Why the Capital One Venture will be the next card I add to my wallet
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Update: Some offers mentioned below are no longer available. View the current offers here – Capital One Venture Rewards Credit Card
Although the Capital One Venture Rewards Credit Card is one of the top travel credit cards, I’ve held off getting it. I have my Chase Sapphire Preferred Card, Chase Freedom Unlimited and American Express® Gold Card — why add another mid-tier card that earns transferable points to the mix?
Well, there’s actually lots of reasons and my mindset has recently changed. Between new partnerships over the last few years, a great sign-up bonus, my spending plans this year and the classic benefits that have long made this card great, 2021 is the year I finally try to add it to my wallet. Here’s why.
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Current sign-up bonus
Of course, one of the top reasons to apply for the Capital One Venture Card sooner rather than later is the current sign-up bonus. Right now, you can earn 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 three months.
This is the highest the welcome bonus has ever been and while it isn’t the first time we’ve seen a 100k bonus on the Capital One Venture, but this is the first time that I’m confident that I’ll be able to hit the spending requirement to earn the full bonus amount.
I’ll be moving apartments this year once my current lease is up. And where I historically would have packed everything up myself and borrowed a friend’s truck, this year I plan on actually hiring movers to save the hassle (and back pain). Moving expenses alone will help me put a dent in the spending requirement.
Those 100,000 miles will be worth at least $1,000, which I plan on putting to good use once I’m vaccinated and back to traveling this year.
Redeeming at a flat rate
One of the classic benefits of the Capital One Venture is the ability to use miles at a fixed value to redeem for travel purchases up to 90 days after you charge them to the card.
When redeeming my Chase and Amex points, I pretty much never use them on anything other than flights or hotels. But with Capital One miles, I have the option to transfer to 13 airlines or two hotel partners — or I can use them for 1 cent each on things like train tickets, bus fare, travel agents and Airbnbs. I stay in Airbnbs more than I do hotels, so that redemption option alone is a great incentive.
I’ll also be able to use the card’s miles to cover budget flight deals I find on online travel sites (such as Expedia or Orbitz) where I couldn’t transfer Chase or Amex points or find the same deal through the Chase Ultimate Rewards portal.
Everyday spending card
The Capital One Venture earns 2x miles on every purchase, making it a great card for non-bonus purchases.
I currently have the Chase Freedom Unlimited, which I love and use for all non-bonus spending right now. But having another everyday spending card in my wallet that earns miles at a higher rate is enticing — especially with those moving expenses I talked about on the horizon.
After I’ve hit the full spending requirement for the sign-up bonus, I won’t put all of my non-bonus spending on the Capital One Venture (I’ll still want to take advantage of the fact that I can move my Freedom Unlimited points over to my Chase Sapphire Preferred account). But I’ll likely use it for everything except for my recurring bills for things such as streaming services and my gym membership that I keep on my Freedom Unlimited currently.
Related: Best cards with everyday spending
Global Entry/TSA PreCheck credit
These days, pretty much every premium card comes with up to $100 in statement credits for your Global Entry or TSA PreCheck application fee. But I don’t currently have a premium rewards credit card.
In the past, I haven’t traveled enough internationally to care that much about having Global Entry and I’ve lived near airports that never had security lines that made TSA PreCheck a monumental time saver.
But toward the end of this year and most certainly into next, I plan to do a lot more traveling, which will make having both incredibly helpful.
New partnership with Hopper
I use Hopper during my research process when booking trips to help figure out the best booking time. Having Hopper integrated within the Capital One travel portal is compelling to me.
Earlier I mentioned that I’d likely use my Capital One miles to book cheap cash tickets. If the Capital One app will soon be able to help me set trip notifications for price drops and seamlessly use miles on any trips I do decide to book, that’s a compelling reason on its own to have the Venture in my wallet.
There are many reasons that the Capital One Venture is a great credit card for both budget travelers like me and luxury travelers like Brian Kelly (who insists the Venture is the one card he can’t live without). But up until now, it just hasn’t made sense for me to add the card to my wallet.
However, things have shifted in terms of my priorities and the ability to hit the spending required to trigger the full 100,000 miles is enough to make me want to add it to my lineup of credit cards this year.
Apply for the Capital One Venture with a 100,000-mile bonus.
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