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Christine ran her own business developing and managing insurance and financial services. This stoked a passion for points and miles and she now has over 2 dozen credit cards and creates in-depth, deta...
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Capital One has done a good job of advertising its credit card products. Many people are familiar with those commercials featuring a celebrity spokesperson where you’re promised the ability to earn “unlimited double miles on every purchase, everywhere, every day.”
Then you hear that your Capital One miles are not like other airlines’ miles and that you’ll be able to redeem them for “any flight, on any airline, at any time, with no blackout periods.” Then, in closing, you hear the popular Capital One slogan “What’s in your wallet?”
While you won’t find all the bells and whistles of airport lounge access, elite status, or shopping statement credits with most of Capital One’s travel cards, you will find a solid, straightforward collection of rewards-earning cards that are great for everyday spending.
Let’s look at 2 of the issuer’s most popular rewards cards, the Capital One Venture Rewards Credit Card and the Capital One VentureOne Rewards Credit Card.
Don’t be fooled by their similar names as these 2 cards have significant differences. We’ll explain how each card earns rewards, look at redemption options available, and check out any benefits that come complimentary with the cards.
So, hold on, as we’re about to find out if either of these Capital One cards should be in your wallet.
Capital One Venture Card vs. Capital One VentureOne Card — Summary
Image Credit: Ideal Photographer via Shutterstock
While these 2 cards are similar overall, they do have distinct differences when it comes to earnings, travel benefits, and the annual fee.
Let’s take a side-by-side look at what the 2 cards have to offer.
Welcome bonuses vary but you can expect to receive a valuable bonus. It is possible to receive even greater value for your welcome bonus miles by transferring to travel partners.
The rating for this card has been determined by our own industry experts who know the in's and out's of credit card products. Bonuses, rewards as well as rates and fees are all taken into account. Compensation from the issuer does not affect our rating. We only recommend products we either use ourselves or endorse.
Get 2x miles plus some of the most flexible redemptions offered by a travel credit card!
Get 2x miles plus some of the most flexible redemptions offered by a travel credit card!
Enjoy a one-time bonus of 75,000 miles once you spend $4,000 on purchases within 3 months from account opening, equal to $750 in travel.
75,000 miles
$1,350
$95
19.99% - 29.99% (Variable)
Upgraded Points credit ranges are a variation of FICO®Score 8, one of many types of credit scores lenders may use when considering your credit cardapplication.
Good to Excellent Credit (670-850)
The Capital One Venture Rewards Credit Cardis 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.
Pros
5x miles per $1 on hotels and rental cars booked through Capital One Travel
2x miles per $1 on all other purchases
2 complimentary visits to a Capital One Lounge or Plaza Premium Lounges each year
The rating for this card has been determined by our own industry experts who know the in's and out's of credit card products. Bonuses, rewards as well as rates and fees are all taken into account. Compensation from the issuer does not affect our rating. We only recommend products we either use ourselves or endorse.
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.
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.
Earn a bonus of 20,000 miles once you spend $500 on purchases within 3 months from account opening, equal to $200 in travel.
20,000 miles
$360
$0
19.99% - 29.99% (Variable),0% intro on purchases for 15 months
Upgraded Points credit ranges are a variation of FICO®Score 8, one of many types of credit scores lenders may use when considering your credit cardapplication.
Good to Excellent (670-850)
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?
Pros
No annual fee
No foreign transaction fees
Ability to use transfer partners
Access to Capital One Dining
Cons
Weak earn rate at 1.25x miles per $1 spent on all purchases
No luxury travel or elite benefits
$0 annual fee and no foreign transaction fees
Earn a bonus of 20,000 miles once you spend $500 on purchases within 3 months from account opening, equal to $200 in travel
Earn unlimited 1.25X miles on every purchase, every day
Miles won't expire for the life of the account and there's no limit to how many you can earn
Earn 5X miles on hotels and rental cars booked through Capital One Travel, where you'll get Capital One's best prices on thousands of trip options
Use your miles to get reimbursed for any travel purchase—or redeem by booking a trip through Capital One Travel
Transfer your miles to your choice of 15+ travel loyalty programs
Enjoy 0% intro APR on purchases and balance transfers for 15 months; 19.99% - 29.99% variable APR after that; 3% fee on the amounts transferred within the first 15 months
Financial Snapshot
APR: 19.99% - 29.99% (Variable),0% intro on purchases for 15 months
We mentioned earlier that Capital One cards are known for their simplicity. This statement holds true when it comes to earning rewards on our 2 featured cards — unless you’re booking specific travel using your card, you’ll be focusing on earning a fixed number of Capital One miles for every dollar you spend on either card.
With this simple earning structure, you can just use your card, earn Capital One miles, and not worry about keeping track of any complicated bonus-earning categories.
Bottom Line: Earning rewards on our featured cards is pretty straightforward. The Capital One Venture card earns at least 2x miles on every purchase and the Capital One VentureOne card earns at least 1.25x miles.
Redeeming Rewards
Transferring your Capital One miles to travel partners can yield great value, such as flying United Polaris class using Avianca LifeMiles. Image Credit: United
You’ll have several options for redeeming Capital One miles earned on either card. Both cards have the exact same redemption options.
Transfer to Travel Partners
One of the best potential redemption options is to transfer your Capital One miles to one of the many travel partner loyalty programs. Once your Capital One miles are turned into frequent flyer miles or hotel loyalty points you can then use those miles and points to purchase flights or hotel nights.
Capital One has more than 15 airline and hotel transfer partners, making it a versatile currency to possess if your objective is to book award travel. For this reason, we value Capital One miles at around 1.8 cents per mile.
When you transfer Capital One miles to travel partners like Singapore Airlines KrisFlyer or Emirates Skywards, you can book luxury first class plane tickets that’ll get you upwards of 10 cents per mile worth of value!
Statement Credits for Travel Purchases
Use your Capital One miles to get reimbursed (as a statement credit) for past travel purchases made with your Capital One Venture card or Capital One VentureOne card at a rate of 1 cent per mile. For example, if you paid for an Uber or booked a night directly with a hotel, you can effectively wipe away these travel charges from your balance.
Travel via Capital One Travel
Another redemption option that yields 1 cent in value for each Capital One mile is purchasing travel through the Capital One Travel booking portal in your online account. However, be sure to check prices elsewhere as Capital One Travel may not always have the best prices.
Additional Redemption Options
Redeem for Gift Cards — redeem for gift cards for up to 1 cent in value per mile
Shop at Amazon — using your miles to shop at Amazon is generally not good value at 0.8 cents per mile
Redeem for Statement Credits — also not good value at 0.5 cents per mile
Hot Tip: The best potential value for your Capital One miles may be transferring those miles to frequent flyer or hotel loyalty programs.
Annual Fees
The annual fee on the Capital One Venture card is $95 per year (rates & fees).
The Capital One VentureOne card does not charge an annual fee (rates & fees).
Travel Benefits and Protections
Cardholders enjoy special perks when staying at Luxury Hotel Collection properties. Acqualina Resort Miami. Image Credit: The Luxury Hotel Collection
The following benefits are available on both cards:
Travel assistance services
Roadside dispatch
The following benefits are only available on the Capital One Venture card:
Global Entry or TSA PreCheck Credit — Receive up to $100 for Global Entry or TSA PreCheck fee reimbursement
Both the Capital One Venture card and Capital One VentureOne card offer:
Purchase security
Extended warranty
Search through available Capital One Offers to earn a fixed amount or percentage of your online shopping trip back in the form of a statement credit
Which Card Is Better for You?
So which card is the better card for you? The answer will really depend on your level of spending. If you spend an average of $1,056or moreeach month, you’ll fare better with the Capital One Venture card. By spending at least this much you’ll earn enough rewards to outweigh the $95 annual fee, and any spending beyond that beats out the Capital One VentureOne card.
Here’s a breakdown of the math:
Capital One Venture card — $1,056 x 12 = $12,672 x 2 miles = $253.44 – the $95 annual fee = $158.44 (rates & fees)
Capital One VentureOne card — $1,056 x 12 = $12,672 x 1.25 miles = $158.40
You’ll also want to include the size of the welcome offers in your calculations, as the Capital One Venture will have a much more valuable bonus than the Capital One VentureOne. Plus, consider that the Capital One Venture offers more perks, like the Global Entry/TSA PreCheck credit, which can also help offset the annual fee.
Capital One offers a way to find out if you have an offer for a Capital One credit card available to you before you apply for a card. Its pre-qualification inquiry tool is not a credit card application so there is no hard pull on your credit report.
The tool is not a guarantee that you will be approved for a card but it does give you an idea of which cards you’re most likely to be approved for.
You can also use the CardMatch tool without any inquiry on your credit report for a risk-free way to find out if you have any pending Capital One credit card offers.
The Capital One Venture card and Capital One VentureOne card both make earning rewards simple, plus the cards offer flexible redemption options that allow you to leverage your miles with travel partners for much greater value.
Which card is best for you will depend on your spending level and what perks you desire. If your spending exceeds $12,672 a year, the Capital One Venture card will suit you well, even with the annual fee. However, it’s also important to take the size of a card’s welcome offer into consideration when making your final decision.
If you’re a frequent traveler, you may also benefit from a travel rewards credit card. You can learn more about the best travel rewards cards and our recommendations in our comprehensive article.
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.
Enrollment required through Capital One website or mobile app. Upon enrollment, eligible cardholders will remain at upgraded status level through December 31, 2024. Please note, enrolling through the normal Hertz Gold Plus Rewards enrollment process (e.g. at Hertz.com) will not automatically detect a cardholder as being eligible for the program and cardholders will not be automatically upgraded to the applicable status tier. Additional terms apply.
Featured Image Credit: Upgraded Points
Frequently Asked Questions
Which card is better, the Capital One Venture card or the Capital One VentureOne card?
The better card for you will likely depend on your level of spending. Although the Capital One Venture card has an annual fee, with its higher earning rate of 2x miles on all purchases, you’ll do well with the card if you spend more than $1,056 each month.
If you spend less, you have a large purchase(s) coming up that you’d like to carry a balance on, or if you’d like to consolidate high interest credit card debt, the Capital One VentureOne card with no annual fee could be the better choice.
How do Capital One miles work?
Every dollar you spend on either of these featured Capital One credit card earns a specific number of miles. After each statement period closes, those miles are available for redemption. It’s important to note that Capital One miles earned on these cards are not the same as frequent flyer miles.
The miles are really reward points that may be transferred to travel partners and converted into frequent flyer miles or hotel loyalty points that can then be redeemed for award flights and free hotel nights, respectively. You can also redeem miles to cover travel purchases made with your card, with miles being worth 1 cent each.
Additionally, you can redeem miles for gift cards at up to 1 cent per mile in value, redeem on Amazon for 0.8 cents per mile, and for general statement credits for an even lesser value.
Can I downgrade my Capital One Venture card to a Capital One VentureOne card?
Reports indicate that you can downgrade the Capital One Venture card to a Capital One VentureOne card after you have had the card for 12 months.
Do Capital One miles expire?
Capital One miles do not expire as long as you have an active card open. If you close your account, any unused miles will be forfeited.
Can I transfer Capital One miles to another account?
As long as the account you’re transferring to is a Capital One miles-earning account, you can transfer your miles.
Eligible accounts include any account, not just those of family members. You can also transfer miles between your own Capital One miles accounts.
There is no limit on the number of miles you can transfer and there is no fee for doing so.
Christine ran her own business developing and managing insurance and financial services. This stoked a passion for points and miles and she now has over 2 dozen credit cards and creates in-depth, detailed content for UP.
This bonus value is an estimated valuation calculated by UP after analyzing redemption options, transfer partners, award availability and how much UP would pay to buy these points.
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