it does come with some travel protections and purchase protections. If you want more perks than that, you'll have to look elsewhere, but there's still plenty of value here for a no-annual-fee card.
This card also has no foreign transaction fees, which isn't common for a no-annual-fee card. If your business spends a lot on international travel, this is an essential perk.
Earning miles on the Spark Miles Select
The Spark Miles Select card earns 5 miles per dollar on hotels and rental cars booked through Capital One Travel, plus an unlimited 1.5 miles per dollar on every other eligible purchase.
Considering TPG's November 2024 valuation of 1.85 cents per mile, you get at least a 2.8% return on your purchases.
Since many business cards only earn bonus rewards in common business categories like advertising, shipping, travel and office supplies, this card is great for earning transferable miles for business expenses outside these categories.
However, if a large chunk of your business spending does fall into one of those categories, you'll want to look into one of the other best business credit cards.
Related: Who qualifies for a business credit card?
Redeeming miles on the Spark Miles Select
The easiest way to redeem Capital One miles is to redeem them as a statement credit for eligible travel purchases at a rate of 1 cent per mile.
According to Capital One, eligible travel purchases include purchases from airlines, hotels, rail lines, car rental agencies, limousine services, bus lines, cruise lines, taxis, travel agents, and timeshares.
These fixed-value redemption options are useful, but they almost always have a lower value than your transfer options.
Transferring miles on the Spark Miles Select
With the Spark Miles Select, you also have the option to be like TPG credit card editor Emily Thompson and transfer your Capital One miles to 15-plus airline and hotel partners. This ability to earn and redeem transferable miles is incredibly valuable for a no-annual-fee travel card.
You can get excellent value from your miles by transferring them to programs like Air France-KLM Flying Blue, Avianca LifeMiles and British Airways Executive Club.
Related: Redeeming Capital One miles for maximum value
Which cards compete with the Spark Miles Select?
If you want to earn a different set of rewards or spend enough money to justify a card with an annual fee, a different card might be a better fit.
- If you want to earn more miles on your purchases: The Capital One Spark Miles for Business earns 2 miles per dollar on all purchases, so you'll get a higher return for your spending. However, make sure you'll earn enough to justify its $95 annual fee ($0 introductory annual fee for the first cardmember year) before applying. To learn more, check out our full review of the Capital One Spark Miles for Business.
- If you want to earn Membership Rewards points: The Blue Business® Plus Credit Card from American Express has no annual fee (see rates and fees) and earns a flat two points per dollar on all purchases (up to $50,000 per calendar year, then 1 point per dollar). To learn more, check out our full review of the Amex Blue Business Plus card.
- If you want to earn Chase Ultimate Rewards points: The Ink Business Unlimited® Credit Card has no annual fee and earns an unlimited 1.5% cash back on all purchases. You can transfer these rewards to any of Chase's travel partners if you also have a card that earns transferable Chase Ultimate Rewards points. To learn more, check out our full review of the Ink Business Unlimited.
For additional options, please see our list of best business credit cards and best Capital One credit cards.
Related: The best business and personal credit card combinations
Is the Spark Miles Select worth it?
The Spark Miles Select allows small-business owners to earn rewards at a decent rate without worrying about justifying an annual fee. However, if you put enough spending on your business card to justify paying an annual fee, you're probably better off using a card with higher earning potential.
Related: How to apply for a Capital One business credit card
Bottom line
The Capital One Spark Miles Select for Business is a unique card that allows business owners to earn transferable rewards without paying an annual fee. That alone makes this card worthwhile for business owners who don't have enough expenses to justify paying the annual fee on a card with a slightly better earning rate.
But before you add this to your wallet, look at some of our other favorite business cards and choose one that fits your spending habits and goals.
Related: Who qualifies for a business credit card?
For rates and fees of the Blue Business Plus Card, click here.
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.