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Chase Ink Business Preferred vs. Capital One Spark Miles for Business: Which card is right for you?

Editor’s note: This is a recurring post, regularly updated with new information and offers.
The world of small-business credit cards doesn’t have many premium-card options. Business owners find that even if a card carries enough perks to outweigh its annual fee, they will have a tough time justifying an expense that doesn’t directly grow their bottom line.
However, plenty of great options exist for small businesses looking to rack up valuable travel rewards on their purchases without paying a hefty fee. Two of these, the Capital One Spark Miles for Business and the Chase Ink Business Preferred® Credit Card, offer access to an incredible collection of transfer partners and impressive benefits for businesses.
Let’s compare these two to help you decide which is right for your business.
Ink Business Preferred vs. Spark Miles Business comparison

Ink Business Preferred
Spark Miles for Business

Annual fee
$95
$0 introductory annual fee the first year, then $95 (see rates and fees)

Sign-up bonus
Earn 120,000 bonus miles after spending $8,000 on purchases in the first 3 months after account opening
Earn 50,000 bonus miles after spending $4,500 on purchases within the first 3 months of account opening

Bonus categories
Earn 3 points per dollar on the first $150,000 spent in combined purchases on shipping, internet, cable,  phone services, advertising purchases with social media sites, search engines, and travel
Earn 5 times the total points on Lyft rides (through March 2025)
Earn 1 point per dollar on all other purchases
Earn 5 points per dollar on hotels and rental cars booked through Capital One Travel
Earn unlimited 2 miles per dollar spent on every purchase

Benefits
Employee cards at no additional cost
Travel and purchase protections
Cellphone protection
No foreign transaction fees
Employee cards at no additional cost (see rates and fees)
Up to $100 credit for TSA PreCheck or Global Entry
Extended warranty protection
No foreign transaction fees (see rates and fees)

Ink Business Preferred vs. Spark Miles Business welcome offer
The Ink Business Preferred, for a limited time, is offering 120,000 bonus points after you spend $8,000 on purchases in the first three months, worth $2,460 based on TPG’s July 2024 valuations.

THE POINTS GUY
The Spark Miles for Business features a welcome bonus of 50,000 miles after spending $4,500 on purchases within the first three months of account opening. Although the welcome offer for the card is not as impressive as Ink Business Preferred, it only requires about half the spend. Thanks to an ample list of transfer partners, TPG’s July 2024 valuations peg Capital One miles at 1.85 cents each, making this bonus worth $925.
Like nearly every Chase credit card, the Ink Preferred is restricted by the 5/24 rule, meaning you’ll be automatically rejected if you’ve opened five or more credit cards across all issuers in the last 24 months.
Winner: Chase Ink Preferred. The 120,000 bonus miles are exceptional for a welcome offer.
Related: Cashing in Capital One miles? How to get the maximum value when redeeming miles 
Ink Business Preferred vs. Spark Miles Business benefits
Both of these cards carry a $95 annual fee (though only the Spark waives it for the first year – see Spark Miles rates and fees), and you generally won’t find many perks on cards that are this cheap. Still, each card has benefits worth highlighting, in addition to the fact that neither charges foreign transaction fees (see Spark Miles rates and fees).
With the Ink Business Preferred, you receive various travel insurance and protection benefits. This makes the Ink Preferred an ideal card for businesses that spend money on travel-related expenses or purchasing goods.
For example, trip cancellation/interruption Insurance covers up to $5,000 of coverage for prepaid, nonrefundable travel expenses, and trip delay insurance covers trips delayed for 12 or more hours by providing up to $500 in reimbursement. As an Ink Preferred cardholder, paying for your or your employees’ phone bills provides cellphone protection of up to $600 per claim for damage or theft of cellphones with a limit of three claims in a 12-month period with a $100 deductible per claim.

CLINT HENDERSON/THE POINTS GUY
On the other hand, the Spark Miles Business card only offers purchase security and extended warranty protection on purchases, which the Ink Preferred also provides. Business owners will also benefit from a TSA PreCheck/Global Entry statement credit up to $100.
Both cards also allow authorized users to be added at no cost (see rates and fees for Spark Miles Business), a great benefit for businesses with several employees. As a business owner, if your expenses are travel-related, the Spark Miles Business card does not provide any protections or benefits despite providing lounge access passes and a statement credit for expedited airport screening programs.
Winner: Tie. Both cards offer benefits that businesses find value in, whether it be travel protections, statement credits, or lounge access.
Earning points with the Ink Business Preferred vs. Spark Miles Business
One of the biggest differences between these two cards is how they earn rewards for your spending after the initial welcome bonus.
The Ink Business Preferred offers 3 points per dollar (a 6.15% return based on TPG’s July 2024 valuations) on your first $150,000 in combined annual spending across the following bonus categories:

Travel, including airfare, hotels, rental cars, trains and taxis
Shipping purchases
Internet, cable and phone services
Advertising purchases made with social media sites and search engines

After that, the card earns 1 point per dollar on all purchases. If you max out this cap every year, you’ll walk away with 450,000 Ultimate Rewards points (worth $9,225 based on TPG’s July 2024 valuations).

MOMO PRODUCTIONS/GETTY IMAGES
If you don’t frequently spend in these specific categories, you might be better served by the Spark Miles for Business. This card offers a fixed 2 miles per dollar on most purchases, an effective 3.7% return based on our July 2024 valuations. The card also earns an elevated 5 miles per dollar for hotels and rental cars booked via Capital One Travel.
If you spend a lot in the Ink Preferred’s bonus categories, that makes the card a good choice. However, for a simpler earning structure, the Spark Miles comes out ahead.
Winner: Tie. Both cards have different bonus-earning categories, so it depends on where you spend your money.
Related: The best credit cards for everyday spending
Redeeming points with the Ink Business Preferred vs. Spark Miles Business
Both cards earn valuable transferable points, and it’s really hard to go wrong with the Chase Ultimate Rewards or Capital One Miles ecosystem. Both cards earn miles to be transferred to loyalty partners or redeemed through the Chase Travel℠ or Capital One Travel portal for airfare, hotels and car rentals. You’ll also earn miles and elite qualifying miles on flights booked this way.
It’s worth noting that the Spark Miles for Business still allows you to redeem your miles at a fixed rate of 1 cent each to book travel through the Capital One portal. Similarly, you can redeem your Chase points directly through Chase Travel toward airfare and receive a 25% bonus, giving your points a value of 1.25 cents each.

MATTHEW SHAW/HYATT
Rewards on both cards can also be redeemed for statement credit and gift card purchases. However, this nets a return of just 1 cent per point and would not maximize your rewards.
Winner: Tie. Both cards offer similar redemption options and give cardholders flexibility.
Transferring points with the Ink Business Preferred vs. Spark Miles Business
Both cards share the following three airline partners:

Singapore Airlines KrisFlyer
Air France-KLM Flying Blue
Emirates Skywards

ZACH GRIFF/THE POINTS GUY

Capital One has 15-plus airline and hotel partners to which cardholders can transfer miles from their Spark Miles Business for a 1:1 transfer ratio across most partners.
Meanwhile, on the other hand, points from the Ink Business Preferred can be transferred to 14 airline and hotel partners at a 1:1 ratio. I used the welcome offer from the Ink Preferred to transfer points to Singapore KrisFlyer to book a Singapore Airlines A380 business-class ticket.
Winner: Tie. Each card maintains its list of transfer partners, which appeal to different types of travelers.
Should I get the Ink Business Preferred or  Spark Miles Business?
The Ink Preferred is the better choice for small-business owners who want to max out the card’s bonus categories and pool points with other Chase cards they already have in their wallet. Conversely, the Spark Miles for Business is ideal for those who want a simpler points-earning structure.
Bottom line
The Ink Preferred and Spark Miles for Business are valuable cards to help your business earn travel rewards on your expenses. The first question to ask yourself is whether your business will be able to hit the spending requirement of the Ink Preferred or if you prefer spending less for the Spark Miles for Business card.
Outside of that, it’s up to you to decide which card will be more rewarding for your ongoing spending — 3 points per dollar on your first $150,000 in select business categories or 2 miles per dollar on all purchases — and which program offers transfer partners better suited to your travel needs.
Read our full reviews of the Ink Business Preferred and Spark Miles for Business to learn more.

Apply here: Ink Business Preferred

For Capital One products listed on this page, some of the benefits may be provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply.

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