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Capital One Venture Rewards Card Bonus Now 40,000 Miles

by on June 18, 2014 · 38 comments

in Capital One, Credit Cards

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The Capital One Venture Rewards Card has doubled its sign up bonus from 20,000 miles to 40,000 after $3,000 in spend within the first 3 months and the $59 annual fee is waived the first year.

While 20,000 miles was equal to $200 you can now get $400 in travel when redeeming those miles to cover expenses like airfare, hotel stays, car rentals and more. However, these miles cannot be transferred to any frequent flyer or hotel programs, but you can use them towards buying any flight/hotel you want.

Solid Earning
This card earns 2X miles per $1 on every purchase, so you don’t have to strategically use it on special bonus categories. If you’re redeeming your points for travel, this card gets you 2% back on everything you spend because every mile is worth 1 cent and you earn 2 per dollar spent on all purchases. Plus, when you redeem Venture Miles to cover your travel expenses, you also earn airline miles on your redemptions, which you normally do not get when you use normal airline miles, so using these miles to buy tickets can help you attain and retain valuable elite status.

Venture 40k Offer

Here are the full details on this offer:

  • Enjoy a one-time bonus of 40,000 miles once you spend $3,000 on purchases within the first 3 months, equal to $400 in travel
  • Earn unlimited 2X miles on every purchase, every day
  • Fly any airline, stay at any hotel, anytime
  • Travel when you want—no blackout dates
  • Miles don’t expire
  • No limit to the miles you can earn
  • No foreign transaction fees
  • No annual fee for the first year; $59 after that
Capital One Venture Card

Capital One Venture Card

Best Offer?
Capital One has had sign-up bonuses of 50,000 back in January and even up to 100,000 points with this card, but it’s been nearly two years since we’ve seen an offer like that. This is the highest it’s been for a while, so if you’ve been waiting to get this card, I don’t foresee it going much higher anytime soon. Note: When you apply for a Capital One card, they will generally pull your credit from all three agencies, so the hard inquiry on your credit may be greater than with most other credit card companies that do one pull.

If you’re interested in fixed value cards, another great option with a similar sign up bonus is the Barclaycard Arrival Plus World MasterCard which offers 40,000 Arrival miles after $3,000 spent within the first 3 month, equivalent to $440 in travel redemptions. The Arrival Plus card also earns 2 miles per dollar spent but one of the main benefits is that you will receive 10% of your miles back when redeemed for qualifying travel statement credits, thus getting you 2.2% back on all of your spend, which is slightly better than the Venture. The Arrival Plus card is also now available with Chip + Pin capability which strengthens security and improves the likelihood of acceptance when traveling abroad.

Fixed Value Vs. Transferrable?
Whichever card you decide is best for you, the fundamental strength of fixed value cards is that they allow you greater flexibility when using miles on any airline or hotel and you generally earn miles and elite miles on those redemptions. That being said, Capital One and Arrival Plus Miles cannot be transferred to frequent flyer and guest programs and their redemptions are tied to the value of the redemption, so they are generally not the best for super expensive flights and hotel stays. They’re great though for covering costs not typically covered by traditional miles, like award ticket fuel surcharges, bed and breakfast stays, trains and taxis. The best strategy is to diversify your miles and points and with all of the frequent flyer program devaluations lately, I’m putting more and more of my spend on fixed value cards.

For more information, check out these posts:

Maximizing Fixed Value Travel Credit Cards
Barclaycard Arrival Bonus Hits 40,000 Miles
Details on the Barclaycard Arrival Travel Redemptions
Capital One Venture and VentureOne Bonuses Up To 20,000 Miles

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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  • Matt Karolian

    Do you have a guide to using these points?

  • Douglas Levin

    Keep in mind that it hits all 3 bureaus for a credit check.

  • thepointsguy

    Great point- added that to the post

  • thepointsguy

    There is no guide- you simply buy travel with your card and then use the Venture Miles to wipe that charge off of your statement

  • Kioly

    Will they go forward with only 1 if you freeze the other two?

  • LAKnight

    I applied and got approval for this card last January (50,000). Do I need to churn this card and apply again? Or, can I just apply another one?

  • Carissa

    Are there any restrictions on what counts as travel? Websites like Expedia, Orbitz, rental cars, etc?

  • Glinton

    My wife just visited England and it covered Trains, Metro (tube – Oyster Card), Buses, Small BnBs that we used on Booking.com, as well as the London Pass (which got access to most every castle/museum/site in London along with some perks like free boat ride, etc). And YES, it covers rental car companies and should cover travel sites (as it did with Booking.com).

  • Glinton

    Okay – she actually used the Barclay Arrival card, on the trip above, but we also have the CapOne Venture which we have used for most of the same things, such as the Big Bus Tour previously, as well as rental car bookings, etc.

  • http://www.pausethemoment.com/ Ryan Gargiulo

    Not as good as the Sapphire Preferred but a good all around travel rewards card for sure. Definitely worth picking one of these up if you don’t already have one.

  • Matt Karolian

    How many points to dollars?

    I book a flight for $500, how many points do I use to wipe the charge off?

  • Jason

    “Enjoy a one-time bonus of 40,000 miles once you spend $3,000 on purchases within the first 3 months, equal to $400 in travel”

  • thepointsguy

    50,000. 1 point = 1 cent towards travel expenses

  • jmecherul

    got this card more than three years ago when they had the bonus of doubling the miles you have in your airlines account if you get the card. I had more than 100000 in my AA account, so they gave me 200000 miles which was worth like $2000, so what I had in AA and these miles paid for most of our honeymoon. i like the card and it was my daily driver for more than 3 years (switched to Amex Everyday), but I have had great luck with CapitalOne. My wife used her card (my account) in Switzerland, and I told them she was traveling overseas but they closed the card by mistake after she used it. Called them up and they offered 5000 miles for the inconvenience. They have no foreign transaction fees, and the exchange rate is very very good, much better than exchanging money at the airport or foreign bank. Over 3 years, I must have accumulated more than 100000 excluding what I paid in annual fees, so in three years they gave me more than $3000 worth of travel, gift cards, car rentals and hotels and did not pay one cent in interest. Also you can pay for hotels and car rentals (maybe flights) using miles through their portal powered by Expedia I think. I found great rates on car rentals, much better than paying cash or going through the Amex portal. Hotels were also values are a little more than one cent per mile. You get 2 miles for every dollar you spend and you can get one cent per mile in giftcards. Cash is 0.5cents just like everywhere else (other than chase where they give you 1 cent per mile in cash).

    If Amex did not come out with their no annul fee everyday cards, I would have continued to use this Venture card as my daily driver. I find it better than the Barclay’s card.

  • jmecherul

    as I mentioned in my above post, try to see how many points you would need to hotels and car rentals by paying straight with miles in their portal (powered by Expedia I think) instead of going the cash route and then getting reimbursed. I always found car rentals cheaper than cash and think even hotels.

  • Steve

    Is it possible to get this bonus (another card) if i already got the regular 20,000 point bonus about 5 months ago? Thanks.

  • Vea

    Unfortunatley, no. At least, I haven’t had success with it.

  • Alan

    Downside is that unlike the Arrival Plus you cannot just wipe off part. Cannot apply the 40,000 points

    to the $500 flight and be done if you so want.

  • Cheapblackdad

    Wait. What? You can’t just do part if a charge? You have to have enough to cover the whole purchase?

  • iamright

    Bigtime hassle as you can only redeem on travel. Chase allows you to use points as cash credits against the accounts if you don’t want to transfer to airline or hotel accounts.

  • Will

    Am I the only one who’s too vain to pay with a Capital One card?

  • Alan

    From Capital One Venture Disclosures

    Purchase Eraser redemptions – must be made within 90 days from the date
    your travel purchase posts to your account. (120 days now at Arrival plus)

    You must have the total amount of miles required in order to
    redeem for your selected travel purchase—partial redemptions will not
    be processed.

  • Guestola

    You can also purchase giftcards and merchandise, not just travel.

  • Cheapblackdad

    Thanks. Had not had the chance to do much reading yesterday so playing catch up.

  • Tyler Millard

    Any idea how long the bonus will last? I need to space out spend bonuses

  • Avery

    Well yes and no, a lot count towards travel, like your public transit and everything you spent within the hotel is travel. And you can redeem the same thing over and over again. For me it’s not too hard to find one within 3 months.

  • Ben

    Good question; same here. I got mine probably 4+ years ago and I think that I downgraded to the fee free version last year…isn’t it 24 month after app you are considered a new customer?

  • http://remixinglife.blogspot.fi/ lr52185

    Points Guy,

    I currently have this card. After contacting Capital One it seems I could get this bonus even though I already have the card if I apply for a new one. Given it pulls my score from three bureaus, would you recommend doing this? My score is 760+.

  • Jake

    Do airline gift cards count as travel purchases towards the Purchase Eraser feature? For example, if I am buying a $400 flight but only have 22,000 Capital One points, can I purchase a United gift card for $220 on my CapOne card and use the 22,000 points to credit this charge?

  • mo h

    where can u transfer capital1 miles 2 ?

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  • MK18042

    I hear the APR’s on the Venture Cards are outrageous even for those with excellent credit, is this true? I am thinking of applying but if I can’t carry a reasonable balance and not avoid insane interest rates is it even worth it. I feel like the only way you can make it worth it is to pay it all off immediately

  • Jason

    No reward program is worth it if you can’t pay off the billable balance every month. Paying interest kills the whole point of getting bonus points. The idea to take advantage of free points, not to pay the companies more money in interest. Ever.

  • Travis

    Does anyone know if I can get the 20,000 point offer (for the gold colored venture card with no annual fee) if I already have the other blue colored Venture card? I want the 0% apr and the 20,000 points.

  • Nick

    I signed up for the old 20,000 bonus three months ago, called customer service to request they change the bonus to the new 40,000, and they changed it that same day. Friend of mine did as well.

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