Capital One® Venture® Rewards Credit Card Review

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Capital One® Venture® Rewards Credit Card Review

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"2x Miles All the Time"

Get 2x miles plus some of the most flexible redemptions offered by a travel credit card!

The information regarding the Capital One® Venture® Rewards Credit Card was independently collected by Upgraded Points and not provided nor reviewed by the issuer. 

As a frequent traveler with excellent credit, you’re always on the lookout for a credit card that comes with all the bells and whistles. And the easier it is to understand, the better!

The Capital One® Venture® Rewards Credit Card is one of the most popular rewards cards. It’s perfect for anyone in search of a great sign-up bonus, high rewards rate, and flexible redemption options.

Card Snapshot

The Ideal Cardholder

The Venture card can be a great option for those who are looking for a solid all-around travel card with a low annual fee, no foreign transaction fees, and an excellent point earn rate.

The Venture card also features other perks cardholders will find helpful like purchase protection, rental car insurance, and a Global Entry/TSA PreCheck application credit.

To sweeten the deal even further, Capital One now allows all miles earned with your Venture card to be transferred to several different airline partners. Allowing cardholders to get outsized value out of their Venture miles by transferring to airlines to redeem for business and first-class flights.

Great Card If

Don't Get If

Card Fees

  • Annual Fee
    • $0 first year, then $95 per year after
  • Foreign Transaction Fees
  • Interest Rates
    • 17.24% - 24.49% Variable
  • Late fees
    • Up to $39
  • Balance Transfers
    • 17.24% - 24.49% Variable
  • Cash Advance APR
    • 24.49% APR

How To Earn More Capital One Miles

Man Looking Out Window In Hotel Room
Image credit: Shutterstock

Uber Eats Purchases

Through January 31, 2020, Venture cardholders will earn unlimited 5x miles on all Uber Eats purchases. So if you’re someone that frequently gets takeout, these miles can really add up quickly!

Everyday Purchases

The Venture card earns an uncapped 2x miles per $1 spent on all purchases you make. Allowing you to earn double the miles without needing to worry about bonus categories or limits to how many miles you can earn.

So consider making your Venture card your daily driver for all the everyday purchases you make. Daily coffee, gas and groceries, dinner with friends, it can all add up to big savings on your next vacation.

Adding additional Capital One Miles cards

Increasing your mile earnings even further could be as simple as adding a new Capital One card to your wallet. With different cards comes additional bonus categories, new perks, and potentially a large sign-up bonus to help boost your number of miles.

Here are some of our favorite Capital One credit cards:

Capital One® Venture® Rewards Credit Card - This card is packed with a lot more benefits and perks. Earn 100,000 bonus miles when you spend $20,000 on purchases in the first 12 months from account opening, or still earn 50,000 mile sign up bonus once you spend $3,000 on purchases within 3 months from account opening. We recommend this as a no-brainer card if you even semi-regularly stay at hotels.
Capital One® VentureOne® Rewards Credit Card - This is an excellent card for those looking to earn 1.25x miles per $1 on every purchase. With a 20,000 mile sign up bonus (worth $200 toward travel) after spending $1,000 within the first 3 months and no annual fee, it's a strong choice.
Capital One® Spark® Miles Select for Business - This no annual fee card earns unlimited 1.5x miles per dollar on every purchase and has a 20,000 mile sign up bonus [worth $200 in travel] after meeting the minimum spend of $3,000 within the first 3 months. Save on interest with 0% intro APR on purchases for 9 months; 13.99% - 23.99% variable APR after that.
Capital One® Spark® Miles for Business - This card earns unlimited 2x miles per dollar on every purchase, everywhere, and has a one-time bonus of 50,000 miles [worth $500 in travel] after spending $4,500 on purchases within the first 3 months. Plus, earn 5x miles on hotel and rental card bookings through Capital OneSM using a Spark Miles card. Annual Feel: $0 intro for the first year, $95 after that.

How To Use These Points For Max Value

Hotel beach resort
Where will your Venture miles take you? – Image credit:

Now that you have a large reserve of Venture miles, next comes redeeming them for the max value! There are three main redemption options for your Venture miles, giving you the flexibility to decide which is best for your needs.

Capital One Travel Portal

The Capital One Travel Portal allows you to redeem your miles to offset any travel purchase made through the portal. You can redeem your miles for 1 cent per mile toward airfare, hotels, rental cars, and many other options – without needing to worry about blackout dates or award availability.

Statement Credit on Travel Purchases

Did you purchase a flight with your Capital One Venture card that you intended to use miles for? No problem! Capital One allows you to redeem your miles to cover purchases you’ve already made on your card.

When you opt for this method, your miles will be valued at 1 cent per mile toward whichever travel purchase you choose to have credited.

Statement Credit on Food and Streaming Services (Limited Time)

Capital One has added the ability for Venture cardholders to redeem their miles for eligible restaurant delivery, takeout, and streaming service purchases until September 30th, 2020. Cardholders will be able to redeem their miles at a rate of 1 cent per point for these purchases.

Transfer Partners

Utilizing transfer partners offers you the best value for your hard-earned miles if you’re willing to put in a little extra work.

Capital One has several different airline partners for you to choose from, and the majority of them transfer at a 2:1.5 rate. This means transferring 50,000 Venture miles would become 37,500 miles with whichever airline you choose to transfer to.

At face value, this may not seem optimal, as the number of overall miles you’d have decreased – but not all miles are created equally! In fact, many of the Capital One airline transfer partners can offer great redemption options on business and first-class bookings that could save you thousands of dollars.

Bottom Line: Having multiple redemption options is a great benefit to the Venture card, but to get the highest value possible – utilizing transfer partners is the way to go.

Dealing with airline transfers and finding award space can certainly be intimidating at first. But learning the ropes of award bookings isn’t as difficult as you might think!

Competitor Cards

Chase Sapphire Preferred® Card

The Chase Sapphire Preferred card is one of the most popular travel rewards cards on the market, and with benefits like 2x points per $1 spend on dining and travel, no foreign transaction fees, and flexible redemption options (including transfer partners), it’s easy to see why the card is so popular.

For just a $95 annual fee, you’ll be able to start earning Chase Ultimate Reward points, one of the most valuable loyalty currencies available. Chase Ultimate Reward points can be redeemed for incredible value through their select transfer partners.

Curious to learn more? Have a look at our full review of the Chase Sapphire Preferred Card to see what the buzz is about.

Bank of America® Premium Rewards® Card

The Premium Rewards card can be a great option for travelers, especially for those who already have a banking relationship with Bank of America.

Premium Rewards cardholders earn 2x points per dollar on travel and dining purchases, plus 1.5x points per dollar on all other purchases. Customers can also earn even higher point multipliers on these categories, depending on the balance of their checking, savings, or investment accounts with Bank of America.

The Premium Rewards card does not feature transfer partners, and all points are worth a fixed 1 cent per point toward travel purchases. So if you already have a banking relationship with Bank of America, and prefer a fixed point redemption, this card could be a good option for you.

Jarrod West

About Jarrod West

Born and raised just outside of Cincinnati, Jarrod became fascinated with using points and miles as the perfect way to visit dream destinations without breaking the bank. Thanks to points and miles, Jarrod was able to spend 3 months traveling Europe financed nearly entirely with points and miles; while flying in premium cabins and staying in 5-star hotels along the way. To date, Jarrod has traveled to 16 countries and 22 US states.

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