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Capital One VentureOne Rewards Credit Card Review
If you’re looking for a simple rewards structure, the Capital One VentureOne Rewards Credit Card offers solid flat-rate rewards that apply to all of your purchases. With a decent bonus offer and no annual fee, this is an ideal card for travelers who want to save on their next vacation without a litany of fees in the way.
What we like about the Capital One VentureOne Rewards Credit Card
- No annual fee: The lack of annual fee means you won’t have to figure out a way to neutralize the cost of using your card. Instead, you can simply enjoy the perks and earn without a fee eating into your reward miles.
- No foreign transaction fee: Cardholders can travel abroad without the 3% foreign transaction fee. While a 3% fee doesn’t seem like a lot, it can add up if you’re spending more than usual on vacation.
- Flat-rate rewards: Cardholders never have to monitor rotating rewards categories or activate rewards. Simply use your card to earn unlimited 1.25x miles per dollar on every purchase.
- Sign up offer: Earn 20,000 bonus miles after spending $500 on purchases within the first three months of account activation.
Things to consider
- Better rewards rates available: Travelers and savvy savers looking to maximize rewards will find better rewards elsewhere.
- Lower cash back value: If you want to redeem your miles for cash back, this option has a lower redemption value. You’ll get the most bang for your buck if you redeem your miles for travel rewards.
- Not great for big spenders: Tend to spend lavishly on your credit card? You’ll be able to maximize your rewards on a card with a higher earning potential.
Travel rewards details
Capital One VentureOne Rewards Credit Card cardholders earn unlimited 1.25x miles per dollar on everything, and the points never expire as long as the account is active. The biggest benefit of this card is the ability to transfer miles to any of Capital One’s travel partners. By applying your miles, you can significantly reduce the cost of flights, hotels and other travel expenses.
Cardholders can also benefit from a range of other travel perks like 24-hour travel assistance services, auto rental damage protection and security alerts. Please note: Benefits only available to accounts approved for the Visa Signature card. Terms, conditions and exclusions apply. Refer to your Guide to Benefits for more details.
Although the Capital One VentureOne Rewards Credit Card has no foreign transaction fee or annual fee, there are other costs to consider that may impact the card’s usefulness. If you’re planning to transfer a balance, for example, you can expect to pay 3% of the balance transferred over to your card.
For late payments, you’ll pay a penalty fee of up to $40. And if you need a cash advance, it will cost you $10 or 3% of the amount of each advance, whichever is greater. With all things considered, this card is light on fees as long as you make your payments on time.
How does it compare to other travel credit cards?
The Capital One VentureOne Rewards Credit Card boasts no annual fee, but there are other travel rewards cards with no annual fee with better features. With the Discover it® Miles card earn 1.5x miles per dollar on all purchases. Plus, Discover will match all the miles you’ve earned at the end of the first year automatically. If you can handle a fee in exchange for bigger earning potential, you might also want to consider the Capital One Venture Rewards Credit Card. It has a $95 annual fee after the first year, but it has a rewards rate that could give you more value in the long run.
|Card||Ongoing Purchase APR||Annual Fee||Intro Bonus||Credit Needed||Key features|
|Capital One VentureOne Rewards Credit Card||14.99% - 24.99% (Variable)||$0||20,000 miles once you spend $500 on purchases within 3 months from account opening, equal to $200 in travel||Good to excellent||Unlimited 1.25X miles on every purchase|
|Discover it® Miles||See Terms||See Terms||Discover will match all of your miles at the end of your first year, automatically||Good to excellent||1.5x Miles for every dollar spent on all purchases|
|Capital One Venture Rewards Credit Card||15.99%–23.99% Variable||$95 annually||Enjoy a one-time bonus of 60,000 miles once you spend $3,000 on purchases within 3 months from account opening, equal to $600 in travel||Good to excellent||Unlimited 2X miles on every purchase|
Please Note: Information about the Discover it® Miles has been collected independently by TheSimpleDollar.com. The issuer did not provide the details, nor is it responsible for their accuracy.
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