Capital One is strengthening its position as the most rewarding credit card issuer by waving new cardholders with an offer of 50,000 bonus miles on Capital One Spark Miles for Business. To earn these bonus miles, you’ll need to meet a spending threshold of $4,500 within the first three months of opening a Spark Miles for Business account.
Based on TPG’s November 2024 valuation of Capital One Miles at 1.85 cents, that’s a total bonus of $925.
A solid welcome bonus is just the beginning; Let’s take a look at some of the lesser-known benefits of Spark Miles for business.
Free employee card and account manager
One way to quickly increase your spending to keep earning rewards longer than a welcome bonus is by adding employee cards. Thankfully, Capital One lets you add employee cards to Spark Miles for Business for free, giving you more control over how you manage your cash flow and more opportunities to earn rewards.
You can also assign a specific employee as an account manager, allowing them to take control of making purchases and payments, reviewing transactions, and resolving any issues.
With a consistent earning rate of 2 miles per dollar on all eligible purchases, Spark Miles earn about 3.7% based on TPG’s November 2024. Valuation, making it an attractive choice for everyday, non-bonus expenses for both you and your employees.
Cardholders can also earn 5 miles per dollar on all hotel and car rentals booked through Capital One Travel.
It’s possible to earn more if you redeem your miles for premium cabin travel through programs like Avianca LifeMiles or Etihad Guest, but 1.85 cents per mile is a helpful baseline to think about.
Sync your transaction history with Quickbooks and Excel
The welcome bonus alone makes it clear that Capital One is marketing this card toward high-spending businesses, and the more money you’ve flowed in and out of your accounts over the course of the year, the more carefully you’ll need to keep records. Tax season.
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Capital One wants to make this process as easy as possible. In addition to automatic fraud alerts and zero liability if your card is lost or stolen, you can get customized itemized expense reports every quarter and easily download and export your transaction history to multiple platforms, including Quicken, QuickBooks, and Excel.
Extended warranty and purchase protection
If you’re using Spark Miles as the main credit card for your business, chances are you’ll be making some pretty important purchases with it.
You can rest assured knowing that Capital One will automatically extend the original manufacturer’s warranty on eligible purchases made with this card.
Also, if the item you purchase is stolen or damaged within 90 days of purchase, you may be eligible for a replacement, repair, or refund.
The bottom line
For a card with a reasonable $95 annual fee — which has an introductory annual fee of $0 for the first year — Spark Miles for Business may be a good fit for budget-minded enterprises.
What it does have, in addition to its 50,000-mile welcome bonus, is a small but valuable list of benefits that can help you manage your business finances more efficiently and protect against losses due to theft or damage. While you obviously hope to never have to use these insurance benefits, a single use will more than offset the annual fee.
To learn more, check out our Full review of Capital One Spark Miles for Business.
Learn more: Capital One Spark Miles for Business
Related: Do I Need a Business to Get a Business Credit Card?
For Capital One products listed on this page, some benefits may be provided by Visa® or Mastercard® and may vary by product. For details of conditions and exclusions applicable, see the relevant guidelines for benefits.