Capital One® VentureOne® Credit Card Review: Solid Travel Rewards and 0% Intro APR
Capital One® VentureOne®
The Capital One Venture One Credit Card is worth considering if you travel occasionally and don’t want to be tied to one specific airline or hotel chain. It offers solid perks, including travel accident insurance and no foreign transaction fees. If you travel often, there are more lucrative credit cards out there, but the Capital One Venture One card is certainly worth a look.
Capital One® VentureOne® Credit Card Quick Review
Here’s a quick look at the Capital One Venture One Credit Card:
Annual Fee: $0
APR: 0% APR 12 months, then 13.74% to 23.74%
Sign-Up Bonus: 20,000 miles after you spend $1,000 in the first three months after account opening
- 10 miles per dollar spent on Hotels.com
- Unlimited 1.25 miles per dollar on every purchase
- Book travel how you want, with no blackout dates
- Transfer miles to more than 10 partner rewards programs
- No foreign transaction fees
- Travel accident insurance
- Rental car coverage
- Extended warranty
- 3% balance transfer fee
- $10 or 3% cash advance fee, whichever is greater
- Up to $38 late payment fee
Why Apply for the Capital One® VentureOne® Credit Card
Here are the key reasons travelers may want to consider adding the Capital One Venture One Credit Card to their wallet:
It earns rewards at an above-average rate
Most credit cards offer just 1 mile per dollar on most purchases, but the Capital One® VentureOne® Credit card offers 1.25 mile per dollar, so you can earn rewards faster. And the next time you book a hotel, be sure to do it through Hotels.com. When you use your Capital One Venture One card, you’ll receive an unprecedented 10 miles per dollar.
Book travel your way
You’re free to cash in your rewards miles for travel through any company without having to work around blackout dates. Capital One will reimburse you for your travel purchases in the form of a statement credit once you’ve accumulated enough rewards miles. You can also transfer your miles to more than 10 partner travel programs.
Earn 20,000 miles as a signup bonus
Capital One rewards all new Venture One cardholders with 20,000 miles if they spend $1,000 or more within the first three months of account opening. Each point is worth about $0.01, so these 20,000 miles are worth $200 toward your next trip.
The card protects you and your belongings
The Capital One Venture One includes travel accident insurance and rental car coverage to ensure you’re protected against accidents while you’re away from home. The card also offers extended warranty protection on all eligible purchases. If the item breaks shortly outside of the standard warranty period, Capital One will pay to replace the item.
Capital One® VentureOne® Credit Card: Drawbacks and Downsides
Before you sign up for the Capital One Venture One Credit Card, you should be aware of its shortcomings:
You can’t redeem rewards for cash back
The Capital One Venture One Credit Card offers rewards miles instead of points, and you can only redeem these miles for travel-related expenses, like flights and hotels. If you don’t travel often, you may not have much use for these rewards. In that case, you’re better off going with a cash-back rewards credit card instead.
You won’t get any airline-specific perks
One of the advantages of going with a general travel rewards card like the Capital One Venture One Rewards Credit Card is that you don’t have to deal with blackout dates, and aren’t limited to availability on a specific airline. But this also means you miss out on perks offered by airline-specific cards, like priority boarding and free checked bags.
Capital One® VentureOne® Credit Card Alternatives
Consider one of these cards if the Capital One Venture One Credit Card isn’t the right fit for you.
Capital One Venture Credit Card
The Capital One Venture Credit Card is similar to the Capital One Venture One Credit Card, but they differ in a few key was. First, you’ll earn unlimited 2 miles per dollar on the Venture card, as opposed to 1.25 miles per dollar on the Venture One. Second, you can earn 50,000 bonus miles instead of 20,000 miles, but you have to spend $3,000 within the first three months of account opening to trigger the bonus.
The Capital One Venture Credit Card charges an annual fee of $95 after the first year, so it’s only a good value if you believe you’ll earn enough in rewards to make up for that fee. This card also isn’t a great option for balance transfers, as it doesn’t offer a 0% APR period and its standard APR rate is higher than the Capital One Venture One Credit Card.
Chase Sapphire Reserve Card
The Chase Sapphire Reserve Card is a more lucrative option if you travel often. It offers 3 points per dollar on travel and dining, plus 1 point per dollar on everything else. You’ll also receive a $300 travel credit each year, plus a credit for TSA PreCheck or Global Entry membership. You can redeem your points through Chase’s travel portal, or transfer them at a 1:1 rate to one of about a dozen travel loyalty programs, like British Airways or United MileagePlus.
The biggest drawback to the Chase Sapphire Reserve card is its $450 annual fee. If you don’t travel often, or you limit how much you charge to your credit cards, you may not earn enough in rewards to justify paying the annual fee. But if you spend at least $300 per year on travel—that includes taxis, Uber and any plane tickets—you’re effectively paying $150 after factoring in that travel credit.
Capital One® VentureOne® Credit Card FAQs
Here are the answers to some of the most commonly asked questions about the Capital One Venture One Credit Card:
What are Capital One Venture Miles worth?
Each Capital One Venture mile is worth $0.01. So if you want to use your points for a $500 travel expense, you will have to save up 50,000 Capital One Venture Miles.
How do you redeem Capital One Venture Miles?
When you’re ready to redeem your rewards, log in to your Capital One Venture One Credit Card account. If you want credit for travel purchases you’ve already made, go back through your statement and select those purchases. You can also book new travel through the online account or by transferring your points to one of Capital One’s partner programs.
Bottom Line: Should You Apply for the Capital One® VentureOne® Credit Card?
There are better options out there if you travel often, but the Capital One Venture One Credit Card is a smart choice for flexible travel rewards without an annual fee. While it doesn’t earn cash back rewards, it’s still a solid option considering its rewards-earning rate, redemption options, and lack of annual and foreign transaction fees.