【2023.8 Update】The welcome bonus on this card has been increased to 50,000 points, and as a no-annual-fee business card, it is still very competitive.

Capital One Spark Miles Select Business Credit Card

【Note】If this is your first time applying for a business credit card, please first read “Introduction to Business Credit Cards” carefully

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Full review

Capital One Spark Miles Select

1.5x on all purchases, no annual fee, and very easy to keep!

  • Welcome bonus: 50,000 Capital One points (spend $4,500 within three months of account opening)
  • Rewards: 1.5x on all purchases
  • Redemption: 0.5c/p for cash redemption, 1c/p for travel redemption; can be transferred to hotel points or airline miles
  • Annual fee: $0
  • Apply now>>

Highlights

  • 1.5x points on all purchases: If you prefer using just one card for everything, getting the equivalent of 1.5% cash back on all purchases is pretty solid.
  • Easy points redemption: After paying travel-related purchases with this card, you can directly use points to offset those charges.

Drawbacks

  • No other bonus categories to speak of

This card’s points program has been updated, and points can now be transferred to airline miles at a 2:1.5 ratio. Good partners include Aeroplan (Air Canada), Avianca, Cathay Pacific, and Flying Blue. For beginners, Air Canada miles are still the easiest to use, just watch out for the high fuel surcharges.

  • All 14 transfer partners: Aeromexico, Aeroplan (Air Canada), Alitalia, Avianca, Cathay Pacific, Emirates (2:1 rate), Etihad Airways, EVA Air, Finnair, Flying Blue (Air France and KLM), Hainan Airlines, Qantas, Qatar Airways, Singapore (2:1 rate)

Capital One has added two transfer partners, Wyndham Rewards (2:1.5) and Accor Live Limitless (2:1). It also improved the transfer ratio to JetBlue to 2:1.5 (previously 2:1). The changes are nice, but Wyndham points are not very valuable, probably around 1 cpp. Accor points are valued by TPG at 2 cpp, but with a 2:1 transfer ratio, it still does not seem especially useful.

Capital One Points Overview

  • Point Value: Average value is 1.2c/p, so 100 points = $1.2 (Point Values & Analysis)
  • Redeem Directly: Redeem at 1c/p toward travel purchases or various gift cards; cash out directly at 0.5c/p
  • Transfer Partners: Transfer 1:1 to Air Canada miles (good for US-China flights and infant tickets), British Airways (short nonstop flights, Avianca miles (good for US-China business class, ANA and Asiana US-China first class, and no YQ on award tickets), Qantas Airways miles (good for domestic US nonstop flights and flights from the US East Coast to Western Europe), TAP Portugal Miles&Go, Turkish Airlines Miles&Smiles, Flying Blue, Club Premier, Asia Miles, Etihad Guest, Finnair Plus, Wyndham, and Choice. Transfer times range from instant to several days.
  • Points Feature: You can pool all of your Capital One points into one account and use them together.
  • My Take: Capital One has fewer transfer partners, so compared with some other programs it is a bit less flexible and valuable. The more useful partners are AC and Avianca. Redeeming points for travel at 1c/p is also a solid option, and you can still earn miles, which makes it much easier than transferring points for award tickets.
  • Detailed Analysis: Capital One Points Guide>>

My Take

1.5x cash back, no annual fee — this is still a card worth keeping long term. The so-called 1.5x points become 1.5% cash back if you redeem them for travel purchases; now that it also has airline transfer functionality, holding it is even easier since there is no annual fee.

Compared with the annual-fee version, the Capital One Spark Miles credit card, the welcome bonus is much lower, and the everyday earnings are lower too. If you can meet a higher spending requirement, it is still better to go with the card that offers the larger welcome bonus.

Capital One Credit Card Application Guide

  • Application status can only be checked by phone: (800) 903-9177
  • Capital One applications usually pull reports from all three credit bureaus. You may be able to avoid a hard pull by freezing some of your credit reports.
  • You can apply for only one Capital One credit card every six months, including both personal and business cards. If you force another application, it will likely be instantly denied, but it will not result in a hard pull.
  • One person can hold at most two Capital One personal credit cards at the same time, counting only Capital One-issued cards.
  • If you do not qualify for the card you applied for, you may be automatically approved for a different card instead, usually a lower-tier version. You can choose to accept or decline it, and there will be no additional hard pull.
  • New applicants may be asked to upload ID during the application process.
  • More on applying for Capital One credit cards

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