Five Reasons to Get the Capital One Venture Rewards Credit Card

While credit card rewards offer an easy – and lucrative – path to get “something for nothing,” a lot of people find the process too complex. People with busy lives don’t necessarily enjoy analyzing their spending or being forced to use certain cards for certain purchases, so they just skip the entire ordeal. And since airline and hotel loyalty programs are notoriously complex anyway, it makes sense why some people don’t want to deal with the hassle or extra steps.

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Of course, one easy solution to this problem is forgoing the complicated programs and getting a flat-rate cash-back credit card instead. With the Citi® Double Cash Card, for example, you can earn a flat rate of rewards no matter what you buy – and with no annual fee.

But, what if you want to earn travel rewards? In that case, there are at least a few cards that offer real travel rewards without all the rules or red tape. One such card is the Capital One Venture Rewards Credit Card, which is offering an especially high signup bonus for a limited time.

Five Reasons to Like the Capital One Venture Rewards Credit Card

Before you sign up for any credit card with the goal of earning rewards, make sure you know for sure you can pay your balance in full every month. If you can’t – and if you accidentally rack up debt – the rewards you earn will be absolutely dwarfed by the credit card interest you’ll pay.

Once you know you can handle it, consider the Capital One Venture Rewards Credit Card as a way to earn travel rewards without all the hassle or stress. Here are five reasons this is a smart card option for travel lovers considering a new card.

#1: You can use your rewards for any travel you want.

The best part about the Capital One Venture Rewards Credit Card and other cards that offer fixed travel credit is the fact that you can redeem your miles for any type of travel you want. You can cash them in for hotels, flights, train tickets, or any other type of travel, as long as the purchase “codes” as travel on your credit card statement.

With the Capital One Venture Rewards Credit Card, redemptions work like this: You rack up miles, use your card to make a purchase, then redeem your miles to erase the purchase (or part of the purchase) from your bill.

#2: You don’t have to worry about rewards programs, blackout dates, or capacity controls.

Being able to redeem miles for any type of travel comes with notable advantages. Unlike if you had airline miles or hotel rewards to spend, you can use the miles earned from your Capital One Venture Rewards Credit Card for any travel you want – even over the holidays or during other busy travel times.

Another advantage that comes with being able to book any type of travel is the fact that you can shop around. If you find an American Airlines flight you want cheaper on Expedia.com, for example, you can book the cheaper fare and redeem fewer miles.

#3: You earn a flat two miles per $1 spent on everything you buy.

If you’re one of those people who can’t stand keeping track of rotating bonus categories or rewards limits, the Capital One Venture Rewards Credit Card may be a fresh breath of air. This card offers a flat two miles per dollar back – so about a 2% kickback — no matter what you buy, and you can earn an unlimited amount of rewards.

Without bonus categories to keep track of, you can use the card for all your regular spending and rack up unlimited rewards without getting a case of FOMO or worrying you’re not maximizing the best you can.

#4: You get a huge signup bonus.

Speaking of maximizing, it’s hard to beat a card that offers 50,000 miles worth $500 in travel. You can earn this bonus after you spend $3,000 on your card within three months of opening an account.

Depending on where you’re traveling and when, $500 could easily be enough to cover a few round-trip domestic flights or one international flight. You could use it to stay several nights in a hotel, or to book a train ride across the country.

And obviously, the bonus can go even further if two spouses sign up for their own cards. With two signup bonuses to spend, you could almost pay for a week-long cruise or another inexpensive vacation option in its entirety.

#5: There’s no annual fee the first year and no foreign transaction fees.

While the Capital One Venture Rewards Credit Card does charge a $95 annual fee, the fee is waived the first year. As a result, you get a full 12 months to try out the card’s benefits and rewards to see if the fee is worth it.

While the one-time bonus of 50,000 miles (once you spend $3,000 on purchases within 3 months) with no annual fee makes year one a no-brainer, you’ll have to run the numbers in subsequent years. Generally speaking, you’ll need to spend more than $5,000 on the card annually to make the fee worth it since, at 2 miles per dollar, $5,000 in spending is worth $100 in travel rewards.

Please Note: Information about the Capital One Venture Rewards Credit Card have been collected independently by TheSimpleDollar.com. The issuer did not provide the details, nor is it responsible for their accuracy.

Editorial Note: Compensation does not influence our recommendations. However, we may earn a commission on sales from the companies featured in this post. To view our disclosures, click here. Opinions expressed here are the author’s alone, and have not been reviewed, approved or otherwise endorsed by our advertisers. Reasonable efforts are made to present accurate info, however all information is presented without warranty. Consult our advertiser’s page for terms & conditions.

Holly Johnson

Contributing Writer

Holly Johnson is a frugality expert and award-winning writer who is obsessed with personal finance and getting the most out of life. A lifelong resident of Indiana, she enjoys gardening, reading, and traveling the world with her husband and two children. In addition to The Simple Dollar, Holly writes for well-known publications such as U.S. News & World Report Travel, PolicyGenius, Travel Pulse, and Frugal Travel Guy. Holly also owns Club Thrifty.