Can You Get Both Spark Business Cards?

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A couple of weeks ago Capital One made some exciting announcements. Not only did they reveal that they’d introduce a transferable points currency, but they rolled out massive welcome bonuses on two of their business credit cards.

The increased Spark Business welcome bonuses

The Capital One® Spark® Miles for Business has a $95 annual fee that’s waived for the first year, and offers a tiered welcome bonus of up to 200,000 miles, as follows:

  • Earn 50,000 Spark miles when you spend $5,000 within the first three months
  • Earn an additional 150,000 Spark miles when you spend $50,000 within the first six months

Meanwhile the Capital One® Spark® Cash for Business has a $95 annual fee that’s waived the first year, and offers a tiered welcome bonus of up to $2,000, as follows:

  • Earn $500 when you spend $5,000 within the first three months
  • Earn an additional $1,500 when you spend $50,000 within the first six months

How good are these bonuses really?

These really are fantastic bonuses.

With the Capital One Spark Cash for Business you’re earning $3,000 after spending $50,000 within the eligible period ($1,000 + $2,000), meaning you’re earning the equivalent of 6% back on that spend.

Meanwhile with the Capital One Spark Miles for Business you’re earning 300,000 Spark miles after spending $50,000 within the eligible period (100,000 + 200,000), which gets you either $3,000 towards travel or up to 225,000 airline miles. That’s the equivalent of earning six cents per dollar towards travel, or 4.5 airline miles per dollar spent.

The airline miles math there is based on the transfer ratio Capital One will offer for airline programs, which is up to 2:1.5.

Transfer PartnerTransfer Ratio
Aeromexico (Club Premier)2 : 1.5 | 1000 : 750
Air Canada (Aeroplan)2 : 1.5 | 1000 : 750
Air France KLM (Flying Blue)2 : 1.5 | 1000 : 750
Alitalia (MilleMiglia Program)2 : 1.5 | 1000 : 750
Avianca (LifeMiles)2 : 1.5 | 1000 : 750
Cathay Pacific (Asia Miles)2 : 1.5 | 1000 : 750
Emirates (Emirates Skywards)2 : 1 | 1000 : 500
Etihad Airways (Etihad Guest)2 : 1.5 | 1000 : 750
EVA Air (Infinity MileageLands)2 : 1.5 | 1000 : 750
Finnair (Finnair Plus)2 : 1.5 | 1000 : 750
Hainan Airlines (Fortune Wings Club)2 : 1.5 | 1000 : 750
Qantas (Qantas Frequent Flyer)2 : 1.5 | 1000 : 750
Qatar Airways (Privilege Club)2 : 1.5 | 1000 : 750
Singapore Airlines (KrisFlyer)2 : 1 | 1000 : 500

Personally I have a slight preference for the Capital One Spark Miles for Business because I value airline miles, while someone who is looking for cash back can’t go wrong with the Capital One Spark Cash for Business.

Capital One card eligibility rules

For those into miles and points, Capital One is generally not an issuer that’s talked about much (that’s going to change now, given their transferable points currency). Therefore we don’t have nearly as many data points when it comes to restrictions on being approved and earning welcome bonuses as we have with other issuers.

The terms for both applications state the following, which is rather vague:

The bonuses may not be available for existing or previous Spark cardholders.

So as you can see, that’s not terribly revealing. So while I can’t guarantee all of the below is true 100% of the time, my general understanding with Capital One card applications is as follows:

  • Capital One pulls from three credit bureaus; personally I don’t find that to be a huge deal one way or another, but it’s worth being aware of
  • Many report that Capital One business cards are easier to be approved for than Capital One personal cards (which seems odd, but…)
  • Anecdotally it seems like you can get the Spark Cash and earn the welcome bonus if you have the Spark Miles (or have had it in the past), and vice versa, and in some cases you can even get a card you’ve had in the past
  • You typically can’t apply for two cards the same day; the second card (even if different) will automatically be marked as a duplicate
  • You can typically be approved for at most one Capital One card every six months, regardless of whether they’re personal or business cards

That last point is the biggest restriction here. Expect that you can be approved for at most one Capital One card every six months, which means you should put a lot of thought into which Capital One card you apply for.

Bottom line

Realistically you should only expect to be approved for one Capital One card every six months, whether personal or business. So while you can get both the Capital One Spark Miles for Business and Capital One Spark Cash for Business over time, you’ll likely have to do so several months apart.

We don’t know how long the current offers will last, so I’d only expect to get the huge increased bonus on one card. Which card makes more sense depends on whether you prefer cash or miles.

If you have any data points to share regarding Capital One card approvals, please do!

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Comments

  1. Those bonuses are really good, particularly when the information is incorrect.

    “With the Capital One Spark Cash for Business you’re earning $3,000 after spending $50,000 within the eligible period ($1,000 + $2,000), meaning you’re earning the equivalent of 6% back on that spend.”

    vs.

    “Meanwhile the Capital One® Spark® Cash for Business has a $95 annual fee that’s waived the first year, and offers a tiered welcome bonus of up to $2,000, as follows:

    Earn $500 when you spend $5,000 within the first three months
    Earn an additional $1,500 when you spend $50,000 within the first six months”

  2. @ Brutus — Sorry for any confusion, but the info is correct. The first part refers to the total miles you’d earn for spending $50,000, which includes the base 2x miles you earn. The second part is about the welcome bonus as such, not including the miles you’d usually earn for that spend (since you’d earn those miles no matter what if spending that amount).

  3. *****MILES AND MORE IS HAVING PROMOTION FOR NEXT 3 DAYS ONLY 55,000 MILES FOR RT BUSINESS CLASS TO MANY EUROPEAN CITIES****
    IMMA GONNA REDEEM

  4. The big bummer is the business card ends up In your personal file :-/ I have one and kind of regret it as I am at 5/24 without the spark I would be under 5/24

  5. Other commentors are indicating this business card goes on your personal credit report. If this is true you really should have that at the top of the article, otherwise many readers may get screwed when they find out this card counts towards 5/24 after the fact. If it goes on my personal report this card is a hard pass for me.

  6. Couple other things to keep in mind.
    1. There’s the opportunity cost of the spend you would put on another card if you didn’t put it here.
    2. With the travel version, using travel eraser means you have to charge the travel to this card. Since I can put travel on the CSR for 3x airline miles (and there are other cards that earn 5x miles on various forms of travel), the opportunity cost is higher. And I would also lose the CSR travel protection benefits by using the Capital One card. So while I normally go for miles over cash back, in this case cash back seems better.

  7. DP: applied for spark Miles in biz A and applied for cash in Biz B minutes apart. Both biz have EINs and are less than 2 years old. Received instant approval for both. I’m 15/24 with 2 cap 1 cards: quicksilver and venture. They are on my Personal credit card.

  8. That’s a bummer for me because I’ve never not had a credit card approved. But I applied today and got a “we’ll let you know in 7-10 days” message. I wonder if it could be because a) my partner just got a personal Venture and we’re at the same address, or b) the address doesn’t match the address associated with my EIN. I doubt they check that, but I’m never sure what address to put for businesses since there are multiple possibilities. My tax ID is 6 years old, revenue is very high.

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