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You can now earn 50,000 Capital One Venture miles (worth $500 in travel) after completing the minimum spending requirements on Capital One Venture card. That’s 10,000 MORE Venture miles than the most recent offer!
This is great news for folks who’ve been considering adding this card to their wallet. But I’ll explain why it is NOT the best card if you’re new to miles & points.
Capital One Venture Review
Link: Capital One Venture Card
The Capital One Venture card now comes with 50,000 Venture miles (worth $500 in travel) after spending $3,000 on purchases within the first 3 months.
In addition to the valuable sign-up bonus, you’ll get:
- 2 Venture miles per $1 you spend on all purchases
- 10 Venture miles per $1 you spend on hotel stays booked and paid for with your card through this Hotels.com link (through January 31, 2020)
- Statement credit for Global Entry or TSA PreCheck
- NO foreign transaction fees
In the past, the annual fee was only $59, but now it’s increased to $95. It’s still waived the first year.
I love that the card reimburses you for Global Entry or TSA PreCheck. Global Entry is fantastic because it can save you lots of time by getting you quickly through US Customs and Immigration when you return to the US from abroad.
And once you’re approved for Global Entry, you’ll usually get access to the TSA PreCheck security line when traveling domestically. So you won’t have to take off your shoes or dump out your computer bag when you go through the security checkpoint!
The card also comes with Visa Signature Benefits, which include:
- Rental car insurance – Secondary protection against collision or theft
- Travel accident insurance – Up to $250,000 insurance for accidental loss of life, limb, sight, speech or hearing
- Lost luggage insurance – Up to $3,000 per trip, provided the luggage was lost from theft or misdirection by the airline, cruise, etc.
What Are Venture Miles Worth?
Capital One Venture miles are worth 1 cent each. You can use your miles for nearly any travel purchase, like taxi rides, hotels, room service, and free flights. Without having to worry about searching for available award seats or hotel nights!
To redeem your miles for travel, just buy travel like you normally would with your card. Then, you have 90 days to sign-in to your online account, find the travel purchase, and “erase” it with your miles!
There’s NO minimum redemption increment when redeeming miles, unless you’re using miles to partially pay for a travel purchase. In that case, the minimum is 2,500 miles ($25).
Capital One also has a site similar to the Chase Ultimate Rewards Travel Portal called No Hassle Rewards portal. Through this site, you can book travel with your miles instead of purchasing your travel and erasing it later. If you use the portal, there is no minimum miles requirement to book.
Whether you choose to redeem your points through the No Hassle Rewards portal or by erasing your purchase later, you’ll still get a value of 1 cent per point.
Is the Capital One Venture Card Right for You?
I’ve written about smart ways to use Capital One Venture miles for Big Travel. And you can read about how Million Mile Secrets team members would use the Venture card sign-up bonus.
But if you’re new to miles & points, and plan to apply for lots of cards later, I would NOT recommend starting with the Capital One Venture card. Because there are other credit cards with better sign-up bonuses that earn more valuable points and have better travel benefits.
And when you apply for a Capital One card, they request your credit from ALL 3 credit bureaus (Experian, Equifax, and TransUnion) in the US.
Plus, because of Chase’s stricter approval rules, where if you’ve opened 5+ cards in the past 24 months (with the exception of Chase business cards or other small business cards), Chase will NOT approve you for many of their cards (though there are some exceptions). So opening the Capital One Venture card could decrease your chances of being approved for great Chase cards later on!
However, if you already have all the Chase cards you want, and you’re looking for a card with a valuable sign-up bonus and a straightforward, flexible rewards structure, the Capital One Venture card is definitely worth considering.
It’s especially nice that there’s NO minimum redemption increment when redeeming miles (unless you’re using miles to partially pay for a travel purchase). That’s much better than the similar Barclaycard Arrival Plus World Elite Mastercard (which has a smaller sign-up bonus!), where you can only redeem your miles for travel purchases of $100+.
The Capital One Venture card now offers 50,000 Venture miles (worth $500 in travel) after spending $3,000 on purchases within the first 3 months of account opening.
The $95 annual fee (increased from $59) is waived the first year and it has NO foreign transaction fees, so it’s a good card to use internationally. But it’s NOT the best choice if you’re just beginning your miles & points career. Because there are other better travel rewards cards you consider first.