How to Turn Your Home Renovation Into a Vacation | CompareCredit.com

How to Turn Your Home Renovation Into a Vacation


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LIMITED TIME OFFER

100,000 Miles when you spend $20,000 on purchases in the first 12 months from account opening, or still earn 50,000 miles if you spend $3000 on purchases in the first 3 months

Renovating your home is hard work and can be quite expensive. Whether you’re hiring and supervising contractors, or getting sweaty doing it yourself, it certainly would be nice to take a well-deserved vacation when it’s all over. Thankfully, there’s a way you can leverage your home improvement project to earn enough travel rewards to pay for most or all of your next vacation.

How to earn a welcome bonus worth at least $1,400 of award  travel

For a limited time, Capital One is offering new applicants to its Venture Rewards card 100,000 bonus miles. All you have to do is open a new account and spend $20,000 on your card within 12 months. And because the Capital One Venture Rewards card offers double miles on all purchases, you’ll earn a total of 140,000 miles by the time you’ve earned the bonus.

Alternatively, you can still earn 50,000 bonus miles if you spend just $3,000 on new purchases within three months of account opening. By earning double miles while you meet the minimum spending requirement, you’ll receive a total of 56,000 miles, worth at least $560 in travel statement credits.

That’s because Capital One miles are worth one cent each (as statement credits) towards travel you book with your card. So, when you redeem your miles for your vacation, it can cover the total price of your travel reservations, including any taxes, fees or surcharges. Or, you can now transfer your Capital One miles to airline and hotel partners. Eligible airline transfer partners include JetBlue TrueBlue miles, Air Canada Aeroplan, British Airways Executive Club and Singapore KrisFlyer. Hotel partners include Wyndham Rewards and Choice Privileges (coming later this year).

Leveraging your home improvement project to earn bonus miles

$20,000 is a lot of money, and normally you might not be able to meet the spending requirement in time to earn the bonus. However, if you’re working on a major home improvement project, this could be just the right opportunity you need to earn this limited-time bonus. For example, let’s say you’re renovating your kitchen. It would be pretty easy to charge several thousand dollars in new appliances to your Venture Rewards card. It may also be possible to charge other project expenses such as countertops, cabinets, plumbing and flooring.

Even if your project is more modest, you could still earn the entire new account bonus by also using your card for everyday purchases such as groceries, gas and even your healthcare, insurance and utility bills.

Other reasons the Capital One Venture Rewards card is a smart decision

This card can be used for far more than just earning a vacation. By offering double miles on all purchases, with no limits, the Venture card is one of the most valuable travel rewards cards on the market. It also offers a credit of up to $100 to cover the application fee for either TSA PreCheck or Global Entry (which includes PreCheck). These programs allow you to speed through the airport on your way to or from your vacation with minimal hassle.

Bottom line

Home improvement projects have been very popular since the start of the COVID pandemic. And even as we emerge from this crisis, many Americans are still eager to renovate their homes. By choosing the right credit card for the job, you can complete your project and earn enough credit card miles to pay for your next vacation.