Link: Apply now for the Capital One Spark Cash Plus (Rates & Fees)
The Capital One Spark Cash Plus is one of the best business cards out there, whether you’re looking to earn cash back or travel rewards.
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Capital One Spark Cash Plus bonus
The Capital One Spark Cash Plus is offering a welcome bonus where you can earn a one-time cash bonus of $1,200 once you spend $30,000 in the first 3 months. This bonus is excellent.
As I’ll cover below, you can potentially get even more value by converting these rewards into Capital One miles.
How rewarding is the Capital One Spark Cash Plus?
For those not familiar with the $150 annual fee Capital One Spark Cash Plus (Rates & Fees), this is one of the most rewarding business cards out there, and one of the all-around best cash back cards:
- The card offers unlimited 2% cash back, making it one of the best cards for everyday spending
- The card offers an additional $150 cash back when you spend $150,000 on the card in a year, so it’s especially rewarding for big spenders; think of the card as offering a refund of the annual fee for big spenders
- The card is a charge card, so has no pre-set spending limit, making it ideal for big purchases
- The card has no foreign transaction fees, so you can earn 2% cash back globally
Read a full review of the Capital One Spark Cash Plus.
Convert cash back into Capital One miles
One awesome thing about the Capital One Spark Cash Plus is that you can convert cash back into Capital One miles at the rate of one cent per mile. That means the bonus of $1,200 could also get you 120,000 Capital One miles.
If you have the Capital One Spark Cash Plus in addition to a card like the Capital One Venture X Rewards Credit Card (review) (Rates & Fees), Capital One Venture Rewards Credit Card (review) (Rates & Fees), or Capital One Spark Miles for Business (review) (Rates & Fees), then each cent can be converted into one Capital One mile.
Personally I value Capital One miles at 1.7 cents each, meaning that the $1,200 bonus is potentially worth $2,040 (based on my valuation of 120,000 Capital One miles). If you’re able to pull off the spending requirement, this is an excellent return for such a large amount of spending.
Can you get approved for the Capital One Spark Plus?
All card issuers have some general application restrictions. However, Capital One probably has among the fewest consistent restrictions. Specific to the Capital One Spark Cash Plus, the welcome offer on the card isn’t available to those who already have the card, or those who who currently have the Capital One Venture X Business (review) (Rates & Fees).
Read my guide to getting approved for the Spark Cash Plus.
Bottom line
The Capital One Spark Cash Plus has an an excellent welcome bonus. If you are in a position to complete the spending requirement, this is a phenomenal bonus on a great card. The only other consideration is that there’s also merit to picking up the Capital One Venture X Business, which also has an excellent bonus, so that could be worth considering if you’re looking to use the card for travel.
Do you plan on picking up the Capital One Spark Cash Plus?
Same question: I have venture x, am I eligible for bonus on this card?
Yes
So if you currently have "Venture Business X" then you are not eligible for this card and offer?
I believe that Capital One only allows a person to have one no-preset-limit card. So, if you currently have the Venture X Business, I believe that Capital One would automatically not approve you for this card. If I'm wrong, someone please correct me. Personally, I could absolutely use two such cards (even if no SUB).
How does this card interact with the 5/24 rule?
Not reported. Capital One does report business *credit* cards but does not report business *charge* cards.
If my math is correct, this is a better offer than the Venture X Business card. With Venture X Business, you receive 150,000 miles/points after spending $30,000 on the card in 1st three months. With the Spark Plus Business card, you receive the same amount for only spending $20,000.
Am I overlooking something?
Incorrect both have the same conditions and miles/points rewards at 20k spend and again at 100k. Refer to their page and you will find it right below the conditions are the same.