Review: Capital One Venture Rewards and VentureOne Rewards Credit Card

Brendan Harkness

Brendan Harkness | Reviews

Jul 26, 2016 | Updated Aug 10, 2016

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Capital One offers this pair of travel rewards credit cards: the Capital One® Venture® Rewards card and the Capital One® VentureOne® Rewards card.

They’re designed for two different types of travelers: the first is for people who would rather earn rewards more quickly, paying higher fees and interest rates; the second is for those who want lower fees and rates, earning rewards more slowly.

Both offer miles for every purchase you make, a bunch of bonus miles, and a set of travel and shopping benefits. They’re designed for people with excellent credit, though approval is based on other factors as well (like your current financial situation).

Should you be funding your next trip with one of these cards? Keep reading to find out.

Capital One® Venture® Rewards Credit Card

For People with
Good Credit

  • Annual Fee: $59 - Waived first year
  • Interest Rate: 13.24%, 18.24% or 23.24% *Variable
Quick Card Facts
  • Enjoy a one-time bonus of 40,000 miles once you spend $3,000 on purchases within the first 3 months, equal to $400 in travel
  • Earn unlimited 2X miles per dollar on every purchase, every day
  • Fly any airline, stay at any hotel, anytime
  • Travel when you want with no blackout dates
  • Miles don't expire and there's no limit to how many you can earn
  • No foreign transaction fees
  • No annual fee for the first year; $59 after that
  • 100% free Capital One® Credit Wise - see your monthly credit score anytime and get automatic alerts

Capital One® VentureOne® Rewards Credit Card

For People with
Excellent Credit

  • Annual Fee: $0
  • Interest Rate: 12.24%, 17.24% or 22.24% *Variable
Quick Card Facts
  • Enjoy a one-time bonus of 20,000 miles once you spend $1,000 on purchases within the first 3 months, equal to $200 in travel
  • Earn unlimited 1.25 miles per dollar on every purchase, every day and pay no annual fee
  • Fly any airline, stay at any hotel, anytime
  • Enjoy a low intro APR on purchases until August 2016; 11.9%-21.9% variable APR after that
  • Travel when you want with no blackout dates
  • No foreign transaction fees
  • Miles don't expire and there's no limit to how many you can earn
  • 100% free Capital One® Credit Wise - see your monthly credit score anytime and get automatic alerts

The Rewards

The Venture provides higher rewards and a larger bonus, in exchange for higher fees and rates.

Venture Rewards

  • 2 miles per dollar for every purchase you make
  • 40,000 bonus miles for spending $3,000 in the first 3 months

VentureOne Rewards

  • 1.25 miles per dollar for every purchase you make
  • $20,000 bonus miles for spending $1,000 in the first 3 months

You can redeem your miles to pay for travel purchases made in the last 90 days, or to book new travel through capitalone.com. Every mile is worth 1 cent.

Travel purchases generally include:

airfare hotels buses taxis car rentals
rail lines limo services cruise lines travel agents time shares

Take note that while you can use these cards to make any kind of purchases, you can only redeem your miles to pay for travel purchases.

The Benefits

These cards offer the same extra perks and benefits, featuring a well-rounded Visa Signature benefits package, an upgrade from the basic Platinum package.

You’ll be able to make purchases and travel with comfort and security with both of these cards, and you’ll have a personal concierge service to call for help with a variety of tasks.

Perks

  • Visa Signature Concierge Service

    A 24/7 personal assistant to help in a variety of non-emergency tasks.

  • Personalized Payment

    Pick your monthly due date.

  • Luxury Hotels

    Get benefits at over 900 hotel properties.

  • Movie Discounts

    Get discounts at fandango.com/visasignature

  • Fine Wine & Food

    Special dining and wine experiences.

  • Sports Experiences

    Access to popular sporting events and premiere golf benefits at Pebble Beach Resorts®.

  • Shopping Discounts

    Discounts and special offers at premium retailers, from jewelry to apparel and electronics.

Account Management

  • Account Alerts

    Get alerts about account information on your phone.

  • Mobile & Tablet Apps

    Manage your account from your phone or tablet.

  • Financial Tools & Tips

    Educate yourself on credit with Capital One resources.

  • Capital One Wallet℠

    Provides charge notifications, account balances, available credit, and rewards earnings.

  • Capital One Credit Wise

    Free access to your credit score.

  • Capital One Second Look℠

    Capital One monitors your account for unusual and duplicate charges.

Security

  • Fraud Protection

    You will not be held responsible for unauthorized use of your card.

Shopping

  • Purchase Protection

    Provides coverage against lost or stolen items within 90 days from the date of purchase.

  • Extended Warranty Protection

    Extends a manufacturer’s warranty at no charge for up to 1 year on warranties of 3 years or less.

Travel

  • Travel Assistance Services

    Provides help with travel emergencies, including emergency card replacement or cash advances.

  • Travel Accident Insurance

    Covers you and your family in the case of physical accidents.

  • Roadside Assistance Hotline

    Assistance with services such as towing, changing a flat, or boosting a battery in case of emergency.

  • Auto Rental Collision Damage Waiver

    Provides coverage against theft and collision, as long as the car rental company’s own insurance is declined.

  • Lost Luggage Reimbursement

    If checked or carry-on bags are lost or damaged, provides reimbursement up to $3,000 per passenger.

The Costs & Fees

Card Annual Fee Intro Purchase APR Regular Purchase and Balance Transfer APR Cash Advance APR Foreign Transaction Fee
Venture Rewards $59 - Waived first year N/A 13.24%, 18.24% or 23.24% *Variable 23.24% *Variable None
VentureOne Rewards $0 0% for 12 months 12.24%, 17.24% or 22.24% *Variable 23.24% *Variable None
Card Penalty APR Late Fee Returned Payment Fee
Venture Rewards See Terms Up to $35 See Terms
 VentureOne Rewards See Terms Up to $35 See Terms

The Venture card is for people who don’t mind paying a bit more interest on purchases and balance transfers, as well as an annual fee. The VentureOne card has no annual fee, and you’ll also get that 0% intro APR for 12 months (only for purchases, not balance transfers).

Remember that you can avoid interest fees by paying off your balance in full each month. If you take that strategy, all you’ll need to worry about with the Venture card is the annual fee.

So, if you’ll end up using your Venture card quite a bit, earning enough points and getting enough value from the extra benefits, you’ll be able to effectively negate the annual fee. This makes the card basically free to use.

The Bottom Line: 4 out of 5 Stars

If you’re a frequent traveler without a credit card, you should consider the Capital One Venture Rewards or VentureOne Rewards Credit Card. You’ll be able to earn miles with every purchase that you can put towards travel expenses, and you’ll have a nice set of benefits to make your trips more enjoyable (or help you out if something goes wrong).

These cards are both designed for general travel of all kinds, rather than flying with one particular airline or staying at one particular hotel. If you tend to travel by taxi, rental car, or bus, and use a variety of airlines and hotels, these cards are for you.

If you don’t travel as much, the VentureOne card will probably be a better fit because there’s no annual fee to deal with. If you travel more often, the Venture card should be worth the annual fee.

How much do you need to spend to make the Venture card worth it? Well, to earn $59 worth of miles (which is 5,900 miles) you’ll need to spend $2,950 on travel per year. If you’re doing that already, the Venture card should be free for you to use as long as you avoid interest. And remember, that fee is waived the first year, and you’ll be able to earn 40,000 bonus points – enough to pay for almost 7 years of card use.

We gave these cards 4 out of 5 Stars because they are some of the better general-purpose travel rewards credit cards. The VentureOne has no annual fee and a nice intro APR, while the Venture has quite a low annual fee for the value it provides. They both have a fairly complete set of extra benefits for the cost, including some that go beyond simple protections, like hotel and entertainment discounts. The one real downside to these cards is that you can only redeem your miles for travel purchases, although this is reasonable because they’re meant to be travel cards.

Want to learn more or apply for these cards? Just click the name below.

Capital One® Venture® Rewards Credit Card

For People with
Good Credit

  • Annual Fee: $59 - Waived first year
  • Interest Rate: 13.24%, 18.24% or 23.24% *Variable
Quick Card Facts
  • Enjoy a one-time bonus of 40,000 miles once you spend $3,000 on purchases within the first 3 months, equal to $400 in travel
  • Earn unlimited 2X miles per dollar on every purchase, every day
  • Fly any airline, stay at any hotel, anytime
  • Travel when you want with no blackout dates
  • Miles don't expire and there's no limit to how many you can earn
  • No foreign transaction fees
  • No annual fee for the first year; $59 after that
  • 100% free Capital One® Credit Wise - see your monthly credit score anytime and get automatic alerts

Capital One® VentureOne® Rewards Credit Card

For People with
Excellent Credit

  • Annual Fee: $0
  • Interest Rate: 12.24%, 17.24% or 22.24% *Variable
Quick Card Facts
  • Enjoy a one-time bonus of 20,000 miles once you spend $1,000 on purchases within the first 3 months, equal to $200 in travel
  • Earn unlimited 1.25 miles per dollar on every purchase, every day and pay no annual fee
  • Fly any airline, stay at any hotel, anytime
  • Enjoy a low intro APR on purchases until August 2016; 11.9%-21.9% variable APR after that
  • Travel when you want with no blackout dates
  • No foreign transaction fees
  • Miles don't expire and there's no limit to how many you can earn
  • 100% free Capital One® Credit Wise - see your monthly credit score anytime and get automatic alerts
Not the right cards for you? To check out our picks for the best travel credit cards, see the Best Travel Credit Cards – 2016.

Was this review helpful to you? Go ahead and share it with a friend! And if you use one of these cards, click here to leave your own  review of the Venture Rewards Credit Card, or click here to leave a review of the VentureOne Rewards Credit Card, we’d love to hear from you!

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