Capital One ® Spark Miles Business Card Review

Capital One® Spark Miles Business Card Review

by Beverly Harzog and staff writer- April, 2013

Are you a business owner who travels frequently for your business, and would like to earn travel rewards on your business spending? The Capital One ® Spark Miles Business Credit Card, issued by Capital One, gives you 1 miles for every dollar spent on everyday purchases. The great thing about these miles is that they won’t expire, don’t have any maximum limit, and can be redeemed for travel, merchandise, gift cards or even cash!

Key Highlights
• Get a 50% bonus on the miles you earn every year
• Earn 1 mile per dollar on every purchase, every day
• Save with 0% intro APR on all purchases until November 2013
• Enjoy no annual fee

The Capital One® Spark Miles Select for Business credit card offers small business owners a generous-and flexible-travel rewards program. You can redeem your miles to fly on any airline. You can also redeem your miles for cash, gift cards and more.

Get free advertising by customizing your card with your company’s logo. You can set spending limits for each employee and view their expenses on an itemized statement. At year-end, you get a free report that breaks down your expenses by category.

You earn 1 mile for every $1 spent. On your membership anniversary each year, you’ll earn a bonus that equals 50 percent of the rewards you earned in the prior year. For instance, if you’ve earned 10,000 miles, you’ll get a bonus of 5,000 miles. There are no limits to the amount of miles you can earn and the miles don’t expire. You can also redeem your miles for cash, gift cards to stores and restaurants, merchandise, and more.

Balance Transfers
Balance transfers carry a 12.9% – 12.9% variable APR. There’s no balance transfer fee.

The Capital One® Spark Miles Select for Business credit card offers a zero percent introductory APR through November 2013. After that, this card carries a 12.9 percent to 20.9 percent variable APR. Cash advances carry a 24.9 percent (V) APR with a 3% fee of the amount of the cash advance, but not less than $10, and there’s no grace period. There’s no annual fee. There are no foreign transaction fees.

Who Should Apply
Small business owners who are looking for a credit card with a flexible travel rewards program. This is also a great card for business owners who travel overseas since there are no foreign transaction fees.

Credit Standing
You need an excellent credit score to qualify for this card.

Things We Like About This Card
Miles can be redeemed for cash, merchandise, gift cards or travel. Another advantage you have with this card is that you can use your Miles for more than just traveling; you can also redeem them for cash, gift cards and merchandise.

Two ways to redeem your Miles for travel: (1) Contact their Rewards Center toll free to book your travel, or (2) Buy your travel (flights, travel packages etc) anywhere you choose, from any website or any travel agency, with your Spark Miles for Business card. You’ll then have 90 days from the date your travel purchase posts to your account to call their Rewards Center or redeem your miles online to be reimbursed for the cost of the travel purchase.

No limit on the amount of miles you earn and miles won’t expire. You will not feel pressured to spend your miles by a certain date or to only be allowed to accumulate a certain amount since they will not expire and you can feel free to accumulate them for as long as you want.

No blackout dates or seat restrictions when booking air tickets on most major airlines. You will be able to get a seat (if any is available) in any class you desire and to any destination.

No foreign transaction fees. This can be very useful if you travel a lot since it will help you save a lot of money.

Free itemized report on your business spending. At the end of every year, so as to help you better organize your finances, spot any tax deductions and plan the next year’s budget, you will receive a free itemized report of all your spending that current year.

$0 Fraud Liability Protection To make you feel more secure and protected, this card also includes a $0 Fraud Liability Protection, so if your card is ever lost or stolen, you will not be held responsible for any unauthorized charges from your card.

Purchase Security and Extended Protection. Purchase Security automatically protects most purchases you make with your business credit card within 90 days of purchase in the event of damage, loss, theft, or fire, up to a maximum of $10,000 per claim and $50,000 per cardholder. Extended Protection doubles the time period of the original manufacturer’s written U.S. warranty up to 1 year on warranties of three years or less.

Have your company’s logo on your card. With Capital One Image Card, you can easily upload your company’s logo or a photo of your business. This customized card design helps you promote your business every time you use your card.

Auto rental collision damage waiver. When you rent a car with this business credit card, you’ll be covered with collision, damage, and loss insurance.

Travel and emergency assistance. When you’re traveling for business anywhere, you can feel more secure knowing you can rely on a number of Visa emergency services 24/7 such as ticket replacement, medical or legal referrals and more.

Various discounts. This credit card also offers various discounts to help you save money on things like dining and staying at certain business hotels.

Online Banking. You can access and manage your account whenever it’s convenient for you. With online banking, you can view account activity, pay bills, view and download up to 13 months of statements, and more.

Award-winning small business customer service. No more recorded messages or being put on hold. If you have any questions, call them toll-free at 1-800-867-0904 and their representatives, who are specially trained to deal with business owners, will help you.

Click here to apply for the Capital One® Spark Miles Business Card

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