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 upfront 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.
The Capital One Venture One Rewards credit card is one of the most well-received cards on the market and is considered one of the best to own if you’re a frequent traveler.
In this 2019 review, we’ll go over the fine details of the credit card and see if it has the kinds of rewards, savings, and offerings you need.
What is the Capital One VentureOne Rewards credit card?
The VentureOne card from Capital One is the bank’s travel credit card, great for frequent flyers and mid-to-high spenders.
Because it does have an annual fee starting in year two, you’ll want to use it often to get the most out of it.
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 2019.
What you need to know about the car
Here are the nuts and bolts of the card you should know before you sign up:
- Regular APR: 14.49% – 24.49% (variable)
- Annual fee: $0 for the first year and $95 per year after that
- Max late fee: $38
- A one-time bonus of 50,000 miles once you spend $3,000 on purchases within three months from account opening (equal to $500 in travel)
- Miles are worth 1 cent apiece when redeemed for travel
- 10 miles per dollar on hotels when you pay with your Venture card at hotels.com/venture
- 2X miles per dollar on every purchase
- No miles expiration and no limit on how many you can earn
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 makeup 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.
The pros of the Venture Rewards card
If you stack it up vs. other leading travel cards, the Venture Rewards card is near the top of the class, if not the leader.
Experts cite the fact that rewards for the Venture Rewards card are redeemed as statement credits for travel purchases, rather than being limited to a specific hotel or airline.
The high sign-up bonus, ease of redemption across most forms of travel expenses, and no annual fee for the first year put it over the top
It also has no foreign transaction fees—another plus for travelers.
Finally, the card is chip-enabled and secure, and just feels good to carry—it’ll be by far the heaviest card in your wallet.
The cons of the Venture Rewards card
If you’re looking to get cash-back rewards from this card, you’re in the wrong place.
It’s best used as a travel redemption card.
You can’t transfer your miles to another partner, or take advantage of any other typical card loopholes that savvy card owners like to use to multiply their earnings.
Finally, you do need to be aware of the annual fee, which kicks in at $95 now starting in year two.
That fee was raised to stay competitive with other cards.
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 2019.
Capital One Venture One Card: The Bottom Line
If you’re a frequent flier, hotel occupant, or traveler in general, it’s hard to beat the myriad benefits and rewards of the Capital One Venture Rewards credit card.
The only reason to look elsewhere is if you’re not interested in redeeming your travel purchases or you want to avoid an annual fee at all costs.