Capital One VentureOne Rewards Credit Card review

Capital One VentureOne Rewards Credit Card review

Updated: March 30, 2023

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Updated: March 30, 2023

Partner Offer: carefully review product terms on Capital One's site before applying

Clicking “See your approval odds” will authorize us to run a soft credit pull, which we’ll need to estimate your approval odds. Approval Odds serve as a guide to help you find the right credit card and will never affect your credit score.
Apply now

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 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.


  • No limits: There are no blackout, expiration dates or minimum miles requirements when you redeem you redeem for travel
  • Card comes with an intro APR offer on new purchases that can come in handy when planning big trips.
  • Transfer the miles you earn to both Capital One airline and hotel partners


  • Lack of options: None of the airline partners are major U.S. airlines, which can make it difficult to use points on domestic flights or more affordable international flights
  • Cardholders don’t earn boosted rewards back on airline purchases like they would with other no-annual-fee travel cards
  • Low rewards rate: You only earn 1.25% on purchases while flat-rate cards with good to excellent credit score requirements usually offer 1.5% to 2% cash back.

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 18 months (19.74% to 29.74% variable thereafter, with a 3% fee on the amounts transferred within the first 18 months) 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. Even when rewards cards carry intro APR offers, they tend to be shorter — often just 15 months long.

Terrific sign-up bonus for a no-annual-fee card

New VentureOne cardholders who spend at least $1,000 in the first three months can earn 40,000 miles – worth up to $400 in travel purchases through Capital One Travel.

This is an extremely generous offer for a card that carries no annual fee, especially considering the relatively low spending requirement. Nearly all competing no-annual-fee rewards cards offer bonuses worth closer to $200.

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.

Redemption optionMiles value (cents)
Travel purchase in Capital One Travel Center1
Outside travel purchases1
Gift card0.8 – 1
Statement credit0.5

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 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, 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 offers 3 points per dollar spent in everyday categories like restaurants, supermarkets and gas stations, as well as on air travel and hotels.

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 25% more when redeemed for travel through Chase Ultimate Rewards, for an average value of 1.25 cents per point. Considering the Sapphire Preferred earns 5 points per dollar on purchases made through the Chase Ultimate Rewards portal and 3 points per dollar at restaurants, on select streaming services and online grocery purchases, you could potentially earn more miles and more valuable with the Sapphire Preferred.

See RelatedHow 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, you might be better off choosing a different card. Here are a few popular alternatives:

Chase Freedom Unlimited
Capital One Venture Rewards Credit Card
Discover it Miles
Discover it® Miles
Bank of America Travel Rewards card
Bank of America® Travel Rewards credit card
Rewards rate

2 miles per dollar on all purchases

Rewards rate

1.5 miles per dollar on general purchases

Rewards rate

1.5 points per dollar on every purchase

Sign-up bonus

75,000 bonus miles when you spend $4,000 in the first 3 months

Sign-up bonus

Matches the miles you earned at the end of the first year

Sign-up bonus

25,000 online points if you spend $1,000 in first 90 days

Annual fee


Annual fee


Annual fee


Other things to know

  • Includes up to $100 credit for Global Entry/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)

Capital One VentureOne cardCapital One Venture card
1.25 miles per dollar x $12,667 = $158(2 miles per dollar x $12,667) – $95 annual fee = $158

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 $100) for a Global Entry or TSA PreCheck application every five years.

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 sign-up bonus that can be very lucrative for heavy spenders. It matches all the miles you earn in the first year, with no cap on how much you can earn. For a cardholder who spends $15,900 a year on purchases, you can earn 47,700 miles in the first year alone, worth $477.

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 $1,000 in the first three months to earn the 40,000-point 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.
  • 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. 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.

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

All reviews are prepared by staff. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including card rates and fees, presented in the review is accurate as of the date of the review. Check the data at the top of this page and the bank’s website for the most current information.

Responses to comments in the discussion section below are not provided, reviewed, approved, endorsed or commissioned by our financial partners. It is not our partner’s responsibility to ensure all posts or questions are answered.

Partner Offer: carefully review product terms on Capital One's site before applying

Clicking “See your approval odds” will authorize us to run a soft credit pull, which we’ll need to estimate your approval odds. Approval Odds serve as a guide to help you find the right credit card and will never affect your credit score.
Apply now