The Capital One Venture Rewards Credit Card launched a new, limited-time promotion on March 31, offering new cardholders up to 100,000 bonus miles. The minimum spending requirement is high but spread out over 12 months, making it obtainable even for midsize budgets.
- Starting March 31, new Capital One Venture Rewards cardholders can earn 50,000 bonus miles after they spend $3,000 in the first three months from account opening, plus an additional 50,000 bonus miles after they spend $20,000 in total over the first 12 months.
- The limited-time offer currently has no end date.
- The Venture card has some of the most flexible travel rewards available, making it easy to redeem your miles for travel expenses.
- However, it's important to compare offers from other cards to make sure you find the right fit.
How the Capital One Venture Rewards Offer Works
From time to time, Capital One offers limited-time bonuses on its Venture Rewards card. The new 100,000-mile offer matches the last one the card issuer provided in the final quarter of 2020.
While you have 12 months to meet the spending requirement, the incentive is tailored in a way that you can earn half the miles within the first three months, as long as you spend at least $3,000 during that time. This structure provides some upfront motivation as well as encouragement to continue spending on the card after you earn the initial bonus miles.
If you're not sure about dedicating all of your spending to one card for so long, the good news is that the Venture's ongoing rewards are also top-tier.
The card offers 5 miles per dollar on hotel and car rental purchases made through Capital One Travel and 2 miles per dollar on every other purchase.
Cardholders will also get an application-fee credit, worth up to $100, for Global Entry or TSA PreCheck, which makes up for their $95 annual fee every four years.
Should You Apply?
The Capital One Venture Rewards Credit Card doesn't offer a lot of the premium travel perks you get from high-annual-fee cards like the Chase Sapphire Reserve or Platinum Card from American Express. But its high flat rewards rate and flexible redemption options make it a solid choice for most casual travelers.
In order to earn the full bonus, though, you'd need to spend roughly $1,667 per month for a year. If you can meet that based on your current spending, it may be worth it. If not, check to see if you can at least earn the first 50,000 bonus miles, which requires just $1,000 in monthly spending over the first three months.
As with any credit card offer, it's worth shopping around to compare options from several card issuers. For example, the Chase Sapphire Preferred currently has a limited-time offer of 80,000 bonus points after you spend $4,000 in the first three months. That's worth $1,000 in travel when you book through Chase, which matches the value of the Venture's 100,000-mile offer without the higher spending requirement.
However, the Sapphire Preferred's rewards program isn't as generous otherwise, giving you 2 points per dollar only on travel and dining and 1 point per dollar on everything else.