The Capital One VentureOne Rewards Credit Card is a general-use travel credit card designed for good credit.
Cardholders earn 1.25X miles per dollar for every purchase. Also, when redeemed for regular travel expenses, each mile can be worth up to 1 cent, meaning you get a cash back equivalent of 1.25% for all purchases.
Capital One recently introduced a set of airline partners to which you can transfer miles, giving this card more value and flexibility and, potentially, allowing you to earn more than 1 cent per mile.
If you want to gain an elite hotel member status, you should probably look elsewhere for travel rewards. There are co-branded hotel cards that can provide an equal or better return on your spending, for example, but they’re limited to just one hotel brand.
There’s no annual fee to use this card, and you won’t be charged a fee for foreign transactions. You get a 0% intro APR (annual percentage rate) for 15 months, giving you a way to pay off some travel expenses or debt over time without getting charged extra for interest before the 14.99% – 24.99% variable APR kicks in.
Capital One provides another Venture travel card, which has an annual fee but offers a slightly better rewards program: the Capital One Venture Rewards Credit Card.
Keep reading to learn more about the VentureOne Rewards card, and see if it would be a good choice to help manage your travel spending.
Our Rating: 4 Out of 5 Stars
We give the VentureOne Rewards card 4 out of 5 Stars because it offers decent general spending rewards, has no annual fee and (the traveler’s favorite) point transfers.
Why we like it
- No annual fee
- Earn 20,000 bonus miles when you spend $500 on purchases within 3 months of account opening, which equals $200 in travel
- Point transfer to a selection of airline partners
- 0% intro purchase and balance transfer APR for 15 months, then 14.99% – 24.99% Variable
- Visa benefits
- No foreign transaction fees
Why it could be better
- Must redeem for travel expenses to get the best value for your miles
Insider Advice: Getting the Most Out of Your Card
- Reach the bonus: Spend enough in the first few months after opening the account to earn a wealth of bonus miles.
- Find more value: Consider transferring your miles to an airline loyalty program where you may find a better value than 1 cent per mile for them.
- Utilize the introductory period: Take advantage of the 0% intro purchase APR for 15 months to pay off some pricy hotel stays over time, or any other expenses, without accruing extra interest.
- Pay off some expensive debt: If you’re dealing with debt at a high-interest rate, this card’s balance transfer offer allows you to move the debt over and pay it down without being charged extra. Just be sure to factor in the transfer fee.
- No foreign transaction fees: Use this card outside the country because it has no foreign transaction fees, and it’s accepted just about anywhere that takes credit cards because it’s a Visa.
The VentureOne Rewards can provide the equivalent of 1.25% cash back for every purchase. This assumes you’re redeeming for travel expenses at 1 cent per mile, but you could find better deals through mile transfers.
As long as your account remains open and in good standing, miles never expire. This means you can earn an unlimited number of miles.
These miles can be redeemed for 1 cent each for past travel expenses. So you get a cash back equivalent of 1.25% back for all purchases.
You can also transfer your miles to a variety of airline loyalty programs, where you might find a better value than 1 cent per mile.
The 1.25X miles you earn for purchases isn’t very rewarding, and there are other travel credit cards that will probably be better for your spending habits.
You have three basic options when redeeming your miles:
- Travel expenses: Provide 1 cent per mile.
- Past travel expenses from the last 90 days can be paid for with miles using the Purchase Eraser system.
- New travel reservations can be booked with miles through Capital One’s website or by calling customer support.
- Cash back statement credits, gift cards, merchandise: Provide less than 1 cent per mile.
- Mile transfers: Provide various mile values, depending on the deal.
We recommend always redeeming for mile transfers or travel expenses because you get at least 1 cent per mile. We’ll explain how to redeem for travel expenses first, and then we’ll go over mile transfers.
You can redeem for either past or upcoming travel expenses. Miles don’t expire, so you can hold on to them until you can redeem them in this way.
The Purchase Eraser system will let you find eligible travel expenses from the past 90 days, and you can use miles to pay them off. Partial redemptions are available to pay for part of a purchase.
The types of eligible travel expenses include:
- Car rentals
- Rail lines
- Limo services
- Cruise lines
- Travel agents
Miles can also be used to pay for travel reservations as you make them. You need to book travel either through Capital One’s website or by calling customer support to redeem miles in this way.
You can transfer your Capital One miles to several different airline loyalty programs, where you might find a better value than 1 cent per mile.
Most of the transfer rates are 2:1.5 (2 Capital One miles for 1.5 partner airline miles), although some transfer partners have a lower rate.
- CreditWise® Credit Monitoring: See your VantageScore® 3.0 and other data based on your TransUnion® credit report.
- Capital One Second Look fraud coverage: Automatically monitors your account 24/7 for fraudulent activity.
- Zero Liability Protection: You won’t be held responsible for fraudulent charges made to your account.
- Warranty Manager Service (Visa Signature only): Register to monitor product warranties, and eligible items purchased with your card can have their manufacturer’s warranty doubled up to an additional year (for warranties of three years or less).
- Auto Rental Insurance (Visa Signature only): Decline the rental company’s own insurance to get coverage against collision damage and theft for eligible rented vehicles.
- Travel and Emergency Assistance Services (Visa Signature only): Access to a variety of services like medical and legal referrals, emergency transportation or ticket replacement, and pre-trip assistance.
- Travel Accident Insurance (Visa Signature only): Provides up to $250,000 in coverage when traveling by common carrier, when the entire cost of the fare is charged to the card.
What Is the Credit Limit of the VentureOne Rewards Card?
The VentureOne Rewards card is issued as either a Visa Platinum or Visa Signature card.
Your card will come with a credit limit of at least $2,000. If your credit limit is less than $5,000, you’re given a Visa Platinum card. If the limit is $5,000 or above, you get a Visa Signature with upgraded benefits, as described above.
Cardholders can request a credit line increase from Capital One at any time, though we recommend waiting between 6 to 12 months between requests. Capital One may also increase your credit line automatically if you show responsible credit behavior.
You likely can’t upgrade from Platinum to Signature once your card has been issued, even if your credit limit is increased above $5,000.
The Bottom Line
The Capital One VentureOne Rewards Card is a decent pick for general use spending if you don’t want to pay an annual fee.
This card has become more valuable since Capital One added the ability to transfer to airline loyalty programs, giving you more flexibility in redemptions with options that could provide more than 1 cent per mile.
Your card protection benefits kick in at the upgraded Visa Signature level if your credit limit is $5,000 or above. Otherwise, you just get more basic protections. These can potentially save you some time and money while shopping and traveling.
There’s no annual fee to pay, and you get a 0% introductory interest rate for purchases for one year, with a 14.99% – 24.99% variable APR after that. That will let you pay off a vacation or some hotel trips over time, lessening the blow to your bank account.
Check out some other travel credit cards below, which offer points or miles for different kinds of travel expenses.
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How To Apply for the VentureOne Rewards Card
You can apply for the Capital One VentureOne Rewards Card securely on the Capital One website.
Most applicants will get an instant decision. In some cases, Capital One may request more information.
This card is designed for good credit, meaning a FICO® score of at least 670. But this isn’t a direct requirement, and, depending on your other financial information, you may be approved if your credit scores are close.
Alternatives to the Capital One VentureOne Rewards Card
- Capital One Venture Rewards Credit Card
- Chase Sapphire Preferred® Card
- Discover it® Miles Card
- JetBlue Plus Card
- Marriott Bonvoy Boundless® Credit Card