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Is 50K Capital One Venture Miles Worth $3,000 in Spending?

by on Thu October 19, 2017 • No Comment
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capial-one-ventureIf you are not a fan of traditional airline miles or hotel points, the Capital One Venture® Rewards credit card may be best for you. This card now features an increased sign-up bonus of 50,000 miles after spending $3,000 in the first 3 months from account opening. The annual fee is $95, but is waived in the first year.

As we found in our review, the Venture Rewards card is great if you want flexible travel rewards without blackout dates. The “miles” earned translates to cash back for travel bought using your Venture Miles card, or trips booked in the Capital One Rewards Center.

Is this a good deal?

The 50,000 Venture Miles bonus is just 10,000 more than the original bonus for the same amount of spending in the first three months, but gives you one-third more value. Our calculator estimates if you spend $1,200 every month on the card (enough to satisfy the reward spend), you could earn over 60,000 miles in the first year, for a grand total of $718 towards travel expenses when you include the bonus.

While the bonus is bigger than The Barclaycard Arrival Plus® World Elite Mastercard®, the Capital One Venture Rewards card only offers limited benefits for international travelers. The Arrival Plus offers Chip-and-PIN capability for international transactions, as well as 5% points returned when using points.

If you are always looking for a straightforward, easy to understand loyalty program with the flexibility to credit any qualifying travel expense, $560 in credit for $3,000 in spending ($60 from spending $3,000 earning 2 miles per dollar, and $500 from the 50,000-mile promotion, with all miles valued at one cent each) is a good value. But if you like using your miles for premium rewards, like first class flights and five-star hotel rooms, or spend more in one category (like gas stations), this card may not be right for you.

If you’re sensitive to credit inquiries, be aware: some users on FlyerTalk report Capital One may pull a report from all three credit bureaus.

How much are Venture Miles worth?

Venture Miles are not “miles” in the traditional sense. Instead, points can be used towards credits on qualified travel expenses charged to your Capital One Venture Rewards card.

When using your Capital One Venture Rewards card, you will earn an unlimited 2 miles per dollar spent everywhere.  Miles hold a fixed value of one cent each when you use them towards travel, no matter where you spend.

How can I use Venture Miles?

Venture Miles can be used in one of two ways. Miles can be used to credit qualifying travel charges made to your Capital One Venture Rewards card, including airlines, hotels, rail lines, car rental agencies, limousine services, bus lines, cruise lines, taxi cabs, travel agents and time shares – no matter where you made your purchase. Because there are no blackout dates, you have complete control over your miles when you pay with your Venture Miles card.

You can also book trips through the Capital One Rewards Center by logging into your account. Flights, hotels and rental cars are all available through their booking portal. If you do not have enough miles to cover your trip, you can book awards with miles and cash through the rewards center at the same value of one cent per mile.

capital-one-venture-rewards-screenshot

While you can’t transfer Venture Miles to other rewards programs, one of their advantages is that awards count as cash bookings. When using Venture Miles for airfare, you can earn credit towards loyalty status and keep your frequent flyer award miles. For hotels, you will have to pay for your stay on your card and use miles for statement credit to earn hotel loyalty points and get loyalty benefits.

Another bonus of the Capital One Rewards Center are their exclusive deals on hotel rooms and rental cars. These deals span the entire world, including Italy, Mexico and the United Arab Emirates, which could save you even more money.

Capital One Booking Engine Deals Screenshot - Taken 10-18-17

Questions and Answers

How is the Venture Rewards® card different from the VentureOne® Rewards card?

The VentureOne® Rewards Card comes with no annual fee, but only earns 1.25 miles per dollar spent on the card. New cardholders will only earn a 20,000-mile bonus after spending $1,000 in the first 3 months from account opening.

In our review of the VentureOne Rewards Card, we found the card doesn’t have good earning power, but has no international transaction fees. While the VentureOne Rewards Card is good if you don’t travel often or to use for international spending, our calculator shows you may get more long-term value out of the Venture Rewards card.

What are the other card benefits?

Venture Rewards is a Visa Signature card, giving you access to all the benefits from the card program. Through Visa Signature, you may access discounts at select online retailers, get travel upgrades or savings at hotels and resorts, and secondary auto rental collision damage insurance.

Are there any bonus categories to earn more Venture Miles?

Venture Miles does not offer any bonus categories. All purchases earn 2 miles per dollar, regardless of the category.

Can I transfer my Venture Miles to other programs?

No: Venture Miles can only be used through Capital One, and can’t be transferred to other loyalty programs.

Can I use Venture Miles for anything else but travel?

Yes: you can also use miles for cash back rewards or gift cards. Miles for gift cards redeem at one cent per mile – the same rate as travel rewards. Miles for cash back redeem at half that rate, meaning you would have to spend 5,000 miles for $25 cash back, which is a poor value.

Can you get this offer if you had the card before?

Not necessarily: according to the terms and conditions: “existing or previous account holders may not be eligible for this one-time bonus.” If you currently hold this card, you cannot get a second card to receive the bonus.

If you also applied for more than 2 Capital One cards in the last 30 days, have 5 or more Capital One cards open, are past due on a Capital One account, or are over your credit line on a Capital One card, you may not be eligible for this offer.

Can a couple get two cards?

Yes, but it is only worthwhile if both of you can get the 50,000-mile bonus. Like other rewards programs, you can transfer Venture Miles between cardholders, allowing you to combine points for even bigger rewards.

Should you get the deal?

If you don’t have a preferred airline or hotel chain and don’t mind sitting in economy for flights, the Capital One Venture Rewards card can offer good returns over time. Getting 2% cash back is good value, and the ability to book any flight or hotel at any time without blackout dates makes this card worth holding – even when points redeem at one cent each.

Are there better deals out there?

Compared against the Capital One Venture, The Chase Sapphire Preferred® Card offers a similar sign-up bonus (50,000 Ultimate Rewards points after spending $4,000 on purchases in the first 3 months from account opening), but with additional upside. The card offers double points on travel and dining spending, and Ultimate Rewards points transfer to 7 airline programs and 3 hotel programs, potentially giving you even more value towards first class travel. The Chase Sapphire Preferred comes with a $95 annual fee, but is waived in the first year.

If you just want cash back rewards and plan on traveling internationally, the Barclaycard Arrival Plus may be a better bet. In comparison, advantages of the Barclaycard Arrival Plus® World Elite Mastercard® include a 5% rebate on miles when using them towards trips, and full Chip-and-PIN compatibility for international transactions. The Arrival Plus also offers a lower annual fee of $89, which is also waived in the first year.

Chase Sapphire Preferred® Card

Miles dont expireas long as card is open
Learn more

Partner Offer

50,000 bonus points

Intro Offer

$0 introductory annual fee the first year, then $95

Annual Fee

Yes

Foreign Transaction Fee Waived

Yes - transfer to United MileagePlus, Southwest Rapid Rewards, Marriott Rewards, and more

Points Can Transfer to Airline Miles ?

Still confused? Have a question?

Leave a comment below -- we'll reply shortly -- no need to use your real name. Or, use the email form at the top of the page for private advice.

"These responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered."

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