Capital One VentureOne Rewards Credit Card review

If you’re an occasional traveler looking to rack up some miles to use toward your next trip – but can’t justify paying the high annual fee that comes with many travel cards – the VentureOne Rewards Card from Capital One can be a smart choice. The card offers a good flat rewards rate on all purchases along with an intro APR offer on new purchases and balance transfers – a rare extra for a travel rewards card.

That said, the card’s flat rewards rate is on the low end. While the VentureOne charges no annual fee (See rates and Fees) and gives you extra flexibility by allowing you to redeem miles for third-party travel bookings and the Capital One travel portal, other travel cards – even those with high annual fees – can be much more rewarding if used strategically.

Why you might want the Capital One VentureOne Rewards Credit Card

If you want a simple travel rewards card with a flat rewards rate and the flexibility to redeem rewards for bookings on third-party sites, the VentureOne card can be a great fit for you. It’ll also make sense for cardholders who want to avoid annual fees and take advantage of an introductory APR on new purchases and balance transfers.

0% intro APR on new purchases and balance transfers

If you have a big trip or other large expenses to finance and want some time to pay down your balance while avoiding interest, this card’s 0% intro APR on new purchases for 15 months (19.24% - 29.24% (Variable) thereafter; for balance transfers, 3% for the first 15 months or at a promotional APR that Capital One may offer you at any other time. No fee for amounts transferred at the Transfer APR) will be a big plus. Or if you have outstanding debt and need a little more than a year to pay it off, you can take advantage of its matching balance transfer offer to chip away at your principal and fast-track your repayment efforts.

Not only can this make the card a more attractive option than many dedicated balance transfer cards – which tend to offer long intro APR periods but no ongoing rewards – but it’s also rare to see such offers on travel rewards cards. Intro APR offers tend to pop up more frequently on cash back cards than travel cards.

Low spending required to earn sign-up bonus

New VentureOne cardholders who spend at least $500 in the first three months can earn 20,000 miles – worth up to $200 in travel purchases through Capital One Travel.

This is a solid offer for a card that carries no annual fee, especially considering the relatively low spending requirement. Several competing no-annual-fee rewards cards require you to spend $1,000 or more to earn $200 in bonus value.

Flexible rewards redemption

Travel cards are typically most rewarding for cardholders who use loyalty systems that call for redeeming points or miles through the issuer’s portal. You could potentially stretch your rewards further this way, like through the Chase Ultimate Portal with the Chase Sapphire Preferred® Card or the Chase Sapphire Reserve® card.

Although the Capital One VentureOne card doesn’t offer cardholders extra value for redeeming through Capital One Travel – like with premium travel cards like the Chase Sapphire Preferred Card – it offers extra flexibility and convenience by allowing you to redeem your miles for travel purchases made directly with airlines and hotels or with third-party travel sites. This gives you the opportunity to shop around for the best deal and spend your miles wisely instead of having to opt for offers in an issuer’s portal.

Unfortunately, non-travel redemptions don’t have quite as much value out of your miles. If you opt for a gift card, statement credit or check, miles are worth much less.

To ensure you are getting good value out of your miles, stick to travel redemptions.

You can also transfer miles to many Capital One travel partners at a 1:1 rate. Since many airline miles are worth more than 1 cent per mile, this may help you stretch your rewards even further.

Other benefits

The VentureOne card also comes with a few additional perks that can save cardholders money while shopping or traveling, including:

• No foreign transaction fee – When traveling abroad, you won’t be charged a surcharge on foreign transactions.
• Auto rental insurance – For car rentals booked and paid with the VentureOne, you’ll get coverage against physical damage and theft.
• Extended Warranty – Doubles the original manufacturer’s warranty, up to a maximum of 24 months, for eligible items purchased with your card.
• Fraud Coverage – $0 Fraud Liability for unauthorized charges if your card is ever lost or stolen.
• Travel Assistance Services – Available 24/7 with local emergency and assistance resources.

To make the most of these benefits, you should put all major purchases on the VentureOne card.

Why another card might be a better fit

If you plan to spend heavily with the VentureOne, you might consider another card with a more rewarding cash back rate, even if that means putting up an annual fee. And while having the option to redeem miles for outside travel purchases is a welcome option, other issuers like Chase may offer a higher rewards value than 1 cent per point if you redeem through their portal.

The VentureOne is also limited by a good to excellent credit score requirement. This isn’t a deal breaker, but if you have great credit, there are certainly better cards available to you, especially if you’re a responsible spender. If you’ve worked your way up to a high credit score, you might want to look at more rewarding cards.

Rewards rate doesn’t stack up

Earning miles with the VentureOne card is very straightforward. Cardholders earn 5 miles per dollar on hotels and rental cars booked through Capital One Travel and 1.25 miles per dollar on every purchase, in contrast to the many travel cards that only offer more than 1 point per dollar in certain categories.

Although 5 miles per dollar on hotels and rental cars booked through Capital One Travel may sound like a lot, excluding airline bookings – often the most expensive part of traveling – is disappointing. Considering you can find plenty of cards that offer 1.5%  or 2% cash back (which you could then use to book travel) while charging no annual fee (See rates and Fees), the VentureOne card’s flat 1.25-mile-per-dollar rewards rate isn’t very impressive.

Even some flat-rate, no-annual-fee travel cards – like the Discover it® Miles – offer 1.5 miles per dollar on all purchases. Plus, if you opt for a travel credit card that offers bonus points or miles in a few specific spending categories, you might earn more than 1.25 miles per dollar by spending strategically. For instance, the Citi Premier® Card  (The Citi Premier Card is no longer available) offers 3X points per dollar spent in everyday categories like restaurants, supermarkets and gas stations, as well as on air travel and hotels. Plus, for a limited time, earn a total of 10X points per dollar spent on hotel, car rentals, and attractions (excluding air travel) booked on the Citi Travel portal through June 30, 2024.

VentureOne miles aren’t worth much

When you redeem miles earned on your VentureOne card for travel purchases, they are worth 1 cent per mile. Another drawback to the card is that some travel credit cards offer higher point values when redeemed through the issuer’s travel portal.

For example, points earned on the Chase Sapphire Preferred Card are worth more when redeemed for travel through Chase Travel℠. Considering the Sapphire Preferred earns 5 points per dollar on purchases made through the Chase Travel℠ portal and 3 points per dollar at restaurants, on select streaming services and online grocery purchases, you could potentially earn more rewards and more value with the Sapphire Preferred.

See Related: How much are Capital One miles worth?

When you combine a limited mile value with the fact that the earning rate on the VentureOne falls below that of some flat-rate cards, it limits the VentureOne’s appeal. Choosing a travel card that offers a higher flat rate on all purchases or springing for a card with better bonus categories and an annual fee might be a better option.

How the Capital One VentureOne Card compares to other travel rewards Cards

Since the VentureOne card doesn’t offer the best flat earning rate among travel cards with no annual fee (See rates and Fees), you might be better off choosing a different card. Here are a few popular alternatives:

Capital One Venture Rewards Credit Card	Discover it® Miles	Bank of America® Travel Rewards credit card
Rewards rate 5 Miles per dollar on hotels, vacation rentals and rental cars booked through Capital One Travel 2 Miles per dollar on every purchase, every day	Rewards rate Automatically earn unlimited 1.5x Miles on every dollar of every purchase.	Rewards rate Earn 3 points per $1 spent on travel purchases booked through the Bank of America Travel Center. Earn unlimited 1.5 points per $1 spent on all purchases, with no annual fee and no foreign transaction fees and your points don't expire as long as your account remains open.
Sign-up bonus Earn 75,000 miles once you spend $4,000 on purchases within the first 3 months of account opening	Welcome bonus Unlimited Bonus: Unlimited Mile-for-Mile match for all new cardmembers—only from Discover. Discover gives you an unlimited match of all the Miles you’ve earned at the end of your first year. There’s no signing up, no minimum spending or maximum rewards. Just a Miles-for-Miles match. You could turn 35,000 Miles to 70,000 Miles.	Sign-up bonus 25,000 online bonus points after you make at least $1,000 in purchases in the first 90 days of account opening - that can be a $250 statement credit toward travel purchases.
Annual fee $95 (See rates and Fees)	Annual fee $0	Annual fee $0
Other things to know Receive up to a $120 credit for Global Entry or TSA PreCheck® Over 15+ travel transfer partners, including Avianca and Aeromexico 1 cent per mile value for travel redemptions	Other things to know No transfer partners Rewards can be redeemed even when an account has been closed or is inactive Highly-rated customer service	Other things to know Redeem points for dining or travel purchases, including those on third-party booking sites Poor redemption value for cash back Higher rewards rate for Bank of America Preferred Rewards® account holders

Capital One VentureOne vs. Capital One Venture

Compared to the VentureOne, the Venture card comes with a higher earning rate, sign-up bonus and more travel perks, but you’ll have to pay a $95 annual fee. By our estimates, however, more moderate spenders can get enough extra value from the Venture card’s higher rewards rate (2 miles per dollar on general purchases) to make up for the $95 annual fee. For example, cardholders who spend at least $12,667 per year on their card ($1,056 per month) can earn enough with the Venture to offset its fee and earn the same rewards as the VentureOne.

Rewards value for $12,667 annual spend ($1,056 per month)

For spend levels above that threshold, the Venture card outpaces the VentureOne. Plus, it comes with extra perks that add value – such as a statement credit (up to $120) for a Global Entry or TSA PreCheck application.

Capital One VentureOne vs. Discover it® Miles

The Discover it® Miles card offers a flat rate of miles on every purchase, making it a great option for cardholders who prefer to put all of their spending on a single card. Plus, its 1.5-mile-per-dollar rate easily outpaces the VentureOne card’s 1.25 miles per dollar.

The Discover it® Miles card also comes with a unique welcome bonus that can be very lucrative for heavy spenders. It matches all the miles you earn at the end of your first year, with no cap on how much you can earn.

Capital One VentureOne vs. Bank of America Travel Rewards credit card

Like the Discover it® Miles, the Bank of America Travel Rewards credit card offers a flat 1.5 points per dollar on all purchases, outpacing the earning rate of the VentureOne. In addition, Bank of America or Merrill account holders can boost their rewards rate even further. All eligible account holders with a significant balance in the Preferred Rewards program can earn 25%–75% more on every purchase. Depending on your tier in the program, you could earn up to 2.62 points per dollar – an outstanding rate for a card with no annual fee.

How to use the VentureOne card

• Use the card to pay for most (if not all) of your purchases. You’ll also want to make sure you spend at least $500 in the first three months to earn the 20,000-mile welcome bonus.
• Redeem your miles for travel purchases. You can redeem through the Capital One travel portal or for outside travel purchases and enjoy the same 1-cent-per-point value.
• Consider transferring your points to one of the issuer’s travel partners to boost your rewards value even further.
• Use the card abroad to avoid foreign transaction fees (See rates and Fees).
• Be sure to also take advantage of the card’s (admittedly limited) perks.

Is the VentureOne card right for you?

The VentureOne card offers some decent travel perks and a good flat rate of miles on general purchases, but it doesn’t have the highest earning rate – even among cards with no annual fee (See rates and Fees). You’ll likely be better off opting for a higher flat-rate travel card or one that features bonus rewards in spending categories that match your lifestyle.

Additionally, if you spend at least $12,667 a year, the Capital One Venture Rewards credit card can earn enough in rewards to offset its $95 annual fee (See rates and Fees).

For Capital One products listed on this page, some of the benefits may be provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply.