Capital One VentureOne Card Review: Earn Travel Rewards With No Annual Fee

Capital One VentureOne Rewards Benefits

The Capital One VentureOne Card has a few handy perks for those who occasionally travel and want to maximize rewards on spending. While it doesn’t offer the same benefits as some premium travel cards, those cards typically have high annual fees.

Unlimited Miles

The VentureOne Card earns an unlimited 1.25 miles per dollar on purchases and an unlimited 5 miles per dollar on hotels, vacation rentals and car rentals booked through Capital One Travel. This simple reward structure makes this card convenient for those who don’t want to keep track of rotating categories or different earning rates for purchases.

There’s no limit to the number of miles you can earn, and Capital One miles don’t expire as long as your account is open and in good standing.

Welcome Bonus

For a limited time, earn $300 in travel bonuses. Enjoy $100 to use on Capital One Travel in your first cardholder year, plus earn 20,000 bonus miles once you spend $500 on purchases within the first 3 months from account opening – that’s equal to $300 in travel. This is a relatively low amount of spending in that timeframe. I used the miles from my bonus to pay for a hotel stay for my wife and me.

Capital One miles are worth 1 cent each when you redeem them through Capital One Travel or to “erase” eligible travel purchases from your statement, so the 20,000 bonus miles are worth $200 in travel. However, you can potentially get a higher value from Capital One miles by transferring them to the issuer’s airline and hotel partners. (This metric was generated and provided by the Publisher).

No Annual or Foreign Transaction Fees

Most good travel credit cards don’t charge foreign transaction fees, making them useful for international travel. However, some of these cards provide premium travel perks in exchange for a high annual fee. That isn’t the case for the VentureOne Card, which charges no annual or foreign transaction fees

0% Introductory APR

This card offers a 0% intro on purchases and balance transfers for 15 months, then 19.24% – 29.24% (Variable) APR. This means you can use it to pay off purchases over time or consolidate debt from other credit cards, saving money on interest.

However, balance transfers require a fee: 3% during the introductory period and 4% thereafter. That said, balance transfer credit cards can be an excellent way to focus on paying down credit card debt, even with the fee.

Capital One VentureOne Rewards Drawbacks

While the Capital One VentureOne Card’s lack of annual fee and simple reward structure can be appealing, it has drawbacks. Consider these downsides before applying.

Low Base Reward Rate

The VentureOne Card offers a slightly lower base rewards rate (1.25x miles on every purchase, every day) than other cards with no annual fee. For instance, you can find several no-annual-fee 2% cash-back cards on the market, though you might still prefer the VentureOne Card for its ability to transfer miles to airline and hotel partners.

If you’re willing to pay an annual fee, you have even more options. For example, this card’s $95-annual-fee sibling, the Capital One Venture Rewards Credit Card, has a higher base rate of 2 miles per dollar and comes with a bigger bonus and more benefits.

No Premium Travel Perks

Most travel credit cards come bundled with a slew of useful perks, such as ​​travel insurance and statement credits. As a no-annual-fee card, the VentureOne Card is light on benefits.

Transfer Partners Are Mostly International

Capital One has over a dozen airline and hotel partners to which you can transfer miles, but most of its airline partners are based outside the U.S. (except JetBlue TrueBlue). Options include Air Canada Aeroplan, British Airways Executive Club and Air France-KLM Flying Blue.

If you’re comfortable with redeeming airline miles to book partner flights within an alliance, this won’t be a huge limitation, but if you’re new to travel rewards, you might face a learning curve.

Who Is the Capital One VentureOne Card Best For?

The Capital One VentureOne Card is a good option if you’re looking for an entry-level travel card without an annual fee. It’s also ideal for those who only travel occasionally and don’t feel they need premium travel perks, such as free checked bags and airport lounge access.

If you travel more or want to earn rewards at a faster rate, consider a more premium card from Capital One or another issuer like Chase or American Express (an advertising partner).

Is Capital One VentureOne Rewards the Right Card for You?

The Capital One VentureOne Card may be right for you if:

• You prefer to avoid paying credit card annual fees
• You’re a new or occasional traveler
• You prefer a credit card with simple rewards
• You use one or more of Capital One’s transfer partners

Alternatives to the Capital One VentureOne Rewards

If you’re looking for a no-annual-fee travel card like the VentureOne Card, these are two top alternatives:

• Discover it® Miles: This card has no annual fee and earns an unlimited 1.5x miles on every purchase. Rather than giving you a flat welcome bonus, Discover matches all the miles you’ve earned at the end of your first year. You can also redeem your miles for cash.
• Bank of America® Travel Rewards credit card: This card earns an unlimited 1.5 points per dollar on every purchase, and Bank of America Preferred Rewards® members can earn 25% to 75% more points. The current bonus is 25,000 points (a $250 value) after you spend $1,000 on purchases in the first 90 days of account opening.