Courtesy of Capital One
You don’t have much longer to sign-up for the Capital One Venture’s 100,000-Mile Bonus.
One of the best travel credit card sign-up bonuses we’ve ever seen is coming to an end, so now’s the time to apply.
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The past few months have been an incredible time for travel credit card promotions, with some of the highest sign-up bonuses in history. Among them, the Capital One® Venture® Rewards Credit Card has been offering new applicants up to 100,000 miles—50,000 after spending $3,000 within the first three months of account opening, and an additional 50,000 after spending a total of $20,000 within 12 months.
If those numbers have you thinking about applying, you only have a few more days to do so: Capital One announced this offer will end December 14, 2020. If you decided against this particular card, or were ineligible for it (for instance, if you already have it in your wallet), then there are still a lot of other great offers available. Here are some of the reasons why you might want to apply for the Capital One Venture right now, and some alternatives in case it’s not in the cards for you.
The Capital One Venture is a great all-round choice for travelers, but let’s start with the introductory bonus. You have to spend $20,000 within a year of opening the card to earn all those miles, which might be daunting. Think of it like this, though: all that spending breaks down to putting less than $1,700 a month on your card, which seems more manageable.
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Then, in terms of what those bonus miles can get you, Capital One Venture cardholders can redeem their rewards in a few different ways. First, you can cash them in as you make bookings through the Capital One Travel portal. Second, you can also use your card to make travel purchases—airfare, hotel reservations, cruises, and even things like taxis and time-shares—and then redeem miles for statement credits against them within 90 days. With either of these avenues, the per-mile value is one cent, so 100,000 miles is worth $1,000 toward travel.
There are a few drawbacks: 1) The only U.S. airline partner is JetBlue. 2) Unlike other transferable points like Chase Ultimate Rewards and American Express Membership Rewards, Capital One miles don’t transfer directly at a ratio of 1:1 to these partners. That said, if you’re willing to do a little legwork, you can certainly book some tremendous rewards with partners.
One way to maximize your points: Flying Blue advertises “Promo Rewards” that rotate monthly with mileage discounts of 20–50 percent between certain cities in North America, and all of Europe, on both Air France and KLM. Some economy tickets price out as low as 11,000 miles each way, while business-class seats come down as far as 28,750. With conversion rates in mind, you’d only need to transfer about 14,700 or 38,400 Capital One miles for economy or business, respectively, meaning you’d have enough miles for a few tickets in either cabin just from the card’s current sign-up bonus.
One of the reasons why the Capital One Venture is so popular is that it has an easy-to-understand earning formula. It simply accrues two miles per dollar on every purchase (and five miles per dollar on UberEats, car rentals, and hotel bookings made with Capital One Travel through January 31, 2021). So you can rest easy knowing you’re getting double miles on everything.
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As noted above, miles cashed in for travel are worth one cent each, meaning your rate of return for miles redeemed in this manner is 2 percent. Miles redeemed for statement credits toward other purchases, such as groceries or gas, only snag half-a-cent in value, so it’s best to avoid those. However, now through April 30, 2021, Venture cardholders get the full cent per mile when redeeming for purchases from select streaming services, including Netflix and Hulu, as well as eligible food delivery bills from services such as DoorDash and Postmates (plus orders placed directly with restaurants).
Given the Venture’s fixed earning rate and the variety of ways these miles are usable, the card offers a very solid rate of return that’s easy to take advantage of. Its $95 annual fee isn’t too onerous either, and you can easily get that much value or more from your card each year with some strategic spending and redemptions.
When that time comes to travel internationally again, note that the Capital One Venture offers a statement credit worth up to $100 every four years toward either a Global Entry or TSA PreCheck application, which can help speed you through security, customs, and immigration on your next trip. The card also waives foreign transaction fees and comes with a variety of travel and purchase protections, so it’s a good one to use if you’re traveling abroad.
The Capital One Venture is one of the most dynamic travel rewards credit cards available. That said, if the minimum spending requirement for this particular offer is too high, or you don’t think you’ll use Capital One’s transfer partners, consider several other current credit card offers.
This long-standing premium card is offering one of its best introductory bonuses ever.
If you’re looking for something lower key, the Platinum Card’s more moderate counterpart is offering an impressive bonus of its own.
If it’s hotel points you’re after, this Hilton card’s current bonus can’t be beat.
All three personal credit cards from this airline—the Southwest Rapid Rewards® Plus Credit Card, the Southwest Rapid Rewards® Premier Credit Card, and the Southwest Rapid Rewards® Priority Credit Card—are fielding identical limited-time bonuses unlike anything we have seen before.
While the offers mentioned above are accurate at the time of publication, they are subject to change at any time, and may have changed or may no longer be available.
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