Why you should take advantage of the Capital One Venture 100k bonus - Business Insider - Business Insider

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Why you should take advantage of the Capital One Venture 100k bonus - Business Insider - Business Insider


Why you should take advantage of the Capital One Venture 100k bonus - Business Insider - Business Insider

Posted: 06 Oct 2020 07:10 AM PDT

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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.

Annual Fee

$95

Regular APR

17.24% to 24.49% variable

Credit Score

Good to Excellent

Editor's Rating

Featured Reward

50,000 miles once you spend $3,000 on purchases within 3 months from account opening

Intro APR

N/A
Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.
  • Details
  • Pros & Cons
  • 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
Pros
  • 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
Cons
  • Other credit cards offer higher rewards in certain categories of spending
Read Our Review Read Our ReviewA looong arrow, pointing right

We're focused here on the rewards and perks that come with each card. These cards won't be worth it if you're paying interest or late fees. When using a credit card, it's important to pay your balance in full each month, make payments on time, and only spend what you can afford to pay.

1. You can earn 100,000 miles

One of the most compelling reasons to get the Capital One® Venture® Rewards Credit Card right now is that it is currently offering more miles as part of its sign-up bonus than ever before.

New applicants are eligible to earn up to 100,000 miles – 50,000 after spending $3,000 in the first three months, and to earn the full 100,000 miles, they must spend $20,000 on the card in the first 12 months from account opening.

While that might seem like a lot of money, it breaks down to about $1,667 per month — well within a lot of folks' spending range. This 100,000- mile offer is also twice the amount of miles this card normally offers.

2. The card offers excellent everyday earning

One of the things that makes the Capital One® Venture® Rewards Credit Card such a crowd favorite is the fact that it has a simple yet lucrative earning formula. For every dollar cardholders spend, they earn 2 miles. It's as easy as that.

Now through January 31, 2021, the card also earns five miles per dollar on Uber Eats orders, so that should come in handy while restaurant dine-in service remains spotty.

3. The bonus is worth at least $1,400 toward travel 

Capital One miles can be redeemed in a number of ways, but one of the most advantageous is simply to use them to book travel through the Capital One travel portal, including for flights, hotels, vacation packages, and more.

Folks can redeem miles for travel reservations made through other channels, too – such as directly with an airline or car rental agency – within 90 days of purchase. Cashed in this way, miles are worth 1 cent apiece. 

You might be asking yourself, "If the sign-up bonus is 100,000 miles, why is the value $1,400?" It's because in order to earn those 100,000 miles, you need to spend $20,000 on the card, and since you earn at least 2 miles per dollar on most purchases, you'll end up with 140,000 miles or more after hitting that spend. So the sign-up bonus plus miles you earn through spending round up to a cool $1,400.

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.

Annual Fee

$95

Regular APR

17.24% to 24.49% variable

Credit Score

Good to Excellent

Editor's Rating

Featured Reward

50,000 miles once you spend $3,000 on purchases within 3 months from account opening

Intro APR

N/A
Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.
  • Details
  • Pros & Cons
  • 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
Pros
  • 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
Cons
  • Other credit cards offer higher rewards in certain categories of spending
Read Our Review Read Our ReviewA looong arrow, pointing right

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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