Capital One® VentureOne® Rewards Credit Card – Full Review [2020]

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

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 CapOne VentureOne card is the no-annual-fee version of the more popular Capital One® Venture® Rewards Credit Card that you’ve likely seen Alec Baldwin promoting on TV.

In addition to no annual fee, the CapOne 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® Rewards Credit Card?

• No annual fee
• No foreign transaction fees
• Travel accident and rental car insurance
• Ability to use transfer partners

• Weak earn rate at 1.25x miles per $1 spent on all purchases
• No luxury travel or elite benefits

If you don’t consider yourself a frequent traveler but enjoy the occasional trip and prefer a rewards cards with no annual fee, the CapOne VentureOne card might be a good option for you.

With no foreign transaction fees, there’s no need to fear when using your card overseas.

The CapOne VentureOne card also offers flexible redemption options for those who value choice when it comes to how you redeem your hard earned miles.

• You want a travel rewards card with no annual fee
• You want a card with flexible redemption options, including transfer partners

• You want a card with a stronger earning rate than 1.25x miles per $1
• You want a card with multiple bonus categories
• You want a card that features luxury travel benefits like airport lounge access or hotel elite status
• You prefer a cash-back card

Adding Extra Capital One Miles cards

If you’re wanting to increase your Capital One miles earning even further, adding a new credit card can be the perfect way to do that.

Different cards can offer additional bonus categories to help increase your mile earnings, and can even come with large sign-up bonuses to add a nice boost to your stash of miles.

Take a look at the best personal and business Capital One cards, with varying point rewards and benefits.

With the CapOne VentureOne card, you have multiple redemption options when deciding how to use your miles. Offering you the flexibility to decide what will give you the best value for your needs.

Capital One Travel Portal

When booking your travel plans through the Capital One travel portal, each of your miles are worth a fixed 1 cent per mile toward your purchase. This option offers a high level of flexibility as there are no hoops to jump through and no blackout dates.

Statement Credit for Travel Purchases

If you make a travel purchase with your CapOne VentureOne card and then later decide you would have preferred to use your miles, no worries: you can redeem your miles as a statement credit to cover the purchase.

Similar to booking through the Capital One® travel portal, when you redeem your miles this way, they’ll be worth a fixed 1 cent per mile.

Statement Credit for Food and Streaming Service Purchases (Limited Time)

Capital One has added the ability for CapOne VentureOne cardholders to redeem their miles for eligible restaurant delivery, takeout, and streaming service purchases until December 31, 2020. Cardholders will be able to redeem their miles at a rate of 1 cent per point for these purchases.

Transfer Partners

The option that can earn you the biggest value for your miles is sending them to one of the many Capital One transfer partners.

Your Venture miles will transfer to the majority of the Capital One airline transfer partners at a 2:1.5 rate, meaning 50,000 Venture miles would become 37,500 miles with whichever airline you choose.

If you earn enough miles with your card, you could even transfer them out to redeem for a business-class flight, potentially saving yourself thousands of dollars in the process.

There really is no shortage of ways to redeem your miles for huge value when using transfer partners. In fact, here are some of our favorite ways to get max value out of your Capital One miles.

Checkout With PayPal

When your eligible card is linked to PayPal, you can checkout with PayPal and redeem your miles at a rate of 125 miles to $1. We’d recommend this only if you can’t use your miles for travel or as a statement credit.

Bottom Line: You might be under the impression that trying to make sense of transfer partners is too time-consuming or too difficult, but it’s not as bad as you may think! We’ve even put together a guide to teach you about the Capital One transfer partners and how to use them.

Wells Fargo Propel American Express Card

If you insist upon having a card with no annual fee, the Wells Fargo Propel card might be a great option for you. The card features 3x points per $1 spent on travel, dining, gas, rideshare and streaming services.

Each point you earn is worth a fixed 1 cent, and while the card offers a much better earning structure, you lose the benefit of being able to use transfer partners. Consider benefits that matter the most to you, and make your decision from there!

Chase Sapphire Preferred® Card

If you want a great travel rewards card and are willing to fork over an annual fee to get one, the Chase Sapphire Preferred® Card is an excellent option.

The Sapphire Preferred® earns 2x points per $1 spent on all travel and dining purchases, features no foreign transaction fees, and flexible redemption options — including transfer partners!

In fact, Chase Ultimate Rewards points are some of the most valuable loyalty currencies out there and can be redeemed for huge value. The card packs a ton of benefits for its $95 annual fee, and for many, it is worth every penny.

Read our article on The Capital One VentureOne® vs The Venture® Card, where we look at how each card earns rewards.