The Capital One Spark Miles credit card gives frequent travelers the opportunity to earn rewards simply by charging their travel related expenses on their accounts. This line of business credit cards is aimed at entrepreneurs, small business owners, and companies that may not have many employees but still want to enjoy the perks that come from maintaining a good credit rating.
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With a low interest rate and a generous credit limit, the Capital One Spark Miles credit card is becoming very popular in the business world.
New cardholders will get an additional 5,000 bonus miles as soon as they add an employee as an authorized user on their Capital One Spark Miles credit cards. Enrollment in the Spark Miles Rewards Program is automatic when approved for a line of credit.
Capital One Spark Miles Benefits
Capital One Bank, the finance company that backs these business credit cards, has a B+ rating with the Better Business Bureau. If you are approved for a Capital One Spark Miles credit card, your initial credit limit will be $5,000 at a minimum. There is an annual fee, but you won’t have to pay until you have had your Capital One Spark Miles card for a year.
New account holders also have the chance to receive 15,000 bonus Spark Miles if they finance a minimum of $1,000 per month for the first three months that they have their credit cards. Capital One allows cardholders to make payments and review their billing statements on the web.
- Get 2X miles on every purchase, every day
- Earn a one-time bonus of 10,000 miles once you spend $1,000 on purchases within the first 3 months
- Earn 5,000 bonus miles when you sign up for one or more employee cards within the first 60 days
- Fly on any airline with no blackout dates or seat restrictions
- There’s no limit to the amount of miles you can earn
- Miles don’t expire
- Redeem miles for travel, cash, merchandise, gift cards, and more
Capital One Spark Miles Interest and Fees
The fixed APR on the Capital One Spark Miles credit card is between 13.9% and 20.9% Making a single late payment can result in the default interest rate of 29.4% being set. Cash advances are charged at 24.9% and annual fee is $59 the second year, following no annual fee for the first year.
Late payments on the Capital One Spark Miles card are charged a $39 fee. The minimum payment that Capital One Bank will accept is $0.50. Cardholders that have a balance of $15 or less will need to pay a minimum amount of $15 and no additional charges will be due.
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