The Capital One Spark Miles for Business is a great option if you're looking for a business credit card that earns you bonus rewards without lots of hoops to jump through.The card is currently offering an increased sign-up bonus of up to 200,000 miles. You'll earn 50,000 miles after spending $5,000 in the first three months, and 150,000 miles after spending $50,000 in the first six months.However, you only have until January 27 to apply for this offer.This Spark Miles for Business earns 2 miles for every dollar you spend, and you can redeem miles to cover travel expenses at a rate of 1 cent per point You also have the option to transfer points to 15 airline partners, which could be a good deal if you fly often with a specific carrier.See Business Insider's list of the best small-business credit cards If you have the means to pay your credit card balance in full each month, you might as well earn rewards on your business purchases. Many business credit cards offer cash back, travel rewards, or flexible points you can use in several different ways. And depending on your average business spending, you have the potential to earn and enjoy thousands of dollars in rewards and benefits each year.The Spark Miles for Business from Capital One is a solid business card to consider if you want to earn a flat rate of rewards that are easy to redeem. This card gives you an unlimited 2 "miles" for each dollar you spend, and you can redeem them to cover any travel purchases you want.Plus, it's currently offering a very valuable elevated sign-up bonus of up to 200,000 miles if your business can spend $50,000 in the first six months. This offer is only available until January 27, so apply soon if you're interested.Depending on your spending habits and rewards goals, the Spark Miles for Business could be a good fit for your needs.Keep in mind that we're focusing on the rewards and perks that make these credit cards great options, not things like interest rates and late fees, which will far outweigh the value of any points or miles. It's important to practice financial discipline when using credit cards by paying your balances in full each month, making payments on time, and only spending what you can afford to pay back.Read more: Who can qualify for a small-business credit card'Capital One Spark Miles for Business card detailsAnnual fee: $95 annual fee; waived the first yearSign-up bonus: 50,000 miles once you spend $5,000 on your card within three months of account opening, 150,000 miles after you spend $50,000 in the first six months from account opening (until January 27, 2020)Earning structure: Earn a flat 2 miles for each dollar you spend, and earn 5 miles per dollar on hotels and rental cars booked via Capital One TravelRedemption options: Cash in points to cover travel expenses charged to your card, or transfer to 15 airline partnersForeign transaction fee: NoneSign-up bonus and everyday earningThis card starts you off with a very lucrative sign-up bonus. To earn the full 200,000 miles, your business needs to spend $50,000 in the first six months. If you're a freelancer or have a smaller business, that might not be realistic, but for larger enterprises it could be easyin which case this offer is a great way to maximize your spending.Once you sign up, you'll need to spend $5,000 within three months of account opening to earn 50,000 miles worth $500 in travel. If you spend $50,000 in the first six months, you'll earn 150,000 miles, for a total of 200,000 miles.On top of that, you'll earn 2 miles for every dollar you spend. This means that, if you spend the $50,000 required to earn the full 200,000-mile sign-up bonus, you'd have 300,000 miles, or $3,000 in travel rewards, to spend off the bat.The Spark Miles for Business recently added a bonus spending category. You'll earn 5 miles per dollar when you book hotels and rental cars through Capital One Travel. This amounts to a strong return on spending if you're interested in booking travel directly through Capital One.With this flat-rate earning structure, with just one (new) bonus category, the Spark Miles for Business is one of the least-complicated business rewards credit cards available today.Cashing in your rewardsThe Spark Miles for Business card also keeps things simple on the redemption end. Since this card offers flexible travel credit, you can use your rewards to "erase" travel purchases from your bill at a rate of 1 cent per mile.In other words, you would simply use your credit card to pay for travel purchases like hotels or flights, then cash in your rewards to cover all or part of your travel purchases. However, the rules state you have to redeem points for travel expenses within 90 days of the purchase being made.Also note that, like the Capital One Venture Rewards Credit Card, the Spark Miles for Business now lets you transfer points to 15 different airlines. Transfer partners include:AeromexicoAir CanadaAir France, KLMAlitaliaAviancaCathay PacificEtihadEVA AirFinnairHainan AirlinesJetBlueQantasQatar AirwaysEmiratesSingapore AirlinesMost of these transfer partners come with a 2:1.5 ratio, meaning 2 Capital One miles turn into 1.5 airline miles. However, Emirates, JetBlue, and Singapore Airlines come with a 2:1 ratio.Spark Miles for Business cardholder benefitsThe Spark Miles for Business offers a lot of benefits that can make signing up a rewarding experience. For starters, this card gives you up to a $100 credit toward Global Entry or TSA PreCheck. All you need to do to qualify is pay with your credit card when you apply.You also get free employee cards, which can be especially useful if you have several employees and want to earn rewards on their business purchases.The Spark Miles for Business also comes with several important travel benefits. Perks include auto rental damage waiver insurance, travel and emergency assistance services, and extended warranties.Spark Miles for Business costs and feesLike we mentioned already, this card does have a $95 annual fee. But since this fee is waived the first year, you get a full 12 months to see if you like the card and the benefits it offers.Note that the Spark Miles for Business also comes with a variable 18.49% APR, and you won't get an initial break on interest for purchases. This high APR makes carrying a balance on this card an expensive propositionit's something that should be avoided.Other fees and costs to be aware of include a 3% fee (minimum $10) and a 24.49% variable APR for cash advances. Also note that you'll pay a 30.9% variable penalty APR that can apply if you pay your credit card bill past its due date.All of this means the Spark Miles for Business is best for business owners who can pay their balance on time and in full. If you need to carry a balance or are prone to paying your bill late, you may want to consider a different business credit card.Other business credit cards to considerWhile the Spark Miles is a great business credit card, it's not necessarily the right fit for everyone.If you know you want to earn cash back and don't want to bother with miles that can be redeemed with airline partners, you might want to check out the Capital One Spark Cash for Business instead. This card is very similar to the Spark Miles for Businessit also has a $95 annual fee that's waived the firstbut it earns cash back instead of miles. It's also offering an elevated welcome bonus until January 27. You can earn $500 in cash back after spending $5,000 in the first three months, and you'll earn another $1,500 back after you spend $50,000 in the first six months from account opening.Click here to learn more about the Capital One Spark Cash for Business If you are interesting in earning travel rewards on your business spending but aren't enticed by Capital One's selection of airline partnersor if you simply don't think the spending requirement to earn the Spark Miles card's full sign-up bonus is achievable for youthe Ink Business Preferred Credit Card is worth considering. This card has a $95 annual fee, and it earns 3 Chase points per dollar on the first $150,000 spent in combined purchases in several popular business spending categories each year. Those categories include travel, shipping purchases, internet, cable, and phone services, and advertising purchases with social media sites and search engines.The Chase Ultimate Rewards points you earn with the Ink Business Preferred card can be transferred (at an easy 1:1 ratio) to airline and hotel partners including British Airways, Hyatt, Marriott, and United, and you can also use points to book travel directly through Chaseyour points are worth 1.25 cents when redeemed this way, which equates to a 25% bonus. The card's offering a welcome bonus of 80,000 points after you spend $5,000 in the first three months.Click here to learn more about the Ink Business Preferred card A final option to consider is the Business Platinum Card from American Expressthis is a good pick if you want luxury travel benefits and are willing to shell out a high annual fee in return. For $595 a year, this card gets you perks like airport lounge access and up to $200 in annual statement credits to use toward airline incidental fees.The Business Platinum card also offers up to $200 in annual statement credits toward Dell purchases, and gets you complimentary Gold elite status with both Hilton and Marriott. Its benefits won't make sense for everyone, but if the perks align with your business' needs, you can get thousands of dollars in value. There are too many perks to list here, so see the full Amex Business Platinum card review for more info.Click here to learn more about the Amex Business Platinum card Is the Spark Miles for Business right for you'The Spark Miles for Business is a good business credit card for anyone who doesn't want to deal with complicated rewards programs. You have the option to transfer your miles to airlines, but you can also just redeem them for any travel expenses you want. This means you'll never be stuck with rewards you can't use. It's also helpful that you get free cards for employees, and the $95 annual fee is reasonable as well.Now is a great time to apply for this card if your business spends a lot, since the current offer could get you up to 200,000 miles.Click here to learn more about the Capital One Spark Miles for Business More credit card coverageWhat's the best airline credit card'The best cash-back credit cardsSouthwest credit card reviewBest rewards credit cardsSEE ALSO:All our credit card reviews ' from cash-back to travel rewards to business cards ' in one placeJoin the conversation about this storyNOW WATCH: Behind the scenes with Shepard Smith ' the Fox News star who just announced his resignation from the network Click here to read full news..