Comparability: Capital One Spark Miles Vs. Spark Money Plus

Staff December 6, 2022

0 28 5 minutes read

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Hyperlink: Apply now for the Capital One Spark Miles for Enterprise or Capital One Spark Money Plus

I presently have each the Capital One Spark Miles for Enterprise (overview) and Capital One Spark Money Plus (overview), and it’s time to resolve which card to maintain, as I can’t justify the annual payment on each playing cards, given the overlap.

Let’s evaluate the 2 playing cards on this publish — I’ll discuss in regards to the huge image variations, after which extra particularly about my very own scenario, and which card I believe makes probably the most sense.

Fundamentals of the Spark Miles vs. Spark Money Plus

On the floor the Capital One Spark Miles for Enterprise and Capital One Spark Money Plus look like they’ve completely totally different worth propositions, however they’re extra related than you may assume. Taking the wonderful welcome bonuses out of the equation, let’s check out the fundamentals of every of those playing cards.

There are many nice causes to get the Capital One Spark Miles for Enterprise, so listed below are the cardboard particulars:

The cardboard has a $95 annual payment, which is waived for the primary 12 months
The cardboard affords 2x Enterprise miles per greenback spent with no international transaction charges; these rewards might be transfered to Capital One’s airline and accommodations companions, or might be redeemed for one cent every towards journey purchases
The cardboard affords a World Entry or TSA PreCheck credit score as soon as each 4 years, in addition to lounge entry twice yearly, both to Capital One Lounges or Plaza Premium Lounges
The cardboard is a bank card, which means it has a pre-set spending restrict

In the meantime there are additionally good causes to get the Capital One Spark Money Plus, so listed below are the cardboard particulars:

The cardboard has a $150 annual payment
The cardboard affords 2% money again on all purchases with no international transaction charges
The cardboard affords a $200 money bonus once you spend $200,000 or extra on the cardboard in an anniversary 12 months; in different phrases, in the event you’re a giant spender, this greater than recoups the annual payment
The cardboard is a cost card, which means it has no pre-set spending restrict, and is probably perfect for large purchases

Each playing cards supply nice rewards buildings

These playing cards aren’t as totally different as they appear

Logically many individuals are most likely considering that these two playing cards are related in identify solely, as one card earns money again you’ll be able to spend towards something, whereas one card earns journey rewards.

What’s nice is that whereas the Capital One Spark Money Plus is a money again card on the floor, in actuality rewards might be transformed into Capital One miles, assuming you have got the cardboard along with a card incomes these miles. This may be completed instantly on Capital One’s web site, and is a straightforward course of.

In different phrases, in the event you’re like me and have the Capital One Enterprise X Rewards Credit score Card (overview), then you’ll be able to convert these rewards into Capital One miles on the charge of 1 cent per mile.

Since I worth Capital One miles at considerably multiple cent, that is how I’d select to make use of my rewards. In different phrases, for my functions the 2 playing cards have just about equivalent rewards buildings — each earn me 2x Capital One miles, it’s only a perform of whether or not I’m incomes them instantly or not directly.

Each playing cards can be utilized to earn journey rewards

Why I’m attempting to resolve between these two playing cards

As I’ve defined when sharing my Capital One card technique, I’ve each the Capital One Spark Miles for Enterprise and Capital One Spark Money Plus. I picked up each of the playing cards with glorious bonuses, as you’re allowed to have each playing cards. I’m pleased I’ve had the prospect to attempt each playing cards, although on an ongoing foundation I can’t actually justify having each, since they serve the identical function for me.

The annual payment on the Spark Miles simply hit my account, so it’s most likely time to consider whether or not I plan on preserving the Spark Miles or Spark Money Plus.

Membership payment on the Capital One Spark Miles

For all sensible functions, the rewards listed below are the identical for me, since I plan on utilizing these playing cards to earn Capital One miles.

With that in thoughts, right here’s my tackle the Capital One Spark Miles for Enterprise:

On an ongoing foundation, the cardboard’s annual payment is $55 decrease, so it has that going for it
In concept there’s worth to the cardboard’s World Entry or TSA PreCheck credit score, however in actuality I’ve so many playing cards with these credit that I’m undecided it makes a lot of a distinction
The Capital One Lounge or Plaza Premium Lounge entry is beneficial on the floor, however I get that with the Capital One Enterprise X, so I don’t think about there to be a lot incremental worth
The cardboard instantly earns Capital One miles; I suppose it’s potential that sooner or later sooner or later rewards on the Spark Money Plus can not be transformed into miles, so in a approach it appears safer to earn the forex I really wish to earn

In the meantime right here’s my tackle the Capital One Spark Money Plus:

If I might spend $200K on the cardboard in a calendar 12 months, with the ability to earn a $200 bonus (equal to twenty,000 Capital One miles) would greater than justify the annual payment, and make the mathematics work out higher
I do fairly worth the dearth of a pre-set spending restrict on this card, for conditions the place I’ve to make a giant buy, however the credit score limits on different playing cards isn’t excessive sufficient
Some may recognize the flexibleness of incomes money again quite than journey rewards, within the occasion we see important devaluations sooner or later sooner or later

I’m curious to listen to what OMAAT readers would do. My preliminary thought is that preserving the Capital One Spark Miles for Enterprise is the logical choice.

Nonetheless, I believe I’m underestimating the worth of the Capital One Spark Money Plus having no pre-set spending restrict, for conditions the place I’m making a giant buy and wish to maximize my rewards. Moreover, if I might shift extra spend to the Spark Money Plus, possibly I might earn the annual bonus, which might make the mathematics work out even higher.

I get lounge entry both approach with the Enterprise X

Backside line

I’ve each the Capital One Spark Miles for Enterprise and Capital One Spark Money Plus, and have shifted most of my enterprise spending to those playing cards, given their glorious rewards buildings. Since I’ve these playing cards along with the Capital One Enterprise X Rewards Credit score Card, the worth of the 2 playing cards very a lot overlaps.

I believe it is smart to resolve between the 2 playing cards now. I’m simply undecided if I ought to go together with the decrease annual payment of the Spark Miles, or the dearth of a pre-set spending restrict and potential spending bonus of the Spark Money Plus.

What’s your tackle the worth of the Spark Miles vs. Spark Money Plus?