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Cap 1 Venture: Up To $1000 In Statement Credits Against Travel

Saturday, March 31, 2012 - 4:15 PM
I haven't seen this Venture credit card deal mentioned here, so I thought I'd post a link.  Although the deal is somewhat complicated, it could be worthwhile for those who had a lot of spend on a single (non-Capital One) credit card last year and plan to do some traveling in the future:   http://www.capitaloneventure.com/  .   An interesting aspect of the deal is that it requires submitting a year-end summary for a competing credit card -- a document rich with information about spending habits that Cap One would obviously like to have.  Cap1 then awards "miles" based on the total spend (2X total amount up to 100,000 miles); these miles can be used as statement credits (100 = $1) against anything Capital One codes as travel.  So, you can get 2% of last year's spend on a single card (up to $1000) in statement credits against travel expenses that you put on the Venture card.  There's also a $1000 spend requirement (within 3 months), and a $59 annual fee that is waived for the first year.  As for which competing cards are eligible, their FAQs say:

"All major U.S. consumer travel rewards credit cards are eligible (Visa®, MasterCard®, American Express®, and Discover® ). Travel rewards cards include all credit cards that earn rewards that can be redeemed for travel purchases (flights, hotels, rental cars, etc.). Purchases on small business cards, debit cards, fleet cards, private label credit cards, corporate cards, prepaid cards, and Capital One credit cards are not eligible."   

  
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leefleef19 posts since
Jun 24, 2010
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