Current welcome bonus on the Capital One Venture Rewards card

By DFB Guy On Aug 27, 2024

One of the most valuable bonuses on a credit card is coming to an end soon.

The Capital One Venture Rewards Credit Card is a great choice for beginners and experts who want an easy way to earn miles without much effort.

For a limited time, the card is offering new applicants the chance to earn 75,000 bonus miles after spending $4,000 on purchases in the first three months after opening an account, plus a $250 Capital One Travel credit valid during the first year of card membership.

However, this offer is ending soon, so if you’ve considered applying for this card, now is the time to do it.

Here’s what you need to know about the current Capital One Venture Rewards offer.

Capital One Venture Rewards welcome offer

The Capital One Venture Rewards currently has a limited-time welcome offer of 75,000 bonus miles after spending $4,000 on purchases within the first three months of account opening. In addition, upon opening your account, you’ll receive a one-time $250 credit for Capital One Travel — which is valid for one year.

This offer will net you $1,639 in rewards (per TPG’s August 2024 valuations) after hitting a very manageable spending requirement — on top of a solid return on everyday spending and a few notable travel benefits. That’s considering the value of the 75,000 bonus miles and the Capital One Travel portal credit together.

And it’s possible to squeeze significantly more value from that bonus if you know how to redeem Capital One miles for maximum value, thanks to their impressive roster of transfer partners. The travel credit can be applied to flights, hotel reservations and car rentals booked through Capital One Travel. Since this card earns 5 miles per dollar on hotels, vacation rentals, and car rentals booked through Capital One, that will be the best way to maximize this travel credit.

One thing to keep in mind is that this travel credit expires on your next card anniversary, so make sure to use it before then.

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This offer is very close to the best-ever welcome offer we have seen on this card. Now would be a good time to apply due to the limited-time elevated welcome offer ending soon.

Note that this welcome bonus is identical to the premium Capital One Venture X Rewards Credit Card minus the $250 travel credit. As a result, be sure to crunch the numbers to ensure that the standard Venture Rewards card still makes the most sense for your situation. Currently, the welcome offer on the Venture X is 75,000 bonus miles after spending $4,000 on purchases in the first three months of account opening.

Earning Capital One miles

This card earns a flat 2 miles per dollar on most purchases. So, by spending $4,000 on it to earn the welcome bonus, you’d earn a total of 83,000 miles in the first few months. That bumps the total value of your miles after earning the bonus up to $1,786, based on TPG’s August 2024 valuations.

In addition, you could earn even more on those purchases, as the Venture Rewards card offers 5 miles per dollar spent on hotels, vacation rentals, and car rentals booked through Capital One Travel.

While some travel credit cards may earn slightly higher rates on select categories such as groceries or dining, the draw here is the simplicity — and guarantee — of earning 2 miles per dollar on almost anything you buy without memorizing bonus spending categories.

What can Capital One miles get you?

Your total value from this sign-up bonus depends on how you redeem your miles. There are two ideal options:

Redeem for 1 cent apiece toward travel
Redeem by transferring to Capital One’s 15-plus partner airlines and hotels

When converting your miles to hotel points or airline miles, most partners offer a 1:1 transfer ratio, though a couple unfortunately transfer at a 2:1 or 2:1.5 ratio.

If you don’t want to transfer your miles to these 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 often than hopping on a flight to the other side of the world.

TPG senior editorial director Nick Ewen transferred 117,000 Capital One miles to Emirates Skywards to upgrade himself and two family members to Emirates First Class. This broke down to 39,000 miles per person, a reasonable upgrade cost.

Other Venture Rewards perks

The Capital One Venture Rewards doesn’t offer the same benefits as more premium travel rewards cards, including its upscale sibling, the Capital One Venture X Rewards Credit Card. But for its modest $95 annual fee (see rates and fees), the Venture Rewards provides some useful benefits:

Bottom line

With the ability to transfer miles to travel partners or use miles to cover the cost of whatever travel charges you wish, 75,000 miles is a very solid bonus for a card that has only improved its value proposition and perks over the years. The addition of a $250 Capital One Travel credit only sweetens the deal for new applicants.

While this isn’t the best offer we’ve ever seen on the Venture Rewards card, it meets our threshold of being a good time to apply for it. Now is a great time to consider adding this card to your wallet, especially since this limited-time welcome offer is ending soon.

To learn more, read our full review of the Capital One Venture Rewards card.

Apply here: Capital One Venture Rewards Credit Card

For Capital One products listed on this page, some of the benefits may be provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply.

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