Edited by: Keri Stooksbury
& Kellie Jez
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If you own a business, you understand the need to keep personal and business expenses separated and the importance of having an organized system to keep track of those expenses. Ideally, you’ll also have a system for earning rewards on every purchase your business makes. All of these reasons make a good case for your operation to have at least 1 business credit card.
Capital One, traditionally known for its personal credit card marketing jingle, “What’s in your wallet?” also issues a respectable collection of business credit cards that, just like its personal cards, deliver earnings on every purchase you make.
Known for their lack of complexity, Capital One credit cards offer simple earning structures, easy redemption options, and minimal bells and whistles when it comes to benefits. Don’t let the simplicity fool you, however, as the right Capital One business credit card could be an appropriate fit for your business.
Let’s take a look at the business credit cards Capital One has to offer and find out if there is a gem in here that makes sense for your business operation.
While Capital One does a great job of keeping things simple when it comes to business credit cards, there are differences between cards.
Here’s a summary of all the earnings and notable benefits of the featured business cards we’ve mentioned in our article today.
|Card||Welcome Offer and Annual Fee||Key Benefits|
|Capital One Spark Classic for Business||
Note that earnings, redemption options, welcome offers, and benefits do change. Be sure to review the most recent offers and associated benefits prior to applying for any credit card.
With unlimited earnings, every expense your business makes will be rewarded when you use a Capital One business card.
Whether you use your earned miles for flights, hotels, or other travel expenses, these cards can help reduce the bottom-line cost of travel.
We like that the Capital One Spark Miles card also earns double rewards on every purchase your business makes. As a busy business owner, you can also appreciate the simplicity of not having to manage a complicated card earning structure.
When it’s redemption time, you’ll have the option to redeem your miles via Capital One Travel or redeem miles against travel purchases from the last 90 days with a statement credit. You’ll find extra potential value, however, if you utilize the option to transfer miles to hotel and airline partners.
Additional travel-related benefits include 5x earnings on hotels and rental cars via Capital One Travel, Global Entry or TSA PreCheck fee reimbursement, 2 passes to Capital One Lounges or Plaza Premium Lounges, and no foreign transaction fees.
If you’re looking for a similar business card without an annual fee, the Capital One Spark Miles Select card earns 1.5x miles on every purchase with unlimited earnings. The card does not come with the additional travel benefits of the Capital One Spark Miles card, but it does not charge foreign transaction fees and offers the same flexible redemption options.
Cash-back rewards are as liquid as you can get, making it easy to reinvest the funds directly back into your business. Capital One has several business cards offering cash-back rewards.
The Capital One Spark Cash Plus card comes with a nice welcome bonus after meeting minimum spending requirements and provides unlimited ongoing 2% cash-back earnings on every purchase.
The card does have a
Not to mention, if your business spends more than $30,000 each year, you should fare better over one of the Capital One no-annual-fee cards.
Hot Tip: A great perk that comes with all Capital One consumer and business cards through June 22, 2024, is a free 6-month membership to The Cultivisit, a service offering free access to museums across the world.
If you would prefer a cash-back business card with no annual fee, the Capital One Spark Cash Select card could be a consideration. The card earns unlimited 1.5% cash-back on every purchase.
Perhaps your credit is not as strong as it could be, but you still need a business card that will reward every purchase. The Capital One Spark Classic card earns just 1% cash-back, but you may be able to be approved with just a fair credit history. Also, the card does not charge an annual fee.
In order to avoid high ongoing and penalty interest rates, you’ll need to pay the card off every statement period.
When your business makes a large purchase, it might be convenient if the expense could be paid back over time, allowing your business to save money while no interest was charged for the privilege. Business credit cards with 0 APR for purchases could help out in this situation.
The Capital One Spark Miles Select card offers
Although Capital One Miles are called “miles,” they are not frequent flyer miles but simply redeemable points.
Fortunately, the miles are easy to redeem as a statement credit for previous travel purchases, for travel via Capital One Travel, or for potentially even more value by transferring miles to travel partners.
You can purchase travel from any travel provider and once the charge shows up on your card statement, just redeem your miles online for a credit against your purchase. You can also book travel via Capital One Travel using your miles. Capital One miles are worth 1 cent each towards travel for either of these 2 options.
For additional potential value, you can transfer your Capital One miles to airline transfer partners and book award tickets.
There are other options for redeeming your miles, such as statement credits for other purchases, experiences, or gift cards. However, the value you receive could be much less than 1 cent per mile.
Also, when your eligible card is linked to PayPal, you can checkout with PayPal and redeem your miles at a rate of 125 miles to $1. We’d recommend this only if you can’t use your miles for travel or as a statement credit.
Your cash-back rewards can be redeemed at any time for any amount. When redeeming your cash-back for a statement credit or check, you can expect to receive a full 1 cent value for each 1 cent in cash-back you have in your account. You may receive less value for other redemptions such as gift cards.
When your eligible card is linked to PayPal, you can checkout with PayPal and redeem your cash-back at a rate of $1 to $1.
Cash-back does not expire as long as your account is open.
In addition to straightforward earning options and flexible redemption choices, Capital One business credit cards can offer these associated benefits.
Please note that the information below has been collected independently by Upgraded Points and has not been provided by the card issuer. Some of these benefits are provided by Visa or Mastercard and may vary by product. See your respective guide to benefits for details, as terms and exclusions apply.
Capital One business cards that are issued as Visa Signature cards come with the following additional benefits:
Note that this is an abbreviated summary of benefits and protections. Please review the benefits guide for Capital One Visa Signature business cards for more information on coverage descriptions, terms and conditions, and a complete list of card benefits.
Capital One business cards are likely to be issued as a Visa Signature card, but you could also receive a Visa Platinum. Which card you receive will depend on your creditworthiness as determined by Capital One.
Although initially your personal credit may be used to determine approval, Capital One business cards report to business credit bureaus such as Experian, Dun and Bradstreet, and the Small Business Financial Exchange. This makes it possible to build your business credit via Capital One business cards.
Take your Capital One business card along when you travel as there are no foreign transaction fees charged on any of the Capital One business cards.
It’s recommended that you have excellent credit to increase your changes of approval for most Capital One business credit cards. With excellent credit, you may have your choice of business credit cards, so you’ll want to select the cards that deliver the most bottom-line value.
If your business involves a lot of travel, for example, you may want to consider a premium business travel rewards card such as The Business Platinum Card® from American Express. The card comes with far more luxury travel benefits than any of these Capital One business cards.
If your business spends a lot on airline purchases, there may be better cards that offer travel benefits.
If your spending doesn’t fall into standard business bonus spending categories such as office supply stores, shipping, internet, phone, dining, or gas stations, you may fare well with a Capital One business card that offers 2x unlimited earnings on every purchase.
In many cases, a combination of more than 1 business credit card becomes an appropriate solution to maximize earnings, meet your redemption goals, and receive the desired benefits. If you’re not sure where to start, check out our business owner’s guide to points and miles for some guidance.
The information regarding the Capital One Spark Classic for Business was independently collected by Upgraded Points and not provided nor reviewed by the issuer.
The information regarding the Capital One Spark Miles Select for Business was independently collected by Upgraded Points and not provided nor reviewed by the issuer.
The information regarding the Capital One Spark Cash Plus Card was independently collected by Upgraded Points and not provided nor reviewed by the issuer.
The information regarding the Capital One Spark Cash Select for Excellent Credit was independently collected by Upgraded Points and not provided nor reviewed by the issuer.
Information regarding the Capital One Spark Miles for Business was independently collected by Upgraded Points and not provided nor reviewed by the issuer.
For rates and fees of The Business Platinum Card® from American Express, click here.
The best Capital One business card will depend on how much your business spends and the category of your biggest expenses.
If you spend more than $20,000 per year, however, you may be better off with a Capital One business card that offers unlimited 2x earnings on all purchases, even if you pay an annual fee.
If your business spends a lot on travel and you appreciate luxury travel benefits such as airport lounge access, hotel elite status, and travel purchase statement credits, a premium travel rewards card may be a better fit.
Yes, Capital One miles can be transferred to several airline partners and then redeemed for award tickets.
The process is simple as you just log in to your online Capital One credit card account and initiate the transfer. Once the miles transfer is complete, the Capital One miles become frequent flyer miles that can be used to purchase award tickets.
The process is not reversible, however, as once you have transferred Capital One miles to an airline partner, they cannot be transferred back.
Neither the Capital One miles nor the cash-back you accumulate in your account expire as long as your account is active.
If you close your account, any unused rewards will be forfeited.
The official policy is that Capital One allows you to have a total of 2 business credit cards at 1 time.
Redeeming your Capital One miles is quite simple. You would first log in to your online Capital One account, click on your miles balance and you’ll find the redemption options.
You can select Redeem Travel Purchases to use your miles at 1 cent each as a credit against previous travel purchases for up to 90 days after the purchase posted to your account.
You can redeem miles for new travel via the Capital One Travel portal and purchase travel directly.
Both options deliver a value of 1 cent per mile.
To receive potentially greater value, you can transfer your Capital One miles to airline partners and use them to purchase airline award tickets or to hotel partners.
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UP's Bonus Valuation
This bonus value is an estimated valuation calculated by UP after analyzing redemption options, transfer partners, award availability and how much UP would pay to buy these points.