Who is the Capital One Sparks Miles Credit Card Designed For?
The Capital One Sparks Miles Credit Card is designed for business owners with excellent credit who frequently travel for business and would like to earn travel rewards on their purchases.
What are the Interest Rates?
Interest rates range from 13.9% to 20.9, which is competitive for a business travel card. The cash advance fee is 24.9% and there is no intro APR.
What Are the Fees?
The Spark Miles credit card has a $59 annual fee, but it's waived the first year. It has a 3% cash advance fee with a minimum fee of $10 and a $39 late payment fee, but that's it. There are no balance-transfer fees, foreign transaction fees, returned balance fees or over-the-credit-limit fees.
What Is the Rewards Program Like?
Capital One's Spark Miles credit card has a flexible, generous and easy to use rewards program. Earning miles is easy with its 2 points for every dollar reward ratio on all purchases. The miles you earn don't expire and you can redeem miles for travel, gift cards or even cash.
Redeeming miles for travel expenses is just as easy. Just purchase the ticket with the airline and travel website you prefer and pay for it with your Sparks credit card. Then simply request a statement credit from Capital One. This avoids the hassle of blackout dates and seat restrictions. There is a 1:1 ratio when it comes to miles and dollars. For example, a $200 flight will cost you 20,000 points.
What about the Signup Bonus?
Spark Miles users can earn 25,000 miles ($250 equivalent), if they spend $5,000 within the first three months of opening their account. They can also earn an additional 5,000 bonus points when they order one or more cards for employees within the first 60 days.
Any Other Benefits?
The Capital One Sparks Miles credit card comes with 90-day purchase protection, auto-rental collision damage waiver, extended warranty on items purchased with the card, travel and emergency assistance and travel and emergency assistance.
How Is It Better Than Other Credit Cards?
The Sparks Miles credit card issued by Capital One has a competitive rewards rate, a large signup bonus, useful travel benefits, and relatively low interest rates. It does have a $59 annual fee, but it's waived the first year, there are no foreign transaction fees, and the 30,000 miles signup bonus pays for 5 years of annual fees.
If paying an annual fee is deal-breaker, start with this card and then switch to the Spark Miles Select credit card after 12 months. The Select has a lower rewards rate (1.5%) but doesn't have an annual fee.
Important Disclosures: http://www.capitalone.com/business-credit-cards/spark-miles-rewards/disclosures/