Huge new 200K / $2K Capital One business offers for big spend

Yesterday, we published a post comparing the big public welcome offer on the Capital One® Spark® Miles for Business card with a targeted offer from Chase on its marque business card (See: 160K Ultimate Rewards vs 200K Capital One “Miles”: Which is the best big bonus?). However, it just occurred to us that we hadn’t yet published a standalone post to quickly alert readers to the two huge bonuses now available on the Capital One® Spark® Miles for Business credit card and the Capital One® Spark® Cash for Business credit card. Each new welcome offer requires a lot of spend, but with the level of reward offered for that spend these offers might be worth considering for those businesses with high expenses.

For those who want miles

Capital One® Spark® Miles for Business
Up to 200K "miles"
Limited time offer - earn up to 200K "miles": 50K after $5K spend in the first 3 months from account opening and an additional 150K after $50K spend in the first 6 months from account opening

No Annual Fee First Year, Then $95

Recent better offer: None. This matches the highest offer ever.

FM Mini Review: This card is basically the same as the Spark Cash for Business, but rewards are intended to be used to offset travel purchases. One big advantage over cash back: Capital One allows transfering their "miles" to airline miles at a 2 to 1.5 ratio and "miles" can be combined with other cards or other customers.


Card Type: Visa Signature

Base
Travel

Earning rate: 2X everywhere ⚬ Earn 5X miles on hotel and rental car
bookings through Capital One Travel

Noteworthy perks: Redeem miles for travel at value of 1 cent per mile ⚬ Convert "miles" to airline miles at a (mostly) 2 to 1.5 ratio ⚬ No foreign transaction fees ⚬ Fee credit for either $85 TSA Pre✓® application fee or $100 Global Entry application fee

For those who want cash

Capital One® Spark® Cash for Business
Up to $2,000 Cash Back
Limited time offer - Up to $2,000 Cash Back: Earn a one time bonus: $500 after $5K spend in 3 months from account opening and earn an additional $1,500 when you spend $50K in the first 6 months of account opening

No Annual Fee First Year, Then $95

Recent better offer: None. This matches the highest offer ever.

FM Mini Review: Many cards offer unlimited 2% cash back, but this is the only business card I know of that does so. This is a good option for business owners who prefer simple cash back rewards.


Card Type: Visa Signature

Base
2%

Earning rate: 2% everywhere

Noteworthy perks: No foreign transaction fees

Quick Thoughts

As you can see above, both of these offers require a lot of spend. Putting fifty thousand dollars in spend on a single credit card over six months time could be a questionable value proposition considering the fact that one could likely open four or five new credit cards from various issuers and split up that spend over a few new card welcome offers and earn greater rewards per dollar spent.

On the flip side, some folks either prefer not to open multiple credit cards in six months time or have plenty of spend to meet this offer and the welcome offers on whatever other cards they choose to open. If you have a large amount of spend in categories that typically go unbonused on other cards, these bonus can certainly be worth a look.

The cash bonus, when taken along with the 2% you would earn from the purchases required to earn the welcome bonus, works out to a return of 6%. You could certainly do worse than getting a net 6% back on $50K in purchases over six months time.

Those who choose the miles card could potentially eke even more value out of the new cardmember bonus considering the fact that the Capital One “miles” can either be redeemed for travel at a rate of $0.01 each or transferred to airline partners. Most Capital One transfer partners transfer at a ratio of 2:1.5 (though a couple offer a poor 2:1 transfer ratio). However, Capital One often offers transfer bonuses (check this page for current point transfer bonuses), which can sometimes increase the transfer ratio for one partner or another to as good as 1:1 (or 2:2 if you prefer to think of it that way). In other words, after meeting the minimum spending requirements, you would have enough Capital One Miles to get 225K airline miles from most transfer partners or may get as many as 300K airline miles if taking advantage of a good transfer bonus. That’s a lot of miles to earn from a single card in such a short period of time.

Again, you could earn far more miles by splitting the minimum spending requirement over multiple new card bonuses. However, if for one reason or another you prefer to open and use a single card, it’s hard to beat the return here.

Out of the two, I personally prefer the Miles card since it essentially offers the same value (since Capital One “miles” could be redeemed for travel at a rate of $0.01 each) but additionally offers the ability to get more value out of transfer partners. Keep in mind that Capital One also allows you to combine miles with those earned from your other cards (like the Capital One® Venture® Rewards card) or to transfer them to any other cardmember who has an account that earns Capital One miles. That makes it really easy to combine forces for the award ticket you want.

Two quick caveats for those considering these cards: first, keep in mind that Capital One is known to be very stingy on approvals for those with many credit card accounts with other issuers, so many readers may have trouble getting approved. Second, Plastiq recently announced that Capital One has asked them to suspend the processing of payments on Capital One credit cards — so if you were anticipating that you would use Plastiq to meet the spending requirements, keep in mind that you currently can not and we do not know if and when that capability will return.

About Nick Reyes

Nick Reyes is a (fairly) regular guy with an animalistic passion for maximizing the value of miles and money to travel the world in comfort and style. There is little in life that he loves more than finding a fantastic deal and helping you shop smarter & harder to achieve your travel dreams.

More articles by Nick Reyes »

Regarding comments: Comments posted at the bottom of Frequent Miler pages and posts are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser’s responsibility to ensure all posts and/or questions are answered.

14
Leave a Reply

avatar
3 Comment threads
11 Thread replies
8 Followers
 
Most reacted comment
Hottest comment thread
7 Comment authors
ChristianCaveDwellerCaseyMSerMike Recent comment authors

This site uses Akismet to reduce spam. Learn how your comment data is processed.

  Subscribe  
Notify of
Casey
Guest
Casey

So I’m about to put solar on my house and I can charge the $50k on a credit card. What do you think the likelihood of being approved for a huge limit? I’m going to pay it off immediately after? I was going to use my Chase Freedom Unlimited with the 1.5 per dollar and transfer to my Chase Sapphire Reserve. Thoughts?

CaveDweller
Guest
CaveDweller

Casey
Just an idea can’t u put $10K on that card every day then pay $10K off every nite 5x ?
CHEERs

MSer
Guest
MSer

The real question is why you’re spending $50K on solar? Adding more/better insulation, windows, and HVAC is almost always a far better use of your money.

Casey
Guest
Casey

Upgraded the windows. Our house is about 3,500sqft and has two AC units along with a pool and spa and two Teslas so our average monthly bill ranges around $500+ a month. I’m 40 and plan on living in this home for another 30 years so the solar investment out ways the cost.

CaveDweller
Guest
CaveDweller

Casey
No ur doing it right .Fix the house which u did THEN go to Solar if that’s what u want . Most just go to Solar on a gas Guzzler house . Jay Leno loves his Tesla no nutting in 3 years .
CHEERs

Alex
Guest
Alex

Many blogs don’t mention that unlike other business credit card, Capital One business cards will be reported to your credit report.

Mike
Guest
Mike

And they pull from all 3 bureaus.

Christian
Guest
Christian

Will they approve businesses for a second card?

MSer
Guest
MSer

Yes. I had 3 Sparks at one time, before shut down.

Christian
Guest
Christian

Could you elaborate? The shut down part worries me.