Have you ever had trouble redeeming your airline miles? Capital One® Venture® Rewards Credit Card is one of a new breed of credit cards that reflects people’s frustration with traditional airline credit cards. Instead of offering frequent flyer miles with a single airline, it offers reward miles that can be redeemed for statement credits toward any travel purchase you make.
But the Capital One® Venture® Rewards Credit Card has recently built on that formula by offering a way to transfer your miles to 14 different airlines. After all, sometimes frequent flyer miles can be extremely valuable — like when you can redeem them for expensive tickets in business or first class. If you’re looking for a simple travel rewards credit card that also offers you this kind of flexibility, then you need to learn more about the Capital One® Venture® Rewards Credit Card.
We looked into this card program, and this is what we found.
What Is Capital One® Venture® Rewards Credit Card?
Capital One® Venture® Rewards Credit Card (not to be confused with the VentureOne card) is Capital One’s top-of-the-line travel rewards card, and Capital One continues to add new features and benefits to keep it competitive in a very crowded marketplace. Its most recent enhancements include credits toward Global Entry or TSA PreCheck applications, a partnership with Hotels.com, and the ability to transfer miles.
Capital One® Venture® Rewards Credit Card Features
|Annual Fee||$95, waived for first year|
|Sign-up Bonus||50,000 miles after spending $3,000 within three months of account opening|
|Rewards for Spending||2x miles on all purchases; 10x miles on bookings made through webpage hotels.com/venture (through January 2020)|
|Foreign Transaction Fees||None|
|Travel Benefits||Up-to a $100 statement credit toward Global Entry or TSA PreCheck application fee|
|Shopping Benefits||Extended warranty; premier access to culinary, sports and entertainment events|
|Mobile Wallet Compatibility||Apple Pay, Google Pay, Samsung Pay|
|Contactless Payment Compatibility||Yes|
|Customer Service||Phone: 24/7|
Who Is Capital One® Venture® Rewards Credit Card Good For?
Before Capital One® Venture® Rewards Credit Card added partnerships with 14 airlines, this credit card was best for people who really wanted to keep things simple and were interested in using their miles for travel expenses other than airfare (cruises, car rentals, hotels, etc.). However, now that you can count your miles toward airline programs, the card has a broader appeal. Throw in the fact that there are no foreign transaction fees, and it’s a good credit card for people who are simply interested in traveling.
How Does the Capital One® Venture® Rewards Credit Card Compare?
The closest comparison to a non-Capital One card is the Chase Sapphire Preferred Card. This credit card also charges a $95 annual fee. For the Sapphire Preferred Card, Chase has partnered with 13 travel partners, including favorites Southwest and Marriott.
When it comes to rewards, it may at first appear that Chase has a slight advantage. With the Chase card, there’s a 1:1 transfer ratio for its travel partners, versus 2:1 or 2:1.5 with the Capital One® Venture® Rewards Credit Card.
But since each dollar spent earns two miles with the Capital One® Venture® Rewards Credit Card, 2:1.5 is actually better than Chase’s program, and the 2:1 works out to the same per dollar spent. (Chase’s card earns two points per dollar only on travel and dining.) We’ve made a full comparison between the two here.
How to Earn Capital One® Venture® Rewards Credit Card Bonuses and Benefits
This card is currently offering new applicants 50,000 bonus miles after spending $3,000 on new purchases within three months of account opening. This is worth $500 in travel statement credits, or you can transfer your miles. You earn 2x miles per dollar spent on all purchases, with no limits. And through January 2020, you can earn 10x miles on reservations booked at hotels.com/venture.
Reward miles can be redeemed for 1¢ each as statement credit toward travel purchases such as airfare, hotels, car rentals, tours and cruises. Alternatively, you can transfer your miles to 14 different frequent flyer programs. Most transfers are 2:1.5 but two airlines are 2:1.
A valuable benefit is up-to a $100 statement credit toward the application fees for TSA PreCheck or Global Entry (which includes PreCheck). Other benefits include no foreign transaction fees on international purchases and extended warranty coverage.
How to Redeem Your Miles
As before, you can still use your Capital One® Venture® Rewards Credit Card to redeem miles toward travel expenses. However, now you can also convert those miles with 14 airline partner programs:
- Aeromexico Club Premier
- Air Canada Aeroplan
- Air France KLM Flying Blue
- Alitalia MilleMiglia
- Avianca LifeMiles
- Cathay Pacific Asia Miles
- Emirates Skywards
- Etihad Guest
- EVA Infinity MileageLands
- Finnair Plus
- Hainan Fortune Wings Club
- Qantas Frequent Flyer
- Qatar Airways Privilege Club
- Singapore Airlines KrisFlyer
Capital One® Venture® Rewards Credit Card Fees
There’s a $95 annual fee for this card that’s waived the first year. It also has a 3% balance transfer fee and a cash advance fee of $10 or 3%, whichever is greater. The late payment fee can be as high as $38. There’s no foreign transaction fee for this card.
Signing Up for Capital One® Venture® Rewards Credit Card
Capital One requires that applicants have excellent credit to be approved for the Capital One® Venture® Rewards Credit Card. You can apply for the Capital One® Venture® Rewards Credit Card online at capitalone.com or in response to an offer you receive in the mail. You can also sign up for this card at Capital One branch locations. Remember, you can receive a signup bonus of 50,000 miles after you spend $3,000 within three months of opening your account.
You can call a customer service agent anytime any day. Note that unlike some other credit card companies, Capital One does not provide live chat or messaging.
Capital One® Venture® Rewards Credit Card Mobile
Capital One offers a mobile app that’s available free at both the Apple App Store and Google Play Store. It’s compatible with fingerprint, and features include the ability to view statements and activate replacement or renewal cards. You can also view and redeem your miles and receive instant purchase notifications.
Other features include the ability to lock your card and to use CreditWise, Capital One’s free app that provides you with your credit score.
Capital One® Venture® Rewards Credit Card Pros and Cons
- Strong Welcome Bonus — Earn 50,000 points after spending $3,000 on new purchases within three months of account opening. This can be worth $500 in travel statement credits or even more when transferred to airline miles.
- Waived First-Year Annual Fee — You don’t pay the $95 annual fee until you renew your card.
- Receive Bonus Points — Earn 10x points per dollar spent at hotels.com/venture through January 2020.
- Transfer Rewards to Airline Miles — You can now transfer your Capital One miles to 14 different frequent flyer programs, which gives you the chance to receive more value than ever.
- Global Entry Fee Credit — Receive a $100 credit toward the application fee for Global Entry or TSA PreCheck, which will save you a lot of time when traveling.
- No Foreign Transaction Fees — Many cards still impose a 3% fee on all charges processed outside the United States.
- Annual Fee — The $95 annual fee is competitive for travel rewards cards like this, but some people still don’t like having a card with an annual fee.
- Miles Transfer Ratio — When you transfer your rewards to airline miles, you get a ratio of 2:1.5 with most airlines, and two have a ratio of 2:1. This ratio is less than the 1:1 ratio of similar credit card programs, but earning double miles on all purchases can make up for it.
- No Airline Perks — Credit cards that are co-branded with airlines will offer you benefits like free checked bags or priority boarding. Although you can transfer your Capital One miles to airline miles, you still don’t get these kinds of benefits.
This is a credit card for those looking for an alternative to traditional airline cards. By having two different ways to redeem rewards — statement credits or transfers to airline miles — the Capital One® Venture® Rewards Credit Card makes award travel easy. At the same time, it still offers you a generous signup bonus and valuable benefits such as 10x miles for hotel bookings and up-to a $100 credit toward Global Entry or TSA PreCheck.
But the heart of this card is the ability to earn double miles on all purchases. This means that your rewards can be worth 2% of your spending as travel statement credits or as much as 1.5 airline miles per dollar. In the extremely competitive world of travel reward credit cards, this offer is as good as any.