The Capital One Venture is a higher-end version of the Capital One VentureOne card. Here’s how you can tell whether it’s worth it or not for you.
The Capital One Venture Rewards Credit Card is a popular travel credit card that has steadily been improved over the last few years. Today, it’s a much more versatile credit card than it was just a few years ago, and it offers much more value than it ever did. These days it’s known for its flat rate 2X miles on every purchase, flexible redemption options and fairly attractive sign-up bonus.
So, now’s a good time to take a new look at this card and see if it’s really worth it for your needs.
When is the Capital One Venture Rewards worth it?
Like all credit cards, the Capital One Venture Rewards isn’t right for everyone, but here’s a few times when it may be worth it for you.
When you want straightforward travel rewards
Airline, hotel and credit card rewards programs can be extremely complicated and frustrating to use, even for travel rewards experts who study these things for living. So there’s definitely a demand for cards with a simple rewards program. These cards, like the Venture Card, are designed for those who aren’t interested in delving into extreme details in order to receive valuable travel rewards.
The Capital One Venture Rewards simply offers 2X miles for all purchases. And like many other rewards programs, each Capital One mile is worth the standard 1 cent. You can also earn 5X miles on hotels and rental cars booked through Capital One Travel. It’s that simple.
When you’re a travel card beginner
Studying the nuances of frequent flier award charts and hunting for elusive award travel reservations at the lowest mileage levels appeals to advanced award travel enthusiasts. But if you’re just starting out, then there’s nothing easier than using the Capital One Purchase Eraser feature to simply redeem your miles to pay for your existing travel reservations, as long as they were made within the last 90 days. So if you don’t want to be tied to booking travel on the Capital One Travel portal, you can keep your options open with the Venture Card.
And if you ever want to, you can always take your award travel to the next level someday by transferring your Capital One miles to airline miles or hotel points, but that’s up to you. Capital One Miles can be transferred to over 15 airline and hotel partners, most at a 1:1 ratio.
You should also keep in mind that Capital One has been revamping its travel rewards program for some time now, so though the Venture Card itself is simple it’s a great gateway to a great rewards program that rivals even the best.
When you spend in varied categories
With many popular travel rewards credit cards, you earn just 1 point or mile per dollar spent on general purchases and bonus points for select purchases. For example, the Chase Sapphire Preferred® Card offers 2X points on general travel, 3X points on dining, 5X points on Chase Ultimate Rewards travel and 1X points on all other spending.
However, since the Chase Sapphire Preferred only earns bonus points in certain categories, it may not be lucrative if you spend in many different categories. On the other hand, the Capital One Venture Card offers double miles on all purchases, and 5X miles per dollar spent on hotels and rental cars booked through Capital One Travel. This means that you’ll always earn at least 2 miles on every purchase, regardless of how you use your card.
When is the Capital One Venture Rewards not worth it?
Despite its advantages, the Capital One Venture Rewards isn’t for everyone. Here’s an example of when it wouldn’t be worth it to you.
When you travel only occasionally
It’s easy for some frequent travelers to forget that there’s lots of people who don’t travel regularly, especially since the COVID-19 pandemic. If your idea of travel is to take a road trip to visit family or an occasional flight every year or two, then you probably won’t be traveling enough to best utilize the rewards offered by this card. In fact, you might not purchase enough travel to be able to redeem your rewards miles. Those who rarely travel may also have no interest in transferring their rewards to airline and hotel partners.
Those who travel infrequently would probably be best off with a leading cash back card, which are less likely to offer travel-focused bonus categories. For example, the Capital One Savor Cash Rewards Credit Card* offers 4 percent cash back on dining, entertainment and popular streaming services, plus 3 percent at grocery stores. This kind of cash back card could be ideal for those who travel infrequently.
Should you get the Capital One Venture Rewards?
The Capital One Venture Card is a great choice for regular travelers who are looking for a card with a simple rewards program. It also makes sense for those who spend in varied categories, but always want to earn the most possible rewards. Just keep in mind that it wasn’t designed for those who rarely travel, and there are other cards out there that offer rewards and bonus opportunities that aren’t focused on the needs of frequent vacationers.
Like so many other products, choosing a credit card is all about finding the best offer for your needs. And for beginners in travel rewards and those who value straightforward rewards programs, the Capital One Venture Rewards could be that card. Once you understand how this card works, and who it’s best for, then you’ll quickly realize if it’s worth it to you.
*All information about the Capital One Savor Cash Rewards Credit Card has been collected independently by CreditCards.com and has not been reviewed or approved by the issuer.