Chase Ink Business Preferred vs. Capital One Spark Miles for Business: Which Card is Right for You?
The world of small business credit cards is short on premium options. Business owners find that even if a card has enough benefits to outweigh the annual fee, they have a hard time justifying an expense that doesn’t directly increase their bottom line.
However, there are many great options available to small businesses looking to earn valuable travel rewards on purchases without paying high fees. Two of these are Capital One Spark Miles for Business and Chase Ink Business Preferred® Credit Cardprovides access to an incredible collection of Transfer Partner and impressive benefits for business.
Compare these two solutions to help you decide which one is right for your business.
Compare Ink Business Preferred vs. Spark Miles Business
| Preferred Business Ink | Spark Miles for Business | |
|---|---|---|
| Annual fee | $95 | The introductory annual fee is $0 for the first year, then $95 (see prices and fees) |
| Sign up bonus | Earn 120,000 bonus miles after spending $8,000 on purchases in the first 3 months after account opening | Earn 50,000 bonus miles after spending $4,500 on purchases within the first 3 months of account opening |
| Award categories | Earn 3 points for every dollar spent on the first $150,000 on combined purchases of transportation, internet, cable, phone service, social media advertising, search engines, and travel
Earn 5x total points on Lyft rides (through March 2025) Earn 1 point per dollar on all other purchases |
Earn 5 points per dollar on hotel and rental car bookings through Capital One Travel
Earn 2 unlimited miles per dollar spent on every purchase |
| Benefits | Employee cards at no additional cost
Protect travel and shopping Mobile phone protection No foreign transaction fees |
Employee cards are available at no additional cost (see prices and fees)
Up to $100 credit for TSA PreCheck or Global Entry Extended Warranty Protection No foreign transaction fees (see prices and fees) |
Ink Business Preferred vs. Spark Miles Business Welcome Offer
The Preferred Business InkFor a limited time, will award 120,000 bonus points after you spend $8,000 on purchases in the first three months, worth $2,460 based on TPG July 2024 valuation.
The Spark Miles for Business has a welcome bonus of 50,000 miles after spending $4,500 on purchases within the first three months of account opening. While the card’s welcome offer isn’t as impressive as the Ink Business Preferred’s, it only requires about half the spending. Thanks to its extensive list of transfer partners, TPG’s July 2024 valuations value Capital One miles at 1.85 cents per mile, making this bonus worth $925.
Like most Chase credit cards, the Ink Preferred is limited by The 5/24 RuleThis means you will be automatically declined if you have opened five or more credit cards from all issuers in the past 24 months.
Winner: Chase Ink Preferred. 120,000 bonus miles is a special welcome offer.
Related: Redeem Capital One Miles? How to Get the Most Value When Redeeming Miles
Benefits of Ink Business Preferred vs. Spark Miles Business
Both cards have a $95 annual fee (although only Spark is free for the first year – see Spark Miles prices and fees), and you typically won’t find many perks on such cheap cards. However, each card has notable benefits, aside from the fact that none of them charge foreign transaction fees (see Spark Miles prices and fees).
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With Preferred Business InkYou get a variety of travel insurance and protection benefits, making the Ink Preferred an ideal card for businesses that spend money on travel-related expenses or purchases.
For example, Trip cancellation/interruption insurance Coverage up to $5,000 for prepaid, non-refundable travel expenses and trip delay insurance covers trips delayed for 12 hours or more by providing reimbursement of up to $500. As an Ink Preferred cardholder, paying your or your employees’ phone bills will be provided mobile phone protection up to $600 per claim for cell phone damage or theft with a limit of three claims within a 12-month period with a $100 deductible per claim.
On the other hand, Spark Miles Business The card only offers purchase security and extended warranty protection for purchases, which the Ink Preferred also offers. Business owners will also benefit from a TSA PreCheck/Global Entry statement credit of up to $100.
Both cards allow adding authorized users at no cost (see prices and fees for Spark Miles Business), a great benefit for businesses with multiple employees. As a business owner, if your expenses are travel-related, the Spark Miles Business card doesn’t offer any protections or benefits despite offering lounge access and statement credits for airport express check-in programs.
Winner: Both cards offer benefits that businesses find valuable, whether it’s travel protection, statement credits or lounge access.
Earn points with Ink Business Preferred vs. Spark Miles Business
One of the biggest differences between these two cards is how they accrue rewards on your spending after the initial welcome bonus.
The Preferred Business Ink Earn 3 points per dollar (6.15% yield based on TPG’s July 2024 valuation) on your first $150,000 in total annual spending in the following bonus categories:
- Travel, including airfare, hotels, rental cars, trains and taxis
- Purchase shipping
- Internet, cable and phone services
- Advertising purchases are made through social networking sites and search engines.
After that, the card will earn 1 point per dollar on every purchase. If you max out this amount each year, you’ll earn 450,000 Ultimate Rewards points (worth $9,225 based on TPG’s July 2024 valuation).
If you don’t regularly spend in these specific categories, you may be better served by Spark Miles for Business. This card offers a flat 2 miles per dollar on most purchases, with an effective yield of 3.7% based on our July 2024 valuation. This card also earns 5 enhanced miles per dollar on hotels and rental cars booked through Capital One Travel.
If you spend a lot of money on the Ink Preferred bonus categories, this card is a good choice. However, for a simpler earning structure, Spark Miles is superior.
Winner: Tie. Both cards have different reward earning categories, so it depends on where you spend your money.
Related: Best credit cards for everyday spending
Redeem Points with Ink Business Preferred vs. Spark Miles Business
Both cards earn valuable transfer points and it’s really hard to go wrong with Chase Ultimate Rewards or Capital One Miles ecosystem. Both cards earn miles that can be transferred to loyalty partners or redeemed through the Chase Travel℠ or Capital One Travel portals for airfare, hotels, and car rentals. You’ll also earn miles and eligible miles on flights booked this way.
What is remarkable is that Spark Miles for Business still allows you to redeem your miles at a flat rate of 1 cent per mile to book travel through the Capital One portal. Likewise, you can redeem your Chase points directly through Chase Travel to get a discount on airfare and receive a 25% bonus, equivalent to a value of 1.25 cents per point.
Rewards on both cards can also be redeemed for statement credits and gift card purchases. However, this only yields 1 cent per point and won’t maximize your rewards.
Winner: Tie. Both cards offer similar rewards options and flexibility for cardholders.
Transfer points with Ink Business Preferred vs. Spark Miles Business
Both cards are partnered with the following three airlines:
- Singapore Airlines KrisFlyer
- Air France-KLM Fly Blue
- Emirates Skywards
Capital One has more than 15 airline and hotel partners that cardholders can transfer miles from. Spark Miles Business with a 1:1 transfer ratio for most partners.
Meanwhile, on the other hand, points from Preferred Business Ink can be transferred to 14 partner airlines and hotels at a 1:1 ratio. I used the welcome offer from Favorite Ink to change destination Singapore KrisFlyer to put one Singapore Airlines A380 Business Class ticket.
Winner: Each card has a list of transfer partners, attracting different types of travelers.
Should I choose the Ink Business Preferred or Spark Miles Business plan?
The Favorite Ink is a better choice for small business owners who want to take full advantage of the card’s bonus categories and earn points with other Chase cards they already have in their wallet. Conversely, Spark Miles for Business Ideal for those who want a simpler points earning structure.
Last line
The Favorite Ink And Spark Miles for Business are valuable cards that help your business earn travel rewards for your spending. The first question you need to ask yourself is whether your business can meet the spending requirements of the Ink Preferred or whether you want to spend less on the Spark Miles for Business card.
Plus, you can decide for yourself which card will offer more rewards on your ongoing spending—3 points per dollar on the first $150,000 in select business categories or 2 miles per dollar on all purchases—and which program offers transfer partners that better suit your travel needs.
Read our full review of Ink Business Preferred And Spark Miles for Business to find more about.
Register here: Preferred Business Ink
For Capital One products listed on this page, some benefits may be offered by Visa® or Mastercard® and may vary by product. See the respective Benefits Guide for details, as terms and exclusions apply.
