The Capital One Venture Rewards credit card just announced a welcome bonus that’s the highest public offer we’ve seen in four years. New applicants can earn 75,000 bonus miles after spending $4,000 in purchases within the first three months of account opening. Plus, upon approval, you’ll receive $250 in Capital One travel credit to use during your first year.
The card has an annual fee of $95.
I love earning and redeeming valuable Capital One miles, and I’ve been a very satisfied Capital One Venture X Rewards credit card holder for many years. Risk Rewards’ limited-time offer has me seriously considering adding another Capital One card to my wallet.
As the card’s public welcome bonus increases, you may be asking: How good is it?
Here are my thoughts on why this deal is a great deal and why this card punches well above its weight.
How common is this offer among risk rewards?
This is only the third time the Capital One Venture Rewards credit card has offered both 75,000 miles and a $250 Capital One travel credit. This amounts to the largest public welcome bonus we have seen in the past four years.
Targeted offers of up to 100,000 Capital One miles are available via QR codes at select airports in 2023 and 2024; however, they require a higher spend threshold to qualify for the welcome bonus and are not available to everyone.
In other words, this deal is as good as it has been in years past. If you’ve been waiting to apply for a sign, this is it.
Who is eligible for the Startup Rewards Welcome Bonus?
TPG recommends a credit score of 670 or higher to approve this product.
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If you opened a Venture Rewards or Venture X card and received bonuses within the past 48 months, Capital One will not approve your application for a new Capital One Venture Rewards card.
Therefore, you’ll need to wait at least 48 months after using these cards to earn your welcome bonus before applying for the Capital One Venture Rewards credit card.
If you only opened a Capital One VentureOne Rewards credit card or received a welcome bonus ($0 annual fee), you’re still eligible for Venture Rewards and its huge bonus.
If you were approved for any Capital One card in the past six months, you’ll need to wait to get approved for the Risk Rewards card.
How much are 75,000 Capital One miles plus $250 in Capital One Travel points worth?
According to TPG’s January 2026 valuation, Capital One miles are worth 1.85 cents per mile. That means a 75,000-mile welcome bonus plus a $250 Capital One travel credit can add up to $1,638 in travel value, especially if you transfer your Capital One miles to any of Capital One’s more than 15 hotel and airline partners.
I’ve earned and redeemed a ton of Capital One miles over the past three years, and some of my favorite redemptions include:
- When flying with Alaska Airlines, you can transfer Capital One miles to Finnair Plus at a 1:1 ratio to book domestic flights within the continental United States and Canada for 11,000 Capital One miles (plus minimal taxes and fees). Flights to Mexico and Hawaii are only 12,500 and 13,500 miles from the capital respectively.
- Flying business class from the Northeast to Western Europe costs just 60,000 Capital One miles, and you just need to transfer to Air Canada Aeroplan at a 1:1 rate. There are many excellent airlines to choose from, including Lufthansa, Swiss, Austrian Airlines and LOT Polish Airlines.
- Book Qatar Airways’ award-winning Qsuite business class product from Europe to Australia for just 90,000 Capital One miles one-way and transfer to the Qatar Airways Frequent Flyer Club program at a 1:1 rate. If you live in the US, you can book direct business class flights to the Middle East (including the West Coast) for just 70,000 Qatar Airways Avios points, which is great value for ultra-long-haul flights.
$250 in Capital One Travel points can be redeemed for $250 worth of flights, hotels or rental cars booked through the Capital One Travel portal. I’ve found Capital One travel points to be easy to use in the past because they don’t have to be used in a single transaction.
It’s also very convenient to use travel points to book flights or hotels that can’t be booked with transferable points and miles.
Also keep an eye out for occasional transfer bonus offers, as they will make you need fewer miles to book them.
Related: Decisions, Decisions: Choosing the Best Lufthansa Allegris Business Class Seat
So, is Venture Rewards’ 75,000-mile bonus and $250 travel credit one of the best deals ever?
If you qualify, now is a good time to grab the Capital One Venture Rewards credit card — not because 75,000 miles is unprecedented, but because $250 in Capital One Travel points adds to the appeal of a credit card with an annual fee of just $95.
Aside from the huge welcome bonus, here are the top five reasons why I want a Venture Rewards card:
- Low annual fee: This card has an annual fee of $95, which is much lower than other rewards cards that offer similar welcome offers.
- Impressive travel portal profitability: Earn 5 miles for every $1 spent on hotel, vacation rental and car rentals with Capital One Travel.
- Excellent daily income: Earn unlimited 2 miles per $1 spent on everything else, an impressive earn rate for a card with a $95 annual fee.
- Global Entry or TSA PreCheck Statement of Credit: Get up to $120 in bill credits every four years to pay for Global Entry or TSA PreCheck application fees.
- Hotel experience points: Every time you make a qualifying Lifestyle Select booking with Capital One Travel, you’ll receive a $50 experience credit to enjoy during your stay.
bottom line
Here’s a recap of why this deal is such a great deal:
- This is equivalent to the highest public welcome bonus we’ve seen on this card in the past five years.
- According to TPG’s valuation, the bonus miles and Capital One Travel points included in this welcome bonus are worth $1,638.
- The card earns at least 2 miles per dollar spent on every purchase, which is higher than competing products with high annual fees.
- You can transfer your Capital One miles to book flights on some of the world’s best airlines and stays at luxury hotels.
- The $250 Capital One Travel credit is easy to use on flights, hotels or rental cars booked directly through the Capital One Travel portal and does not need to be fully redeemed in a single transaction.
We don’t know when this offer will end, so if you’ve ever thought about applying for a Startup Grant, now is the time to do so.
To learn more, check out our full review of Risk Reward.
Learn more: Capital One Entrepreneurship Rewards Credit Card
