5 reasons to apply for the Capital One Venture Card right now

Aug 5, 2020

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.

The Capital One® Venture® Rewards Credit Card has long been one of our most recommended travel credit cards, especially for beginners and those who are looking for a non-bonus spending card. You’re earning at least 2x Capital One miles on every purchase year-round, but there are plenty of other reasons to apply for the card — including a few temporary perks recently added.

New to The Points Guy? Sign up for our daily newsletter and check out our updated beginner’s guide.

In This Post

1. $1,400 in sign-up bonus value

The card starts off with a bang. You’ll earn Earn up to 100,000 bonus miles when you spend $20,000 on purchases in the first 12 months from account opening, or still earn 50,000 miles if you spend $3,000 on purchases in the first 3 months of account opening, which TPG values at $1,400. While that’s certainly not the most lucrative sign-up bonus available, it’s a solid offer for a mid-tier credit card that only charges a $95 annual fee.

Plus, by the time you earn the bonus, you’ll have earned at least 12,000 additional miles from hitting the spending threshold, which is an extra $168 in value.

2. Non-travel redemption options

Through Sept. 30, 2020, cardholders have expanded redemption options with the Capital One Venture card. Rather than just being able to redeem miles for a fixed value on travel by “erasing” recent eligible purchases, Venture cardholders can now also redeem miles at a 1:1 ratio for takeout, food delivery and streaming services.

Right now, travel isn’t at the top of many’s priority lists. Instead, a lot of people are focused on saving money on everyday expenses. Having a flexible card that offers a fixed-rate redemption option in this season of traveling less is incredibly valuable.

Related reading: Maximizing rewards points for non-travel redemptions

(Photo by Getty Images/Katleho Seisa)
The addition of non-travel redemption options on the Capital One Venture makes it easier to utilize the miles you earn. (Photo by Katleho Seisa/Getty Images)

3. 5x on Uber Eats

Another temporary benefit of the Capital One Venture is earning 5x on Uber Eats through Jan. 31, 2021. There is no cap on how much you can earn — all you have to do is log into your Uber Eats account and use your eligible Capital One credit card for your purchase.

The best part? Since Uber Eats falls under the food delivery redemption category, you could use the Venture to earn 5x on your Uber Eats purchase and then use those miles to directly offset the cost of that order by utilizing the current purchase eraser tool. It’s another way Capital One is trying to help cardholders get more use out of the card while travel is on the back burner.

Related reading: Best cards for food delivery

4. 5x on hotels and rental cars

One lesser-known perk of the Capital One Venture is that it earns 5x on hotels and rental cars when you book with your card through Capital One Travel. You might question why two travel-related bonus categories are reason to apply for the card right now, but these categories are conducive to earning rewards on a certain type of vacation — road trips.

While flying — especially internationally — is less appealing right now because of the coronavirus pandemic, many Americans are still taking advantage of nearby road trip destinations (in fact, a few TPG staffers have taken road trips to social-distancing-friendly locations lately to help quench our wanderlust). If you don’t have a car or need to rent a larger one to fit more people and luggage, 5x on car rentals isn’t a bad return in the slightest.

Related reading: 10 tips for anyone taking a road trip right now 

(Photo by Jamie Kingham/Getty Images)
The Capital One Venture earns 5x on car rentals and hotels when booked through Capital One Travel — a perfect combo for booking an upcoming road trip this summer or fall. (Photo by Jamie Kingham/Getty Images)

5. Long-term value

While there are some temporary perks that could help you get even more value from the card in the short-term, this card will continue to be useful past this summer. Travel will eventually return, and when it does, you may be more interested in using miles to transfer to partners or redeem for other travel purchases. The Venture offers benefits to help you maximize non-travel spending and redemptions now while still giving you travel-related benefits and spending categories for down the road.

Related reading: Capital One Venture credit card review

Bottom line

The Capital One Venture can easily be lost in the travel credit card shuffle since it’s competing against some heavy-hitting cards in that arena such as the Chase Sapphire Preferred Card or American Express® Gold Card. But there are a lot of reasons why you should consider adding it to your wallet.

Whether you’re a beginner just getting started in the rewards game or a seasoned rewards card user looking for a card to use on non-bonus spending, there’s a lot to love about the Venture — a favorite of The Points Guy, Brian Kelly. Sure, you’re getting some great benefits during the summer of 2020, but there are also perks and benefits you’ll get with this card long past the end of this year.

Sign up for the Capital One Venture credit card to earn up to 100,000 bonus miles when you spend $20,000 on purchases in the first 12 months from account opening, or still earn 50,000 miles if you spend $3,000 on purchases in the first 3 months of account opening. 

Featured image by Wyatt Smith/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.