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At the bare minimum, a good travel credit card offers a rewards program, waived foreign transaction fees and complimentary travel protections, such as car rental or travel accident insurance. In fact, many credit cards today check all of these boxes. If you're looking to apply for a travel credit card, the options may seem overwhelming.
However, few credit cards can top what the Capital One Venture Rewards Credit Card has to offer. With a $95 annual fee, both amateur and seasoned travelers will find phenomenal value with this card. Offering an effortless way to earn and redeem miles, a top-notch sign-up bonus and other unexpected travel benefits, we explain our top five reasons why you should apply for the Capital One Venture Rewards Credit Card.
Capital One Venture Rewards Credit Card
17.24% - 24.49% (Variable)
- 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
1. Easy-to-earn, easy-to-redeem miles
For rewards maximizers who own multiple credit cards already, it can be hard to remember each card's rewards rate — especially when bonus categories are involved. Thankfully, the Capital One Venture Rewards Credit Card comes with an incredibly straightforward earnings rate: earn unlimited 2 Miles per dollar on every purchase, every day. And now through Jan. 31, 2021, earn 5X miles with Uber Eats.
The best part? Miles aren't just easy to earn — they're just as easy to redeem. The Capital One Venture Rewards Credit Card offers a unique travel purchase eraser feature. By purchasing any kind of travel on this card — from flights, hotels, tours, cruises and more — you can use your Capital One miles to pay yourself back for these purchases at a rate of 1 cent each. Unlike airline or hotel co-branded credit cards, you're not limited to one brand and can use your Capital One miles to reimburse a wide range of travel purchases.
Even though travel is limited during the pandemic, you can also redeem your miles for eligible takeout and streaming purchases at the same rate of 1 cent each until April 30, 2021. You have other options such as the ability to redeem your points on PayPal, Amazon or get cash back and gift cards. These alternative options have a much lower redemption rate, so it's best to save your Capital One miles for travel.
2. Impressive sign-up bonus for just a $95 annual fee
The Capital One Venture Rewards Credit Card offers an excellent sign-up bonus that will appeal to spenders with moderate expenses: 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. Competing travel rewards cards — namely the Chase Sapphire Preferred® Card and the Citi Premier® Card — offer a similar sign-up bonus, but require a higher spending threshold of $4,000. Other cards have much smaller welcome offers or require you to pay the annual fee before locking in the bonus.
|Chase Sapphire Preferred® Card||$95||Our best offer ever! Earn 100,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $1,250 when you redeem through Chase Ultimate Rewards®.|
|Citi Premier® Card||$95||Earn 80,000 bonus ThankYou® Points after you spend $4,000 in purchases within the first 3 months of account opening.|
|The Amex EveryDay® Preferred Credit Card from American Express||$95||Earn 15,000 bonus points after you use your new card to make $1,000 in purchases in your first 3 months from account opening.|
|World of Hyatt Credit Card||$95||Earn up to 60,000 Bonus Points - Earn 30,000 Bonus Points after you spend $3,000 on purchases in your first 3 months from account opening. Plus, up to 30,000 More Bonus Points by earning 2 Bonus Points total per $1 spent in the first 6 months from account opening on purchases that normally earn 1 Bonus Point, on up to $15,000 spent.|
|AAdvantage® Aviator® Red World Elite Mastercard®||$99||Earn 60,000 AAdvantage® bonus miles after making your first purchase and paying the $99 annual fee in full, both within the first 90 days.|
After weighing up comparable options together, it's clear that the Capital One Venture Rewards Credit Card has one of the best sign-up bonuses for a $95 annual fee card. Here's how many miles you can expect to earn:
$3,000 on purchases within first three months
|Capital One miles earned||60,000 miles from sign-up bonus, 6,000 miles from spending|
|Total miles||66,000 miles|
In the first year of card ownership, you would earn at least 66,000 Capital One miles, worth about $660 toward travel. This is a stellar deal, considering the annual fee is a reasonable $95 per year. This sign-up bonus covers at least six years worth of the sign-up bonus — not to mention that you'll continually earn more miles the more you spend.
3. Transfer your Capital One miles to 15+ airline and hotel partners
While using Capital One's purchase eraser feature is the easiest way to redeem your travel rewards, you can also transfer your miles to Capital One's 15+ airline and hotel transfer partners. Some of these loyalty programs include fan favorites such as Air France KLM - Flying Blue, Asia Miles and JetBlue TrueBlue. If you know your way around points and miles, you can score an excellent redemption by leveraging these partnerships in various airline alliances.
The transfer ratio varies by partner. Some allow 1:1 miles transfer, while others offer a 2:1.5 ratio. Points and miles experts owning other travel credit cards can pool these Capital One miles for the right redemption, such as international first-class tickets.
4. Free Global Entry or TSA Precheck application credit
Global Entry or TSA Precheck can save you lots of time in the airport, especially if you travel frequently. Preapproved travelers can bypass long waits with a designated security line. The application fees cost $100 and $85, respectively, but many people opt for Global Entry as it includes TSA Precheck as well.
While it isn't uncommon for your travel credit card to reimburse you for Global Entry or TSA Precheck, this perk doesn't typically come with mid-tier travel cards such as the Capital One Venture Rewards Credit Card. Instead, you can expect to see this benefit from travel credit cards with steep $550 annual fees — such as the Chase Sapphire Reserve® or The Platinum Card® from American Express.
For amateur travelers, Global Entry or TSA Precheck is a handy benefit. For experienced travelers, you can use this credit to reimburse a friend or family member's application fee — offering flexibility for those who already have Global Entry or TSA Precheck.
For rates and fees of The Platinum Card® from American Express, please click here.
5. Other benefits unique to Capital One
Finally, the Capital One Venture Rewards Credit Card is an all-around great travel credit card for its emphasis on experience. Before the pandemic, Capital One Experiences hosted a number of premium events exclusively for cardholders related to dining, entertainment, sports and more. Now, Capital One Experiences offers virtual events, such as its upcoming Michelin Guide Happy Hour at Home event, which delivers dinners and cocktails to you in select cities.
Additionally, Capital One Shopping helps cardholders save money on online shopping through its own browser extension. It automatically applies coupon codes at checkout, offering you features beyond the traditional scope of a travel credit card.
Who can qualify for the Capital One Venture Rewards Credit Card?
Prospective applicants scoping out their chances of qualifying for the Capital One Venture Rewards Credit Card should meet several criteria. To be eligible for the Capital One Venture Rewards Credit Card, you'll need to have excellent credit with a decent length of credit history. Capital One suggests that applicants should have had at least a loan or a credit card for three years or more, with a credit limit above $5,000. While this is merely a guideline, having excellent credit is essential to qualifying for a card like the Capital One Venture Rewards Credit Card.
Unlike major credit card issuer Chase — who will deny applicants that have opened more than five credit cards in 24 months — Capital One does not have any formal restrictions. It is rumored, however, that Capital One will deny applicants who have opened more than one credit card within six months. To up your general chances of approval, we suggest that you have at least a few years of credit history under your belt and that you haven't opened a new credit card recently.
When it comes to travel, flexibility is everything. If you don't want to limit yourself to one airline or hotel chain, the Capital One Venture Rewards Credit Card is a fantastic general travel rewards card to own. We particularly recommend the travel purchase eraser feature and transferring your points to other loyalty programs to gain the maximum value from your Capital One miles. With a simple rewards rate, you can earn double miles quickly on an infinite number of purchase categories.
The information related to The Amex EveryDay® Preferred Credit Card from American Express and AAdvantage® Aviator® Red World Elite Mastercard® has been independently collected by ValuePenguin and has not been reviewed or provided by the issuer of this card prior to publication. Terms apply to American Express credit card offers. See americanexpress.com for more information.