Capital One VentureAttention travelers: The Capital One Venture Rewards Credit Card just upped its intro bonus to 50,000 bonus miles — that’s worth $500 in travel! Cardholders will earn this 50,000-mile bonus after they spend $3,000 on purchases in the first 3 months from account opening. While this new intro bonus is impressive, it’s not the only aspect of the card that worth noting. Keep reading to determine if this upgraded travel rewards credit card is a solid addition to your wallet.

What does the Capital One Venture Rewards Credit Card offer?

Capital One Venture Rewards Credit Card
  • Earn 50,000 bonus miles — worth $500 in travel — when you spend $3,000 on purchases within 3 months from account opening.
  • Earn an unlimited 2X miles per $1 spent on every purchase, every day.
  • Pay no foreign transaction fees.
  • Redeem your rewards without blackout dates or travel restrictions.
  • Pay $0 annual fee for the first year (after that, it’s $95/year).

The Capital One Venture Rewards Credit Card makes earning miles easy. That’s because it earns an unlimited 2X miles on every $1 spent on any purchase. This means you don’t have to worry about making purchases in specific categories, such as travel, to earn rewards. On top of that, when you spend $3,000 on purchases within the first 3 months from account opening, you’ll get a 50,000-mile bonus, as we noted above.

When you’re ready to redeem your miles, you have a couple of options — note that neither option has blackout dates or travel restrictions. First, you can book travel with your card, then use Capital One’s Purchase Eraser to pay for part or all of the travel expense. This option allows you to book through your favorite travel websites, travel agent or any other travel resources. It should be noted that Purchase Eraser redemptions must be made within 90 days from the date your travel purchase posts to your account. The other way you can redeem your miles is using Capital One’s rewards center online, or calling the rewards center, to book a flight, hotel stay or car rental. Regardless of which method you choose to redeem your rewards, your points are valued at $2.00 for every $100 spent, according to our Travel Rewards Credit Card Analysis. Cardholders can also redeem their rewards for gift cards, merchandise and more, but these options don’t hold the same redemption value.

Other perks of the Capital One Venture Rewards Credit Card include no foreign transaction fees, a must for any world traveler, and no annual fee for the first year (after that, it’s $95/year). The card also offers Visa Signature benefits, which include access to 24/7 complimentary concierge service; complimentary upgrades and special savings at hotels, resorts and spas when they pay with their card; shopping discounts at retailers and online merchants; emergency card replacement service which a cardholder can take advantage of if their card is lost or stolen; auto rental collision damage waiver at no additional cost; extended warranty protection at no charge on eligible items that are purchased with their card and more.

Does the card have any downsides?

As Capital One boosted the Venture Rewards Credit Card’s intro bonus amount, it also increased the annual fee to $95 (it’s up from $59). Even though this new fee isn’t terrible, as it’s about the same price as most other travel rewards credit cards we review, it’s definitely not something that you want to overlook. If you’re someone who just can’t stand the idea of paying an annual fee, consider its sister card, the Capital One VentureOne Rewards Credit Card. This card earns an unlimited 1.25 miles per $1 spent on all purchases and offers 20,000 bonus miles — worth $200 in travel — to cardholders who spend $3,000 on purchases in the first 3 month of account opening. Cardholders will pay no annual or foreign transaction fees and get a 12-month 0% intro APR on purchases, and the card comes with the same Visa Signature benefits as its sister card. It should be noted that both the Venture and VentureOne credit cards require good to excellent credit (usually considered a credit score of 700 or higher) for approval.

If you have less-than-perfect credit and you still want a top-notch travel rewards credit card, check out Discover it Miles, which is available to those with average to excellent credit (usually considered a credit score of 670 or higher). This card earns unlimited 1.5 miles on all purchases, has no annual fee or foreign transaction fees and offers a 14-month 0% intro APR on purchases. What’s more, Discover will match all of the miles you’ve earned at the end of your first year as a cardholder — meaning if you earn 40,000 miles in the first year, Discover will match that and give you a total of 80,000 miles! Rounding out this card are some added perks, like free identity theft alerts and special shopping deals.

Is the Capital One Venture Rewards Credit Card right for you?

The Capital One Venture Rewards Credit Card is a strong addition to any world traveler’s wallet because it makes earning rewards easy, as you earn 2X miles on all purchases with no categories to remember, and it has no foreign transaction fees, something that all travelers need. The new intro bonus sweetens this deal even more, but if you can’t get over the $95 annual fee — remember that it’s waived for the first year — you’ll probably want to look into the other fee-less cards we noted above.┬áCheck out our Capital One Venture Rewards Credit Card review to get more information about the card and apply online.

Disclaimer: This content is not provided or commissioned by the credit card issuer. Opinions expressed here are author’s alone, not those of the credit card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer. This content was accurate at the time of this post, but card terms and conditions may change at any time. This site may be compensated through the credit card issuer Affiliate Program.