First Credit

Capital One Spark Miles Select for Business Review

Capital One’s business miles credit card range offers great value for money and some excellent benefits. The Capital One Spark (SM) Miles Select for Business credit card is aimed at business owners who are seeking to save money by having a credit card that charges fairly low interest rates, doesn’t charge an annual fee and offers generous rewards at the same time for every dollar spent everyday purchases. There is also a generous bonus scheme and an easy-to-redeem travel rewards program.

Only business owners with excellent credit rating need apply.

Introductory APR

There is a 0% APR offered until July 2012 and thereafter, depending on creditworthiness, customers are charged from 14.9% to 19.9% APR variable.

Rewards

Customers who use the Capital One Spark business miles credit card for everyday purchases can earn 1 mile for every dollar spent. In addition, the card issuer offers a 50% bonus on the miles a customer earns every year.

The reward points can be redeemed against travel, using any airline, on any seat at any time without blackout times or seat restrictions being applied. Customers are also allowed to choose merchandise, gift cards or cash instead of travel miles. The other good news is that the miles earned do not expire and there is no limit to the number one can earn. This represents excellent value for frequent business travellers.

It is easy to calculate how many points or “miles” are needed to redeem an airline ticket or other travel cost in full. All one has to do is to add two zeros to the price of the ticket or travel expense. If an airline ticket costs $200, the customer needs 20,000 “miles” to pay for the travel expense with reward points.

Other Business Benefits

At the end of each year Capital One provides its business card customers with a year-end summary to make the financial administrative procedure of working out expenses easier. The year-end summary can help with planning ahead for the next year, setting up budgets for purchases like business travel or office equipment. It also helps when working out tax issues.

Designated employees can also become cardholders at no extra cost and the business owner can set individual spending limits per card and employee to keep a tight reign on spending. Monthly statements allow tracking of an employee’s spending and there is a $0 fraud liability protection built in, so a business owner will not be held responsible for unauthorized charges, if their card – or their employees’ – is stolen, lost or used in any fraudulent way.

The benefits that come with having a Visa business miles credit card are also considerable. A business card holder gets auto rental collision damage waiver protection through the Visa program, can make savings on hotel bookings when using the Capital One Spark business miles credit card, get travel and emergency assistance like an emergency replacement card within 24 hours or get Visa dining discounts with selected participating partners.