Capital One® Spark® Miles Select Review: Up to 5x Points in Travel Rewards

The Capital One® Spark® Miles Select for Business card is a great no-annual-fee option with a long list of benefits and an excellent rewards rate. However, there's also an area where this card is notably lacking. In this review, you'll get a complete look at what the Capital One® Spark® Miles Select for Business does well and where it could improve.

Unlimited 1.5 miles per $1 -- Capital One® Spark® Miles Select for Business offers flat-rate travel rewards, so every purchase earns you 1.5 miles per $1 spent. That rate is equal to many of the top no-annual-fee cards. Each mile is worth $0.01 when redeemed towards travel purchases.

Five miles per $1 on hotel and rental car bookings with Capital One Travel℠ -- If you or your employees do much business travel, you can earn a lot of points on those hotel and rental car expenses.

No annual fee -- This card doesn't have an annual fee, making it a great way to keep costs down.

20,000-point sign-up bonus -- You'll receive this bonus, which can be worth $200 towards travel, after you spend $3,000 within three months of opening your account. The ratio between the bonus amount and the spending minimum isn't great on this card, as $3,000 is a lot to spend for a $200 bonus. Still, it's hard to argue with free money.

0% intro APR -- You get a 0% intro APR on purchases for nine months. If you have any pressing business expenses you'll need to pay off gradually, this card will save you money on interest.

No foreign transaction fees -- You won't pay an extra fee for foreign transactions that you charge to this card.

Free employee cards -- If you need to ensure that your employees can make purchases on behalf of the business, you can issue them their own cards free of charge. You can also set spending limits on employee cards.

Travel redemption options -- Transfers to travel partners can potentially provide good value, but Capital One's transfer options are lacking. It doesn't offer transfers to any of the major domestic airlines and the transfer ratio isn't the best. Depending on the travel partner, you'll receive one or 1.5 miles for every 2 Spark® miles you spend.

If you redeem them at a fixed rate, you can use them to book travel through Capital One or apply them as a statement credit towards previous travel purchases on your bill. This isn't a bad option, but it's essentially just a more limited form of cash back.

Learn more >> Best business credit cards

You should have an excellent credit score when applying for Capital One® Spark® Miles Select for Business. That means a FICO® Score of 720 to 850. It's possible to get approved with a lower credit score, but you're rolling the dice on whether you'll be approved or denied.

• You want a no-annual-fee business card that earns travel points
• Your business makes frequent hotel and/or rental car bookings
• You have expenses to finance that you'll be able to repay within nine months

The Capital One® Spark® Miles Select for Business is an excellent choice if you want a travel rewards card that doesn't charge an annual fee. You'll earn a good rate on all your purchases and you won't pay any foreign transaction fees.

The card is even better for businesses with high hotel or rental car spending because you'll be earning 5 miles per $1 spent on those. Even among cards with annual fees, there aren't many that earn 5 miles per $1 on any purchases.

With the 0% intro APR offer, this card can also help with short-term business financing. But before you use it for that, calculate how long it will take you to pay off those expenses in full. If it's going to be much longer than nine months, you should probably shop around for personal loans or business loans instead.