The Offer
No direct link, targeted email offer
Capital One is sending out an offer to some of their business cardholders:
- Refer a business to signup for a new Capital One business card and the referrer gets $1,500 once they are approved. Max $7,500 bonus can be earned (5 referrals) per calendar year.
The Fine Print
Image of terms is below, most notable to me:
- The business signing up has to be entirely new and have no Capital One Business credit or charge cards. (If the new signup has personal Capital One cards that’s okay.)
- Capital One might send you a tax form 1099-MISC for these earnings. (Since it’s more than $600, I’d assume they will send out these tax forms. The form will likely be sent to your business EIN that you used when you originally signed up for your Capital One business card.)
Our Verdict
We’ve seen $300 bonuses before, but this $1,500 bonus is absolutely wild. A lot of people might consider signing up just to get their friend the referral bonus, e.g. if you have a business and your spouse has a business, your spouse can refer you and they’ll get the $1,500 if you’re approved.
The new business signing up can also get the regular signup bonus on the card. There are two cards available via the signup link: 1) the Capital One Spark Cash Plus with a $1,200 bonus after $30,000 spend within 3 months, 2) The Capital One Spark 2x Miles with a 50,000 miles bonus after $4,500 spend within 3 months.
There’s no need for the new business to meet the spend requirement for their bonus; the $1,500 bonus for the referring business is earned as soon as the new business is approved.
No referrals in the comments below.
Hat tip to reader Mary
Chuck
Source link
