Capital One Venture Rewards Credit Card Review

Capital One Venture Rewards Credit Card Review

The Capital One Venture Rewards Credit Card is worth it if you're searching for an affordable travel rewards card with widespread benefits and a low annual fee.

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Good for

  • Attainable sign-up bonus
  • Easy-to-earn miles
  • Global Entry or TSA Precheck credit
  • True flexibility with miles

Bad for

  • Mediocre transfer ratio to loyalty partners
  • No bonus earning categories
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The Capital One Venture Rewards Credit Card is a considerable step-up from the Capital One no-annual-fee VentureOne Rewards Credit Card, offering more earning potential and a higher introductory bonus.

Along with unlimited mileage accrual at a generous two miles per dollar spent, you can earn a prolific sign-up bonus: Enjoy a one-time bonus of 60,000 miles once you spend $3,000 on purchases within 3 months from account opening, equal to $600 in travel. In addition, you’ll enjoy a suite of features designed to help you save money on both travel-related expenses and everyday purchases. You can use your miles on a wide variety of redemptions at a rate of 1 cent per mile — the industry standard.

Capital One Venture Rewards Credit Card

On Capital One's Secure Website

$95

15.99% - 23.99% (Variable)

Excellent/Good

  • Enjoy a one-time bonus of 60,000 miles once you spend $3,000 on purchases within 3 months from account opening, equal to $600 in travel
  • Earn unlimited 2X miles on every purchase, every day
  • Miles won't expire for the life of the account and there's no limit to how many you can earn
  • Receive up to $100 application fee credit for Global Entry or TSA Pre✓®
  • Redeem on travel—including flights, vacation rentals, car rentals and more. Plus transfer your miles to over 15+ travel loyalty programs
  • No foreign transaction fees

Capital One Venture Rewards Credit Card review: An affordable but valuable travel card

When choosing a travel rewards credit card, it’s all about weighing the costs and benefits. And when it comes to a mid-tier rewards option — one that does carry an annual fee, but not a particularly outrageous one — the Capital One Venture Rewards Credit Card has a lot to offer.

Most notably, you’ll earn unlimited 2 Miles per dollar on every purchase, every day, as well as up to a $100 credit for Global Entry or TSA PreCheck. Miles are easy to redeem for most travel-related expenses and can also be redeemed for account credits and gift cards.

Along with its travel incentives, the Capital One Venture Rewards Credit Card also offers a standard suite of security features, including a few geared toward cardholders on the go. For instance, you’ll have 24/7 access to Travel Assistance Services, which can get you an emergency card replacement and cash advance in the event your card is lost or stolen, as well as travel accident insurance and an auto rental collision damage waiver.

Here are more of our favorite features of the Capital One Venture Rewards Credit Card.

Easy-to-earn, easy-to-spend miles

While there are countless travel rewards credit cards on the market, not all of them offer cardholders the opportunity to earn miles on every single purchase — especially not at a rate of 2X per dollar. If you’re not interested in keeping track of bonus categories, you’ll enjoy the sheer simplicity of the Capital One Venture Rewards Credit Card.

Redemption option
Mile value (in cents)
Cover select purchases1
Redeem with PayPal0.8
Shop with Amazon0.8
Get gift cards0.8-1
Redeem for cash back0.5
Transfer your rewards to travel loyalty programsDepends on the transfer partner and ratio
Book a trip through Capital One travel1 cent
Transfer your rewards to another Capital One account1 cent

Capital One miles are some of the most flexible rewards out there, with eight different redemption options available. Since we value Capital One miles at a rate of 1 cent for travel redemptions and 0.5 cents for cash back, you’ll want to reserve your miles for scenarios where you’ll receive the most value.

Redeeming your miles for travel works in two ways: You can cover your travel purchases at 1 cent per mile, or you can transfer your miles to Capital One’s 14 partner programs at varying ratios. We’ll explain Capital One’s transfer partners in the next section, but the first of these options allows you to book travel as usual and redeem your miles to effectively erase the purchase. You must use this purchase eraser feature within 90 days of the date your travel-related purchase posts to your account. Leveraging this redemption option allows you to book with any airline, hotel or travel company you want, with the simple ability to erase the purchase using your miles.

Until April 30, 2021, you can redeem your miles for eligible takeout and streaming purchases at the same rate of 1 cent each. As the pandemic has restricted most travel, Capital One has expanded these opportunities to use your miles.

To recap:

  • 2 Miles per dollar on every purchase, every day
  • Redeem miles through Capital One’s Reward Center or via your favorite website or agent — you aren’t limited to a single airline or hotel franchise

Capital One’s 15+ transfer partners

If you’re a rewards maximizer and want to gain the most value from your Capital One miles, consider transferring your rewards to any following transfer partners. These transfer ratios will vary depending on the program; however, many transfer at a 2:1.5 rate. In this case, 1,000 Capital One miles equate to 750 miles in the loyalty program of your choice.

  • Accor Live Limitless (2:1)
  • Aeromexico Club Premier (1:1)
  • Air Canada Aeroplan (2:1.5)
  • Air France/KLM Flying Blue (2:1.5)
  • Alitalia MilleMiglia (2:1.5)
  • Avianca Lifemiles (1:1)
  • British Airways Avios (2:1.5)
  • Cathay Pacific Asia Miles (1:1)
  • Choice Privileges (1:1) Available later in 2021
  • Emirates Skywards (2:1)
  • Etihad Airways Guest (1:1)
  • Eva Air Infiinity MileageLands (2:1.5)
  • Finnair Plus (1:1)
  • JetBlue TrueBlue (2:1.5)
  • Qantas Frequent Flyer (1:1)
  • Singapore Airlines KrisFlyer (2:1)
  • TAP Air Portugal Miles&Go (1:1)
  • Turkish Airlines Miles&Smiles (2:1.5)
  • Wyndham Rewards (1:1)

While other card issuers such as American Express, Chase and Citi offer bigger partners and more partners with 1:1 transfer ratios, you shouldn’t dismiss Capital One’s transfer ability. With a comprehensive portfolio of domestic and international airlines, you could score some amazing deals with any of the following programs. Transferring your miles might be worth the trouble if you find a mileage redemption that you can’t pass up.

At the end of the day, points and miles experts would be able to maximize Capital One’s transfer partners, making this $95 annual fee travel card worth owning. Meanwhile, amateur travelers could use the purchase eraser feature to erase any travel-related charges with ease.

Up to a $100 Global Entry or TSA Precheck credit — a perk offered only on luxury travel cards

Arguably one of the best perks of the Capital One Venture Rewards Credit Card is its up to $100 credit — reimbursing application fees for either Global Entry or TSA Precheck. This is a standout benefit of the card, as it’s a perk traditionally offered by luxury travel cards with much higher annual fees.

This $100 credit alone makes up for the $95 annual fee — at least for the first year. On top of the other benefits and features that come with this card, the Capital One Venture Rewards Credit Card could provide value year after year.

Generous and achievable sign-up bonus

If a hefty sign-up bonus is important to you, the Capital One Venture Rewards Credit Card offers a competitive deal: Enjoy a one-time bonus of 60,000 miles once you spend $3,000 on purchases within 3 months from account opening, equal to $600 in travel.

Compared to similar offers, the first sign-up bonus is fairly easy to attain — you’ll only have to spend $3,000 on purchases within the first three months (rather than $4,000).

Exclusive access and security

Earning miles is all well and good, but the real strength of a travel-focused credit card is in its travel-related security and savings features. The Capital One Venture Rewards Credit Card offers basics — such as no foreign transaction fees — as well as peace-of-mind extras like travel accident insurance and rental car insurance.

You’ll also benefit from a suite of security features that aren’t necessarily related to travel, such as $0 fraud liability, mobile card lock capability and real-time notifications about suspicious activity.

Thoughtful travel and shopping features

Of course, these types of features aren’t rare in today’s travel rewards credit card market — but Capital One also includes some unique shopping benefits we haven’t seen in many other places, specifically geared toward saving you money. For example, Capital One Shopping is a free browser extension that automatically applies the best coupon codes at checkout.

Thoughtful travel and shopping features

As a travel rewards credit card shopper, chances are you’re also often looking for adventure. If you need some additional options, Capital One has your back. Through Capital One Experiences, cardholders will gain access to a wide variety of exclusive experiences, including chef-curated dining opportunities, live entertainment with VIP perks and members-only lounges, discounts on major sporting events and more.

While other cards with similar programs have paused their offerings during the pandemic, Capital One Experiences is committed to its premium events. For instance, Capital One Experiences is hosting a Michelin Guide Happy Hour at Home event, delivering dinners and cocktails in select cities with a virtual happy hour reception and playlist to match. Only accessible to cardholders, Capital One Experiences could be a great way to enjoy some exclusive events — even in the comfort of your own home.

Alternatives to the Capital One Venture Rewards Credit Card

While the Capital One Venture Rewards Credit Card strikes a good balance between annual fee and available rewards, there are other competitive rewards credit cards on the market that may better suit your needs.

Chase Sapphire Preferred® Card

On Chase's Secure Website

The Chase Sapphire Preferred® Card is another well-known travel rewards card that’s often compared to the Capital One Venture Rewards Credit Card. Also carrying a $95 annual fee, its miles-earning potential is concentrated on specific categories instead. You can earn 5X points on travel purchased through Chase Ultimate Rewards®, 3X points on dining and 2X points on all other travel purchases.

While the Capital One Venture Rewards Credit Card has a better rewards rate overall, you’ll receive 25% more value when you book travel through Chase Ultimate Rewards — which could make up the difference for the Chase Sapphire Preferred® Card. This card also wins in terms of loyalty partners — at a 1:1 ratio, your points transfer at a higher rate.

Both cards are top-notch offers for a $95 price tag, so you’ll want to consider extraneous benefits. If you need Global Entry or TSA Precheck credit, you could opt for the Capital One Venture Rewards Credit Card. If you’re looking to maximize your points and earn the best travel redemption potential, the Chase Sapphire Preferred® Card might win out.

Citi Premier® Card

The Citi Premier® Card is another $95-annual-fee travel rewards card worth considering. You’ll earn points through the Citi ThankYou program, with elevated bonuses for specific categories: Earn 3X points per $1 spent at restaurants, supermarkets, gas stations, air travel and hotels and 1X per $1 spent on all other purchases. The Citi Premier® Card offers a better rewards rate on everyday and travel purchases, though it will require more effort to keep up with these categories.

Rather than offering a $100 statement credit for Global Entry or TSA Precheck, you’ll receive an annual $100 hotel credit off a single hotel stay of $500 or more (excluding taxes or fees) when booking through ThankYou.com. Since this is a recurring credit every year, this will automatically offset the $95 annual fee. Finally, the Citi Premier® Card also transfers to 16 partner programs, with most at a 1:1 ratio.

To decide which card is better for you, compare each card’s features with your travel habits. Citi tends to have many more international airline partners, while Capital One excels with its purchase eraser feature. The best card may boil down to whether a hotel credit or a Global Entry/TSA Precheck is more beneficial for you.

Capital One VentureOne Rewards Credit Card

On Capital One's Secure Website

The annual fee-free version of Capital One’s travel rewards line is the Capital One VentureOne Rewards Credit Card. Offering many of the same perks as the Capital One Venture Rewards Credit Card, but at a lower cost, this card may be a better fit if you’re looking to forgo an annual fee.

You’ll earn unlimited 1.25 Miles per dollar on every purchase, every day, which is still a pretty good deal for a card with a $0 annual fee. If you’re someone who only travels once in a while but wants to lower your travel-related expenses by using miles, the Capital One VentureOne Rewards Credit Card could be a perfect fit.

Interested in other types of rewards credit cards? Read Best Rewards Credit Cards for Savvy Cardholders.

ValuePenguin's verdict

While there are certainly more lucrative travel rewards cards on the market, many carry high annual fees. These cards are harder to justify for those who travel from time-to-time, but not excessively. The Capital One Venture Rewards Credit Card offers a solid cost-to-benefit ratio for leisure and expert travelers, especially since it allows users to accrue miles on everyday purchases at the same rate. From earning miles to redeeming miles, the card offers a simplistic approach to travel rewards, making it a potential top choice for many.

These responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.

Advertiser Disclosure: The products that appear on this site may be from companies from which ValuePenguin receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). ValuePenguin does not include all financial institutions or all products offered available in the marketplace.

How We Calculate Rewards: ValuePenguin calculates the value of rewards by estimating the dollar value of any points, miles or bonuses earned using the card less any associated annual fees. These estimates here are ValuePenguin's alone, not those of the card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer.

Example of how we calculate the rewards rates: When redeemed for travel through Ultimate Rewards, Chase Sapphire Preferred points are worth $0.0125 each. The card awards 2 points on travel and dining and 1 point on everything else. Therefore, we say the card has a 2.5% rewards rate on dining and travel (2 x $0.0125) and a 1.25% rewards rate on everything else (1 x $0.0125).

On Capital One's Secure Website

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