You earn Capital One Venture miles, not points. But it doesn’t really matter. Plenty of travel rewards credit cards offer points, and plenty of others give you miles. The key is that you’re not earning cash back, which means you need to figure out how much your miles are worth. Fortunately, Capital One Venture miles aren’t like most other credit card miles. You don’t have to use them with a particular travel provider or on a certain website. And how much value you’ll get isn’t a mystery. Venture miles are worth a penny apiece when used to pay for any travel purchase made with your card, once that purchase shows up on your statement. Since Venture gives you 2 miles per $1, you’re basically getting 2% cash back on everything when you redeem for travel. You can also redeem Capital One Venture miles for a gift card or statement credit, but they’re worth half as much that way.
For example, Capital One Venture’s new 50,000 mile signup bonus will get you $500 in travel or $250 in cash. So if you take advantage of this offer now, you’ll save $100 more on travel versus the old 40,000 miles bonus.
For comparison, most credit cards give you 1 point or mile per $1, or 1% cash back. Needless to say, Capital One Venture is one of the best miles credit cards out there and probably one of the best cards overall. Just remember that you need good or excellent to qualify. And you need to take a flight or stay in a hotel regularly to make the most of your miles.