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The Capital One® Venture® Rewards Credit Card has launched a new, limited-time offer of up to 100,000 bonus miles after meeting minimum spending requirements. This card is a great fit for anyone who likes having a super-easy option to redeem rewards at a fair value.
With most rewards, the easier it is to redeem, the less money you save. But Capital One offers the best of both worlds; use points to pay yourself back for any travel purchase or transfer Capital One rewards to airline and hotel partners for even more value.
100,000 miles is worth $1,000 if you redeem the easy way, so check out the Capital One Venture to decide if this card deserves a place in your wallet.
- Earn 100,000 Miles when you spend $20,000 on purchases in the first 12 months from account opening, or still earn 50,000 miles if you spend $3000 on purchases in the first 3 months; worth $1000 in travel if redeemed for a fixed-value, or potentially much more when transferred to airline partners
- 2 Miles on every purchase, plus earn 5 Miles on hotel bookings and car rentals through Capital One Travel
- Fee credit for Global Entry or TSA Pre✔® (up to $100)
- No foreign transaction fees
- $95 annual fee
- 2 Miles per dollar on every purchase, every day.
- 5 Miles on hotels and car rentals through Capital One Travel
Capital One Venture Welcome Offer
To earn the full welcome bonus, you'll need to commit to spending $20,000 on your card over the first 12 months. When you spread that out over the first year, you're looking at a managable average of $1,667 per month.
For comparison, the previous offer for this card maxed out at 50,000 miles after spending $3,000 in the first three months. This limited-time offer includes the same 50,000-mile bonus after $3000 spent. But it also offers a chance to earn an extra 50,000 miles by spending $17,000 more (a total of $20,000) in your first year.
This two-part bonus doesn't include the 2X miles you'll earn from everyday purchases. After 12 months, you should have at least 140,000 miles which is worth $1,400 towards travel.
Here's a breakdown:
- Earn 50,000 miles after spending $3,000 in the first three months.
- Earn 50,000 miles after spending $20,000 (total) in the first year.
- Earn 40,000 miles with 2X earning on everyday purchases.
If you're not sure if you can earn the full bonus (or you aren't willing to commit to $1,667 in monthly spending for a year), the Chase Sapphire Preferred® Card is a great alternative with an 80,000-point bonus earned in a shorter period of time.
- Earn 80,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $1,000 toward travel when you redeem through Chase Ultimate Rewards®.
- 2X points on travel and dining at restaurants worldwide, eligible delivery services, takeout and dining out & 1 point per dollar spent on all other purchases.
- Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards. For example, 80,000 points are worth $1,000 toward travel.
- Get unlimited deliveries with a $0 delivery fee and reduced service fees on orders over $12 for a minimum of one year on qualifying food purchases with DashPass, DoorDash's subscription service. Activate by 12/31/21.
- Earn 5X points on Lyft rides through March 2022. That's 3X points in addition to the 2X points you already earn on travel.
- 2X points on travel and dining at restaurants worldwide
- 1X point per dollar spent on all other purchases
Earning Potential and Bonus Spending Categories
The Capital One Venture card offers 2x miles for every dollar spent, on all purchases, in all categories. There is no limit to the miles you can earn, and they never expire. For every $1,000 you spend on the card, you'll earn 2,000 Venture Miles.
In addition to every day 2x earning, the Capital One Venture also earns 5X miles on hotel and car rental purchases made through Capital One Travel.
If you truly want to maximize the points you earn, there are other cards that earn more than 2X points on select categories. But it can take some organization to come out ahead with a portfolio of cards. If you like the simplicity of earning 2X miles on everything—without having to think about which card to use—the Capital One Venture is the perfect choice.
Ultimate Flexibility Redeeming Capital One Venture Miles
Capital One miles are perhaps the most flexible rewards out there. You get to choose between exchanging miles for a fixed cash value or transferring them to partners where the potential savings is even greater.
Redeem Miles for Any Travel Purchase
Capital One's “Purchase Eraser” feature is a simple way to use rewards for any travel purchase. Just pay with your Capital One Venture card (the same way you would make any other purchase) and redeem your rewards up to 90 days afterwards to “erase” the charge from your monthly bill.
The Purchase Eraser works for flights, hotels, car rentals, and more. You can redeem as many miles as you want, from $1 all the way up to the full amount of miles you have in your account.
In addition to being easy, the purchase eraser feature gives you maximum flexibility. Most fixed-value points must be redeemed through a particular website or travel portal. Capital One lets you buy travel from whichever website or vendor you like. That means you can take advantage of flash-sales, error fares, and discounts that aren't available in other places. It also means you can book directly with a hotel so you can earn and enjoy elite benefits.
Transfer Miles to Airlines and Hotels
While it's great to have an easy option, sometimes, you can save far more with each mile redeemed by transferring points to a hotel or airline loyalty program. Capital One gives you the best of both worlds with 13 airline and 2 hotel transfer partners.
For more tips on making the most of your Capital One miles, check out the post below.
Related: Redeem for Maximum Value with the Capital One Venture Card
More Travel Perks
In addition to great rewards, the Capital One Venture card offers solid travel perks including no foreign transaction fees, travel insurance, roadside assistance, reimbursement for lost luggage, and a 24/7 concierge service that provides you with great support.
The Capital One Venture is also one of the many cards that features a statement credit towards the TSA Pre✓ or Global Entry application fee. The value of the credit depends on which program you choose:
- $100 rebate on Global Entry enrollment fee
- $85 rebate on TSA Pre✓ enrollment fee
Since Global Entry includes TSA Pre✓, you're better off applying for Global Entry if you might take an international trip in the next few years. In either case, the Capital One Venture credit will cover the full value of the application fee once every four years if you pay with your card.
Related: Cards that Offer a Credit for TSA Pre✓ and Global Entry
Final Thoughts
The Capital One Venture has been on our list of favorite cards for a long time. If you like simple, this card gets top marks for easy redemptions and its straightforward 2X earning structure.
Until now, the only drawback was that the new cardmember offer wasn't especially generous. With the new limited-time offer, this is the perfect time to add the Capital One Venture to your wallet.
- Earn 100,000 Miles when you spend $20,000 on purchases in the first 12 months from account opening, or still earn 50,000 miles if you spend $3000 on purchases in the first 3 months; worth $1000 in travel if redeemed for a fixed-value, or potentially much more when transferred to airline partners
- 2 Miles on every purchase, plus earn 5 Miles on hotel bookings and car rentals through Capital One Travel
- Fee credit for Global Entry or TSA Pre✔® (up to $100)
- No foreign transaction fees
- $95 annual fee
- 2 Miles per dollar on every purchase, every day.
- 5 Miles on hotels and car rentals through Capital One Travel
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Es una recompensa muy interesante pero el consumo por año es muy alto! A que aerolíneas se le pueden atribuir el bono de millas?
Does anyone know whether this is a Visa or Mastercard? I have a large monthly charge but they only take Visa so if this is a Mastercard it won’t work for me. Thanks!
The Venture Card is issued as a Visa card.
Good news! The Capital One Venture card is a Visa product.
Is there a way to pay the annual fee with points on this card? (I do this with my Arrival Plus; that way I know the card truly doesn’t cost me anything to keep.) Regardless, I probably will apply for this card because of the excellent bonus and the fact that I am about to move to another state — plenty of ways to spend a big chunk of that 20k when you are setting up a new household. Thanks for the info.
I applied and was turned down! I have been turned down by Capital One before despite having excellent credit. I never bothered to look into it because the rewards were not worth the effort. This time, I called to ask why but the applications person could not tell me. She said that I would have to wait until the letter arrived in the mail (Which apparently will provide an explanation) then make the request again for them to re-consider. Oh Well, I guess this means that I will be getting the new Freedom Flex instead. Or maybe the Hyatt card (if I am still under 5/24)
That’s one very high spending requirement!
This is certainly a big reward but with a big time spending of $20,000 a year. This is not a card for everyone.
What are the airlines to which you could transfer those 100,000 miles?
We have a complete guide to Capital One transfer partners here: https://awardwallet.com/blog/complete-guide-to-capital-one-transfer-partners/
pending 20K a year seems difficult in the current situation.
Any word on how long this will be available?
Hi Pam, no information has been shared with us. Most LTOs average around 50-70 days, but there are plenty of exceptions. We’ll share as soon as we know.