Capital One Venture Card Review
Unless you have been living under a rock you have seen the Jennifer Garner commercials. The 2x “miles” card that has no blackout dates just increased it’s offer from 40,000 “miles” to 50,000 “miles”. It is essentially a cash back card that can only be used on travel or gift cards, much like the Barclay Arrival+.
Current Sign Up Bonus Vs The Historical High
The sign up bonus on this card is usually 40,000 points worth $400 towards travel or gift cards. The offer was just increased to 50,000 worth $500 and that matches the all time high public offer.
Capital One cracked down on churners about a year ago and they won’t allow more than one card per six months.
The Venture card’s terms state:
“Existing or previous Account holders may not be eligible for this one-time bonus.”
This card has been churnable in the past. As long as you don’t currently have the card, haven’t signed up for any Capital One card in the last 6 months, and you get approved you should get the bonus.
The card earns two points per dollar. The points are worth 1 cent each when redeemed for travel or gift cards. It is essentially a 2% cash back card with more limitations when you go to redeem the rewards.
The card comes with the following perks:
- No foreign transaction fees
- Visa Signature perks that include extended warranty
The Venture comes with a $95 annual fee which is waived the first year. There are still some links for the old $59 annual fee but I am not sure how long those will last.
Sign Up Bonus Value – $500
Since the annual fee is waived the first year you get the full $500.
With the increase to a $500 sign up bonus this will be an enticing offer for many. Some people shy away from Capital One cards since they pull from all three credit bureaus. That is something you need to consider before applying.
The Venture card is essentially a 2% cash back card that can only be redeemed towards travel or gift cards. With the increased annual fee it is now on par with Barclay Arrival+’s annual fee. The Venture card’s reduced annual fee used to offset the Arrival+’s 5% rebate on redemptions. The Venture card redemption’s start at 2,500 points versus 10,000 points for the Arrival+.
Long Term Keep or Cancel?
The $95 annual fee (or $59 using the link above) means this card is not a long term keeper. The Venture card does not come with any meaningful perks that offset the annual fee. You would be better off getting the no fee Citi Double Cash (downgrade an AA card to it) and using that. The Citi Double Cash also does not limit you to using the rewards on travel which makes for easier redemptions.
The increased 50,000 point sign up bonus is a great offer. The Venture card now has a larger sign up bonus than the Barclay Arrival+ since Barclay recently reduced their sign up bonus to 40,000.
The Capital One Venture card is great for non chain hotel redemptions, those pesky international flight award fees, or status chasing redemptions.
Outside of the 50,000 point sign up it is not worth keeping long term though. You would be better off getting a fee free 2% cash back card once you have redeemed the sign up bonus.
Are you planning on taking advantage of this increased offer? Let us know in the comments.