Capital One Venture Rewards Credit Card Benefits & Review
The Capital One Venture Rewards Credit Card is a favorite among travelers—and with good reason. It offers an impressive sign-up bonus, a high rewards rate, an affordably low annual fee, and various travel perks that frequent travelers can put to good use. If you like to travel and you want to be rewarded for your regular spending, this might be the rewards credit card for you. Check out our benefits guide to learn more about the Capital One Venture Rewards Credit Card and the Capital One Venture Miles rewards program.
Who is the Capital One Venture Rewards Card For?
The Capital One Venture Rewards is a card designed for those who value simplicity. Every purchase earns 2 miles per dollar spent, so there are no complicated categories to keep track of. The $95 annual fee is lower than other travel cards with similar benefits, so it is a great card for those who do not want to pay annual fees over $500.
|Benefits at a Glance|
|– Low annual Fee: $95|
– Current Bonus: Up to 100,000 miles if you spend $20,000 within the first twelve months; Otherwise, you can still earn 50,000 by spending a minimum of $30,000 within the first three months of card ownership
– Unlimited 2 miles per $1 on every purchase
– $100 Credit for Global Entry or TSA PreCheck application fees
– No Foreign Transaction Fees
– Auto Rental Collision Damage Waiver
– Travel Accident Insurance
– Lost Luggage Reimbursement
– Travel and Emergency Assistance Services
– Roadside Dispatch
– Extended Warranty Protection
– Flexible Redemption Options
– 15+ Transfer Partners
– Miles Do Not Expire
– APR: 17.24% – 24.49% variable on purchases
– Good to Excellent Credit Score Required (700+)
Featured Capital One Venture Rewards Benefits
These are the most notable features that come with this travel reward credit card:
Low Annual Fee
While this card does have an annual fee, it’s a lower fee when compared to other cards on the market. At only $95, you can easily get a significant amount of value out of this travel reward card to make up for the annual fee, especially during the first year of card ownership.
Up to 100,000 Sign-Up Bonus Miles
If you’re brand new to the Capital One Venture Rewards Credit Card, you’ll appreciate the generous sign-up bonus offer. This travel rewards card has a bonus offer of up to 100,000 bonus miles.
Here’s how it works: You can earn 100,000 bonus miles when you spend $20,000 on purchases within the first 12 months of account ownership. If you don’t plan to spend that much, you can still earn 50,000 bonus miles after meeting a minimum spend of $3,000 within the first three months of card ownership.
The value of Capital One Venture miles varies, but in most cases, miles are worth $0.01 each. The 50,000 bonus miles offer is worth $500, while the 100,000 bonus miles offer is worth $1,000.
Earn Unlimited Miles (2 miles per $1 Spent)
When you use the Capital One Venture Rewards Credit Card, you’ll earn 2 miles per $1 on every single purchase that you make. There are no confusing categories to keep track of, and you can earn an unlimited amount of miles.
Up to $100 Credit for TSA PreCheck or Global Entry Fees
The Capital One Venture Rewards Credit Card also offers up to $100 credit, which you can use to reimburse application fees for TSA PreCheck or Global Entry. Here’s how to take advantage of this perk: Use your card to pay either application fee, and you’ll be eligible for a statement credit of $85 for TSA PreCheck or $100 for Global Entry. This statement credit is available once every four years.
We recommend using your credit for the Global Entry application fee because it offers the most value, and if approved for Global Entry, it also includes a TSA Precheck membership. Win-win!
Other Capital One Venture Rewards Benefits
Here are additional benefits available to cardholders.
No Foreign Transaction Fees
If you’re planning to travel outside of the country and want to use this credit card, you’ll be happy to know that there are no foreign transaction fees. If you frequently travel outside of the United States, this can offer significant savings.
Auto Rental Collision Damage Waiver
This travel credit card also provides an auto rental collision damage waiver benefit. This coverage offers reimbursement up to the full cash value of the vehicle for collision damage and theft for eligible vehicles. To use this benefit, you’ll need to charge the full cost of your rental vehicle to your credit card. You’ll also need to decline the rental car company’s collision damage waiver.
Most vehicles are covered, but some are not — such as exotic vehicles, trucks, motorcycles, and limousines. This benefit is available within the United States and most foreign countries, but there are some country exclusions. Some exclusions apply.
This coverage acts as secondary insurance if you have your own car insurance policy. If you don’t have car insurance coverage (or are renting internationally), it functions as primary insurance coverage.
Travel Accident Insurance
The Capital One Venture Rewards Credit Card is part of the Capital One Visa Signature lineup, which means it also comes with travel accident insurance coverage. When you book the entire cost of a trip with your card, you will receive automatic travel accident insurance up to $250,000 for accidental death or dismemberment. This insurance covers the cardholder, their spouse, and any unmarried dependent children. Some exclusions apply.
Lost Luggage Reimbursement
This card also offers lost luggage reimbursement. This is available for checked or carry-on luggage and covers up to $3,000 if your bags are lost or stolen. You must pay for all Common Carrier ticket and baggage fees using the Capital One Venture Rewards Credit Card to be eligible for coverage. Some exclusions apply.
Travel and Emergency Assistance Services
If you need help coordinating emergency services, Capital One offers travel and emergency assistance services when you’re away from home. This service is available 24/7. An administrator can be reached at 1-800-397-9010 or by collect at 303-967-1093 when traveling outside of the United States.
This card offers a paid roadside dispatch service. This assistance program will arrange a dispatch to a reliable tow operator or locksmith to provide help. An administrator can be reached at 1-800-847-2869. This is not a free service, and fees apply.
Extended Warranty Protection
The Capital One Venture Rewards Credit Card also offers extended warranty protection on eligible purchases. This protection extends the original manufacturer’s written U.S. repair warranty up to one additional year on eligible warranties of three years or less for items purchased with your card. This covers no more than the original price of the purchased item, less shipping and handling fees, and up to a maximum of $10,000 per claim and $50,000 per cardholder. Some exclusions apply.
The Vacationer Tip
Before embarking on your trip, we recommend reading the complete Guide to Card Benefits for your Capital One Venture Rewards Credit Card. It includes detailed information for auto rental collision damage waiver, lost luggage reimbursement, roadside dispatch, travel accident insurance, and travel and emergency assistance benefits. While we have provided an overview for each type of insurance, you should still read the Guide to Card Benefits for restrictions and instructions on filing a claim.
Flexible Redemption Options
The Capital One Venture Rewards Credit Card provides flexibility when redeeming earned miles. You can redeem your Capital One Venture miles in the following ways:
- To book travel experiences through Capital One’s Travel portal (with a value of $0.01 per mile).
- For statement credit using “Purchase Eraser” for travel purchases made within the last 90 days (with a value of $0.01 per mile). There’s no minimum redemption amount if you choose to use this method (unlike some other cards).
- For cash back in the form of statement credit for non-travel purchases (with a lower value of $0.005 per mile).
- For gift cards (with values ranging from $0.008 per mile to $0.01 per mile).
- To transfer for travel through one of Capital One’s many airline and hotel transfer partners (transfer ratios vary, although often offers far more value than $0.01 per mile).
15+ Transfer Partners
If you prefer to have total control over how you redeem your rewards, you’re going to appreciate that Capital One currently has 15+ airline and hotel transfer partners. You can transfer your miles over to your desired program. This allows you the opportunity to dream up the perfect trip and book a vacation through your favorite hotel or airline loyalty program.
Capital One’s current transfer partners include the following:
Capital One Airline & Hotel Transfer Partners
|Transfer Partner||Transfer Ratio|
|Accor Hotels (Accor Live Limitless)||2:1|
|Aeromexico (Club Premier)||1:1|
|Air France (KLM Flying Blue)||2:1.5|
|Air Canada (Aeroplan)||2:1.5|
|Alitalia (MilleMiglia Program)||2:1.5|
|British Airways (Executive Club)||2:1.5|
|Cathay Pacific (Asia Miles)||1:1|
|Emirates (Emirates Skywards)||2:1|
|Etihad Airways (Etihad Guest)||1:1|
|EVA Air (Infinity MileageLands)||2:1.5|
|Finnair (Finnair Plus)||1:1|
|Qantas Airways (Qantas Frequent Flyer)||1:1|
|Singapore Airlines (KrisFlyer)||2:1|
|TAP Air Portugal (Miles&Go)||1:1|
|Turkish Airlines (MIles&Smiles)||2:1.5|
|Wyndham Hotels and Resorts (Wyndham Rewards)||1:1|
Capital One also plans to add the Choice Privilege program to its list of transfer partners later in 2021. While not a transfer option now, the miles will transfer at a 1:1 ratio. We recommend exploring using your miles through a transfer partner because you may be able to get more value this way. Pay attention to the redemption rates when making your plans.
Miles Do Not Expire
Capital One Venture Rewards miles do not expire. As long as you continue to maintain an account with Capital One, your miles are yours to keep.
Capital One Venture Rewards Credit Card Compared to Other Similar Cards
You may be wondering how the Capital One Venture Rewards Credit Card stacks up against other credit cards on the market.
Capital One Venture One: If you’re looking for a card with no annual fee, the Capital One Venture One Credit Card is such a card. Keep in mind that it offers a much lower bonus offer than the Capital One Venture Rewards Credit Card and also has a lower earning rate at 1.25 miles per $1 spent. If you don’t want an annual fee and are okay with earning fewer miles, this may be an option to consider.
Chase Sapphire Preferred Card: The Chase Sapphire Preferred credit card is another favorite amongst travelers. With the same annual fee ($95) as the Capital One Venture Rewards Credit Card, this card offers an impressive sign-up bonus of 100,00 points. It also comes with quite a few travel perks. This card has an earning rate of 5 points per $1 on Lyft purchases (through March 2022), 2 points per $1 spent on dining and travel, and 1 point per $1 spent on all other purchases. Travel redemptions through the Chase Ultimate Rewards portal carry the most value at 1.25%.
If you spend at least $4,750 per year or about $395.83 per month to cover the cost of the annual fee. If you spend at least this much per year and will utilize the travel perks and other benefits offered, this card is well worth the $95 annual fee.
Cardholders earn 2 miles per $1 on ALL purchases, regardless of category.
Cardholders can earn unlimited miles.
Yes. This card offers up to $100 in statement credit as reimbursement for the Global Entry or TSA PreCheck application fee, once every four years.
No. This card does not offer lounge access as a benefit.
No. As long as your account remains open, miles never expire.
If a cardholder earns the 50,000 bonus, it’s worth $500 for travel through Capital One or as reimbursement for travel expenses. If a cardholder earns the 100,000 miles bonus, it’s worth $1,000 for travel through Capital One or as reimbursement for travel expenses.
One mile is worth $0.01 when redeeming for travel through Capital One’s travel portal.
One mile is worth $0.01 when using the Purchase Eraser to redeem for travel purchase statement credit.
One mile is worth $0.005 when redeemed for cash or a statement credit.
The Vacationer’s Final Thoughts
If you’re someone who likes to travel and who wants a simple way to earn rewards, the Capital One Venture Rewards Credit Card is a solid choice. With an annual fee of $95, this card provides a way to earn rewards without breaking the bank. It comes with some nice travel perks that make sense for the frequent traveler. Plus, you’ll have several redemption options, which allows for greater flexibility when it comes time to cash out your miles.
Editorial Disclosure: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved, or otherwise endorsed by any of the entities included within the post.
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