Earn 60k bonus miles: Capital One Venture Rewards credit card review

5d ago

This post contains references to products from one or more of our advertisers. We may receive compensation when you click on links to those products. Terms apply to the offers listed on this page. For an explanation of our Advertising Policy, visit this page.

Editor’s note: This post has been updated with current information.

Capital One Venture Rewards Credit Card overview

The Capital One Venture Rewards Credit Card continues to innovate by attracting new customers and rewarding existing ones. The card effortlessly blends fixed-value redemption with several airline and hotel transfer partners with many new transfer rates. Plus, a new lucrative sign-up bonus makes it even more attractive for new cardholders. Its low annual fee and solid return on everyday spending make it a keeper — if you’re able to get approved for it. Card Rating*: ⭐⭐⭐⭐½

*Card rating is based on the opinion of TPG’s editors and is not influenced by the card issuer.

The award travel world is incredibly complex, with transfer partners to keep track of and a never-ending stack of acronyms to memorize. But it shouldn’t have to be difficult to earn and use credit card rewards. The Capital One Venture Rewards Credit Card is a great answer to this complex problem, offering both simple earning and redemption options for beginners and high-value transfer options for the more experienced points and miles collector.

Application link: Capital One Venture Rewards Credit Card available for 60,000 bonus miles.

In This Post

Who is the Capital One Venture for?

(Photo by Wyatt Smith/The Points Guy)

Free-agent travelers, or those who aren’t inherently loyal to a single hotel chain or airline, can take full advantage of the flexibility that this card offers.

While you won’t get any airline-specific perks such as free checked bags or priority boarding with this card, you’ll be able to use your rewards to jump on the cheapest cash ticket to wherever you’re going while still taking advantage of transfer partners in all three major alliances (Star Alliance, Oneworld and SkyTeam). That flexibility to switch between “cash tickets” paid at a fixed value with Venture miles and award tickets booked by transferring your miles to the line-up of airline programs make it even easier for you to stay on top of the best deals.

Capital One Venture Sign-up bonus

The Capital One Venture comes with a decent sign-up bonus of 60,000 bonus miles after spending $3,000 on the card within the first three months of account opening. This sign-up bonus isn’t the highest we’ve ever seen from Capital One, but it’s a decent offer for the relatively low spending requirement.

Based on TPG valuations, Capital One miles are worth 1.7 cents each when they’re transferred to loyalty programs. In other words, the 60,000-mile bonus is worth $1,020.

You can transfer your Venture Rewards miles to JetBlue and book a Mint seat on its new service to London Heathrow (LHR). (Photo by Zach Honig/The Points Guy)

Related: Redeeming Capital One miles for maximum value

Main benefits and perks of the Capital One Venture

The standout benefits of the Capital One Venture are:

Benefits are only available to accounts approved for the Visa Signature card. Terms apply.

Related: 6 reasons to get the Capital One Venture Rewards card

How to Earn Capital One miles

Earning miles on the Venture Rewards card is pretty straightforward, making the card useful to those who don’t want to spend a lot of mental energy swapping credit cards in and out for different types of merchants. You’ll earn 2 miles for every dollar you spend with the card on every transaction, which means you’re getting 2 to 3.4 cents (factoring in TPG’s latest valuations) in travel for every dollar in purchases, with no annual cap.

It’s easy to zero in on high-powered and popular bonus categories for dining or travel, but there’s a lot of money that gets spent outside of defined bonus categories. Adding a card like the Venture Rewards card to your wallet can help you mop up all those extra miles and ensure you aren’t leaving anything on the table when paying for big-ticket but usually non-bonus purchases.

How to Redeem Capital One miles

There are two solid ways to redeem the rewards you earn with this card:

  1. Pay off travel purchases made in the past 90 days on your statement without having to worry about the complexities of many loyalty programs.
  2. Transfer miles to 16 airline and three hotel programs.

This second option is the way to get the most value from your miles. Here are some examples of what you can do:

  • Booking Lufthansa business class with no fuel surcharges through Avianca LifeMiles.
  • Booking American Airlines business-class flights to Europe through Etihad Guest.
  • Booking U.S. domestic flights through various airlines.

If you’re confused about how to transfer Capital One miles to airline and hotel partners, here’s how to do it.

Book Lufthansa business class after transferring miles to Avianca. (Photo by Zach Honig/The Points Guy)

Which cards compete with the Capital One Venture?

No card perfectly replicates the Capital One Venture, but here are a few cards that offer a similar experience:

  • Chase Sapphire Preferred Card:
    • 100,000 Ultimate Rewards points awarded with $4,000 in spending within the first three months from account opening.
    • 5 points per dollar on Lyft (through March 2022) and travel booked through the Chase Travel Portal.
      3 points per dollar on dining, select streaming services and online groceries (excludes Target, Walmart and wholesale clubs).
      2 points per dollar on all travel not booked through the Chase Travel Portal.
      1 point per dollar on everything else.
    • Ability to transfer points to valuable airline and hotel partners.
    • Book travel through the Chase Travel portal at a value of 1.25 cents per point.
    • $95 annual fee.

Related: Starter card showdown: Chase Sapphire Preferred vs. Capital One Venture

  • Amex EveryDay® Preferred Card from American Express:
    • 15,000 Amex Membership Rewards points after you spend $1,000 on purchases within the first three months from account opening.
    • 3 points per dollar on the first $6,000 you spend each year at U.S. supermarket (then 1 point per dollar).
    • 2 points per dollar at U.S. gas stations.
    • 1 point per dollar on all other qualifying purchases.
    • 50% points bonus when you make at least 30 purchases in a billing statement.
    • Ability to transfer Amex Membership Rewards to valuable airline and hotel partners.
    • $95 annual fee.

The information for the Amex EveryDay Preferred Card has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.

Capital One VentureOne Rewards Credit Card:

  • 20,000 bonus miles after spending $500 on purchases within the first three months from account opening.
  • 1.25 miles per dollar spent on all purchases.
  • Ability to transfer miles to valuable airline and hotel partners.
  • No annual fee.

Related: Credit card showdown: Capital One Venture Card vs. Capital One VentureOne Card

Bottom line

The Capital One Venture Rewards Card earns miles at a consistent rate and can facilitate simple fixed-rate redemptions along with more complicated awards with hotel and airline partners. This card packs a lot in for a $95 annual fee, and it even makes the cut as one of our best travel credit cards.

Official application link: Capital One Venture Rewards Card available for 60,000 bonus miles.

Additional reporting by Stella Shon and Joseph Hostetler.

Featured image by Eric Helgas for The Points Guy.

Editorial Disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

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.