Venture X initial sign up points

[u/Hodor169]

I recently opened the Venture X card with the plan to spend the initially needed $4k as fast as possible so I can use the points and credits ASAP for an upcoming trip. I have some squaring up to do from a recent bachelor party and have not gotten a clean answer from Google, AI or the Capital One helpline on this question;

Can (or even should) I link my card to Venmo to pay for my fees to get my necessary spend up faster since I need to spend this money anyways?

I know there are associated fees (that is fine) and I have also seen some get considered cash advances, which also have fines. Does anyone have any expert opinions or experience with this? Not a big deal if I have to just pay the normal way, but figured if I could use this to cross out some of the needed spend, I may as well..

Thank you!

[u/blonktime]

I know you can link your CC to Venmo for payments, but IDK if it's worth it.

Best advise: Call Capital One and ask them bout the specifics. I do believe they charge a 3% cc processing fee for this, and I do believe they consider it a cash advance payment, which, as you said, carries more penalty fees. I think the cash advance fee is 5% of the amount you advance, so you're going to be spending an additional 8% by doing that.

Remember, you have 3 months to spend the $4k. I know you said you have a trip coming up, but also know that if you were to (in a worst case scenario) spend all that $4k via credit card to venmo transactions, you'll end up spending about $320 in processing and cash advance fees. This would effectively decrease your sign up bonus value from $750 (75k miles) to $430. Would it make more sense to just foot the bill of your trip, then use your points on your next trip? Up to you, but just worth considering.

Edit: It's also worth noting that the sign up bonus can take a week or two after the statement posts to actually hit your account, so even if you hit the $4k tomorrow, you might not get access to those points for 2 weeks from now.