Capital One Venture Rewards Review

Travel reward cards often have blackout dates and other tough restrictions that decrease the card’s benefits, but not Capital One Venture Rewards. This card has killer travel benefits that far outweigh the $95 annual fee.

Is the Capital One Venture Rewards card right for you? Read on to learn more.

Card Details:

• Annual Fee: $95
• Sign-Up Bonus: Capital One pays 100,000 bonus miles if you spend $20,000 in the first 12 months of account opening. If that’s too lofty, you can earn 50,000 miles if you spend $3,000 in the first 3 months.
• Rewards Rate: Earn 2 miles per dollar spent in any category or at any store

Capital One Venture Rewards Pros and Cons

Pros:

• Miles never expire
• You can earn 2X miles on every purchase. No specific categories required
• No restrictions on travel when redeeming rewards
• No confusing categories to figure out, you earn the same reward on all purchases

Cons:

• You’ll pay an annual fee
• You must have good credit to qualify
• Few transfer partners to transfer points to

Capital One Venture Rewards Credit Card Overview

How Does Capital One Venture Rewards Work?

Capital One Venture Rewards cardholders earn 2 miles for every dollar spent. You don’t have to follow specific categories or meet specific spending requirements.

If you spend $20,000 in the first 12 months, you’ll earn an additional 100,000 miles or an additional 50,000 miles for spending $3,000 in three months.

There is a $95 annual fee, but it’s a small fee for the exceptional benefits, especially if you travel. The Capital One Venture Rewards card has no blackout dates, no limits on the miles you can earn or spend, and you don’t need a minimum number of miles to redeem them.

Is the Capital One Venture Rewards Card Worth It?

Like any card with an annual fee, you have to do the math. Will you reap the rewards? Do you travel often, and will you pay with your Capital One Venture Rewards card?

You get the most bang for your buck when you take a statement credit for applicable travel spending or book your travel through the Capital One Travel Center. Each mile is worth $0.01 in this case.

If you take a statement credit or check, you’ll earn 50% for each mile and a gift card 80% – 100%. If you travel often, though, it could be worth it as long as you use the miles for your travel costs.

How Do I Earn Rewards with the Capital One Venture Rewards Credit Card?

There’s no secret to earning rewards with the Capital One Venture Rewards card, which is one of its perks.

You don’t have to know the secret categories, know a secret handshake, or have to do research before using your card.

Every purchase at any store, restaurant, or any other venue earns you 2 miles per dollar spent. The rewards are unlimited, so you don’t have to worry about spending caps either.

How Do I Redeem My Capital One Venture Rewards?

Ideally, you’ll redeem your Capital One Venture Rewards miles for travel. That’s the best bang for your buck.

You have two options to redeem travel rewards:

• Book your travel directly through the Capital One Travel Center – You can pay for the travel costs with all miles or part miles, part cash.
• Get redeemed for past travel purchases – You can redeem miles for travel purchases made with your Capital One Venture Rewards card over the last 60 days. Just choose the expenses in the app and redeem your rewards. The app shows you how many points you’ll use for each expense.

Capital One offers a few other options to redeem rewards, but I don’t recommend it. You won’t get the full value of the points but have the option to get a statement credit, check, or gift card if you know you can’t travel.

Capital One Venture Rewards Features

• No Foreign Transaction Fee: If you travel internationally, this is a major benefit.
• Global Entry or TSA Pre® Credit: Receive up to a $100 credit for Global Entry or TSA Pre-Check® application fees once every four years
• Transfer Miles Easily: Easily transfer miles to member partners for a 1:1 ratio versus the flexible points offer, which is a lower ratio
• 24-Hour Travel Assistance: If your card is lost or stolen, Capital One is available 24/7 to help you.
• Travel Accident Insurance: If you book your trip with your Capital One Venture Rewards card, you’ll have travel accident insurance while on the trip (exclusions apply).
• Show with Rewards on Amazon: You can redeem miles to shop on Amazon, but at a lesser value of around 0.8 per mile.
• Auto Rental Collision Damage: If you pay for your rental car with your Capital One Venture Rewards card, you have rental car coverage (secondary coverage) should theft or damage occur.
• Extended Warranty: Purchases made with your Capital One Venture Rewards card have double the manufacturer’s warranty for one year on products with warranties of three years or less.
• Capital One Shopping: The Capital One shopping tool helps you find deals on products before you shop. If you already shopped, Capital One’s Paribus tool finds savings online and gets you money back.
• Autopay: Set up autopay, so you don’t have to worry about missing a payment and getting hit with a late fee.

Capital One Venture Rewards Security

• Receive Security Alerts: You can receive texts, emails, or phone calls about any potentially fraudulent activity on your account.
• Card Lock: You can lock your card from the mobile app if you think it’s lost or stolen.
• $0 Fraud Liability: If your card is lost or stolen, you aren’t responsible for any charges.
• CreditWise: Receive alerts if your TransUnion or Experian credit score changes.

Capital One Venture Rewards Pitfalls

• Balance Transfer Fee: Capital One charges a 3% balance transfer fee
• Annual Fee: Every cardholder pays a $95 annual fee
• Little to No Cash-Back Opportunities: If you choose cash-back, you’ll give up about 50% of the rewards as travel rewards are worth much more.

Alternatives to the Capital One Venture Rewards Credit Card

#1. Chase Sapphire Preferred® Card

Like Capital One Venture Rewards, the Chase Sapphire Preferred® Card has a $95 annual fee, but you earn 2x points on dining (including takeout) and 1x points on all other purchases.

If you redeem your rewards through Chase Ultimate Rewards, you’ll get 25% more for your points. Chase Sapphire also offers trip cancellation insurance, insurance for lost luggage, auto rental collision coverage, and free DoorDash deliveries. You’ll also get up to $60 back on Peloton memberships.

Chase Sapphire offers 80,000 bonus points if you spend $4,000 in the first three months. If you redeem the points in the Chase Ultimate Rewards dashboard, it’s equal to $1,000. You can also earn up to $50 in credits on grocery store purchases in the first year.

#2. Citi® Double Cash Card

The Citi® Double Cash Card doesn’t have an annual fee, which is better than the Capital One Venture Rewards card, and it pays double the rewards – once when you use the card and again when you pay your bill.

You earn 1% for every purchase and another 1% of the amount of your bill that you pay. It’s an incentive to pay your bill in full!

The Citi® Double Cash Card doesn’t have a signup bonus, which is unfortunate, but earning 2% on every purchase is a nice feature.

It also doesn’t have an introductory APR unless you do a balance transfer, which you’ll get a 0% rate on for 18 months, but don’t forget about the balance transfer fee. You must accumulate $25 in rewards before redeeming.

#3. Capital One VentureOne Rewards Credit Card

The CapitalOne VentureOne Rewards credit card doesn’t have an annual fee, and it offers an introductory APR for the first year.

Cardholders earn 1.25X miles for every purchase, and you can earn 20,000 bonus miles if you spend just $500 in 3 months. In reality, that’s $200 in travel, so nothing robust.

The VentureOne Rewards card offers travel insurance, rental car coverage, and an extended warranty on ‘some’ items.

You get the same rewards whether you book your travel through Capital One, redeem your miles for a statement credit for travel you already took and paid for, or by transferring it to one of the 10 partners.

Frequently Asked Questions

How Much Are Capital One Venture Miles Worth?

Capital One Venture Miles are worth one penny for every mile. Every 1,000 miles is worth $100.

What Is the Capital One Venture Rewards Annual Fee?

All cardholders pay a $95 annual fee every year to have the Capital One Venture Rewards card.

Can I Transfer Capital One Venture Miles to Various Airlines?

As of today, you can transfer your Capital One Venture Miles to 13 airlines. It’s usually at a rate of 2 Capital One miles to 1.5 airline miles, so keep that in mind.

What Credit Score Do Applicants Need for the Capital One Venture Rewards Credit Card?

Like most reward cards, Capital One requires at least a 700 credit score to get the Capital One Venture Rewards card.

What Is the Credit Limit on the Capital One Venture Rewards?

Most cardholders start with a $5,000 credit limit, but many soon get their credit line increased to $10,000 – $30,000.

Bottom Line: Capital One Venture Rewards Review

If you travel often, the Capital One Venture Rewards card should be in your arsenal of cards. Despite its $95 annual fee, there are plenty of ways to come out ahead on the deal, especially if you book your travel through Capital One and take advantage of the sign-up bonus.