A Simple and Useful Travel Rewards Card
Credit Needed: Good/Excellent
If you’re looking for a credit card with easily earned and redeemed rewards, the Capital One VentureOne Rewards Credit Card could be for you. Every purchase you make on the card will earn 1.25 miles per dollar spent. There is no limit to how many miles you can earn. You can even start off by earning 20,000 bonus miles if you spend $1,000 within your first three months of having the card.
Redeeming your miles is easy, especially when you redeem for travel purchases. When you redeem for travel purchases, 100 miles equals $1 which is a great return when compared to other cards. So your sign-up bonus of 20,000 miles becomes $200 toward travel. While you can redeem your miles for cash or gift cards, the returns aren’t as good.
Interestingly, there are a couple ways you can use your miles for travel purchases. You could easily book your hotels or flights through Capital One. If you prefer to buy through a different website or service, however, you can still use your Capital One VentureOne miles. This is done through Purchase Eraser. All you have to do after making your purchase is redeem your miles through Purchase Eraser for a statement account to cover the cost of your travel purchase.
The Capital One VentureOne Rewards Credit Card automatically comes with a bunch of great perks as well. For example, when it comes to making your payments, you can set up Autopay and choose your own monthly due date. That way, you can easily manage your payments according to your own budget and schedule. Capital One includes fraud and security coverage for you and your account. Visa Signature Benefits will also apply to you as a VentureOne cardholder. These Visa benefits include travel upgrades, auto rental insurance, shopping discounts and more.
Luckily, the Capital One VentureOne Rewards Credit Card has no annual fee, foreign transaction fees or penalty APR. You’ll also be treated to a 0% intro APR on purchases for your first 12 months of having the card. After that, the purchase APR is 14.24% - 24.24% Variable, depending on your creditworthiness and varying with the Prime Rate. The APR for transfers is also 14.24%-24.24%, varying according to your creditworthiness and the Prime Rate, while the APR for cash advances is 24.24% Variable. Cash advances also carry a fee of either $10 or 3% of the transaction fee, whichever amount is greater.
No annual fee - It’s always nice when you can earn rewards and gain protections from your credit card. It’s even better when you don’t have to pay an extra fee for those benefits.
No foreign transaction fee - You won’t have to worry about using your card when traveling and making purchases abroad.
Security assistance - Capital One won’t hold you accountable for any fraudulent charges and will make sure your account stays protected.
No penalty APR - If you make a late or returned payment, you won’t have to suffer through months of an elevated APR. You’ll still have to pay a one-time fee, but you don’t have to fear a penalty APR.
Visa Signature Benefits - Your Capital One VentureOne Rewards Credit Card gives you access to a number of Visa Signature Benefits. This includes complimentary travel upgrades and savings at hotels and spas, 24/7 Concierge services, rental car insurance for theft or damage, shopping discounts and extended warranties.
Emergency card replacement - Should your card go missing, you can quickly get an emergency card replacement and a cash advance.
Who It Benefits
The Capital One VentureOne Rewards Credit Card would best benefit people who like to travel, but aren’t necessarily frequent travelers. Frequent travelers will want a higher earning card that offers more travel perks. But while this card doesn’t offer the highest rewards, that doesn’t mean it won’t be a solid addition to some travelers’ wallets.
If you don’t spend the bulk of the year flying around the world or staying at hotels, but you still like to travel, this card could be for you. You can earn 1.25 miles on your groceries, when you fill up the tank, buy a new outfit and more. Plus, you won’t have to pay an annual fee for this card. That way, you can get to your vacation a little faster by using your miles.
How It Works
With the Capital One VentureOne Rewards Credit Card, you earn an unlimited 1.25 miles per dollar spent on all purchases. You can earn 20,000 bonus miles by spending $1,000 in purchases within your first three months after opening the card. This makes it super simple to earn miles.
It’s also just as easy to redeem your miles for travel rewards. One hundred miles is redeemed for $1 when used toward travel purchases. You can make travel purchases in a few ways: You could use your miles to make your travel plans directly through Capital One, or if you prefer to use a different website or travel outlet, you could do that, too. Just use your Capital One card to make the purchase. Then you can use Capital One’s Purchase Eraser to redeem your miles for a statement credit that will cover your travel purchase. You can decide whether to use your miles for some or all of the cost.
You could also redeem your miles for cash back or gift cards. However, your miles won’t be worth quite as much as they are for travel purchases. You will need to have a Capital One account to find out the exact return rates for your miles.
The Capital One VentureOne Rewards Credit Card provides cardholders with automatic insurance and protections. When you use your card for auto rentals, Capital One provides insurance for damages and theft. You won’t be held accountable for fraudulent charges and Capital One will assist you should you become a victim of identity theft.
You will be able to choose your own monthly due date. You can also set up autopay so your bills will always be paid on time. Your purchases and transfers on the card are subject to an APR of 14.24% - 24.24% Variable, depending on your creditworthiness and varying with the Prime Rate. However, your first 12 months with the Capital One VentureOne Rewards Credit Card has a 0% purchase APR. The APR for cash advances is 24.24% Variable. Cash advances will also cost either $10 or 3% of the transaction fee, whichever is greater.
What's the Catch
The catch to the Capital One VentureOne Rewards Credit Card has to do with its rewards system. The card is designed to provide great and easy rewards when it comes to travel rewards, but not much else. While you can still redeem your miles for cash back or gift card rewards, you won’t get as much for your earned points. So if you apply for this card, you shouldn’t expect excellent all-around rewards.
Just the Math Please
You earn 1.25 miles per dollar spent on all purchases. There is no limit to how many miles you can earn. You can also earn 20,000 bonus miles by spending at least $1,000 in the first three months of owning the card.
When redeemed for travel rewards, 100 miles equals $1. When redeemed for cash back or gift cards, the ratio is less. You must have a Capital One account to see the exact returns.
Balance transfers carry an APR of 14.24% - 24.24% Variable, depending on your creditworthiness and varying with the Prime Rate. All balance transfers will incur a 3% fee if Capital One offers you a promotional APR. There will not be a fee, if your balance is transferred at the regular balance transfer APR.
Rates and Fees
Annual Percentage Rate (APR) for Purchases
0% for 12 Months, then 14.24% - 24.24% Variable based on your creditworthiness. This APR will vary based on the Prime Rate.
APR for Balance Transfers
14.24% - 24.24% Variable based on your creditworthiness. This APR will vary based on the Prime Rate.
APR for Cash Advances
24.24% Variable, depending on the Prime Rate.
Penalty APR and When It Applies
How to Avoid Paying Interest on Purchases
Your due date will be a minimum of 25 days after the close of each billing cycle.
Capital One will not charge you interest on purchases if you pay your entire balance by the due date each month. You will be charged interest on cash advances starting on the transaction date.
Balance Transfer 3% if Capital One offers you a promotional APR. None, if your balance is transferred at the regular transfer APR.
Cash Advance $10 or 3% of each transaction, whichever is greater
Foreign Purchase Transaction None
Late Payment Up to $39
Returned Payment None
How It Stacks Up
While the Capital One VentureOne Rewards Credit Card isn’t a bad card, there are certainly travel rewards cards that offer more. One of these cards is the Bank of America Travel Rewards credit card. Earn 25,000 bonus points if you spend $1,000 in the first 90 days. Receive 1.5 points per dollar spent on all purchases (this is .25 per dollar higher then the VentureOne), with no annual fee. There is no limit to how many points you can earn. The intro 0% rate is similar to that of the VentureOne card, though the ongoing APR is a little higher. If you are already a Bank of America customer, you are able to earn additional points on every purchase.
For great travel rewards that comes with an annual fee, you could look at the Chase Sapphire Preferred Card. The annual fee of $95. However, the card earns double points on travel and dining purchases, as well as one point per dollar spent on everything else. To get the most out of your points, if you redeem toward travel purchases through the Chase Ultimate Rewards portal, you can get 25% more value. Chase also provides the option of transferring your points to a partner travel program, often at a 1:1 ratio. That way you can get even more out of your spending, especially if you already have a frequent traveler membership with an airline or hotel. Chase cardmembership will also automatically provide thorough protections and benefits.
If you want to stay within the Capital One family, you may want to consider the Capital One Venture Rewards Credit Card. The Venture Rewards card offers some of the same benefits as the VentureOne Rewards card but there are some notable differences. Earn 2x unlimited miles per dollar spent on every purchase. Earn 50,000 miles once you spend $3,000 on purchases within the first three months. That is double sign up bonus that you could earn with the VentureOne Rewards card. However, a greater amount of purchases is required in the same time frame. One hundred miles will still be redeemed as $1 when used toward travel. This card does come with an annual fee of $95, but the first year has an intro fee of $0.
The Capital One VentureOne Rewards Credit Card is a simple travel rewards credit card. By earning 1.25 miles per every dollar spent, it’s easy to rack up miles. Capital One also makes it easy for you to redeem those miles for your travel purchases. You don’t even have to purchase through Capital One’s travel portal to get the most out of your miles. You can still purchase through your favorite travel website or travel agent and use your miles toward those purchases. No matter which method you use, 100 miles will still get you $1.
So if you like to travel, but aren’t a frequent traveler or a big travel spender, the Capital One VentureOne Rewards Credit Card could be the card for you. It’s simple and easy to use, making it ideal for people who aren’t into strategizing their credit card rewards. Plus, the lack of an annual fee means you won’t be overwhelmed by simply owning the card.