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The all-time high intro bonuses for a couple of Capital One business cards have returned. You can earn up to 200,000 Spark miles after meeting tiered minimum spending requirements with the Capital One® Spark® Miles for Business card and up to a $2,000 cash bonus after meeting tiered minimum spending requirements on the Capital One® Spark® Cash for Business.
To earn the full bonus for each card you’d need to spend $50,000 in the first six months. In addition to the bonuses, the cash back or miles you earn from the minimum spending will amount to another $1,000 cash back or 100,000 Spark miles. That’s because the Spark Cash for Business for earns 2% cash back on all purchases and the Spark Miles for Business earns two Spark miles per dollar.
The big spending requirements aren’t practical for many, but the offers are coming at the perfect time because some folks will be able to apply for the card and meet the minimum spend as they pay for their quarterly or yearly taxes. In any event, you can earn the first tiered bonus of 50,000 Spark miles or $500 cash after spending only $5,000 in the first three months of account opening.
Here is a quick rundown of these new bonuses and what you can do with them.
Capital One Spark business card offers
To qualify for a Capital One business card you don’t necessarily need to be running a full-time business. I’ve applied, and been approved for, Capital One business cards as a freelancer. Even if you’re an independent contractor, like driving for Uber or Lyft, you can qualify for small business cards.
Keep in mind when it comes to Capital One business cards is that they will appear on your personal credit report. In most cases this isn’t a big deal, but it does mean that Capital One business cards will add to your Chase 5/24 count, while most other business cards will not.
Capital One® Spark® Miles for Business
Review: Capital One Spark Miles
If you’re interested in travel rewards, then you’ll want to consider the Capital One Spark Miles for Business card. If you’re approved, you’ll earn 50,000 Spark miles after spending $5,000 on purchases within the first three months of account opening. You’ll earn an additional 150,000 Spark miles after spending $50,000 total (an additional $45,000) in purchases within the first six months of account opening.
The card comes with additional benefits like:
- 2x Spark miles on every purchase with no cap
- No foreign transaction fees
- $0 annual fee the first year then $95 after that
You can redeem Spark miles at a rate of one cent each toward travel expenses, but the biggest benefit for the Capital One Spark Miles for Business is the ability to transfer your miles to airlines. Because you’re earning two Spark miles per dollar spent, you’ll have 300,000 Spark miles once you meet the minimum spending requirements for the full bonus (200,000 bonus miles + two Spark miles X $50,000 minimum spending requirement). That’s absolutely bonkers and worth a minimum of $3,000 and potential more if you transfer your miles to partners.
With the return of this massive bonus offer, this card is getting an added benefit — now you’ll now earn 5x Spark miles on hotels and rental cars booked through the Capital One Travel site.
You can also transfer Capital One miles to these 15 airline partners:
- Air Canada (Aeroplan)
- Air France and KLM (Flying Blue)
- Cathay Pacific
- Emirates (2:1 transfer ratio)
- EVA Air
- Hainan Airlines
- JetBlue (2:1 transfer ratio)
- Qatar Airways
- Singapore Airlines (2:1 transfer ratio)
The transfer ratio for all of the airlines (except Singapore, JetBlue and Emirates) is 2:1.5, so you’ll be getting 1.5 airline miles for every 2 miles you transfer. That makes the bonus on the Capital One Spark Miles for Business card (including the points you’ll earn for the minimum spending) worth up to 225,000 airline miles. If you want to make the most of your Capital One rewards, check out our guides on the best ways to use Capital One miles and on how to use Capital One miles.
Apply here: Capital One Spark Miles business card
You could transfer your miles to Singapore Airlines’ and book its incredible new first class suite!
Capital One® Spark® Cash for Business
With the Capital One Spark Cash for Business card, you can earn a $500 cash bonus after spending $5,000 on qualifying purchases within the first three months of account opening. Plus, you can earn an additional $1,500 when you spend $50,000 total (an additional $45,000) in qualifying purchases within the first six months of account opening.
The Capital One Spark Cash for Business card also comes with the following perks:
- 2% cash back on every purchase
- No foreign transaction fees
- $0 annual fee the first year, then $95
- Free employee cards
If you love the simplicity of cash back and you can meet the spending requirements, you’re not going to find a bigger cash-back offer than this. You can collect an insane $3,000 in cash after meeting the minimum spending requirements because, in addition to the welcome offer, you’ll earn 2% cash back on your $50,000 minimum spending ($1,000).
Apply here: Capital One Spark Cash business card
Featured image by Dmitry Lobanov/Shutterstock.