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November 11, 2015

Rewards Credit Cards

Capital One® Venture℠ Rewards Credit Card Review

The Capital One® Venture℠ RewardsCard is one of the best all-around travel rewards credit cards because you can earn double miles on every purchase. However, some people who make consistent purchases in specific categories might find the rewards to be lackluster compared to the more specialized rewards cards.

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The Good

Double miles and no restrictions

The most advertised feature of theCapital One® Venture℠ Rewards Card is that you can earn two miles for every dollar you spend. The good news is there are no spending limits or restrictions. No matter what you buy, you will earn double miles.

Earn bonus miles

If you sign up for the card, you can earn 10,000 miles once you spend $1,000 in the first three months. That 10,000 miles is good for $100 towards your next flight. While the bonus might not be as significant as other cards, it's still a nice addition.

Visa Signature benefits

Any Capital One® Venture℠ Rewards cardholder will also receive all the benefits of the Visa Signature line of credit cards. Some of the benefits range from exclusive event access to 24/7 live service, concierge service, and extended warranties on purchases.

Purchase Eraser feature

With Capital One®'s Purchase Eraser feature, you can make travel costs disappear from a trip that you book by redeeming your miles within 90 days. Basically, the cost of the trip is completely removed from your statement if you redeem miles for the amount of the trip.

The Bad

Annual fee

The Capital One® Venture℠ RewardsCard does charge an annual fee of $59. Compared to the similar VentureOne℠ Rewards Card from Capital One®, this card offers more miles per dollars spent, so the additional fee isn't that costly when you consider the VentureOne℠ card, which has no annual fee, only earns you 1.25 miles per dollar spent.

Lower rewards-earning potential

Compared to other rewards credit cards that offer higher points in specific categories or specialized hotel and airline credit cards, the Capital One® Venture℠ Rewardscard falls short by only offering two miles per dollar spent. This is not a major negative since you can earn double miles on any purchase you make, but for someone who uses the same companies or airlines, or makes specialized purchases, there are likely better rewards cards out there.

The Details

Rates and Fees

  • Annual Fee: None
  • Cash Advance Fee: $10 or 3% per cash advance
  • Cash Advance Rate (APR): 24.9%
  • Foreign Currency Transaction Fee: None
  • Introductory Rate (APR): 0% until June 2014
  • Standard Rate (APR): 11.9% - 19.9%* Variable

Penalty Fees

  • Default Penalty Rate (APR): 29.4%
  • Late Payment Fee: $35
  • Minimum Interest Charge: $0.50
  • Over-Limit Fee: None
  • Returned Payment Fee: $35

Balance Transfers

  • Introductory Balance Transfer Rate (APR): N/A
  • Standard Balance Transfer Fee: None
  • Standard Balance Transfer Rate (APR): 11.9% - 19.9%* Variable


  • Additional Rewards for Dining: None
  • Additional Rewards for Gas: None
  • Additional Rewards for Groceries: None
  • Additional Rewards for Shopping: None
  • Additional Rewards for Travel: None
  • Bonus Points Offered: None
  • Rewards Earnings for All Purchases: 1.25 miles per dollar
  • Sign-Up Bonus: 10,000 bonus miles after spending $1,000 on purchases within the first 3 months
  • Type of Reward: Travel

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