August 11, 2022

Capital One’s Venture X, Spark Cash Plus welcome bonuses end soon

Select’s editorial team works independently to review financial products and write articles we think our…

Capital One’s Venture X, Spark Cash Plus welcome bonuses end soon

Select’s editorial team works independently to review financial products and write articles we think our readers will find useful. We earn a commission from affiliate partners on many offers, but not all offers on Select are from affiliate partners.

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Capital One Venture X and Spark Cash Plus bonuses ending March 14

Capital One Venture X Rewards Credit Card

Information about the Capital One Venture X Card has been collected independently by Select and has not been reviewed or provided by the issuer of the card prior to publication.

  • Rewards

    10X miles on hotels and rental cars, 5X miles on flights when booked via Capital One Travel; unlimited 2X miles on all other eligible purchases

  • Welcome bonus

    100,000 bonus miles after spending $10,000 on purchases within the first six months of account opening

  • Annual fee

  • Intro APR

  • Regular APR

    16.99-23.99% variable APR

  • Balance transfer fee

    Either $10 or 4% of the amount of each transaction, whichever is greater

  • Foreign transaction fees

  • Credit needed

With the Capital One Spark Cash Plus Credit Card, you can earn up to a $3,000 cash bonus: $500 once you spend $5,000 in the first three months, and $2,500 once you spend $50,000 in the first six months. If you can achieve the $50,000 spend mark over half a year, the $3,000 bonus is a 6% return on your initial spend. And since you also earn an unlimited 2% cash back on every purchase, you’ll earn an additional $1,000 on a $50,000 spend — making your total cash back $4,000.

That $4,000 bonus can come in handy bolstering your emergency fund, contributing to your Roth IRA or paying down debt. And the best part is that credit card rewards are not taxable as long as you had to spend to earn them, according to the IRS.

Along with the valuable bonus, the card comes with no foreign transaction fees and no preset spending limit.

It’s unclear what the bonus will be after March 14.

Capital One Spark Cash Plus Credit Card

Information about the Capital One Spark Cash Plus Credit Card has been collected independently by Select and has not been reviewed or provided by the issuer of the card prior to publication.

  • Rewards

    Unlimited 2% cash back on every purchase

  • Welcome bonus

    Earn up to a $3,000 cash bonus: $500 once you spend $5,000 in the first 3 months, and $2,500 once you spend $50,000 in the first 6 months

  • Annual fee

  • Promo APR

  • Regular APR

    No APR; pay off your balance in full every month to avoid a 2.99% late fee

  • Balance transfer fee

  • Foreign transaction fee

  • Credit needed

How to choose between a travel rewards or cash back credit card

While both of these Capital One welcome bonuses are attractive, a question that comes up regularly among consumers is: Should I get a credit card with travel rewards or one with cash back?

While one is not automatically better than the other, there are several key questions to ask yourself:

  • What are your financial needs/goals?

If you’re aiming to offset the costs you spend on necessary purchases, a cash back card is an excellent resource, especially during a time of inflation. The cash you get back from the routine spending you have to do anyways can put money back in your pocket.

However, if you’re financially comfortable and want to save money on your upcoming adventures, then a travel credit card would be more appropriate.

  • If you are leaning towards a travel card, do you have a plan to redeem your travel rewards?

If you earn travel rewards, regardless of which card or currency, it’s a smart strategy to ‘earn and burn’ — meaning to not let them sit for too long. This mainly applies to currencies that are directly linked to a brand, such as Delta SkyMiles® or Marriott Bonvoy® points, since brands regularly go through devaluations of their loyalty points. Transferable rewards, however, can be much more durable in their value.

Travel credit cardholders should make it a priority to take advantage of the miles they earn and the benefits that they have access to. So, if you decide the Venture X Card is the best for you, be sure to use its travel credits, enroll in TSA PreCheck or Global Entry and redeem the miles you earn for enjoyable travel experiences.

Bottom line

Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.