Update: DEAD! Don’t miss it if this becomes alive again. Sign up for deal notification alerts here!
Update: This limited time offer is ending today, be sure to apply now before the offer goes down! On 3/14 at 2:59pm EDT this offer will go down to earning $1,000 cash back after spending $50,000.
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For a limited time, you can apply for the Capital One Spark Cash Plus and earn $500 cash back for opening the card and spending $5,000 in 3 months and another $2,500 cash back for spending another $45,000 in 6 months, for a total bonus of $3,000 cash back.
As you’ll also earn 2% cash back everywhere, you would get a total of $4,000 cash back for spending $50,000 in 6 months.
You can earn this bonus even if you have had this card previously. You can get approved for this even if you recently were approved for the Venture X.
If you have a Capital One Venture, Capital One Venture X, or Capital One Spark Miles card, you can transfer cash back into miles at $1 cash back to 100 miles ratio. That means you can convert the $4,000 cash back into 400,000 miles, where they can be much more valuable! You can even transfer rewards to other cardholders!
$150. Additional user cards are free.
Unlike most other Capital One cards, this card does not report spending on your personal credit report, so a high utilization rate of your credit line will not hurt your credit score.
It also means that it won’t hurt your Chase 5/24 count.
No Preset Spend Limit:
This card has no preset spend limit. It is a pay in full card with no APR as your balance is due in full monthly.
- 2% cash back everywhere.
- No foreign transaction fees.
You’ll earn a $200 cash bonus every year that you spend $200,000 or more on your card.
- Virtual card numbers for making online payments without your card number.
- Price protection for when items go down in price, up to $500/item and $2,500 per year within 60 days of purchase!
- Purchase protection for items damaged or stolen within 90 days, up to $10,000 per item.
- Rental car CDW insurance, primary coverage for rentals for business purposes.
- Extended warranty of 1 extra year, up to $10,000 per item.
- Lost Luggage Insurance, up to $3,000 per trip.
- Travel Accident Insurance, up to $250,000 per person.
You’ll need to spend $5,000 on this card within 3 months for $500 bonus cash back or a total of $50,000 in 6 months for another $2,500 bonus cash back.
You can pay your federal taxes for a 1.87% fee. If you overpay your taxes you can request a refund or apply it to your next year’s taxes.
My local natural gas company allows me to prepay up to $1,000 on a credit card for a $1.65 flat fee. That’s a great way to earn miles and help meet a spend threshold. My electricity supplier allows me to pay with a credit card for free as long as I am enrolled in autopay.
Airline and hotel transfer partners:
If you have a Capital One Venture, Capital One Venture X, or Capital One Spark Miles card, you can transfer cash back into miles at $1 cash back to 100 miles ratio. That means you can convert the $4,000 cash back into 400,000 miles, where they can be much more valuable!
You can also transfer cash back or miles to any Capital One cardholder!
You can transfer points from Capital One into these programs at the following ratios:
- Aeromexico (1:1, SkyTeam)
- Air Canada Aeroplan (1:1, Star Alliance)
- Air France/KLM Flying Blue (1:1, SkyTeam)
- Avianca LifeMiles (1:1, Star Alliance)
- British Airways Avios (1:1, OneWorld)
- Cathay Pacific Asia Miles (1:1, OneWorld)
- EVA (2:1.5, Star Alliance)
- Etihad (1:1, No alliance)
- Emirates (1:1, No alliance)
- Finnair (1:1, OneWorld)
- Qantas (1:1, OneWorld)
- Singapore (1:1, Star Alliance)
- TAP Air Portugal (1:1, Star Alliance)
- Turkish Airlines (1:1, Star Alliance)
- Accor Hotels (2:1)
- Choice Hotels (1:1)
- Wyndham Hotels (1:1)
By transferring points to Accor, you can also transfer points to the following airlines via Accor at an effective 2:1 ratio:
- Iberia (Which can also be transferred to British Airways)
- Virgin Australia
A nice perk is that after the 1,000 mile minimum transfer, you only need to transfer points in increments of 100, meaning you have fewer leftover points compared to other bank transfers.
- Avianca Lifemiles awards start at just 6.5K miles on United. Or save up for the 194K miles you’ll need for a round-trip first class flight in First Class from the US to Tel Aviv on Lufthansa with access to their amazing first class terminal during your connection with a Porsche transfer to your plane.
- Turkish Airlines has an incredibly generous award chart, with bargains on United like domestic awards, including Hawaii, costing just 7.5K miles in coach or 12.5K miles in business class! Tickets to Israel cost just 32K miles in coach or 47K miles in business class!
- 37K Flying Blue miles is enough to fly nonstop on Delta between North America and Israel.
- 120K Aeroplan miles is enough for a round-trip business class award between North America and 2 European cities.
- With 90K Cathay Pacific Asia Miles miles you can book a round-trip business class award between North America and Europe.
- With 180K Qantas points you can fly round-trip in El Al business class between NYC and Tel Aviv with no fuel surcharges.
- With 135K Emirates miles you can fly round-trip in A380 Shower Class from JFK to Milan with no fuel surcharges.
- With 217.5K Emirates miles you can fly round-trip in A380 Shower Class from JFK to Dubai with no fuel surcharges.
Dan’s Quick Thoughts:
If you have the ability to spend $50,000 in 6 months, this offer is a no-brainer!
You’ll wind up with $4,000 cash back or the ability to transfer that into 400,000 miles on a card like Venture X. From there you can transfer miles to an airline like Turkish, which can book you on United to Hawaii for just 7,500 miles in coach or 12,500 miles in business class or to Israel for just 32,000 miles in coach or 47,000 miles in business class. That’s a whole lot of free travel or cash back!
Will you signup for the Capital One Spark Cash Plus limited time offer?