The Capital One Spark Miles Business Card has been making waves lately with a
The Capital One Spark Miles Business Card offers 50,000 miles when you spend $5,000 in three months. Plus another 150,000 miles when you spend $50,000 within 6 months. That’s a little over $8,000 per month in spending requirements. Or six trips to Walmart, as I like to think of it.
“Isn’t Walmart dead as a manufactured spending source?” Not exactly. While liquidating Visa gift cards via money orders is more of
It’s probably not the best idea to put $50,000 worth of gift card purchases on a new credit card right out of the gate. Since Capital One isn’t a huge player in the rewards credit card game, I doubt they’re imposing Amex-level stringency around gift card churning. But they also might not let $50,000 worth of gift card purchases slide. Especially when it’s costing them $2,000 per customer. Across 6 months, I personally wouldn’t feel anxious about putting a mix of regular and manufactured spending on that card. But I could be wrong and it could lead to a shut-down for those who do it this way.
Other Ways to Meet the $50,000 Spending Requirement
If you can float some cash, Kickfurther is a good option for meeting spending requirements and generating a cash profit. This is also a good time to get into reselling and merchant gift card churning. In the past, I did pretty well churning iTunes, Starbucks, and Gap gift cards around the holidays. Even with The Plastic Merchant out of the picture, there are other places to resell gift cards at a favorable rate. If you’re able to pull it off, I’d go this route rather than buying Visa and MasterCard gift card. Or at least try to work this into your routine.
I’ve come across a few goldmines at stores like Marshall’s and Nordstrom Rack. A famous toy brand recently showed up at Marshall’s, with markdowns that translate to a 20 – 40% profit after fees. Toys and board games are big right now, so if you’re able to stock up on a hot item, that might be a good way to meet the massive spending requirement for the Capital One Spark Miles Business Card. And maybe even generate a nice profit.
Is it Worth it?
So is the
Some people are going to be turned off by the huge spending requirement. It’s going to be especially challenging if you don’t have a reliable manufactured spending source. If you have other spending requirements to meet (for credit card sign-ups or annual spending bonuses), diverting $8,000 a month to the Capital One Spark Miles Business Card could make things more difficult.
I haven’t decided whether to get this card or not. I did cancel a bunch of credit cards recently, so my wallet is a little light. And I do like that I’d be earning the equivalent of 2% cash back on $50,000 worth of spending, Even though I’ll incur three credit pulls, I think the $2,000 reward is worth it. And on par with the
I’d love to know your thoughts on this in the comment section.