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- The Capital One® Venture® Rewards Credit Card is currently offering its highest-ever sign-up bonus.
- You can earn up to 100,000 miles — 50,000 after spending $3,000 in the first three months after getting the card, and another 50,000 after spending $20,000 in the first 12 months.
- The Capital One® Venture® Rewards Credit Card is a travel rewards card worth considering, even beyond the sign-up bonus.
- Cardholders can use their Venture miles in a variety of ways, including for travel, takeout, delivery, and streaming services.
- See Business Insider's list of the best travel rewards credit cards »
Due to COVID-19, now might seem like an odd time to consider applying for a travel rewards credit card. But this is actually the ideal moment to do so thanks to some unprecedented sign-up offers as well as the fact that many issuers are enhancing their cards' perks to keep up with consumers' changing spending habits.
Among the credit cards you might want to consider right now is the popular Capital One® Venture® Rewards Credit Card. Not only is it offering the highest sign-up bonus it's ever posted, but Capital One has expanded the Venture card's potential benefits to help cardholders reap as much value from it as possible — whether travel plans in are in your near future, or not.
Here are seven reasons you should consider signing up for the Venture card now.
Capital One® Venture® Rewards Credit Card
What makes this such a good value is that, unlike redeeming airline frequent-flyer miles for flights or hotel points for free nights, which are dependent upon award availability in their specific programs, you can just book travel normally then cash in your miles as you would for any other reservation. That opens up a lot of options, not just with a particular airline or hotel, for instance, but also for travel dates that might not have open awards to book but still show paid fares or room rates.
Now through December 31, 2020, Capital One is also allowing Venture cardholders to redeem their miles for 1 cent apiece toward takeout, delivery, and streaming services, which makes Venture miles even more useful.
There's no telling if Capital One will maintain this redemption rate after the end of the year, but considering it already extended the end date from September 30 all the way through 2020, there's a good chance it might do so again.
4. Capital One has good transfer partners, too
Apart from fixed-value redemptions toward travel and other expenses, Capital One® Venture® Rewards Credit Card miles are very versatile because they can be transferred to the loyalty programs of 13 airlines and two hotel companies.
One caveat: They transfer at ratios of two Capital One miles to 1-1.5 points or miles with partners, so you're not getting the same bang for your buck as you might with other similar points currencies like Chase Ultimate Rewards and Amex Membership Rewards.
Here are Capital One's current airline and hotel partners, and the transfer ratios for each:
· Aeromexico Club Premier (2:1.5)
· Air Canada Aeroplan (2:1.5)
· Air France/KLM Flying Blue (2:1.5)
· Alitalia MilleMiglia (2:1.5)
· Avianca LifeMiles (2:1.5)
· Cathay Pacific Asia Miles (2:1.5)
· Emirates Skywards (2:1)
· Etihad Airways Guest Program (2:1.5)
· EVA Air Infinity MileageLands (2:1.5)
· Finnair Plus (2:1.5)
· JetBlue TrueBlue (2:1.5)
· Qantas Frequent Flyer (2:1.5)
· Singapore Airlines KrisFlyer (2:1)
· ALL Accor Live Limitless (2:1)
· Wyndham Rewards (2:1.5)
5. The annual fee is modest
The Capital One Venture offers a lot of points possibilities and other perks, but still only charges a $95 annual fee. That's in line with competitors like the Chase Sapphire Preferred® Card and the Citi Premier℠ Card. But also consider that you only have to spend $4,750 on everyday purchases each year to rack up $95 worth of miles toward travel. That's not a high bar to hit.
6. Get an application fee credit for Global Entry or TSA PreCheck
Among the most outstanding benefits included with the Capital One Venture, and one that can easily offset its annual fee in the first year, is the fact that it offers a statement credit of up to $100 to cover the application fee for Global Entry or TSA PreCheck once every four years.
While this might not be top of mind for many travelers right now, US Customs and Border Patrol has started processing Global Entry applications again. You might want to apply and get approved before any travel plans come down the runway so you can take advantage of expedited customs, immigration, and security lines.
7. Enjoy money-saving benefits
If you plan to travel internationally, it's imperative to carry a card that waives foreign transaction fees. While these seem small at only 2-3% of most purchases, they can really add up over the course of a trip. Aside from that, the Venture offers some moderate protections including travel accident insurance and secondary rental car coverage.
Capital One® Venture® Rewards Credit Card
17.24% to 24.49% variable
Good to Excellent
50,000 miles once you spend $3,000 on purchases within 3 months from account opening
- Annual Fee: $95
- Regular APR: 17.24% – 24.49% (Variable)
- Sign-Up Bonus: Earn 50,000 Bonus Miles once you spend $3,000 on purchases within the first 3 months from account opening
- Annual fee waived the first year
- No bonus categories to keep track of
- Includes up to a $100 statement credit for Global Entry or TSA PreCheck
- Other credit cards offer higher rewards in certain categories of spending
The Capital One® Venture® Rewards Credit Card is one of the most popular and dynamic travel rewards cards available thanks to the versatility of the miles it earns and the ease of redeeming them.
Right now, the card is offering an almost unbelievably high sign-up bonus of up to 100,000 miles (worth $1,000 toward travel) that might not be around for long. So if you've been thinking about applying but have been holding off until the right moment, this might just be it.
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Please note: While the offers mentioned above are accurate at the time of publication, they’re subject to change at any time and may have changed, or may no longer be available.
Disclosure: This post is brought to you by the Personal Finance Insider team. We occasionally highlight financial products and services that can help you make smarter decisions with your money. We do not give investment advice or encourage you to adopt a certain investment strategy. What you decide to do with your money is up to you. If you take action based on one of our recommendations, we get a small share of the revenue from our commerce partners. This does not influence whether we feature a financial product or service. We operate independently from our advertising sales team.
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