Capital One VentureOne Rewards Credit Card Review

Whether flying abroad or taking a vacation in the states, you want the easiest way to earn and redeem miles.

The Capital One VentureOne Rewards Credit Card earns 1.25 miles for every dollar you spend on anything. That’s why you reach for it to pay for all of your expenses!

When it’s time to redeem, you know you can travel anywhere that captures your attention because you’re not tied to a specific carrier or hotel chain.

There’s a reason this card is one of the most popular among travelers.

Sign-Up Bonus and Earning Rate

Get bonus miles after spending the required amount in the allotted time with the card. See above card summary table for current offer details.

Then earn unlimited 1.25x miles for every dollar you spend (100 miles equals $1 in travel rewards). No categories, no keeping track. Just unlimited 1.25 miles per dollar with every swipe.

Bottom Line:  Earn 1.25x miles using the Capital One VentureOne Rewards Credit Card.

Benefits of the Capital One VentureOne Rewards Credit Card

With this travel rewards card, you earn miles and redeem them as statement credit for travel-related purchases. Each 100 miles you earn is worth $1 in travel rewards.

This stands out from many credit cards because you aren’t stuck booking with a particular airline carrier or hotel chain. Fly and stay anywhere you choose!

When making your travel plans, you’re free to research the lowest offers and then book however you choose. You can even book your trip at any website or app to make sure you really are getting the best deal.

International travel is included, which is great because there are no foreign transaction fees with this card. Plus, it has an EMV chip for hassle-free purchases.

Bottom Line: Book travel with any carrier or hotel chain to ensure you get the best deal, and then redeem miles for statement credit when you use the Capital One VentureOne Rewards Credit Card!

No Annual Fee and Visa Signature Benefits

Unlike the Capital One Venture Rewards Credit Card, the Capital One VentureOne Rewards Credit Card has no annual fee. And if you have some big purchases coming up, no worries: the card comes with a 0% interest APR for 12 months.

Because the VentureOne is a Visa Signature card, you also receive a number of exclusive benefits as a cardmember.

For instance, get premium benefits at over 900 luxury properties, shopping discounts at top online retailers, and Visa concierge service 24 hours a day at home and away.

Find a complete list of Visa Signature benefits here.

Bottom Line: Enjoy tons of Visa Signature perks when you sign up for the Capital One VentureOne Rewards Credit Card.

Redeeming Miles for Travel

You have two options for redeeming miles for travel: Purchase Eraser and new reservations.

Purchase Eraser allows you to redeem your miles for a wide range of travel purchases including (but not limited to): airline tickets, hotel stays, railway tickets, cruises, rental cars, time shares, and much more.

Just make the travel purchase and then apply your miles to receive statement credit. Don’t have enough miles to cover the entire cost? You can use partial credit!

Once the charge posts to your statement, you have 90 days to apply your miles for credit.

If you prefer to use your miles to book travel directly, that’s possible too. Simply call the Redemption Center or go to CapitalOne.com to make a reservation for a flight, hotel stay, or car rental. You can use your miles to pay!

The total number of miles you’ll need to redeem for a new reservation will depend on how much the travel purchase costs. The quickest way to figure it out is to multiply the cost of the purchase by 100.

For example, a $400 travel purchase would require 40,000 miles.

You can also redeem miles for statement credit or gift cards. Unfortunately, that reduces the value of your miles by a lot, so we don’t recommend it.

Bottom Line: Redeem miles earned with your Capital One VentureOne Rewards Credit Card for travel through the Redemption Center, or book on your own and receive statement credit.

Earning Loyalty Points

One of the most amazing benefits of using Purchase Eraser to redeem your miles for statement credit is that you can still collect loyalty points from your favorite loyalty programs. What a great way to maximize your benefits!

Because you can make travel purchases on any website, you’re able to provide the account numbers for your loyalty programs and accrue additional points.

Compared to the Capital One Venture Rewards Credit Card

The Capital One Venture Rewards Credit Card has an annual fee of $59. However, you typically get a bigger sign-up bonus (see the card review for current offer), and you’ll earn 2x miles on every purchase.

If you use the card often enough, it’s possible to earn back the cost of the annual fee and then some.

However, some people prefer not to have an annual fee at all. And only the Capital One VentureOne credit card gives you an introductory 0% APR for 12 months.

Bottom Line: Another option is the Capital One Venture Rewards Credit Card. It earns 2x miles for every purchase but has an annual fee of $59 and no intro APR offer.

Card Conclusion

You will earn an unlimited 1.25x miles on every single purchase you make with no limit.

If you redeem miles for travel purchases and take advantage of the 12-month 0% APR, there is tremendous value in the Capital One VentureOne Rewards Credit Card.

• You don’t want to pay an annual fee
• You prefer flexible travel awards
• You want 12 months interest-free to pay for a big purchase

• You would rather earn cash-back
• You don’t travel often

Get the most value out of the Capital One VentureOne Rewards Credit Card by combining it with other credit cards.

For example, the Chase Freedom® Card and Discover it Card allow you to earn 5% cash-back on quarterly bonus categories up to $1,500, plus 1% on other purchases.

For categories not covered by the 5%, use the Capital One and get 1.25 miles instead!

The Capital One VentureOne Rewards Credit Card is ideal to use when paying for just about anything to earn 1.25x miles.

Think about all the monthly expenses you can put on your card. Whether it’s normal expenses like gas, groceries, and utility bills, or occasional expenses such as doctor’s visits and haircuts, it can all add up to a ton of miles!

Even if you just purchase gas and groceries with the card, it can add up fast. For instance, spending $1000 a month for year adds up to $12,000.

At 1.25% the miles, that $12,000 becomes 15,000 miles, or a $150 statement credit. That’s just using the card for what you’d buy anyway!

If you put extra expenses on the card, you can really rake in the miles!

Here are some tips for maximizing your miles:

Tip #1: Spend the required amount in the allotted time to earn the sign-up bonus. That alone will give you statement credit for travel purchases right off the bat.

Tip #2: Never make a late payment on your card if you can help it. If a late fee is added to your monthly bill, you’ll lose any miles you could have earned during that billing cycle.

Tip #3: Book all of your international travel with the card so you don’t incur any foreign fees on purchases. Plus, because it has an EMV chip, you can make purchases abroad hassle-free!

Tip #4: If you have more than one Capital One Rewards account, you may be able to transfer miles between accounts.

That way, instead of having multiple accounts with a few miles, you can have one account with a healthy balance to use for your redemptions.

Tip #5: Add authorized users to your account. Then you can earn miles for their purchases too!

We’ve already discussed the 2 ways to redeem miles for travel with this card: using Purchase Eraser (for statement credit), or making a new reservation at capitalone.com. All travel redemptions are valued at $0.01 per mile.

You also have a few other options for redeeming your miles.

Redeeming Miles for Partial Credit

One unique feature of the Capital One Rewards program is that you don’t need a minimum number of miles to redeem them for full statement credit.

You can also get partial travel credit on purchases starting at 2,500 miles. For example, buy a $250 plane ticket and redeem just 2,500 miles for a statement credit of $2.50.

Of course, 2,500 miles is just the starting point!

Other Ways to Redeem Miles

You can redeem the miles earned with your Capital One VentureOne credit for cash-back, gift cards, and merchandise at capitalone.com.

Unfortunately, miles are worth a lot less than $0.01 each if you don’t redeem them for travel, so we don’t recommend this.

The 12-Month Intro 0% APR

Did your computer crash? Is your refrigerator on its last legs?

The introductory 0% APR is a fantastic opportunity to make a large purchase and spread the payments over 12 months without racking up interest.

Of course, you shouldn’t buy something you don’t need just because there’s no interest. And don’t wait until the last minute to pay it off! Once the introductory APR expires, you’ll be charged interest back to the time of purchase if you’re still carrying that balance.

While the card does not have travel partners, this can actually be a good thing! With no designated partners, you can book travel with any airline or hotel chain for 1.25x miles and then redeem your miles for statement credit.

So far we have looked at the ways it’s possible to earn and redeem miles with the card. Next, we’ll do the numbers and see if signing up is really worth it.

A Quick Recap

First, let’s review the cost and earning potential of the Capital One VentureOne Rewards Credit Card in the table below.

Since the card has no annual fee, you start getting value from the card right away. Add in the sign-up bonus and you start out with statement credit ready to use.

Earning Miles With Our Model Families

Using our 3 model families, let’s apply their yearly spending to see how many miles it’s possible to earn in a year.

Next, let’s calculate the travel value of the miles earned by each value based on the formula $0.01/mile, rounded down to the nearest dollar.

Wow! Our families earned $282-$563 in travel statement credit!

Of course, if they redeem the miles for cash-back, gift cards, or merchandise, the value will be much less.

Comparing the Card Value to the Capital One Venture Rewards Credit Card

Now we’ll compare the value of the Capital One VentureOne Rewards Credit Card to the Capital One Venture Rewards Credit Card (using the calculations from our review of that card).

In the following table, we can see the value of both cards.

Clearly, if you base the calculations on the same amount of spending, the Capital One Venture Rewards Credit Card comes out ahead. However, the card also has an annual fee of $59 after the first year.

Additionally, the Capital One Venture Rewards Credit Card doesn’t have a 12-month intro APR on purchases. If you  plan on making a big purchase, you could benefit from spreading out your payments interest-free.

Final Thoughts

The Capital One VentureOne Rewards Credit Card has the potential to be quite valuable, at over $550 per year per our calculations!

To see which card is better for your needs, you need to do the calculations using your own numbers. Only then will you be able to see which is the better deal.

The sign-up bonus miles offer is only available to new cardmembers. It may take up to 2 billing cycles for miles to be applied to your rewards balance after you qualify.

You cannot earn miles on non-purchase transactions such as cash advances and balance transfers.

Other Unique Features

Card members receive a variety of Capital One benefits, including but not limited to the following:

Online banking – Manage your Capital One account online

Second Look from Capital One – This feature looks for unusual and duplicate charges on your account

Security alerts – Stay on top of account security with personalized emails or texts

$0 fraud liability – No liability if the card is lost or stolen

Capital One Wallet – This mobile payment app provides immediate charge notifications, account balances, available credit, and rewards earnings

Autopay – Have your monthly payments made automatically

Apple Pay – Use select Apple devices to make purchases

Personalized payment – Choose your own billing due date and payment method with no fee

Extended warranty– Receive additional warranty protection on card purchases

Annual account summary – A yearly overview of payments and transactions organized by category

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

Financial education site – Get access to financial tools, tips, and resources to manage your credit

As a Visa Signature card, the Capital One VentureOne Rewards Credit Card also includes additional benefits. The following is a partial list, and you can find the complete list of Visa Signature benefits here.

Event access – Enjoy special access and preferred seating at sporting events and concerts

Roadside dispatch – 24/7 towing and locksmith referral services in the U.S. and Canada

Visa Signature Concierge – Available 24 hours a day from home and when you travel

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

Photo Credits/Credit/Copyright Attribution:

Girl Throwing Arms Up: aslysun/Shutterstock
Credit Cards on Keyboard: Brian A Jackson/Shutterstock
Couple Smiling Over Online Purchase: Subbotina Anna/Shutterstock
Man Staring at Question Marks: pathdoc/Shutterstock