My Capital One Spark Miles credit card helps me grow my small business

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I’ve been an entrepreneur for seven years, running a small business on my own. Not only am I the brain of the company, I am constantly thinking about how to innovate and improve myself, but I am also the person responsible for the books.

While I don’t do my own bookkeeping (I pay a CPA that’s worth every penny), I am responsible for the cash flow of the business, bring in new clients and money every month, and I ensures that my bills are paid over time.

For the most part, I have been able to keep the business afloat without any major financial problems. But the pandemic changed everything. All of a sudden my industry (the wedding industry) took a hiatus and I lost a lot of potential clients virtually overnight. I still had business expenses and bills to pay and needed to find ways to save money and keep things alive financially.

Read more: How the pandemic permanently changed my credit card rewards redemption strategy

While I have found a few ways to achieve this (from getting out of virtual services to staying on a tight budget and reducing unnecessary expenses), I have relied on some major benefits of my credit card for m ‘help grow my business and save money every month.

Here are four of those key benefits I received from using my Capital One Spark for Business Miles.

Capital One Travel Booking Benefits

Annual subscription

$ 95, exempt the first year

Regular APR

Variable APR of 20.99%

Featured Reward

50,000 miles once you spend $ 4,500 on purchases in the first 3 months

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  • Advantages and disadvantages

  • Details


  • Advantages
    • No bonus category to follow
    • Annual fees are waived for the first year
    • You can redeem miles to clear travel purchases from your statement, or you can transfer to various airline and hotel programs
    The inconvenients
    • Information relating to Capital One Spark Miles for Business has been collected by Business Insider and has not been reviewed by the issuer.
    • Earn a one-time bonus of 50,000 miles – equal to $ 500 of travel – once you spend $ 4,500 on purchases within the first 3 months of account opening
    • Earn unlimited 2X miles per dollar on every purchase, anywhere, with no category limits or restrictions, and miles will not expire during the life of the account
    • Transfer your miles to more than 15 loyalty programs
    • Redeem your miles instantly for any travel related purchase, from flights and hotels to ridesharing services
    • Hover over security with statement credit for the $ 85 TSA PreCheck® application fee or the $ 100 Global Entry application fee
    • Annual introductory fee of $ 0 for the first year; $ 95 after that
    • Free employee cards that also earn 2X unlimited miles from their purchases

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    One of the biggest puzzles in my business has to do with travel. I often go to weddings across the country, but due to the pandemic my travel plans often change at the last minute.

    At least five times in the past year I have had to book a hotel and flight with less than two weeks notice. Booking travel has always been a major business expense, but one of the perks of my Capital One Spark Business Miles is the access I get to the new Capital One Travel portal.

    Read more: How to Earn, Redeem & Maximize Capital One Miles

    Not only does the portal provide me with perks like price prediction, price freezing, and price drop protection (to make sure I get the best deal on my trip), it also allows me to pay flights, hotels and rental cars with a combination of miles and cash.

    I am also able to cancel a trip on the portal, up to 24 hours in advance, when weddings are postponed or suspended, and I receive a refund of 80% of the ticket (which is better than what most airlines offer).

    Redeem miles for cash

    After accumulating a lot of unused miles on my Capital One Spark for Business miles in 2020, I entered 2021 with a plan to convert some of those miles, each month, into cash to help reduce my account balance or to purchase. gift cards, which I use to pay for business expenses or to give to customers.

    Learn More: 5 Credit Cards That Let You Redeem Rewards As Cash Back On Your Billing Statement

    It helped me during times when my cash flow was low and I didn’t want to have debt on my credit card.

    A Capital One mile converts to 0.8 cents when converted to gift cards and 0.5 cents when converted to cash.

    Spring and Capital One Shopping

    One of the most used perks that I have used with my Capital One card is for purchases. As a business owner, I spend money on business tools and platforms (Dropbox, VistaPrint,


    Zoom

    , HelloSign, etc.) and purchase annual subscriptions with them. Spring of Capital One The service offers credit card users big discounts on these services (15-50% on annual subscriptions). It saved me a few hundred dollars this year on tools that I already use.

    Read more: Your credit card could give you cash back or bonus rewards on your purchases. Here’s how to find and activate these offers

    Also, through Shopping in the capital, I have access to a browser extension that provides me with discount codes and coupons when I buy from different ecommerce sites. It also saved me hundreds of dollars and almost never bought anything overpriced.

    Fraud protection

    As a busy business owner, I try to check my credit card statement weekly to make sure all of my purchases match my receipts. There have been several times this year that my card’s fraud protection has been activated.

    When my credit card was stolen and over $ 100 in fraudulent charges appeared on my statement, Capital One was quick to cancel the card, remove the fraudulent charges, and send in an emergency replacement.

    Read More: Credit Card Fraud Is On The Rise, But You Can Protect Yourself By Taking 5 Simple Steps

    There were also many times when I went to buy something that I don’t use the card frequently for when Capital One put that transaction on hold until I verified it was actually me. . While this gives me the added step of having to verify the purchase before buying it, I still appreciate the caution that Capital One Spark Miles for Business provides me as a business owner.

    Featured business cards from our partners

    Featured Reward

    120,000 Membership Rewards® points after spending $ 15,000 on qualifying purchases with your card during the first 3 months of card membership

    Credit needed

    Good to Excellent

    Featured Reward

    15,000 Membership Rewards® points after spending $ 3,000 on qualifying purchases on the card in the first 3 months of card membership

    Credit needed

    Good to Excellent

    Featured Reward

    100,000 points after spending $ 15,000 on purchases in the first 3 months after opening the account

    Credit needed

    Good to Excellent

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