Friends! Boy, do I have a treat for you! One of my very favorite credit cards is offering an amazing sign on bonus right now! I have talked about the Capital One Venture card in the past, but today I’m going to convince you that this really is just so essential to your travel hacking plans.
The Perks of Capital One
I’ve previously told you all about my three favorite cards, and this was one of them! To remind you though, this card gives you A LOT of flexibility. You are not tied to a specific airline or hotel chain, and you don’t even need to use the points you earn for travel! (Though that is obviously what I prefer this for.)
How it works is that you can ERASE travel expenses. So if you have booked a flight, a VRBO stay, a hotel or rental car, or even purchased tickets to amusement parks or museums, you can use your points (they call them miles) to void those expenses. It is a 1 mile per cent redemption ratio, so if you have 100 miles, that equals $1 that can be erased. Or on a bigger (and more reasonable) scale, 50,000 miles would erase $500 of travel expenses.
With a lot of credit cards you earn one point per dollar spent, but with this card, you actually earn two miles for every dollar spent! Those miles can add up even faster!
The Sign On Bonus
If you’ve learned anything from me about travel hacking at this point, it is that we are ALL ABOUT the sign on bonus! Typically with this card, when you sign up, if you spend $3,000 in the first three months, you’ll earn 50,000 bonus miles. Awesome! Not only that, but you will have the 2x miles that you earned on the $3,000 you spent, so you’ll be up to 56,000 miles! That is $560 of travel that can be erased, just for spending $3,000. Boom. Totally worth it, sign up now, here’s the link.
It Gets Better…
Okay, so here’s the real reason that I’m highlighting this card right now. THERE IS AN EVEN BETTER BONUS!
Like a lot of cards right now, Capital One is upping the ante to get people to sign up for their card. So right now, you can earn 100,000 bonus miles when you spend $20,000 on purchases in the first 12 months from account opening! READ THAT AGAIN! One hundred thousand miles!
This bonus is earned independently of the original one, so you’ll get the first 50,000 miles after spending $3,000 like you normally would. But then if you are able to spend $17K more in the first year, you will get 50,000 MORE MILES! Those bonus miles will allow you to erase $1000 in travel expenses! But wait, if you’ve spent 20 grand on the card, you’ll get double that in miles too! Which means at the end of this gig, you’re up to 140,000 miles that can be used for $1400 in free travel. Bonkers, I tell ya! Here’s the link again, because I’m sure you’re convinced it’s a good idea!
But $20,000 is a Lot to Spend
Yes, it really is. So this isn’t a card that you’ll bounce from super quickly. But if you are easing into the travel hacking and not applying for a million different cards anyway, then this is a great time to dedicate to this card.
If we are looking at the math of it, you would need to spend an average of $1667 a month on this card to hit the minimum spend for that bigger bonus. For us, that is pretty typical of our bills, groceries, eating out, gas, medical expenses, entertainment, hobbies and other things. Plus, we will put our auto insurance premiums on our cards every six months, which helps bump those months up. And also, vacation spending! We put that on this card too, that way we can erase the charges once we’ve got enough points!
I didn’t get the double bonus when I signed up for this card over a year ago, but am currently spending on it exclusively (since I finished my Southwest card’s minimum spend). We have plenty of airline and hotel points. But what do we really need now? Vacation rentals. With our family of seven, rental homes are going to be best for us. But I don’t exactly have a VRBO credit card yet. 🙂 Enter Capital One. Once I have enough points, I’ll be able to start erasing these types of stays!
And remember, even if you don’t hit the $20K, you’ll still get the first sign on bonus of 50,000 miles! Still totally worth it. So in case you missed it, here’s the link!
Just a Reminder
Now, I know you already know this, but I just have to say it out loud. Do not get into credit card debt that you cannot pay off in full every month! If you are paying interest to the credit card company, they win! If you just get a crap ton of points/miles, YOU WIN! There is also a $95 annual fee on this card, which isn’t cheap, but in my mind, the perks outweigh the cost. Especially when you start looking at other added benefits, such as a $100 credit for TSA precheck!
Also just as a head’s up, this particular card is a one for people that have excellent and established credit. If that’s not you, then there are other cards that will allow you to build credit and still earn points. And I have a post on that coming soon! But this one you might need to sit out.
And that’s it! I kid you not when I say this card is all I’m using right now. It has such great benefits and is so flexible, you’ll love being able to use it on ANYTHING in the travel spectrum! If you haven’t yet, click here for the link! It will take you straight to the application for this amazing offer!