- Capital One Venture Rewards Visa Signature is offering up to 100,000 Miles (50,000 Miles when you spend $3,000 within 3 months of new account opening, and an additional 50,000 Miles when you spend a total of $20,000 within the first year). This comes close to this card's historical high of 100,000 miles with the first year annual fee waiver and low spending requirement in 2011 & 2012.
- Since May 2020, the $95 annual fee is no longer waived for the first year.
- 100,000 Capital One Miles can be redeemed for $1,000 in fixed-value travel rewards, or for food delivery, takeout, streaming services through 9/30/2020 as a COVID-19 relief measure.
- 100,000 Miles can also be transferred to 75,000 frequent traveler miles/points of the following parter programs: Aeromexico, Air Canada Aeroplan, Alitalia, Avianca, Cathay Pacific, Emirates, Etihad, EVA, Finnair, FlyingBlue (Air France & KLM), JetBlue, Qantas, Singapore, and Wyndham Rewards, or 50,000 Accor Live Limitless points.
- Our current valuation for Capital One Miles is 1.1 cents a piece based on the miles/points transfer feature, or 1 cent based on fixed value rewards. This card returns 2x Miles on everything, i.e., 2~2.2% rewards. Even though the $20K spending requirement is kind of high, you don't really lose anything compared to a benchmark 2% cashback card such as Citi Double Cash or Fidelity Visa. So if you could spend this much in the first year, opening this card is highly recommended.
- Keep in mind that while most other card issuers usually pull from one of the three credit reporting agencies, Capital One is infamous for pulling all three.
Capital One Venture up to 100,000 Miles ($1,000 in travel rewards or 75,000 frequent flyer miles)9/22/2020
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Chase just brought us an improved signup bonus for Sapphire Preferred:
Citi Premier has been revamped to offer 3x ThankYou points on groceries & gas & dining & airlines & hotels & travel agencies, almost single-handedly covering all important bonus categories. Previously, Citi Premier offered 3x on gas & travel, and 2x on dining & entertainment. Our current valuation for ThankYou points is 1.5 cents a piece based on the miles/points transfer feature (partners including Avianca, Singapore, Cathay Pacific, Flying Blue, JetBlue, Etihad, etc.), and thus Citi Premier returns 4.5% travel rewards for all its 3x categories. With this substantial improvement, Citi Premier is now #1 Best Credit Card for Rewards, unseating the long reigning Amex EveryDay Preferred, and also rated #3 Best Credit Card by Dr. Credit Card. Note that 3x bonus on groceries & gas has been offered to cardmembers since June, ahead of the schedule revamp as part of temporary COVID-19 relief by credit cards. Here are the before and after snapshots for our Top 10 list. However, Citi Premier only returns 1x for non-bonus spending, and we recommend looking somewhere else for general spending. For example, Citi Double Cash which usually returns 2% cashback can be a great card to pair with Citi Premier, as you may transfer Double Cash's cash rewards to ThankYou points and activate miles/points transfer feature to unlock the full potential of the card - an unmatched 3% travel rewards based on our valuation.
On the other hand, leveraging the flexible miles/points transfer feature can be both very rewarding and challenging at the same time. If you don't know how to use the transfer feature effectively / just don't want to bother with the hassles and rather prefer fixed-value travel rewards, you probably want to check out the competitors such as Chase Sapphire Reserve, US Bank Altitude Reserve, and Wells Fargo Propel Amex, each of which offers a 1.5-cent fixed-value travel redemption option. We also updated the Best Credit Card for Rewards review to reflect this change. Now we recommend Citi Double Cash + Citi Premier as one of the four best two-card combos for rewards. We will regularly update this review and also post in the blog section.
Updated August 5, 2020: Amex Marriott cobranded cardmembers will earn 10x points on Marriott & gas & dining through 10/31/2020 via Amex Offers. See details highlighted in cardinal below. COVID-19 has obviously changed consumer behavior in a way that most of us probably would had never anticipated before, and it only makes sense that credit card issuers have been making adjustments accordingly. This review summarizes all the temporary benefits provided by credit card issuers during this pandemic. American Express
Bank of America
Capital One
Chase
Citi
HSBC
U.S. Bank
© 2011-2020 DrCreditCard.net All rights reserved. The summary of all the temporary credit card benefits during this pandemic (updated 7/30/2020)7/30/2020 The featured review can be found here.
Updated July 30, 2020. Please note that the new updates are highlighted in cardinal: select Chase cardmembers receive 5x or 7x miles/points on groceries and gas, up to $1,500 in purchase per month, between 8/1/2020 and 9/30/2020. This offer requires activation. COVID-19 has obviously changed consumer behavior in a way that most of us probably would had never anticipated before, and it only makes sense that credit card issuers have been making adjustments accordingly. This review summarizes all the temporary benefits provided by credit card issuers during this pandemic. American Express
Bank of America
Capital One
Chase
Citi
HSBC
U.S. Bank
© 2011-2020 DrCreditCard.net All rights reserved. Citi offers 3x points on groceries & dining ahead of the scheduled August revamp of Citi Premier6/7/2020 Just like many other credit cards that receive COVID-19 related temporary benefits, now Citi Premier also receives something pretty good: starting June 2, 2020, you will earn 3x points on groceries (increased from 1x) and dining (increased from 2x); however, the difference here is that this benefit is considered permanent rather than temporary. Back in April, Citi announced the revamp of Citi Premier which would kick in as of August 23, 2020 and include 3x points on groceries and dining; obviously after seeing competitors ramping up the temporary COVID-19 relief, Citi has decided to move the implementation date of this benefit a couple of months earlier. However, the whole revamp situation is kind of complicated, and here we would like to break it down for you.
As covered in a previous post, we praised Chase Sapphire Reserve for offering powerful temporary COVID-19 related benefits such as reduced annual fees, 5x points on groceries, enhanced flexibility for $300 annual travel credit, and enhanced flexibility in points redemption. Now Citi and US Bank are following Chase to offer some great temporary benefits for Sapphire Reserve's two major competitors.
With the unfortunate recent devaluation of United miles, we have to adjust our ranking. Chase United Club Visa is now replaced with Amex Green Card as the #10 Best Credit Card by Dr. Credit Card. We don't want to cover the details of the devaluation - you might visit travel blogs such as onemileatatime for details. In a nutshell, United has decided to align its Star Alliance partner redemption rates with those of its own metals, and as a result, our valuation of United miles is adjusted from 1.4 cents per mile (cpm) to 1.3 cpm. Below is a comparison of our Top 10 list before and after this change.
Chase further improves COVID-19 related benefits for Sapphire Reserve and Sapphire Preferred5/29/2020 As detailed in the previous post, several card issuers have temporary COVID-19 related benefits for select credit cards. Now Chase pushes this further on the popular Sapphire Reserve Card and Sapphire Preferred Card.
Obviously, Sapphire Reserve is a very powerful card during this special time, as no other card has offered 5x points on groceries temporarily or offered 1.5 cent/point temporary redemption option for groceries & dining & home improvement. Of course the added flexibility of the annual $300 travel credit and temporary reduced annual fees all add to the value of the card. Personally, I was on the fence whether to keep this card upon my renewal in the coming October due to the increased annual fee and greatly reduced spending on travel & dining, and now it is clear that I will keep this card, at least for another year. |
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