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If you’re looking for a flat-rate travel rewards credit card or you’ve been convinced by the tv commercials, the Capital One Venture Credit Card might be a good fit for you. Click here to see application details. With a reasonable annual fee and a competitive rewards rate, there is a lot to like about the Capital One Venture Credit Card. But, is it the best travel credit card for you?
Apply For the Capital One Venture Credit Card: See more information here.
Earn 50,000 Bonus Miles with Capital One Venture
New Capital One Venture cardholders will earn 50,000 bonus miles after spending $3,000 in the first three months. This bonus offer is worth $500 in award travel. This is a competitive and achievable sign-up bonus. It’s not as valuable as the Sapphire Preferred at $625 in bonus travel rewards, but, Chase also requires you to spend $4,000 in the same time period to qualify.
It doesn’t appear that this bonus is available to previous Capital One Venture customers as the terms and conditions state, “The bonus may not be available for existing or previous accountholders.” If you have earned a Capital One Venture bonus in the past, I wouldn’t plan on receiving it a second time.
Link: Apply Here
Earn Double Miles on Every Purchase
Do you like the thought of earning two miles for every $1 spent, regardless of the purchase type? Having a flat-rate reward miles program makes it easy to know how many miles you will earn with each person. It’s the same amount every time. A 2% flat rewards rate is pretty good as most flexible travel rewards cards in this annual fee range either have a similar double miles flat-rate payout or offer double miles on the travel and dining.
Honestly, the double miles on every purchase is probably the best reason to own the Capital One Venture Credit Card. Very few cards offer bonus miles for everyday spending. This helps casual travelers quickly earn miles to pay for their occasional trip.
Miles Can Be Redeemed for Travel Statement Credits
Redeeming your Venture miles is easy. But, other flexible travel credit cards have more valuable redemption options if you are willing to make some tradeoffs in terms of smaller purchase rewards.
With the Capital One Venture, each mile is worth 1 cent each (10,000 miles=$100) and can be redeemed for travel statement credits to reimburse the cost of your travel purchases. This is the standard redemption rate for most travel credit cards. Note that it’s two primary card competitors have a higher redemption rate.
Why Other Redemption Programs Can Be Better
If you also want to have the option of transferring your miles to other airline and hotel loyalty programs including United, Southwest Airlines, British Airways Avios, Hyatt, or Marriott on a 1:1 basis, you might also consider the Chase Sapphire Preferred. You might only earn double miles on travel and dining, but your miles are worth 1.25 cents each when redeemed through Chase for award travel if you decide not to transfer them to an airline or hotel travel partner.
Additional Capital One Venture Credit Card Benefits
The Capital One Venture Credit Card is a Visa Signature product and comes with the standard Visa Signature benefits which include:
- Secondary rental car collision damage coverage
- Complimentary upgrades and savings at select hotels, airlines, and rental car agencies
- 24/7 Visa Concierge Service
- Shopping discount at select in-store and online merchants
- Automatic extended warranty for items purchased with your Venture card
Of course, all of these benefits are in addition to the fact that all new Venture cards are made of metal. In the ultra-competitive credit card arena, the high-end cards are now being made out of metal. They still work the same as the classic plastic credit cards you still might carry, but, this metal card can be a great way to turn some heads your way.
Is The Capital One Venture Credit Card Worth $95 A Year?
Like similar travel credit cards, the Capital One Venture Credit Card has a $95 annual fee (waived for the first year). Capital One Venture waives the fee for the first year and you will never pay a foreign transaction fee. Plus, there’s no additional fee for adding an authorized user.
Is the Venture Card worth $95?
You have to be the judge of that as it depends on how you want to earn and redeem your miles.
The Venture Card’s primary competitor is the Chase Sapphire Preferred.
The difficult comparison between the Sapphire Preferred and the Capital One Venture. Both have the same annual fee, except the Sapphire Preferred only offers 2x bonus rewards on travel and dining. Miles can be transferred to a travel partner or redeemed through Chase for 1.25 cents each. If you’re willing to sacrifice purchase rewards for more redemption options, the Sapphire Preferred is the better card.
Your Credit History Also Matters
It might also depend on your credit history and if you qualify for the Sapphire Preferred. Chase will automatically decline your Sapphire Preferred application if you have been approved for five new credit cards in the past 24 months. Barclays is selective with new card applicants at times.
You do need excellent credit (700+) to maximize your odds of approval. But Capital One is more lenient in approving credit card applications if you regularly churn cards.
To help make your decision a little easier, we will look at the pros and cons of the Capital One Venture Credit Card.
- Earn unlimited 2 miles per $1 on any purchase
- They waive the $95 annual fee the first year
- You can redeem miles for any travel purchase as a statement credit
- Redemption minimum is 2,500 miles ($25) for a travel purchase (10,000 miles for the Arrival Plus)
- 50,000-point bonus offer worth $500 in travel statement credit
- Rewards don’t expire
- You can only redeem miles for travel statement credits
- Cannot transfer miles
- No point redemption bonuses
Summary of the Capital One Venture Credit Card
The Capital One Venture Credit Card is a solid travel rewards card. It gives you the maximum number of miles on each purchase. If you want a card that makes it easy to earn or redeem miles and do not need to transfer them to your airline or hotel loyalty account, this can be a good option. Simplicity is a key advantage of this card.
Apply Now For the Capital One Venture Credit Card: See more information here.
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Editorial Note: The editorial content on this page is not provided by any bank, credit card issuer, airlines or hotel chain, and has not been reviewed, approved or otherwise endorsed by any of these entities.