If you’re looking to stockpile travel rewards for a vacation, now’s a good time to consider the Capital One Venture Rewards Credit Card. It’s offering a bonus with a total potential value of $1,400.
The big 100K bonus
Starting March 31, 2021, the $95-annual-fee card is hiking its potential sign-up bonus — although the spending requirement to earn it is also rocketing.
New cardholders can earn up to 100,000 bonus miles after spending $20,000 in purchases within the first 12 months of opening their account. (Or cardholders can spend far less and still earn miles. The offer: Earn 50,000 miles if you spend $3,000 on purchases within the first three months of account opening.)
This new sign-up bonus offer is available only to new cardholders who have never had a Capital One Venture Rewards Credit Card.
Previously, the card offered 60,000 miles once you spend $3,000 on purchases within three months from account opening. The new bonus offer is a huge spike — 66% more miles.
The Capital One Venture Rewards Credit Card offered a similar 100,000-mile bonus in September 2020. The limited-time bonus ended three months later.
How it adds up to $1,400 toward travel
The bigger bonus is potentially worth $1,400 in travel.
Here’s how: The bonus accounts for 100,000 miles. And because the Capital One Venture Rewards Credit Card earns an unlimited 2 miles per dollar spent on all purchases, spending $20,000 on the card to earn that bonus earns an additional 40,000 miles.
Capital One miles are worth a penny each when you use them to book travel via Capital One or redeem them for statement credit against travel purchases using the Purchase Eraser feature. So, 140,000 in miles is worth $1,400 in travel. That’s one of the best bonuses among travel credit cards.
You can also transfer miles to partner travel programs, and while you can sometimes get outsized value for your miles this way, the value differs depending on the partner. Cash back is also a redemption option, but miles are worth only half a cent each that way.
Through June 30, 2021, Venture cardholders can also redeem their miles for recent, eligible restaurant delivery, takeout and streaming-service purchases from thousands of merchants for one cent each.