Capital One Venture enjoyed quite a makeover in the last two years, going from an every day cash back card with an affinity for travel, to one of the best travel rewards credit cards on the market. With limited time covid-19 related offers such as 5X points on UberEats orders, it’s actually gotten even better.
Now, if the card has somehow avoided your wallet thus far, Capital One is out with a 100,000 point welcome bonus, good for $1000 in stress free cash back on travel, or 80,000 airline miles. Is it worth adding? That’s up to you.
Capital One Venture 100,000 Point Bonus
The Capital One Venture Card offers 2X points on all spending, which equates to 2% cash back, or 1.5 airline miles with a variety of Miles Transfer Partners including: Air France, Emirates, Air Canada (Aeroplan), Etihad and more.
For a limited time, the card has also added some 5X earning, with 5X points on all UberEats orders through January 31st, 2021. That’s $5 toward future travel on every $100 you spend on delicious delivery.
Capital One Venture carries a $95 annual fee, but if you haven’t already signed up for TSA PreCheck, or Global Entry, the card gives you a $100 statement credit to use for these services, which can effectively negate the annual fee from day one. Avoiding long airport security lines is nicer now, than ever.
But really, it’s this 100,000 point bonus that’s worth discussing, because $1000 in future travel, or 80,000 airline miles or hotel points from 17 different partners is really attractive.
Unlocking 100,000 Point Capital One Venture Bonus
To unlock the bonus, you earn 50,000 points after $3000 in spending in the first three months, and then the other 50,000 points after a grand total of $20,000 in spending in the first 12 months. If you happen to spend the $20k sooner, you’d earn the full bonus sooner.
Sound lofty? You’re not wrong, but with easy ways to pay everything from rent to utilities and car payments using a credit card, and even earn rewards for doing so, many people are surprised to realize that they easily spend $2,000 per month, which means $24,000 per year.
If you earned the full bonus, you’d have 140,000 Capital One Venture Miles ready to use, assuming all spending earns 2X. If you spend a portion on UberEats, you’ll have even more points.
Spending Your 100,000 Points
There’s no need to redeem any rewards or travel now. This is just a great way to earn huge rewards for later, from spending now.
And until December 31st, you can actually redeem the 100,000 points for $1000 to cover costs of food delivery or streaming service, in addition to travel purchases. The 100,000 points are still valid for travel purchases long after December 31st, it’s just the limited time offer on streaming and food delivery that has an expiration date at this heightened redemption rate.
What’s clever about Capital One Venture is that it lets you “erase” purchases you’ve already made. So, you could invite family over to dinner, order delivery, pay, and then go and quash the charge a few days later using some of your big points stash. The same idea applies for travel purchases too.
Other than using the 100,000 Capital One Venture Miles to cover up to $1000 in future travel, there are lots of great ways to spend them, like using Air France/KLM Promo Awards to book business class to Europe for under 40,000 points, or upgrading from Emirates economy to business for similar figures.
Is Capital One Venture worth it?
That’s entirely up to you. With that said, a card offering 2% back on all spend, not just select categories is in the top tier of market leading rewards cards.
You just don’t really get much better than that. If you spend heavily on a category where other cards offer more points per dollar spent, that’s a different story. Like, 4X points with Amex Gold on all dining makes more sense if you spend ALL your money on dining.
The bonus, worth $1000, and relatively low annual fee at just $95 a year, which can be offset by covering TSA PreCheck or Global Entry application fees makes this a seriously compelling proposition.
Check out the limited time Capital One 100,000 Point offer.