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 Summary Table
- Card Bonus & Info (Partner Content)
- Card Provider
- Card Type(s):
- Card Focus:
- All Purchases
- Annual Fee
- $0 first year, then $59 per year after
- Rewards CenterYour miles accrue onto your card's account at CapitalOne.com, and can be applied as statement credit when you're ready to redeem for a travel purchase.
- Foreign Transaction FeesNone
- Typical UsersFood Lovers, Frequent Travelers, Hobby Travelers, International Travelers, Parents / Families, The Average Spender
- Customer Service Number
- Login Link
- PartnersThere are no partners with this card, since miles are used for any general travel purchase.
- Interest Rates ?
- 13.49%-23.49% Variable APR
- Late fees ?
- Up to $35
- Balance Transfers
- $10 or 3% fee of the amount of each transfer (whichever is greater)
- 13.49%-23.49% Variable APR
- Cash Advance APR
- $10 or 3% fee of the amount of each transfer (whichever is greater)
- 23.49% APR
The Ideal Cardholder
Sign-Up Bonus and Earning Rate
The benefits begin with a generous sign-up bonus (see card summary table for current offer). You must spend the required amount in the allotted time to qualify.
Then, for every $1 you spend on purchases, you’ll earn 2 miles. That’s 2x the miles on purchases, and there’s no limit to how many you can earn! The card has an annual fee of $59, but it is waived in the first year.
Capital One Venture Rewards Credit Card Benefits
As a travel rewards card, it earns points that can be redeemed as statement credit for travel-related purchases. Each 100 miles is worth $1 in travel rewards.
The card is so flexible that you can make travel purchases with any airline, hotel, etc. via any app or website, and then apply your miles as statement credit. You aren’t limited to any particular airline or hotel chain.
It even includes international travel, which is terrific because you won’t have any foreign transaction fees when you make purchases with the card.
Plus, the card has no annual fee for the first year (then $59 per year).
Travel Redemption Options
The Capital One Venture Rewards Credit Card gives you 2 ways to redeem miles for travel: using Purchase Eraser, or making new reservations.
With Purchase Eraser, you can redeem your miles via statement credit for a wide range of travel purchases. In addition to airline tickets and hotel stays, you can use miles for car rentals, railway tickets, cruises, timeshares, and much more.
Make the purchase, and then apply your miles for statement credit. You can even get partial credit if you don’t have enough miles to cover entire cost. Purchases can be “erased” up to 90 days from the date the charge posts to your account.
The other way to use your miles for travel is to make a new flight, car rental, or hotel reservation by going to capitalone.com or calling the Redemption Center. Then simply book your new reservations using your miles to pay.
How many miles you’ll need for new reservations will depend on the cost of your travel purchase, but it’s easy to figure out: Multiply the total cost of the purchase by 100.
For instance, if the travel cost is $300, multiply it by 100 to see that you’ll need to redeem 30,000 miles.
Miles can also be redeemed for statement credit or gift cards for those cardmembers who don’t travel as much. However, because that reduces the value of your miles considerably, we don’t recommend it.
Bottom Line: Award miles earned with the Capital One Venture Rewards Credit Card are best used as statement credit toward existing travel purchases (Purchase Eraser) or to book a new reservation through Capital One.
Visa Signature Benefits
The card also provides exclusive benefits due to the fact that it is a Visa Signature.
Enjoy Visa Concierge Service 24 hours a day, both from home and away. Also, get premium benefits at over 900 luxury properties, plus shopping discounts at top retailers and online merchants.
Benefits also include special access and preferred seating at sporting events, discounts to movie showings, and much more. Find a complete list of Visa Signature benefits here.
Continue to Collect Loyalty Points
When you use Purchase Eraser to redeem your miles for statement credit, you can still collect loyalty points from your favorite loyalty programs. In fact, it’s a super way to maximize your benefits.
Remember, with Purchase Eraser, you can use your card to purchase travel at any website. This means you’re able to provide the account numbers for your loyalty programs while accruing points on the Capital One Venture Rewards Credit Card to use later.
Similar Card Comparisons
The Citi Double Cash Card also offers a 2% rewards rate, and it doesn’t carry an annual fee. On the other hand, this card’s points can only be used for statement credit, and there is a minimum redemption amount and a 3% foreign transaction fee.
The Barclaycard Arrival Plus™ World Elite MasterCard® earns 2.1x points (when including the 5% rebate), which is just slightly more than the Capital One Venture Rewards Credit Card. Unfortunately, it also has an $89 annual fee.
Earn an unlimited 2x miles on every single purchase you make with no limit. If you redeem miles for travel purchases, there is tremendous value potential in the Capital One Venture Rewards Credit Card.
Great Card If
- You travel internationally
- You want a big sign-up bonus
- You want a card with flexible travel rewards
Don't Get If
- You prefer cash-back rewards
- You do not travel often
U.P. Pro Tips
The Capital One Venture Rewards Credit Card is a great card for everyday purchases and more since it earns 2x miles on everything.
Even if you just use it to buy groceries and gas, you can accrue a ton of miles in no time.
For example, spend $1,000 a month on those expenses and it equals $12,000 for the year, or 24,000 points. That means you would get $240 in travel for purchases you’d make anyway.
Put extra expenses like doctor’s visits, monthly bills (electricity, cellphone, cable) and more on the card, and you can really rake in the points!
How To Use the Capital One Venture Rewards Credit Card: The Upgraded Way
Best Way To Maximize Points
Obviously, the best strategy is to use the Capital One Venture Rewards Credit Card as much as possible to earn the 2x miles.
While there aren’t tons of other ways to maximize your points with the card, we developed a list of useful tips to help you get the most from your card.
Tip #1: Spend the required amount in the allotted time to earn the sign up bonus to start off with statement credit for travel.
Tip #2: Combine cards to get the best value from each card.
For example, use a card like the Chase Freedom® to earn 5% cash-back on the quarterly bonus categories up to $1,500. When you pass that point (or on other purchases), switch back to the Capital One card to earn 2x miles.
Tip #3: Always pay your bill on time. If a late fee is charged to your account, you will lose any miles applied to your rewards balance during that billing cycle.
Tip #4: If you have multiple Capital One rewards accounts, you may be able to transfer your miles between accounts. Instead of 2 accounts with small rewards balances, you can have 1 account with a bigger rewards balance for larger redemptions.
Tips #5: Use the card for all your international travel plans. You won’t incur any foreign fees, and the EMV chip allows you to make purchases abroad without a hitch!
Best Way To Redeem Points
As we discussed earlier, the 2 ways to redeem miles for travel are for statement credit through Purchase Eraser or by making a new reservation at capitalone.com.
One of the top benefits of the Capital One Venture Rewards Credit Card is that you don’t need to redeem a minimum number of miles for full travel statement credit.
Another plus is you only need 2,500 miles to make a partial credit redemption. So, buy a $200 plane ticket and redeem as few as 2,500 miles for a $2.50 partial statement credit! That’s just the minimum, of course!
Cash, Gift Cards, and More
While travel redemptions provide the most value for your miles ($0.01 per mile), you also have a few other options. You can redeem miles for cash-back, gift cards, or other redemptions at capitalone.com.
However, the value of your miles is reduced considerably with these other options. As a result, we don’t recommend that you use your miles for anything other than travel rewards.
The card does not have any travel partners. That means you can earn 2x miles by booking travel with any airline or hotel chain! Redeem your miles for statement credit to pay for your purchases.
Unfortunately, this also means that you can’t transfer miles like you can with some other travel rewards credit cards.
Now that we’ve explored the different ways to earn and redeem miles with, let’s find out if the card is really worth it. With a few simple calculations, we can get a good idea of the card’s value.
A Quick Card Review
First, let’s refresh our memories by recapping the cost and earning potential of the Capital One Venture Rewards Credit Card.
|Annual Fee||Points Earned for All Purchases|
|$0 first yr, then $59||2x|
Clearly, the card has value right from the start. Even if you include the $59 annual fee after the first year, your sign up bonus miles makes the card a good deal.
But let’s keep digging to see how much more value we can get from the card!
Comparing Our Model Families
Using our 3 model families, we’ll apply their yearly spending to see how many miles can be earned in a year.
|Family||Yearly Card Spend||Total Miles Earned|
Next, let’s calculate the value of each family’s miles based on $0.01 per mile, rounded down to the nearest dollar.
Our fictitious families get a value of $452 to $902 from the card in travel rewards! Even when you subtract the $59 annual fee after the first year, that is some pretty great value.
Of course, the value is much less if these same points are redeemed for cash or gift cards instead of travel.
Card Comparison and Final Thoughts
As an alternative, the Chase Sapphire Preferred® Card earns 2x points on travel and dining and 1x points on everything else. This earning rate is a little lower than the Capital One card, but you have a couple of extra options.
Most importantly, you can transfer rewards points to participating frequent travel programs at a ratio of 1:1, and get some good redemptions starting at a value of $0.02 per point. Alternatively, booking travel through Chase Ultimate Rewards increases value of your points to $0.0125.
If your dining expenses are high and you travel frequently, the Chase Sapphire Preferred® Card may be a better choice.
Overall, though, the Capital One Venture Rewards Credit Card has a great earnings rate, is easy to use, and lets you continue to earn miles even when purchasing something you plan on redeeming your miles for.
The Gritty Details: Everything Else You Need To Know
Sign-up bonus miles are only awarded to new cardmembers. If you have an existing or previous Capital One account, you are not eligible.
Once you qualify for the sign-up bonus, it will be applied to your rewards balance within 2 billing cycles.
You can’t earn miles on cash advances, checks used to access your account, and balance transfers.
Other Unique Features
Capital One provides a variety of cardmember benefits including but not limited to the following:
$0 fraud liability – No liability if the card is lost or stolen
Security alerts – Stay on top of account security with personalized emails or texts
Online banking – Manage your Capital One account online
Capital One Wallet – The mobile payment app provides immediate charge notifications, account balances, available credit, and rewards earnings
Second Look from Capital One – This feature looks for unusual and duplicate charges on your account
Apple Pay – Use select Apple devices to make purchases
Personalized payment – Choose your own billing due date and payment method with no fee
Autopay – Have your monthly payments made automatically
Travel accident insurance – Pay for travel fare with the card and receive automatic insurance for loss of life or limb at no extra charge
24-hour travel assistance – Get emergency card replacement and a cash advance if the card is lost or stolen
Auto rental insurance – Coverage for damage due to collision or theft
Extended warranty– Receive additional warranty protection on card purchases
Annual account summary – A yearly overview of payments and transactions organized by category
Financial education site – Get access to financial tools, tips, and resources to manage your credit
Because the Capital One Venture Rewards card is a Visa Signature card, you also get additional benefits, such as:
Visa Signature concierge – Available 24 hours a day from home and when you travel
Event access – Enjoy special access and preferred seating at sporting events and concerts
Luxury Hotel Collection – Premium benefits at over 900 properties
Lost luggage reimbursement – Coverage up to $3,000 if checked or carry-on luggage is lost or stolen
Roadside dispatch – Towing and locksmith referral services in the U.S. and Canada available 24/7
Find a complete list of Visa Signature benefits here.
Photo Credits/Credit/Copyright Attribution:
Blond Girl Laying on Bag Smiling: Dima Sidelnikov/Shutterstock
Couple Consulting Doctor: Stock-Asso/Shutterstock
Credit Cards: luchunyu/Shutterstock
Happy Couple Selfie: Makistock/Shutterstock
Why should I sign up for the Capital One Venture Rewards Credit Card?
The card typically comes with a generous sign-up bonus (see card summary table or special offer below for details). This means you'll start right away with travel statement credit available.
With this card, you earn 2x miles on all purchases and can redeem them for travel rewards. You are not limited to any specific airline carrier or hotel chain.
What benefits come with the Capital One Venture Rewards Credit Card?
There are no foreign transaction fees with the card. Rewards never expire for the life of the account, and there is no maximum number of rewards you can earn on purchases. You also have the freedom to book with any airline carrier or hotel chain.
When can I use my Capital One Venture Rewards Credit Card miles? How do they work?
Redeem your miles for travel with any airline or hotel once they appear on your statement. Miles work as statement credit toward travel purchases such as cruises, car rentals, limousines, taxis, bus fare, and much more.
You can also book travel directly with your miles by getting in touch with Capital One, either online or by phone. The difference here is that by using miles to purchase directly, you are not earning the additional 2x miles on the original purchase.
When do Capital One Venture Rewards Credit Card miles expire?
Your miles will never expire as long as your account is active.
Who are the Capital One Venture Rewards Credit Card partners?
There are no partners with the card. Instead, you have the flexibility of booking travel with any airline or hotel.
What is the annual fee with the Capital One Venture Rewards Credit Card?
There is no annual fee for the first year. At that point, it becomes $59 per year.
Does the Capital One Venture Rewards Credit Card have a 0% APR?
No. The card has a variable APR (see card summary table above).
Is there a foreign transaction fee with the Capital One Venture Rewards Credit Card?
No. The Capital One Venture Rewards card does not have a foreign transaction fee.
Which is better, the Capital One Venture Rewards Credit Card or the Barclaycard Arrival Plus™ World Elite MasterCard®?
The Barclaycard Arrival Plus™ World Elite MasterCard® earns an equivalent of 2.1x points when considering the 5% rebate on all miles redeemed.
This is slightly higher than the 2x points earned with the Capital One Venture Rewards Credit Card. However, it also has an annual fee of $89, so if the amount of additional miles does not exceed the extra $30 in fees, then it won't be worth it.
What is the Capital One Venture Rewards Credit Card login?
The login is capitalone.com.
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