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Doctor or Credit reports on a new offer on the Capital One Spark Cash Select card that’s good for $750 cash back after spending $6,000 in the first 3 months. That’s an excellent offer on this card that features no annual fee, and if you have Capital One miles-earning cards, the bonus could potentially be much more valuable yet if you move the rewards to one of those cards.
The Offer & Key Card Details
| Card Offer and Details |
|---|
$500 Cash Back ⓘ Affiliate One time bonus: $500 after $4,500 spend in 3 months from account opening. (Rates & Fees)No Annual Fee Note: Most Capital One Business credit cards (including this one) DO count against Chase's 5/24 Rule Recent better offer: Expired 9/9/24: $750 Cash Back after $6k spend in 3 months FM Mini Review: This is a good option for business owners looking for simple cash back rewards with no annual fee. If you spend $30,000 or more per year, though, you would be better off with the 2% Spark Cash Plus card. Earning rate: 1.5% everywhere ✦ 5% on hotels and rental cars booked via Capital One Travel Base: 1.5% Card Info: Mastercard issued by CapOne. This card has no foreign currency conversion fees. Noteworthy perks: No foreign transaction fees |
Quick Thoughts
This is a great bonus on a card with no annual fee. While the required spend is on the high side, it is relatively manageable and if you keep the welcome bonus as cash back, you would end up with an effective 14% total cash back on the first $6K in purchases between the welcome bonus and the 1.5% you’d earn on all purchases with this card.
However, where the welcome offer can really shine is if you also have a Capital One card that earns miles. It is possible to convert cash back to Capital One miles at a rate of $0.01 per mile, so the $750 cash back could become 75,000 transferable miles. Given that Capital One has a strong set of transfer partners, that could make for a fantastic deal. For instance, that could be enough miles for 5 economy class round trip tickets to Hawaii via Turkish Miles & Smiles or perhaps enough miles for a business class ticket to Europe or Asia with other partners.
Capital One can be tough on approvals, particularly for folks who have a lot of other credit cards, but for those who can get approved this could be a very good offer. The card isn’t a good option for ongoing spend given the subpar 1.5% earning rate, but this new offer and the lack of an annual fee certainly make it interesting.
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@Nick Reyes reyes – appears dead already.
Interesting that this is identical to the standard offers on Chase Ink fee-free cards. Counting towards 5/24 is a major downside though. Seems like this is only better if you strongly prefer Capital One points over Chase, or you don’t care about 5/24. Most folks in the latter group are likely way over 5/24 with no intent to come down anytime soon, making it far less likely they will be approved for this card anyway.
That being said, there are not a ton of good welcome offers out of Capital One, so this might be welcome for those who already have the main cards and want to get more points in the same ecosystem.
Is the rule still 1 Cap One card every 6 months?
Yes.
https://www.doctorofcredit.com/capital-one-tightens-churning-rules/
Confirmed by my personal experience a year and half ago or so, presumably still the same.
scored Cash Select Biz for P2 – we haven’t played w/ Cap one cards yet… we will try to get a cap one card that earns miles to capitalize on transfer to partners – which one do you recommend?
Air Canada
Counting toward 5/24 is a bummer! Working to get under.