card is much less complex. Lets face it theres a lot of jargon and high-level talk in the credit card industry. Read how Antonellis Cheese Shop used their cash back rewards to pay for employee health insurance. It earns only 1.5 miles back on all purchases, but its annual fee is $0. If youve been a longtime Capital One customer, odds are that youre used to redeeming your miles for statement credits toward travel purchases. Yes, the spend requirement is steep if you want to earn the total 200,000 . For business owners who travel frequently, the, The card also comes with useful perks, including a. If you just can't stomach an annual fee, however, consider the no-fee "Select" version of this card the, It earns only 1.5 miles back on all purchases, but its annual fee is, . But you can also transfer miles to one of more than a dozen travel partners. Since all transfers are final, its important to have a specifically intended use for your rewards before initiating the transfer. $720. He has a bachelor's degree in journalism and a Master of Business Administration. While the terms of business rewards credit cards can differ among credit card issuerssuch as when they can be earned or redeemedthe types of rewards generally remain the same. If you spend above $19,000 a year, the rewards you'd earn at a 2X rate would top a 1.5X rate, even taking into account the annual fee on the, It earns 2% cash back on eligible purchases, but only up to $50,000 in spending per calendar year (1% back after that). So how do we make money? No foreign transaction fees, Credit toward Global Entry or TSA PreCheck, Free employee cards, Credit toward Global Entry or TSA PreCheck application. It doesnt get easier than that. The other benefits for air travel reimbursement, car rental primary insurance, lounge access, and others are substantial. Amazon.com and the smile logo are trademarks of Amazon.com Inc. or its affiliates. With a large portfolio of cards to choose from and flexible redemption options, Capital One can be a compelling solution for cardholders. The full list is covered above. To use this feature, the transaction must be classified by the merchant as a qualifying travel category, such as airfare, hotel stays or a cruise. Please review our list of best credit cards, or use our CardMatch tool to find cards matched to your needs. Then, choose a redemption amount and redemption method to complete the process. Since Capital One Rewards are flexible points, cardholders have multiple types of redemptions to choose from. Information provided on Forbes Advisor is for educational purposes only. He was an editor with USA Today, The Des Moines Register and the Meredith/Better Homes and Gardens family of magazines for more than 20 years. Plus, earn a 50,000 miles bonus when you spend $4,500 in the first 3 months. This compensation comes from two main sources. Transfer rates vary by partner, with most at a 1-to-1 ratio, meaning 1 Capital One mile is equivalent to 1 point or mile with the travel loyalty program. 3Amazon.com Shop with Points available for eligible Venture X, Venture, VentureOne, Savor, SavorOne, Quicksilver, QuicksilverOne, Journey, and business rewards cards like Spark Cash, Spark Cash Select, Spark Miles, Spark Miles Select and Spark Classic with accounts open and in good standing. The Capital One Travel Center is an online travel agency (OTA), which works similarly to the interfaces youre already familiar with at sites like Expedia or Priceline. $810. With Capital One your rewards never expire. It earns 2% cash back on eligible purchases, but only up to $50,000 in spending per calendar year (1% back after that). Those business categories include shipping; internet, cable and telephone services; and advertising purchases with social media sites and search engines. Keep in mind that its better to charge your credit card for Travel Center purchases, because you will earn miles on the purchase. CreditCards.com does not include the entire universe of available financial or credit offers.CCDC has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover. 1.5% cash back on all purchases; 5% cash back on hotels and rental cars booked through Capital One Travel. Keep an eye on your inboxwell be sending over your first message soon. When redeeming points this way, youll get a flat 1 cent per point in value. You can redeem miles for gift cards, cash back and more, but usually at a lower value per point, and we don't recommend it. Cash advances, balance transfers, and checks used to access your account are not considered purchases and will not earn rewards. Others work out to 2-to-1.5 or 2-to-1, meaning your rewards wont stretch quite as far. The reality is that these currencies are basically the same Venture is the name of Capital Ones mileage currency on personal credit cards, while Spark is the name of Capital Ones mileage currency on business credit cards. Capital One Spark Miles for Business, annual fee of$0 intro for the first year, then $95. These points have the same redemption values toward travel, and can be combined if you have both personal and business cards. Updated April 20, 2022. Total. All Capital One rewards cards offer competitive sign-up bonuses. When evaluating offers, please review the financial institutions Terms and Conditions. Whether you book through the Capital One Travel Center or an outside travel site, you get the same value for each reward mile. To redeem your Capital One Spark Business rewards, log in to either the Capital One website or the mobile app, and navigate to the rewards summary. Then, at checkout youll see an option to redeem points toward some or all of your purchase, but usually at less than 1 cent per point. The annual fee is $0. To view rates. When you use your miles to book travel through Capital One Travel, you can choose to redeem for any portion of the purchase. Paying off your balance before youre charged interest is a good way to make sure you get the most value from the rewards you earn. You can also redeem your Capital One points for live events, like sports, dining and music events, via the Capital One Entertainment platform, which is available through the Capital One mobile app or by going to entertainment.capitalone.com. Earn a one-time bonus of 50,000 miles equal to $500 in travel once you spend $4,500 on purchases within the first 3 months from account opening. If you have Capital One miles and are looking to travel to Orlando for spring break on Frontier Airlines or Spirit Airlines, the statement credit feature might be the best option you can just buy your ticket as you usually would, and then have the cost reimbursed. Heres a quick breakdown of what your miles are worth with each Capital One transfer partner. With the right credit card, a customer can get away with a single card in their wallet and still take advantage of strong earnings and a wide variety of redemption options, including some with no strings attached. Rewards. Because airline loyalty programs, in many cases, have multiple airline partners as well. Enrollment required. She lives in Austin, Texas. ADVERTISER DISCLOSURE CreditCards.com is an independent, advertising-supported comparison service. For Capital One products listed on this page, some of the above benefits are provided by Visa or Mastercard and may vary by product. 2 miles per dollar spent on all purchases. You can also transfer miles to one of more than a dozen airline and hotel programs, but not always at a 1:1 ratio. Another option is to use them for qualifying travel-related purchases, from flights and hotels to ride-sharing services. Best of all, both cards have no foreign transaction fees. If you frequently travel internationally with your business, or if you buy inventory while abroad, that could get expensive for both yourself and your employees. The benefit of converting Capital One miles into airline miles is that often the cost of a ticket when paying cash isnt correlated to the cost of a ticket when redeeming points. The editorial content on this page is based solely on the objective assessment of our writers and is not driven by advertising dollars. The Capital One Venture Rewards Credit Card, Capital One VentureOne Rewards Credit Card, Capital One Spark Miles for Business and Capital One Spark Miles Select for Business let you redeem your miles for one cent each as statement credits towards any travel purchase you've made within the last 90 days. If paying cash, that ticket would have cost thousands of dollars. Redemption options can be equally easy if you choose to redeem for travel at a flat rate, with the possibility of outsized value for cardholders willing to learn the ins and outs of travel partners. If you expect you'll want cash back, consider a cash-back credit card. Regardless of the reward type, there are other aspects to consider when creating a rewards and spending strategy. Most helpful comments ( as chosen by the OMAAT community ). Those miles are easy to redeem, too. And if you use the card for working capital, it can really supercharge your earning. How to maximize your Capital One Venture Rewards Credit Card, Credit score needed for the Capital One Quicksilver Cash Rewards card. Points are worth a penny each when redeemed for cash, and 25% more when redeemed for travel through, If youre looking to finance business purchases upfront, youll also want to turn to another card. You can redeem miles for any airline, hotel or vacation package purchase at a rate of a penny per mile, and there are no blackout dates or restrictions on when or how you travel. Capital One Spark Cash Select - 0% Intro APR for 12 Months. NerdWallet reviews credit cards with an eye toward both the quantitative and qualitative features of a card. You can redeem all your rewards at once if you want to. However, there are a few situations when transferring can get you more for your mile since some airline rewards points are worth a bit more. Tiered versus flat-rate rewards. By referring a friend to a Capital One rewards card, you could earn up to $500 per year. Are you sure you want to rest your choices? Are you better off redeeming Capital One miles toward the cost of a travel purchase, or converting Capital One miles into points with partner programs? Simply choose the amount of the charge you want to use miles for, and it will be awarded to your account as a statement credit. Across all Capital One rewards cards, cardholders have no limits to the number of miles they can earn. The amount of flexibility youre getting with your miles here is huge, so look beyond the airline transfer partners as such. Redemption options. Even the Ink Business Premier Credit Card is a good option if you want flat-rate cash back (up to 2.5% back) and are willing to pay a $195 annual fee. With the Capital One Spark Miles for Business card, your sign-up bonus is worth up to $500 in travel (when you spend $4,500 in the first three months). 2Account credits lower your account balance but do not count toward your minimum monthly payment obligation. All Rights Reserved. Among the three cash-back cards, Spark Cash is the most premium, followed by Spark Cash Select. If you are a Capital One rewards credit card customer, you canview and redeem your awardson your Redeem Rewards page. How Much Are Capital One Miles Worth Now? Here is a list of our partners. Although transferring rewards to partner programs offers incredible flexibility, it also means the value of your rewards is highly variable depending on how you redeem your newly-transferred miles. The best Capital One cash back credit card is the Capital One Savor Cash Rewards Credit Card because it offers an initial bonus of $300 for spending $3,000 in the first 3 months. If youre a small-business owner looking for a flexible and straightforward travel rewards card, the Capital One Spark Miles for Business could be a great fit. This way you can get 2:1.5/2:1 transfer ratio for your miles. Capital One miles are incredibly flexible, and can be redeemed either toward the cost of a travel purchase (for a statement credit or through the Capital One Travel portal), or they can be transferred to partner airline and hotel loyalty programs. Heres the full list of 18 Capital One transfer partners, which includes 15 airline programs and three hotel programs: The process of transferring Capital One miles to airline and hotel partners is really easy, and can be done directly on Capital Ones website. By. Spark Cash Select - $500 Bonus. Capital One rewards can be transferred to more than a dozen airline and hotel partners. Additionally, you can book flights through the Capital One travel center at a rate of 1 cent per point, which provides access to additional airlines without blackout dates or other travel restrictions. Theres no limit to the amount of rewards you can earn and they never expire, but you will lose them if you ever close your account. Capital One also limits the number of cards you can have open with it. You can optionally convert them to partnering frequent flyer miles, book travel through the Capital One travel center, redeem as cash back or gift cards or select other redemption choices. These rewards are added to your account balance until you choose to redeem them. If that balance of clarity and flexibility sounds up your alley, heres what you need to know about Capital One miles. Like all rewards credit cards, youll earn Capital One Rewards by making eligible purchases charged to your Capital One card. Since some Capital One cards earn 2x miles per dollar spent, the cards essentially offer two airline miles per dollar spent, which is a phenomenal return on everyday spending. And if you're more interested in cash back, this is not the right pick for you. If youre a cardmember who is used to that, the number of hoops you have to jump through to redeem airline miles might come as a surprise. 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