Ryans work has been featured by The Associated Press, USA Today and MarketWatch, and he previously co-authored the U.S. News & World Report Student Loan Ranger blog. Because you cant carry a balance on the Capital One Spark Cash Plus, there is no introductory offer of a 0% intro APR period. As your business expenses grow, so do the rewards you could earn from the Capital One Spark Cash Plus. You might be able to make free cash withdrawals from those locations. }(document, 'script', 'exco-player')); document.getElementById( "ak_js" ).setAttribute( "value", ( new Date() ).getTime() ); Same question: Does Capitol 1 report to personal credit reports? Businesses with big expenses can get a ton of value out of this unlimited 2% card. While credit card exchange rates normally also include foreign transaction fees, the Capital One Spark Miles for Business card does not charge foreign fees. Capital One Spark Cash Select - 0% Intro APR for 12 Months, annual fee of $0. The Spark Miles offers all kinds of other protection, including purchase security and extended protection (coverage on items lost or stolen within 90 days), travel and emergency assistance services, and more. The fees may generally be in the area of 3% of your purchase, though. Its true. 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. Capital One Spark Miles Business Card Review, Apply now for the Capital One Spark Miles for Business Card, Capital One Venture X Rewards Credit Card, Capital One Spark Miles Business Card Basics For March 2023, Redeeming Spark Miles Toward Travel Costs. Theres also a welcome bonus of $500 after spending $5,000 in the first 3 months, plus an additional $500 if $50,000 is spent in the first 6 months. The balance is due in full every month, so interest cant accrue. , not a credit card another notable difference from the. So, if youre spending overseas and across borders, you should seriously consider applying for one of these eight business credit cards with no foreign transaction feeseven if to simply supplement any other business credit card with foreign transaction fees you might already have. Some credit card issuers offer products that dont charge any foreign transaction fees. WebAnnual Fee $150 Purchase Rate No APR; you must pay off your balance in full every month to avoid a 2.99% late fee This card is a good fit for businesses that always pay in full and want flexible purchasing power. If a traveler uses their card to make a large international purchaseor several smaller purchasesthese fees could add up quickly. Capital One Spark 2% Cash Plus Credit Card Review. Some credit card issuers charge fees for credit card purchases made outside of the United States. Rates & Fees and Further Details. Sign-up bonus:Earn a $500 bonus when you spend $4,500 in the first 3 months of account opening. The card also has no foreign transaction fees. With unlimited 2% cash back on purchases, the Capital One Spark Cash Plus* is an excellent business cash-back card for those with strong credit. We do not offer financial advice, advisory or brokerage services, nor do we recommend or advise individuals or to buy or sell particular stocks or securities. $0. The Spark Miles has no foreign transaction fees, so its a great card to use for purchases abroad, as you can earn rewards all while not paying additional fees. . WHERE TO FIND THIS INFORMATION? This simple approach no rotating bonus categories to keep track of or spending caps to monitor makes it easy to earn rewards without having to think too much about it. The card has a $150 annual fee. var js, fjs = d.getElementsByTagName(s)[0]; Which redemption option makes more sense depends on your redemption patterns. Some cardslike Capital Ones U.S.-issued credit cards and 360 Checking account debit cardsdont charge foreign transaction fees. The Capital One Spark Cash Plus comes with a higher annual fee than its predecessor: $ 150 instead of $0 intro for the first year, then $95. So if someone has a card with a 4% foreign transaction fee, they could pay an additional $4 per every $100 they spend. Unlike a traditional card with a set limit, the amount you can spend adapts based on factors such as your purchase, payment, and credit history. Stay connected with the latest travel, aviation, and credit card news. In general, you have two major options for redeeming your Spark miles, which means that the card offers the equivalent of a return of two cents on the dollar toward travel, or up to two airline miles or hotel points per dollar spent. So consider exchanging currencies before you start traveling, especially if youre unfamiliar with the country youre traveling to. Were credit cards racecars, the wouldnt be out front. See the respective Guide to Benefits for details, as terms and exclusions apply. Start earning rewards on every purchase. The first step is to fill out this form. Capital One Spark Miles Select for Business,annual fee of$0. What About The No Annual Fee Spark Miles Select? NerdWallet's ratings are determined by our editorial team. And even though this business credit card with no foreign transaction fee will carry an annual fee of $95, the annual fee wont set in until your second year with the card. And while our site doesnt feature every company or financial product available on the market, were proud that the guidance we offer, the information we provide and the tools we create are objective, independent, straightforward and free. If you appreciate the simplicity of no rewards categories and have international suppliers or travel expenses, this card could generate significant cash back for your business over time, outweighing its annual fee. Thats why foreign merchants will sometimes offer to perform a dynamic currency conversion (DCC). WebSpark 2% Cash Plus adapts to your needs based on spending behavior, payment history and credit profile. Editorial Note: We earn a commission from partner links on Forbes Advisor. js.className = n; No foreign transaction fees The Capital One Spark Cash Plus has no foreign transaction fees, making it a fantastic card for purchases abroad. The Capital One Spark Cash Plus* has a similar sibling: the Spark Cash Select from Capital One*. Plus an annual $200 cash bonus when you spend $20,000 in a year. On the other hand, a business credit card with no foreign transaction fee thats not specifically meant for business travel might be harder to come by. If not, please advise how to convert to miles. You can use your two annual passes either for two separate visits just for you, or you can use them for a single visit with a guest. MORE: Best high-limit business credit cards. Its possible to convert Spark miles into airline miles in a variety of programs A vast majority of transfers are at a 1:1 ratio, giving you incredible flexibility. Learn more about FDIC insurance coverage. I have a the Cash Plus & Venture X. I dont see any option to convert my cash rewards to miles and speaking to a representative, it is not possible. Planning for foreign transaction and currency conversion fees on your trip? Some cardslike Capital Ones travel and miles rewards credit cardsdont charge foreign transaction fees and offer additional travel benefits. In addition to theCapital One Spark Miles, theres also the Capital One Spark Cash Plus(review). You must be at least 18 years of age and must be a legal U.S. resident. Rosalie Murphy is a small-business writer at NerdWallet. That potential total easily outpaces the card's annual fee of $150. Foreign transaction fees typically range from 1% to 4% of each transaction. Web access is needed to use Mobile Banking. 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. Wait, what? Here is a list of our partners. miles per dollar on all purchases, with extra rewards for travel purchases made through Capital One Travel. Card payment processors or ATM networks can charge currency conversion fees for converting a foreign purchase into U.S. dollars. The Capital One foreign transaction fee is $0 on all of its cards. That said, if your business has unreliable cash flow or if youre worried about potential dings to your credit score, a traditional business credit card might be a better fit than a charge card. And there may be fees for non-360 productslike Total Control Checking, Essential Checking and other productswhen you use an ATM outside of the U.S. and its territories. The remaining cards have a $0 annual fee. For every dollar you spend with this card, youll earn an even, unlimited 1.5% cash back. But merchants arent usually providing this service for free. Just charge the membership fee to your Capital One Spark Miles Card, and it will automatically be reimbursed. Cardholders can earn 5% cash back on hotels and rental cars booked through Capital One Travel, 4% cash back on dining, Ongoing rewards: Earn unlimited 2% cash back on every purchase, everywherewith no limits or category restrictions. Appreciate all the work you put into informing us, thank you! Already bought. Its also worth being aware of the no annual fee version of this card, the Spark Miles Select from Capital One. WebCons. This is a common benefit nowadays across many cards, but its still very valuable. If your business cash flow is robust, that might not be a problem. Capital One is one of the ten largest banks in the United States by deposits and is headquartered in Virginia. If youre hoping to use a new credit card to make a big purchase and then pay it off over several months, consider other options like the. You should check your cards terms and conditions to see what they are. Theres a lot of value to be had in getting the right business credit cards, as these cards can offer perks and rewards that you can leverage to get huge value, especially for travel. The Spark Miles Business Card offers a Global Entry or TSA PreCheck credit once every four years. If you're able to spend $200,000 on the card during the calendar year ($16,667 per month), you'll receive the $200 bonus which will offset the fee and put extra money in your pocket. Credit Score ranges are based on FICO credit scoring. Free employee cards, which also earn unlimited 2% cash back on all purchases, Earn a $200 cash bonus every year after spending $200,000 or more, Rewards wont expire for the life of the account, and you can redeem your cash back for any amount, Earn $500 after spending $5,000 in the first 3 months, plus an additional $500 if $50,000 is spent in the first 6 months, Its a charge card, so theres no APR but there is a late fee of 2.99%, $200 annual cash bonus when you spend $200,000 in a year. Getting ready to travel abroad? While we do try to list all the best miles and points deals, the site does not include all card companies or credit card offers available in the marketplace. Get 5X Membership Rewards points on flights and prepaid hotels on amextravel.com. This means you wont be charged extra anytime you use the Capital One Spark Miles for Business card outside of the United States. This compensation comes from two main sources. While these cards are marketed differently Venture miles and Spark miles theyre more or less the same for all practical purposes. Commissions do not affect our editors' opinions or evaluations. All ratings are determined solely by our editorial team. Despite the similar names, there are some key differences between the cards: There are pros and cons to each card. But if youre doing a lot of business spending abroad, this single fee could end up costing you majorly. But many businesses may find a credit card that earns slightly less or that has a spending cap will come with more valuable benefits, like an intro APR offer and the ability to occasionally carry a balance. Earn a one-time bonus of 20,000 miles equal to $200 in travel once you spend $3,000 on purchases within the first 3 months from account opening. You can even share your Spark and Venture miles with others, making these points really flexible. Limited Travel Partners for Rewards Redemption. The third parties listed are solely responsible for their products and services, and all trademarks listed are the property of their respective owners. Annual fee. No Foreign Transaction Fees. That card requires applicants to have at least $50,000 in the bank at all times to demonstrate their ability to pay, but it has no annual fee and doesn't require a personal guarantee. For entrepreneurs who need the reassurance of no foreign transaction fee as they invest in their business beyond the boundaries of the U.S., weve compiled a list of the top eight best small business credit cards that wont charge you for spending abroad. Read more. Earn unlimited 2% cash back on every purchase, everywherewith no limits or category restrictions. Plus an annual $200 cash bonus when you spend $20,000 in a year. Are you sure you want to rest your choices? $150. Compare that to spending $50,000 on the Capital One Spark Cash Select which would net just $750 cash back. Thats because a credit card with no foreign transaction fee will save the average user 3% on purchases processed abroad. For every dollar you spend with the card, youll earn 2x miles. If you put major purchases on your card regularly, you could earn hundreds or thousands of dollars in rewards each year. Late payments carry a 2.99% fee. Outside of banner ads published through the Boarding Area network, this compensation does not impact how and where products appear on this site. If your business does not qualify, please talk to your banker about alternatives, such as our commercial services, that may better suit your business needs. In fact, not only do you have to pay your bill in full at the end of every month, but youll also be charged a late fee of 2.99% of your outstanding balance and your account will be considered late until you pay off what you owe. After selecting the account you want to order checks for, you can select Account Services and Settings and Order Checks to place your checkbook order. If youre charged a currency conversion fee, you might find that its 1% of the purchase with both fees combined and referred to as the foreign transaction fee. So, based on what youre looking for in your no foreign transaction fee business credit cardbe it travel rewards, cash back, no annual fee, or access for those with average credithere are our top picks: In complete honesty, youre not going to have a tough time finding travel business credit cards. If you dont want to keep track of a cards spending categories or if your business expenses dont conveniently fall into those categories, then this card might be a good fit. Our content is not intended to provide legal, investment or financial advice or to indicate that a particular Capital One product or service is available or right for you. Its nice to not only get an industry-leading return on spending, but to get that same rate internationally without it Ask a branch associate for details. Checkbooks can be ordered by logging into your Capital One account. Also notable is the lack of earning limits: If your business spends big, you could earn big with the Spark Cash Plus. The Spark Miles offers primary car rental coverage, assuming youre renting for business reasons. The Spark Cash Plus differentiates itself among cash-back cards and business cards as a top-tier option by offering a generous welcome bonus and lack of foreign transaction fees. Capital One Spark Cash Select - 0% Intro APR for 12 Months. Other important information you need to know: How long does it take for my account to be open online, and when will I have access? This is an especially good complement to the Capital One Venture X Rewards Credit Card(review), which I know is getting many people into the Capital One mileage ecosystem. 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