Capital One Spark Miles Select review: Earn transferable miles with no annual fee
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 1.5 miles per dollar on every purchase. You can transfer your miles to 15-plus airline and hotel partners or use your miles to erase travel charges at a rate of 1 cent per mile. 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 an unlimited 1.5 miles per dollar everywhere. It also has a recommended 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 valuations) if you transfer them to the right partner.
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 welcome offer
The Spark Miles Select card currently has a sign-up bonus of 50,000 bonus miles after you spend $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. But the option to transfer Capital One miles to travel partners bumps up TPG’s valuation of the miles up to 1.85 cents each, increasing the bonus value to $925.
Related: Here are the best credit card welcome offers for June
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.
Earning miles on the Spark Miles Select
The Spark Miles Select card earns an unlimited 1.5 miles per dollar on every purchase. Considering TPG’s valuation of 1.85 cents per mile, you get a 2.8% return on everyday 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 editor Emily Thompson and transfer your Capital One miles to 15-plus airline and hotel partners. This ability to earn and redeem transferable points 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.
For more ideas on how to use your miles, check out our guides on using Capital One miles to book awards with Star Alliance, Oneworld and SkyTeam airlines.
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 (waived for the first year, see rates and fees) before applying. For more details, 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). For more details, 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 points per dollar on all purchases. You can transfer these points to any of Chase’s travel partners if you also have a card that earns transferable Chase Ultimate Rewards. For more details, 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: Step by step: 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.
Further reading:
- Best business credit cards
- Best no annual fee business credit cards
- Who qualifies for a business credit card?
- 9 reasons to get a business credit card
- How to apply for a Capital One 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 above benefits are provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply.
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