Capital One Venture Hikes Potential Bonus to 100K Miles If You Spend Enough

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The offer described in this article has expired. See our details page on the Capital One Venture Rewards Credit Card for the current offer.

If you're looking to start stowing away travel rewards for a major vacation, now's a good time to consider the Capital One Venture Rewards Credit Card.

From Sept. 22 through Dec. 14, 2020, the $95-annual-fee card is doubling its potential sign-up bonus — although the spending requirement to earn it is also rocketing skyward. New cardholders can earn up to 100,000 bonus miles after spending $20,000 in purchases within the first 12 months of opening their account.

Previously, the card offered the following bonus: Earn 50,000 bonus miles once you spend $3,000 on purchases within the first 3 months from account opening. That offer is still on the table for new applicants who don't meet the $20,000 spending threshold for the higher bonus.

Capital One miles are worth a penny each when you use them to book travel via Capital One or redeem them for statement credit against travel purchases. In those cases, the new bonus offer is worth up to $1,000 in travel. You can also transfer miles to partner travel programs, though the value per mile differs depending on the partner.

Cash back is also a redemption option, but miles are worth only half a cent each that way.

The Capital One Venture Rewards Credit Card earns an unlimited 2 miles per dollar spent on all purchases. Through Jan. 31, 2021, it also earns 5 miles per dollar spent on all food delivery and pickup orders made via Uber Eats. Plus, cardholders get 5 miles per dollar spent on hotel and rental cars booked through Capital One’s travel website.

This new sign-up bonus offer is available only to new cardholders who have never had a Capital One Venture Rewards Credit Card. If you were to hit the $20,000 spending threshold, you'd be sitting on a pile of at least 140,000 miles — 100,000 miles from the bonus, plus 40,000 from the card's normal 2X earning rate on most other purchases.

The Venture is one of many travel credit cards that have changed their offerings to better suit cardholders’ shift in spending amid the COVID-19 pandemic. The card continues to offer the flexibility to redeem miles for a wide variety of travel-related purchases, such as flights, hotels, Airbnb, rental cars and more. Through Dec. 31, 2020, cardholders can also redeem miles for restaurant delivery, takeout and streaming service purchases from eligible merchants.