When I signed up for the Capital One Venture card earlier this year, they were only offering 20,000 miles as a sign-up bonus. 20,000 miles equals to $200 in travel credit. Capital One has now increased the sign-up bonus to 40,000 miles (or $400.) There’s no telling how long this offer will last, but if you do decide to apply for the Venture card, I wanted to warn everyone that Capital One pulls your credit from all 3 bureaus. This means that you’re going to take a hard pull from TransUnion, Experian, and Equifax. If you have any kind of freeze on any of your 3 credit reports, you’ll have to lift this before apply. I did not know this about Capital One when I applied in February. I was approved for $5,000, but I’m very hesitant about applying for this card for my partner as I don’t want him to take a hard inquiry at each credit bureau since his credit isn’t stellar.
Here is the link to apply for the Capital One Venture card: http://www.capitalone.com/credit-cards/venture-rewards/ (remember, I do not get any credit or commission if you apply. I just enjoy posting and sharing information!)
The Capital One Venture card will earn you double miles on each and every purchase. For instance, if you have a $500 flight you want to book, you’d have to spend $25,000 on the card in order to wipe away the $500 flight. Now $25,000 sounds like a lot, but I’ve found that Capital One is VERY generous on allowing their customers to manufacture spend. I’ve only had to call in twice to verify my charges, and there are some months where I’m pushing $25,000 a month through my Venture card. In fact, I have my London trip coming up this July and I’ve been pushing the manufactured spending hard on my Venture card to cover all 3 nights with miles when I’m in London.
If you’re looking for a way to meeting the $3,000 spending requirement fast in order to collect your 40,000 miles, I would recommend getting 2-3 family members to sign-up for an Amazon Payments account. This way you can send credit card payments to each other (up to $1,000 a month) transfer the money to a bank account, and then send a BillPay to Capital One. I have 3 Amazon Payment accounts and push $3,000 through the accounts each month. Amazon comes in very handy when I need to meet spending requirements for new cards!