The Insider Picks team writes about stuff we think you’ll like. Business Insider may receive a commission from The Points Guy Affiliate Network.
- The Points Guy
- Right now, Capital One is offering incredibly high sign-up bonuses when you open a certain credit card.
- The bonuses were announced alongside a major improvement to two of Capital One’s card products: the ability to transfer rewards miles to frequent flyer partners (the feature will go live sometime this month).
- There hasn’t been an end date announced, but as always when you see such a dramatically increased bonus, we can expect these to drop back to their usual levels soon.
- The Capital One Venture Rewards Credit Card is offering 75,000 miles when you spend $5,000 in the first three months. The normal bonus is 50,000 miles, making the current offer a 50% increase.
- The Capital One Spark Miles for Business card is offering up to 200,000 miles, broken into two pieces: 50,000 miles after spending $5,000 in the first three months, and an additional 150,000 miles after spending $50,000 in the first six months.
- Both cards earn 2x miles per dollar spent, and the Venture earns 10x miles on hotels when you book and pay through Hotels.com/Venture. They both carry a $95 annual fee, which is waived for the first year.
- While you can’t transfer miles with this card, the Capital One Spark Cash for Business is also offering an improved limited time sign-up bonus. You can earn $500 after spending $5,000 in the first three months, and an additional $1,500 after spending $50,000 in the first six months.
- Read on to learn more about these incredible limited-time offers.
Capital One recently announced a major improvement to two of its most popular cards – the Capital One Venture and the Spark Miles for Business. Starting next month, cardholders will have the option of transferring their cards’ miles to a number of airline frequent flyer partners, bringing Capital One miles in line with the top credit cards reward programs, like Chase’s Ultimate Rewards and AmEx’s Membership Rewards.
The change has made the Capital One Venture – which was already a solid card – an even more useful rewards card for everyday spending. It earns 2x miles on everything (and 10x miles on hotels when you book and pay through Hotels.com/Venture), which, combined with the ability to transfer miles, makes it quite competitive for its class. The Spark Miles works similarly, except that it’s meant for small business owners.
While this is a great indefinite improvement for the cards, there’s another feature that won’t be around for long.
Both cards are offering limited-time sign-up bonuses. While Capital One has not shared an end date, it’s safe to assume that these won’t be around for long.
The personal Capital One Venture is offering 75,000 miles when you spend $5,000 in the first three months. The normal offer is 50,000 miles, so this is a 50% increase. After hitting the spend requirement, you’ll have 85,000 miles (or more, if you earn at the Hotels.com bonus rate), which transfers to about 63,750 airline miles (Capital One transfers to airlines at a 2:1.5 ratio). You can also use the bonus simply for $750 worth of travel purchases (or $850 when you factor in the spending), although you can potentially get a better offer by transferring miles to an airline partner. This is one of the best offers we’ve seen on this card in years.
The Spark Miles for Business, meanwhile, has an incredible bonus – as long as you have a business that typically has high expenses. Also for a limited time, you can get up to 200,000 miles. The bonus is broken into two chunks: 50,000 miles after you spend $5,000 in the first three months, and an additional 150,000 miles when your business spends $50,000 in the first six months.
- The Points Guy
The Spark Cash for Business is offering a similar limited-time bonus, although you’ll get cash back rather than miles, so you can’t transfer them to airline partners. For a limited time, you’ll get $500 after spending $5,000 in the first three months, and an additional $1,500 after spending $50,000 in the first six months.
Remember, it isn’t worth spending more than you would otherwise spend to earn the bonus, and it definitely isn’t worth carrying debt in order to earn rewards. However, with the holiday season coming up, and people budgeting for holiday spending anyway, this could be a great time to open the Venture. And if you have a business that spends a lot of money – for instance, fronting expenses that are billed to clients, or purchasing supplies – the bonus requirements for the Spark Miles could be easy to hit.
As always, keep in mind that we’re focusing on the rewards and perks that make these cards great options, not things like interest rates and late fees, which can far outweigh the value of any rewards.
When you’re working to earn credit card rewards, it’s important to practice financial discipline, like paying your balances off in full each month, making payments on time, and not spending more than you can afford to pay back. Basically, treat your credit card like a debit card.