Do you spend your days dreaming about your next big getaway? Me too. Which is why I love credit cards that reward my travel spending. One such credit card is the Capital One VentureOne Rewards Credit Card. It makes it easy to earn points when you book hotels and rental cars or make everyday purchases.
There's no annual fee, so you get more room in your budget for even more travel spending. However, in exchange, this credit card lacks some of the more impressive travel perks that come with credit cards that charge annual fees (think statement credit for TSA PreCheck, airport lounge access, and airline upgrades).
And so, like any credit card, the Capital One VentureOne Rewards Credit Card comes with pros and cons to consider.
Quick Facts: Capital One VentureOne Rewards Credit Card
- Welcome offer: 20,000 bonus miles after spending $500 on purchases in the first three months
- Rewards rate: 1.25x miles on all purchases and 5x miles on hotels and rental cars booked through Capital One Travel
- Perks: Travel accident insurance, extended warranty, car rental collision damage waiver
- Annual fee: $0
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About the Capital One VentureOne Rewards Credit Card
Overall, the Capital One VentureOne Rewards Credit Card is a travel credit card that offers an effortless way to earn rewards. If you want to skip the fuss of trying to remember which credit card to use for every type of purchase, you may appreciate that this card makes earning rewards easy.
You earn 1.25x miles on every purchase and 5x miles on any rental car or hotel bookings made through Capital One Travel.
When it comes to redeeming miles, you can do so when booking travel through Capital One Travel. You also have the option to use earned miles to receive reimbursement for past travel purchases made elsewhere. If you don’t have any big upcoming travel plans, you can always redeem miles as a statement credit.
The good news is that your rewards won’t ever expire as long as you keep your account open and there is no limit on how many miles you can earn.
- Various rewards redemption options
- No annual fee
- Limited reward-earning potential
- Unexciting travel benefits
When you first open a Capital One VentureOne Rewards Credit Card, you can earn a substantial welcome bonus of 20,000 bonus miles. How? By spending $500 on purchases within the first three months from account opening. For most spenders, this should be a fairly easy threshold to meet.
How to Earn Rewards
If you like to keep things simple, you will appreciate that the Capital One VentureOne Rewards Credit Card allows you to earn rewards in two primary ways:
- Earn 5 miles per dollar when you book hotels and rental card through Capital One Travel
- Earn 1.25 miles per dollar on any other purchase you make
One of the major perks of the VentureOne Rewards is that you won’t ever hit an earning cap on rewards. You also don’t have to worry about your points expiring if you don’t redeem them right away — they won’t expire as long as you keep your account active.
Benefits and Perks
Swiping the VentureOne Rewards will earn you rewards, but if you don’t plan on spending much in the near future, you can still benefit from having this credit card in your wallet.
Some of the standout benefits associated with the Capital One VentureOne Rewards Credit Card include:
- No foreign transaction fees
- Travel accident insurance
- Emergency card replacement
- Free extended warranty protection
- Car rental collision damage waiver
- Access to Capital One Shopping discounts
- Option to make Amazon purchases with rewards
- PayPal reward redemption
- Capital One Travel savings
Who Should Get This Card?
The best travel credit cards come with much more enticing perks than the VentureOne Rewards card, but they also come with steep annual fees.
If you love to travel but aren’t ready to pay an annual fee for a credit card, then the Capital One VentureOne Rewards Credit Card is a solid travel card option to consider. You can simply take advantage of rewards points, cardholder benefits, and the welcome bonus — and if you pay off your balance in full each month, you won’t have to worry about interest payments.
Who Shouldn’t Get This Card?
When it comes to who shouldn’t get the VentureOne Rewards card, I'm looking at any homebodies who prefer Netflix and takeout to hitting the open road. A cashback credit card that rewards purchases like food delivery and streaming services (or offers discounts and free memberships for these services) may be much more lucrative than a travel rewards credit card.
Unless you plan to travel often and feel comfortable booking your travel through Capital One Travel (which is the key to earning that bonus five points per dollar on select travel purchases), then you are better off looking for another credit card that offers rewards more in line with your daily spending habits.
Alternative Credit Cards
There is no shortage of travel credit cards to choose from on the market if you decide the Capital One VentureOne Rewards Credit Card is not the best option for you.
Capital One VentureOne Rewards Credit Card vs. Discover it® Miles
With the Discover it® Miles, you can actually earn more on purchases (1.5 miles per dollar instead of 1.25). The welcome bonus is also much more enticing if you have a bunch of trips planned in the next year, as it includes an unlimited match of any miles you earn in your first year.
Which welcome bonus is better for you depends entirely on your spending plans for the first year of being a cardholder.
Capital One VentureOne Rewards Credit Card vs. Chase Freedom Flex℠
The Chase Freedom Flex℠ functions quite differently from the Capital One VentureOne Rewards Credit Card. With the Chase Freedom Flex℠, you earn 5% cash back on up to $1,500 in combined spending in categories that rotate each quarter. However, you do have to remember to activate the bonus categories.
On top of that, you’ll consistently get 5% cash back on travel purchased through Chase Ultimate Rewards®, 3% on dining and drugstore purchases, and 1% on all other purchases.
Neither of these credit cards comes with an annual fee, but you do have to pay a foreign transaction fee of 3% when using the Chase Freedom Flex℠ abroad.
If you are willing to stay on top of the rotating rewards (it can help to plan big purchases for when the right reward category strikes), you stand to earn more with the Chase Freedom Flex℠. However, the VentureOne Rewards is a much simpler option, especially for travel lovers.
Capital One VentureOne Rewards Credit Card vs. Capital One Venture X Rewards Credit Card
If the Capital One VentureOne Rewards Credit Card appeals to you but you want to step things up a notch, you may find the Capital One Venture X Rewards Credit Card is what you're looking for. You will have to pay an annual fee of $395 for this credit card but it’s easy enough to cancel that fee out with some of the card’s lucrative benefits.
To start, every year you gain access to a $300 annual travel credit. If you are confident you will use that travel credit each year without fail, you can cancel out most of the credit card’s annual fee that way. You can also receive up to a $100 credit for Global Entry or TSA PreCheck, but that isn’t a perk you can use annually.
With this credit card, you earn 10x miles on hotels and rental cars booked through Capital One Travel, 5x miles on flights booked through Capital One Travel, and 2x miles on all other purchases.
You have to have excellent credit to qualify for the Venture X Rewards, but you’ll earn rewards a lot quicker than you would with the VentureOne Rewards.
The Capital One VentureOne Rewards Credit Card is a solid option if you're looking for a travel credit card with no annual fee. You can earn and redeem miles easily without jumping through any hoops — and if you're not traveling any time soon, you can still use the miles as statement credit.
If you're a frequent traveler, there are higher-earning cards out there with bigger perks, but just keep in mind they tend to come with a hefty annual fee.
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.