Capital One has undertaken significant changes since its 2024 acquisition of Discover Financial Services, including transitioning millions of consumer cards onto the payment network it nabbed in a $35 billion deal.
There are changes on the business side too. On Tuesday, Capital One announced changes to two business credit card products: the Spark Miles and Spark Miles Select business credit cards. Starting today, they will go by a new name.
A fresh coat of paint
Capital One’s $95/yr Spark Miles card will become the Venture Business card. Aside from earning 2x miles per dollar (as it did before), the card will also include some new features:
- 5x miles on hotels and rental cars through the Capital One Business Travel portal (instead of 5% cash back)
- A new $50 annual travel credit
- A new $50 annual software or advertising credit
- $120 Global Entry or TSA PreCheck credit
Meanwhile, the no annual fee Spark Miles Select will become the VentureOne Business. There aren’t a lot of changes here, just a fresh coat of paint. The card will still earn 1.5x miles per dollar.
Why the change?
In 2023, Capital One introduced the Venture X Business Credit Card, a business-focused alternative to its popular premium travel card, the Venture X.
The changes made today likely seek to streamline Capital One’s two business branded product lines. For years, Capital One’s Spark-branded cards have been closely associated with its business identity. Venture X sort of disrupted that brand harmony.
At its core, the changes are likely rooted in a desire to help business owners delineate what kind of earnings they get from each card product. Breaking off the Spark cards which earned miles to the Venture name means that the cards now have clear benefits.
In short: Spark earns cash. Venture earns points.
Fresh bonuses abode
While the changes aren’t all that transformative, there are some bonuses that could be, especially for businesses seeking out a new business credit card.
The new Venture Business is offering an astonishing 150,000 bonus after its new makeover. 75,000 miles are earned after $7,500 spend in three months, with another 75,000 miles earned after spending $30,000 in six months.
Meanwhile, the VentureOne Business is offering 50,000 bonus miles for spending $4,500 in the first three months. This offer might not necessarily be as attractive considering the comparable cash back-earning Spark 1.5% Cash Select card is offering a $750 cash bonus for spending $6,000.
But ultimately, it comes down to what business owners need. If they desire the certainty of cash earnings, Spark will be their mainstay. If they yearn to transfer to over a dozen transfer partners, then Venture will likely be a homerun.
Not the only change in town
Capital One’s changes come just weeks after competitor American Express launched its brand-new Graphite™ Business Cash Unlimited Card, which offers 2% cash back on all purchases. It comes with a fairly hefty $295 annual fee, making it the most expensive cash back-earning card from the creditor. Terms apply.
U.S. Bank also just launched a new co-branded business card in partnership with ecommerce giant Amazon. The new Prime Business Card and Amazon Business Card will offer potentially attractive cash back on purchases on the site.