Gabe Douek

Editorial Disclosure: The editorial content on this page is not provided by any of the companies mentioned, and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are the author’s alone.

Capital One Venture: Quick Facts

  • $500 in bonus travel credit if you spend $3,000 on purchases within 3 months of the account opening
  • 2x miles on all purchases
  • 10x miles on hotels
  • No limit on the number of miles you can earn
  • Miles don’t expire as long as the account is open
  • No foreign transaction fees
  • Several partners for mile transfers
  • $0 annual fee for the first year, $95 fee after

Pros & Cons

Pros:

  • Generous sign-up bonus
  • High rewards rate
  • No foreign transaction fee
  • Many reward redemption options

Cons:

  • Annual fee of $95 after first year
  • Need good to excellent credit for approval
  • Poor cash back redemption
  • No introductory APR offer

Full Review

The Capital One Venture Rewards Credit Card brings a lot to the table as a travel card. The card offers a generous sign-up bonus and rewards benefits for those who have a credit score high enough to gain approval.

Earning rewards is rather easy when it comes to the Capital One Venture Rewards Credit Card, as regular purchases earn 2 miles per $1 spent and hotel purchases earn 10 miles for every $1 spent. These rewards can go a long way for travelers who frequent hotels. 

In addition to great rewards, the Capital One Venture Rewards Credit Card has several redemption options when it comes to cashing in those miles. However, cardholders should use caution. Using rewards miles on travel will give you a far greater return on your investment than regular cash back. 

Other bonuses to this card include no limits on the rewards you can earn and no foreign transaction fees. The Capital One Venture Rewards Credit Card does charge a $95 annual fee after the first year, so you’ll need to make sure your potential points earnings outweigh the fees.

Capital One Venture: Basics and benefits 

The Capital One Venture Rewards Credit Card is an easy-to-use credit option with a high rewards rate. As mentioned above, regular purchases earn 2 miles for every $1 spent and hotel purchases earn 10 miles for every $1 spent. For a certain type of traveler, these rewards could far outweigh the $95 annual fee after the first year.

In order to be approved for the Capital One Venture Rewards Credit Card, applicants need a credit score of 700 or higher. Once approved, cardholders should be aware there is no introductory 0% APR period. For purchases and transfers,  APR is 15.24%, 21.74%, or 25.24% based on cardholder creditworthiness. For cash advances, APR is 25.24%. The card does offer a generous sign-up bonus of 50,000 extra miles if cardholders spend $3,000 on purchases within the first three months of the account being open. Those extra miles translate to about $500 in travel credit. However, you’ll need to make sure you’re ready to pay off that balance; remember, there’s no introductory 0% APR. 

The Capital One Venture Rewards Credit Card really shines when it comes to reward redemption flexibility. This card is ideal for someone who wants to earn travel rewards for their spending but hasn’t quite committed to one specific airline or hotel chain

When redeemed for travel, points are worth 1 cent per mile. This is a typical ratio among other frequent flyer programs. Cardholders can use Capital One’s travel center to find purchase information on flights, hotels, rental cars, and all-inclusive vacation packages. All of these tickets can be purchased through the center with your miles. Cardholders can also use their miles by taking advantage of the Capital One Purchase Eraser. First, you’ll need to make a travel-rated purchase on the Capital One Venture Rewards Credit Card. Then, users have 90 days to “erase” the cost of the purchase with their miles for a statement credit. This is an amazingly simple tool for users who want to make travel purchases however they see fit and reimburse the cost with reward miles.

The Capital One Venture Rewards Credit Card doesn’t charge foreign transaction fees, which makes it the perfect companion when spending internationally. The card does come with an annual fee of $95, with the first year’s fee waived. Though the annual fee can be a drag, the right spender can easily offset this fee by utilizing rewards as much as possible throughout the year.

All things considered, the Capital One Venture Rewards Credit Card is a great travel card option that makes rewards not only easy to rack up but easy to redeem as well. This is the perfect credit card opportunity for someone who wants to earn a flat rate on all purchases and redeem their reward miles on whatever travel their heart desires.

Capital One Venture: Pitfalls and other possibilities 

If you’re looking for generous cash back rewards, this is not the credit card for you. The Capital One Venture Credit Card‘s rewards shine only when it comes to travel credits. If cardholders use their miles for cash back or statement credit, the value of those miles is cut in half. Ouch. Therefore, infrequent travelers should steer clear of the Capital One Venture Rewards Credit Card and find another card option that prioritizes cash back.

Before applying for the Capital One Venture Rewards Credit Card, you’ll want to take a close look at your spending habits. While the $95 annual fee following the first year isn’t outrageous, it can add up for cardholders who don’t utilize rewards fully. In addition, it may be difficult to take advantage of the sign-up bonus if you aren’t willing to charge $1,000 each month in the first three months of the account being open. Basically, if you don’t plan on spending a lot with the Capital One Venture Rewards Credit Card, seek a different credit option with a lower annual fee or no annual fee at all — and a better sign-up bonus.

Finally, if you consider yourself a strategic spender, the Capital One Venture Rewards Credit Card may be a bore. This is because the card offers straightforward, 2x miles on all purchases. The only way cardholders can earn a higher miles multiplier is by using the card on hotel purchases. While the miles multiplier offered by the Capital One Venture Rewards Credit Card is pretty high, other credit cards offer 5% cash back on rotating categories each quarter. If you are someone who likes to take advantage of those bonus rewards categories, you may want to look for a different travel credit card.

All things considered, the pitfalls of the Capital One Venture Rewards Credit Card card aren’t major. All it takes is a close look at your need for cash back, spending habits, and willingness to earn extra rewards to decide whether the Capital One Venture Card fits your needs.

Is the Capital One Venture right for you? 

Overall, the Capital One Venture Rewards Credit Card is a great opportunity to earn high rewards for travel credits. What’s more, rewards are highly flexible for travelers who don’t want to be tied down to a specific loyalty program. However, you shouldn’t apply for this card if you don’t travel often. The rewards simply won’t add up. In addition, you need to be ready to spend if you want to get the most out of this card. Low spenders should seek a different card with no annual fee.

Advertiser Disclosure: Many of the listings that appear on this website are from companies which we receive compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). The site does not review or include all companies or all available products.

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