After seeing success with last year’s “Match My Miles” promo, Capital One has brought back another potential 100,000 point sign up bonus for its Venture Card. Under this year’s promo, called the Venture Double Miles Challenge, your bonus will be limited to double the amount you spent on a single competitor’s consumer travel credit card (Visa, MasterCard, American Express, or Discover) up to a maximum bonus of 100,000 miles per account.

That means in order to max your bonus, you must have spent $50,000 last year on a single travel credit card. Small business cards, debit cards, fleet cards, private label credit cards, corporate cards, prepaid cards and Cap One credit cards are not eligible.

Note: If you participated in the 2011 “Match My Miles Challenge,” you are not eligible for this Double Miles Challenge program.

Assuming you are eligible, to take advantage of the promo, you’ll need to do the following:

1. Apply and be approved for a Venture card before the promo ends. (This promo ends on May 1, 2012 or when one billion miles have been given away, whichever comes first.)
2. Submit proof of last year’s spend on your travel credit card with a 2011 year-end summary of the account
3. Spend at least $1,000 within 3 months

Your bonus miles will be rewarded once you successfully register for the promotion and are earned once you provide the requested documentation and reach your minimum purchase requirement. Miles will then be awarded within 2 billing cycles of when they are earned.

Venture miles can be redeemed for any flight and just as importantly, you will earn miles on flights booked with Venture miles. Each Venture mile can be redeemed towards 1 cent in travel, so 100,000 Venture miles is equivalent to $1,000 towards travel.

The card carries a $59 annual fee, which is waived for the first year. For more info on this year’s promo, see www.capitaloneventure.com.