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- The Points Guy
- For a limited time, Capital One is offering incredibly high sign-up bonuses for Spark Business cards.
- 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.
- 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.
- Bonuses this big don’t come along often. If you’re interested, time is running out. Apply by January 28 to lock in this bonus opportunity for your business.
Capital One offers a wide range of great credit cards, including the popular Spark Business cards.
The Capital One Spark Cash for Business card currently offers an up to $2,000 cash-back sign-up bonus – $500 when you spend $5,000 in the first three months of opening your account, and the other $1,500 after spending $50,000 within the first six months.
The Capital One Spark Miles for Business card offers up to 200,000 miles – 50,000 miles when you spend $5,000 in the first three months of opening your account, and the other 150,000 miles after you spend $50,000 within the first six months.
These offers end on January 28, 2019, so if you want to take home these huge bonuses, you have to act fast.
Let’s take a look at these two Capital One business credit cards to see if they make sense for you.
Limited-time bonus offers
The Capital One Spark Cash for Business and Capital One Spark Miles for Business are two competitive cards with simple and valuable rewards. For businesses that spend around $8,000 per month or more, you should be able to easily bring home a bonus worth $2,000 in cash back or 200,000 miles.
For the Spark Cash card, you can earn $500 after spending $5,000 in the first three months and an additional $1,500 when you reach the $50,000 milestone within the first six months of opening a new account.
For Spark Miles, you can earn 50,000 miles when you spend $5,000 in the first three months and an additional 150,000 once you hit $50,000 in purchases within the first six months of opening a new account.
To earn the just the $500/50,000 miles bonus, you’ll need to spend an average of $1,667 per month for the first three months. Earning the full $2,000/200,000 requires a bigger $8,333 per month over the full six months.
If you don’t spend near $8,000 per month, it may be tough to earn the full bonus offer. If your business is close, consider pre-paying for things like insurance, inventory, utilities, and other expenses you can put on a card to help you get past the $50,000 mark within the six-month period.
Cash and travel rewards for regular purchases
Outside of the bonus, these cards offer flat-rate rewards on each purchase. Spark Cash offers 2% cash back and Spark Miles offers 2x miles per dollar. While you may be able to beat these rates with bonus categories on some cards, you can’t beat 2% or 2x miles flat rate on all purchases.
You can redeem cash-back rewards logging into your online Capital One account. You can even set an automatic payout threshold so you only have to set it up once! You may have additional redemption options for your cash-back rewards.
For travel rewards, miles are worth 1 cent each. You can redeem them as a statement credit to reimburse yourself for any travel purchase. That means you can buy your plane ticket or hotel room like normal, then log into your online account to effectively erase the charge from your statement.
At 1 cent per mile, the value of cash-back rewards and travel rewards is equal between the two cards. With that in mind, the cash-back card may be a little better than the travel one for most users, as you have more flexible options to use your rewards and don’t miss out on opportunities for bigger value with travel awards.
Is the annual fee worth it?
Both of these cards charge a $95 annual fee, which is waived the first year. If you earn the full $2,000/200,000 bonus, you have paid for 21 years of annual fees with the bonus alone. Even if you only get the $500/50,000, you have covered six years of fees.
Plus, you earn your 2 cents or 2x miles per dollar on purchases counted toward the bonus and beyond. You have to spend $4,750 per year to earn enough rewards to cover the fee, not including the bonus. Any purchases you make beyond that is like earning an extra profit for your business!
Other important considerations with Capital One Spark
Spark Business cards also offer valuable purchase and travel benefits. Those include no foreign transaction fees, rental car insurance, purchase protection, extended manufacturer warranties, and emergency travel assistance.
If you pay off the card in full each month, you don’t have to pay interest on any credit card. That means you can use this card and just earn valuable benefits without paying anything but the annual fee as long as you avoid late payments and cash advances.
Does Capital One Spark Business make sense for your business?
Depending on your preferences on how you earn rewards and where you spend most, Capital One’s Spark Business cards may be a great fit for your business. If you spend enough to bring home the $2,000 or 200,000-mile bonus, either of these cards becomes a no-brainer. Of course you should sign up and get that massive bonus!
Bonuses this big don’t come along often. If you’re interested, time is running out. Apply by January 28 to lock in this bonus opportunity for your business.
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.