Capital One Spark Miles Select for Business 20,000 Miles Bonus

Bankcheckingsavings has partnered with CardRatings for our coverage of credit card products. Bankcheckingsavings and CardRatings may receive a commission from card issuers.The Capital One Spark Miles Select for Business is a business credit card with a straightforward travel rewards program that earns miles on every purchase. The best part of all is that it doesn’t have an annual fee.

The Spark Miles Select is comparable to many other business travel cards. However, it’s worth noting that many competing cards carry annual fees ranging from less than $100 to more than $400. For a credit card with an annual fee, the Capital One Spark Miles for Business earns a higher 2X miles rate.

New applicants can earn a a one-time bonus of 20,000 miles once you spend $3,000 on purchases within 3 months from account opening.

Compared to the Spark Cash Select, which earns an unlimited 1.5% cash back on all purchases, the Spark Miles Select an unlimited 1.5X miles on all purchases. Since miles always have a fixed value of 1 cent apiece on travel expenses, this card effectively earns a 1.5% cash back rate when redeeming for travel. The only major difference is that miles are typically redeemed for travel while the Spark Cash Select’s earnings are redeemed for cash.

See our complete guide to Capital One Rewards/Miles.

Earning The Capital One Spark Miles Select Bonus

Take advantage of the Spark Miles Select card’s 20,000 bonus miles introductory offer. That’s an excellent bonus considering it comes with no annual fee.

To qualify, charge at least $3,000 to your card within the first 3 months of opening your account. Though that may sound much, here are some ideas on meeting the spending requirement:

Earn An Unlimited 1.5X Miles

All purchases on the Spark Miles Select earn an unlimited 1.5 miles per $1 spent with no caps or restrictions.

Since miles are worth $0.01 apiece at redemption, this is equal to a 1.5% cash back rate on all purchases.

However, on average, each Spark mile is worth up to $0.014 when you transfer them. That’s a good value considering the average across different rewards cards is just $0.01 per point.

Redeeming Rewards

Redeem accumulated miles on the Spark Miles Select for travel, cash, gift cards, merchandise, and general statement credits. However, values for non-travel redemptions vary widely and are subject to change. Therefore, it’s best to redeem your miles for one of two options listed below.

Use Capital One’s Purchase Eraser tool to offset travel purchases you’ve already made. Purchase Eraser is similar to a statement credit. It can be used for up to 90 days from the purchase date. Eligible travel purchases include airline flights, hotel bookings or car rentals. There’s no minimum redemption amount.

You can also use your miles to book airfare, hotels, car rentals, and other travel purchases directly through Capital One’s travel portal. If you redeem in this manner, there’s no set redemption minimum to worry about. Neither redemption method comes with blackout dates or seat restrictions.

Transfer Miles

Recently, Capital One has given the option to transfer your Spark Miles Select miles to a selection of airline partners:

Transfers are at a 2:1.5 (4:3) ratio for all partners. Emirates and Singapore have an exception of a lowered 2:1 ratio.

Once you transfer your points, there are many opportunities to earn even more value out of your points or miles. The cost in miles for flight bookings varies depending on the destination, time of travel, airline mileage program, etc. However, if you put in the time to search through different booking scenarios with different airlines, you could get much more value with your Spark Miles Select miles.

However, if you don’t plan on messing with transferring, the more straightforward Purchase Eraser redemption option is always available.

Cardholder Perks

The card benefits on the Capital One Spark Miles Select for Business offers several perks to help out when shopping. Purchase Security covers your items against theft and damage. Extended Warranty protects your purchases longer than usual. You’ll also get some travel protections with these cards, like Travel and Emergency Assistance. Auto Rental Collision Damage Waiver lightens the cost of your car rentals. Plus, Roadside Dispatch service for on-the-road emergency referrals, like tire changes and towing. Travel Accident Insurance and Lost Luggage Reimbursement service are also included. Some more perks for this card include:

• Free Employee Cards: Get an unlimited number of employee cards to distribute to your employees, and earn rewards every time they use them. You can set individual credit limits for the cards.
• 24/7 Concierge Service: The number on the back of your card can provide you non-emergency help with a variety of tasks. These include making travel arrangements, getting tickets to events or reservations at restaurants, and finding hard-to-find gifts.
• No Foreign Transaction Fees: Many credit cards carry a foreign transaction fee of about 3%. Thus, they can easily wipe out the value of any rewards you earn. With this card, you get to keep all the rewards you earn without paying that fee.
• Visa SavingsEdge: Get up to 15% off at merchants when you shop through the Visa SavingsEdge shopping portal. You’ll find deals at gas stations, hotel chains, restaurants, office supply merchants, tech websites, and more.
• Visa Signature Luxury Hotel Collection: Frequent travelers can get a variety of perks, discounts, and complimentary services at over 900 hotels around the world. This includes most of the top brands.

Conclusion

Although the Capital One Spark Miles Select for Business doesn’t offer the highest mile-earning rate or the best benefits, it’s a solid card for business owners who want are okay with a pretty bare-bones card. And, if you’re not particularly loyal to a certain hotel or airline brand, it’s hard to go wrong with this card. But if you’re looking for better rewards or you put your spending heavily on select business categories, see our list of credit card promotions today!

Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.Bankcheckingsavings has partnered with CardRatings for our coverage of credit card products. Bankcheckingsavings and CardRatings may receive a commission from card issuers.