Spark Cash Plus Welcome Offer
Whoa Nelly is right! We have seen some big Capital One business card offers in the past but they just took it to the next level. The Capital One Spark Cash Plus welcome offer was just increased up to a massive $3,000. I didn’t accidentally add a zero there, for a limited time it has a $3,000 welcome offer! Upon completing the spending required you will end up with $4,000 in your account with the card’s 2% earning. If you are doing the math right now, yes it requires a ton of spend. Let’s take a look at the details.
This offer has ended.
Spark Cash Plus $3000 Offer Details
- Earn $500 once you spend $5,000 in the first 3 months
- Earn and additional $2,500 once you spend $50,000 in the first 6 months.
- The card earns 2% back on all purchases
- The Spark Cash Plus has no preset spending limit
- $150 annual fee is NOT waived
- Learn More
Breaking It Down
This offer definitely won’t be for everyone because of the $50,000 spending requirement. That is an average $8,333 a month, for 6 months. No easy task for many small businesses. If you are able to meet the requirement you will end up with a massive $4,000 sitting in your rewards account ($3,000 from the welcome offer, $1,000 from 2% back earning). Or you could look at it this way, with the Spark Cash Plus offer you will earn an amazing 8% back on your next $50,000 in business expenses. It is 7.7% to be exact, when factoring in the $150 annual fee. That is a pretty big discount on your business expenses.
Final Thoughts
The really tricky thing is getting a Capital One approval. We saw the floodgates lifted a bit with the Capital One Venture X card, has something similar happened with the Spark Cash Plus? I have one data point of approval even after getting denied for the Venture X card a few weeks ago. Share more of your data points below.
Are you going after this massive welcome offer?
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Have they been issuing cards with enough credit line for low-ish revenue businesses to actually hit 50k without cycling?
I think a lot of people still end up getting limits on the lower end sadly.
Sorry if this is obvious – can the $3000 bonus translate to 300,000 Capital One points or cash only?
Thanks!
You can convert them if you have another Cap One miles earning card.
I took advantage of a similar offer on the Spark Cash card from May-Aug of 2021. However, the bonus was $1000 less at that time. If you have the spend, you should jump on it. Also, the Spark Cash does not report on your personal credit report, and it does not count towards 5/24.
https://www.youtube.com/watch?v=FkUucjaNg_M
Haha – well played Doc 🙂
I am eyeing this card now since I have some renovations to do to my office this year and this would be a great return I think. I just have to see if everyone will take a credit card payment w/o killing me with fees (if they include it in the estimate then I won’t know the difference ;-). I’ll let you know if I apply and the outcome. On a VentureX note, my wife was approved instantly and she has 800+ Credit report and doesn’t carry a balance on her credit cards (actually she only carried 2 for the past decade as she didn’t want to get into the game, but is not my reluctant player2 lol), I did not apply because I am hopeful for the Hyatt Personal Card to get a better SUB.
That would be perfect timing for sure. Let us know if you end up going for it and how the application goes! I went 0 for 2 on the Venture X 🙁
7.7% on $50,000 in charges is compelling.
If one was going to redirect $50k of spending, what other bonuses would a person be missing (assuming eligibility)?
Amex Platinum, 150k plus 10X on restaurants, $6k spend
Amex Business Platinum, 150k points, $15k spend
Amex Gold, 60k, $4k spend
Amex Business Gold, 70k, $10k spend
Amex Green, 45k, $2k spend
Not close to $50k spend yet and one is at a (regular) bonus of 475k points. Valued at 2 cents if transferred. We’re talking almost $10k in value. Throw in the restaurant pop on the Platinum and one is easily there.
Capital One continues to be unimpressive and not really in the game.
Haha maybe – but I for one have obtained the first 4 you mentioned within the last year…
I’m not advocating anyone chase this Cap1 deal, and I understand your theory. But it doesn’t seem practical. It seems very unlikely Amex is going to approve someone for all 5 of those cards in 6 months.
Agreed. Whenever someone says you could get multiple offers for that spend that is assuming you can get approved for all of the cards and doesn’t take into account multiple pulls etc. In theory it is true but in reality some people will only want one card instead or can get it and still get the other ones etc.
Some people who rarely travel (like me), prefer cash. I can use the card to pay my hefty income and real estate taxes, albeit with a convenience charge. Also, points, unlike cash, can always be devalued.
Yeah I mean absolute worst case scenario, can’t you just charge to your own Square credit card account (it’s free to set up). I think I pay around 2.7% and they deposit the cash into my checking account the very next day. Even considering paying those 2.7% commissions to Square, you’d still walk away with $2,625 NET profit that is tax free.
It’s called a related party transaction. It should be coded as a cash advance. And, you will likely be shut down and banned from the issuer for life. Just ask Amex.
I wouldn’t recommend doing something like that. Could be considered fraud.
These count against 5/24, right?
In the past they always have. Capital One changed that they don’t report business card spending to personal credit card bureaus for anyone that has applied after October 20, 2020 and is in good standing. I am not sure if that means that won’t count towards Chase 5/24 or not anymore. I would plan on them counting but you may get lucky with the changes.
Well, if they don’t report then it won’t count for chase
Yup, just don’t have a recent direct DP to give you so I am gonna hedge haha 🙂
JL – a business is a business. I wouldn’t go into detail, other than just you have a reselling electronics business. Very common. Good luck!
I have a reselling business where I buy for full price on Dell, Amex reimburses me, and I sell on Ebay for a loss. Think that will qualify?? LOLOL I tried for the Venture X and it was a no, but going to try again one day. An amazing offer for sure, I hope those who apply get approved!
Let us know how it goes!