It’s easy to get overwhelmed in the points and miles travel hacking game. There are so many travel credit cards out there. Knowing which one to apply for has a lot to do with the type of traveler you are. If you don’t fly or stay in hotels often, I have a great credit card for you. Even if you do frequent hotels and fly often, here’s an easy way to save over $500 on travel.
This credit card offers a sign up bonus of 50,000 miles after a minimum spend of $3,000 within the first 3 months of having the card. The card earns 2 x the miles for each dollar you spend. This card has no annual fee the first year and charges a $95 annual fee starting in your second year.
If you only meet the minimum spending requirement, after receiving the sign up bonus, you’ll have $560 to use toward any type of travel. Any purchase made with the card that codes as travel is eligible to be “covered” with the 56,000 miles you’ve earned.
There is a Business Version of this card as well: The Spark Miles for Business Credit Card. It works much the same ways as the Venture Credit Card.
Each mile is worth One Cent toward travel. Redeeming miles is easy. Simply use your Capital One Venture Card to make a travel related purchase. After you have made a travel purchase, you have 90 days to redeem miles to cover the purchase.
To redeem your miles, go to your Capital One account online or in the handy app. Navigate to “Redeem Rewards” and then select “Cover Your Purchases”. You’ll see a dollar amount available for “erasing or covering” your travel purchase(s).
Now, a list of eligible travel expenses to choose from populates. Select the travel expense you’d like to cover. Indicate the dollar amount to cover. Note that you can choose to cover all or a portion of any travel purchase up to the amount showing as available. That charge will be credited and will no longer appear on your credit card statement. Couldn’t be much easier could it?
My Savings with Capital One Miles
I’ve used Capital One miles to cover Airbnb and non-chain hotel stays. I took a fabulous round-trip scenic train ride from Oslo to Bergen, Norway courtesy of Capital One Miles. That was a savings of $236.
Recently, I used these miles to cover the hotel restaurant meal I charged to my room while in Phoenix. Not only did I remove the cost of my dinner, but my companion’s meal as well. I saved over $69 on that meal. Note, you must charge the meal to your hotel room in order to have it code as a travel expense.
What codes as travel?
Airfare and Hotels
Airbnb, Home Away, VRBO and OneFineStay.
Trains, buses, taxis, car rentals, limousines, Uber and Lyft.
Incidental charges at hotels when billed to your room such as meals and in-room entertainment.
Campgrounds, cruise lines, travel agencies
Checked baggage and other incidental airline fees.
Additional Card Perks
Earn 10 x miles when you book a hotel at hotels.com/venture through January 2020.
Pay no foreign transaction fees while traveling and using your card abroad
Receive up to $100 credit towards Global Entry or TSA Pre Check. Just use you Capital One card to apply for either TSA Pre Check or Global Entry. If you already have one of these designations, use the perk for a family member or friend.
Transfer your miles to one of 15 Airline Transfer partners. Note that not all airline partners offer a 1:1 transfer rate. This is likely not the best way to redeem your miles.
Auto Rental Collision Damage Waiver
Travel Accident Insurance and more…
Life sure is fun when you can cover travel expenses with points and miles. If you want simplicity and a way to save over $500 on Travel, the Capital One Venture Credit Card is a great travel card.
Do you currently have this card? If so, how have you used the miles you’ve earned to cover your travel expenses. Scroll down and leave a comment.
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