Capital One Venture Rewards Credit Card Review

capital one venture credit card

The Capital One Venture Rewards Credit Card is one of the best mid-level travel rewards credit cards.

It offers 2x miles on everything, plus a generous welcome bonus — and it's simple to redeem your rewards, which makes it one of the best rewards cards for beginners.

The card offers travel credits, perks, and over a dozen transfer partners that help to offset the moderate annual fee.

Here’s everything you need to know about the Capital One Venture Rewards card.

Quick Facts: Capital One Venture Rewards

  • Rewards rate: 5x miles on hotel and rental car purchases through Capital One Travel portal; 2x miles on all other purchases
  • Welcome offer: Earn 75,000 bonus miles when you spend $4,000 within three months of account opening (worth $750 when booking through Capital One Travel)
  • Annual fee: $95

. . .

Overview of the Capital One Venture Rewards

The Capital One Venture Rewards Credit Card offers excellent travel rewards and benefits, ideal for beginners and frequent travelers alike. The rewards program is one of the better ones out there, with the ability to pay off travel purchases at a flat rate and earn 2x rewards on every purchase.

The annual fee is easily offset by the value of included travel benefits, such as a $100 credit toward TSA PreCheck or Global Entry, several insurance coverage options, and lounge access in over 100 locations. The sign-up bonus alone is worth $750 when you book travel through the Capital One Travel portal.

Capital One provides access to 17 travel partners that allow you to transfer your miles. Most partners offer a 1:1 transfer ratio, meaning one Capital One mile is equivalent to one partner program point. Notable airline and hotel partner programs include Virgin Red, Flying Blue (Air France and KLM), British Airways, and Choice Privileges®.

There are occasional transfer bonuses, enabling you to earn more rewards by transferring your Capital One miles to a travel partner.

Overall, the Capital One Venture Rewards card is one of the best mid-tier travel cards available today. 

Pros

  • Earn at least 2x miles on everything
  • Great redemption value through transfer partners
  • Access to Capital One and Plaza Premium lounges
  • No foreign transaction fees

Cons

  • Annual fee
  • Limited category spending bonuses

Learn more about the Capital One Venture Rewards Card.

Welcome Offer

The Capital One Venture Rewards card is currently offering a welcome bonus of 75,000 miles after spending $4,000 within three months of opening the account. This bonus is worth $750 in travel rewards when booking through the Capital One Travel portal.

To be eligible for the welcome bonus, there are some qualifications, including:

  • You can’t have been approved for any Capital One credit card within the last six months (business or personal).
  • You can’t have received a new card member bonus for this card within the past 48 months.

Earning Rewards

The Capital One Venture Rewards Credit Card offers 2x rewards on everything, which is better than most competitor cards. But there are bonus categories that pay out even higher rewards:

  • 5x miles on auto rental purchases through the Capital One Travel portal
  • 5x miles on hotel purchases through the Capital One Travel portal

If you travel frequently, the 5x miles for these categories can add up. Plus, the 2x miles on regular spending gives you double the rate of most other mid-tier rewards cards.

Redeeming Rewards

Capital One offers simple redemptions for travel purchases, but you can also use your miles for other things. Here are the different ways you can use your Capital One miles:

Cover travel purchases

Capital One offers the option to ‘erase' past travel purchases at a rate of $0.01 per point. After an eligible transaction has been posted to your account, you have up to 90 days to redeem points to cover the purchase. Not only is this the easiest way to redeem points for travel, but it also provides a decent redemption rate.

Gift cards

You can redeem your Capital One Venture miles for gift cards through the Capital One Rewards portal. While the standard redemption values are $0.008 per point, some cards may go on ‘sale,' offering better redemption values. Nevertheless, this is not the best use of Capital One Rewards points.

Cashback

You can redeem our Capital One Rewards miles for cashback, either as a credit to your card or you can get a check mailed to your address. The redemption value is a paltry $0.005 per point, so this is probably the worst redemption value for Capital One Rewards points.

Capital One Travel portal

You can book travel directly through the Capital One Travel portal, including flights, hotels, and car rentals. You can also book Lifestyle Collection hotels and receive a $50 experience credit and free room upgrades (when available). The rate is the same here as for covering travel purchases: $0.01 per point.

When booking through Capital One Travel, you also receive 5x miles on eligible auto rental and hotel bookings. It’s important to compare prices, however, as you might end up paying more booking through Capital One Travel than just booking directly and using your miles to cover the purchase.

Transfer partners

Capital One has 17 travel partners that you can transfer miles to. There are only two hotel partners; the rest are airlines.

Here are the partners available with the Capital One Venture Rewards card:

  • ALL — Accor Live Limitless
  • Aeromexico Club Premier
  • Air Canada Aeroplan
  • Air France and KLM Flying Blue
  • Avianca LifeMiles
  • British Airways Avios
  • Cathay Pacific Asia Miles
  • Choice Privileges®
  • Emirates Skywards
  • Etihad Guest
  • EVA Air Infinity MileageLands
  • Finnair Plus
  • Qantas Frequent Flyer
  • Singapore Airlines KrisFlyer
  • TAP Miles&Go
  • Turkish Airlines Miles&Smiles
  • Virgin Red

Transferring miles to most partners offers a 1:1 transfer ratio, so one Capital One Rewards mile is worth one partner point. But in the case of EVA Air, there is a 2:1.5 transfer ratio, and ALL offers a 2:1 transfer ratio.

Transfer partners can offer a great redemption rate, with some rewards bookings offering $0.02 per point (or more). Just make sure to compare with booking directly before making a points transfer, as this action is irreversible. Once the miles leave your Capital One Rewards account, they cannot be transferred back.

Amazon and PayPal purchases

You can use your miles at checkout when paying with PayPal or using Amazon. This redemption is around $0.008 per mile, so it’s not the best use of miles. But it is easy to do once you connect your Capital One account to PayPal or Amazon.

Learn more about the Capital One Venture Rewards Card.

Family of four travelling with luggage: Capital One Venture Rewards Credit Card Review 2023

Additional Benefits

Here are a few additional perks of owning the Capital One Venture Rewards Credit Card:

  • Lounge access: You get access to Capital One lounges or Plaza Premium lounges with two complimentary passes per year.
  • Hertz Five Star status: Complimentary Hertz Five Star status is included when you register your card and apply with Hertz.
  • Auto insurance: Capital One offers primary insurance on your auto rental as long as you waive the collision insurance option with the car rental agency.

Who Should Get the Capital One Venture Rewards?

The Capital One Venture Rewards is ideal for casual travelers who want access to bonus points and some additional travel perks. This card comes with a generous sign-up bonus and flexible rewards miles, making it a great all-around travel card.

It’s also a great everyday spending card to earn travel rewards, as you earn 2x miles on every purchase, plus 5x miles on select travel purchases.

Learn more about the Capital One Venture Rewards Card.

Who Shouldn’t Get the Capital One Venture Rewards?

If you're a frequent traveler seeking enhanced travel perks such as unlimited lounge access, status upgrades, and additional travel credits, the Capital One Venture Rewards card may not be the ideal choice for you.

While it does provide some decent benefits, the Venture X Rewards card, its sibling, offers much superior perks that cater to the needs of frequent travelers.

Alternatives to the Capital One Venture Rewards

The Capital One Venture Reward card offers tremendous value for a low annual fee, but it’s not the only great travel rewards card on the block. Here are a few Capital One Venture Rewards alternatives to consider.

Capital One Venture Rewards vs. Capital One Venture X Rewards Credit Card

  • Rewards rate: 10x miles on hotels and rental cars booked through Capital One Travel; 5x miles on flights booked through Capital One Travel; 2x miles on all other purchases
  • Welcome offer: Earn 75,000 miles after spending $4,000 in the first three months
  • Annual fee: $395

. . .

While the Capital One Venture Rewards card provides numerous travel benefits at a low annual fee, its larger counterpart, the Capital One Venture X Rewards Credit Card, offers even more travel perks with a higher annual fee.

Despite the increased cost, the Venture X Rewards card can deliver substantial value, especially for frequent travelers who take full advantage of the extensive perks it offers.

Learn more about the Capital One Venture X Rewards Card or read our full review.

Capital One Venture Rewards vs. Chase Sapphire Preferred® Card

  • Rewards rate: 5x on travel purchased through Chase Travel℠; 3x on dining, select streaming services and online groceries; 2x on all other travel purchases; 1x on all other purchases
  • Welcome offer: Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening
  • Annual fee: $95
chase sapphire preferred

. . .

Chase and Capital One offer comparable rewards programs, and both the Capital One Venture Rewards card and the Chase Sapphire Preferred® Card offer travel perks, trip protections, and transfer partners.

While the Capital One Venture Rewards card offers lounge access, the Chase Sapphire Preferred® instead offers more free subscriptions and bonus spending categories.

Learn more about the Chase Sapphire Preferred® Card or read our full review.

Capital One Venture Rewards vs. American Express® Green Card

  • Rewards rate: 3x points on travel, transit, and restaurants worldwide, including takeout and delivery; 1x points on all other purchases
  • Welcome offer: Earn 40,000 Membership Rewards® points after spending $3,000 in the first 6 months
  • Annual fee: $150 (rates and fees)
American Express Green Card

. . .

Both Capital One and American Express let you redeem rewards points for travel, cashback, or gift cards, or you can transfer them to travel partners. Both the Capital One Venture Rewards card and the American Express® Green Card offer travel perks, credits, and bonus spending categories.

The Green Card offers a similar sign-up bonus and minimum spend requirement to the Venture Rewards card but with a higher annual fee.

All information about American Express Green Card has been collected independently by Erika.com. The card details on this page have not been reviewed or provided by the card issuer.

FAQs

What are Capital One Rewards points worth?

Capital One Venture Rewards points offer flexibility in redemption. They are worth $0.01 per point when used for travel. However, if you choose to redeem for Amazon, PayPal purchases, or gift cards, the value drops to about $0.008 per point. Opting for general cashback results in $0.005 cents per point.

The real value comes from leveraging transfer partners, allowing you to potentially achieve up to $0.02 per point or even more, depending on your chosen redemptions.

Do Capital One rewards points (or miles) expire?

No. As long as you keep your Capital One Venture card open, your miles or points will never expire. But if you close your account, unused miles or points may be forfeited. 

To Sum Up…

The Capital One Venture Rewards Credit Card is a great travel credit card that can also earn you cashback even when you have no travel plans. With 2x rewards points, it offers a higher earning value than many other credit cards, so you can rack up more points without having to spend more money.


Disclosure: Opinions expressed here are the author's alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.

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I'm an award-winning lawyer and personal finance expert featured in Inc. Magazine, CNBC, the Today Show, Business Insider and more. My mission is to make personal finance accessible for everyone. As the largest financial influencer in the world, I'm connected to a community of over 20 million followers across TikTok, Instagram, YouTube, Facebook and Twitter. I'm also the host of the podcast Erika Taught Me. You might recognize me from my viral tagline, "I read the fine print so you don't have to!"

I'm a graduate of Georgetown Law, where I founded the Georgetown Law Entrepreneurship Club, and the University of Notre Dame. I discovered my passion for personal finance after realizing I was drowning in over $200,000 of student debt and needed to take action-ultimately paying off my student loans in under 2 years. I then spent years as a corporate lawyer representing Fortune 500 companies, but I quit because I realized I wanted to have an impact; I wanted to help real people and teach them that you can create a financial future for yourself.

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Our aim is to help you make financial decisions with confidence through our objective article content and reviews. Erika.com is part of an affiliate sales network and receives compensation for sending traffic to partner sites, such as MileValue.com. This compensation may impact how and where links appear on this site. This site does not include all financial companies or all available financial offers. This in no way affects our recommendations or article content.

Advertiser Disclosure

Our aim is to help you make financial decisions with confidence through our objective article content and reviews. Erika.com is part of an affiliate sales network and receives compensation for sending traffic to partner sites, such as MileValue.com. This compensation may impact how and where links appear on this site. This site does not include all financial companies or all available financial offers. This in no way affects our recommendations or article content.

Advertiser Disclosure

Our aim is to help you make financial decisions with confidence through our objective article content and reviews. Erika.com is part of an affiliate sales network and receives compensation for sending traffic to partner sites, such as MileValue.com. This compensation may impact how and where links appear on this site. This site does not include all financial companies or all available financial offers. This in no way affects our recommendations or article content.