The Capital One Venture Card Review – What You Need To Know

The Capital One Venture Card Review – What You Need To Know
Amy Fontinelle
on May 11, 2018
Read in 1 min

Do you like to travel but hate paying for it?

The Capital One Venture Rewards credit card could offer some relief.

It rewards users with 2 miles per dollar on every purchase and kick-starts your rewards balance with 50,000 bonus miles after you spend $3,000 within 3 months of opening your account. You’ll also earn 10 miles per dollar spent at certain hotels.

The big advantage this card offers over other miles credit cards is that you can book any type of travel through any company you want, whenever you want.

You aren’t tied to a certain airline or hotel chain.

Miles are redeemable as statement credits against travel purchases— even Uber rides and Airbnb stays — made with your card.

You can also pay for your purchase up front using miles through the Capital One Rewards Center, online or by phone.

Should you end up traveling less than expected, you can redeem your miles for cash, account credits, or gift cards.

Points retain their full value when you redeem them for gift cards, but halve when you redeem them for non-travel-related account credits or cash.

How Many Venture Card Reward Miles Will You Earn?

Capital One provides a handy online calculator showing how many miles you could earn per year based on your monthly spending.

Charge $1,000 to your card per month and you’ll earn 24,000 miles per year, which amounts to significant travel savings.

Miles are worth 1 cent and never expire while your account is open.

So 24,000 miles are worth $240, and that 50,000 mile sign-up bonus is worth $500 — one of the higher bonuses available in 2018.

What Are the Capital One Venture Card’s Interest Rates and Fees?

This card has no annual fee the first year — a nice savings — and a $95 annual fee thereafter.

If you spend at least $1,056 per month, you’ll more than make up for the annual fee in future years; if not, you might prefer the no-annual-fee VentureOne card, which has a smaller sign-up bonus and lower ongoing rewards.

The APR on this card is 14.49%, 20.99%, or 24.49% variable based on the prime rate. The better your credit, the lower your APR.

The cash advance APR is 24.49% variable, and the cash advance fee is 3% or $10, whichever is greater.

The late payment fee is $38. Paying late won’t increase your APR, however.

There are no foreign transaction fees.

Who Should Apply?

Like other rewards credit cards with large sign-up bonuses, the Venture card is geared toward consumers with excellent credit.

To meet Capital One’s guidelines, you’ll need to have never declared bankruptcy or defaulted on a loan; not been more than 60 days late on any credit card, loan, or medical bill payment in the last year; and have had a loan or credit card with a limit above $5,000 for three years or more.

Given its redemption flexibility, we think the Capital One Venture Card is one of the best travel rewards credit cards of 2018.

Amy Fontinelle Finance Journalist

Amy Fontinelle is a writer, editor, and personal finance expert.

Her articles have appeared at Investopedia, Bankrate, MassMutual.com, The Simple Dollar, Interest.com, Yahoo, Forbes.com, SFGate.com, Bankaholic, Mortgage-Calc.com, Saving Advice and other sites.

Amy’s clients include personal finance websites, financial institutions, public policy organizations, academic journals, and professional economists.

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