Capital One Spark Miles Select for Business Review 2023

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Capital One credit cards that earn miles, like the Capital One Spark Miles Select for Business, are a great pick if you’re looking for the most flexibility from your rewards. This card is a solid choice for small-business owners, and you don’t even need a formal business structure to apply — even side gigs like driving for Lyft, delivering for DoorDash, or freelancing could qualify you for a small-business credit card.

Capital One Spark Miles Select for Business Review: Is It the Best Credit Card for You?

The Spark Miles Select Business Card doesn’t always get as much attention as flashier rewards business credit cards, like the similarly named Capital One Spark Miles for Business
or cards from other banks like the Ink Business Preferred® Credit Card and The Business Platinum Card® from American Express
.

As a no-annual-fee card, the Spark Miles Select Business Card doesn’t come with a ton of fancy benefits, and it normally offers a modest welcome bonus. But it’s just updated its welcome bonus offer to 50,000 miles after spending $4,500 on purchases within the first three months from account opening, putting it on par with some of the best small-business credit cards that charge an annual fee.

If you own a small business and want to earn miles for travel, this card is an affordable entry point — and the Capital One miles program is super easy to navigate. You’ll earn 1.5 miles per dollar on just about every purchase (except hotels and car rentals booked through Capital One Travel, which earns 5 miles per dollar). And you have plenty of options for redeeming your miles, from easily offsetting travel purchases made with your card to transferring rewards to airline and hotel partners for award travel.

Keep in mind that the best travel rewards credit cards — including many travel credit cards with no annual fee — come with stronger travel benefits than the Spark Miles Select Business Card. If perks like trip delay insurance, trip cancellation insurance, or primary car rental insurance are important to you, you’ll want to consider other cards.

We’re focused here on the rewards and perks that come with each card. These cards won’t be worth it if you’re paying interest or late fees. When using a credit card, it’s important to pay your balance in full each month, make payments on time, and only spend what you can afford to pay.

Capital One Spark Miles Select for Business Rewards

What is the Capital One Spark Miles Select for Business welcome bonus?

The new welcome bonus offer on the Spark Miles Select Business Card is 50,000 miles after spending $4,500 on purchases within the first three months from account opening. That’s worth $500 in travel (1 cent per mile) when you use the bonus for statement credits toward travel purchases made with your card, or when you redeem miles for travel booked through the Capital One Travel Portal.

However, it’s possible to get much more value from your miles when you convert them to airline miles or hotel points with Capital One’s transfer partners. Based on Insider’s points and miles valuations, the bonus is potentially worth around $850 in travel when you redeem this way.

How to earn rewards from Capital One Spark Miles Select 

The Spark Miles Select Business Card has a very straightforward earning structure. Cardholders earn 5 miles per dollar on hotels and car rentals booked through Capital One Travel, and 1.5 miles per dollar on other purchases

Earning 1.5x miles on almost everything is a respectable rate, and it’s convenient because you won’t have to keep track of multiple bonus categories or spending limits. That’s what makes this card good for folks who spend a lot outside of typical bonus categories (like dining, gas, internet, or office supplies) — you’ll earn the same flat rewards rate on most purchases.

How to use rewards from the Capital One Spark Miles Select for Business

The easiest way to use Capital One Spark Miles Select for Business rewards is to redeem miles at a rate of 1 cent each to get reimbursed for any travel purchase made with your card. You get the same rate of return if you redeem Capital One miles for flights, hotels, or rental cars through the Capital One Travel Portal — and in either case, you won’t have to worry about blackout dates or navigating complicated award charts.

But if you’re willing to do a little more legwork, transferring miles to Capital One’s transfer partners can be much more lucrative. We value Capital One miles at an average of 1.7 cents apiece, and you could even get a higher rate if you book expensive business-class award flights or upscale hotels. 

You can also redeem Capital One miles for gift cards (1 cent per mile) or for cash back, but the latter option should be avoided. When you use miles for cash back, you’ll get a value of just 0.5 cents per mile, which is a very poor rate of return. If you prefer earning cash back, be sure to check out our guide to the best cash-back business cards for better options.

Capital One Spark Miles Select for Business Benefits and Features

While fairly light on benefits, the Capital One Spark Miles Select for Business comes with a few perks that can save you money, give you peace of mind, or make it easier to manage your small business finances.

Car rental insurance

When you use your Spark Miles Select Business Card to pay for your rental car and decline the rental agency’s collision damage waiver (CDW), you’re eligible for secondary car rental insurance. This type of insurance only pays for amounts not covered by your own personal or other car insurance.

Roadside assistance

If you’re on the road and need help, a roadside assistance hotline is available for cardholders to arrange services like towing and jumpstarting for a flat fee.

Extended warranty

When you pay for an eligible item with your card, you can qualify for extended warranty and protection. This is particularly helpful if your business spends a lot on pricey equipment or tech gear.

Small-business benefits

Cardholders get access to features that can make keeping track of business expenses and managing finances easier, including:

• Free employee cards and the ability to customize spending limits
• Fraud and security alerts
• Card lock feature to use if the primary cardholder or employee cards are lost, misplaced, or stolen
• $0 fraud liability
• Year-end summaries to make budgeting and tax time easier
• Download purchase records into Quicken, QuickBooks, and Excel
• Virtual card numbers to make online purchases safer by not exposing your card number to potential fraud

Capital One Spark Miles Select for Business Annual Fee and Other Costs

The Spark Miles Select Business Card doesn’t charge an annual fee, so it’s free to keep and use year after year. It’s also a good choice if you do business overseas, because it doesn’t add foreign transaction fees, which can be 3% or more on some no-annual-fee business cards.

However, this is not a good card if you think you’ll carry a balance, because it charges a 17.99% – 23.99% variable APR APR. If you think you might need to carry a balance, consider one of the best zero-interest credit cards with an intro 0% APR instead.

As with most other cards, there are optional fees that apply in certain circumstances, including:

• Cash advance fee: Either $3 or 3% of the amount of each cash advance, whichever is greater
• Late payment fee: Up to $39

How the Capital One Spark Miles Select for Business Compares

Spark Miles Select vs other Capital One small-business cards

Capital One Spark Miles Select vs other no-annual-fee business credit cards

Capital One Spark Miles Select for Business Frequently Asked Questions (FAQ)

Methodology: How we reviewed the Capital One Spark Miles Select for Business

We evaluated the Capital One Spark Miles Select for Business in relation to Capital One’s other small-business cards, as well as competing no-annual-fee business cards from other banks. Our credit cards team looked at numerous factors, including:

• Ease of use — Is the card’s rewards program easy to understand? Are there lots of ways to redeem your rewards, or are you locked into just one or two options? 
• Earning potential — Does the card have generous earning rates, particularly if there are bonus categories? Do these categories make sense for small-business owners, and are any capped at a maximum spending limit? 
• Benefits — Are there perks that are appealing to business owners, particularly travel and purchase protections? Does the card offer tools to make running a small business easier, like expense tracking or employee card limits?
• Fees — Are there extra charges to be aware of, beyond an annual fee? These could be things like foreign transaction fees, a high APR, or fees for cash advances and balance transfers. If there is an annual fee, is it justified based on the card’s benefits?

For a closer look at Insider’s methodology, read about how we rate credit cards.