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Capital One Venture Rewards
Starting in 2018 Capital One has been growing a progressively better and better reward ecosystem. They have not only made an incredible transition from a mainly a cashback focused program to one that offers incredible transfer partners, but they have created fantastic card products. The focus? Make it straight forward and simple. That’s exactly what the Capital One Venture Rewards card is…simple. Earn 2x on every single purchase you make without a cap and they just upped their welcome offer to 75k Miles after $4k spend.
Many other cards in the marketplace offer a litany of credits, etc that if used properly help to offset the annual fee. This isn’t what Capital One does. They have a simple structure of earning 2x on every purchase, 5x on specific Capital One travel bookings, a juicy Global Entry $100 credit, and a $95 annual fee. The biggest competitor is the Chase Sapphire Preferred, and over the long run, this card may actually be a bigger earner than the CSP.
- 75k welcome bonus after spending $4k in 3 months
- 2x miles on every purchase
- up to a $100 credit for Global Entry and TSA Pre
- Earn 5X miles
- on hotels booked via Capital One Travel
- rental cars booked via Capital One Travel
- on Turo rentals through 5/16/23
- Enjoy two complimentary visits per year to Capital One Lounges or
- to 100+ Plaza Premium Lounges through our Partner Lounge Network
- Transfer miles to 17+ partners
- $95 annual fee
Is this the best offer we’ve ever seen?
Capital One Venture Rewards has offered a 100k offer in the past, BUT, you needed to spend $20k over 12 months to fully get the bonus. That would be 140k miles, give or take, on $20k spend.
Personally, I think this offer is more attractive since you hit the 75k bonus after just $4k spend which would total 83k miles. If you put another $16k on the card over the course of the year, you’d earn another 32k miles. and hit 115k miles on $20k spend. This is clearly fewer than the 140k, but you may opt to put that spend elsewhere to hit another bonus, etc.
2x on everything with no limits
As I just mentioned above, you’ll get 2x on every. single. purchase. No need to worry about category bonuses, etc, you will earn 2 outstanding points on every dollar you spend. Best part…it isn’t capped at any fixed amount. If you spend $1 Billion dollars, you’d earn 2 Billion points. Ok…this is extreme but you get the point.
Comparing to the Chase Sapphire Preferred
|Capital One Venture Rewards||Chase Sapphire Preferred|
$100 Global Entry or TSAPre credit
You can receive up to a $100 credit, every 4 years, to put towards membership in either program. Quick tip, membership in Global Entry gets you TSAPre as a part of the program, so you’re better off going that route since its a 2 for 1.
What can I do with 75k Capital One Miles?
There are 3 main things you can do with your Miles
- $750 within Capital One Travel
- Offset any travel purchase at 1 penny per point
- Use towards Capital One Entertainment and Dining redemptions
- Transfer to partners
At the very least you’ll walk away with 83k Capital One Miles which you could use in Cap1 travel for a minimum of $830. There have been instances where Capital One has really attractive offers for sporting events whereby you can redeem your miles for tickets at advantageous pricing. But…
You know I’m a transfer freak, so the options listed above isn’t where I’d throw them, but that’s the bare minimum value you’d extract. Instead, I would focus on using them to transfer into partners.
Capital One Transfer Partners are really valuable
A couple of years ago, Capital One decided to lace up their gloves and start throwing punches in the transferrable rewards ring. Some punches landed, but the program was too confusing with 4:3 transfer ratios and people just didn’t get it. That all changed this year. Bit by bit, Cap1 made nearly all of their partners 1:1. Meaning, you no longer need a calculator to understand how many Cap1 miles you’ll use for a redemption.
- The following partners are now 1:1
- Aeromexico Club Premier
- Air Canada Aeroplan
- Avianca LifeMiles
- Air France Flying Blue
- British Airways Executive Club
- Cathay Pacific Asia Miles
- Choice Privileges
- Etihad Guest
- Finnair Plus
- Qantas Frequent Flyer
- Singapore Airlines
- TAP Air Portugal Miles&Go
- Turkish Airlines Miles and Smiles
- Virgin Red
- Wyndham Rewards
- Accor transfer 2:1
- EVA transfers 2:1.5
The Accor situation could be quite interesting. Accor’s redemption is such that 2000 Accor points = 40 Euro credit. So 4000 Cap1 points = 40Eur off. Since you’re earning 2x on purchases, you’re earning 0.02Eur on each dollar spent when transferred to Accor. Pretty decent hotel discount actually.
Capital One will only process one credit card per 6 months…so if you’ve already applied for one in that time frame, you’re going to have to wait. This means both business and personal.
Can you combine your miles with other Capital One accounts? This is incredible.
Yes, you can combine your points into one account. This applies to accounts under your name, and also to ANYONE else that has a Venture or Spark account. Pretty awesome.
How quickly do you accrue the bonus and miles?
Anecdotally, people are reporting that Capital One is crediting accounts with points when the purchases hit the account rather than having to wait until the statement processes.
Can you earn referrals?
Yes, up to 50k a year.
I have the Capital One Venture X which I absolutely love and use for personal expenses whenever I don’t have a category bonus to take advantage of, so I’m not 100% sure I’ll pick this card up. But, I’m quite tempted since its offering a really attractive welcome offer.
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A Monkey Miles favorite for beginners and point pros alike – a staple of our wallet that earns Premium transferrable Ultimate Rewards. $95 annual fee
♥ Earn 60k Bonus Points after $4k Spend in 3 months
♥Points are transferrable to over dozen partners, or redeemable for 1.25c in Chase travel
♥5x on travel purchased via Chase Travel and 2x everywhere else
♥3x on dining, including eligible delivery services, takeout and dining out
♥3x on select streaming
♥ 3x points on online grocery purchases (excluding Target, Walmart and wholesale clubs
♥ $50 Annual Credit on hotel stays purchased via Ultimate Rewards. *New cardmembers can get this credit immediately – existing cardmembers get it after anniversary
♥ 10% Anniversary Point Bonus. Spend $10k in a year, get 1k bonus points.