34 Benefits of Using the Capital One® Venture® Card

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U.P. Rating for Capital One® Venture® Rewards Credit Card Review:

If you haven’t checked out any personal Capital One credit cards lately, you may be surprised at some of the positive enhancements.

Not only has the earning potential been stepped up with a Hotels.com relationship (ends January 31, 2020) but having the ability to transfer Capital One Miles to airline programs adds additional value when it comes to redemption time.

You still won’t find a lot of bells and whistles or luxury travel perks with Capital One credit cards, but there’s enough value now to merit consideration.

We’re focusing on the Capital One® Venture® Card today because the card stands out as the Capital One flagship credit card. It’s the card that fostered the marketing phrase, “What’s in your wallet?” because it earns double miles on every purchase.

But double miles is so last year as the card has morphed into more than just a double miles earner. Let’s take a look at some of the earning and redemption enhancements that have added value to being a Capital One® Venture® Card cardholder.

Initial Benefits

Annual Fee Waived the First Year

Although the Capital One® Venture® Card charges a $95 annual fee, the fee is waived the first year. You’ll have an entire year to try out the card at no cost.

Generous Sign-up Bonus

Sign-up bonuses vary, but you can typically count on hundreds of dollars worth of Capital One Miles when you’re approved for the Capital One® Venture® Card.

The bonus is paid out if you meet the initial spending requirement generally within the first 3 months after card approval.

Aruba Resort
Earn 10 miles per dollar spent when booking hotels with Hotels.com/venture (ends January 31, 2020). Image courtesy of Christine Krzyszton.

Earning Rewards

Earn on Every Purchase

With the Capital One® Venture® Card, there are no complicated bonus categories or earning structures to navigate. You simply earn 2 miles per dollar on every purchase you make.

Using your card for all your everyday spending, travel, and miscellaneous expenses can really add up. $25,000 per year would equal $500 or more in travel value toward that family vacation you’ve been dreaming of.

Earn Big on Hotel Purchases

Earn big when you pay for any of thousands of hotels with your Capital One® Venture® Card. Just go to Hotels.com/venture, find any hotel, anywhere, anytime, and pay with your Capital One® Venture® Card (ends January 31, 2020).

You’ll receive 10 Capital One Miles per dollar you spend on Hotels.com/venture (ends January 31, 2020). For example, spend $300 and you’ll receive 3000 Capital One Miles!

Earn Free Hotel Nights

When you sign up for Hotels.com rewards and book your hotel stays on Hotels.com/venture, your nights qualify for Hotel.com rewards (ends January 31, 2020)!

Stay 10 nights and earn a free night certificate! Plus, you’ll be earning 10 Capital One Miles for every dollar.

Unlimited Earnings

No matter how you earn Capital One Miles, there’s no limit on how many you can earn.

For additional information on earning Capital One rewards on all Capital One credit cards, check out our list of the best ways to earn lots of Capital One rewards.

Bottom Line: You’ll earn 2 miles for every dollar you spend on your Capital One® Venture® Card and 10 Capital One Miles when you use Hotels.com/venture (ends January 31, 2020). There’s no limit on how many miles you can earn. 

United Polaris Middle Seats
Transferring Capital One Miles to fly in United Polaris Business class is a great way to fly to Europe! Image courtesy of united.com.

Redeeming Capital One Miles

Capital One Miles are simple to earn and easy to redeem.

Hot Tip: Don’t miss our dedicated post on The Best Ways to Redeem Capital One Miles [For Max Value]!

Transfer Miles to Airline Partners

Capital One Miles aren’t really airline miles, but you can turn them into real airline miles by transferring them to your airline’s frequent flyer program.

Capital One Miles can be transferred to more than a dozen airline partners so you can utilize those miles to purchase award tickets. This option can result in getting greater than 1 cent per mile value for your miles.

For instructions on how to transfer your Capital One Miles to airline partners and a collection of some very creative flight redemption ideas, check out the best ways to use Cap One miles.

Purchase Eraser

You’ll never have to worry about being able to use your Capital One Miles for travel.

Simply purchase the travel you want using your Capital One® Venture® Card. You’ll then have 90 days from the date the purchase hits your account to use Purchase Eraser to get a statement credit.

Purchase Eraser allows you to redeem your miles at 1 cent each towards travel purchases. Partial redemptions for travel purchases are also available.

Travel Purchases

Another option to redeem your Capital One Miles for travel is to book directly on Capitalone.com or call the Capital One Rewards Center.

You’ll receive 1 cent per mile value towards travel purchases. For example, if your travel purchase is $200, you’ll need to redeem 20,000 points to cover the purchase.

Use Capital One Miles to Pay for Experiences

Whether it’s a foodie tour of New Orleans, an island cruise to the Bahamas, or a hike up the Eiffel Tower, you can use your Capital One Miles to erase the travel purchase from your statement.

Since the Capital One Purchase Eraser wipes out travel expenses with a statement credit, any purchase that codes as travel can be covered with your Capital One Miles.

For an in-depth look at how to use credit card rewards to book experiences, our complete guide to booking experiences with credit card rewards has some surprising ideas!

Redeem for Gift Cards

It’s possible to receive more than the standard 1 cent per mile when you redeem your Capital One Miles for gift cards. Compare redemption prices and look for specials to receive the best value for your miles.

Redeem for Cash-back

Redeeming your Capital One Miles for cash is not good value, but it is an option. You’ll only receive half a cent in value per mile redeemed.

Capital One Miles can no longer be redeemed for charitable donations via the Capital One Giving Site as it has been discontinued.

You can, however, transfer your Capital One Miles to one of the airline partner programs and donate your miles through the airline’s donation program.

No Minimum Redemption Amount

You can redeem even a small amount of miles from your account as there is no minimum redemption requirement.

Miles Never Expire

As long as you have an active Capital One account open and in good standing, your miles never expire. You will forfeit your miles if your account is closed, so be sure to use all of your miles before closing your account.

Hot Tip: Redeeming Capital One Miles by transferring to airline partners and for some gift cards can result in receiving a value in excess of the standard 1 cent per mile. 

Transfer Capital One Miles to Other Accounts

Capital One Miles offer the flexible option of transferring the miles to another account. The account holder you’re transferring to or from just needs to have an active Capital One Miles account.

There’s no charge for transferring Capital One Miles.

Capital One pre qualify
Find out risk-free if you’re pre-qualified for Capital One credit cards. Image courtesy of Capital One.

Risk-Free Offers for Capital One Credit Cards

Pre-Qualification Tool

Capital One has created a stress-free way to find out if you’re pre-qualified for one of their credit cards. Their pre-qualification inquiry process isn’t a formal credit card application, so no credit check is done.

The tool is designed for you to find out quickly and easily if you may be pre-qualified for a Capital One credit card. Just complete the simple form and submit it to see if you’re pre-qualified. It takes less than 60 seconds for the results.

Being pre-qualified isn’t a guarantee that you will ultimately get approved for a particular card. It does, however, give you an idea of which credit cards you’re most likely to qualify for.

Capital One Participates with Card Match

There’s another option for accessing credit card offers that may be waiting for you, including offers from Capital One. The Card Match Tool is a risk-free way to see if you already have credit card offers available to you.

Your credit report isn’t accessed so there’s no risk in checking it out. For additional information, check out our guide on how you can find pre-qualified and pre-approved credit card offers.

Bottom Line: Prior to applying for a Capital One credit card, be sure you utilize their pre-qualification tool to see which cards you’re most likely to get approved for. 

Travel Protections and Benefits

$100 Global Entry or TSA PreCheck Credit

Just charge your Global Entry or TSA PreCheck fee to your Capital One® Venture® Card, and you’ll receive a statement credit in the amount of the fee, up to $100. You can receive this benefit once every 4 years.

Hot Tip: Not sure about Global Entry? Check out our piece on the Top Global Entry FAQs

No Foreign Transaction Fees

There’s nothing worse than having 3-5% added on to your foreign purchases. There are no foreign transaction fees with the Capital One® Venture® Card.

Rental Car View
Visa Signature benefits on the Venture Rewards card include collision damage waiver for rental cars. Photo courtesy of Shutterstock.

Auto Rental Collision Damage Waiver

Rent a vehicle using your Capital One® Venture® Card and refuse the car rental agency’s collision damage coverage. You’ll receive secondary coverage for collision damage and theft on a domestic car rental and primary coverage for international rentals.

Rentals cannot exceed 15 days within your country of residence and 31 days outside of your country of residence.

Travel Assistance Services

Receive 24/7 access to emergency legal, medical, and transportation assistance while traveling. Your spouse and dependent children (under 22 years of age) are also covered.

The cardholder is responsible for any costs incurred for referred services.

Travel Accident Insurance

When there’s a personal injury loss on a common carrier, and you’ve paid with your Capital One® Venture® Card, you may receive up to $100,000 for a covered loss.

Lost Luggage

Pay for your ticket with your Capital One® Venture® Card and receive up to $3,000 ($2,000 for New York residents) if your luggage is lost or stolen.

Roadside Dispatch

Receive 24/7 service assistance for towing, gas, tire changing, jump starting, and lockout service. Service calls are priced at a flat $59 for cardholders.

Premium Visa Travel Benefits

Enjoy perks at Visa Signature Luxury Hotel Collection properties, VIP access to events, and access to your own Visa Signature Concierge 24/7.

Shopping Protections and Benefits

Extended Warranty

Purchase a qualifying item entirely with your Capital One® Venture® Card and have the original manufacturer’s warranty period doubled in length.

For example, if you have a manufacturer’s warranty of 2 years, you would receive an additional 2 years when you purchase the item on your Capital One® Venture® Card. The original warranty must be 3 years or less.

Purchase Security

Purchase an eligible item and receive 90 days of coverage (from the purchase date) for theft or damage. There’s a limit of $500 per claim.

Account Management and Security Features

Capital One Mobile App

Manage your account on the go with the Capital One mobile app. You can check your balance, track your purchases, and even pay your bill.

Check Your Credit for Free

With CreditWise®, you can access and monitor your credit score for free. You don’t even have to be a cardholder to use CreditWise®.

Eno® the Virtual Account Assistant

Eno® tracks your account 24/7 and alerts you of suspected fraud, answers your inquiries, and helps you shop online safely.

Add an Authorized User

Add a user to your account and track their spending.

Custom Account Alerts

Set up your account alerts for unusual activity, large purchases, or other specific card activity so you’re never surprised.

Zero Fraud Liability

You are not liable for unauthorized purchases on your card.

Hot Tip: The Capital One® Venture® Card comes with the added value of Visa Signature Benefits.  You can access the Capital One Visa Signature Benefits Guide and specific information on each benefit here. 

Final Thoughts

If you’re looking for luxury travel perks such as free lounge access, airline and hotel statement credits, and elite status, you’re not going to find any of these on the Capital One® Venture® Card. What you will find is a solid reward-earning card with flexible redemption options.

It’s a card you can keep in your wallet and know you’ll be earning double miles on every purchase you make and 10X earnings on Hotels.com/venture (ends January 31, 2020). And when it comes time to redeem your miles, you’ll find a variety of flexible options.

If you’re a frequent traveler and looking for a more travel-focused rewards card, our list of the best travel rewards credit cards gives you all the information you need to select the right card for your travel style.

Have more questions? Check out our piece: 18 FAQ’s About the Capital One® Venture® Card [Transfers, Perks, Value & More]!


Featured Image: Courtesy of Capital One

FAQ

How does the Capital One® Venture® Card work?

With a simple earning structure of 2 miles per dollar spent on every purchase and 10 miles per dollar spent specifically at Hotels.com/venture (ends January 31, 2020), the card is easy to use and earn miles.

Redeeming is simple too. The best value comes from transferring miles to airline partners and redeeming for some gift cards.

With that said, the Purchase Eraser redemption option works easily for erasing any travel purchase from your statement at a 1 cent per mile value.

Can I use my Capital One Miles on any airline?

You’ll never have to worry about using your miles for airline flights.

This is because you can transfer your miles either to airline partners or use the miles for a travel statement credit after your purchase is made with any airline using your card.

Capital One Miles aren’t real airline miles but you can transfer them to airline frequent flyer programs and use them to book award tickets.

Transfers are limited to more than a dozen programs currently but more are being added.

You can book travel on any airline, however, by using your Capital One® Venture® Card for the purchase then use your miles to wipe out the purchase with Purchase Eraser.

What are Capital One Miles worth?

Generally Capital One Miles are worth 1 cent each.

Redeeming miles for cash or some gift cards can result in a value of less than 1 cent.

Redeeming miles by transferring to airline partners or for some gift cards can result in a value greater than 1 cent per mile.

Redeeming miles for a statement credit against previous travel purchases with Purchase Eraser results in a value of 1 cent per mile.

What credit score do I need for a Capital One® Venture® Card?

You will need an excellent credit score to get approved for a Capital One® Venture® Card.

While definitions vary, a score of 740 or higher would be considered excellent. If you’re considering a Capital One credit card, use the pre-qualification tool first to see which credit cards you may qualify for.

Is paying the annual fee worth it?

Capital One waives the $95 annual fee the first year.

This gives you an entire year to determine if the card is worth it to you to pay a subsequent annual fee.

The value you receive is really the bottom line as to whether the fee is worth it or not to you.

For example, if you receive $500 worth of travel in the first year from the sign-up bonus, that value definitely covers a few years of annual fees.

Earn a couple of free hotel nights from your Hotels.com purchases each year and you’ve covered the annual fee (ends January 31, 2020).

Or if you spend enough on the card to earn value beyond the annual fee and then yes, the fee is worth it.

If you don’t receive value from the card that exceeds the cost of the annual fee, then it’s not worth it.

Christine Krzyszton

About Christine Krzyszton

Christine, who lives in Northern Michigan, travels about 300,000 miles a year despite her remote location. Her expertise is traveling the world on a weekend with no pre-determined destination in mind, letting the cost of the airfare determine where she will go. She has over four million flown miles and elite status on all three major domestic carriers.

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