(Ending Soon) Capital One Spark Cash Plus: New Welcome Bonus, Up To $3,000 Cash Back

UPDATE: This offer is scheduled to end on March 11, 2024.

Until recently, the Capital One Spark Cash Plus has a welcome offer of $1,200 cash back if you spent $30,000 in 3 months. Needless to say, that is a steep minimum spend requirement.

However, Capital One just launched a two-tier welcome offer that's worth a look:

• Earn $1,500 miles after spending $20,000 in 3 months
• Earn an extra $1,500 miles after spending a total of $100,000 in 6 months

To clarify, to earn the second part of the bonus, you need to spend an additional $80,000 on top of the initial $20,000. So, you can get $1,500 miles for $20,000 spent and $3,000 from $100,000 spent within the appropriate timeframes.

Since the card earns 2% on everyday spend, you'd also earn 2% back on that $100,000 for an additional $2,000 back.

The Spark Cash Plus has a $150 annual fee. If you spend $150,000 in a year, you'll get a $150 credit.

Turn Capital One Cash Back Into Transferable Points

If you have a Capital One Venture X, Capital One Venture, Capital One Venture X Business, or Capital One Spark Miles, you can move your cash back to any of these cards at a rate of 1 mile per cent. So, $1,500 cash back equals 150,000 Capital One Miles and $3,000 back equals 300,000 miles.

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Points Wire Note:

The minimum spend required is still steep, but it's much better than the previous requirement.

While only many businesses will only spend enough to earn the first part of the bonus, it's worth it if you ask me.

If you're trying to stay under 5/24 so you can get another Chase card, please note that this card will not show on your personal credit report. That means it won't impact your 5/24 status.