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The Capital One Venture Rewards Credit Card offers dependable earning potential for a reasonable annual fee. Although the card is lighter on perks than some of its competitors, it’s the perfect card for beginner travel rewards card enthusiasts who want to earn a lot of points on all purchases, but don’t want to pay a hefty yearly price to do so.
Because you’re able to earn 2X Capital One miles on all purchases, it’s easy to build up a mileage balance quickly, especially if you’re spending more in categories like clothing or makeup, or using the card to buy a big ticket purchase, such as a car or materials for a home renovation. Additionally, if you utilize the statement credits the card offers, you’ll easily come out ahead. Here’s what you need to know about the Capital One Venture Rewards credit card.
The basics
The simplicity of the Capital One Venture Rewards card makes it easy to use. The card comes with a generous welcome bonus and some useful travel protections. You get 5X bonus miles for hotels, vacation rentals, and rental cars booked via Capital One Travel and 2X miles for everything else. You can offset the $95 annual fee by using the card’s statement credits and the few perks that it offers.
All the details are below:
Current welcome bonus: 75,000 miles after spending $4,000 in the first 3 months.
Annual fee: $95 Rewards: 5X miles for hotels, vacation rentals, and rental cars booked through Capital One Travel and 2X points on all other purchases Foreign transaction fees: None
Other benefits:
$50 experience credit on every Lifestyle Collection booking on Capital One Travel
Up to $120 credit for Global Entry or TSA PreCheck® every four years
Price prediction and free price drop protection on Capital One Travel, which can save you 15%
Hertz® Five Star status
Access to Capital One Dining and Capital One Experiences
Access to Capital One Shopping and Capital One offers
50% off beverages at Capital One Cafes
0% fraud liability
Travel protections such as travel accident insurance and auto rental collision damage waiver
The pros and cons
The Capital One Venture Rewards card has both advantages and disadvantages:
Why we love the Capital One Venture Rewards Credit Card
Easy to offset annual fee: With a $50 experience credit on Lifestyle Collection hotel bookings and a $120 Global Entry or TSA PreCheck credit, it’s easy to balance out your $95 annual fee.
Bonus miles on everyday spend: Earning 2X miles on all purchases makes it easy to accumulate a large number of miles quickly.
Earn flexible, easy-to-redeem miles: Redeeming Capital One miles is a breeze, since you can transfer them, wipe travel charges off your statement, or use them in Capital One Travel.
Things to consider with the Capital One Venture Rewards Credit Card
There are limited perks: The card offers just a few benefits beyond its few statement credits and travel protections.
Requires excellent credit: The card requires excellent credit, so if you don’t have that, you likely won’t get approved (f you’re not sure, you can always use the preapproval tool, which won’t ding your credit).
Doesn’t offer many bonus categories: Besides the 2X on everything, the card only offers additional bonus points for specific purchases through Capital One Travel.
Earning points with the Capital One Venture Rewards Credit Card
Earning Capital One miles on the Capital One Venture Rewards card is relatively simple, especially if you have a large purchase coming up that doesn’t traditionally fit into a bonus category. For example, if you’re going to buy a new car, an engagement ring, or install a gazebo in your yard, you can pay with this card to earn 2X points on all of it.
If you frequently book hotels, vacation rentals, or rental cars, you can earn 5X miles by booking through Capital One Travel and paying with this card..
We appreciate the flexibility of Capital One miles: They never expire (for as long as you hold the card) and have no blackout dates.
Redeeming points with the Capital One Venture Rewards Credit Card
Capital One miles are one of the most flexible travel reward currencies on the market. You’ll get the most value out of your rewards if you transfer them to partners — and Capital One just added a few new ones to its roster. Many partners offer 1:1 transfers, which offer the best deal.
These partners have a 1:1 transfer ratio:
Aeromexico Rewards
Etihad Guest
Finnair Plus
TAP Miles&Go
Meanwhile, Accor Live Limitless offers a 2:1 transfer ratio, I Prefer Hotel Rewards offers a 1:2 ratio, EVA Air and Japan Airlines Mileage Bank offer a 2:1.5 ratio, and JetBlue offers a 5:3 ratio on transfers.
We value Capital One miles at between 1 and 2.5 cents per mile. Transferring is usually the best way to obtain the higher end of that valuation, especially if you opt to transfer to a partner with a 1:1 ratio or higher.
However, you can use your points to book travel in Capital One Travel or wipe travel charges off your statement within 90 days of purchase at a rate of 1 cent per point.
Erasing travel charges from your statement offers a lower value for your points, but it can be helpful if you want to get your money back on different types of travel, such as a ferry or train. Using your miles to toward Capital One Travel bookings is most valuable when you’re booking more traditional types of travel, such as flights or hotels.
Who this card is great for
This card is ideal for consumers who don’t have the time or energy to think too much about bonus categories or which card to use at specific businesses or shops. Its simple earning structure is both the best and worst thing about the card, making it ideal if you just can’t be bothered to organize a wallet full of cards, but perhaps less so if you want to earn bonus points on categories like gas, groceries, or flights. If you tend to spend a lot in more traditional bonus categories, you might want to get a second card to earn maximum points.
The card’s low annual fee is also ideal for shoppers and travelers who want to earn increased rewards, but don’t want to spend a lot for a more premium card. Plus, if you live near a Capital One Cafe, 50% off beverages is a great way to save on that daily coffee.
Comparing the Capital One Venture Rewards Credit Card to the Capital One Venture X
The Capital One Venture X is a more premium flexible rewards card with a higher annual fee. Many of the benefits are similar, but Venture X has more perks, like a $300 statement credit in Capital One Travel, lounge access (though lounge policies have recently changed), and the ability to earn more points in Capital One Travel for specific categories.
| Benefit | Capital One Venture Rewards Card | Capital One Venture X Rewards Card |
|---|---|---|
| Earning | 2X on all purchases5X miles on hotels, vacation rentals, and rental cars booked through Capital One | 2X on all purchases5X on flights in Capital One Travel10x on hotels & car rentals in Capital One Travel |
| Redemption | Redeem in Capital One TravelTransfer to partners,Wipe travel charges from your statement | Redeem in Capital One TravelTransfer to partners,Wipe travel charges from your statement |
| Credits | $120 Global Entry or PreCheck$50 experience credit on every Lifestyle Collection booking | $300 in Capital One Travel$120 Global Entry or PreCheck$100 experience credit on every Premier booking |
| Anniversary Bonus | No | 10,000 points on cardmember anniversary |
| Welcome Bonus | $75,000 after spending $4,000 in the first 3 months | $75,000 after spending $4,000 in the first 3 months |
| Annual Fee | $95 | $395 |
| Foreign Transaction Fees | No | No |
| Lounge Access | No | Yes |
Wrap up
Simply put, the Venture Rewards card is a flexible rewards card with a low annual fee. It packs a punch with its large welcome bonus and the ability to earn 2X miles on all purchases. That said, it doesn’t come with perks like numerous statement credits, lounge access, and other travel benefits that its premium counterpart offers. If you’re looking for a basic card that earns a decent bonus on everyday spend for a low annual fee, the Capital One Venture Rewards card is an obvious choice.
