Capital One VentureOne Rewards Credit Card Review
The Capital One VentureOne Rewards Credit Card is a good starter card when you want to get a feel for how travel rewards credit cards work. It only earns 1.25 miles per every dollar spent, but those in search of a low-cost travel rewards credit card will like that the VentureOne card has no annual fee and no foreign transaction fees.
Take advantage of the first year’s 0% APR offer by making larger purchases on goods like electronics or household appliances. You’ll get extended warranty protection on the purchases with the Capital One card and you’ll earn travel miles on the spending. Plus, you get 12 months to repay the purchases in installments with no interest charges. However, make sure you don’t take longer than 12 months to repay your balance — a 13.74% to 23.74% variable APR will kick in on your balance after the introductory period.
Capital One VentureOne Rewards Credit Card Overview
- Card Type: Travel
- Rewards Rate: 1.25X miles on all purchases
- Sign-Up Bonus: Earn 20,000 miles once you spend $1,000 on purchases within three months ($200 value)
- Annual Fee: $0
- APR: 13.74%-23.74% variable APR
- Intro APR: 0% intro APR on purchases for 12 months
- Recommended Credit Score: Excellent
- Additional Rates and Fees: 3% balance transfer fee
- Earn 1.25 miles for every dollar you spend
- Travel when you want with no blackout dates
- Transfer miles to 10-plus travel loyalty programs
- Choose any hotel and fly any airline
- Enjoy card perks like travel assistance and extended warranty protection
Consumers who don’t spend much on their credit cards but want to get a feel for how earning and redeeming travel rewards points works
Frequent travelers who want to maximize points-earning potential
|Capital One VentureOne Rewards Credit Card||Bank of America Travel Rewards Visa Credit Card||Discover it Miles||Marriott Bonvoy Bold Credit Card|
|1.25X miles on all purchases||1.5X points on all purchases||1.5X miles on all purchases||3X points per $1 at Marriott Bonvoy hotels 2X points on travel 1X points on all other purchases|
|0% intro APR on purchases for 12 months Flexible rewards redemption||0% intro APR on purchases for 12 months Redemptions aren’t limited to specific websites and no blackout dates||0% intro APR on purchases for 14 months, 10.99% APR on balance transfers for 14 months Rewards can be redeemed for travel||No introductory APR Redeem for hotels or travel packages|
|View details||View details||View details||View details|
Earn and redeem miles for travel or cash
Capital One VentureOne’s miles redemption process is one of the most flexible among travel rewards cards. You can redeem your earned Capital One VentureOne miles for cash or travel in three ways:
- Redeem your miles for billing statement credits
- Use your miles for travel bookings at the Capital One Travel website
- Transfer your miles to over 10 travel loyalty programs
Save on credit card fees
Even if you’re not a frequent traveler, the no annual fee and no interest on purchases the first year is a strong benefit. You’ll be able to earn rewards for free as long as you pay your balance off in full each month. The 0% APR introductory period for purchases made in the first 12 months will also save you on interest charges.
The Capital One VentureOne credit card comes with some card perks not normally found with no-annual-fee cards. The free perks included with the card are:
- 24-Hour Travel Assistance Services to replace your lost or stolen card when you’re on a trip and provide a cash advance
- Extended Warranty that extends the warranty for free on purchased items
- Auto Rental Collision Damage Waiver to cover your rental car against collision damage or theft
- Travel Accident Insurance to cover a loss on fares purchased with the card
Low miles-earning rate
You’ll only earn 1.25 miles for every dollar spent when you use the VentureOne card. If you’re a frequent traveler, there are better travel rewards cards that provide higher earnings ratios.
If you plan on running a balance after the first year of sign-up, there are lower-interest credit cards that would save you money. This card is best if you’re able to pay your balance off in full each month to save yourself 13.74% to 23.74% in interest.
Capital One VentureOne Rewards Credit Card Compared to Discover it Miles Card
The Capital One Venture Rewards credit card and the Discover it Miles card have a few key differences. For one, their sign-up bonuses are different. Currently, you’ll earn 20,000 travel miles with Capital One VentureOne, which is equal to $200. Discover will automatically match all the miles you’ve earned at the end of your first year, effectively doubling your first-year earnings. If you spend regularly using your card, you may earn more travel rewards with the Discover it Miles card.
You’ll only earn 1.25X miles on all purchases with your VentureOne versus 1.5X miles with your Discover it. On the other hand, the Capital One Travel portal is easy to use and pretty flexible — you can redeem your miles for flights, car rentals, hotels, and even experiences.
How to Earn Points
To earn the most miles with the Capital One Venture one credit card, you’ll need to spend regularly to build up your miles balance. Take advantage of your sign-up bonus of 20,000 bonus miles once you spend $1,000 on purchases within the first three months, or spend regularly to add 1.25X for every dollar spent as miles.
For even more earnings, use your VentureOne credit card to book your hotels through Hotels.com. The hotel discount site has some of the best deals on hotel stays and has partnered with Capital One to bring you extra mile rewards on all your hotel bookings. You’ll earn an impressive and unlimited 10 miles for every dollar spent on your hotel bookings.
How to Redeem Points
There are four ways to redeem your VentureOne miles:
- Redeem your miles for cash in the form of a check, statement credit, or gift cards
- Use the Capital One Purchase Eraser option by booking travel, paying with your VentureOne card, and calling Capital One’s Rewards Center at 1-877-383-4802 to receive an account credit for the cost of your travel purchase
- Book through the Capital One Travel portal to apply your miles toward your travel purchases
- Transfer your miles to Capital One’s approved travel partners by logging in to Capital One Travel and choosing the transfer option
The Bottom Line
The Capital One VentureOne card is a great starter card for individuals who don’t spend much but want to learn how to earn and redeem miles for travel. The no annual fee and no foreign transaction fees make this card a low-cost option, and the 1.25X earnings is simple — all purchases qualify, minimizing the guesswork on earning travel rewards miles.