2021 Review: Capital One Venture Rewards Card – A Hotel Card for You?
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The Capital One Venture Rewards card is a pretty simple, yet rewarding, card. It earns 2X miles per dollar for every purchase, and allows you to transfer those miles to a variety of travel partners.
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The information related to Capital One VentureOne Rewards Credit Card and Hilton Honors American Express Surpass® Card have been collected by Credit Card Insider and have not been reviewed or provided by the issuer or provider of these products.
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
- 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 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 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||15.99% - 23.99% Variable||
|Capital One VentureOne Rewards Credit Card (Review)||$0||0% 15 months, then 14.99% - 24.99% Variable||
Insider Advice: Getting the Most Out of Your Card
- Use it for everything else: 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 Venture Rewards card can provide the equivalent of 2% cash back for every purchase. 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.
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).
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:
|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.
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.
|Aeromexico Club Premier||1:1|
|Air Canada Aeroplan
|Air France KLM Flying Blue
|ALL Accor Live Limitless||2:1|
|British Airways Executive Club
|EVA Infinity MileageLands
|Qantas Frequent Flyer
|TAP Portugal Miles&Go||1:1|
|Turkish Airlines Miles&Smiles
- Luxury Hotel Collection: The Luxury Hotel Collection 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.
- Visa Concierge: You can call your Visa 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.
- Travel and Emergency Assistance Services: A variety of services like medical and legal referrals, emergency transportation or ticket replacement, and pre-trip assistance
- Roadside Dispatch: Call 1-800-847-2869 for help while driving, for services like towing, tire changing, and fuel delivery.
- Auto Rental Insurance: 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.
- Warranty Manager Service: Monitor product warranties, and register to double an eligible manufacturer’s warranty up to one additional year, for warranties of three years or less.
- Capital One Second Look Fraud Coverage: Automatically monitors your account 24/7 for fraudulent activity
Some of the above benefits are provided by Visa or Mastercard and may vary by product. See your respective Guide to Benefits for details, as terms and exclusions apply.
The Terms & Fees
|Purchase APR||Balance Transfer APR||Cash Advance APR|
|15.99% - 23.99% Variable||15.99% - 23.99% Variable||23.99% Variable|
|Annual Fee||Foreign Transaction Fee|
|Balance Transfer Fee||Cash Advance Fee|
|$0 at this Transfer APR||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
The information related to Capital One VentureOne Rewards Credit Card has been collected by Credit Card Insider and has not been reviewed or provided by the issuer or provider of this product.
American Express is a Credit Card Insider advertiser.
American Express is a Credit Card Insider advertiser.
The information related to Hilton Honors American Express Surpass® Card has been collected by Credit Card Insider and has not been reviewed or provided by the issuer or provider of this product.
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 Cards
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