Capital One Venture Rewards Credit Card. 2X Miles plus 100'000 Miles Limited-Time Offer

Limited-time 100k offer is back. The Capital One Venture Rewards credit card is their premium travel rewards card with unlimited 2x miles per dollars on all purchases. 60,000 miles can be redeemed as a $600 credit towards any travel purchase made with the card (any airline, any hotel, AirBNB stays, Uber rides, no blackout dates). Here are the highlights:

  • 100,000 bonus miles (equal to $1,000 in travel including vacation rentals) once you spend $20,000 on purchases in the first 12 months after account opening. (OR still earn 50,000 miles if you spend $3,000 on purchases in the first 3 months.)
  • Flat 2X miles on ALL purchases.
  • Up to $100 application fee credit for Global Entry or TSA PreCheck.
  • Redeem on travel-from vacation rentals to car rentals and more. Plus transfer your miles to over 10+ travel loyalty programs.
  • Miles won’t expire for the life of the account and there’s no limit to how many you can earn.
  • No foreign transaction fees.
  • $95 annual fee.

This means that if you average $1,700 in purchases per month on this card over a year, you’ll end up with 40,800 miles from purchases, plus another 100,000 miles, for a total of 140,800 Capital One miles, which can offset $1,408 worth of travel purchases charged onto the card (AirBnB, car rentals, hotels flights, etc).

Redemption details. Capital One “miles” can be redeemed directly for a cash statement credit on a 1 mile = $0.01 basis when offsetting any travel purchase made on the card within the past 90 days. In other words, 50,000 miles = $500 toward travel. That means you can fly on any airline or stay at any hotel, pay with this card, and then “erase” that purchase using your miles balance later. This even includes AirBNB vacation rentals, car rentals, and Uber rides.

This means that earning 2 miles on on every $1 in purchases essentially makes this a 2% back card when applied towards travel. You can also book travel through their travel portal (powered by Orbtiz), similar to Chase Ultimate Rewards, but you are not required to do so. You just charge travel directly on your card, which is more flexible.

New: Miles transfer options. Capital One now allows you to transfer your “miles” into select airline miles programs as well, on a 2:1.5 ratio (ex. 20,000 Capital One miles = 15,000 Air Canada Aeroplan miles) except where indicated. Here are the transfer partners:

  • Aeromexico
  • Air Canada Aeroplan
  • Air France/KLM
  • Alitalia
  • ALL Accor Live Limitless
  • Avianca
  • Cathay Pacific
  • Emirates (2:1)
  • Etihad
  • EVA
  • Finnair
  • JetBlue TrueBlue (2:1)
  • Qantas
  • Singapore Airlines Krisflyer (2:1)
  • Wyndham Rewards

The bolded ones are my favorite. I would use these to top off an account to reach a specific award level. If you know how to leverage one of these international airline miles programs, this can be a good option, but it’s still nice to have the worst-case scenario of effectively earning 2% back towards travel.

Bottom line. The Capital One Venture Rewards credit card earns 2x miles on all purchases, which you can either redeem against any travel purchase or transfer to one of their airline/hotel partners. Right now, there is an offer of up to 100,000 bonus miles, worth $1,000 towards travel.


Posted in Finance on April 02 at 08:22 AM

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