The Capital One Venture Rewards Credit Card makes earning miles easy with its simplified rewards structure. Unlike travel rewards cards that feature tiered programs or spending caps, this card allows you to earn unlimited 2 miles for every $1 spent on purchases. The annual fee is $95.

That makes earning miles hassle-free, whether you're spending on travel, dining out or just picking up groceries. Redeeming miles is just as easy, since you can use them to book travel with no blackout dates or restrictions. Miles are valued at 1 cent each so there's no guessing about how much they're worth.

If you have the Capital One Venture Rewards Credit Card or you're thinking of applying for this card, here's how to make the most of it.

Snag the welcome bonus miles

If you're a brand-new cardmember, you can boost your miles earnings by qualifying for an introductory welcome bonus. The Capital One Venture Rewards Credit Card is currently offering the following welcome bonus: Enjoy a one-time bonus of 75,000 miles once you spend $4,000 on purchases within 3 months from account opening, equal to $750 in travel.

Even if you don't plan to travel soon, you could earn the bonus by charging everyday purchases and bank those miles for when you're ready to travel.

Use your card to pay for Global Entry or TSA PreCheck

Global Entry and TSA PreCheck can help you get through airport screenings faster. The Capital One Venture Rewards Credit Card comes with a credit of up to $100 to offset the application fee for one of these options — just use your card to pay the fee when enrolling.

Visit airport lounges

New in 2022, cardholders get two complimentary visits per year to Capital One lounges or to more than 100 Plaza Premium lounges.

Transfer miles to hotel and airline loyalty partners

While you can redeem miles earned with the Capital One Venture Rewards Credit Card for a travel statement credit, that's not the only way to put them to use.

You can also transfer miles to several hotel and airline travel partners, including:

Aeromexico.

Air Canada.

Avianca.

Cathay Pacific.

Etihad.

Finnair.

Qantas.

Wyndham Hotels and Resorts.

When transferring miles earned with Capital One Venture Rewards Credit Card to airline and hotel partners, pay attention to the transfer ratio to make sure you're squeezing the most value possible from your miles.

Use miles to shop at Amazon if you're taking a travel break

Miles earned with the Capital One Venture Rewards Credit Card can be exchanged for cash back, though that cuts your mileage value in half. A better option for users who don’t plan to redeem miles for travel might be to use them to shop at Amazon.com. To do this, add the card details to your Shop With Points account in Amazon, then use miles to pay at checkout.

While you won't get the same 1 cent each value for miles that you’d get if you redeemed them for travel, you will get around 0.8 cent each when redeemed through Amazon. You’ll get more value through the online retailer than you would if you redeemed them for cash.

Pair it with a cash back card

The Capital One Venture Rewards Credit Card keeps things simple when it comes to earning miles. But you can do double-duty on earning rewards by pairing it with a cash-back card that pays a high cash-back rate for spending in specific categories like supermarkets. Use each card for the purchases where it pays the most miles or cash back to get more out of every dollar you spend.

The bottom line

The Capital One Venture Rewards Credit Card can get you extra value if you use it strategically. Earn the welcome bonus, know which airline and hotel partners offer the best returns on miles transfers and consider pairing the Capital One Venture Rewards Credit Card with a cash back card to make every purchase as rewarding as possible.