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- Capital One Venture Rewards Bonus
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The Capital One® Venture® Rewards credit card has an offer for 40,000 bonus miles when you spend $3,000 on purchases within the first 3 months. When you redeem towards travel, these bonus miles are worth $400.
*Capital One also tends to offer very good banking bonuses as well.
The annual fee isn’t bad at all at $59 (it’s also waived the first year), and the card actually earns an ongoing, unlimited 2% rate when you redeem towards travel. So, unlike a cash back credit card, you won’t get the maximum value for your rewards unless you use them for travel specific redemption.
We’ll review the bonus offer for the Venture card below.
Capital One® Venture® Rewards Bonus
The 40,000 bonus miles are going to be worth $400 if you redeem towards travel. You can redeem for past travel purchases that have been made in the last 90 days, or you can use your miles towards booking new travel. The $3,000 spending requirement is pretty standard for a bonus of this level.
You can use your miles to book your flight, car rental, or hotel. If you use your miles for past travel purchases, these categories of travel are eligible:
|Airlines||Hotels||Rail Lines||Car Rental Agencies||Limousine Services|
|Bus Lines||Cruise Lines||taxi cabs||Travel Agents||Time Shares|
The ongoing rewards rate is 2 miles for every dollar that you spend on all purchases, which equals to 2% as 100 miles is equal to $1 in travel rewards. This is a great earnings rate for a card that isn’t tied to any airline or hotel. The flexibility keeps things simple.
One of the main competitors to this card is the Barclaycard Arrival PlusTM, which also earns 2 miles per dollar on all purchases. However, you’ll also receive 5% in bonus miles at redemption, which makes the rewards rate valued at 2.1% towards travel. While this card earns more than the Venture® card, it also has a higher annual fee of $89 (waived the first year). If you spend more than $30,000 on your credit card over the year, the Barclaycard Arrival PlusTM card will be of more value to you despite the higher annual fee.
For people who like to travel and keep rewards simple and flexible, the Capital One® Venture® card is definitely worth consideration. Rewards are good, the annual fee is low, and there are no foreign transaction fees to worry about.
Earning Your 40,000 Bonus Miles
If you think you’ll have trouble meeting the $3,000 spending requirement within 3 months of approval, below are some ideas that might help out.
- Purchase gift cards to restaurants, grocery stores, and shopping retailers that you’ll end up spending at eventually anyway. These retailer branded cards typically don’t involve Purchase Fees and many restaurants have promotions for added bonus value. American Express and Visa Gift Cards will give you more flexibility in spending, but they will incur roughly $4 to $6 in Purchase Fees. Save with Amex gift card promotions here. *Be sure to call in to set your Cash Advance limit to $0 as card issuers like Citi have a tendency to categorize gift card purchases as Cash Advances.
- You can fund many new Checking and Savings accounts with your credit card and possibly earn bank sign-up bonuses at the same time. For example, you can fund up to $500 using a credit card with Chase Bank and earn one of their Checking or Savings account bonuses. TD Bank also typically has $100 to $300 in Checking promotions to take advantage of, and you can fund up to $300 with a credit card towards the opening deposit. See eligible funding banks and bonuses:
You can see many other ideas on meeting credit card bonus spending requirements at this page here.
What’s The Competition?
Other credit cards offering bonus opportunities worth comparing to the Capital One® Venture® card include the following:
Barclaycard Arrival Plus™ World Elite MasterCard®
Chase Sapphire Preferred®
Capital One® Quicksilver® Cash Rewards
Discover it® Miles
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