Capital One Spark Cash Plus $3,000 Bonus (Ends March 14)

Apply now for the Capital One Cash Plus.

The Capital One Spark Cash Plus had a huge welcome bonus. This is the biggest credit card welcome bonus we have ever seen, and it is a no-brainer for big spenders.

The current bonus is a limited time offer, but we don't know the end date. The card application page has been updated to reflect that the offer will be ending soon.

Capital One Spark Cash Plus offering $3,000 bonus

Capital One is offering a limited time welcome bonus of up to $3,000 cash back.

• Earn $500 cash back when you spend $5,000 within the first three months
• Earn an additional $2,500 cash back when you spend a total of $50,000 within the first six months
• In other words, you’d earn a total of $3,000 cash back after spending $50,000, which is the equivalent a 6% incremental return

How rewarding is the Capital One Spark Cash Plus?

One of the best cash back cards out there is the Capital One Spark Cash Plus, which has a $150 annual fee, but is one of the most rewarding business cards out there.

• The card offers unlimited 2% cash back, making it one of the best cards for everyday spending
• The card offers an additional $200 cash back when you spend $200,000 on the card in a year, so it’s especially rewarding for big spenders
• The card is a charge card, so has no pre-set spending limit, making it ideal for big purchases
• The card has no foreign transaction fees, so you can earn 2% cash back globally

If you spend $50,000 with the current bonus, you will earn a total of $4,000 in cash back, which is the equivalent of 8% return. That is simply incredible.

The Capital One Spark Cash Plus is reviewed here.

Convert cash back into Capital One miles

One of the great things about the Capital One Spark Cash Plus is that you can convert cash back into Capital One miles at a rate of one cent per mile. You could get 300,000 Capital One miles with the bonus of $3,000.

If you have the Capital One Venture X rewards credit card, you can get the Capital One Spark Cash Plus.

I value Capital One miles at 1.7 cents each.

• The $3,000 bonus is potentially worth $5,100 (based on my valuation of 300,000 Capital One miles)
• Since you earn a total of 400,000 miles after spending $50,000, that’s potentially the equivalent of 13.6% back on that spending, by my valuation

This is an unheard of return for such a large amount of spending if you are able to pull off the spending requirement.

Can you get approved for the Capital One Spark Plus?

I know a lot of people have picked up the Capital One Venture X rewards credit card, so the question is what the chances are of being approved for the Capital One Spark Cash Plus.

There is good news on the front. I was approved for the Capital One Spark Cash Plus when I applied.

There are a few more thoughts.

• Anecdotally it appears that you’re eligible for the bonus on the Capital One Spark Cash Plus even if you have another Capital One Spark card
• Applying for this card shouldn’t count as a further card toward Chase’s 5/24 limit, if that’s a consideration
• Capital One doesn’t have many consistent card application rules; while there have been rumors that you can only have two Capital One cards and can only apply for one Capital One card every six months, me getting approved for this card contradicts both of those rumors, so I don’t think they’re true (and several others have had the same experience)

It looks like things are going well when it comes to getting approved for the Capital One Spark Cash Plus. I recommend applying if you are interested, and hopefully you are pleased with the results.

Bottom line

After spending $50,000, the Capital One Spark Cash Plus has a huge welcome bonus of up to $3,000 cash back. The bonus is only available through March 14, 2022.

If you combine it with the card's 2% cash back, you could see an 8% return on your first $50,000 spent. You could convert these rewards into Capital One miles at a rate of one cent per mile. The value of this offer is increased even further by my valuation of Capital One miles.

I was approved for the Capital One Venture X within the past few months, so I was excited when I applied for this card. This is an unparalleled offer for anyone looking for a business card that can complete that spending. My Capital One mileage balance is growing fast.

Are you going to pick up the Capital One Spark Cash Plus with a $3,000 bonus?