Capital One Venture Rewards Credit Card Review

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

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Overview of the Capital One Venture Rewards

The rewards program for the Capital One Venture Rewards Credit Card is one of the better ones out there, with the ability to pay off travel purchases at a flat rate and earn rewards on every purchase.

The annual fee is easily offset by the value of included travel benefits, such as a $120 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 15+ 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. 

LEARN MORE: Capital One Venture Rewards Credit Card

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 by booking through Capital One Travel than just booking directly and using your miles to cover the purchase.

Transfer partners

Capital One has more than 15 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: Capital One Venture Rewards Credit Card

Additional Benefits

Here are a few additional perks of owning the Venture Rewards:

• Lounge access: Two complimentary passes per year for Capital One lounges or Plaza Premium lounges
• Hertz Five Star status: Complimentary Hertz Five Star status when you register your card and apply with Hertz
• Auto insurance: 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 Credit Card 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.

Who Shouldn't Get the Capital One Venture Rewards

If travel a lot and want enhanced travel perks like unlimited lounge access, status upgrades, and additional travel credits, the Capital One Venture Rewards card may not be for you.

Instead, its sibling card, the Venture X Rewards, offers much superior perks for frequent travelers.

Alternatives to the Capital One Venture Rewards

For more travel perks: Capital One Venture X Rewards Credit Card

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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: Capital One Venture X Rewards Credit Card

For more earning categories: Chase Sapphire Preferred® Card

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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: Chase Sapphire Preferred® Card

For comparable rewards: American Express® Green Card

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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. 

The Bottom Line

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. It offers a higher earning value than many other credit cards, so you can rack up more points without having to spend more money.

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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.