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Capital One Venture Card 100,000 Point Sign-up Bonus is Back With Double Miles Challenge

by on March 7, 2012 · 77 comments

in Capital One, Credit Cards

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Update: The offer mentioned below for the Capital One Venture Rewards Card has expired. View the current offer here

This offer is no longer available.

Capital One® VentureSM Rewards Credit Card

  • 10,000 bonus miles when you spend $1,000 in the first 3 months.
  • Earn double miles on every purchase, every day.
  • $59 annual fee waived for the first year.
  • No foreign transaction fees.

Former offer details (again, it was limited time and is now over): Capital One just launched another 100,000 point sign-up bonus for the Venture Card. However, your sign-up bonus varies and is double the amount you spent on a competitor’s (Amex, Visa, Mastercard, Discover) travel credit card in 2011. So if you spent $50,000 on a single card last year – say the Amex Platinum card, they’ll give you 100,000 Venture miles after you sign-up and spend $1,000 within 3 months on your new Venture card. If you spent $20,000 on a card, you’d be eligible for 40,000 Venture miles ($400 in value). Per the T&C, spend on small business cards, debit cards, fleet cards, private label credit cards, corporate cards, prepaid cards and Capital One credit cards is not eligible.

Do you get a bonus for playing Words With Friends as well?

This isn’t as lucrative as their offer last year where you just had to show that you had 100,000 miles/points in your accounts, but it could be good for people who hit that amount of spend on a single card last year. Venture miles can’t be transferred into any airline program, but they can be redeemed for any flight and you earn miles (inducing elite miles) on flights booked with Venture miles. Plus the $59 annual fee is waived the first year.

Capital One does pull credit reports from all 3 bureaus, but if you can gain the whole $1,000 in value from the sign-up bonus, it might be worth it. I like this deal because almost all of my past credit card offers have been with Chase, American Express and Citi so it’s nice to diversify a little bit. I don’t think I spent $50,000 on any single credit card last year, but I’m going to check and then debate whether I should apply. I try to get at least $600 in value from each credit card application, so I will likely pull the trigger on this one.

T&C

  • Promotional miles available only to new Venture card customers that meet the eligibility criteria and whose applications are received before the promotion ends. Only one entry per person and per account. Customers who participated in the 2011 “Match My Miles Challenge” may be approved for a Venture card, but are not eligible for the Double Miles Challenge program.
  • Minimum purchase required. Customer must make at least $1,000 in total net purchases using the new Venture card within 90 days of account opening.
  • Limited time offer. Supplies are limited. A maximum of one billion total Venture miles will be issued as part of the Double Miles Challenge program. The promotion will end when one billion miles have been given away or May 1, 2012, whichever comes first. The end of the promotion will be announced on www.capitalone.com.
  • Miles limits apply – maximum of 100,000 miles per account. Capital One will award 2 miles per dollar for up to $50,000 spent on purchases in 2011 on a single major US consumer travel credit card (Visa®, MasterCard®, American Express®, Discover® ). Spend on small business cards, debit cards, fleet cards, private label credit cards, corporate cards, prepaid cards and Capital One credit cards is not eligible.
  • Registration and documentation required. Customers must obtain from the issuer of the eligible account and provide to Capital One a 2011 year-end summary as proof of yearly spend on the eligible account. A year-end summary is a summary of your annual transactions provided by your credit card issuer. Individual monthly statements are not acceptable.
  • Customers must have a valid email address and access to a year-end summary for the eligible account to participate. Approximately 7-14 days after approval, new Venture customers will receive registration instructions at the email address provided on the credit application. Once the email is sent, customers must register within 7 days and submit their documentation within 30 days. Registration and/or documentation submitted after these timeframes will not be accepted. Documentation must indicate that the eligible account was held in the name of the new Venture card customer, and must be submitted at one time.
  • Miles are reserved for customers once registration is complete, and are earned once documentation is provided and upon reaching the minimum purchase requirement. Miles are awarded within two (2) billing periods of when they are earned.
  • All trademarks mentioned are the property of their respective owners. The listed payment card networks are not affiliated with Capital One, nor are they considered sponsors or cosponsors of this program.

For more information, visit the Capital One website.

Disclaimer: The responses below 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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  • John3

    Nope.

  • Henrik

    You didn’t get this card last year?

  • ASen

    Any idea if Amex PR GOld Card will be eligible?

  • thepointsguy

    Yes it would be

  • thepointsguy

    Nope.. I kicked myself for not (would have LOVED that Hyatt certs).

  • Dan Maize

    Biggest spend LY was Schwab Visa, about 30K. Since FIA has disco’d that card, how do I get a year-end summary from them?

  • Bexho2000

    passing this one….churning cards doesn’t give you the opportunity to rack up that kind of spending in a single card…I loved it last year as I got 3 cards (myself, wife, + business) and really enjoyed the free cruise and disney vacation with the 300k miles. good luck to whoever is going for this one…

  • Daniel

    Would US Bank Flex Perks Travel Rewards Visa qualify? I spent $56,000 on it last year, so I would qualify for the max bonus, if the card is eligible. Thanks!

  • thepointsguy

    I don’t see why it wouldn’t!

  • thepointsguy

    I’m sure they can still send you an overview of your total spending if you call

  • AirplanePeanuts

    I spent around 250K on Amex platinum last year. Including a single 23k cruise expense.

  • atalerico

    I’ve got a few questions here. I spent enough on my Delta Amex card last year to get the 100,000 Venture bonus miles. I’m a PM on Delta so does that mean if I book Delta flights with Venture miles that not only will I receive MQMs but also I’ll be eligible for Medallion upgrades? Do you know how long you need to keep the card to get the 100k mile bonus (i.e. could I cancel before it renews so I don’t have to pay the annual fee)? This sounds like a great deal. Thanks for your help.

  • thepointsguy

    The flights you book with Cap One points book into revenue fare classes- so you are treated the same as if you bought the ticket with cash. So yes, you will accrue mqms and upgrades as you normally would. You get the 100k as soon as they verify your documents and you can use them and cancel the card before the annual fee kicks in the next year

  • atalerico

    That sounds great
    Thanks for the prompt reply!

  • Gary P

    Okay so I have about 35K spend on my British Airways card from last year… Would it just be a 2x bonus of 70K points or do I get the 10K first time points on top of that? Do you think 70K Venture points is worth it?

  • John12

    Spent $43k on an amex blue cash. Do you think that it would qualify? And if it does, would you go for it considering that it’s less than the full 100k? (never had a Capital One card btw)

  • Cory

    This is too bad. I’ll be sitting out on this one.

  • JB

    I dr

  • Dan

    Glad I got on last year…

    I wonder how successful this promotion is going to be for them. Last year, they had to penetrate the market pretty deeply. Of those who are left, I’m curious who has significant spend.

  • JB

    I dropped the Venture card fall 2011. Would I be considered a new venture card?

  • Csubomb05

    I’m hoping the Chase Freedom card qualifies as a “travel card”…any idea if it would?

  • Kathy

    I spend $51K on my American Express Delta Platinum Business Card. It is listed with my name as the “owner”. Business cards are ineligible for the match. That stinks! I think I would have jumped on this.

  • David Z

    I have an Amex Platinum that I spent over 50k on for business expenses. Its a personal card the only issue is that my card is an additional card under my parents main account. I can pull up the transactions for my card that shows over 50k but do you think they would accept that since the main account is my parents? My card is registered to me with my address and SS# so I would think it should work.

  • thepointsguy

    Does it say that it is your parents account on your summar? If not, I don’t know how they would know. In general I don’t think they are going to be huge sticklers on this- I think they just want customers who put a lot of money on credit cards, which is understandable

  • thepointsguy

    Don’t see why it wouldnt

  • thepointsguy

    It says you can be., but if you took advantage of this promo last year you can’t get it again

  • thepointsguy

    I think they got a lot of people who just wanted the sign up bonus last year. I bet theyll get less, but more high spend cardholders this time around. Sucks for us but you can’t really blame them

  • David Z

    On the official year end summary it shows their name for the main account but it also shows my card and the total spend for my individual card. I can pull up a summary for just my card but its not the exact same year end summary. Seems like its a roll of the dice for me.

    Thanks for the tips

  • Filter808

    Does the American Express Starwood card qualify?

  • thepointsguy

    Sure does

  • thepointsguy

    I’ll ask my cap one contacts

  • John12

    I believe you can also just ‘ask for a statement credit’ with these points. This has a strong advantage over 1) just using points and obviously 2) using miles to book a flight. By asking for a statement credit, not only do you get MQMs but you can also earn regular CC points. Hence triple dipping opportunities are preserved, for example by using Chase Sapphire Preferred, and the UR mall to book a flight on Priceline (2x).

    You’d get 2x the UR points + 2x bonus via UR mall, on top of being able to redeem points and earn MQM. For 100k points that’s significant, since that’d mean 4k UR points ($50) on top of the $1k. I like that, but please correct me if I am wrong I have never used Capital One (just read the application T&C).

  • Afagagaga

    Rats I cancelled my venture card earlier hoping to get in on the miles again.

    I don’t think it’s worth burning 3 inquiry to find out if I will get the miles, but I wonder if I would…..

  • David Z

    That would be amazing. Don’t want to waste a credit pull if I have no chance. Thanks again for the help.

  • Jim Jaxl

    Same boat, albeit on a different card (Chase United). I would qualify with about $47k (paid for my wedding and honeymoon on credit card – haha), so that is a nice chunk of money towards travel – so not just trying to figure out if its worth it. How big a deal is 3 credit checks (relative newbie when it comes to cc churning!!)

  • thepointsguy

    Did you get the 100k miles last year? If so, you wouldn’t get it again most likely. If not, it looks like they are leaving it open that past cardholders can apply and get approved again

  • thepointsguy

    Its just the 2x bonus or the 10k to my knowledge. Could you use $700? If so, it could definitely be worth it.

  • thepointsguy

    I think you more than qualify! :-)

  • Dilemma

    I have more than $50K in spend on old FIA Card that was converted to Bank of America Cash Rewards card. Any insight whether this card qualifies?

  • Afgagaggahd

    Yep got them last yr.

  • Dilemma

    But does this card qualify?

  • EW

    is says on capital one website that you have to have excellent credit to qualify for this card. what do they consider as excellent credit? my oldest CC is now 2.5 years old and i’m wondering if that will be a problem. i do have spent 47K on my amex gold last year for 94k miles on this offer. however, i don’t want to waste a hard pull if i can’t get it.

  • Dan

    Honestly, I think something along these lines is the wave of the future. I mean, I’ve hit Chase *hard* over the last year (175,000 points from UA/CO branded cards alone), in addition to Sapphire Preferred/Ink Bold/Ink Classic/British Airways/Marriott.

    At some point, Chase has got to figure that they’ve acquired me as a customer, and that I have the capacity to spend $X annually. Exactly how is it in their best interests to draw me in just because of the sign-up bonus?

    These things ultimately have to end up one of two ways (or both): Bonuses tied to some reasonable amount of ongoing spend, or some particularly high initial spend.

    When AA was running their 100k promos with Citi, that required $10k spend in a year. That was actually quite reasonable, IMHO, and wouldn’t be surprised to see other promos like that.

  • http://drcreditcard.net/ Sean

    It took me a while to find the PDF version of Year End Summary for my Amex cards. For people who is struggling as I did, once you pull up details of a specific account, there is a link on the top right corner “Year-End Summary”. Also another interesting observation is that my Sapphire Preferred Year End Summary does not even give me the total of my spending. It has nice charts and only gives numbers for each category – i had to add them up myself.

  • http://twitter.com/jamucsb Jamison

    i’m going to have to pass on this card….. 3 credit pulls, ouch!

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  • Adithi

    I already have a capital one credit card – not venture and have not applied for it earlier either. I have 50K in on BA Chase card for last year. Can i still apply?
    Also does opening and closing credit cards create a problem when you try to refinance, etc?? I have excellent credit history and BA Chase was the first credit card i opened for miles..

  • CW

    CreditKarma reports my score as 772 and I received instant approval. I have sen posts from others that had higher scores, so it is more than just your credit score.

  • englishbreakfast

    2 questions:

    1. I am an authorized user on my partner’s Cap One Venture card, but don’t have a Cap One where I’m the primary cardholder. Would I still qualify as a “new Venture cards customer” for this deal?

    2. Would a Bank of America Visa Worldpoints card count? I can’t figure out the definition of a “travel credit card,” and the T&C don’t define the term.

    Thanks!

  • Asdfasdfsd

    My experience was this:

    -you can book travel at 1 cpm
    -you can ask for a statement credit for previously purchased travel (purchased with the venture card) at 1 cpm
    -you can ask for cash at 0.5 cpm

    Obviously choice #2 was my pick.

    And you can request the credit on their rewards site super easily. “travel” was defined quite broadly, and if it didn’t show up on the site as “travel” you could ask a rep to allow you to consider it travel and get reimbursement.

    So 100k venture miles are basically a rebate of $1000 unless you ask for cash.

  • Daniel

    So I got denied, which surprised me as I met all of their qualifications for excellent credit. It said I will get an email or notice within 10-14 days detailing why. Is this the point where I would call their reconsideration line? Is that what it is called? Any advice is welcomed. Thanks!

  • thepointsguy

    Yes to both would be my thoughts but I’d call to be safe

  • fss

    Would the Chase AARP Visa Credit Card (www.aarpcreditcard.com) work? It gives 3% back on travel, but not sure if it is a “travel” rewards credit card..

  • BothofUs2

    @David Z – T+C states bonus offer only valid for account holder, not authorized user. That being said, I’m in a similar situation here as yours, but trying to get this Venture card for my wife since I have one already; I have over 50k spend on my Citi AA Mastercard with my wife as authorized user. I’m not eligible since I have this card already, she did most of the Citi AA MC spend but on my account. Citi Year end report has my name, however I am trying to pull the Year End report under my wife’s ID to see if possibly charges show up with her name on the report. Still curious though what TPG’s contacts at Cap1 say about this regarding authorized user leniency.

  • FredMertz

    I have a 771 Credit Karma score, a relatively high annual salary, a decent amount of money in the bank, yet for the second year in a row, Capital One will not give me a credit card. I never have any issues with any other issuer. It’s really mind-boggling to me.

  • BobChi

    But it seems to me that with this they draw in people who are already very loyal to a particular card, who will want the signup bonus, but will probably often just make the minimum spend and then keep using their favorite card. Last year’s promotion at least could go after people with no strong existing credit card loyalty who might be more likely persuaded to try something new. I don’t know, just a reaction I had.

  • Supon

    link for Apply seems not to be working

  • StevenTravel

    Is there a number we can call to get a 2nd glance? I am in the same boat.

  • Steventravel

    Is their a reconsideration number to call? I have excellent credit and high income but was not approved. Anyone had luck with this?

  • http://www.facebook.com/profile.php?id=781690250 Jason Maehl

    Ya, I have a credit score of 786 and a good salary. I too got rejected and am puzzled.

  • Mawe stone

    The 3 hard pulls are not worth it. The Chase sapphire deal is much better at 50k points per pull, this is just 33k points per pull, not bad but not great.

  • Asdfasdfsd

    thinly veiled brag?

  • FredMertz

    It’s a brag, but not even remotely veiled!

  • http://profile.yahoo.com/MVC7NPVOIRJU33XJHT5Q3VKHDU pazz0

    With over $50K of spend on an eligible card, I decided to proceed with applying for this promotion with Capital One. As I started completing the online application, I discovered that the application asked for much more extensive personal financial information compared to Chase Sapphire. In addition to the usual items, it asks for combined value of checking and savings accounts, value of money market accounts, value of all investments including 401K. No other card application that I can remember asked for so much info. Ultimately, I decided that I did not want to key all of that info in online, nor provide all of it to Capital One in order to get their card. An additional factor was reading posts of others with excellent Credit Karma scores who were declined.

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  • Steve

    same for me, 798 score, and declined. i’m sure i’ll get a letter in the mail offering me a different card without the 100k matching miles. but i won’t accept from them.

  • Jody Nichols

    What, too cheap for a Centurion?

  • AirplanePeanuts

    Lol it came out completely wrong. What I meant is the company that I work for… Spent that.

  • CW

    Card received, and they accepted my 2011 statement…good to go…just need the 1K spend by June. Thanks TPG!

  • Jlhoelzel

    Chase (Freedom Card) tells me that they dont track total spend for the year or the reward points earned. Capital requires one statement with the yearly total and will not accept individual statements.
    Am I out of luck for this promoation?

  • jschaff

    Got it. And they credited the 100000 miles after spending $500. Didn’t wait for the $1000.

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  • Rebelenglish

    this looks like a good deal! i was surprised you and some of the commenters said that the 3 pulls might be enough to make this a bad deal…recently read your post on credit scores which seemed to imply that a few inquiries in a small time span is not that horible given this is only a relatively small portion of your score…does anyone have thoughts on how to think about exactly how bad 3 pulls is vs the benefit (assume you’re getting the full 100k here)? thanks for any help!

  • Jody Nichols

    Got denied based on “too many inquires in the last 12 months.” Sucks seeing as I see myself as their perfect customer.

  • Kris10m

    We spent 51K on our Costco Amex last year – needed to get a Visa for upcoming international travel. Applied, approved instantly & got 100k points no problem after sending the year-end summary (pending spending $1000 by the end of June – no problem there). Since we get 3% back for gas on the AMEX & 2% cash back for travel & restaurants, we’ll still use the AMEX on those and at Costco, but the Venture give 2pts. for every dollar – so everything else will go on that for a while. Planning a trip to Europe next summer – hoping this will cover at least 1 plane ticket, if not 2. $1000 incentive for something we needed anyway. Not bad, IMHO.

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  • abhi

    Any chance a similar offer may come in coming months? I am planning on applying for this card. Thanks!

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