Capital One Venture Card Benefits for Active-Duty U.S. Military Members [$2,900+]

If you’re a military service member looking for simplicity in a credit card, the timing of today’s article featuring the Capital One Venture Rewards Credit Card could be perfect.

We’ll talk about all the features and benefits of the card, of course, but it’s worth noting at the onset the added value you’ll receive as a result of the Service Members Relief Act (SCRA) and the Military Lending Act (MLA). These acts were passed to help alleviate the financial burden our service members can face.

While the acts apply to a multitude of financial transactions, our focus is on how Capital One applies the laws to the Capital One Venture card — and the resulting benefits for the military member.

Let’s look briefly at the acts and how the benefits of the card can provide bottom-line value, specifically for service members.

How Do the SCRA and MLA Work?

Military service requires commitment, sacrifice, and even financial challenges.

To help alleviate some of those financial challenges, acts were passed that oversaw how credit granted to military members was managed by lenders.

The SCRA was passed in 2003 and applies to credit granted to service members prior to active duty. The MLA, enacted in 2006, applies to credit acquired during active duty.

Initially, financial transactions such as mortgages, car loans, payday loans, and even some student loans, came under the law. In 2017, credit cards were also included.

In brief, here’s how the laws apply to credit cards.

• Interest rates charged on credit cards that were acquired prior to active duty are capped at 6% (SCRA).
• Credit cards acquired during active duty are subject to a 36% interest rate, referred to as the Military Annual Percentage Rate or MAPR (MLA). The MAPR includes all associated credit card fees as well.

How Capital One Applies These Laws

In terms of specifics for Capital One, the company grants military benefits to active-duty service members who qualify and caps interest rates at 4% on personal credit cards acquired prior to active duty.

Capital One does not waive annual fees for credit cards acquired during active-duty military service, only for those acquired while not on active duty. This is an important distinction for service members.

The benefits we’ll be discussing will apply to those cards during your active-duty service and for up to 1 year after.

Bottom Line:

Capital One provides military benefits for credit cards acquired by military members prior to active duty. Interest rates are capped at 4% and credit card fees are waived, including the annual fee.

Waiver of the Annual Fee — Value of $95

One of the benefits of the Capital One Venture card for active-duty military members is the waiver of the $95 annual fee (rates & fees). The annual fee for a card that was acquired prior to active duty will be waived during your active duty service.

Earning Potential and Redemption Options — Value of $2,250

Earning rewards on your Capital One Venture card can be accomplished in several ways. Here’s how to maximize the earning potential of your card from day 1 after receiving your card.

The Value of a Welcome Bonus Offer — Value of $1,350

Immediately after being approved for the Capital One Venture card, you’ll have the opportunity to earn a welcome offer. Welcome offers vary but you can normally count on a bonus worth more than $1,000.

For example, we value Capital One miles at 1.8 cents each, resulting in a 75,000-mile welcome bonus worth $1,350.

For our latest valuation, check out our credit card and miles valuations, which are updated monthly.

Before applying, check for the most recent welcome offer here.

Referral Bonus Opportunities — Value of $360

Referring friends and family members can help you earn hundreds of dollars worth of Capital One miles each year. For each referral that is approved, you could receive up to 20,000 miles, worth approximately $360.

Spending on the Card — Value of $540

Spending on your Capital One Venture card is an easy way to earn Capital One miles. The card’s earning structure is also simple and easy to understand. Plus, you’ll always earn at least 2 miles per dollar spent on the card.

Here’s an example of how earnings can add up when spending on the Capital One Venture card:

• 5x miles on hotels and rental cars via Capital One Travel
  • $2,000 spent = 10,000 miles
• 2x miles on all other travel
  • $4,000 spent = 8,000 miles
• 2x miles for all other purchases
  • $6,000 spent = 12,000 miles

Redemption Options — Value Varies

The miles earned on your Capital One Venture card are not frequent flyer miles but flexible, redeemable rewards that can be redeemed in a variety of ways.

Here are the options you’ll have at redemption time:

• Redeem miles for travel via Capital One Travel at a value of 1 cent each
• Transfer to airline or hotel partners for award flights or hotel nights (value varies)
• Redeem miles for 1 cent each as a statement credit toward previous travel purchases
• General statement credits, cash, gift cards, Amazon, or PayPal (value varies)

The best value for your miles will be to transfer them to airline partners for award flights. We’ve put together some great suggestions for using your Capital One miles for maximum value.

Bottom Line:

You can earn Capital One miles quickly by qualifying for the welcome offer, referring friends and family, and spending on the Capital One Venture card. At redemption time, you’ll have several options, including redeeming miles via Capital One Travel, transferring to airline/hotel partners for greater potential value, and receiving a statement credit, gift cards, or shopping with select retailers.

Travel Protections and Benefits — Value of $520

Travel protections can provide assistance should something go wrong during your trip. Travel benefits can make your trip more comfortable and/or save you money.

Let’s review the travel protections and benefits you’ll find on the Capital One Venture card and the potential value you could receive.

Car Rental Insurance — Value of $200

Use your Capital One Venture card to reserve and pay for your entire car rental, decline the rental agency’s CDW/LDW coverage, and receive protection for damage and theft of the rental car. Coverage is secondary within your country of residence, but primary when renting abroad. Terms do apply and some countries are specifically excluded.

CDW/LDW coverage can cost ~$20 per day. If you were to rent a vehicle just 10 days a year, you could save approximately $200.

Lost or Damaged Luggage — Value of Value Varies

Reimbursement for the actual cost of repairing or replacing your checked or carry-on luggage and personal property contained therein that is lost or damaged

Global Entry/TSA PreCheck Fee Reimbursement — Value of Up to $100

Pay for a Global Entry or TSA PreCheck application or renewal fee with your card and receive a statement credit for the amount of the fee, up to $100, once every 4 years.

No Foreign Transaction Fees — Value of $30

If you spend a lot abroad, foreign transaction fees can add up. Not so with the Capital One Venture card, as the card does not charge these fees (rates & fees). This benefit can be especially important for military members and their families.

Typically, foreign transaction fees are 3% of the total transaction. If you were to spend $1,000, you would be saving $30.

Capital One Lifestyle Collection Hotel Benefits — Value of $50

Use your Capital One Venture card to book your stay with the Lifestyle Collection and receive elite-style benefits. Benefits include an upgraded room, when available, an experience credit of up to $50, complimentary Wi-Fi, and early check-in/late checkout when available.

Book your hotel stay via Capital One Travel and earn 5x miles or redeem your miles, at a value of 1 cent each, to pay for your stay.

Capital One and Plaza Premium Lounge Access — Value of $90

Each year, you’ll receive 2 one-time lounge access passes you can use to visit a Capital One Lounge or Plaza Premium Lounge. Additional visits are $45 each.

Hertz Gold Plus Rewards Rental Car Program Status — Value of $25

Receive a 1-car level upgrade, expedited vehicle pickup where available, and 25% additional Gold Plus Rewards Points with the complimentary Hertz Gold Plus Five Star status that comes with your card.

Master RoadAssist — Value of $25

Take advantage of 24-hour toll-free assistance to help with services like towing, gas delivery, jumpstarts, and tire changes. Customer is responsible for any and all costs incurred.

Bottom Line:

The Capital One Venture card comes with several useful travel protections and benefits including car rental insurance, reimbursement for lost or damaged luggage, Global Entry/TSA PreCheck fee reimbursement, no foreign transaction fees, hotel benefits, lounge passes, Hertz status, and Master RoadAssist.

Shopping Protections and Benefits — Value of $100

Purchase Assurance and Extended Warranty Protection — Value of $50

Purchase assurance, also known as purchase protection, covers eligible items purchased with your card for up to 90 days from the purchase date, for damage or theft, up to $500 per claim.

Extended Warranty covers eligible items that have manufacturer’s warranties of 3 years or less for 1 additional year.

Capital One Offers and Capital One Shopping — Value of $50

Log in to your online card account and select Capital One Offers from retail and service providers, make the required purchase, and receive a statement credit. Capital One Shopping is a browser extension that automatically searches for coupons and price comparisons when you’re shopping online.

Hot Tip:

You do not need to be a Capital One cardholder to utilize the Capital One Shopping browser extension.

Qualification and Requesting Benefits

It should now be apparent that the Capital One Venture card has the potential to add value for an active-duty service member.

Let’s look at who might qualify for Capital One military benefits, some tips on how to apply for the Capital One Venture card, and how to request benefits once you’re approved.

Who Qualifies for Military Benefits

Capital One does a thorough job of defining who qualifies for military benefits. You could receive benefits if you fall into any of these categories:

• Active-duty Army, Air Force (including Space Force), Marines, and Coast Guard, including reserves
• A reserve or full-time Army of Navy National Guard member who is on active duty
• A commissioned officer of NOAA or the Public Health Service on active duty
• U.S. citizens who are active-duty members of an allied nation’s military
• Qualifying spouses and eligible dependants of the active-duty service member

Military benefits for those listed above will apply to Capital One cards acquired prior to active-duty service. If you’re not on active duty, you may consider applying for a Capital One card. Here’s how to do that.

How To Apply for the Capital One Venture Card as a Military Member

You may be approved for the Capital One Venture card with a credit score as low as 670 but we recommend a credit score of 700 or better to increase your chances.

If you want to find out your chances for approval without actually submitting an application for a Capital One credit card, use the risk-free CardMatch tool (the simplest option) or Capital One’s preapproval tool (which requires more information). Selecting either option will not result in a hard inquiry on your credit. The tools simply give you examples of cards for which you are most likely to be approved.

You’ll also want to check the Department of Defense database via the SCRA/MLA website to be sure your accurate current status is reflected in your record. This is the source Capital One uses to validate your status. If your spouse or eligible dependent is applying for a card, use the Defense Enrollment Eligibility Reporting System (DEERS) database to check their status.

Hot Tip:

There is no charge to add authorized users to your Capital One Venture card. Consider adding an authorized user prior to your active-duty deployment for assistance with managing payments and other transactions at your request.

How To Request Benefits (Do This During Active-duty Status)

If you’ve acquired a Capital One credit card prior to active duty, you can request SCRA/MLA benefits during active duty by accessing your account online or contacting Capital One via mail, by fax, or in person.

Online

If you are a qualifying service member with a Capital One credit card, you can apply for Capital One military benefits online. If you’re applying for spouse or dependent benefits, you must apply via mail, fax, or in person at a local Capital One branch.

By Mail

You can request your benefits by mail by including a copy of your active-duty orders on official letterhead, your name, Social Security number, your active-duty start date, and the branch of service you are in. Mail this information to Capital One at this address:

Capital One, Attention SCRA Request, P.O. Box 30285, Salt Lake City, UT, 84130-0285

By Fax

You can fax your request for benefits, along with the supporting documentation as listed above, to 866-516-4023.

In Person

To apply in person, bring your ID and supporting documents to a Capital One banking branch.

Regardless of how you apply, you can expect to receive a reply within 2 credit card billing cycles.

Hot Tip:

You can request Capital One SCRA/MLA military benefits for up to 1 year after leaving active-duty service. Capital One military benefits can be applied retroactively.

Additional Capital One Card Recommendation for Active-Duty Military Members

Capital One Venture X Rewards Credit Card

Because of its premium travel benefits and higher annual fee (that is waived during active-duty military service), the Capital One Venture X card can deliver great value for a military member.

Why We Like the Card for Active-Duty Military

• Waiver of the $395 annual fee during active-duty service (rates & fees)
• Up to $300 annual credit for travel purchased via Capital One Travel
• Complimentary worldwide lounge access with Priority Pass Select membership
• Cell phone protection

Once again, remember that the card cannot be acquired during active-duty service to qualify for Capital One military benefits.

To learn more about the Capital One Venture X card and its benefits for military members, check out our in-depth article.

Hot Tip:

If you prefer a no-annual-fee Capital One credit card during active-duty service, the Capital One VentureOne Credit Card has many of the same benefits as the Capital One Venture card but earns 1.25x miles per dollar on every purchase versus 2x miles (rates & fees).

Final Thoughts

While many major credit card issuers, including Chase and American Express, do not charge credit card fees for active-duty military members for cards acquired after September 2017, Capital One only waives fees for cards acquired outside of active-duty service.

For this reason, it can be more difficult to take advantage of military benefits with Capital One, although still advantageous if you qualify.

The benefit of having the Capital One Venture card is that the low annual fee, consistent earnings, and flexible redemption options make it a keeper beyond active-duty service.

For more on the best premium credit card options for active-duty military members, you’ll want to access our article highlighting cards that offer the best benefits available.

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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.