When a welcome offer gets bigger, my ears perk up. And that’s exactly what happened with the Capital One Spark Cash and Capital One Spark Cash Plus business cards.

The offers are some of the best we’ve seen, but there’s one catch: you’ll need to be comfortable with a serious minimum spending requirement. If you have a plan, these offers can be fantastic. If you’re stretching your spending just to be able to earn the bonus, they’re probably not the right fit.

 
 

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Learn How to Apply
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Every time a card comes out with an elevated welcome offer, I ask myself one question: Can I realistically meet the minimum spend without changing how I spend my money?

If the answer is yes, I’m interested. If the answer is no, I move on. Those are incredible bonuses, but only if you’re already planning to spend that money.

One of the biggest mistakes I see people make is getting excited about the bonus first and worrying about the spending later. That’s a totally backward approach that is sure to induce a lot of stress. (And my goal is not to create more stress in my life!)

Here at Points Talk Squad, we’re all about making your everyday spending work harder for you, not spending more just to earn points.

 

Making a Big Minimum Spend

So how do you tackle a minimum spend this large? I mean, spending $10,000 or $30,000 is not an easy feat!

For business owners, it can actually be easier than you think. Advertising costs, inventory, software subscriptions, shipping expenses, office equipment, business travel, insurance premiums, and even estimated tax payments can add up quickly.

But even if your business is a side hustle, there are still plenty of opportunities. Maybe you’re paying for website hosting, social media ads, photography, conference registrations, or supplies for your business. Those are expenses you’d be making anyway.

And don’t forget about larger personal expenses that you can use credit cards to pay. Medical bills, home-improvement projects, tuition, family vacations, annual insurance premiums, and even tax payments can help you reach a big minimum spend, provided any processing fees are worth the value of the welcome offer.

Whenever I’m working toward a large bonus, I have a plan before the card even arrives.

Sometimes that means timing an application around a big trip I’m booking for the family. Other times, it’s knowing estimated taxes are due or that a major expense is already on the calendar. The bonus follows the spending. The spending never follows the bonus.

One feature I especially like is that these cards don’t have to stay “cash back” cards. If you also have a Capital One miles-earning card, you can convert those cash rewards into Capital One miles and transfer them to airline and hotel partners. That’s where the magic happens for points-and-miles travelers.

 

My Favorite Ways to Meet a Large Minimum Spend

• Pay estimated federal or state taxes
• Prepay business expenses you know are coming
• Book upcoming family travel
• Pay annual insurance premiums
• Cover medical or dental bills
• Pay tuition if your school accepts credit cards
• Shift every possible everyday expense to the new card during the welcome offer period

 

Bottom Line

Would I apply for one of these cards? Only if I knew exactly how I would meet the spending requirement. And I have applied for and gotten these huge bonuses in the past, primarily by paying my estimated taxes with them.

Big bonuses are exciting, but they’re only worth it when they fit naturally into your budget. The goal isn’t to spend more. The goal is to earn more from the spending you’re already doing.

 

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