31 Benefits of the Capital One® VentureOne® Rewards Credit Card

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

Capital One likes to keep things simple. As a result, their collection of credit card offerings tend to fall short of being exciting.

Sure, if you have bad credit or no credit, you’ll find cards that can help you build or rebuild your credit history. And if you’re a foodie, you’ll find they have a card that caters perfectly to your tastes.

But what you won’t find with Capital One credit cards are luxury travel benefits or a long list of bonus earning categories. Simplicity has always been a priority for Capital One. That is, until now.

Capital One has recently improved earning and redemption options on their miles-earning credit cards.

With sweetened earnings on hotel purchases and the added ability to transfer miles to airline partners, Capital One has now created some modest excitement for their travel rewards cards.

Today we’re going to focus on the Capital One® VentureOne® Rewards Credit Card and how it treads water respectively in a crowded sea of rewards-earning credit cards.

Initial Benefits

Sign-Up Bonus

Sign-up bonus offers vary depending on when you’re approved, but one thing you can count on is a jump start in earnings that will contribute nicely to your travel fund!

Once you’ve been approved for the card, you’ll need to complete the minimum spending requirement within the first 3 months from the date of card approval to qualify for the bonus.

No Annual Fee

The Capital One® VentureOne® Rewards Credit Card doesn’t charge an annual fee.

Shell gas station
Turn everyday purchases into travel dollars with your Capital One card. Image courtesy of Shell.

Earning Capital One Rewards

Earn Miles on Every Purchase

Every purchase you make on the VentureOne® Rewards Credit Card is going to earn 1.25 miles for every dollar spent. You’ll want to keep the card in your wallet for those everyday expenses so the earnings can add up quickly.

Earn Big on Hotel Purchases

The fastest way to earn Capital One miles is by booking hotels through Hotels.com/venture (ends January 2020). When you do, you’ll receive 10 miles for every dollar you spend on the card.

Earn Free Hotel Nights

With your VentureOne® Rewards Credit Card, you can double dip on earnings.

That’s because you can sign up for the Hotels.com rewards program and receive 1 hotel night free for each 10 paid hotel nights. Plus, you’ll be earning 10 miles per dollar on those paid nights (ends January 2020).

Earning free nights while you’re earning 10x miles — that’s a win-win!

Miles Don’t Expire

As long as you have an open, active account, your miles will not expire. Should your account be closed, any miles that have not been redeemed will be forfeited.

No Limit on Earning

There’s no limit to the amount of Capital One miles you can earn with the card.

Bottom Line: While every purchase on your Capital One® VentureOne® Rewards Credit Card earns 1.25 miles for each dollar spent, hotels booked on hotels.com/venture earn 10 miles per dollar spent. Plus you can earn free hotel nights with Hotels.com rewards, in addition to earning the 10x miles (ends January 2020).

Cathay Pacific First Class Seat
Fly in style on Cathay Pacific by transferring Capital One miles. Image courtesy of Upgraded Points.

Redeeming Capital One Miles

Capital One has several flexible options for redeeming your miles.

The best value, in general, is to redeem your Capital One miles for travel, where you have several options. You can book travel with any hotel or airline you wish, book travel directly through Capital One, or utilize airline transfer partners.

You’ll never have to worry about redeeming your Capital One miles for good value.

Erase Your Travel Purchase with a Statement Credit

Capital One offers the convenience of booking your travel with the travel provider of your choice. This means that redeeming your miles isn’t limited to airfare. You can book cruises, experiences, rental cars, and more.

You can then request a statement credit by using Capital One’s Purchase Eraser to wipe out that travel purchase. You have until 90 days after the date the travel purchase posts to your account to redeem miles through Purchase Eraser for a statement credit.

Luxury resort view
For great value, redeem your Capital One miles for travel. Image courtesy of Christine Krzyszton.

Book Travel Directly with Capital One

You can book travel via the Capital One website by logging in to your account and selecting “book a trip” from the redemption options. Your miles will be worth 1 cent when used for travel.

Be sure to compare prices with other travel providers to receive the best deal and to utilize other travel rewards programs.

For example, you might be able to earn additional perks on your travel purchase with online travel agencies such as Expedia or Orbitz. And, you’ll certainly want to check out Hotels.com/venture to earn 10x miles on your hotel purchase and qualify for free nights (ends January 2020).

Transfer Your Miles to Airline Partners

Capital One miles can easily be turned into airline miles. Airline miles can then be used to purchase award flights.

This option offers the possibility of greater value for your Capital One miles than the standard 1 cent per mile.

Currently, there are more than a dozen airline transfer partners, but more are being added.

If you’re looking to book a trip with miles, be sure to read our guide: The Best Ways to Redeem Capital One Miles.

Redeem for Gift Cards

You can still receive 1 cent per mile in value (or better) when redeeming your Capital One miles for gift cards. Look for discounts and specials offered on the Capital One website.

Redeem for Cash

While transferring your Capital One miles to airline partners or redeeming for travel may give you the most value for your miles, there are other options.

You can redeem miles for previous purchases or a check. The value you receive will be poor, about one half of a cent per mile.

No Minimum Redemption Amount

No need to accumulate a certain level of miles, you can redeem as few or as many as you want, anytime you want.

Use Your Miles to Donate to Charity

Capital One has discontinued its charitable giving site. However, by transferring your Capital One miles to one of the airline partner programs, you’re able to donate your miles from there.

Appliances
Save money on interest charges with a 0% introductory APR on purchases. Image courtesy of Sears.

0% Introductory APR Period for Purchases

Have a large purchase or multiple purchases coming up that you’d like to pay for over time? How about without interest?

Taking advantage of the 0% APR period on purchases for the first 12 months you have the Capital One® VentureOne® Credit Card can save you plenty in interest charges.

It may be one of the best reasons to consider the VentureOne® Credit Card.

It’s important to pay off your balance before the end of the 12 month period to avoid incurring interest charges that could exceed 24% APR.

Transfer Miles to Other Accounts

There’s no cost to transfer Capital One miles from one Capital One account to another. Both accounts must be in good standing and be miles-earning accounts.

Capital One pre qualification
Use the risk-free pre-qualification tool before you apply for a Capital One credit card. Image courtesy of Capital One.

Finding Your Capital One Offers

You can find out if you have Capital One credit card offers waiting for you by using these risk-free tools that don’t affect your credit score.

See if You’re Pre-Qualified

Capital One has a great tool for determining if you’re already pre-qualified or pre-approved for one of their credit cards.

They’ve established a special website for you to enter your basic information and find out if you have credit card offers available.

If you do have Capital One personalized offers, it doesn’t mean you are guaranteed to be approved for a credit card, but the tool does give you an idea of which cards are best suited for you. Applying for the cards that fit your lifestyle can raise your chances of being approved.

To learn more about pre-qualifying and getting pre-approved for credit cards, we’ve put together a complete pre-qualification guide to walk you through the process.

Capital One and the Card Match Tool

Capital One participates in the Card Match Tool.

The tool works similarly to the pre-qualification tool. Simply complete and submit some basic information to find if you have existing credit card offers.

Bottom Line: Neither the Card Match Tool nor Capital One pre-qualification can guarantee you’ll be approved for a particular credit card. You will, however, have a much better idea of which cards you’re likely to get approved for by using these no-risk tools. 

Visa Signature or Visa Platinum Benefits

In addition to the earning and redemption benefits of the VentureOne® Rewards Credit Card, you’ll receive extended benefits offered through Visa.

When you apply for the VentureOne® Rewards Credit Card, you’ll either receive a Visa Platinum or Visa Signature credit card based on your creditworthiness as determined by Capital One.

Each card offers slightly different benefits so you’ll want to reference the specific benefits guide that comes with your card.

Buying Coffee with Credit Card
Foreign purchases will not incur transaction fees with your Capital One® VentureOne® Rewards Credit Card. Photo courtesy of RawPixel via Shutterstock.

Travel Protections and Benefits

The VentureOne® Rewards Credit Card provides you with certain travel protections and benefits, making travel not only affordable but also easy.

No Foreign Transaction Fees

This card also serves you well while traveling overseas as no fees are charged on your foreign purchases.

Auto Rental Collision Damage Waiver

Use your Capital One® VentureOne® Credit Card to reserve and pay for your rental and refuse the rental car agency’s CDW coverage.

You will receive coverage for damage, theft, loss of use, and towing on your rental car for rentals 31 days or less outside your country of residence. Rentals of 15 days or less are covered within your country of residence.

Coverage is subject to terms and conditions found in your specific card’s benefit guide.

Hot Tip: If car rental insurance is an important factor for you, see our post on the best cards that provide car rental protection and coverage.

Visa Signature Travel Benefits

  • Lost Luggage – Receive up to $3000 if your luggage is lost or stolen.
  • Visa Signature Concierge – 24/7 assistance and VIP event access whether at home or while traveling
  • The Luxury Hotel Collection – Receive premium benefits when staying at one of over 900 properties
  • Roadside Assistance – Emergency assistance that includes towing, lock-out service, fuel delivery, and more

Travel Accident Insurance

Provides payment for serious personal injuries when traveling via common carrier. Ticket must have been purchased with your VentureOne® Rewards Credit Card.

Travel Assistance Services

Receive 24/7 referral assistance for services such as an English speaking doctor, emergency transportation, and legal help.

The cardholder is responsible for the actual cost of the provided services.

Shopping Protections and Benefits

Extended Warranty

Purchase an eligible item with your card and receive an extension on the term of the manufacturer’s warranty.

Purchase Security

Eligible items purchased with your Capital One card are covered for 90 days if damaged or stolen. This benefit is available with the Visa Signature version of the VentureOne® Credit Card.

Bottom Line: The actual benefits you receive with your Capital One® VentureOne® Rewards Credit Card will depend on whether you’re approved for the Visa Signature or Visa Platinum Card. The benefit guide for each card can be accessed here

Account Management and Security Features

Easy Authorized User Management

Add an additional user to your credit card and track their spending with the VentureOne® Rewards Credit Card

Customized Alerts

Set up personalized payment reminders and alerts to be notified of specific activity on your account.

Manage Your Account on the Go

Manage transactions, make a payment, or view your balance with the convenient Capital One Mobile App.

CreditWise®

Access and monitor your credit risk-free with the CreditWise® tool from Capital One. The tool is available free to non-cardholders as well.

Eno® Assistant

Eno® is your virtual assistant who watches over your account, alerts you to unusual activity, and answers your questions 24/7.

Final Thoughts

Capital One offers both the Capital One® Venture® Credit Card and the Capital One® VentureOne® Credit Card. The two cards are similar in how they earn miles and how you can redeem those miles.

In their marketing materials, Capital One tells us that the Venture® Credit Card is the better value “if you spend $1056 or more per month on everyday purchases”.

This is because, although the Venture® Credit Card has a $95 annual fee, you will earn 2 miles per dollar spent versus the lesser 1.25 miles per dollar with the VentureOne® Credit Card.

Add in the fact that the sign-up bonus can be much higher on the Venture® Credit Card, and the card can end up delivering more value for the right consumer.

To learn more about the best credit cards for earning travel rewards, our guide provides the information you need to compare some of the best available options.


Featured Image: Courtesy of Shutterstock

FAQ

How does the Capital One® VentureOne® Rewards Credit Card work?

The Capital One® VentureOne® Rewards Credit Card earns 1.25 miles for every dollar spent. Plus, it earns 10 miles per dollar spent on Hotels.com/venture (ends January 31, 2020).

You can redeem those miles for travel booked through Capital One, use Purchase Eraser to wipe out a previous travel purchase, or transfer your miles to airline partners.

You can also redeem your miles for gift cards, statement credits, or request that a check be sent to you. Some redemption options can result in receiving a value of less than 1 cent per mile which is not a good value.

Can I use my Capital One® VentureOne® Rewards Credit Card miles for any airline?

You can purchase travel from any airline and use Purchase Eraser to receive a statement credit for that travel purchase. You’ll receive a value of 1 cent per mile towards the purchase.

You can also transfer miles to any of the airline transfer partners and use those frequent flyer miles to purchase award tickets.

Additionally, you can purchase travel from any airline that can be booked through the Capital One travel portal. You’ll receive a value of 1 cent per mile on the site.

When you log in to your Capital One online credit card account, you’ll see the option to redeem your miles whether it’s by requesting a statement credit, transferring miles, or booking travel directly through Capital One.

What credit score do I need to qualify for the Capital One® VentureOne® Rewards Credit Card?

You’ll need to have a good to excellent credit score to qualify for a Capital One® VentureOne® Rewards Credit Card.

While definitions can vary, a good to excellent credit score may be between 670-850.

However, if you’re considering the card, you may want to utilize the Card Match tool and Capital One pre-qualification tool first.

Doing so won’t hurt your credit score, and you may find existing offers for Capital One credit cards.

Is the Capital One® VentureOne® Rewards Credit Card a Visa or MasterCard?

When you apply for the Capital One® VentureOne® Rewards Credit Card, you’ll receive either a Visa Signature or Visa Platinum credit card.

Which card you qualify for will depend on your creditworthiness as determined by Capital One. The minimum credit limit you can receive is $1000.

There’s no annual fee on either of these Visa cards, but there are differences in benefits.

How does Purchase Eraser work?

When you make a travel-related purchase with your card, you can choose to “erase” that purchase with a statement credit by redeeming your Capital One miles.

You have 90 days from the date the purchase posts to your statement to utilize Purchase Eraser.

You can redeem your Capital One miles online or via your smartphone by signing into your Capital One account.

Your miles balance will update immediately and the credit will be applied to your statement within 5-7 days.

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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