Capital One Venture Rewards Credit Card
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Recommended Credit Score
Good to Excellent
(670 - 850)
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Best for flexible travel rewards
- Annual Fee:
- $95
- Purchase Intro APR:
- N/A
- Balance Transfer Intro APR:
- N/A
- Regular APR:
- 17.24% - 24.49% (Variable)
Bankrate Rating
Capital One Venture Rewards Credit Card: Details and benefits
Considering this card comes with a low $95 annual fee, its potential benefits are more than worth the cost. The Capital One Venture offers an unlimited 2X miles per dollar on any purchase. Earn 100,000 bonus miles when you spend $20,000 on purchases in the first 12 months from account opening, or still earn 50,000 miles if you spend $3,000 on purchases in the first 3 months.
Redeeming your Venture card’s miles is easy. You can transfer them to one of Capital One’s travel partners, book through Capital One’s portal and redeem your miles in the form of a statement credit for any travel purchases made within 90 days. Travel purchases are defined relatively broadly and include everything from flights and hotels to rideshare services and Airbnb.
Advantages
- Earn 100,000 bonus miles when you spend $20,000 on purchases in the first 12 months from account opening, or still earn 50,000 miles if you spend $3,000 on purchases in the first 3 months
- Unlimited 2X mile rewards on every dollar spent
- Flexible, easy-to-use rewards redemptions
- No foreign transaction fees
Disadvantages
- You must redeem statement credits within 90 days of your travel purchase
- $95 annual fee
- Lack of luxury perks found on some other premium travel cards
Is the Capital One Venture Rewards Credit Card worth it for you?
If you like the simplicity of unlimited flat cash back cards, but you’re looking for better redemptions on travel, this is the right card for you. If you’re not a frequent traveler, there are likely better cards on the market to suit your needs.
You don’t need to pair this card with another to enjoy its full value, but it is best for those who travel most by air, rather than drivers. Not only do Capital One’s travel partners currently include airlines like JetBlue, Air France and KLM, but the card comes with other air travel perks, like Global Entry or TSA PreCheck credits up to $100, travel accident insurance and no foreign transaction fees.
Luxury travelers may enjoy perks like airport lounge access and concierge services found on more premium travel cards like the Chase Sapphire Reserve or The Platinum Card® from American Express. If you’re looking for a simple travel card with easy and unrestricted redemptions, though, it’s difficult to top the Venture.
Get the most value from the Capital One Venture Rewards Credit Card
The Venture card rewards unlimited 2X miles on all purchases, so there’s no specific category you should focus on. Instead, treat it like a cash back card and use it for your everyday spending and all of your travel purchases so you can redeem your miles as you go.
Since you’re not limited to Capital One’s travel partners, look for deals on discount travel sites through Capital One’s portal before booking so you can save money and redeem fewer miles per trip.
In addition to card-specific rewards, you can gain even more value from Capital One perks like pre-sale access to entertainment and sporting events, exclusive access to dining experiences and premium travel upgrades.
How much are the Capital One Venture Rewards Credit Card rewards worth?
You’ll earn 2X miles for every dollar spent with the Venture card, which can be redeemed at a rate of 2 Capital One miles per 1.5 partner miles (with exceptions) with transfer partners or 1 cent per mile on travel purchases.
If you spend $20,000 per year on the card, that’s equal to 40,000 miles. Plus you’ll earn 100,000 bonus miles when you spend $20,000 on purchases in the first 12 months from account opening, or still earn 50,000 miles if you spend $3,000 on purchases in the first 3 months.
How to redeem rewards
As of late 2018, Capital One allows Venture cardholders to transfer their miles to one of many airline partners at a rate of 2:1.5 (the rate is just 2:1 on Emirates Skywards and Singapore KrisFlyer). The value of these transferred miles varies by airline and by flights, so you may want to compare the value of all redemption options before booking.
If you were to redeem 90,000 miles through Capital One’s portal at a value of 1 cent per mile, you could earn $900 back your first year of card ownership. Often booking travel directly using either of these methods can be most valuable.
You can also redeem miles for gift cards at the same value through Capital One. Avoid redeeming your miles for cash back on non-travel purchases, though, because their value will drop by 50 percent. Those 90,000 miles would then be worth only $450 in redemption value.
Read Bankrate’s Guide to Capital One Miles for a closer look at redeeming your miles wisely.