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By Jason Steele
May 3, 2021
Capital One Venture Credit Card on a colored background
Money; Courtesy of Capital One

The Capital One Venture has always been a strong travel rewards card in the mid-priced range. But based on this latest announcement, it’s now encroaching on the premium card territory, which makes it Money’s Deal of the Month.

What’s new with Venture

Capital One is introducing three important enhancements to its flagship travel rewards card. First, it’s refreshing its miles transfer program to include several new airline and hotel partners. Beginning on April 20th, 2021, Capital One added four new travel loyalty programs: British Airways Avios, TAP Air Portugal Miles&Go, Turkish Airlines Miles&Smiles and Choice Hotels Choice Privileges. You can transfer your Capital One miles to these program at the 2:1.5 ratio. But Capital One is adding new travel loyalty programs at the improved 1 to 1 ratio. These new programs are Avianca LifeMiles, Etihad Guest, Asia Miles, AeroMexico Club Premier, Finnair Plus, Qantas Frequent Flyer, and Wyndham Rewards.

Capital One also announced that it will be opening its first two premium airline lounges at Dallas/Fort Worth International Airport in late summer 2021 and at Washington Dulles International Airport in 2022. Not your average airline lounge, it will feature a restaurant quality in-lounge dining experience, shower suites, relaxation rooms, exercise facilities and family areas. Finally, Capital One Travel will offer customers a new and improved booking experience including AI-powered price prediction and alert technologies.

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The existing offer was already excellent

All of these valuable new features come on top of the current limited-time offer for new Venture cardholders. You can earn a limited-time bonus of up to 100,000 miles after spending $20,000 on purchases within the first 12 months of account opening. Or you can still earn 50,000 miles if you spend $3,000 on purchases within the first 3 months of account opening. If you spend the entire $20,000, you’ll end up with 140,000 Venture miles, worth $1,400 in travel statement credits, since you earn double miles on all purchases.

Reward miles can be transferred to travel partners or redeemed for one cent each as statement credits towards travel reservations charged to your Venture card. This is the only card that gives you both of those options, offering you the flexibility to get the most possible value from your credit card rewards. You can also redeem your miles directly for purchases made through Amazon.com.

Other benefits include a $100 credit towards the application fees for Global Entry or TSA PreCheck® when you use your Venture card. There’s a $95 annual fee for this card and no foreign transaction fees.

Bottom line

With 1:1 mileage transfer options, new premium airport lounges and an advanced travel booking service, the Capital One Venture is transcending the mid-level market and including features found on cards that cost several times more.

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