Capital One announced last week that new Spark Cash Plus cardholders can earn up to $3,000 from the card's welcome bonus until March 14. Earn $500 for spending $5,000 in the first three months, and $2,500 for spending $50,000 within six months.
The welcome bonus is in addition to the $200 annual cash bonus cardholders can earn every year they spend $200,000 or more with the card. The Spark Cash Plus has a $150 annual fee and earns an unlimited 2% cash back for every purchase.
If cardholders spend $50,000 in the first six months, that would equate to $1,000 in rewards from the card's 2% cash back rate. Combined with the welcome bonus, the total cash rewards earned would be $4,000.
"It's a privilege to build products that celebrate the success and tenacity of business owners," said Aparna Sarin, managing vice president for small business cards at Capital One, in the press release.
Capital One is targeting small business owners who might have a lot of expenses and are in need of new equipment or extra savings. The bonus would also help cover the card's annual fee. Capital One did not indicate how long the welcome bonus would be obtainable for.