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- The Capital One VentureOne Rewards Credit Card comes with 40,000 miles after spending $1,000 on purchases within three months from account opening.
- This is one of the greatest bonuses to ever grace a no-annual-fee credit card.
- You can potentially squeeze $1,000+ in free airfare and accommodation from this offer.
- Read Insider’s guide to the best travel rewards credit cards.
The Capital One VentureOne Rewards Credit Card now comes with its best-ever offer — and to my recollection, the best offer of any personal no-annual-fee credit card in history. You’ll earn 40,000 miles after spending $1,000 on purchases within three months from account opening.
That’s the kind of thing you’d find on some of the best travel credit cards just a few years ago. When I first opened the Chase Sapphire Preferred® Card (one of the best credit cards on the market), I received a 40,000-point bonus. It’s wild to see a comparable offer on such an accessible card.
There are many fun things you can do with the Capital One VentureOne Rewards Credit Card bonus — from free flights to free hotel stays and more. Let’s look at some of the best ways to use 40,000 Capital One miles.
Insider’s Featured Rewards Credit Cards
20,000 bonus points when you spend $1,000 in purchases in the first three months from account opening
Earn 3x ThankYou® points on restaurant, supermarket, gas station, air travel, and hotel purchases. Earn 1x ThankYou® points on all other purchases.
60,000 bonus ThankYou® Points after you spend $4,000 in purchases within the first three months of account opening
Earn 5x points on all travel purchased through Chase Ultimate Rewards. Earn 3x points on dining, including eligible delivery services, takeout, and dining out. Earn 3x points on select streaming services. Earn 3x points on online grocery purchases (excluding Target, Walmart, and wholesale clubs). Earn 2x points on other travel. Earn 1x point per dollar on everything else.
60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening
We’re focused here on the rewards and perks that come with each card. These cards won’t be worth it if you’re paying interest or late fees. When using a credit card, it’s important to pay your balance in full each month, make payments on time, and only spend what you can afford to pay.
Why is the Capital One VentureOne bonus so unique?
There are two reasons Capital One VentureOne Rewards Credit Card is the best offer we’ve ever seen on a no-annual-fee credit card.
First, the bonus is more valuable than anything offered by a no-annual-fee personal credit card. Per Insider’s points and miles valuations, 40,000 Capital One miles are worth an average of $680 in travel.
Admittedly, there have been (and currently are) higher intro offers with the best no-annual-fee business credit cards — never a consumer credit card, though. For example, the Ink Business Cash® Credit Card comes with $900 bonus cash back after you spend $6,000 on purchases in the first three months from account opening — but you must qualify for a small business credit card to get it (which, tangentially, you might do without even realizing it).
The other reason the Capital One VentureOne Rewards Credit Card bonus is so valuable is because the card allows you to transfer your points to airlines and hotels without needing to hold another card. Many competing no-annual-fee cards demand that you have a secondary, annual fee-incurring credit card to unlock the privilege of converting rewards to airline miles and hotel points. For example:
Let’s look at the value you can squeeze from 40,000 Capital One miles.
What can you do with the Capital One VentureOne welcome bonus?
Fly round-trip to Israel in coach
Flying Blue is the loyalty program shared by carriers Air France and KLM. They offer flights to Europe for as little as 15,000 points each way in coach, with taxes and fees that tend to hover around $100 each way.
Even better, Flying Blue considers Israel to be part of Europe — meaning you can find flights all the way to the Middle East for as little as 15,000 points.
With the Capital One VentureOne Rewards Credit Card bonus, you could transfer 30,000 miles to Flying Blue for a round-trip flight to Israel at these prices — and still have 10,000 miles to spare.
Take a couples getaway to the Caribbean from the southern US
British Airways prices its awards based on the distance you fly and the number of stops you have. If you can find a fun non-stop flight to a nearby destination, you can get a ton of value from your points. Specifically, you’ll pay:
- 7,500 points for segments within North America of 650 miles or less
- 9,000 points for segments between 651 and 1,151 miles
These are great prices. For example, if you live in New York, Miami, or Philadelphia, you could fly to Bermuda for just 9,000 points each way. Or, if your home airport is Miami, you could fly to the Cayman Islands, Jamaica, Cancun, and many other areas for just 7,500 miles each way.
Above is a round-trip flight from Charlotte to St. Thomas — 18,000 points and $92. With the Capital One VentureOne Rewards Credit Card bonus, you could transfer 36,000 Capital One miles to British Airways for two round-trip tickets and have a Caribbean getaway with your travel buddy.
Book a weekend in a fancy vacation home
Wyndham (the hotel chain that owns Super 8, Days Inn, Travelodge, etc.) is a partner with Vacasa vacation rentals. You can reserve Vacasa homes with Wyndham points at a nightly rate of 15,000 points per bedroom. In other words, you can book a weekend in a one-bedroom ski chalet, beach bungalow, mountain cabin, etc. for just 30,000 points.
These properties can be very expensive. They can also be quite large with the capacity to house a large family — despite being registered as a one-bedroom property.
Fly one-way to Europe in business class
Iberia is the national airline of Spain. If you’re interested in visiting Spain (or any of Europe, really), the airline has some rock-bottom deals from select US cities to both Barcelona and Madrid. Here are the routes you can book in a lie-flat seat for just 34,000 points:
- Boston to Madrid and Barcelona
- Chicago to Madrid
- New York to Madrid and Barcelona
This is a great way to get that long-haul transatlantic flight out of the way in comfort. Once you’re in Europe, you can get to just about anywhere for super cheap, thanks to the prolific low-cost airlines that serve the continent.
Iberia and British Airways are partner airlines that earn the same rewards currency. By transferring 34,000 Capital One miles to British Airways, you can then transfer those points onto Iberia for a one-way business class flight to Spain on Iberia from any of the above cities. You’ll have to pay moderate fuel surcharges (expect a little more than $100) — but the fact that these seats otherwise cost more than $2,500 means you’re getting a great deal.
Fly one-way to Japan in business class
Alright, technically you’ll need 45,000 miles to book this ticket. But after meeting the card’s $1,000 minimum spending requirement, you’ll have at least 41,250 miles. Just a meager bit of additional spending will unlock crazy value for your miles.
You can fly in a lie-flat business class seat on Japanese airline ANA, lauded for its luxury, for the following prices via Virgin Atlantic’s loyalty program:
- 45,000 Virgin Points each way from the West Coast
- 47,500 Virgin Points each way from the East Coast
These seats routinely sell for over $6,000, giving you one of the best possible redemptions for your Capital One miles. To book, convert your Capital One miles into Virgin Points and then call Virgin Atlantic to book.
Just note that you will likely be subject to taxes and fees that are quite high. ANA has been raising its fuel surcharges of late, so be wary of those before getting too excited.
What you need to know about the Capital One VentureOne bonus
The 40,000-mile bonus that comes with the Capital One VentureOne Rewards Credit Card is worth $400 in travel at the very least. You can use the miles at a rate of 1 cent each to offset just about any travel purchases (airfare, rental cars, hotels, tolls, airport parking, etc.).
However, there are other ways that you can get triple or quadruple that value — or more — by transferring your miles to airlines and hotels. You could find yourself in a lie-flat seat with bottomless alcohol and restaurant-quality meals with just a bit more effort.