Capital One VentureOne Rewards Credit Card Benefits & Review 2021
The Capital One VentureOne Rewards Credit Card earns 1.25 miles on every dollar you spend. It also has flexible redemption options including travel statement credits and point transfers. While this card doesn’t have the most travel benefits, there is no annual fee.
Below is our benefits guide and review of the Capital One VentureOne.
Infrequent travelers that don’t travel enough to justify have a travel credit card with an annual fee. It’s easy to redeem your miles for travel as there isn’t a redemption minimum. There are also several award travel options.
This card is also a friendly option for international travel as there isn’t a foreign transaction fee.
You might also consider this card as each purchase earns unlimited 1.25x miles making it easy to track how many miles you can earn. As an added bonus, the Capital One Travel purchases earn 5x miles, one of the highest rewards rates flexible rewards cards make on travel purchases.
|Benefits at a Glance|
|– Annual Fee: $0|
– Current Bonus: 20,000 bonus miles after spending $500 in the first 3 months
– Unlimited 1.25 miles per $1 on every purchase
– No Foreign Transaction Fees
– Flexible Redemption Options
– 15+ Transfer Partners
– Secondary Auto Rental Collision Damage Waiver
– No Foreign Transaction Fee
– Miles Do Not Expire
– Extended Warranty Protection
– APR: 15.49%-25.49% variable APR
– Good to Excellent Credit Score Required (700+)
Featured Capital One VentureOne Rewards Benefits
Here are some of the best reasons to get the Capital One VentureOne.
No Annual Fee
There is no annual fee which makes this a good credit card option for travelers that don’t make few credit card purchases or don’t travel often.
20,000 Miles Signup Bonus
Applicants can earn a 20,000 Venture miles spending bonus after spending $500 in the first 3 months. This bonus is worth $200 in award travel and is competitive with offers for other no-annual-fee rewards credit cards.
However, there are two different versions of the VentureOne Rewards Card.
The signup bonus is only available for the Capital One VentureOne Rewards Card that requires excellent credit.
Capital One defines “excellent credit” as never declaring bankruptcy or defaulting on a loan, not 60 days late on a credit card or installment loan in the last year, and having a credit card or loan for at least three years with a minimum $5,000 credit limit.
If you don’t fit into this category, you may have to settle for the Capital One VentureOne for Good Credit. The card has similar rewards categories and redemption options, except it doesn’t offer a signup bonus or introductory APR and charges a higher purchase APR of 26.99%.
The bank considers you to have “good credit” when you haven’t declared bankruptcy or defaulted on a loan in the last five years and currently have a credit card or loan and haven’t been at least 30 days late on a payment in the most recent 12 months.
The Vacationer Tip
When you’re unsure which credit score range you currently fall into, consider prequalifying for the VentureOne Rewards Card to see if you qualify for the signup bonus. If not, you can apply for the VentureOne Rewards Card for Good Credit to improve your credit score to be eligible for a better card in the future.
0% Introductory APR
The Capital One VentureOne Rewards Card also offers an introductory 0% APR for the first 12 months on purchases.
After the introductory period ends, the remaining balance accrues interest charges at the variable rate between 15.49% and 25.49%, depending on your creditworthiness.
Balance transfers do not qualify for the introductory APR.
This introductory APR doesn’t apply to the VentureOne Rewards Card for Good Credit. Instead, purchases incur a 26.99% variable APR 25 days after the billing cycle closes.
Earn 5x Mile on Capital One Travel
Paying cash for upcoming flights, hotels, and car rentals on Capital One Travel lets you earn 5 miles per $1. As a comparison, booking identical itineraries directly from the travel provider only earns the 1.25x base rate.
In some instances, it can be better to book directly from the carrier even if you only earn a quarter of the miles.
For example, you may have more travel protection and price refund benefits from the car rental agency if your actual rental car is smaller (and cheaper) than the original reservation.
Earn Unlimited 1.25 Miles on Purchases
All card purchases, excluding Capital One Travel reservations, earn 1.25 miles per $1.
Many travel credit cards have tiered rewards programs that award bonus points on select categories such as travel and dining. However, the non-bonus categories only earn 1 point per $1.
If you anticipate most of your spending to fall into the non-bonus purchase categories, you can earn 25% more miles with VentureOne.
Redeem Miles for Travel Statement Credits
The best way to redeem your miles can be for travel statement credits. Each point has a redemption value of 1 cent (1,000 miles=$10) on recent travel purchases.
There isn’t a redemption minimum so you can use your miles to cover all or part of recent travel purchases.
Although you pay cash for the purchases, you earn 1.25 miles per $1 or 5x miles for Capital One Travel purchases. Therefore, you have more miles to redeem as a statement credit than using your miles for an upcoming trip.
Transfer Miles to Airlines and Hotels
You also have the option of transferring your Capital One miles to over 15 airline and hotel transfer partners. Point transfers can help you get a better redemption value or use an existing frequent flyer miles balance to reduce your out-of-pocket costs.
Being able to transfer miles with a $0 annual fee travel credit card is a novelty. Many banks only offer this feature to their credit cards with an annual fee.
Other Capital One VentureOne Rewards Benefits
These are some of the other perks of the Capital One VentureOne.
No Foreign Transaction Fees
There are zero foreign transaction fees on international purchases, making it easy to save money when traveling abroad and still earning travel rewards. It’s common for credit cards with no annual fee to charge up to 3% on non-United States purchases.
Amazon.com and PayPal Rewards
Travel redemptions are the most valuable redemption option but you can also redeem your miles for cash-like rewards. You can redeem miles for Amazon.com and PayPal credits at the checkout screen.
Cash redemptions and gift cards are the other non-travel redemption options.
Auto Rental Collision Damage
Most car rentals qualify for secondary collision damage waiver coverage when you decline the car rental agency’s coverage option. This benefit can reimburse damages from collision or theft after submitting a claim with your primary auto insurance provider.
Travel Accident Insurance
Covered trips can have up to $1 million in travel accident insurance in the event of accidental loss of life, limb, sight, speech, or hearing when traveling with a common carrier.
Receive an additional year of warranty protection on qualifying original manufacturer’s warranties of 3 years or less.
Coverage benefits are up to $10,000 per item and up to $50,000 per cardholder.
Virtual Card Numbers
You can prevent credit card fraud–and having to wait for a replacement card–by paying for online purchases with virtual card numbers. These numbers are different than your physical card number.
Miles Do Not Expire
Capital One miles will not expire as long as your VentureOne account remains open and in good standing.
How to Redeem Capital One VentureOne Miles
You can redeem your VentureOne miles for travel and non-travel rewards. Miles are worth 1 cent each for travel redemptions but only 0.8 cents or less for cash and shopping rewards.
The Vacationer Tip
Redeem miles for travel or transfer to a partner airline or hotel for maximum value. Otherwise, you run the risk of redeeming miles for as low as 0.05 cent per mile.
Travel Statement Credits
Travel statement credits can be the easiest way to redeem your miles. You can use the Purchase Eraser tool to request statement credits for travel purchases within the last 90 days.
Most travel expenses are eligible for a statement credit:
- Timeshares and vacation rentals
- Car rental agencies
- Limousine services
- Taxi cabs
- Train travel
- Travel agents
Book Upcoming Travel
You can redeem miles to book flights, hotel nights, and car rental with the Capital One Travel booking portal. This redemption option means you don’t have to pay cash upfront and request a travel statement credit later.
Airline and Hotel Point Transfers
There are currently more than 15 airline and hotel point transfers. Most travel brands have a 2:1.5 transfer ratio (i.e., 2,000 Capital One miles equal 1,500 travel partner miles) but some partners offer a 1:1 ratio to get a better redemption value.
You will need to transfer at least 1,000 miles at a time.
The current list of Capital One transfer partners include:
Capital One Airline & Hotel Transfer Partners
|Transfer Partner||Transfer Ratio to Hotel or Airline|
|Accor Live Limitless||2:1|
|Aeromexico Club Premier||1:1|
|Air Canada Aeroplan||1:1|
|British Airways Avios||1:1|
|Cathay Pacific Asia Miles||1:1|
|Choice Hotels||1:1 (available TBA)|
|EVA Infinity MileageLands||2:1.5|
|Flying Blue Air France KLM||1:1|
|Qantas Frequent Flyer||1:1|
|Singapore Airlines KrisFlyer||1:1|
|TAP AirPortugal Miles&Go||1:1|
|Turkish Airlines Miles&Smiles||1:1|
Choice Privileges will also become a transfer partner in the second half of 2021. This program will have a 1:1 transfer ratio.
Most point transfers are almost instant but some programs can take up to 36 hours. Most of the Capital One travel partners are an excellent option for international travel.
You may be able to book partner flights through the international air travel program. For example, you can book United Airlines award flights through Aviance LifeMiles.
You can redeem your miles for gift cards to the largest retailers and restaurants.
You can also redeem your miles for cash statement credits and bank account deposits.
Redeem miles for Amazon.com and PayPal purchases by linking your Capital One VentureOne Rewards Card to your account.
Transfer to Friends
A final option is transferring your purchase rewards to other Capital One credit card customers. You won’t pay any transfer fees. This redemption can be a great way to pool miles to book an expensive trip with miles.
Capital One VentureOne Fees
Here is a list of fees you might pay with the Capital One VentureOne:
- Annual Fee: $0
- Foreign Transaction Fee: 0%
- Introductory Purchase APR: 0% for the first 12 months
- Ongoing Purchase APR: 15.49% to 25.49% variable APR
- Balance Transfer APR: 15.49% to 25.49% variable APR
- Late Payment Fee: Up to $40
Capital One VentureOne Rewards Compared to Similar Cards
These cards offer exciting benefits that can be a better fit for your travel and spending habits.
Capital One Venture Rewards Credit Card:
If you travel regularly, the Capital One Venture can be a better option. The card has similar travel benefits and redemption options as the VentureOne but earns 2x miles on purchases.
You also get a Global Entry or TSA PreCheck application fee credit up to $100.
However, you must be comfortable paying a $95 annual fee. You will need to decide if your monthly spending at the higher 2x rewards rate can offset the annual fee.
Chase Freedom Unlimited®:
The Chase Freedom Unlimited doesn’t have an annual fee and earns up to 5% back purchases:
- 5% back on travel purchases through Chase Ultimate Rewards
- 3% on dining and drugstore purchases
- 1.5% back on all other purchases
You can earn more rewards than with the Capital One VentureOne as each purchase earns at least 1.5x points instead of 1.25x miles.
This card earns Chase Ultimate Rewards that you can redeem for statement credits, cash redemptions, gift cards, and book upcoming travel. The redemption value is 1 cent per point for each redemption option.
While you won’t pay an annual fee, there is a 3% foreign transaction fee. You also cannot transfer points to airline or hotel loyalty programs like the VentureOne Rewards can.
Chase Freedom Flex℠:
The Chase Freedom Flex also earns up to 5% back on purchases:
- 5% back on the first $1,500 spent on quarterly bonus categories (then 1% back)
- 5% back on travel purchases through Chase Ultimate Rewards
- 3% back on dining and drugstore purchases
- 1% back on all remaining purchases
This tiered rewards credit card can be a better option if most of your spending is in the 5% and 3% bonus categories. However, the Capital One VentureOne can be the better choice if most of your spending will only earn the 1% non-bonus rate.
The redemption options include statement credits, booking award travel on the Chase Ultimate Rewards portal and gift cards. Each point is worth 1 cent each.
The Chase Freedom Flex doesn’t support airline or hotel point transfers.
The annual fee is $0 but has a 3% foreign transaction fee.
Chase Sapphire Preferred® Card
The Chase Sapphire Preferred has a $95 annual fee but offers several award travel benefits the Capital One VentureOne Rewards Card and the Capital One Venture Rewards Card don’t offer.
Travel purchases earn a minimum of 2x Ultimate Rewards and non-bonus purchases earn 1x points. Dining purchases earn 3x points per dollar spent. Additionally, the Chase Sapphire Preferred travel redemption options are more valuable.
Each point is worth 25% more when booking award travel through Chase Ultimate Rewards. The travel redemption bonus makes each point worth 1.25 cents each for future travel but only 1 cent each for statement credits.
You can also transfer your points at a 1:1 ratio to over 12 airline and hotel programs, including more domestic airlines and hotels. The 1:1 ratio is better than the Capital One transfer ratio in most cases.
This card also offers more extensive travel protection benefits including primary auto rental coverage and trip cancellation/interruption coverage.
The annual fee is $95 and there is no foreign transaction fee.
Hilton Honors American Express Card:
If you happen to be a Hilton Honors member and want to redeem your credit card points for hotel nights, consider the Hilton Honors American Express Card.
This card earns up to 7x Hilton Honors points on purchases, provides automatic Hilton Honors Silver status, and basic travel protection benefits.
There is no annual fee or foreign transaction fee.
There is no annual fee for the Capital One VentureOne.
The foreign transaction fee is 0% on all international purchases.
You will need a 700+ credit score to qualify for the Capital One VentureOne. Applicants with a score in the high 600s may get the Capital One VentureOne for Good Credit instead which has similar benefits but doesn’t offer a spending bonus.
Purchases earn 1.25x miles on purchases and Capital One Travel purchases earn 5x miles.
You can redeem Capital One VentureOne miles for travel statement credits on travel purchases from the last 90 days, booking upcoming trips on Capital One travel, and transfer miles to airlines and hotels.
You can redeem Capital One miles for non-travel awards like cash redemptions, gift cards, PayPal shopping credits, and Amazon.com credits.
Capital One VentureOne miles are worth $0.01 each for travel statement credits and upcoming trips.
Each point is worth between $0.005 and $0.008 for cash, gift card, and online shopping redemptions.
No, Capital One VentureOne miles do not expire if your account remains open and in good standing.
The Capital One VentureOne Rewards Card offers travel accident insurance and secondary rental car collision damage waiver.
Qualified applicants can earn 20,000 bonus miles after spending $500 in the first 3 months. This spending bonus is worth $200 in travel rewards.
The Vacationer’s Final Thoughts
The Capital One VentureOne Rewards is one of the better travel credits with no annual fee. It earns 1.25 miles per dollar spent which can be higher than cash rewards cards and its flexible travel redemption options are valuable features.
But if you’re a big spender or travel often, finding a credit card with an annual fee can provide more benefits to help you save money and improve your quality of travel.
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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