The Capital One Venture Rewards Credit Card offers a lot of potential value to new cardholders, but you’ll need to know how to make the most of its perks and rewards.
To start earning back your annual fee of $95, you’ll want to take advantage of this card’s generous sign-up bonus and travel benefits. But you need to be aware of how to qualify for and activate your perks to fully benefit.
- Earn the sign-up bonus
- Start booking travel through Capital One
- Apply for TSA PreCheck® or Global Entry
- Use the $50 hotel experience credit
1. Earn the sign-up bonus
The best way to maximize the value of the Capital One Venture Rewards Credit Card in your first few months of card ownership is to earn the sign-up bonus.
Currently, you earn a bonus of 75,000 miles after spending at least $4,000 on eligible purchases in the first 3 months after opening the account. But you might have qualified for a different bonus depending on how and when you applied.
Those current bonus miles are worth $750 on airfare or hotels when redeemed through Capital One Travel, but you might get even more value from your bonus if you transfer to one of Capital One’s partner programs.
Make sure to check available redemptions and to research Credit Karma’s estimated point values before deciding how to use your rewards.
2. Start booking travel through Capital One
Capital One rewards you for booking your trips and accommodations through its dedicated travel portal.
When you book through Capital One Travel, you’ll earn 5 miles per $1 on hotels, vacation rentals and rental cars.
Plus, you’ll earn 2 miles for $1 from all other purchases made with the card.
When it’s time to redeem your points for travel, you might be able to maximize your value by transferring your points to one of Capital One’s transfer partners. For purchases, though, Capital One Travel is likely the best option.
3. Apply for TSA PreCheck® or Global Entry
The Capital One Venture Rewards Credit Card provides a statement credit of up to $120 every four years to cover the application fee for TSA PreCheck® or Global Entry. These programs are designed to get you through airport security more quickly.
Choosing the right program for your needs is straightforward. TSA PreCheck speeds up the security checks at U.S. airports. Global Entry provides the same benefit while also helping you to get faster U.S. Customs clearance when entering the country.
If you haven’t signed up for one of these programs, be aware that you must complete the necessary application process to use these benefits. While your credit card covers the cost of the application with a statement credit, it doesn’t speed the processing time of your application.
4. Use the $50 hotel experience credit
The $50 hotel experience credit included with the Capital One Venture Rewards Credit Card effectively offsets over half of the card’s $95 annual fee.
When you book a hotel stay through Capital One’s Lifestyle Collection, you can redeem the credit at checkout for such things as dining, drinks at the bar or other activities. Keep in mind that amenities vary by each property and are subject to availability.
While this benefit comes with meaningful value, keep in mind that it’s limited only to Lifestyle Collection properties. Depending on available rates, it might save you more money in the long run to book at another hotel not included in the collection.
Next steps
The Capital One Venture Rewards Credit Card comes with additional benefits, like complimentary Hertz Five Star rental car status, but the perks highlighted above are most likely to deliver value during the early stages of your card membership.
Once you start using your card, you might find it has a few gaps. For example, if you’re looking to maximize your rewards balance for redemptions, you may want to add another Capital One card to improve on any non-travel rewards rates you get from the Capital One Venture Rewards Credit Card. If you combine your rewards right, you might end up with more miles to redeem for your next travel booking.