Capital One VentureOne Rewards Credit Card review
Best for no annual fee travel rewards
- Rewards Rate: 1.25x miles on all purchases
- Welcome Offer: 20,000 bonus miles if you spend $500 within the first three months
- Annual Fee: $0
- Purchase Intro APR: 0 percent for the first 12 months
- Balance Transfer Intro APR: N/A
- Regular APR: 15.49 percent to 25.49 percent variable
If you’re looking for a low-cost travel rewards card, the Capital One VentureOne Rewards Credit Card may be the right fit for you. You’ll earn miles on all of your purchases and get the opportunity to boost your first-year earnings with a generous sign-up bonus. It also comes with a lineup of Capital One benefits and an intro APR on purchases for the first year.
Current welcome offer
When you sign up for the Capital One VentureOne card, you can earn a 20,000-mile bonus if you spend $500 within the first three months of opening your account. You would ordinarily need to spend $16,000 to earn 20,000 miles with the card, so this is a great way to jump-start your miles collection.
The VentureOne Rewards card offers kickbacks in the form of miles every time you spend, making it a great low-hassle travel rewards option.
You can earn 1.25x miles for every dollar you spend, regardless of where you shop, with no limit to how many miles you can earn. Additionally, you can earn 5X miles on hotel rooms and rental cars through Capital One Travel. The card also carries a limited-time promotion that gets you 5X miles on qualifying purchases with Uber Eats through January 31, 2021.
You can book hotels, flights and rental cars using your Capital One miles by logging into to capitalone.com and visiting the reward center. You can also use your card to book travel reservations through another service or website and then redeem your miles for a statement credit to cover the purchase within 90 days. Only purchases that fall under the travel merchant code will qualify, but generally, it includes airlines, hotels, rental cars, cruises, limo services, timeshares and more.
If you don’t want to redeem your miles for travel, you can also cash them out in the form of a statement credit, check, gift cards, Amazon purchases and more. Or, if you have an external travel loyalty program that partners with Capital One, you can transfer your miles to that account.
How much are miles worth?
Capital One’s miles have a redemption value of one cent per mile, so if you want to book a flight that costs $600, you would need 60,000 miles. The redemption value is typically lower when redeeming miles for cash and can vary when transferring them to other programs.
When it comes to benefits, Capital One doesn’t skimp. Here’s what you can expect with the VentureOne.
Travel and shopping services
As a card designed with travel in mind, you will get 24-hour travel assistance services which can help you get cash if your card is lost or stolen. Additionally, you get auto rental insurance when you rent a car with your card and fraud coverage
If you enjoy concerts, music festivals, sporting events or culinary experiences, Capital One can help you learn about upcoming events, book presale tickets and purchase all-access VIP passes.
You can keep close tabs on this card with real-time security alerts, virtual card numbers to keep your actual credit card number hidden, credit report alerts through CreditWise® and a card lock feature found in the Capital One mobile app.
Rates and fees
When it comes to rates and fees, the VentureOne stands up pretty well. There is no annual fee, no foreign transaction fees and a 0 percent intro APR on purchases for 12 months after opening your account (then 15.49 percent to 25.49 percent variable).
Cash advances will come with a $10 or 3 percent fee, whichever is greater, and a 25.49 percent variable APR, so it’s best to pay them off quickly. If you want to transfer a balance, you’re going to pay 3 percent of the amount you transfer along with an APR from 15.49 percent to 25.49 percent variable. Late payments will cost you up to $40 per occurrence, which is pretty standard.
Many wonder what Capital One VentureOne credit limit they can expect. While Capital One doesn’t disclose a specific amount, multiple sources report credit lines from $2,000 up.
How the Capital One VentureOne Rewards Credit Card compares to other travel rewards cards
How does the VentureOne stack up to other travel rewards cards? Here’s a look at how it compares to another no annual fee option, the Discover it® Miles Credit Card, along with the Capital One Venture Rewards Credit Card.
The Discover it Miles card is very similar with no annual fee, no foreign transaction fees and a 0 percent intro APR on purchases for 14 months after account opening (then 11.99 percent to 22.99 percent variable APR). If you don’t mind waiting for your bonus (Discover matches all the miles you earn in the first year), this has a few advantages over the VentureOne, including a lower APR range, a higher rewards rate of 1.5X miles and a longer intro APR period.
When looking at the Capital One Venture Rewards Credit Card versus the VentureOne, the Venture is similar in terms of benefits and redemption options. However, it comes with a $95 annual fee in exchange for 2x miles per dollar on all purchases. Additionally, you can earn a 100,000 welcome bonus when you spend $20,000 in the first year you open your account. Even if you don’t meet that spending requirement, you can still earn 50,000 miles if you spend $3,000 in the first three months.
Best cards to pair with Capital One VentureOne Rewards Credit Card
The Capital One Venture One focuses on travel benefits and rewards, so a good card to keep in your wallet alongside it is one that rewards you in cash back. For example, the Chase Freedom Unlimited® is a no annual fee card that lets you earn 5 percent back on travel booked through the Chase Ultimate Rewards portal, 3 percent on dining, 3 percent on drugstore purchases and 1.5 percent on all other purchases.
Bankrate’s Take — Is Capital One VentureOne Rewards Credit Card worth it?
The Capital One VentureOne Rewards credit card may be the right fit for you if you are looking for a low-cost card to help you rack up a modest amount of miles. You don’t have to invest anything to start earning 1.25X miles on every dollar you spend, and you can get a sizable welcome bonus. However, if you want to spend more to earn more, and if you have good credit, a higher-tier Capital One card or another one of the top travel rewards cards can potentially offer a higher value.
- Flexible redemption options
- Good welcome bonus
- Intro purchase APR
- No annual fee
- Comprehensive benefits
- Low rewards rate
- No intro APR on balance transfers
- Higher APR range