Capital One® Venture® Rewards Credit Card

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Flexible redemptions, no cap on rewards and no annual fee for the first year? Yes, please.

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Put simply, the Capital One Venture Rewards Credit Card is one of the best travel rewards credit cards on the market today. It’s made better by its modest annual fee, which the issuer will waive during the first year of card ownership.

This is a good card for you if you’re a frequent traveler, but not necessarily a road warrior (there are other cards that are better for this group).

Review

If you’re looking at a travel rewards credit card and it doesn’t come with a generous sign-up bonus, look elsewhere. The Capital One Venture just announced a huge limited time offer for new cardholders who apply through the Capital One website or The Points Guy. The new offer allows cardholders to earn a 75,000-mile bonus after spending $5,000 in the first three months of account opening. Capital One is also forming new partnerships with multiple airline travel loyalty programs. Coming soon, cardholders will be able to transfer miles at favorable rates to their favorite airline, which makes your miles go further.

But the plusses don’t stop there, as cardholders will earn 2 miles for every dollar spent on anything. And redemption is a snap as there are no blackout dates or restrictions; miles can be redeemed for any travel expense.

The issuer recently boosted the annual fee from $59 to $95 (waived the first year), but also increased the sign-up bonus. Even with the increased annual fee, this card has tremendous value.

Who should get this card

The Capital One Venture rewards card is a great addition to any frequent traveler’s credit card collection. At a rate of 2 rewards points for every dollar spent — with no cap on earnings, this card could be a good choice for earning travel rewards.

Advantages
  • There’s a sizeable limited time bonus of 75,000 miles after you spend $5,000 within the first three months of card ownership. (Available of the Capital One website and through The Points Guy).
  • Unlimited travel rewards at 2 miles-per-dollar never expire. Every 100 miles can be redeemed for $1 worth of rewards.
  • Rewards are flexible and can be redeemed at any airline, hotel or rental car.
  • Rewards can be redeemed on discount travel sites.
  • There are no foreign transaction fees — a must for any good travel card.
Disadvantages
  • You have to make your travel purchase first and then redeem your rewards as a credit on your statement. Some other rewards programs allow you to use your rewards directly to make the purchase.
  • The mileage credits have to be redeemed within 90 days of making your travel purchase.
  • There are other rewards cards without any annual fees.

Fees and APR

  • The annual fee is $95, waived the first year.
  • This card carries no foreign transaction fee, a must for any cardholder who plans to travel overseas.
  • The annual percentage rate is 14.74% to 24.74% Variable

How to use points and get perks

Redeeming your reward miles is simple and doesn’t cost a thing. If you book your travel through Capital One, you can redeem miles automatically.  Otherwise, a travel credit can be earned by using the “Purchase Eraser” to reward travel expenses made outside of the Capital One portal.

If you enjoy the VIP treatment, this card has your leisure time covered.  You can qualify for premium travel upgrades and trip packages– cardholders get pre-sale offers to major sporting and entertainment events, and exclusive offers to tickets to Capital One sponsored dining experiences.

For peace of mind, Capital One offers travel accident insurance and auto rental collision insurance during your trip, and fraud protection and mobile security alerts just in case anything threatens to ruin your vacation.

How this card compares

Capital One® Quicksilver® Cash Rewards Credit Card
  • One-time $150 cash bonus after you spend $500 on purchases within 3 months from account opening
  • Earn unlimited 1.5% cash back on every purchase, every day
  • No rotating categories or sign-ups needed to earn cash rewards; plus, cash back won't expire for the life of the account and there's no limit to how much you can earn
  • 0% intro APR on purchases for 15 months; 14.74%-24.74% variable APR after that
  • 0% intro APR on balance transfers for 15 months; 14.74%-24.74% variable APR after that; 3% fee on the amounts transferred within the first 15 months
  • Pay no annual fee or foreign transaction fees
Credit Needed

Excellent, Good

Regular APR

14.74% - 24.74% (Variable)

Annual Fee

$0

Purchase Intro APR

0% intro on purchases for 15 months

Balance Transfers Intro APR

0% intro on balance transfers for 15 months

The Capital One Quicksilver Cash Rewards Credit Card is a very simple rewards structure that leaves out all the guesswork.  Unlimited 1.5% cash back on every purchase plus no annual fee makes it a great option for everyday spending. If you like flexibility with your rewards, this option may be the one for you.

Barclaycard Arrival® Plus World Elite Mastercard®
  • Limited Time Offer: Enjoy 70,000 bonus miles after spending $5,000 on purchases in the first 90 days
  • Earn unlimited 2X miles on every purchase
  • Book travel your way—no airline, seat or hotel restrictions—and redeem your miles for travel statement credits
  • Get 5% miles back to use toward your next redemption, every time you redeem
  • No foreign transaction fees
  • International Chip and PIN for use at self-service chip terminals around the world
  • Miles don't expire as long as your account is open, active and in good standing
Credit Needed

Good/Excellent

Regular APR

17.99%, 21.99% or 24.99% variable based on your creditworthiness

Annual Fee

$89 (waived first year)

Purchase Intro APR

N/A

Balance Transfers Intro APR

0% intro for first 12 billing cycles following each BT that posts within 45 days of account opening

The Barclaycard Arrival Plus World Elite Mastercard offers 2X miles on every purchase, allowing you to rack up miles quickly.  The annual fee runs a bit cheaper than the Capital One Venture (though both cards waive this fee for the first year), and your introductory bonus gives you 10,000 more points, but you’ll miss out on the 10X miles on hotel stays.

EDITORIAL NOTE

Opinions expressed here are author's alone, not those of any bank, credit card issuer, airlines, or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.