Posted by William Charles on May 21, 2015
Business Credit Cards

Published on May 21st, 2015 | by William Charles

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Capital One Spark Business Cards Now $500/50,000 Mile Bonuses After $4,500 In Spend

The Offer

Capital One has increased the sign up bonus on both their Capital One Spark Cash & Capital One Spark Miles credit cards. The offers are as such:

capital one spark cash

The Fine Print

  • Annual fee of $59 is waived the first year on both cards
  • Cash card earns at 2% cash back on all purchases, miles card earns at 2x miles on all purchases
  • No foreign transaction fees
  • EMV Chip

Our Verdict

The big downside to Capital One is that they pull all three credit bureaus when you apply for one of their cards (read this post to understand why this is important). I think I’m still going to pull the trigger on this card, I’ve been uhming and ahhing for awhile (when the bonus was $300). Here is my plan:

I’d end up needing to spend a total of $7,500 and I’d receive $500 in cash and 40,000 miles (these miles are worth 1¢ each). Basically I’d be getting $900 in sign up bonus value and earning 2% cash back on the $7,500 and in return I’d get three hard pulls, that’s $300 per hard pull and something I’m more than happy with.

[Read: Best credit card cash sign up bonuses]

I could take it one step further and also apply for the Capital One quicksilver card, that only has a bonus of $100 but it also gets 21.5% cash back on Uber rides (and two free rides) until April, 30th, 2016. I also have a business which makes applying for this card a bit easier, I’m not sure how lenient capital one are with people applying using SSN and new businesses.

Am I being crazy here or is this actually a good plan? What are your thoughts? Let me know people! Also a warning about getting inquiries combined, if you’re not instantly approved Capital One seems to pull your report again if you call reconsideration (no personal experience with this).



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mike
mike

“Also a warning about getting inquiries combined, if you’re not instantly approved Capital One seems to pull your report again if you call reconsideration (no personal experience with this).”

I can confirm if you don’t get both cards instantly, there will be six pulls total.

Tom Brady
Tom Brady

If that happens you should be able to call up the bureaus and have the extra pulls removed. I know for a fact that this can easily be done with Experian. I’m not sure about the other bureaus, but I would assume it can be done also.

el
el

you need to spend $9000 not $7500

Steven
Steven

Will CapOne extend this bonus to people who just recently signed up for the card?

Tom Brady
Tom Brady

Anyone here got approved for a Capital One card with a frozen experian report?

phantasmic
phantasmic

Yes myself and spouse both got instant approval with a frozen exp but if its not instant I don’t know what happens.

Tom Brady
Tom Brady

Thanks! Great data point. I think I’ll go for this now.

wwllmm
wwllmm

Can I ask what service you folks use for your real-time monitoring of credit pulls? Seems like the free scores, etc provided w/ some CCs are fairly stale…

h
h

Can you please do an article about calling credit bureaus and getting extra pulls removed. What # to call, what story to tell etc.

Thanks so much. This site is a treasure trove. Learned so much within last few days.

Tom Brady
Tom Brady

An article would be great, but it’s really fairly simple. You just call up the bureau, tell them the bank unnecessarily pulled your report an extra time or two, and they’ll remove the duplicate pulls.

Lee
Lee

Can you transfer Capitol one miles to any airlines? What’s benefits of their miles?

gabe
gabe

is it common to get instantly approved for a first business credit card with capital one? I know with bank of America the first application usually requires calling reconsideration.

MilesCollector
MilesCollector

I have Capital One Sparks Business Card for a very long time. I recently got the Venture Card with 50K bonus few months back. Do you think if I apply for second Capital One sparks business card, that I will be qualified for this offer?

Keith
Keith

Can you apply for the Spark Business in the branch to have the annual fee waived entirely instead of just the 1st year

Or can you apply online and then go into a branch to get the annual fee waived entirely instead of just the 1st year.

csdx
csdx

Interesting that it just became a public offer instead of targeted. I’ve just finished the spend for a targeted offer for the 1.5% Spark Select card. Has this sort of offer for the 2% Spark been publicly available before? If so I might want to just sit this out and work through the Chase ink spending I’ve currently got.

heather
heather

My husband received this offer in the mail. I wish I would have known about combining pulls – oh well. Once we received his card in the mail, he called to add me as an ap so I could help with the spend and they gave us another $50 for

heather
heather

oops continuing previous comment:

for adding an ap. I couldn’t find anywhere in the offer that this is mentioned, so I don’t know if they would continue to give $50 for ap’s. I’m not sure I would do it though because even though it’s a business card is reports to both of our credit files. My husband also received an offer for the FIA and I’m wondering would you get that also or do we really need two 2% cards?

Tony
Tony

“Existing or previous Spark cardholders may not be eligible for this one-time bonus.”

Any idea what the “May not be eligible” entails? I just got approved and bonused on this card within the last three months. Next week I should be ok to apply for a couple more cards. If there is any data on two approval/bonuses for this card it would be great to know.
Thank you

Ben
Ben

Will Capital One approve biz cards if EX report is frozen?

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