Money Analysed

Maximizing Rewards and Travel with Capital One Spark Miles Select for Business

Capital One Spark Miles Select for Business: The Ultimate Business Credit Card for Rewards and Travel

If you’re a small business owner, you’re always looking for ways to save money and make the most out of your expenses. One way to do that is by using a business credit card that gives you rewards you can use towards travel, which can help you cut down on expenses and allow you to take your business further.

Capital One Spark Miles Select for Business is one of the most popular business credit cards out there, and for good reason. Here’s everything you need to know about it.

Card Benefits and Eligibility

Capital One Spark Miles Select for Business is a credit card designed specifically for small businesses. This means that it comes with benefits that are tailored to help small businesses thrive.

Here are some of the benefits you can expect with this card:

– Rewards: Capital One Spark Miles Select for Business offers rewards in the form of miles. You can earn 5X miles per dollar spent on hotel bookings and rental car bookings through Capital One Travel, and 1.5X miles per dollar on all other purchases.

Additionally, there’s an early spend bonus of 50,000 miles if you spend $4,500 within the first three months of opening the account. – Travel benefits: Since this is a travel rewards card, you can use your miles to book travel.

You can also transfer miles to any of Capital One’s airline partners, which include popular airlines like JetBlue, Air Canada, and Emirates. – No annual fee: This card has no annual fee, which means you can enjoy the rewards without having to pay to use the card.

– Free employee cards: You can add employee cards to your account at no extra cost and earn rewards on their purchases. To be eligible for this card, you must have excellent credit, which generally means a credit score of 700 or higher.

Card Basics and Fees

While the benefits of this card are great, it’s also important to know the basics and fees associated with it. Here’s what you need to know:

– Annual fee: As mentioned before, there is no annual fee for this card.

– Credit score: To be eligible, you need to have an excellent credit score of 700 or higher. – Intro APR on new purchases: This card offers a 0% intro APR on new purchases for nine months.

After that, the APR ranges from 17.99% to 23.99%, depending on your creditworthiness. – Foreign transaction fee: There’s no foreign transaction fee, which means you can use this card for purchases outside the United States without incurring extra fees.

Top Card Benefits of Capital One Spark Miles Select for Business

Early Spend Bonus

One of the best benefits of this card is the early spend bonus. If you spend $4,500 within the first three months of opening the account, you’ll earn a bonus of 50,000 miles.

That’s equivalent to $500 in travel rewards, which can go a long way towards your next business trip. Simple Rewards Rate and Miles that Don’t Expire

Another great benefit of this card is the simple rewards rate.

You’ll earn 5X miles per dollar spent on hotel bookings and rental car bookings through Capital One Travel, and 1.5X miles per dollar on all other purchases. Plus, your miles never expire, which means you can accrue as many as you’d like and use them whenever you’re ready.

Intro APR on New Purchases

If you need to make a big purchase for your business, you can take advantage of the nine-month 0% intro APR on new purchases. This can allow you to spread out the cost of the purchase without incurring finance charges, which can help you save money in the long run.

Flexible Reward Redemptions

Capital One Spark Miles Select for Business offers flexible reward redemptions, which means you can use your miles in a variety of ways. You can redeem them for travel, statement credit, gift cards, and more.

Plus, you can transfer your miles to any of Capital One’s airline partners for even more options. Free Employee Cards and a $0 Annual Fee

Finally, this card offers free employee cards, which can help you earn rewards faster.

Plus, there’s no annual fee, which means you can enjoy the benefits without spending extra money. In conclusion, Capital One Spark Miles Select for Business is a great option for small business owners who want to earn rewards on their business expenses while also having the flexibility to use those rewards for travel or other options.

With a simple rewards rate, an early spend bonus, and no annual fee, this card is a great option for business owners who want to save money and earn rewards.

Earning and Redeeming Miles with Capital One Spark Miles Select for Business

If you’re a small business owner who wants to earn rewards on your purchases, then Capital One Spark Miles Select for Business is a great option to consider. This credit card offers a variety of ways to earn miles, as well as flexible redemption options.

Here’s everything you need to know to earn and redeem your miles.

Best Ways to Earn

There are several ways to earn miles with Capital One Spark Miles Select for Business. Here are some of the most common ways:

– Early spend bonus: If you spend $3,000 within the first 3 months of opening the account, you’ll earn a bonus of 20,000 miles.

This is a great opportunity to earn a significant number of miles right off the bat. – Monthly budget: One way to earn a large number of miles over time is to use the card for your monthly budget and pay it off in full each month.

This way, you can earn miles on every purchase without carrying a balance and incurring interest charges. – Air travel: If you travel frequently, booking your flights through Capital One Travel can help you earn 5X miles per dollar spent on air travel.

You’ll also earn 1.5X miles per dollar spent on all other purchases.

Maximize Your Redemptions

Once you’ve earned your miles, it’s time to redeem them. Here are some of the best ways to maximize your redemptions:

– Travel rewards: Using your miles to book travel through Capital One Travel is one of the best ways to maximize their value.

You can also transfer your miles to Capital One’s airline partners for even more options. – Capital One site: Another way to maximize your redemption value is to use the Capital One site to book travel.

This allows you to use your miles to book flights, hotels, and more at a good redemption value. – Transfer ratio: If you choose to transfer your miles to an airline partner, be sure to check the transfer ratio.

Some partners may offer better ratios than others, which can help you get more value out of your miles. – Flight bookings: If you’re booking a flight, be sure to check if the airline allows you to use your miles to cover taxes and fees.

This can help you save money on your travel expenses. – Cash back: If you don’t want to use your miles towards travel, you can also redeem them for cash back.

However, the redemption value for cash back is less than it is for travel, so this may not be the most effective use of your miles. – Merchandise: Another option is to redeem your miles for merchandise.

However, like cash back, the redemption value for merchandise is typically less than it is for travel.

Common Questions

If you’re considering getting Capital One Spark Miles Select for Business, you may have some questions. Here are some of the most common questions and their answers:

– How do I qualify for Capital One Spark miles?

To qualify, you must have excellent credit, which typically means a credit score of 700 or higher. – What is the credit limit for Capital One Spark Miles Select for Business?

Your credit limit will depend on several factors, including your creditworthiness and the information you provide on your application. – Can I use my miles with Southwest Airlines?

Unfortunately, Southwest Airlines is not currently a partner of Capital One. However, there are several other airline partners you can transfer your miles to.

– Can I earn miles on travel purchases? Yes, you can earn 5X miles per dollar spent on hotel bookings and rental car bookings through Capital One Travel, and 1.5X miles per dollar on all other purchases.

Other Cards to Consider

If Capital One Spark Miles Select for Business doesn’t seem like the right fit for you, there are several other business credit cards to consider. Here are two other options:

The Blue Business Plus Credit Card from American Express: This card offers membership rewards points with no annual fee.

It also offers a 0% intro APR for the first 12 months, making it a great option for businesses that need to make a big purchase. Capital One Spark Miles for Business: If you want more benefits than Capital One Spark Miles Select for Business, then consider the Capital One Spark Miles for Business card.

It offers a similar rewards rate, but with additional benefits like a waived annual fee for the first year and a higher early spend bonus. Plus, you’ll earn 2X miles per dollar spent on rental car bookings through Capital One Travel, making it a great option for businesses that frequently rent cars while traveling.

In conclusion, Capital One Spark Miles Select for Business is an excellent credit card for small business owners who want to earn rewards on their purchases and use them for travel or other options. Its benefits include a simple rewards rate, an early spend bonus, a $0 annual fee, and flexible reward redemptions.

By maximizing the ways to earn and redeem miles and considering other cards to compare benefits, small business owners can choose the best option that meets their financial needs and goals. Ultimately, with careful planning and responsible use, earning and using those rewards points can help businesses invest in their growth and expand their operations.

Popular Posts