Capital One Venture Rewards Credit Card: Review
Is Capital One Venture Rewards worth it?
The Capital One Venture Rewards Credit Card is worth it if you travel frequently and don’t mind earning bonus miles instead of cash rewards. It’s also ideal for discerning travelers who want premium perks at airports and hotels. The annual fee for the Venture card is just $95, making it a good value, especially when compared to cards with annual fees of $250 to $600.
That said, there are a couple of drawbacks that may make the Capital One Venture Rewards card a poor fit for your needs, but we’ll go into more detail on those potential pitfalls later.
▶︎ See: Best travel credit cards
Capital One Venture Rewards Card: Highlights
- $95 annual fee
- Earns 5X miles on hotels and rental cars booked through Capital One Travel and 2X miles on other purchases.
- Sign-up bonus of 75,000 miles when you spend $4,000 within three months of opening your account, plus a one-time bonus of $250 to use on Capital One Travel in your first cardholder year. This is worth $1,000 in travel!
- Comes with a fee credit for Global Entry or TSA PreCheck
- Cardholders can get a $50 experience credit when booking a hotel in the Lifestyle Collection through Capital One Travel.
- No foreign transaction fees
Who is the Capital One Venture Rewards Card best for?
Capital One Venture Rewards is best for semi-frequent to frequent travelers who don’t want to pay the expensive annual fees of more premium travel credit cards. This card is also ideal for travelers who don’t want to track various spending categories when earning rewards. Additionally, this is a metal credit card so it feels extra fancy, so if that’s important to you it could be worth considering.
Capital One Venture Rewards Credit Card: Rewards
Earning rewards
The Capital One Venture Rewards Credit Card earns 5X miles on hotels and rental cars booked through Capital One Travel and 2X miles on other purchases. Each mile is worth approximately 1 cent.
For example, assume you use Capital One Travel to book a $700 flight. When you get to your destination, you spend $400 on a rental car and $200 on souvenirs. You’d earn 1,800 miles on the flight/souvenirs ($900 in expenses times two miles per dollar) and 2,000 miles on the car rental ($400 in expenses times five miles per dollar).
▶︎ Learn more: Guide to Capital One Rewards
Redeeming rewards
Capital One gives you seven ways to redeem your Venture Card miles:
-
Transferring miles to a partner. Capital One allows you to transfer your miles to one of its transfer partners. Most partners have a 1:1 ratio, which means you’ll receive one mile or point for every mile you transfer.
-
Redeeming miles as a statement credit. If you don’t want to move your miles to another loyalty program, you can redeem them for a statement credit. This is helpful if you want to use your miles to cover past travel expenses or if you want to use your miles without using Capital One Travel.
-
Booking miles through the travel center. You can also redeem your Capital One Venture miles by using Capital One Travel to make your travel arrangements. For example, if you want to visit your family for the holidays, you may be able to use miles to pay for your flight and accommodations.
-
Sharing them. If a friend or family member has the Capital One Venture, you can transfer your miles to their account
-
Redeeming miles for events and experiences. You can use your miles to pay for concert tickets, sporting events, and other experiences. Note that you must use Capital One Entertainment to make your purchase.
-
Buying gift cards. With the Capital One Venture, you can redeem your miles for gift cards from many major brands, including Best Buy and Barnes & Noble.
-
Redeeming for cash. If you don’t have any upcoming travel plans and don’t want to share your miles, buy gift cards, or purchase premium experiences, you can redeem your Capital One Venture Rewards credit card miles for cash. Once you make the redemption, Capital One will send you a check or issue a statement credit.
Welcome bonus
New Venture Card cardholders can earn a one-time bonus 75,000 miles when they spend $4,000 within three months of opening their account, plus a one-time bonus of $250 to use on Capital One Travel in their first cardholder year. This is worth $1,000 in travel!
Rates & Fees
Fees
-
Annual fee: $95
-
Balance transfer fee: $0 at the Transfer APR, 4% of the amount of each transferred balance that posts to your account at a promotional APR that Capital One may offer to you
-
Cash advance fee: The greater of $5 or 5% of the advance
-
Foreign transaction fee: $0
-
Late payment: Up to $40
Interest rates
-
Regular APR: 19.99% - 29.99% variable APR, depending on your credit history
-
Purchase intro APR: N/A
-
Balance transfer intro APR: N/A
-
Cash advance APR: 29.99%
Card limit
The Capital One Venture comes with a minimum credit limit of $5,000. It maxes out at a limit of $25,000. Remember, Capital One determines your limit based on your credit history.
Capital One Venture Rewards Credit Card: Benefits
Travel perks
-
Lounge access. If you’re traveling to Dulles International Airport or Dallas Fort-Worth International Airport, you can use your card to access the Capital One Lounge. The Capital One Venture comes with two free lounge visits per year. If you want to bring a spouse, child, or colleague with you, the guest fee is $45. Make sure you have your Capital One Venture Rewards credit card with you, as you’ll need to present it at the lounge access point. Cardholders also have access to Plaza Premium Lounges at other airports. This benefit is only available through the end of 2024.
-
Travel insurance. Access to Capital One Lounges and Plaza Premium Lounges isn’t the only reason to sign up for the Venture card. Your membership also entitles you to travel insurance, which covers trip cancellations, trip interruptions, and trip delays. Additionally, Capital One travel insurance comes with baggage insurance and rental car insurance. Check your cardholder agreement to learn more about your coverage limits and exclusions.
-
Premium hotel benefits. If you use Capital One Travel to book a hotel in the Lifestyle Collection, your card entitles you to a $50 experience credit. When available, you may also qualify for complimentary room upgrades.
-
Global Entry or TSA PreCheck fee credit. Global Entry and TSA PreCheck make getting through airport security a little less of a hassle. If you have the Venture card, you’ll get a credit for your Global Entry or TSA PreCheck fee, making these programs more affordable. This credit is worth up to $100.
-
No foreign transaction fee. If you enjoy traveling overseas, the Venture card may be a good fit, as it is a no foreign transaction fee card. Depending on how often you travel and how long you stay overseas during each trip, the lack of foreign transaction fees may help you save a significant amount of money.
-
Capital One Entertainment. Capital One Entertainment allows you to redeem your miles for concerts, sporting events, and VIP experiences. You may even qualify for Capital One Cardholder Exclusive Tickets, giving you access to better seats than you’d get if you purchased your tickets elsewhere.
-
Capital One Dining. Capital One Dining gives cardholders access to exclusive dining experiences, such as dinners prepared by world-renowned chefs. You can even use your card benefits to dine at award-winning restaurants and eateries listed in the Michelin Guide.
▶︎ See our picks: Best credit cards for Global Entry and TSA PreCheck
Consumer protections
-
Security alerts. If you enable security alerts, Capital One will send you a text any time there’s suspicious activity on your account. You can also set up instant purchase notifications, making it easier to spot fraud before it becomes a big problem.
-
$0 fraud liability. Credit card fraud is a persistent problem, but if someone manages to use your card without authorization, you won’t be liable for any of the charges.
-
Emergency card replacement. If you lose your card or if someone steals it from you, Capital One will replace it for free
-
Extended warranty coverage. When you make a purchase with your Venture card, you may be entitled to extended warranty coverage, ensuring that you have some recourse if the item is damaged or defective. Be sure to keep your receipt in case you have to file a warranty claim. Check your cardholder agreement for more information about coverage limits and exceptions.
Other perks
-
CreditWise credit monitoring. CreditWise gives you access to your credit report and VantageScore, making it easier to see how your financial habits affect your credit profile. It also sends you alerts when your report changes, which may help you stop fraud in its tracks.
-
Capital One Shopping. Venture cardholders have access to Capital One Shopping, a browser extension that displays coupon codes and deal alerts when you’re shopping online. It also gives you access to personalized deals, such as a flat-rate discount on streaming subscriptions and extra cashback on shoes and clothing.
-
Eno. You also have access to the Capital One Digital Assistant (Eno), making it easier to find answers to common questions. For example, Eno can tell you how to add an account to your profile or check your balance.
Capital One Venture Rewards Credit Card: Drawbacks
Lower reward rate
The Venture Rewards Card’s reward rate isn’t quite as high as the rewards rate offered by many other travel credit cards. Each mile is worth no more than 1 cent unless you use a limited number of transfer partners to book your travel. This low reward rate makes it difficult to maximize your earnings. If earning potential is important to you, a card with a better rewards rate may be a better addition to your wallet.
▶︎ See: Best rewards credit cards
High spending requirement for the welcome offer
Some users may also have trouble spending $4,000 within three months of opening an account, which is the minimum amount you must spend to qualify for the Venture Rewards’ sign-up bonus. If you don’t plan to use your credit card for everyday purchases, look for a card that gives you a sign-up bonus with a lower minimum spend.
▶︎ See: Best credit card sign-up bonuses
Limited additional perks
Many credit cards come with valuable partner benefits like free DashPass subscriptions or free Instacart memberships. The Venture has a few perks like a Global Entry or TSA PreCheck fee credit but it’s lacking in benefits compared to some other travel cards.
The annual fee
While the Venture Rewards’ $95 annual fee is lower than some cards, it’s still almost $100 per year to remain a card member. If you don’t travel a lot, this fee could be difficult to justify. On the other hand, if you do travel frequently, this is a steal compared to higher-tier cards with annual fees costing $300 or more.
▶︎ See: Best no-annual-fee credit cards
How Capital One Venture Rewards compares
Capital One Venture Rewards Card vs. Capital One Venture X Rewards Credit Card
The Capital One Venture Rewards Card has a $95 annual fee and offers 2X miles on every purchase. It’s a solid option for those looking for a straightforward rewards structure with flexibility in redeeming miles for travel.
The Capital One Venture X has a higher annual fee of $395 but includes more premium benefits like a $300 annual travel credit, 5X miles on flights, 10X miles on hotels, and 10X miles on rental cars (all through Capital One Travel). Additionally, Venture X offers complimentary airport lounge access, which adds a ton of value for frequent travelers.
▶︎ See how these two stack up: Capital One Venture vs Venture X comparison
▶︎ Read more: Capital One Venture X review
Capital One Venture Rewards Card vs. Chase Sapphire Preferred® Card
The Chase Sapphire Preferred® Card has an annual fee of $95, identical to the Venture Rewards Card, but they have different earning structures and benefits.
The Sapphire Preferred offers 5X points on Chase Travel purchases, 3X points on dining, online grocery purchases, and select streaming services, and 1X points on other purchases. Points earned with the Sapphire Preferred can be transferred to various travel partners at a 1:1 ratio or can be redeemed through Chase Travel at 25% more value (1.25 cents per point). Additionally, Sapphire Preferred has more partner benefits than Venture does, but it doesn’t have the TSA PreCheck credit.
▶︎ See how these two stack up: Chase Sapphire Preferred vs. Capital One Venture Rewards comparison
▶︎ Read more: Chase Sapphire Preferred review
