Cutting your reward value in half is a tough idea to swallow, but it can be a viable option when your budget is tight or you dont have time to take a vacation. 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. These editors thoroughly edit and fact-check the content, ensuring that the information is accurate, authoritative and helpful to our audience. Capital One Spark Cash Select - $500 Cash Bonus. 1Redemption rates vary and are subject to change without notice. Please view our advertising policy page for additional details about our partners, Miles post to your account the same time as your purchase, This even applies to welcome bonuses on cards, Capital One miles can be transferred to Air Canada Aeroplan, and you can redeem Aeroplan points for travel on any of the over two dozen Star Alliance airlines (including United Airlines), plus airlines like Air Mauritius, Air Serbia, Azul, Etihad, Gulf Air, Vistara, and many more, Capital One miles can be transferred to Air France-KLM Flying Blue, and you can redeem Flying Blue miles for travel on any of the nearly two dozen SkyTeam airlines (including Delta Air Lines), Capital One miles can be transferred to Cathay Pacific Asia Miles, and you can redeem Asia Miles for travel on any of the over dozen oneworld airlines (including American Airlines), Study the loyalty program transfer options that Capital One is offering, Look at their respective award charts to understand how many miles are required, Find out what partners these loyalty programs have beyond their home carrier, so you know which airlines you can redeem on, Try to search availability for yourself to get a sense of how many award seats there are; sometimes this can be done directly on the loyalty programs website, while in other instances you have to call, Once youve verified theres availability and have verified the price (both in terms of miles and cash), transfer your Capital One miles to the loyalty program, Airline award availability iscapacity controlled and subject to change, so youll want to book as quickly after finding the award availability as possible, If your plan is to book a hotel room, check to make sure the property you are looking at has availability on the dates you need, Dont transfer points to a partner until youre ready to book and know exactly what you want to redeem for. On the low side, points are worth only half a cent each when redeeming as cash back. This can be especially useful for international travelers, although it's important to note that the transfer ratio is not always 1:1. Capital One rewards points vary in value depending on the type of redemption you choose. Since the Travel Center isnt affiliated with specific airlines or hotels, youll have access to your choice of airlines and properties, including those that arent direct transfer partners. With this option, you can often get the full point value of 1 cent per mile. It has not been provided or commissioned by the credit card issuers. His experience spans Financial Services, Enterprise Resource Management, Networking Research, and work in the Federal Government. For business owners who travel frequently, the, The card also comes with useful perks, including a. The Capital One Spark Miles card offers a $100 credit for Global Entry or TSA PreCheck, plus two complimentary visits to Capital One airport lounges each year. The beauty of Capital Ones travel ecosystem is that cards offer an excellent return on everyday spending, and Capital One miles are also incredibly flexible. Learn more about FDIC insurance coverage. Among the two travel cards, Spark Miles offers higher rewards than Spark Miles Select, along with an annual fee after one year. Senior Writer/Spokesperson | Personal finance, budgeting, family finances, Kimberly Palmer is a personal finance expert at NerdWallet. But if you routinely spend more in specific categories, other cards can be more rewarding. Card advice 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. Just keep in mind that offers are targeted and might change by the cardholder. Among the three cash-back cards, Spark Cash is the most premium, followed by Spark Cash Select. People also ask There are even more ways you can redeem your cash back or miles to help cover your everyday expenses. What I don't like is the CapitalOne Travel website. We love our Venture X and Venture Business cards. Credit Score ranges are based on FICO credit scoring. Their program excels in simplicity when it comes to earning and offers a few cards with no annual fee, making it ideal for anyone dipping their toe in the travel rewards water. Essential reads, delivered straight to your inbox. the "Apply Now" button, you can review the credit card terms and conditions on the issuer's web site. The Capital One Shopping Privacy Policy can be found at capitaloneshopping.com/our-terms/privacy-policy. But you can also transfer miles to one of more than a dozen travel partners. 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. And if it's cash back you're interested in, you'll want to look elsewhere. Tap your rewards cash amount at the top of the screen, or scroll down to Redeem Rewards. Capital One Spark Miles Select for Business,annual fee of$0. Here are other things you should know: Your rewards are yours for the life of the accountthey will not expire. It offers an intro 0% intro APR on Purchases for 12 months, and then the ongoing APR of 17.74%-25.74% Variable APR. How Much Are Capital One Miles Worth Now? Keep in mind that its better to charge your credit card for Travel Center purchases, because you will earn miles on the purchase. 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. Many miles transfer instantly but its possible to have a three to five day wait time to see your rewards in the transferred program. NerdWallet Compare, Inc. NMLS ID# 1617539, NMLS Consumer Access|Licenses and Disclosures, California: California Finance Lender loans arranged pursuant to Department of Financial Protection and Innovation Finance Lenders License #60DBO-74812, Property and Casualty insurance services offered through NerdWallet Insurance Services, Inc. (CA resident license no. 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. Yes, the spend requirement is steep if you want to earn the total 200,000 . 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. While Capital One miles transfer to most airline partners at a 1:1 ratio, note that we sometimes see transfer bonuses, whereby they transfer at a better rate for a limited time. Since 2004, CreditCards.com has worked to break down the barriers that stand between you and your perfect credit card. However, when you use the Capital One portal, youll be able to make payment via your rewards. Other potential perks. With Capital One Spark Cash Plus, you'll earn a flat rate of 2% cash back on every purchase. When you transfer your miles to a partner rewards program, youll either get 1 partner mile for every 1 Capital One mile, 1.5 partner miles for every 2 Capital One miles or 1 mile for every 2 Capital One miles. Capital One also has a list of more than 15 travel partners to which cardholders can transfer their miles. Lets start by covering everything you need to know about earning Capital One miles which credit cards earn Capital One miles, whats the difference between Venture and Spark miles, and more. The opportunity cost of 85,000 Capital One miles would be an $850 travel purchase with statement credits. However, this does not influence our evaluations. Spark Cash Plus. The Capital One Spark Classic offers a flat 1% cash back on every purchase you make. The reason this redemption option is so popular is that there are no hoops to jump through you dont have to worry about airline or hotel blackout dates when redeeming points, and you dont even have to book through a specific portal. Capital One VentureOne Rewards Credit Card, Capital One Venture X Rewards Credit Card, Capital One Spark Miles Select for Business, Sign up for Capital One rewards cards to earn intro bonuses, Keep an eye out for referral bonus offers, Use your Capital One rewards card for most of your purchases, Booking travel through the Capital One Travel Center, Transferring miles to a Capital One travel partner, Capital One Platinum Credit Card benefits guide, Credit score required for the Capital One SavorOne Cash Rewards card, See more The annual fee is $0. If your budget is tight, your Capital One rewards could make covering some everyday expenses more manageable. Explore a cash back rewards card that allows you to earn back a percentage of every purchase. In addition to being able to redeem them for one cent each toward the cost of virtually any travel purchase by redeeming miles for statement credits, you can also transfer them at a 1:1 ratio to over a dozen airline frequent flyer programs, which is where youll really get outsized value. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within listing categories. is a senior editor at CreditCards.com, focusing on product news and recommendations. Becky Pokora is an avid traveler with a particular love for the outdoors. Capital One Spark Cash Plus Card Earn up to a $1,000 cash bonus; $500 once you spend $5,000 in the first 3 months, and $500 once you spend $50,000 in the first 6 months of account opening. 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. All Capital One rewards cards offer competitive sign-up bonuses. 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? But like all Capital One cards, the Capital One Spark Miles for Business doesn't charge this fee. If you want to redeem points, for example, you may be able to choose whether to receive a $15 gift card or cover a $25 charge on your account. With both airlines and hotels, this means you could take advantage of elite perks and earn points. It's that simple. Capital One partners with dozens of different gift card brands, including retailers and restaurants nationwide as well as everyday staples like gas stations and grocery stores. One downside to redeeming Capital One miles is that you lose some value if you redeem your miles for Amazon purchases, statement credit or a check. In the case of Capital One: In an age where people love instant gratification, that sure is a nice feature, as you can redeem your rewards toward travel almost instantly. Another option is to use them for qualifying travel-related purchases, from flights and hotels to ride-sharing services. Youll earn miles faster without increasing your monthly spending. Earn unlimited 1.5% cash back on every purchase with no minimums or expiration date. Cardholders can choose between transferring to more than fifteen partner loyalty programs or redeeming miles toward travel at a fixed rate to avoid blackout dates and other limitations. If you just can't stomach an annual fee, however, consider the no-fee "Select" version of this card the Capital One Spark Miles Select for Business. You can apply your rewards directly toward your account balance as a statement credit.2. The opportunity cost of 55,000 Capital One miles would be a $550 travel purchase with statement credits. Transfers to most partners are instant, though for some partners, it can take anywhere from a few hours to a few days. Copyright 2023 CreditCards.com a Red Ventures Company. From there, you can select the amount youd like to redeem and how youd like to do it. Nothing contained herein shall give rise to, or be construed to give rise to, any obligations or liability whatsoever on the part of Capital One. Capital One Shopping is available even if youre not a Capital One cardholder.5. When you click on The information for the Capital One Spark Miles Select has been collected independently by The Points Guy. Consider a points program that allows you to redeem points for discounts or gift cards with major vendors. The other benefits for air travel reimbursement, car rental primary insurance, lounge access, and others are substantial. by Ben Luthi. See more about our ethics policies here. Emily Sherman The Capital One Spark Classic for Business, which . Another option is to use them for qualifying travel-related purchases, from flights and hotels to ride-sharing services. 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. Pre-qualified offers are not binding. Business credit cards offer many benefits, from streamlining your vendor payments to simplifying your expense management to providing cash flow management and float for your business. Rewards Earning Details. We love our Venture X and Venture Business cards. Both of these options only get you 0.5 cents per mile half the standard value. Lets face it theres a lot of jargon and high-level talk in the credit card industry. As is common for flat rate cash back cards, the Spark Cash Plus doesn't offer any luxury perks.Still, the card comes with a few valuable benefits, including no preset . These are provided as guidelines only and approval is not guaranteed. The mileage bonuses and earned miles allowed me to purchase an RT business class seat for my wife on Singapore Airlines from SFO to SIN (This was before Singapore's recent mileage devaluation). Rewards Earn unlimited 5% cash back on hotels and rental cars booked through Capital One Travel. This can stretch your Capital One miles even further. This way you can get 2:1.5/2:1 transfer ratio for your miles. This can make a huge difference in how many flights you can afford on rewards alone. You can get cash advances up to your available cash limit. 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. See the respective Guide to Benefits for details, as terms and exclusions apply. Terms apply. While that rate is underwhelming compared with some of the best business credit cards . Id say this is especially true if you primarily travel domestically, and are happy flying economy and staying at reasonably priced hotels. 2023 Forbes Media LLC. This is just one scoring method and a credit card issuer may use another method when considering your application. 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. The comments on this page have not been provided, reviewed, approved or otherwise endorsed by any advertiser, and it is not an advertiser's responsibility to ensure posts and/or questions are answered. What airlines & hotels can you transfer Capital One miles to? Annual. Capital One Spark Miles Select for Business. This may influence which products we review and write about (and where those products appear on the site), but it in no way affects our recommendations or advice, which are grounded in thousands of hours of research. Use Capital One's travel portal to book travel. Apply now for the Capital One Venture X Rewards Credit Card, Capital One Venture X Rewards Credit Card, Basics of the Capital One mileage program. When evaluating offers, please review the financial institutions Terms and Conditions. While the ability to convert Venture and Spark miles into airline and hotel points is exciting, there are still going to be plenty of circumstances under which you get a better deal using the statement credit redemption method. Put $10,000 a month in inventory purchases on the card, for example, and you're looking at 240,000 miles at the end of the year good for $2,400 worth of travel. Please try again later. When it comes to flexible points, Capital One offers a strong rewards program for travelers and non-travelers alike. Link your eligible rewards card to your PayPal account and apply your miles or cash back on eligible purchases when you check out at millions of places online, like Target, Apple and The Home Depot. From industry experts to data analysts and, of course, credit card users, were well-positioned to give you the best advice and up-to-date information about the credit card universe. 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, Earn unlimited 2X miles per dollar on every purchase, everywhere, no limits or category restrictions, and miles won't expire for the life of the account, Unlimited 5X miles on hotels and rental cars booked through Capital One Travel, Transfer your miles to 15+ travel loyalty programs, Redeem your miles instantly for any travel-related purchases, from flights and hotels to ride-sharing services, Fly through security with one statement credit for either the $85 TSA PreCheck application fee or the $100 Global Entry application fee, $0 intro annual fee for the first year; $95 after that, Free employee cards which also earn unlimited 2X miles from their purchases, American Express Blue Business Cash Card, offers 2% cash back on eligible purchases on up to $50,000 in spending per year (1% back after that). That way, you can go hunting for travel deals and still take advantage of your miles, as long as you redeem within 90 days of the purchase date. However, these types of redemptions are only worth 0.5 cents per point, making them a poor value. The option still exists today, providing customers a surefire way to redeem their rewards without a dose of frustration on the side. card is much less complex. Attempts to buy airline tickets, hotels, or car rentals are often either impossible or substantially overpriced compared to anywhere else. He also built a successful freelance writing and editing practice with a focus on business and personal finance. Updated April 20, 2022. The third parties listed are solely responsible for their products and services, and all trademarks listed are the property of their respective owners. This rewards card is a favorite among foodies and entertainment fans, but youll need a good to excellent credit score to qualify. Your rewards are yours for the life of the accountthey will not expire. When you consider that some Capital One cards earn 2x miles on everyday purchases, to me these cards offer an incredible 3.4% return on everyday spending. My own paid ticket was $4,320. Our star ratings serve as a general gauge of how each card compares with others in its class, but star ratings are intended to be just one consideration when a consumer is choosing a credit card. To maximize your business credit card rewards, consider the following: Introductory offers. After all, thats Capital Ones oldest redemption feature, and what initially set the card issuer apart on the travel front (no blackout dates!). 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. However, frequent flyers of Aeroplan (Air Canada), Air Portugal, Avianca, British Airways, Etihad, Flying Blue (Air France-KLM) and Singapore Airlines can get great value. 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