Capital One VentureOne Rewards Credit Card review

Capital One VentureOne Rewards Credit Card review

Updated: November 17, 2022

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

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Updated: November 17, 2022

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

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Ratings Policy
Low Interest Rating:
3.3 rating
3.3 rating
3.3 / 5
Rates, Fees, Penalties:2.6
Rewards:2.9
Features:4.0
Issuer Customer Experience4.0

In a Nutshell:

The interest rate is reasonable – although not great – but the array of other features make the VentureOne Rewards Card worthy of consideration.

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Regular APR

17.99% - 27.99% (Variable)
Fair

Introductory Purchase APR
0% for 15 months

Very Good

Introductory Balance Transfer APR
0% for 15 months

Very Good

Fees

  • No annual fee
  • 3% balance transfer fee
  • No foreign transaction fee
  • 3% or $10 cash advance fee (whichever is higher)
Excellent

Penalties

  • Up to $40 late payment fee
  • No penalty APR
  • No returned payment fee
Excellent

Capital One Customer Service Ratings

  • J. D. Power 2020 customer satisfaction rating: 808 (40% of issuers in this category ranked higher)
  • 24/7 customer service?: Yes
  • Online chat available?: Yes
  • Google Play Store mobile app rating: 4.8/5
  • Apple Store mobile app rating: 4.7/5
Very Good

Other Notable Features: Fraud coverage, Emergency card services, No foreign transaction fees, *Travel assistance services, Apple Pay, *Auto rental insurance, Extended warranty*

*Benefit available to accounts approved for the World Elite Mastercard product, subject to terms, conditions, and exclusions in the World Elite Mastercard Guide to Benefits. See Account Terms or Application Terms for more details

Rewards Rating:
4.5 rating
4.5 rating
4.5 / 5
Rewards Value:3.3
Annual Percentage Rate:4.0
Rewards Flexibility:5.0
Features:4.0
Issuer Customer Experience4.0

In a Nutshell:

The VentureOne card from Capital One is a good pick for cardholders who want rewards-funded travel, but don’t want to deal with blackout dates or complicated rewards schemes: In lieu of complicated bonuses, the card awards 1.25 miles on every purchase and it allows you to book your rewards-funded travel yourself from any website or travel agent you choose.

Learn more about this card

Rewards Rate

  • 5 miles per dollar on hotels and rental cars booked through Capital One Travel
  • 1.25 miles per dollar on every purchase, every day
Fair

Sign-up Bonus
20,000 miles if you spend $500 in first 3 months

Average

Annual Bonus
None

Poor

Annual Fee
$0

Excellent

Average Yearly Rewards Value ($1,325 monthly spend)
$293

Average

APR

17.99% - 27.99% (Variable)
Very Good

Rewards Redemption
Pros

  • No blackout dates
  • No expiration dates
  • No mile limits
  • Redeem any hotel or airline purchase for a statement credit
  • No minimum miles required to redeem for travel
  • Transfer miles to over 15+ travel loyalty programs

Cons

  • List of airline partners currently doesn’t include any large U.S. airlines
Excellent

Capital One Customer Service Ratings

  • J. D. Power 2020 customer satisfaction rating: 808 (40% of issuers in this category ranked higher)
  • 24/7 customer service?: Yes
  • Online chat available?: Yes
  • Google Play Store mobile app rating: 4.8/5
  • Apple Store mobile app rating: 4.7/5
Very Good

Other Notable Features: Fraud coverage, Emergency card services, No foreign transaction fees, *Travel assistance services, Apple Pay, *Auto rental insurance, Extended warranty*

*Benefit available to accounts approved for the World Elite Mastercard product, subject to terms, conditions, and exclusions in the World Elite Mastercard Guide to Benefits. See Account Terms or Application Terms for more details

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 great 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, and while the VentureOne charges no annual fee and gives you extra flexibility by allowing you to redeem miles for third-party travel bookings as well as through the Capital One travel portal without sacrificing mile value, 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 (17.99% to 27.99% variable thereafter, with a 3% fee on the amounts transferred within the first 15 months) will be a big plus. Or if you have a 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 longer intro APR periods but no ongoing rewards – but it’s also quite rare to see such offers on travel rewards cards.

Newly adjusted sign-up bonus

Capital One recently updated the VentureOne card sign-up bonus to require a lower minimum spend, making it a bit more attainable. 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.

For a card with no annual fee, this is a pretty generous offer, especially considering the reduced spending requirement. The card’s previous bonus was also for 20,000 miles, but it required a $1,000 spend in the first three months.

To secure the current bonus, you only need to spend around $167 per month for the first three months, which should be an easy threshold for most cardholders to meet, especially considering you won’t have to worry about tracking spending categories.

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 – as you’ll find with some premium travel cards like the Chase Sapphire Preferred Card or the Chase Sapphire Reserve 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 whatever offers are provided in an issuer’s portal.

Unfortunately, non-travel redemptions don’t eke 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
Check0.5

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

See Related: Best ways to use Capital One miles

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 twenty-four (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.

*Benefit available to accounts approved for the World Elite Mastercard product, subject to terms, conditions, and exclusions in the World Elite Mastercard Guide to Benefits. See Account Terms or Application Terms for more details

Why another card might be a better fit

If you plan to spend heavily with the VentureOne, you might consider another card that has a more rewarding rewards 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 to take advantage of. This is definitely the case if you’re a responsible spender. If you’ve worked your way up to a high credit score, you might want to look at cards that are more rewarding.

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, the exclusion of 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, especially if we assume you redeem for travel at a rate of 1 cent per mile.

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 be able to 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. This is another drawback to the card, as 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 on 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

$95

Annual fee

$0

Annual fee

$0

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
  • Lengthy intro APR on new purchases and balance transfers
  • 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, even more moderate spenders can get enough extra value out of 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.

See Related: Capital One Venture Rewards Credit Card vs. Capital One VentureOne Rewards Credit Card

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

  • If you want to get the most value out of your 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 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. Other redemption options, like statement credits and gift cards will be a waste of points, as you’ll lose as much as 50% of their value.
  • Consider transferring your points to one of the issuer’s travel partners to potentially boost your rewards value even further (though the list of partners is limited).
  • Be sure to also take advantage of the card’s (admittedly limited) perks. For example, use the card abroad to avoid a foreign transaction fee.

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 actually earn enough more in rewards to offset its $95 annual fee.

All reviews are prepared by CreditCards.com 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.

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

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