» Capital One Venture Rewards Credit Card Review

Capital One Venture Rewards Credit Card

The Capital One Venture card is a reward credit card from Capital One’s range of Visa cards that offers great rewards and a fairly low APR at the same time. A cardholder needs an excellent credit history to qualify for this card.

Offering double miles for every purchase made and no foreign transaction fees being charged, makes the Capital One Venture credit card an excellent choice for frequent travelers. Miles can be redeemed against any travel expense and new accounts even get a 0% introductory annual fee during their first year, while being able to earn 10,000 bonus miles at the same time.

The Capital One Venture reward credit card offers 2 miles per dollar spent with every purchase; a one-time bonus of 10,000 miles can be earned, once a customer has spent $1,000 in the first 3 months from the date of signing up. There is no annual fee payable in the first year, after which the fee charged is just $59 per annum.

Good news for customers wishing to transfer from another card: there is no transfer fee being charged and the transfer APR is 11.9% to 19.9%, depending on creditworthiness.

For purchases the APR applicable is 11.9% to 19.9% variable, but again, the actual rate offered depends on a customer’s creditworthiness.

The grace period is 25 days on purchases. Cash advance fees are 3% of cash advance with a minimum of $10. Cash advances come at rather a high interest rate of 24.9% variable APR, but for frequent travelers the cheery news is that there are no foreign transaction fees whatsoever.

The Capital One Venture reward credit card benefits from the Visa Signature Concierge Service, allowing cardholders to upgrade at choice hotels or get good tickets for shows or games.

On the travel side of things the card offers cardholders the chance to redeem their reward miles against any travel, gift cards, charity donations or merchandise. Travel can be booked anywhere, with any travel agent or shop or online and the miles can be redeemed before, during or after a trip.

The travel is not restricted either – it can be a cruise, an air ticket, a hotel room or rental cars, even taxi expenses are offered. There are no blackout times, no restrictions on seats or anything that would prevent a Capital One Venture cardholder to fully exploit the benefits and reward scheme on offer.

Reward miles can be redeemed up to 90 days after the purchase. All a cardholder needs to do is to go online to his or her account, find the relevant section and click Request Travel Credit and the miles are redeemed instantly.

Using the Capital One Venture reward credit card for everyday purchases like filling up at the gas station or buying groceries can soon clock up the miles, indeed 30,000 miles are not uncommon for cardholders, who spend an average of $1,250 per month on everyday things.

Travel Rewards Don't Get Easier Than This: Capital One® Venture® Rewards Credit Card

Venture capital one credit cards

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Venture capital one credit cards

Plenty of credit card users are fed up with the game that frequent flyer programs have become. Credit card users dutifully earn tens of thousands of frequent flyer miles, sometimes over the course of years, with the hopes of redeeming these miles for award flights. In many cases, their hopes are dashed when they discover that the airlines have allocated scant award seats at the lowest mileage levels. In other cases travelers are hit with taxes, fees, and surcharges for award flights that they were led to believe were free.

Capital One perfectly captured this frustration in a series of advertisements, like this one, that feature comedian David Spade informing credit card users that they can't actually use their miles. The solution offered by Capital One is their No Hassle miles that can be redeemed for statement credits toward any travel expense with the Capital One® Venture® Rewards Credit Card.

  • One-time bonus of 40,000 miles
  • Unlimited 2x miles on purchases
  • No foreign transaction fees

This card offers double miles on all purchases. Once earned, these "miles9quot; can be redeemed for a statement credit towards travel purchases, such as airfare, hotels, car rentals, or cruises. Miles are worth one cent each, so each dollar spent returns 2% back in reward value. Cardholders simply log into their account on Capital One's website, select travel expenses, and apply for reimbursement. In my experience, reimbursement came quickly.

Bonus offer: You'll receive a one-time bonus of 40,000 miles (equal to $400 in travel) after you spend $3,000 in purchases on your card within 3 months from account opening.

  • $59 Annual Fee (waived for the first year)
  • 13.99%-23.99% variable APR
  • $0 Balance Transfer Fee
  • $0 Foreign Transaction Fee

Generous bonus. You get a one-time bonus of 40,000 miles when you spend $3,000 on purchases within 3 months from account opening equal to $400 in travel.

Flexible rewards program. Use rewardsany flight on any airline or stay with any hotel with no blackout dates. Most travel charges are eligible. This gives you the most freedom to redeem your hard earned miles for actual travel. (See also: Best Travel Rewards Credit Cards)

No foreign transaction fees. Many credit cards charge up to 3% for foreign transaction fees. With this card, you can feel confident using it for your travel bookings, as well as while you're on your trip. (See also: Best Credit Cards without Foreign Transaction Fees)

High interest rates. Cardholders can expect a standard variable APR of 13.99%-23.99%, based on their creditworthiness. That said, those who carry a balance should forget about reward cards and look for a product with the lowest possible interest rate. (See also: Best Credit Cards with Low Interest Rates)

Annual fee. If you don't get at least the annual fee's worth in miles each year, you should find another card that will give you better value.

This is the ideal card for users who want flexibility in their travel redemption, and will make enough charges each year to make up for the annual fee. By combining competitive rewards and a flexible redemption program, the Capital One Venture Rewards card can be a great choice for those who aren't interested in playing games with points and miles.

Capital One Venture Rewards Credit Card Review (Updated 2016)

Venture capital one credit cards

The Capital One Venture One Rewards credit card is a solid, flat rate miles rewards credit card issued by Capital One Bank. This card will allow you to accumulate travel miles quickly which can be redeemed for a variety of travel purchases. This review will tell you all you need to know about the Capital One Venture One Rewards Credit Card.

Our Favorite Things About This Card

  • 0% Introductory Offer: You will enjoy a 0% introductory A.P.R. on all purchases until February 2017. This would allow you to make a big purchases with the card and slowly pay it off without have to pay any interest. After the intro period a variable A.P.R. ranging from 12% to 22% applies.
  • Earn unlimited 1.25 Miles: This card will award you with an unlimited 1.25 miles per $1 spent on all purchases. This is great as you don’t have to worry about limits on how many miles you can earn. If you spend $10 000 with this card in a year, you will earn 12 500 miles.
  • Miles do not expire: This miles earned on this card do not expire, allowing you to accumulate miles for as long as you want before you redeemed them.
  • 20 000 miles bonus offer: This card will award you with 20 000 bonus miles after you spend $1000 within the first 3 months of card opening. This is equal to $200 worth of travel, its basically free money.
  • No foreign transaction fee: This card does not charge you a fee when you use this card in a foreign country or use this card to pay for something in a foreign currency. This makes the card great to use while travelling abroad. Many cards charge a fee of 3% which can add up to a lot of money.
  • No annual fee: This card will not charge you an annual fee, this is great as you don’ t have to factor in the annual fee to see how much you are really benefiting from the rewards. Many similar cards to this card, do have an annual fee.
  • Many redemption options: You can redeem your miles for a wide variety of travel purchases such as hotel stays, flights, cruises, vehicle rentals, and vacation packages, pretty much any travel expense that is charged to this card. You can also redeem your miles as a statement credit if you prefer.
  • Visa Signature Benefits: If you get the Visa Signature version of this card, you will receive many more benefits and perks. If you have excellent credit, and high income, there’s good chance you will qualify for following Visa Signature Benefits:
    • Complimentary Concierge Service: If you need assistance with anything related to the credit card, you can call the concierge service. They will help you find and book travel deals, make reservations, book flights and more.
  • Vehicle Rental Insurance: If you use this card to pay for your vehicle rental, you will be covered for any possible accidents and theft.
  • Extended Warranty: Any items you purchases with this card will automatically have extended warranty applied to them.
  • Purchase Security: If an eligible item purchased with the card is either damaged or stolen you can be reimbursed up to $500 per claim. A unique feature most cards don’t have.
  • Roadside Assistance: You will receive roadside assistance if your car breaks down, or if you get locked out of your vehicle. Each service call will cost $59, however this includes any towing you might need, as well as tire changing, battery jump starting, and a lockout service. This can save you a lot of money as towing can cost up to $200 to $300.
  • Lost Luggage Coverage: If any of your luggage is lost when travelling on any airline, you will be covered for up to $3000. In order to qualify for this service, you will have to have charged the full cost of your travel booking on the credit card.

Things We Dot Not Like About The Capital One Venture One Rewards Credit Card

  • High cash advance fee: This card charges a cash advance fee of either $10 or 3%, whichever is greater. You will be charged this fee overtime you use the card to withdraw cash from an A.T.M. If you are withdrawing a large sum of money the fee will be hefty, so try to avoid using his card to withdraw cash.

Who The Capital One Venture One Card Best Suits

  • Those looking for a travel card that does not have an annual fee.
  • Those looking for a card they can use while travelling with no foreign transaction fees.

How The Capital One Venture One Compares With Similar Cards

Capital One Venture Rewards Credit Card

Many people wonder what the difference between the Capital One Venture One Rewards card vs Capital one Venture Rewards card is. The Venture One card does not have an annual fee while the Venture card does have a $59 annual fee, although the fee is waived in the first year. Furthermore, the Venture One card awards 1.25 miles per every $1 spent, while the Venture card awards 2 miles per $1 spent.The bonus offer is different as well as the Venture One card awards you with the 20 000 miles, while the Venture card awards you 40 000 miles after you spend the first $3000 in the first 3 months. This is equivalent to $400 in travel which is double the bonus you get on the Venture One card. The Venture One Card has a 0 % intro A.P.R. until February 2017 while the Venture card does not have the intro offer.

If you are a big spender you would benefit more from the Venture card as it awards a higher rate on miles. However if you do not think you will spend enough to make up for the annual fee then the Venture One card is the better choice.

Discover IT Miles Credit Card

This credit card has a great bonus offer as Discover will double all the miles you have earned at the end of your first year. So if you have earned 25 000 miles, Discover will award you with an additional 25 000 miles. This card also has an intro offer, as it features 0% intro A.P.R. on all purchases for 12 months. After the 12 months the A.P.R. ranges from 13% to 23%. It also features a intro A.P.R. of 10.99% on all balance transfers for 1 12 months. Both cards do not have an annual fee, and both do not have a foreign transaction fee. This card has a higher rewards rate as you will earn an unlimited 1.25 miles per $1 spent. Depending on how much you spend, the bonus offer on the Discover card could be more or less then the Venture one bonus. If you will spend a lot, then you will benefit more from the Discover IT card. Another benefit this card has is the ability to track your FICO score online, which will be updated monthly. If you are a big spender you will get more value out of the Discover IT card.

Bank Americard Travel Rewards Credit Card

This card is another travel rewards card that awards the user points rather then miles. You will earn an unlimited 1.5 miles per $1 spent on all purchases. This card has a nearly identical bonus offer as you will earn 20 000 bonus points after you spend the first $1000 in the first 3 months of card opening. This is equivalent to $200 in travel, just like the Venture One card. Both cards do not have an annual fee or a foreign transaction fee. This card has a introductory offer of 0% intro A.P.R. for the first 12 months on all purchases, after the intro period, a variable A.P.R. ranging from 15% to 23% applies.The Venture one card has a slightly lower interest rate then this card. The points are redeemed similar to the Venture One card, as you can redeem your points for a statement credit that can be used for flights hotels, cruises, auto rentals and vacation packages. Overall these cards are nearly identical except for the fact that this card offers 1.5 points per $1 spent, compared to the 1.25 miles earned with the Venture One card. You really can’t go wrong with either card.

Should You, Or Shouldn’t You, Our Final Verdict

Overall, the Capital One Venture One Rewards card is a high quality card that offers good value in all areas. For a card with no annual fee, you get several benefits including no foreign transaction fee. This card has everything you would really want in a credit card. However, with that being said, if you are a big spender you could get a higher rewards rate with others cards, such as the Chase Sapphire Preferred card. Cards such as the Chase Sapphire Preferred will have an annual fee, however if you are a big spender you the benefits will outweigh the annual fee.

To sum things up, if you are an average spender, then you should get this card as it has everything you would want in a travel reward card.

Review: Capital One Venture Credit Card

Last week, I wrote a review of the BarclayCard Arrival Plus Credit Card. The Arrival Plus card and Capital One’s Venture share many similarities and lead me to the same conclusion.

Capital One Venture’s signup bonus is worth $400 towards travel expenses and that is certainly worth the effort, but like Arrival Plus, the value ends there.

Venture capital one credit cards

  • Earn 40,000 bonus miles after you spend $3,000 on purchases in the first 3 months
  • Earn unlimited 2X miles on all purchases
  • Visa Signature Benefits
  • No foreign transaction fees
  • $59 annual fee (waived the first year)

Capital One Venture uses the word “miles” to describe the rewards that you earn when you spend using the card. What exactly is a mile? Well, it’s a like a penny–only not exactly a penny because you must spend it on travel.

Like the BarclayCard Arrival Plus, this is simply a marketing gimmick–clearly a good one given both cards’ popularity. In reality, these are simply cashback cards with redemption restrictions.

2x miles on all purchases is the same as 2% cash back, except miles must be redeemed for travel expenses. By comparison, Citi Double Cash earns the same 2% on all purchases that you can redeem for cash deposited right into your bank account (not restricted to travel) for no annual fee. With the Venture card, you’re effectively paying a $59 annual fee for the “privilege” of being restricted on how you redeem your cash back and benefits that you can get for free with cards.

I would apply for Capital One Venture for the signup bonus if you have some travel plans in the near future. I don’t recommend ever keeping it once the annual fee is charged.