Update 2/2/23: The ‘Spark Travel Elite’ business card has now been rebranded to the ‘Venture X Business’ card. All other details are the same, including the signup bonus and the fact that you need a relationship manager to apply for the card. (ht MtM)
Update 7/21/22: Capital One has confirmed this card won’t report to your personal report. Capital One provided the following statement: “note for new Spark Travel Elite customers, Capital One will not report to personal credit bureaus as long as an account remains in good standing”
Original Post:
Capital One has launched a new premium business card called ‘Spark Travel Elite’ and it has launched with a sign up bonus of 250,000 miles. Unfortunately you can’t apply for the card directly, you need a relationship manager to be able to apply but the card will be open to more soon.
Contents
Card Basics
- Annual fee of $395
- Sign up bonus of up to 250,000 points. Broken down as follows:
- 50,000 miles after you spend $10,000 within the first three months
- Additional 200,000 miles (total of 250,000) when you spend $50,000 within the first six months
- Card earns at the following rates:
- 10x miles on hotels and car rentals when booking through Capital One’s travel portal
- 5x miles on flights when booking through Capital One’s travel portal
- 2x miles on all other purchases
- 10,000 miles anniversary bonus
- $300 annual travel credit for bookings through Capital One’s travel portal
- Lounge access:
- Priority pass lounge access
- Capital one lounge access
- $100 TSA PreCheck or Global Entry credit every 4 years
- Existing Spark cardholders can apply for Spark Travel Elite, Spark Cash Plus cardholders cannot apply for Spark Travel Elite
Our Verdict
Card comes with $400 in relatively easy to use credits/miles to offset the annual fee, could be worth keeping long term for people that need lounge access. This card will be worth applying for people that can meet the large spend requirement for the sign up bonus. It’s unclear when it will become available for everybody to apply for.
Capital One has also partnered with Melio to allow business cardholders to pay vendors that don’t normally accept credit card payments (2.9% fee).
Hat tip to VFTW
Source: doctorofcredit.com