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Jules Financial Enterprise

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How I used my Capital One Spark Miles card rewards and benefits to save over $2,000 this year for my small business

Business

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The author, Jen Glantz.

  • I originally opened the Capital One Spark Miles for Business to earn travel rewards.
  • Now I’m saving money by using benefits like car rental insurance and shopping discounts.
  • Booking through Capital One Travel has also saved me money on business trips.
  • Read Insider’s guide to the best small-business credit cards.

In 2020, my business in the wedding industry drastically slowed down. All of a sudden, my clients paused working with me and I went from traveling three times a month to not leaving my apartment and local neighborhood. This year, business has quickly picked up again and I’ve found myself back on the road, creating new products, working on projects, and streamlining my online offerings. 

Not only has this been a year of making money again, but it’s also been a year of spending a considerable amount of cash to keep my business up and running, better than before. This is why I’ve relied on my small-business credit card for more things than I’ve imagined. 

Read more: Any good business credit card will have these 5 benefits — from a high sign-up bonus to purchase protection

I originally opened up my Capital One Spark Miles for Business for the travel rewards, but have since grown to appreciate the card for its other benefits and offerings. Ultimately, my credit card benefits have helped me save over $2,000 this year for my small business.

Here are six ways I’ve been able to use my card for big savings.

How the Capital One Spark Miles card saved my small business money

Capital One Spark Miles for Business

Travel deals

Since there were a lot of unknowns this year, I found myself having to book a lot of last-minute work trips. If I would have booked them through airlines or hotels directly, I would have spent quite a bit more.

I was able to take advantage of deals and savings by booking travel through the Capital One Travel Portal. For example, I took a last-minute trip to Los Angeles last week. The hotel I wanted to stay at would have cost close to $1,000 if I booked it through the hotel’s website, or another travel website, but booking it through the Capital One travel portal helped me save $160. I didn’t book this trip using miles and was still able to snag this discounted rate.

Read more: How to earn, redeem, and maximize Capital One miles

I have taken six trips so far this year and have saved an average of $150 a trip booking through this portal, which has helped me save over $900 total. Some of these trips I paid with cash and others I redeemed miles for. Capital One miles are worth 1 cent apiece when you redeem them for travel.

Global Entry application fee

One of the weddings I was hired to work at, in 2022, is an international one. This made me want to finally get Global Entry, which expedites the process of getting through the US Customs when you travel back to the country.

I noticed that my Capital One Spark Miles for Business reimburses the $100 application fee and took advantage of that perk this year.  While it was a small amount saved, it still makes a difference to me as a solopreneur. 

Read more: 11 travel rewards credit cards that will reimburse your Global Entry or TSA PreCheck application fee every 4 years

If you’re considering applying for Global Entry or TSA Pre-Check, look to see if your card gives you money back for the application fee, as some offer that as a benefit if you pay for that fee using the card. 

Car rental insurance 

When I travel for work, I often have to get a rental car for two or three days at a time. I want to make sure I’m properly insured when renting the car and because my Capital One Spark Miles for Business card offers rental car collision insurance, I’m able to save a decent amount of money.

Read more: The best credit cards with primary car rental insurance

Car rental insurance through the rental agency can cost from $15 to $30 a day. While my credit card only covers damage due to theft or collision, I can still add supplemental coverage for liability coverage or personal accident insurance through the rental agency.

My estimated savings here is $225 (five rented cars, for three days each, saving approximately $15 each day).  

Miles to cover business purchases 

During one month this year, when I was low on capital, I decided to convert some of my reward miles to dollars to cover my credit card balance. 

Read more: 5 credit cards that let you redeem rewards as cash back toward your billing statement

Doing this allowed me to pay my bill on time and not have to pay interest on my balance (which as a business owner is something I avoid). I was able to convert 30,000 miles to $150 in credits (0.5 cents per mile). While I sacrificed a lot of miles, that extra $150 saved me from having to pay a Capital One Spark Miles for Business on that balance.

Everyday discounts for shopping 

I tend to do a lot of online shopping for my business, whether for supplies, tech equipment, or marketing resources. One big benefit that I’ve tapped into is Capital One Shopping, a free browser extension that searches for the best available coupons or saving and applies those codes, automatically, at checkout. It also gives you a heads up when products you’ve been searching for have dropped in price.

I recently bought over $300 of video equipment and this extension helped me find a 20% off code I couldn’t find on my own.

Read more: Your credit card could get you cash-back discounts or bonus rewards on your shopping — here’s how to find and activate these offers

While it’s hard to quantify how much this has saved me over the years, it’s easy to say that this tool has made me not buy one thing for my business that’s full price. I make sure to buy things for my business that are on sale and this extension has been super helpful in making that happen. 

Discounts on business tools 

A perk that comes with the Capital One Spark Miles for Business is access to a program called Spring, which provides discounted prices for services business owners often need (travel discounts at Priceline and Enterprise, plus discounts at FedEx and Quickbooks). I use many of these businesses throughout the year and was able to save quite a bit every single month. 

Read more: My 3 favorite credit cards to earn points and miles on spending for my small business

A quick tally of a few benefits showed that I will save over $350 this year. Here’s a breakdown of some of the discounts I’ve taken advantage of so far:

  • 20% off my Zoom annual membership (saved $47 this year)
  • 30% off Hello Sign (saved $54 this year)
  • 20% off Vimeo (I’ve saved $16) 
  • $50 off $150 at VistaPrint (I’ve saved $200)
  • 20% off Vimeo (I’ve saved $16) 
  • 50% off Dropbox (I’ve saved $59)

I didn’t know this program existed until I looked at the benefits at the start of this year. Remember to re-examine your credit card rewards and benefits at least once a quarter.

Gift cards 

Another way I was able to save money was to redeem travel miles for gift cards that I used at businesses (like Amazon and Apple) to pay for business expenses that I didn’t have the capital to afford. Overall, I was able to redeem 31,250 miles at 0.8 cents each to get gift cards that I used at Amazon and Apple.

Read more: 5 ways I’m using credit card points to cover 75% of my holiday gifts this year

Look into what gift cards your credit card allows you to redeem points for and see if those retailers are places you already spend at. This can allow you to cash in unused points for gift cards you will use. 

Related Content Module: More Credit Card CoverageRelated Product Module: Small Business Credit Cards

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