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*note – some of the offers listed below are no longer available
Capital One flipped a switched in November, 2018, and with a mega 200k welcome offer, announced to the world that they were here to compete in the ever crowding transferrable points credit card market. Move over Chase, Citi, and Amex – Capital One is the new kid on the block with a blow out welcome bonus, and the ability to provide its users the option of turning their travel dreams into reality. That amazing welcome bonus is ending on the the 28th of this month.
A closer look at the offer – how do their points work?
A whopping 200k bonus points after completing minimum spend of $50k in 6 months on their Capital One Spark Miles business card. On top of a massive welcome offer, you’ll continue to earn 2 miles for every dollar you spend, which equates to 1.5 airline miles on nearly all of their transfer partners. When all is said and done…you’d have 300k miles in your account, or 225k airline miles.
Here are the details of the card.
- Spend $5k in the first three months and get a 50k bonus
- Spend $50k in the first 6 months and get another 150k bonus, totaling 200k total bonus miles.
- Earn 2x on all purchases with no limit.
- No foreign Transaction fees
- $95 annual fee, waived first year
As we mentioned: if you hit the $50k spend with The Capital One Spark Miles for Business credit card your account will have 300k miles in it, or 225k airline miles. That’s just ridiculous.
There isn’t a card on the market right now with a public offer that will come anywhere close to earning you those kind of numbers. That’s 4.5 miles on any spend you make, non category bonus, just put your business spend on the card and earn baby earn. We just flew Air France and redeemed 55k Flyingblue miles.
The good good: 14 airline partners
The ability to transfer into other programs equates to you flying in those crazy aspirational business and first class flights we all drool over. For instance, Aeroplan is a partner, and you can redeem just 70k Aeroplan miles to fly Lufthansa First Class from the US to Europe. The welcome bonus alone is worth 3 one ways which Lufthansa charges nearly $10k a piece.
In fact, Aeroplan, Air France, Avianca, Cathay Pacific, and Etihad are all programs we’ve written about in the past that facilitate the aspirational redemptions we want to achieve. Now they’re Capital One partners as well.
- Aeromexico
- Air Canada Aeroplan
- Air France/KLM
- Alitalia
- Avianca
- Cathay Pacific
- Emirates ( 2:1)
- Etihad
- EVA
- Finnair
- Hainan
- Qantas
- Qatar
- Singapore Airlines ( 2:1 )
Avianca prices Asiana First Class at 90k miles one way from the States to Asia. These are insane suites with doors that close. They’ve also been known to put these routes on sale…72k miles.
Do Capital One Business credit cards affect my 5/24 number. Yes.
If this is something that you’re worried about, then you should apply knowing full well that Capital One does report your small business credit on your personal credit report.
Any other rules I should know? Yes, makes sure you read.
Capital One will only process one credit card per 6 months…so if you’ve already applied for one in that time frame, you’re going to have to wait. This means both business and personal.
My Business doesn’t spend $50k in 6 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.
Not interested in a Business Card – check out our post on the Capital One Venture Rewards card – their top of the line personal card.
It’s offering a competitive 50k welcome bonus, but more than that, and the feature of the card that most excites me…10x points at hotels.com – that’s insane, and you’ll earn a free night for every 10 nights you book with hotels.com. That’s a great double dip, although do keep in mind that you won’t get elite benefits when booking through a consolidator. Although…at that earn rate, it may be worth considering which is a better benefit in the long run.
Details:
- 50k welcome bonus after $3k spend in 3 months from account opening
- 2x miles on every purchase
- 10x miles on purchases made with hotels.com
- $100 credit for Global Entry and TSA Pre
- Transfer miles to 14 partners
- No foreign transaction fees
- $95 annual fee – First Year is waived
Overall
Capital One has not only overhauled their program with a massive improvement, but in doing so, they hit the market with a MONSTER offer. Time is running out, so if your business has some hefty spend in the upcoming months, and you’re looking to fly with your champagne held high…the Capital One Spark Miles is well worth your time.
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