Reviews Capital One Venture Rewards credit card review

Capital One Venture Rewards credit card review

Published: October 18, 2017
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Rewards Rating:
4.4 rating
4.4 rating
4.4 / 5
Rewards Value: 4.1
Annual Percentage Rate: 2.8
Rewards Flexibility: 4.8
Features: 4.0

In a nutshell:

This is a flexible rewards card with a high rewards rate and valuable perks for frequent travelers.

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Rewards Rate
2:1 on general purchases

Sign-up Bonus
50,000 miles when you spend $3,000 within 3 months of approval

Annual Fee
$95, $0 in first year

Average Yearly Rewards Value ($1,325 monthly spend)
$421

APR
13.99-23.99% (variable)

Rewards Redemption
Pros

  • No blackout dates
  • No expiration dates
  • No limits on miles
  • Redeem any hotel or airline purchase for a statement credit
  • No minimum miles required to redeem for travel

Cons

  • No ability to transfer miles

Other Notable Features: No foreign transaction fees; Visa Signature benefits, including $250,000 of travel accident insurance, travel discounts and upgrades

Travel Rating:
4.2 rating
4.2 rating
4.2 / 5
Rewards Value: 3.8
Annual Percentage Rate: 2.4
Rewards Flexibility: 4.8
Features: 4.0

In a nutshell:

With a double rewards rate on purchases and a generous sign-up bonus, the Venture card from Capital One is a good value for heavy spenders.

Learn more about this card

Rewards Rate
2:1 on general purchases

Sign-up Bonus
50,000 miles when you spend $3,000 within 3 months of approval

Annual Fee
$95, $0 first year

Average Yearly Rewards Value ($1,325 monthly spend)
$421

APR
13.99-23.99% (variable)

Rewards Redemption
Pros

  • No blackout dates
  • No expiration dates
  • No limits on miles
  • Redeem any hotel or airline purchase for a statement credit
  • No minimum miles required to redeem for travel

Cons

  • No ability to transfer miles

Other Notable Features: No foreign transaction fees; Visa Signature benefits, including $250,000 of travel accident insurance, travel discounts and upgrades

Some cardholders enjoy scouring the fine print of their agreement for opportunities to squeeze some extra value out of their rewards points. Others don’t have the time. If you are a time-crunched cardholder who is loathe to navigate a maze of restrictions and blackout dates, the Capital One Venture Rewards credit card is the card for you. Capital One offers a simple, straightforward rewards program that strives to combine the best of all things: ease, flexibility and a good general rewards rate.

High rewards across the board
With two miles for every dollar of spending, the Venture Rewards card has one of the best general rewards rates on the market. The card also offers 50,000 miles on sign-up – one of the most generous bonuses available. The high return on travel rewards – 1 cent per mile on average – means you can get up to $500 in value for meeting the spending threshold within three months of approval.

Flexible redemption options
What really sets the Venture Rewards card apart is the flexibility of redemption. There are no expiration dates, limits on miles or blackout dates. Moreover, you can book airline and hotels on outside websites and redeem purchases for statement credits. This gives you the freedom to book travel whenever and however you please, regardless of brand, and even allows you to take advantage of outside promotions. As a unique feature, there’s no minimum for travel purchases. You can redeem a plane ticket for as little as a dollar’s worth of miles.

Designed primarily for frequent travelers
One of the downsides of the card is the poor rate of return on rewards categories outside of travel.  Cash back, in particular, offers a mere 0.5 cents per mile. The simplicity of the program can also be a drawback – with no rotating categories, and a straightforward value on miles, it’s difficult to extract extra value from your miles.

The card does come with a large array of travel perks. There is no foreign transaction fee, and the card includes Visa Signature benefits, such as travel insurance, discounts and upgrades. Combining all this with a high rewards rate and a high return on travel rewards, the Capital One Venture Rewards card is a valuable card for the frequent traveler.

Reasons to sign up for it:

  • You want a simple, straightforward rewards program with few restrictions
  • You charge a sufficient amount on your credit card (more than $3,000/year) to balance out the annual fee.
  • You’re a frequent traveler, particularly an international traveler, who will enjoy the substantial travel perks and the lack of a foreign transaction fee.
  • You prefer a wide variety of hotel and airline options and aren’t loyal to a specific brand.

How to use it:

  • Stick to redeeming your miles for travel rewards, which have the highest value. Other rewards categories have a much lower value. Cash back and gift cards are worth half as much as travel rewards.
  • You can redeem your travel purchases (including hotels and other types of travel expenses) for statement credit.
  • You can also get some extra value by using your miles for special travel deals within Capital One’s rewards website.

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