Capital One Venture Rewards Credit Card Review - Two Miles Per Dollar Spent

No matter what time of year it is, if you’re like me, you can really use the extra cash, the extra miles, the extra anything free to help you out even just a tiny bit….

Here’s what you’ll want to know:

Earn 75,000 miles once you spend $4,000 on purchases within 3 months from account opening. Compare the Venture and VentureOne cards to other miles credit cards in our Venture card review.

The Capital One Venture Rewards Credit Card is one of the best miles rewards credit cards because it earns 2x miles per dollar spent on every purchase (not just airline or travel purchases), has no foreign transaction fees, and comes with a generous sign-up bonus.

You’ve come to Money Under 30, which means you’re smart enough to choose a credit card that fits your needs perfectly.

Here’s our Capital One Venture card review to help you decide if this card—or it’s no-annual fee sibling, the Capital One VentureOne Rewards Credit Card—is right for you.

Quick look: Venture vs. VentureOne

Capital One’s travel rewards credit card has two versions—one with an annual fee, one without.

• The Capital One Venture Rewards Credit Card annual fee is $95. It earns 2x miles on every dollar spent.
• The Capital One VentureOne Rewards Credit Card has no annual fee and earns 1.25 miles per dollar spent.

Capital One Venture Rewards Credit Card overview

The Capital One Venture Rewards Credit Card is one of the best travel rewards credit cards on the market right now. It earns 2x miles on every purchase and has a sign-up bonus of 75,000 miles once you spend $4,000 on purchases within 3 months from account opening.

The Capital One Venture Rewards Credit Card has a $95 annual fee, which is competitive with other premium travel rewards cards like the Chase Sapphire Preferred® Card. While the Chase Sapphire Preferred® Card features a slightly richer signup bonus and perks like an international concierge service, if you want the the most ongoing rewards from your travel card, the Capital One Venture Rewards Credit Card may be a better bet.

Capital One VentureOne Rewards Credit Card overview

The Capital One VentureOne Rewards Credit Card earns only 1.25 miles per dollar spent, but remains a decent choice for someone looking for a travel rewards credit card with no annual fee and no foreign transaction fees.

The Capital One VentureOne Rewards Credit Card gives you 1.25 miles per dollar on every purchase and has no annual fee. You can also earn a one-time bonus of 20,000 bonus miles once you spend $500 on purchases within the first 3 months from account opening.

If you will spend less than $10,000 a year on your next travel rewards credit card, opt for the no-fee VentureOne version.

In addition, the Capital One VentureOne Rewards Credit Card offers a slightly lower regular APR and a 0% introductory APR on purchases and balance transfers (3% fee applies) for 15 months. The Capital One Venture Rewards Credit Card, by contrast, offers no introductory teaser APR.

Venture and VentureOne Credit Card benefits

The Venture and VentureOne cards are appealing for consumers looking for a straightforward travel rewards card that can be easily used both at home and overseas without incurring foreign transaction fees.

Simple rewards

Many users say Capital One’s miles rewards programs have been living up to the card company’s “no hassles” tagline. For example, with these cards you earn rewards at a set rate (either 1.25 miles per dollar or two miles per dollar depending on the card).

Compare this to the Discover it® Cash Back, which pays higher rewards, but only on certain categories and changes those categories every three months.

No foreign transaction fees

Capital One international transaction fees are lower than most U.S. credit cards. They are among cards that do not charge foreign currency transaction fees.

Because that could save you between 2% and 4% on overseas purchases, some would say Capital One cards are among the best credit cards for international travel because of their lack of foreign currency transaction fees.

How do Capital One miles work?

Miles earned with the Capital One Venture and VentureOne can be automatically redeemed as a statement credit for any travel related expense, such as airline, hotel, cruise line and rental car transactions.

Alternately, cardholders can redeem miles by booking on any airline at any time, with no blackout dates, no advance booking required. Miles don’t expire for the life of the account.

When earning miles, there are no limits on when, where or how you earn 2x miles per dollar spent, no retailer specifications or spending categories, no separate rewards enrollment or re-enrollment requirements, and no limit on the number of miles cardholders can accumulate.

Compared to some travel credit cards—particularly airline cards that earn miles good for travel on just one airline, the Venture and VentureOne cards are attractive for their simplicity. If you have available miles, you can simply check boxes on your credit card statement next to travel transactions you want to pay for.

If there’s a downside to Capital One miles, it’s that you can’t stretch their value.

How much are Capital One miles worth?

The Capital One miles earned with the Venture and VentureOne cards are worth a penny a piece. 100 miles equals one dollar’s reward.

That’s exactly average as far as rewards miles go—no better, no worse.

For example, if you’re earning 2x miles with the Venture card, $15,000 in spending earns you 30,000 miles which can buy a $300 airline ticket. That’s better than some miles rewards cards that only give you one mile for every dollar spent and then require you to cash in up to twice as many miles to get a cash-value reward like a gift card.

What credit score do you need for the Venture or VentureOne card?

Both the Capital One Venture and VentureOne require a good or excellent credit score.

In most cases this means using credit for between three and five years, a FICO score of 700 or higher, and not having too much other credit card debt. Use our credit score estimator if you’re not sure.  Other factors also determine credit worthiness.

Compare all Capital One credit cards.

Rates and fees

Summary

The Capital One Venture Rewards Credit Card is a solid choice for a hassle free rewards credit card. Despite it’s $95 annual fee, the Capital One Venture Rewards Credit Card is the better deal if you’ll spend around $10,000 a year or more on the card.

If you’re looking for something a little simpler or want a no annual fee card that earns cash back; consider the Capital One Quicksilver Cash Rewards Credit Card for unlimited 1.5% cash back on every purchase.

Read more

• Best No Annual Fee Travel Rewards Credit Cards
• Which Travel Rewards Cards Give You The Most Miles?