Overview
- Capital One closed the Spark Miles card to new applicants and launched the Venture Business on Tuesday with a limited-time welcome offer.
- The offer grants 75,000 miles after $7,500 in three months and another 75,000 after $30,000 in six months, which sets a high spend bar for many small firms.
- The Venture Business keeps a $95 annual fee and adds two yearly credits worth up to $100 in total, plus a Global Entry or TSA PreCheck fee credit of up to $120 every four years.
- Cardholders earn 5 miles per dollar on hotels, vacation rentals and rental cars booked through Capital One Business Travel and 2 miles per dollar on other purchases, with miles redeemable at about 1 cent each for travel or transferable to many airline and hotel partners.
- Existing Spark Miles customers are not being moved to the new product and must apply to get the new credits and bonus, while the Spark Miles Select is being renamed VentureOne Business.