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Capital One has launched a  Double Miles Challenge for the Capital One Venture Card. Similar to last years Match My Miles offer, this offer is a challenge for people to apply and be approved for the Venture Card before the challenge period ends, submit a 2011 Year-end summary from a competing travel credit card and spend $1,000 within 90 days of approval. Capital One will then match and double your 2011 spending from a competing card up to $50,000 which translates to an up to 100,000 mile bonus for this Venture card. The promotion ends when either Capital One awards 1 Billion miles or on May 1st, 2012, whichever comes first.

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