Capital One has launched a limited time 100K offer for the Venture Rewards card. Upon approval, earn 50K “miles” after $3,000 spend in 3 months. Plus, earn an additional 50,000 miles after a combined $20,000 spend in 12 months. That’s a lot of spend, but it comes to only $1,667 per month if divided across all 12 months. Note too that this card earns 2 “miles” per dollar for all spend, so you would earn an additional 40,000 miles with that $20K spend. In the end, you would end up with 140,000 “miles” worth $1,400.
Capital One “Miles” can be used for full value in two ways:
- Erase travel purchases: In normal times, you would use the Venture Rewards card to purchase travel and then “erase” those charges with “miles”. Each “mile” is worth 1 cent. So, you could erase $1,000 in travel purchases with the 100,000 miles earned from this offer. During the pandemic (through end of year), Capital One is also allowing customers to erase some non-travel purchases at full value: restaurant delivery and take-out, and streaming services.
- Convert Venture miles to airline miles: Capital One “miles” really ought to be called points in my opinion. They are not airline miles. However, Capital One does allow converting “miles” to airline miles usually at a rate of 2 “miles” to 1.5 airline miles. This means that the 100K bonus miles from this welcome offer are worth 75,000 airline miles.
You can find a link to sign up, as well as much more information about the Capital One Venture Rewards card here: Capital One Venture Rewards. Here are topics covered on that page: