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- Capital One Venture Rewards Bonus
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The Capital One® Venture® credit card has an offer for 50,000 bonus miles when you spend $3,000 on purchases within the first 3 months. When you redeem towards travel, these bonus miles are worth $500.
*Capital One also tends to offer very good banking bonuses as well.
The big selling point of this card is that it 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.
As of the 4th quarter of 2017 the annual fee has risen to $95 (it’s waived the first year), which is quite a jump up from the previous $59 annual fee. Without a doubt, this makes the decision process a tad more difficult. It would appear as though Capital One wants to showcase this card as a worthy competitor to the Chase Sapphire Preferred® credit card. And similar to the Sapphire Preferred® card, the Venture® card is now even available in metal. With this updated higher annual fee, it’s now even more difficult to pick the Capital One® Venture® card over its competitors.
We’ll review the bonus offer for the Venture card below.
Capital One® Venture® Bonus
The 50,000 bonus miles are going to be worth $500 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 Barclays Arrival® card, which also earns 2 miles per dollar on all purchases. However, you’ll also be able to earn up to $250 worth of bonus miles every year with this choice.
For people who like to travel and keep rewards simple and flexible, the Capital One® Venture® card is worth taking a look over. Rewards are good and there are no foreign transaction fees to worry about, but the higher updated annual fee will make this card less competitive.
Earning Your 50,000 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:
Barclays Arrival® Premier World Elite Mastercard®
|The Barclays Arrival® Premier World Elite Mastercard® doesn't have an initial sign-up bonus offer. This card is targeted to high spenders that plan on carrying a good travel card for the long term. Instead of a bonus available upon account opening, cardholders are able to earn 25,000 loyalty bonus miles each and every year that they spend at least $25,000 in purchases. These 25,000 bonus miles are worth $250 in travel credits. The card also earns unlimited miles at the rate of 2 miles per $1 spent on all purchases regardless of category. With the miles earning rate taken into account, spending $25,000 a year will net you 75,000 miles worth $750 in travel credits, and you'll be able to earn that amount yearly.As expected with any good travel card, there are no foreign transaction fees to be concerned with and you'll get the higher worldwide acceptance of a Mastercard, which is nearly equivalent to that of Visa and much better than Discover or American Express. If you're not a high spender who travels often, this likely will not be a suitable card option for your needs. Full Review|
Chase Sapphire Preferred®
|The Chase Sapphire Preferred® credit card currently has an offer for 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. Redeeming these bonus points through the Chase Ultimate Rewards® program, which is praised by users, will get you $625 in value towards travel. |
The 50K bonus points are worth $625 because you get 25% more value whenever you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards. Ongoing rewards with this card include earning 2 points per $1 on Travel and Dining at restaurants. The annual fee is $95, but it is waived for the first year. Full Review
Citi® Double Cash
|The Citi Double Cash Card now has a $100 sign-up bonus offer and also earns up to 2% cash back on all purchases. You'll earn 1% cash back for all purchases charged to the card. You'll then earn an additional 1% cash back when you pay off those purchases, as long as you pay at least the minimum due. There are no spending categories to keep up with.|
There is no longer a 0% introductory APR on Balance Transfers offer for this card, but the sign-up bonus is a great substitute. There's no annual fee with this card. Full Review
Capital One® Quicksilver® Cash Rewards
|The Capital One® Quicksilver® Cash Rewards card will earn a $150 bonus when you spend $500 on purchases within the first 3 months.The bonus offer is comparable to its top competitors, but this card earns a respectable 1.5% cash back on every purchase with no limit on how much you can earn. There are no spending categories to keep up with.|
There's a 0% introductory APR on both Purchases and Balance Transfers for the first 9 months with this card. After the introductory period, the rate will be a variable 13.99%-23.99% APR. The Balance Transfer fee is 3% on the amounts transferred within the first 9 months. People like this card because of the cash back rate, the flexibility to redeem your cash back for any amount, and there's no annual fee. Full Review
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