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Capital One Spark Cash Plus
The Capital One Spark Cash Plus is a great cashback card offering 2% cashback on all purchases and if you carry Capital One Venture X Rewards Credit Card or the Capital One Venture X Business you can merge that cashback into Capital One Miles and garner the ability to transfer into partners.
In general…Capital One has been stepping up their game
In 2019, we learned that Capital One was introducing the ability to transfer miles into partner programs. This put them in a completely different league.
Then, in November 2021, they introduced what I called the best premium card for most people: the Capital One Venture X Rewards Credit Card with a stunning welcome offer.
Now…one of the most incredible offers of all time. If you’re unfamiliar with Cap1 Miles and their incredible uses – I’d suggest you read over 50 of the best ways to use them.
- The following partners are now 1:1
- Aeromexico Club Premier
- Air Canada Aeroplan
- Avianca LifeMiles
- Air France Flying Blue
- British Airways Executive Club
- Cathay Pacific Asia Miles
- Choice Privileges
- Etihad Guest
- Emirates
- Finnair Plus
- Qantas Frequent Flyer
- Singapore Airlines
- TAP Air Portugal Miles&Go
- Turkish Airlines Miles and Smiles
- Virgin Red
- Wyndham Rewards
- Accor transfer 2:1
- EVA transfers 2:1.5
Turkish offers an incredible deal – 45k miles one way from the USA to Europe.
Capital One keeping straight forward – unlimited 2% cashback
You heard it right. No limit. Get 2% cashback.
You said cashback or miles – what do you mean?
Fantastic question. If you carry a Capital One Spark Miles for Business, Capital One Venture X Rewards Credit Card, the Capital One Venture X Business, or Capital One Venture Rewards Credit Card that earns Capital One Miles you can actually convert the cashback, or Capital One Miles, you earn into miles and then transfer them into partner programs.
So that $1500 cash bonus = 150k Capital One Miles.
Note that you can’t convert the other away around – if you earned 75k miles off your Capital One Venture X Rewards Credit Card you can’t turn that into $750 cashback.
Use Avianca Lifemiles to fly Lufthansa First Class on the 747-8i like I did. Just 87k one way.
This is a business credit card. You may have a business and not realize it.
Capital One is very friendly to entrepreneurs and small business owners. In fact, if you haven’t been in business for long, or you haven’t established yourself with an EIN, you can still apply as a Sole Proprietor ( fill in your SSN ). If you run a small side business (think bloggers, ebay sellers, tutors, consultants, etc) and want a card to segregate your business income from your personal income at tax time…this is a great opportunity to earn a load of points and help yourself out.
Personally, I have two businesses that I run, one has an EIN, and one doesn’t. I still need to keep all of their records separate, and so I have cards for each business.
Do Capital One Business credit cards affect my 5/24 number. Yes and no
According to MilesTalk – The Capital One Spark Cash Plus does not report to your personal credit, but the brother in law Capital One Spark Miles for Business does. So…for this deal, you don’t have to worry about it affecting your personal report.
Any other rules I should know? Yes, makes sure you read.
Zach… I heard that Capital One will only process one credit card per 6 months…this is ordinarily true; however, it looks like Capital One is changing their game a bit and reports are already coming out indicating that those of us who picked up a Capital One Venture X Rewards Credit Card are getting approved just a couple months later for the Capital One Spark Cash Plus
It does explicitly state in the terms and conditions the following circumstances would be ineligible:
- I have applied for a Capital One credit card 2 or more times in the last 30 days.
- I have 5 or more open credit card accounts with Capital One.
This is a charge card not a credit card
The full balance is due every month.
My Business doesn’t spend $30k in 3 months. Keep reading.
Are there expenses that your business pays that it isn’t putting on a credit card ? Like taxes, rent, club dues, educational services, etc? These expenses could be a way for your business to hit a minimum spend requirement and earn a large welcome bonus.
Services like Plastiq allow you to pay those bills through them for a fee – Plastiq is ordinarily 2.5%
Even though you’re paying an additional fee, the total cost of doing so could end up being far less than the value of the rewards you earn. Make sure you crunch the numbers and make a decision with the most information.
Overall
Capital One has changed its presence significantly, and certainly piqued this blogger’s interest in their entire program. Transfer partners is a must these days, and Capital One has changed with the times. Having a welcome bonus that is absolutely monstrous is akin to when the Count of Monte Cristo threw a lavish party to announce his arrival on the scene. Who is that Count? He looks so familiar, but feels so fresh and new and attractive. I must put him in my wallet, and a year after it’s big splashy party…he’s back splashing again.
Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.
The responses below 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.