Up to 110,000 “mile” sign-up bonus on Capital One Venture Rewards credit card

When it comes to unnecessarily complicated deals, this one’s a winner! The Capital One Venture Rewards credit card is offering their standard 10,000 mile sign-up bonus after spending $1,000 within three months, plus they’re willing to match your mileage balance in any given airline mileage account, up to 100,000 miles. Now there are several interpretations of this, as the verbiage suggests that only miles earned through credit card spend would qualify (in other words, you would need to prove 100,000 miles earned through credit card spend), though the practical interpretation seems to be that mileage in an airline account qualifies.

The other asterisk here is that the offer is good through May 13 or until they have given away a billion miles through the match program. A lot of people are worried about that, given that you won’t know until after you’ve applied and you’re approved whether you qualify, though I have a hard time imagining that over 10,000 applications will be approved that quickly, and that each of those people has 100,000 miles in one of their accounts to show for the offer.

As far as the actual redemption opportunities for the card goes, these aren’t traditional miles we’re talking about. Instead, each of these “miles” is good towards the purchase of travel at a rate of one cent per mile. In other words, the sign-up bonus here is up to $1,100 in “credit” towards travel purchases, including airline tickets, hotels, etc., all of which are eligible for mileage/points accrual.

(Tip of the hat to Gary)


  1. Though most of us have affinity cards that have eliminated FOREX fees within the past 6 months, even if many get screwed by the 100K card-only miles interpretation this is still useful as a go-to card to avoid Forex fees. Of course then you’re stuck with the evil that is Capital One, unfortunately.

    I bit, got approved. We’ll see what happens.

  2. Capital One WILL find a way to screw you out of it. I got a card from them that gave me 0% on spend for a year , a couple % cash back, etc… seemed pretty sweet. On my first charge it bounced… when I asked why, they said I exceeded my credit limit… it was $500. !!! I said, umm… can I get it raised? They said nope… they have a proprietary algorithm to determine credit limit and it is not done upon request. So I still have my $500 limit 3 years later without using it. 🙁

  3. Is anyone nervous that churning through credit cards might not look great on a credit report? I only have two cards, and I have never been late on a payment…. Worried that if i apply for a bunch, it might ding my perfect credit…..

  4. Ben, thanks for the post.

    If you are in the credit card churning game and have 100,000+ miles in an account, it appears to be a no-brainer. The first year fee is waived, so the only hit out there is the credit card pull, should not be a big deal.



  5. Wondering if this only applies to Airline Credit Cards, or if Airline Debit Cards will also qualify, such as the Continental Airlines Chase Debit Card, or the AA Citibank Debit Card.

  6. @Kevin,

    The only negative thing I can see on my credit report is the average length of my accounts.
    I think it is important to keep a couple of card accounts open “forever” preferably ones with no fees. Then churn other cards. One of my problems is that I have had a Diners Club card for a long time but really want to cancel it since it isn’t of much use to me and I don’t want to pay the annual fee. My other long term account is a Discover card which I don’t use but it doesn’t cost me anything.

    Opening new accounts takes a few points off your score but nothing too bad. I’d be interested in other opinions or if anyone knows for sure.

  7. Trading in 100k miles to get a $1,100.00 credit toward real tickets/bookings/purchases, etc. is just plain stupid! What a farce!

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