Limited time: Earn up to 100,000 miles with the Capital One Venture card

Jun 3, 2021

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Update: Some offers mentioned below are no longer available. View the current offers here – Capital One Venture Rewards Credit Card

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

If you’re ready to get back to earning travel rewards, now is the time to do it. Capital One’s popular, limited-time offer of up to 100,000 bonus miles with the Capital One Venture Rewards Credit Card is still around — but likely not for long.

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The Capital One Venture card not only has a massive 100,000-mile sign-up bonus, but it has great ongoing benefits, too. The card offers 2x Capital One miles on virtually anything you buy with the ability to either use those miles to offset a wide variety of travel charges on your statement or transfer those miles to airline and hotel partners.

If you’ve been thinking about adding a great rewards credit card to your wallet, here are details on the increased sign-up bonus.

Application link: Capital One Venture Rewards Credit Card available for a limited time with up to 100,000 bonus miles.

During this limited-time offer, new Venture Rewards cardholders can earn 100,000 bonus miles after spending $20,000 on purchases within the first 12 months of account opening or still earn 50,000 miles if you spend $3,000 on purchases in the first three months. That is a lot of spending, but it breaks down to an average of around $1,667 per month for a year to earn the full 100k bonus.

Related: How I earned the full 100,000-mile Venture bonus charging $20,000 worth of boring life expenses

In This Post

How the 100,000-mile sign-up bonus works

The up-to-100,000-mile sign-up bonus on the Venture Rewards card is as high as the bonus for this card has ever been.

First 50,000 miles

First, you’ll earn 50,000 miles if you spend $3,000 on purchases within the first three months of account opening.

That’s certainly a solid ongoing offer with miles that you can transfer to 16 airline or three hotel partners — or redeem for statement credit against eligible charges at a fixed rate.

ANA First Suite, booked using Avianca LifeMiles (Photo by Chris Dong/The Points Guy)
This ANA First Suite was booked using Avianca LifeMiles, a Capital One transfer partner. (Photo by Chris Dong/The Points Guy)

Related: Redeem Capital One miles for food delivery and streaming for a limited time

… and another 50,000 miles (for a total of 100,000)

However, you have an opportunity to earn another 50,000 miles by spending a total of $20,000 on purchases within the first 12 months of account opening. This amounts to $17,000 in additional spending beyond the first $3,000 needed to trigger the initial 50k miles.

According to TPG valuations (not provided by the issuer), the full 100,000-mile bonus is worth a whopping $1,700, easily making it onto our list of best credit card offers. That valuation takes into account the current lineup of transfer partners and the redemption options available through each.

Also, remember that if you spend $20,000 on the card to earn the full bonus in that first year, that spending equates to another 40,000 earned miles at 2x miles per dollar. This means you’d earn a total of 140,000 total miles in year one if you trigger the full bonus. With Capital One miles valued at 1.7 cents each according to TPG valuations (not provided by the issuer), that equates to a potentially lucrative return of up to $2,380 in value.

Earning Capital One miles

Earning on the Venture Rewards card is very straightforward: 2x miles per dollar spent on almost everything. While there may be some travel credit cards that have higher bonuses on select categories, the draw here is the simplicity — and guarantee — of earning 2x on almost anything that you buy.

(Photo by Eric Helgas/The Points Guy)
You’ll earn 2x miles on everything. (Photo by Eric Helgas/The Points Guy.)

Related: How (and why) you should be earning lots of Capital One miles

What can Capital One miles get you?

Your total value from this sign-up bonus depends on how you redeem your miles. There are several options, which include:

Previously, transfers to these travel companies ranged from a ratio of 2:1.5 miles to a ratio of 2:1, depending on the partner. However, Capital One recently launched a 1:1 transfer ratio alongside several new partners.

Of course, if you don’t want to deal with transferring your miles to these transfer partners, you can always redeem your miles to “pay” for travel charges made to the card. These redemptions can be very handy in a world where you may be renting RVs, booking vacation home rentals or securing a cabin close to home more than you’re hopping on a flight to the other side of the world.

Related: How to redeem Capital One miles at a fixed value

What other benefits and perks are there?

The Venture Rewards card doesn’t offer the same perks as many of the premium travel rewards cards — but for its modest $95 annual fee, it offers some useful ones.

You’ll get a statement credit of up to $100 every four years when you charge a Global Entry or TSA PreCheck application fee to your card. If you already have a card that offers this benefit, you can pay for someone else’s application fee and be reimbursed every four years.

Rental Cars in a lot
Get secondary car insurance with the Capital One Venture card. (Photo by alexfan32/Shutterstock)

You’ll be covered by additional extended warranty protection when you purchase items with an original manufacturer’s warranty of three years or less using your card. The Venture Rewards card also provides benefits when you travel, including secondary car rental insurance and travel accident insurance. There are no foreign transaction fees. Benefits only available to accounts approved for the Visa Signature card. Terms apply.

Related: Mid-tier travel card showdown: Chase Sapphire Preferred Card vs. Capital One Venture

Bottom line

The Capital One Venture is part of a small elite group of cards offering 100,000-mile bonuses. With the ability to transfer miles to travel partners or simply use the miles to cover the cost of whatever travel charges you wish, this is an exciting bonus for a card that has increased its value over the years.

Of course, it’s important to evaluate whether that second 50,000-mile bonus is worth a total of $20,000 in spending. On the one hand, it’s a lot of cash getting charged on one card. On the other, averaged out over a year, it’s potentially more doable than it may seem at first glance, especially if you have an opportunity to charge big-ticket items such as summer camp, tuition, home repairs and taxes.

Regardless, paying your balance in full each and every month is the first commandment of travel rewards cards. But if you can hit the threshold — and are new to the Venture card — you’ll be hard-pressed to find a better overall bonus for everyday spending.

Apply now for the Capital One Venture Rewards Credit Card with up to a 100,000-mile bonus. 

Want to learn more about the card? Read our in-depth review of the Capital One Venture card

Additional reporting by Katie Genter. 

Featured photo by 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.

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