Capital One is solidifying its position as one of the best-value credit card issuers by making waves with its 50,000 bonus miles offer on the card. Capital One Spark Miles for Business. To earn these bonus miles, you need to meet a spending threshold of $4,500 within the first three months of opening your Spark Miles for Business account.
Based TPG’s valuation of Capital One miles for 1.85 cents per mile, that’s a total reward worth $925.
The welcome bonus is certainly just the beginning; Let’s take a look at some of the least known benefits of Spark Miles for Business.
Free employee card and account manager
One way to quickly increase your spend to continue earning rewards beyond the sign-up bonus is to add an employee card. Luckily, Capital One lets you add employee cards to Spark Miles for Business for free, giving you more flexibility in how you manage your cash flow and more opportunities to earn rewards (see exchange rates and fees).
You can also designate a specific employee as an account manager, giving them control over purchases and payments, reviewing transactions and resolving any issues.
With a steady earnings rate of 2 miles per dollar on all purchases, Spark Miles earns around 3.7%, making it an attractive option for Daily spending, no rewards for both you and your employees.
You can get a better return if you redeem your miles for premium cabin travel through programs like AviancaMiles Life or Etihad Guest, but 1.85 cents per mile is a useful baseline to consider.
Sync your transaction history with Quickbooks and Excel
The sign-up bonus alone makes it clear that Capital One is marketing this card towards higher-spending businesses, and the more money you have in and out of your account during the year, the more records you need to keep Be more careful to prepare for tax season.
Capital One wants to make this process as easy as possible. In addition to automatic fraud alerts and no liability if your card is lost or stolen, you can receive custom itemized spending reports each quarter and easily download and export calendars your transaction history to multiple platforms, including Quicken, Quickbooks, and Excel.
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Extended warranty and purchase protection
If you’re using Spark Miles as your primary credit card for your business, you’ll probably be making some pretty important purchases with this card.
You can rest assured knowing that Capital One will automatically extend the original manufacturer’s warranty on qualifying purchases made with this card.
Additionally, if an item you purchase is stolen or damaged within 90 days of purchase, you may be eligible for a replacement, repair or refund.
Bottom line
For a card with an affordable $95 annual fee — there’s a $0 introductory annual fee for the first year (see exchange rates and fees) — Spark Miles for Business can be a great fit for businesses with limited budgets.
What it does have, beyond the 50,000-mile sign-up bonus, is a small but valuable list of benefits that can help you manage your business finances more effectively and protect you from loss due to theft. stolen or damaged. While you obviously hope to never have to use these insurance benefits, even one use will more than offset the annual fee.
Read our full review of Spark Miles for Business This.
For Capital One products listed on this page, some of the above benefits are offered by Visa® or Mastercard® and may vary by product. See the respective Benefits Guide for details on when terms and exclusions apply.
Find out more: Capital One Spark Miles for Business
For Spark Miles for Business pricing and fees, click This.
