Capital One Spark 1.5X Miles Select Review: Up to 5x Miles in Travel Rewards

The Capital One Spark 1.5X Miles Select card is a great no annual fee business credit card for no-hassle travel rewards. However, this card is notably lacking in some areas compared to similar credit cards. In this Capital One Spark 1.5X Miles Select review, you'll get a complete look at what the card does well and where it could improve.

This credit card is a good fit for: Travel enthusiasts who want to earn rewards on their business expenses without paying an annual fee.

Top perks

The perks for this card are competitive with other no annual fee options.

Unlimited 1.5 miles per $1

The Capital One Spark 1.5X Miles Select earns a flat rate of 1.5x miles per $1 on purchases. That rate is equal to many of the top no annual fee cards. You can also earn 5x miles per $1 on hotel and car rental bookings when you make them through Capital One Travel.

Each mile is worth $0.01 when redeemed toward cash travel purchases, and you can also transfer Capital One miles to its travel partners. Most transfers have a 1:1 rate, though a couple transfer at a lower rate. Once you transfer your miles to an airline partner, they become frequent flyer miles for that airline and can't be transferred back. Airline transfers are widely regarded as the best use of travel rewards as they can yield significant per-mile value when used wisely.

Read more: Best Airline Credit Cards

No annual or employee card fees

This card doesn't have an annual fee, making it a great way to keep costs down. It's also a nice option for businesses without a lot of annual expenses, as even if you're not using your card much in any given month, you're not losing money on annual fees.

Additionally, employee cards have no annual fees. So, if you need your employees to 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, which is a helpful security feature we like to see in the best business credit cards.

50,000 miles welcome bonus

You'll receive this bonus, which can be worth $500 toward travel in the Capital One portal, after you spend $4,500 within 3 months of opening your account. This is competitive with similar no annual fee business cards, though not the best sign-up bonus we've seen. The spending requirement may be a little high for some smaller businesses, but it's more attainable than the spending requirement for many higher-value bonuses, which can easily reach $7,500 or more.

No foreign transaction fees

You won't pay an extra fee for foreign transactions that you charge to this card. This is a valuable perk for a travel rewards card, as foreign transaction fees can add 3% onto any purchases made in a foreign currency (non-U.S. dollars). But you don't need to travel to take advantage of a card with no foreign transaction fees. It's also great for domestic transactions that route through foreign banks, such as making purchases from a foreign supplier.

For more options, take a look at our picks for the best Capital One credit cards.

What could be improved

The downsides to this card are important to consider.

Limited bonus categories

The best travel rewards credit cards come with multiple bonus rewards categories, at least one of which tends to be a general travel category. The Capital One Spark 1.5X Miles Select has a single bonus category and it's pretty limited. While you can earn 5x miles per $1 on hotels and rental cars, the rate applies only if you book through Capital One's travel portal.

This could be a big issue for anyone with a preferred hotel brand since booking through a travel portal is considered a third-party booking. As such, you won't get any of the perks or status points you'd normally get by booking through the hotel itself. It also means you can't shop around for the best rate as you would with other third-party booking platforms.

Personal guarantee required

You may notice when you apply for the Capital One Spark 1.5X Miles Select that it asks for your personal information. That's because Capital One will check your personal credit as part of the application process. Most business cards, including the Capital One Spark 1.5X Miles Select, come with what's known as a personal guarantee. Basically, you need to agree that you'll share responsibility for the credit card account with your business. Even if your company goes out of business, you still need to pay off your Capital One Spark 1.5X Miles Select. If not, your personal credit could be damaged, and the bank can come after you for the debt.

See more: Best Cash Back Business Credit Cards

You should have an excellent credit score, which means a FICO® Score of 700 or higher, when applying for the Capital One Spark 1.5X Miles Select. It's possible to get this card with a lower credit score, but you're rolling the dice on whether you'll be approved or denied. However, your credit score isn't the only factor. Capital One will look at your entire credit profile -- and that of your business -- when evaluating your application.

See more: Best Credit Cards

The Capital One Spark 1.5X Miles Select is an excellent choice if you want a travel rewards card for your business that doesn't charge an annual fee. You'll earn a good rate on your purchases and you also won't pay any foreign transaction fees.

The limited bonus categories and lack of a 0% intro APR offer may be sticking points for some cardholders, however. If you're one of them, check out our list of credit card reviews for other options.

Our credit card methodology

At The Motley Fool Ascent, we rate credit cards on a five-star scale (1 = poor, 5 = best). Our rating criteria includes rewards rates, welcome bonuses, fees, and perks like travel credits and 0% intro APR offers to evaluate our ratings.

We combine these factors with an evaluation of brand reputation and customer satisfaction to ensure you're getting the best card recommendations. Learn more about how The Ascent rates credit cards.