Ya know, I really don’t like it when my friends manage to scoop me on credit card news and deals. Yet, that’s exactly what happened earlier this week. It started when my friend was looking for a new travel rewards card ahead of a trip he was booking. In the process, he came across the Capital One Venture card — which happened to be offering an impressive welcome bonus that I think is worth discussing. The downside? Time is apparently running out on this deal.
Right now, the Capital One Venture Card’s welcome bonus is effectively worth $1,000. Here’s how it breaks down: new cardholders can earn 75,000 bonus miles plus $250 in Capital One Travel credits after spending $4,000 on the card within their first three months. Actually, according to the wording on the Capital One site, it seems that the travel credit may not be dependent on the minimum spending requirement (although the bonus miles are). Since Capital One miles can be redeemed at a rate of 1¢ each — or can be transferred to travel partners — the 75,000 miles should be worth at least $750, hence the $1,000 total valuation.
While that welcome offer alone may make this card worth considering, the even better news is that it’s a solid pick even outside of that. With the Capital One Venture card, customers can earn 2x miles on every purchase across the board. Plus, cardholders can also earn 5x points on hotels, vacation rentals, and rental cars booked through Capital One Travel. The only downside is that there’s a $95 annual fee — which is fairly modest, but is slightly eyebrow-raising since there are plenty of 2%+ flat rate cards that have no annual fee.
What’s funny is that, when he first mentioned the Venture card as an option, I countered with the Venture X card since it would give him some lounge access. However, the Venture X’s current welcome bonus is 75,000 bonus miles after $4,000 in spending during the first three months — meaning that it’s missing the $250 credit component. So, while I could still make a case that the X is the better card in the long run, the regular Venture card was hands down the better welcome bonus offer for now. Actually, that’s exactly why I posited the idea what he might want to consider trying to product switch to the Venture X in subsequent years (but we’ll see what he decides to do).
Anyway, if this Capital One Venture card welcome bonus sounds good to you too, you might want to jump on it soon. That’s because the offer it’s set to expire on September 9th. So, if you’re looking for a simple-to-understand travel card, want to net at least $905 in value from a welcome bonus ($1,000 in miles and credits minus the $95 annual fee), and can comfortably spend $4,000 on a new card within your first three months, that it may well be worth taking advantage of this Venture card deal while it lasts.