2021 Review: Capital One Venture Rewards Card – A Hotel Card for You?
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Capital One Venture Rewards Credit Card
The Capital One Venture Rewards card is a pretty simple, yet rewarding, card. It earns 5X miles at Uber Eats and 2X miles for every other purchase, and allows you to transfer those miles to a variety of travel partners.
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Our Rating: 5 Out of 5 Stars
We give the Capital One Venture Rewards Credit Card 5 out of 5 Stars because it can provide an equivalent of at least 2% back on all purchases, which is competitive with other reward cards, with solid mile transfer opportunities.
Why We Like It
- 5X miles per dollar with Uber Eats (through 1/31/21)
- 2X miles per dollar on every other purchase
- 60,000 bonus miles for spending $3,000 in the first 3 months
- Transfer miles to a selection of airline and hotel partners
- Visa Signature benefits, like the Luxury Hotel Collection and concierge service
- TSA PreCheck/Global Entry statement credit
- No foreign transaction fees
Why It Could Be Better
- $95 annual fee
- Must redeem for travel expenses to get the best value for your miles
The Venture Rewards card is a general-use travel card, designed for travelers who don’t spend with one particular airline or hotel more than others. New cardholders will get a metal version of the Venture Rewards, with a stainless steel veneer.
Capital One recently added the ability to transfer miles to a variety of airline and hotel loyalty programs, making this card quite a bit more valuable.
If you’re a frequent flyer, you may find the available TSA PreCheck/Global Entry statement credit useful for reducing time spent in security and customs lines. The credit is available every four years.
The Venture Rewards has a $95 annual fee. And you’ll pay no fee on foreign transactions.
There’s another card in Capital One’s Venture line, with different card terms and rewards. It might be a better option for you, depending on what you’re looking for in a travel credit card. Both of these cards are designed for excellent credit.
| Card | Annual Fee | Purchase APR | Rewards |
|---|---|---|---|
| Capital One Venture Rewards Credit Card (This review) | $95 | 17.24% - 24.49% (Variable) |
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| Capital One VentureOne Rewards Credit Card (Review) | $0 | 0% for 12 months, then 15.49% - 25.49% (Variable) |
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Insider Advice: Getting the Most Out of Your Card
- Stay in for the night: You’ll also earn 5X miles per dollar for purchases from Uber Eats, a nice perk when you don’t feel like cooking.
- Use it for everything else: Other than Uber Eats, use this card to earn 2X miles everywhere, a pretty competitive rate among credit cards. Use other reward cards for certain purchases when you’ll earn more rewards.
- Don’t miss out on hotel perks: Check the Luxury Hotel Collection to find eligible hotels where you’ll have access to extra perks and complimentary services.
- Reach the welcome bonus: Spend enough to get the bonus: 60,000 bonus miles for spending $3,000 in the first 3 months
- Get more out of your miles: Transfer your miles to a partner airline or hotel to potentially get a better value for them.
- Get through the airport quicker: Expedite your travels at no additional cost by using the card to pay for a TSA PreCheck or Global Entry membership. You’ll receive a statement credit for the application fee, which is available every four years.
- Use it overseas: Bring this card with you outside the country because it has no foreign transaction fees, and it’s also a Visa so it will be accepted just about everywhere.
- Want a metal card?: If you have a plastic version of this card and would like the metal version, you may be able to upgrade by calling customer support and asking.
The Rewards
The Venture Rewards card can provide the equivalent of 2% cash back for every purchase (aside from Uber Eats, which could earn 5%). This assumes you’re redeeming for travel expenses at one cent per mile; if you get a better deal through a mile transfer you’ll get higher cash back equivalents.
Earning
| Spending Rewards |
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| Introductory Bonus |
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You can earn an unlimited number of miles, and they’ll never expire as long as your account is open and in good standing (not in default).
Redeeming
You’ll have three basic redemption options to choose from after earning your miles. You can redeem them for:
- Travel expenses: Provide 1 cent per mile
- Past travel expenses from the last 90 days can be paid for with miles using the Purchase Eraser system.
- New travel reservations can be booked with miles through Capital One’s website or by calling customer support.
- Cash back statement credits, gift cards, merchandise: Provide less than 1 cent per mile
- Mile transfers: Provide various mile values, depending on the deal
We recommend always redeeming for mile transfers or travel expenses because you’ll get at least 1 cent per mile. We’ll explain how to redeem for travel expenses first, and then we’ll go over mile transfers.
You can redeem miles for either past or upcoming travel expenses. Miles don’t expire, so you can hold on to them until you can redeem in this way.
The Purchase Eraser system will let you find eligible travel expenses from the past 90 days, and you can use miles to pay them off. Partial redemptions are available, to pay for part of the cost of a purchase.
The types of eligible travel expenses are:
| Airfare | Hotels | Buses | Taxis | Car Rentals |
| Rail Lines | Limo Services | Cruise Lines | Travel Agents | Time Shares |
Miles can also be used to pay for travel reservations as you make them. You’ll need to book travel either through Capital One’s website or by calling customer support to redeem miles in this way.
Mile Transfers
You can transfer your Capital One miles to several different airline and hotel loyalty programs, where you might find a better value than 1 cent per mile.
Most of the transfer rates are 2:1.5 (2 Capital One miles for 1.5 partner miles), although some partners have a lesser rate.
| Partner | Transfer Rate |
|---|---|
| Aeromexico Club Premier | 2:1.5 |
| Air Canada Aeroplan |
2:1.5 |
| Air France KLM Flying Blue |
2:1.5 |
| Alitalia MilleMiglia |
2:1.5 |
| Asia Miles | ? |
| Avianca LifeMiles |
2:1.5 |
| Emirates Skywards |
2:1 |
| Etihad Guest |
2:1.5 |
| EVA Infinity MileageLands |
2:1.5 |
| Finnair Plus |
2:1.5 |
| JetBlue TrueBlue |
2:1.5 |
| Qantas Frequent Flyer |
2:1.5 |
| Singapore KrisFlyer |
2:1 |
| ALL Accor Live Limitless | 2:1 |
The Benefits
The Venture Rewards card comes with benefits from two different sources:
- Card and account features from Capital One
- Protections and benefits from Visa Signature
Visa Signature cards come with an upgraded set of benefits and protections compared to the more basic Visa Platinum. (The Capital One VentureOne Rewards Credit Card (Review) is a similar offer, but it’s available at either the Visa Platinum or Visa Signature level, depending on your credit limit — $5,000 and above provides a Visa Signature.)
- Luxury Hotel Collection: The Luxury Hotel Collection by Visa Signature provides special perks at select hotels around the world.
- TSA PreCheck/Global Entry statement credit: If you pay for the application for Global Entry ($100) or TSA Pre✓ ($85) with your card you’ll receive a statement credit for the fee, once every five years. These programs provide expedited screening at certain airports.
- Shopping discounts: Use your Visa Signature card to get discounts at certain retailers. There are usually a few dozen offers available here, for both online and physical stores.
- Fine Wine & Food: This benefit is similar to the shopping discounts above but it’s focused on food, with a bit of wine thrown in too. It includes benefits at over 50 wineries in Sonoma Wine County, California, and some discounts at common merchants.
- Sports and Entertainment Offers: Get exclusive discounts and offers at sports events and a variety of other experiences.
- Visa Signature Concierge: You can call your Visa Signature concierge service any time at 1-800-953-7392. They’re ready to help with a wide variety of non-emergency tasks, very much like a personal assistant.
- CreditWise credit monitoring: Keep tabs on your VantageScore 3.0 based on your TransUnion credit report, and see data from your TransUnion report.
- Capital One Second Look Fraud Coverage: Automatically monitors your account 24/7 for fraudulent activity
- Travel and Emergency Assistance Services: A variety of services like medical and legal referrals, emergency transportation or ticket replacement, and pre-trip assistance
- Travel Accident Insurance: You, your spouse, and unmarried dependent children are insured up to $250,000 against loss of life, limb, sight, speech, or hearing when traveling by common carrier.
- Roadside Dispatch: Call 1-800-847-2869 for help while driving, for services like towing, tire changing, and fuel delivery.
- Auto Rental Collision Damage Waiver: Provides coverage for collision damage and theft of eligible rented vehicles, when you decline the rental company’s own insurance
- Lost Luggage Reimbursement: Provides up to $3,000 in reimbursement to cover the cost of lost or damaged luggage
- Purchase Security: If an eligible item you buy is lost or damaged, you can be reimbursed up to $500 per claim.
- Extended Warranty: Double an eligible manufacturer’s warranty up to one additional year, for warranties of three years or less.
The Terms & Fees
| Purchase APR | Balance Transfer APR | Cash Advance APR |
|---|---|---|
| 17.24% - 24.49% (Variable) | 17.24% - 24.49% (Variable) | 24.49% (Variable) |
| Annual Fee | Foreign Transaction Fee |
|---|---|
| $95 | None |
| Balance Transfer Fee | Cash Advance Fee |
|---|---|
| $0 | 3% of the amount of the cash advance, but not less than $10 |
| Penalty APR | Late Fee | Returned Payment Fee |
|---|---|---|
| None | Up to $40 | None |
The terms and fees of the Venture Rewards card are pretty straightforward. If you carry a balance from month to month you’ll accrue interest at the rates shown above. We always recommend paying off your balance in full each billing period, to avoid interest and improve your credit utilization.
There are no foreign transaction fees, and this card is also a Visa. So it will be accepted just about everywhere that credit cards are accepted, and you won’t have to pay extra when outside the country. This is normal for travel cards, though other cards typically charge fees of up to 3%.
The Bottom Line
The Capital One Venture Rewards Credit Card is a pretty simple card, but it has good earnings potential.
2X miles everywhere you spend isn’t a bad deal, and the intro bonus is pretty great too.
This card’s value has increased now that you can transfer Capital One miles to a variety of airlines and hotels, giving you an opportunity to earn more than 1 cent per mile.
There are extra benefits that can potentially come in quite useful, especially the shopping and travel discounts you’ll find. Try to book hotel rooms through the Luxury Hotel Collection to get the most out of this card.
The Venture Rewards is a general-use travel rewards card, good for a variety of spending. But there are many travel card options out there. Take a look at some other travel cards, with rewards for different types of purchases and other kinds of benefits.
How Do I Apply for the Venture Rewards Card?
You can apply now for the Capital One Venture Rewards Card by following the link below.
Most applicants will get an instant decision, but not all. In some cases Capital One may request more information.
What Credit Scores Do I Need to Qualify for the Capital One Venture Rewards Credit Card?
You should have good credit when applying for the Capital One Venture Rewards card for the best shot at approval.
In order to qualify for good credit, your scores would have to fall within the ranges of 670–739 for FICO and 700–749 for VantageScore.
Keep in mind credit card issuers look at other factors in addition to your credit scores when determining your creditworthiness. They’ll consider income and source of income, among other criteria, which could lead to you being approved even if your scores are lower than what’s recommended.
However, that also means even if you have good or higher scores, you could still be denied.
Qualifications and Requirements
- Must be 18 to apply
- Personal identifying information: Name, Social Security number
- Address and contact information: Email, phone number, address
- Financial information: Total annual income, source of income, monthly mortgage/rent payment
- Must not:
- Have applied for a Capital One credit card two or more times in the last 30 days
- Have five or more open credit card accounts with Capital One
- Have a past due Capital One credit card account
- Be over the credit line on a Capital One credit card
- Have had a Capital One credit card that was charged off within the past year
- Have an unresolved, non-discharged bankruptcy
Frequently Asked Question
How do I use my Capital One Venture miles?
There are three main things you can do with your miles. You can redeem them for travel expenses, transfer them to Capital One’s travel partners, or redeem for statement credits, merchandise, or gift cards.
Mile transfers are your best bet, as they could net you a value higher than 1 cent per mile. In this case, the value of your miles will vary depending on how you redeem them.
Alternatives to the Capital One Venture Rewards Credit Card
If you like what the Venture Card has to offer but you don’t want to pay the annual fee, you might find the Capital One VentureOne Rewards Credit Card (Review) more attractive.
You’ll get a similar rewards program to the Venture card, but with 1.25X miles instead of 2X for all non-category purchases. The redemption methods are the same, as are the benefits (except there’s no Global Entry/TSA PreCheck credit). So if the annual fee seemed a bit much for you, you could always go with this version.
| Spending Rewards |
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| Introductory Bonus Offer |
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- Mile transfers: Most travel partners offer a transfer rate of 2:1.5 (2 Capital One miles for 1.5 partner airline miles or hotel points), but some may vary. Transfers to travel partners will often net you a better point value.
- CreditWise credit monitoring: See your VantageScore 3.0 credit score based on your TransUnion credit report, and check data from your TransUnion report.
- Luxury Hotel Collection: Provides special perks at select hotels around the world
- Shopping discounts: Get discounts at certain retailers. There are usually a few dozen offers available here, for both online and physical stores.
- Fine Wine and Food: This is focused on food, with a bit of wine thrown in too. You’ll get certain perks at wineries and discounts from common merchants.
- Sports and Entertainment Offers: Get exclusive discounts and offers at sports events and a variety of other experiences.
- Travel protections: Roadside dispatch, lost luggage reimbursement, rental car insurance, travel accident insurance, and travel and emergency assistance services
- Shopping protections: Purchase security and extended warranty
- Purchase APR: 0% for for 12 months, then 15.49% - 25.49% (Variable)
- Balance Transfer APR: 15.49% - 25.49% (Variable)
- No foreign transaction fee
- Annual fee: $0
The Chase Sapphire Preferred® Card (Review) is another general-use travel card, popular for its point-transfer options to airline and hotel frequent traveler programs.
Rather than providing 2X miles for most purchases, like the Venture Rewards, the Sapphire Preferred offers 5X Ultimate Rewards points per dollar on Lyft rides, and 2X for travel purchases and dining.
The Chase Ultimate Rewards points you earn here will be worth 1 cent each normally, but they can be redeemed for more than that. A 25% point bonus for redeeming for travel through Ultimate Rewards means they’ll be worth 1.25 cents each, for an equivalent of 2.5% cash back on travel.
Points can also be transferred to a variety of airline and hotel loyalty programs at a 1:1 rate, including Southwest Airlines, United Airlines, Virgin Atlantic, Marriott, and Hyatt.
Many people use the Sapphire Preferred to earn points and transfer them to their favorite airline or hotel. It’s a great option as a general-use card for point transfers, with a better transfer program than Capital One.
| Spending Rewards |
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- DoorDash membership: You’ll get a free DoorDash membership for at least a year, known as a DashPass. This gives you free delivery and reduced service fees on orders over $12, which could help you save quite a bit if you tend to order out.
- Luxury Hotel & Resort Collection: The Luxury Hotel & Resort Collection is provided by Chase, and includes benefits at a plethora of locations around the world.
- Shop through Chase: Cardholders can get more points at select retailers with the Shop through Chase marketplace.
- Chase Offers: Receive exclusive offers from a variety of different merchants through Chase.
- Chase Preferred Experiences: As a Sapphire Preferred cardholder you’ll have access to exclusive events and experiences provided by Chase.
- Visa Signature Concierge: You can call 1-800-953-7392 to speak with your Visa Signature Concierge, 24/7.
- Travel protections: Trip delay reimbursement, trip cancellation/trip interruption insurance, baggage delay insurance, lost luggage reimbursement, travel and emergency assistance, travel accident insurance, rental car insurance, and roadside dispatch
- Shopping protections: Purchase protection and extended warranty
- Purchase and Balance Transfer APR: 15.99% - 22.99% Variable
- No foreign transaction fee
- Annual fee: $95
The American Express® Gold Card (Review) has several bonus reward categories, unlike the Venture Rewards. This card has a $250 annual fee, which can be offset by using the benefits effectively each year.
Instead of simply offering 2X miles for every purchase, the Amex Gold card provides more points for eligible flight purchases, and has a few other valuable bonus categories as well. This card isn’t as flexible as the Venture Rewards, but it will be more rewarding for certain purchases.
To offset the $250 annual fee of this card, you can begin by using the $120 dining credit and $100 airline fee credit in full each year (through 2021). That leaves only $30 left to offset, which you could do with a single use of The Hotel Collection’s $100 credit.
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Membership Rewards points can be redeemed for travel expenses at up to 1 cent each, meaning you’d earn an equivalent of 4%, 3%, or 1% cash back with this card, depending on the rate at which you earn points.
Or, points can be transferred to a wide variety of airline and hotel loyalty programs where they might be worth more. You may get as much as 2 cents per point or more through transfers, which would give you a cash back equivalent of 8% when spending in the 4X categories, and 6% in the 3X categories.
- $100 annual airline credit: A $100 credit for incidental fees when you fly, like airline meals or checked baggage fees. You must select a qualifying airline ahead of time to use the credit (through 2021).
- $120 annual dining credit: Earn up to $10 in statement credits monthly when you pay with the American Express Gold Card at participating restaurants and merchants, including Grubhub, Seamless, and Boxed.
- The Hotel Collection: Get a $100 credit for qualifying charges per stay, and room upgrades when available.
- Lowest Hotel Rates Guarantee: If you find your room being advertised for a lesser price you can be reimbursed for the difference.
- Gold Card Destinations: Get a $100 credit on eligible new bookings of vacation packages and cruises that cost at least $3,000.
- Entertainment Access: You’ll be eligible for exclusive access to ticket presales and cardmember-only events.
- American Express Preferred Seating: You can get premium seats for concerts, sporting events, and more.
- Complimentary ShopRunner membership: Enroll in ShopRunner to get free two-day shipping and returns with select retailers.
- Travel protections: Personalized travel service, baggage insurance plan, global assist hotline, rental car insurance, and more
- Shopping protections: Extended warranty and purchase protection
- No foreign transaction fee
- Annual fee: $250
- Earn 60,000 Membership Rewards® points after you spend $4,000 on eligible purchases with your new Card within the first 6 months.
- Earn 4X Membership Rewards® Points on Restaurants worldwide, including takeout and delivery.
- Earn 4X Membership Rewards® points at U.S. supermarkets (on up to $25,000 per calendar year in purchases, then 1X).
- Earn 3X Membership Rewards® points on flights booked directly with airlines or on amextravel.com.
- $120 Dining Credit: Earn up to a total of $10 in statement credits monthly when you pay with the Gold Card at Grubhub, Seamless, The Cheesecake Factory, Ruth’s Chris Steak House, Boxed, and participating Shake Shack locations. This can be an annual savings of up to $120. Enrollment required.
- No Foreign Transaction Fees.
- Annual Fee is $250.
- Terms Apply.
American Express is a Credit Card Insider advertiser.
The Hilton Honors American Express Surpass® Card (Review) is different from the other cards here, because it’s co-branded with Hilton (see other Hilton cards here).
This credit card offers an abundance of Hilton Honors points, although they won’t be worth quite as much as the points you get in competing programs. So it pretty much evens out.
At 30X points per dollar for Hilton purchases, you’ll be earning a cash back equivalent of about 12%–30%, assuming a point value of 0.4–1 cent each (12X points from the card and 18X points from Hilton Honors Gold status).
The Surpass gives cardholders complimentary Hilton Honors Gold status, which comes with several nice perks. There’s an 80% bonus on Base Points earned, rate discounts, and your second guest stays free. Diamond status can be reached by spending $40,000 with the card per year, which has even better benefits.
If you’re looking for a more narrow-focused travel card, and enjoy staying at Hilton properties, this could be a good choice.
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Members will also earn 18X points per dollar at Hilton from their Hilton Honors Gold membership. That brings the total to 30X points per dollar at Hilton, which works out to a cash back equivalent of about 12%–30%.
- Annual Weekend Night Reward: You’ll get a free weekend night after spending $15,000 on purchases in any calendar year. A redeemable code will be emailed to you after meeting the threshold.
- Complimentary Hilton Honors Gold status: Cardholders get Hilton Honors Gold status, which is two tiers above the basic Member status. It comes with some nice benefits, like an 80% bonus on all Base points earned and your fifth night free when booking reward stays of five nights or more with points.
- Fast track to Hilton Honors Diamond status: Cardholders will be awarded with Hilton Honors Diamond status if purchases for a given year reach $40,000. Diamond status comes with better benefits than Gold, including a 100% bonus on Base points and a 48-hour room guarantee.
- Priority Pass Select access: Cardholders get access to over 1,300 Priority Pass airport lounges around the world. This does not grant access to non-lounge Priority Pass experiences. 10 free lounge visits are provided per year. After that, the entry fee will be $32 per person. You’ll need to manually enroll in this benefit.
- Complimentary ShopRunner membership: Free membership with ShopRunner, which provides free two-day shipping and returns from some online retailers. Cardholders must enroll in this benefit.
- Amex Offers: You’ll have access to increased rewards at a wide variety of merchants that changes from time to time.
- Entertainment Access: This benefit, also called Membership Experiences, provides pre-sale tickets to a variety of sports, music, and cultural events, as well as access to certain exclusive experiences.
- Travel protections: Global Assist Hotline, car rental insurance, and baggage insurance plan
- Shopping protections: Purchase protection and extended warranty
- Purchase APR: 15.74% - 24.74% Variable
- No foreign transaction fee
- Annual fee: $95
- Earn 130,000 Hilton Honors Bonus Points with the Hilton Honors American Express Surpass® Card after you use your new Card to make $2,000 in eligible purchases within the first 3 months of Card Membership.
- Earn a Weekend Night Reward from Hilton Honors after you spend $15,000 on purchases on your Card in a calendar year.
- Earn 12X Hilton Honors Bonus Points for each dollar of eligible purchases charged on your Card directly with a hotel or resort within the Hilton portfolio.
- Earn 6X Hilton Honors Bonus Points for each dollar of eligible purchases on your Card at U.S. restaurants, U.S. supermarkets, and U.S. gas stations.
- Earn 3X Hilton Honors Bonus Points for all other eligible purchases on your Card.
- Spend $40,000 on eligible purchases on your Card in a calendar year and you can earn Hilton Honors Diamond status through the end of the next calendar year.
- $95 annual fee.
- Terms Apply.
American Express is a Credit Card Insider advertiser.
Did you like this review? Feel free to share it with a friend! If you use the Capital One Venture Rewards Card, leave a comment below for other readers, we’d love to hear from you!
Interested in another travel card? Take a look at some of our favorites. Best Travel Rewards Credit CardsFor rates and fees of the Hilton Honors American Express Surpass® Card, please click here.
Brendan Harkness
Brendan has been writing about personal finance for over eight years, and is now taking on the challenge of bringing high quality credit education to the masses. He makes sure that Credit Card Insider is covering the most important credit topics transparently and precisely, and that we have up-to-date reviews of credit cards so you can find cards that are right for you.
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