May 12, 2021

Model Desac

It’s Time to Fly

Capital One Venture Rewards Card Review

5 min read

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Capital One Venture Rewards Credit Card

Best for Travel Rewards Beginners

Capital One Venture Rewards Credit Card

Rewards rate:

Earn unlimited 2X miles on every purchase, every day.

  • Intro bonus: 60,000 miles
  • Annual fee: $95
  • Regular APR: 17.24% – 24.49% (Variable)
  • Recommended credit score: 670-850 (Good to Excellent)

The Capital One Venture Rewards Credit Card* is a flexible travel rewards credit card and even ranks among our best credit cards of 2021. You’ll earn 2x miles toward future travel on each dollar you spend, plus a generous welcome bonus. But you’ll really maximize value with flexible redemption options. Not only can you book travel directly and transfer to partners, but you can also “erase” any travel-related purchases from your statement using miles.

At a Glance

  • Earn unlimited 2x miles for each dollar you spend
  • Qualify for 60,000 bonus miles (worth $600 in travel) when you spend $3,000 within three months of account opening
  • No foreign transaction fees
  • Up to $100 credit toward Global Entry or TSA PreCheck membership every four years
  • $95 annual fee

Pros

  • Flat 2x miles on every purchase

  • Generous sign-up bonus worth $600 in travel

  • Flexible rewards redemptions

  • No foreign transaction fees

Cons

  • High variable APR

  • $95 annual fee

  • Travel transfer partners options and value aren’t as good as some other programs

Additional Card Details

While the Capital One Venture Rewards Credit Card doesn’t have as many travel perks as some of the more premium travel credit cards, you will get some solid benefits to help offset the relatively low-cost $95 annual fee.

Every four years, you can receive $100 in credit toward Global Entry or TSA Precheck. And for added peace of mind while traveling, you’ll get travel insurance benefits like 24-hour travel assistance services, auto rental collision damage waiver, and travel accident insurance. 

The Venture card also charges no foreign transaction fees and can protect your purchases with extended warranties.

Should You Get this Card?

If you want to earn rewards for future travel without tracking bonus categories or earning caps, the Capital One Venture Rewards Credit Card is a solid bet. 

This card’s flexibility really shines when you’re ready to redeem the miles you earn, especially if you don’t want to be tied to a single rewards program or you enjoy shopping around for the best travel deal before booking. You can use Capital One’s Purchase Eraser to redeem miles for any travel purchases you make with your Venture card within 90 days, book travel through Capital One’s rewards program, or transfer to travel partners.

Even when you’re not traveling, you can maximize value with your Venture card. You’ll earn miles on every purchase, so you don’t need to be a frequent flyer to earn great rewards. And through April 2021, you can redeem your miles for credits toward eligible restaurant delivery and takeout, streaming services, and wireless telephone services.

How to Use the Capital One Venture Rewards Credit Card

You’ll earn 2x miles for each dollar you spend, so you can maximize your rewards by using your card for all your regular spending. If you have other rewards cards with higher rewards in some categories, like groceries or gas, it may make sense to continue using them where applicable, but otherwise you can rack up Venture miles quickly by using your card for everyday purchases and recurring payments.

You can also earn the 60,000-point intro bonus by spending at least $3,000 within three months of account opening. That’s worth $600 in travel on its own, which easily helps justify the $95 annual fee.

Just remember to charge only what you can afford to pay off, and make sure you pay your bill in full each month. This card’s high APR can quickly lead to high-interest debt if you make a habit of carrying a balance.

When you’re ready to redeem your rewards, you’ll likely get the maximum value for your rewards with travel redemptions. Book directly through Capital One’s travel portal at a rate of one cent per mile, or use Purchase Eraser to cover airfare, hotel stays, rental cars, and more travel-related purchases made within 90 days.

Pro Tip

Through April 2021, use Capital One’s Cover My Purchases feature to redeem your miles for eligible restaurant delivery and takeout, streaming services, and wireless telephone services.

Travel credit cards from Capital One are also eligible for miles transfers to partner loyalty programs. Here is the full list of Capital One’s transfer partners:

  • Aeromexico Club Premier
  • Air Canada Aeroplan
  • Air France-KLM Flying Blue
  • Alitalia MilleMiglia
  • Avianca LifeMiles
  • Cathay Pacific Asia Miles
  • Emirates Skywards
  • Etihad Guest
  • EVA Infinity MileageLands
  • Finnair Plus
  • JetBlue TrueBlue
  • Qantas Frequent Flyer
  • Singapore KrisFlyer
  • Accor Live Limitless
  • Wyndham Rewards

Other redemption options include cash, gift cards, and shopping with Amazon or PayPal.

Capital One Venture Rewards Credit Card Compared to Other Cards

Capital One Venture Rewards Credit Card

Capital One Venture Rewards Credit Card

  • Intro bonus:
  • Annual fee:

    $95

  • Regular APR:

    17.24% – 24.49% (Variable)

  • Recommended credit:

    670-850 (Good to Excellent)

  • Learn moreexterna link icon at our partner’s secure site
Chase Sapphire Preferred® Card

Chase Sapphire Preferred® Card

  • Intro bonus:
  • Annual fee:

    $95

  • Regular APR:

    15.99% – 22.99% Variable

  • Recommended credit:

    670-850 (Good to Excellent)

  • Learn moreexterna link icon at our partner’s secure site
Citi Premier® Card

Citi Premier® Card

  • Intro bonus:
  • Annual fee:

    $95

  • Regular APR:

    15.99% – 23.99% (Variable)

  • Recommended credit:

    670-850 (Good to Excellent)

  • Learn moreexterna link icon at our partner’s secure site

Bottom Line

EDITORIAL INDEPENDENCE

As with all of our credit card reviews, our analysis is not influenced by any partnerships or advertising relationships.

 

*All information about the Capital One Venture Rewards Credit Card, Capital One VentureOne Rewards Credit Card and Citi Premier Card has been collected independently by NextAdvisor and has not been reviewed by the issuer.

Capital One Venture Rewards Credit Card is a great travel credit card option for travel enthusiasts who value flexible rewards over premium benefits or credits. Double miles on every dollar you spend, a generous welcome bonus, and numerous redemption options can all go a long way to offset the card’s $95 annual fee — and help you save on future travel.

But before you apply, compare the Venture card to other rewards credit cards to ensure you find the card that best aligns with your spending style and financial goals.

Frequently Asked Questions

Is the Capital One Venture a good card?

Capital One Venture Rewards Credit Card is one of the top travel credit cards on the market today. With 2x miles on all your purchases and flexible redemption options, you can use this card to rack up considerable travel rewards.

What credit score do you need for the Capital One Venture Card?

You’ll need very good or excellent credit (670 or higher credit score) for the best chances of approval when you apply for the Capital One Venture Rewards Credit Card.

What is the difference between the Capital One Venture and the Capital One VentureOne?

Capital One’s VentureOne Rewards Credit Card is similar to the Venture card, but charges no annual fee. In exchange for no fee, you’ll also get a reduced welcome bonus and earning rate (1.25x miles per dollar) and forgo the Global Entry or TSA PreCheck fee credit.

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