Edited by: Jessica Merritt
& Juan Ruiz
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Capital One is a unique credit card issuer offering a large collection of cards with options appropriate for every credit rating. Perhaps you’d like to get started on the path toward securing a rewards-earning credit card, for example, but your credit history is not quite there yet. There’s a Capital One card right for you.
Conversely, if you’ve worked hard to improve your credit history, you’ll find several card options that will allow you to earn rewards on every purchase you make.
We’re comparing 3 Capital One cards today, each designed for a consumer with a specific level of credit history. We’ll cover what it takes to qualify for each card, compare the features and benefits, and if applicable, how you can earn and redeem rewards.
Join us as we discuss the Capital One Platinum Credit Card, the Capital One VentureOne Rewards Credit Card, and the Capital One Venture Rewards Credit Card.
First, let’s take a side-by-side look at our 3 featured cards. You’ll notice that each level of card comes with additional reward-earning potential and greater features/benefits.
|Capital One Platinum Credit Card||Capital One VentureOne Rewards Credit Card||Capital One Venture Rewards Credit Card|
|Welcome Bonus||No welcome offer is available.||Earn 20,000 miles when you spend $500 on purchases in the first 3 months.||Earn 75,000 miles when you spend $4,000 on purchases in the first 3 months.|
|Earning||No rewards program||
|Redemption Options||No rewards program||
|Additional Benefits||Available to those with fair credit||None||TSA PreCheck or Global Entry fee reimbursement, up to $100, every 4 years|
|Annual Fee||$0 (rates & fees)||$0 (rates & fees)||$95(rates & fees)|
While the Capital One Platinum card does not offer a welcome bonus, the Capital One VentureOne card and Capital One Venture card each offer a welcome bonus in the form of Capital One miles earned when you complete minimum spending requirements within the first 3 months after card approval.
The Capital One Platinum card is great for those looking to build up their credit score and credit history, without paying a deposit or annual fee.
If you’re ready to get serious about building or rebuilding your credit, you’ll want a credit card for which approval is probable, one that has a simple structure and is easy to manage, and ideally, has some benefits you can use. This is where the Capital One Platinum Credit Card really shines.
The card offers unlimited miles at 1.25x per $1 and no annual fee. When you consider the flexible rewards, frequent travelers come out on top.
Interested in a travel rewards credit card without one of those pesky annual fees? Then say hello to the Capital One VentureOne Rewards Credit Card, the no-annual-fee version of the more popular Capital One Venture Rewards Credit Card.
In addition to no annual fee, the Capital One VentureOne card offers no foreign transaction fees.
But is this card worth its salt, or is it merely a shell of the more popular Capital One Venture card?
Get 2x miles plus some of the most flexible redemptions offered by a travel credit card!
The Capital One Venture Rewards Credit Card is one of the most popular rewards cards on the market. It’s perfect for anyone in search of a great welcome offer, high rewards rates, and flexible redemption options.
Frequent travelers with excellent credit may benefit from this credit card that offers a lot of bells and whistles. And it offers easy-to-understand rewards earning and redemption.
Keep in mind that welcome bonuses can change, but we’ve shown a snapshot above of the current applicable welcome bonuses and spending requirements.
Miles can generally be redeemed for 1 cent each, so a 75,000-mile welcome bonus would equal $750 in travel value. However, you could receive potentially greater value when utilizing the option to transfer miles to travel partners and use them for flights or hotel nights. We’ll cover more on redemption options shortly.
If you’d like to learn more about how the 2 rewards-earning cards compare, we’ve put together a detailed comparison of the Capital One VentureOne card vs. the Capital One Venture card.
Capital One is known for its simplistic earning structures, so you’ll always know how many Capital One miles you’ll earn on every purchase you make.
Let’s look at how our 3 featured cards compare when it comes to earning rewards:
|Capital One Platinum card||$0 (rates & fees)||No rewards program|
|Capital One VentureOne card||$0 (rates & fees)||
|Capital One Venture card||$95 (rates & fees)||
While the Capital One Platinum card doesn’t earn rewards, miles earned on the Capital One VentureOne card and Capital One Venture card offer several redemption options.
Here are your options for redeeming your Capital One miles:
Each of our featured cards has its own specific requirements to get approved for the card. Let’s look at the level of recommended credit you would need to qualify for each card.
The Capital One Platinum card encourages at least a fair credit score. The definition of a fair credit score, according to leading credit score creator FICO, is a score between 580 and 669. Additionally, Capital One describes the typical qualifying applicant as “having defaulted on a loan in the past 5 years” or “having a limited credit history, owned a credit card or other credit for less than 3 years.”
If your credit score is considered good to excellent, you might want to apply for the Capital One VentureOne card. According to Capital One, in order to qualify for the card, you “have not declared bankruptcy or defaulted on a loan in the past 5 years” and “have a credit card or loan that has not been more than 30 days late on any payment in the last year.”
The Capital One Venture card recommends a good to excellent credit score which is generally defined as between 670 and 850. Capital One states that the ideal applicant “has never declared bankruptcy or defaulted on a loan, not been more than 60 days late on any credit card, loan, or medical bill, in the last year, and has had a loan or credit card for 3 years or more with a credit limit above $5,000.”
Prior to applying for any card, you’ll want to know your credit history and credit score. You can obtain a credit report from each of the major credit bureaus via AnnualCreditReport.com and there is no cost for the service. Reviewing your credit report for accuracy is always a good first step.
Should you find any errors on your credit report, you’ll want to submit a dispute to the credit bureau and resolve the issue prior to applying for a card.
Once you’ve determined where you stand and have corrected any errors, you can access any available card offers risk-free with the CardMatch tool. There is no inquiry on your credit report and very little information is required to utilize the tool. Capital One also has a risk-free pre-qualification tool, but it does require you to provide more information.
These tools provide a list of card offers you may qualify, for but do not guarantee that you will be approved for the cards.
Capital One is a good place to start building or rebuilding your credit. The variety of cards offered can serve as stepping stones to elevate your creditworthiness to a point where you may have an endless choice of rewards-earning card options.
If your credit is fair, starting with the Capital One Platinum card could help you improve your credit and ultimately qualify you for a next-step card such as the Capital One VentureOne card and then the Capital One Venture card. For information on additional Capital One miles- and rewards-earning cards, you’ll want to check out this list of some of the best cards from this issuer.
If you have bad credit or absolutely no credit, you still have options for cards to help you build good credit.
Once you’ve achieved a good to excellent credit score, you’ll have your choice of some of the best travel rewards cards.
For Capital One products listed on this page, some of the above benefits are provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply.
The Capital One Venture card is the best card among these cards but isn’t necessarily the one you’ll qualify for. If you have fair credit, you will not qualify for the Capital One Venture card or Capital One VentureOne card. You may, however, be able to qualify for the Capital One Platinum card.
If you have good to excellent credit you may be able to qualify for one of the Venture cards.
Prior to applying, you should obtain a copy of your credit card, verify it for accuracy, and know where you stand. You can also use the CardMatch tool to see if you have card offers available.
The Capital One Platinum card is designed for building or rebuilding credit and does not earn rewards.
Capital One miles earned on the Capital One VentureOne card and Capital One Venture card are not frequent flyer miles that can be redeemed directly for flights. However, you can transfer Capital One miles to airline partners and then use the airline’s frequent flyer miles to purchase award flights.
You can also redeem Capital One miles for flights via Capital One Travel at the value of 1 cent each.
It’s recommended you have excellent credit to qualify for the Capital One Venture card. While the definition of an excellent credit score varies, it is generally defined as one that is at least 740 or better.
Capital One describes the ideal applicant for the Capital One Venture card as one who “has never declared bankruptcy or defaulted on a loan, not been more than 60 days late on any credit card, loan, or medical bill, in the last year, and had a loan or credit card for 3 years or more with a credit limit above $5,000.”
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