The Capital One VentureOne Rewards Credit Card is a good option if you want to earn miles for your infrequent travel but don’t want to pay an annual fee.
Since its larger brother, the Capital One Venture Rewards Credit Card, has a national ad campaign, the Capital One VentureOne Rewards Credit Card doesn’t attract much attention.
For those who can’t afford to pay the annual fee, the Capital One VentureOne Rewards Credit Card may be an attractive option. Prior to applying, it’s a good idea to have a closer look at this card’s features.
To help you determine if the Capital One VentureOne Rewards Credit Card is the right choice for you, this review is here.
Who is a good candidate for the Capital One VentureOne Rewards Card?
The Capital One VentureOne Rewards Credit Card offers a number of appealing features for frequent fliers, even though it’s not a frequent flyer program. Both infrequent travelers and frequent fliers may like the card’s straightforward rewards program, which offers 5X Capital One Miles on hotels and rental cars booked via Capital One Travel and 1.25X points on all other transactions.
While there is a sizable benefit for booking travel via Capital One’s website, your everyday purchases will not receive the best rate available, so keep that in mind. However, it is not entirely ungenerous — especially given the absence of an annual charge.
If you’re planning a large purchase or have a debt to repay, the card also offers a 0% intro APR on purchases for the first 15 months (then 14.99 percent to 24.99 percent (variable)), as well as a 0% intro APR on balance transfers for the first 15 months (then 14.99 percent to 24.99 percent (variable)), allowing you to pay it off over time.
This might be a low-cost solution to finance a large expense, provided the debt is paid off before the intro APR ends.
It’s also worth noting that this card is available in two flavors: Visa Platinum and Visa Signature.
Your creditworthiness will almost certainly play a role in determining which version you are accepted for.
Though both are identical, the Visa Signature version has a few additional perks. Generally, approval for the Visa Signature card requires a high credit score.
Benefits and Perks
- Earn 20,000 extra miles after spending $500 during the first three months. There is no yearly charge. Spend and earn as you choose without incurring any fees.
- There are no associated foreign transaction fees, so you can freely make travel purchases abroad.
- Simple ways to earn miles on every purchase. Earn 5 miles for every dollar spent on hotels and rental vehicles booked via Capital One Travel (where you will be able to get Capital One’s best prices), and 1.25 miles for every dollar spent on all other purchases.
- Purchases. The lengthy introductory APR period provides you time to pay off large purchases without incurring interest.
- Debt transfers with introductory APR. You can transfer your balance from a high-interest credit card and attempt to pay it off without incurring interest.
- There are no international transaction fees. If you have to pay a charge for every purchase made overseas, it’s hardly much of a travel credit card. You do not have this card.
- Redeemable for flexible travel. It is entirely up to you how and where you fly and stay, as Venture miles are not connected to any one airline or hotel. Additionally, you may transfer your miles to one of Capital One’s airline or hotel partners to help defray the cost of travel.
- Collision damage waiver for rental cars. When you charge your next qualified car rental to your Capital One VentureOne Rewards Credit Card, you’ll receive secondary coverage for damage caused by an accident or theft.
- Insurance against travel-related accidents. Cardholders of the VentureOne’s Visa Signature edition receive complimentary travel accident insurance when they use their card to plan travel.
- Earning rate is somewhat lower. The Capital One VentureOne Rewards Credit Card earns at a little lower rate than the Capital One Venture Rewards Credit Card. Venture cardholders receive 5 miles per dollar spent on hotels and rental cars booked via Capital One Travel, and 2 miles per dollar spent on all other transactions.
Potential Earnings in Years One and Two
With the Capital One VentureOne Rewards Card, here’s a glimpse at how your miles stack up. We utilized a 1.7-cent point valuation to arrive at these numbers.
Keep in mind that this is only a guess. The true worth will be decided by how much money you spend and how much money you spend in different categories.
- Earnings in the first year: $1,052.
- Annual salary in the second year: $712
Best Ways to Earn
If you’re searching for a simple rewards credit card that doesn’t charge an annual fee, the Capital One VentureOne Rewards Credit Card is an excellent option. Instead of managing numerous credit cards to maximize your benefits, you may just use one card for all of your purchases.
When you book hotels and rental cars via Capital One Travel with the VentureOne card, you get 5X the miles, and you get 1.25X the miles on everything else. The points you earn never expire.
Maximizing Your Redemptions
There is a wide range of redemption rates, from as little as 0.5 cents to as much as 1.7 cents, depending on how you plan to use your miles.
You get a flat one cent per mile, flexible redemptions, and no ban periods when you book travel via Capital One Travel.
Using your miles to purchase statement credits, cashback, or gift cards are all choices, but the value of these redemptions may be lower than the value of actual travel.
You could gain 1.5 partner miles for every two of your miles you transfer to an airline partner, but this varies by airline, with some giving lower or greater transfer rates.
If you would like to learn more about maximizing credit card rewards through a rewards program, we suggest you read our previous articles, such as how to maximize your Chase Ultimate Rewards earnings, or United Miles, among others.
The Capital One VentureOne Rewards card is great for those that frequently travel, and are often making travel purchases. It is also a good card, even if you don’t find yourself traveling often.
With the Capital One Venture card, you can earn and redeem miles easily with a 0% APR sign up bonus for the first 15 months. There is no annual fee for having and using this credit card. Additionally, there are no foreign transaction fees made on any travel purchases abroad.
You will earn 5x bonus miles for all transactions made through the Capital One Travel portal, and 1.5x bonus miles on all other purchases. You can also choose to transfer Capital One miles to about a dozen or so airline loyalty programs that are in the partner program.
You will also get a one-time bonus of earning an extra 20,000 miles, after spending $500 during the first three months of having your Capital One credit card.
There are a number of redemption options when you earn Capital One miles, such as using your Capital One miles for cash back, either with a check or statement credit.
You will, however, need a Good to Excellent credit score on your credit report in order to qualify for the Capital One VentureOne credit card, as this credit card issuer does not give the VentureOne credit card to those with a low credit score, or negative credit report.
Overall, if you’re looking for a credit card to make a travel purchase and earn miles while doing so, the Capital One Venture rewards credit card is a pretty solid choice, if you’re eligible to get one.