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The Capital One Venture Rewards Credit Card (see rates and fees) offers solid perks for a mid-tier $95 annual fee card.
Right now, new cardholders can earn 75,000 bonus miles after spending $4,000 in the first three months of account opening, which TPG values at $1,388.
If you’ve decided it’s time to apply for the Venture, you’ll want to review the eligibility criteria first — especially if you’ve previously carried other Capital One cards.
Here’s everything you need to know.
Capital One Venture Rewards details
Let’s quickly look at what the Venture Rewards brings to the table, from the welcome bonus to the ongoing perks.
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Current welcome bonus
New applicants for the Capital One Venture Rewards will earn 75,000 bonus miles after spending $4,000 in the first three months of account opening.
There are two primary ways to utilize these miles. One option is to redeem your Capital One miles for any travel-related expenses on your statement, including Uber or Lyft rides, tolls and parking fees, and rental cars, or for future bookings through the Capital One Travel platform. In this scenario, each of your Capital One miles holds a value of 1 cent, resulting in approximately $750 worth of travel benefits.
However, a more advantageous alternative could involve transferring your miles to Capital One’s loyalty program partners. Most partners offer a straightforward transfer ratio of 1:1. By shifting your miles to a highly lucrative partner, such as Air Canada Aeroplan or Turkish Airlines Miles&Smiles, it is possible to easily surpass the base value of 1 cent per mile.
nnual feeThe Venture Rewards carries a $95 annual fee.
Earning
The Capital One Venture presents an earning rate that’s simple yet rewarding. You’ll earn:
5 miles per dollar spent on hotels and rental cars booked through Capital One Travel2 miles per dollar spent on all other eligible purchasesOther benefits
Beyond the welcome bonus, here are the ongoing benefits of the Venture Rewards:
Application fee credit for Global Entry or TSA PreCheck: Up to a $100 credit every four years.Two complimentary passes to visit Capital One or Plaza Premium lounges each yearTravel accident insurance*Secondary auto rental coverage*Extended warranty protection*No foreign transaction fees*Benefits are only available to accounts approved for the Visa Signature card. Terms apply.
re you eligible to apply for the Capital One Venture Rewards card?If you’ve decided to apply for the Venture Rewards, keep in mind the card’s eligibility requirements.
What credit score do I need to get the Venture?
According to reports, having a minimum score of 700 is recommended for approval of the Capital One Venture card, although individuals with lower scores have also been approved.
Capital One specifically mentions that you should have excellent credit to qualify. Still, we’ve seen multiple reports of people being approved with a credit score below 800, so it’s probably worth applying even if you’re below that mark.
Capital One application rules
Capital One restricts the number of personal cards (not business cards) you can carry in your wallet. If you already carry two or more consumer Capital One cards, you’ll likely be denied for the Venture Rewards — even if you have an excellent credit score.
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Some of Capital One’s other consumer cards include the Capital One Venture X Rewards Credit Card (see rates and fees), the Capital One VentureOne Rewards Credit Card (see rates and fees), the Capital One Quicksilver Cash Rewards Credit Card (see rates and fees) and the Capital One SavorOne Cash Rewards Credit Card (see rates and fees).
Additionally, you’ll only get approved for one Capital One card every six months, so be sure to space out your applications accordingly.
Current and previous Venture cardholders
These are the restrictions that are specifically stated in the Venture Rewards’ terms and conditions:
Existing or previous cardmembers are not eligible for this product if they have received a new cardmember bonus for this product in the past 48 months.
What if I already have the Venture X or VentureOne cards?
If you carry one of the Venture’s sister cards (the Capital One Venture X Rewards Credit Card and Capital One VentureOne Rewards Credit Card), you will still be eligible to carry the Venture and get the card’s welcome bonus. The only caveat is that you’ll want to keep a close eye on the timing of your applications.
Related: Credit card showdown: Capital One Venture vs. Capital One Venture X
Bottom line
The Capital One Venture Rewards Credit Card offers terrific value for a wide variety of travelers. Fortunately, there are only a few restrictions regarding eligibility for the card’s welcome bonus. As long as you time your applications carefully and have a credit score of at least 700, this solid rewards card can be yours.(see rates and fees)
To learn more, read our full review of the Capital One Venture Rewards.
Official application link: Capital One Venture Rewards Credit Card
For Capital One products listed on this page, some of the above benefits are provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply.
Title: Are you eligible for the Capital One Venture Rewards’ welcome bonus?
Sourced From: thepointsguy.com/guide/eligible-capital-one-venture-rewards-bonus/
Published Date: Thu, 31 Aug 2023 14:30:36 +0000
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