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The Spark Business credit cards from Capital One are both great cards but with a slight difference.
It’s simple cash.
You earn them at the rate of 2 per dollar spent.
You can redeem each dollar earned in your account for …. one dollar.
But you can’t transfer Spark Cash points out to airlines or anything like that. It’s just cash.
1) You can use as a purchase eraser for travel purchases at a 1:1 rate. This would be like 2% cash back but you can only redeem for travel. You also have the option to redeem for straight cash – but at only half the rate (2 miles = $1) so that’s not a very good option.
2) Capital One miles are transferable to 19 airline and hotel partners.
Capital One Transfer Partners
|Capital One Miles||Last updated: June 2021|
|Transfer Ratio||Expected Transfer Time|
|Cathay Pacific Asia Miles||1:1||Nearly instant|
|Choice Hotels||1:1||TBD; Not yet available - launches later in 2021|
|Etihad Guest||1:1||1-2 days|
|TAP Air Portugal||1:1||TBD|
|Wyndham Rewards Hotel Program||1:1||Instant|
|Air Canada (Aeroplan)||2:1.5||Instant|
|Air France / KLM Flying Blue||2:1.5||Instant|
|British Airways Avios||2:1.5||TBD|
|Turkish Airlines Miles&Smiles||2:1.5||TBD|
|Singapore Airlines KrisFlyer||2:1||1-2 days|
|Accor Live Limitless (ALL) Hotel Program||2:1||1-2 days|
If you know you just want cash back, then you know the Capital One Spark Cash for Business is your card.
If you know you want airline miles, then the Capital One Spark Miles for Business is your card.
But what if you want options?
You Can Have Both Cards – and Transfer from the Spark Cash to the Spark Miles Card
And I actually do. This way I can earn on the Spark Cash (2 points per dollar) and then I can either redeem for a check at full rate (1:1) or I can transfer from my Spark Cash to my Spark Miles card and then transfer from there to airline partners.
You Can’t Transfer the Other Way
So, if you want to keep your options open, you have to do the earning on your Spark Cash card. You could earn on the Spark Cash and open a Spark Miles later – but you cannot do the reverse.
The Downside to This Plan?
Two annual fees of $95 each (waived the first year). So there is an opportunity cost. You’d need to be spending enough to make it worthwhile. However, you can get the early spend bonus (more on that below) on both cards. Even the standard early spend bonus offer will offset your first 5 years of annual fees. And the big offer on now is 4 times that.
And the one piece of the puzzle that I don’t know is if the no-fee Spark Miles Select Business Credit Card is a transfer option from the Spark Cash. If you have both cards, can you please let me know? If that was an allowable transfer, you’d only have to pay your annual fee on the Spark Cash. The Spark Miles Select Business Credit Card earns at a lower rate, but the transfers to airlines are the same as the regular Spark Miles for Business.
I’ll also note that Capital One added a permanent fee waiver on my Spark Cash account many years ago when I was calling to cancel (well before I even had this blog). I obviously was spending enough for them to care, but it’s worth knowing that this is possible. Certainly with even one of the two fees waived, this works even better,
Capital One Early Spend Bonus Offers
The card earns 2 Capital One miles per dollar on all spend and 5X miles on hotels and car rental bookings made through the Capital One Travel portal.
And then the Capital One Spark Cash for Business (Learn How to Apply) has a similar offer with a Limited Time Early Spend Bonus of $500. You will earn a bonus of $500 when you spend $4,500 in the first 3 months of opening your account.
Be aware: Capital One will pull all 3 credit bureaus when deciding to approve or deny your application. As well, a business card with Capital One will be reported to credit bureaus on your personal report, meaning that it will count against your Chase 5/24 status.
I’m also not advocating getting both of these cards the same day. Mainly because you’d get denied for the second one. Ideally you already have one. Else, you’ll need to space your applications out by at least 6 months.
Is the Flexibility Worth Two Cards?
And if this post helped you, please consider sharing it!
You can find credit cards that best match your spending habits and bonus categories at Your Best Credit Cards.
New to all of this? My “introduction to miles and points” book, MilesTalk: Live Your Wildest Travel Dreams Using Miles and Points is available on Amazon and at major booksellers.