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Capital One Venture Rewards Credit Card Review

Capital One Venture Rewards Credit Card Review

*Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It may not have been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through a credit card issuer partnership.

This article was last updated Feb 11, 2019. Terms and conditions may have changed. For the most accurate information, please consult the issuer website.

Why has the Capital One® Venture® Rewards Credit Card developed a loyal following despite competing with other rewards cards that offer higher points on everyday purchases and more benefits? Maybe because it offers cardholders an easy way to earn flat cashback rewards and makes it simple to redeem them via Purchase Eraser or direct booking with miles.

  • Earn 100,000 bonus miles when you spend $20,000 on purchases in the first 12 months from account opening, or still earn 50,000 miles if you spend $3000 on purchases in the first 3 months

  • 2 Miles per dollar on every purchase, every day

  • Receive up to $100 application fee credit for Global Entry or TSA Pre✓®

Highlights
  • Earn 100,000 bonus miles when you spend $20,000 on purchases in the first 12 months from account opening, or still earn 50,000 miles if you spend $3000 on purchases in the first 3 months
  • 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—from vacation rentals to car rentals and more. Plus transfer your miles to over 10+ travel loyalty programs
  • No foreign transaction fees

See additional details for Capital One® Venture® Rewards Credit Card

More Info

With this card, you don’t have to remember different spending categories, nor are you wedded to a single hotel or airline loyalty program. Instead, the Capital One® Venture® Rewards Credit Card has an easy and understandable redemption platform where you can use rewards toward various travel options, including flights, hotels and rentals cars. Plus, through Dec. 31, 2020, cardholders can redeem Venture miles for eligible restaurant delivery, takeout and streaming service purchases.

But if you’re looking for a card that gives you better rewards in top spending categories, along with more travel and purchase benefits, the Chase Sapphire Preferred® Card may be a better fit. Below we take a look at the pros and cons of both cards.

Capital One® Venture® Rewards Credit Card pros

New cardmembers earn 100,000 bonus miles when you spend $20,000 on purchases in the first 12 months from account opening, or still earn 50,000 miles if you spend $3000 on purchases in the first 3 months. Earn a flat 2 miles per dollar on every purchase, every day.

You have much more flexibility when the time comes to redeem your miles on the Capital One® Venture® Rewards Credit Card. Use them to pay for travel booked on the website or app of any airline, hotel, rental cars and more using the Purchase Eraser feature, which gives you an account credit for what you spend.

You can also book travel with your miles at capitalone.com or at the Rewards Center at 800-228-3001. If you don’t want to use your miles for travel, you can redeem them for a check, an account credit or gift cards.

Additionally, the Capital One® Venture® Rewards Credit Card is one of four Capital One credit cards that allows you to transfer the miles you earn to a number of travel loyalty programs.

Transfers are done at a rate of 2 Venture miles to 1.5 airline miles with the following partners:

  • Aeromexico (Club Premier)
  • Air Canada (Aeroplan)
  • Air France KLM (Flying Blue)
  • Alitalia (MilleMiglia Program)
  • Avianca (LifeMiles)
  • Cathay Pacific (Asia Miles)
  • Etihad Airways (Etihad Guest)
  • EVA Air (Infinity MileageLands)
  • Finnair (Finnair Plus)
  • Qantas (Qantas Frequent Flyer)
  • Wyndham Rewards

Miles are transferred at a rate of 2:1 to Emirates (Emirates Skywards), Singapore Airlines (KrisFlyer) and Accor Live Limitless.

Cheat Sheet: How Long Airline Point Transfers take for Amex, Chase and Citi Points

Receive up to $100 credit to cover the enrollment fee for Global Entry or TSA Precheck when you pay for it with the card. See how our staff member, Will, cashed in on this perk during a European vacation.

Additional Capital One® Venture® Rewards Credit Card benefits:

  • Travel accident insurance
  • Auto rental collision damage waiver
  • Roadside assistance
  • Extended warranty

Capital One® Venture® Rewards Credit Card cons

The same thing that makes this card attractive is also a shortcoming — earning 2 Miles per dollar on every purchase, every day. Other travel cards offer higher points for the travel, dining and gas spending categories.

The Capital One® Venture® Rewards Credit Card charges a $95 annual fee. Some may not be able to meet the card’s minimum spend requirement to get the card’s bonus miles. Plus, the perks you would expect to see with a travel-branded card, such as trip delay, trip interruption and lost/delayed baggage insurance, aren’t included with this card.

Compare it with the Chase Sapphire Preferred® Card

  • 80,000 bonus points

  • 2X points on travel and dining at restaurants, eligible delivery services, takeout and dining out & 1 point per dollar spent on all other purchases worldwide.

  • Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards. For example, 80,000 points are worth $1,000 toward travel.

Highlights
  • Earn 80,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $1,000 toward travel when you redeem through Chase Ultimate Rewards®.
  • 2X points on travel and dining at restaurants worldwide, eligible delivery services, takeout and dining out & 1 point per dollar spent on all other purchases.
  • Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards. For example, 80,000 points are worth $1,000 toward travel.
  • Get unlimited deliveries with a $0 delivery fee and reduced service fees on orders over $12 for a minimum of one year on qualifying food purchases with DashPass, DoorDash's subscription service. Activate by 12/31/21.
  • Earn 5X points on Lyft rides through March 2022. That’s 3X points in addition to the 2X points you already earn on travel.

See additional details for Chase Sapphire Preferred® Card

More Info

If the low-miles-earning potential on everyday purchases and lack of perks of the Capital One® Venture® Rewards Credit Card isn’t what you’re looking for in a travel rewards card, then the Chase Sapphire Preferred® Card may be a better option.

Capital One® Venture® Rewards Credit Card vs. Chase Sapphire Preferred® Card

Capital One® Venture® Rewards Credit Card Chase Sapphire Preferred® Card
Annual fee $95 $95
Regular purchase APR 17.24% - 24.49% (Variable) 15.99% - 22.99% Variable
Rewards 2 Miles per dollar on every purchase, every day 2X points on travel and dining at restaurants, eligible delivery services, takeout and dining out & 1 point per dollar spent on all other purchases worldwide.
Sign-up bonus Earn 100,000 bonus miles when you spend $20,000 on purchases in the first 12 months from account opening, or still earn 50,000 miles if you spend $3000 on purchases in the first 3 months Earn 80,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $1,000 toward travel when you redeem through Chase Ultimate Rewards®.
Foreign transaction fee None $0

Chase Sapphire Preferred® Card cardholders earn 2X points on travel and dining at restaurants, eligible delivery services, takeout and dining out & 1 point per dollar spent on all other purchases worldwide. That’s pretty close to what you earn on the Capital One® Venture® Rewards Credit Card. But what makes the Chase Sapphire Preferred® Card stand out is that points are worth 25% more when you redeem them for travel at Chase Ultimate Rewards.

Additionally, the Chase Sapphire Preferred® Card offers the following sign-up bonus: Earn 80,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $1,000 toward travel when you redeem through Chase Ultimate Rewards®.

The Capital One® Venture® Rewards Credit Card’s sign-up bonus is also worth $1,000; however, that’s only if you max out the $20,000 spend requirement in the first year of card membership. If you reach the lower, $3,000 spend requirement in the first three months, the bonus is only worth $500.

Tips for Booking Travel on the Chase Ultimate Rewards Website

In addition to redeeming points for travel, cash and gift cards, Chase Sapphire Preferred® Card cardholders can transfer points at a rate of 1:1 to several airline and hotel loyalty programs. This allows you to top off any miles or points you already have in your chosen loyalty program.

The Chase Sapphire Preferred® Card has travel and purchase benefits that the Capital One® Venture® Rewards Credit Card doesn’t have, including trip cancellation/interruption insurance, baggage delay insurance, trip delay reimbursement, travel and emergency assistance services and purchase protection.

Chase Sapphire Preferred® Card review

Which credit card is best for me?

When choosing between the Capital One® Venture® Rewards Credit Card and the Chase Sapphire Preferred® Card, it all comes down to what’s most important to you in a credit card.

If you want a card that makes it easy to earn and redeem flat rewards, plus the ability to apply your rewards to offset charges with the Purchase Eraser, and don’t care about having a lot of travel perks, then the Capital One® Venture® Rewards Credit Card is your card.

But if you spend more on travel and dining, want to get more value for the points you earn for travel and have access to more benefits, then go with the Chase Sapphire Preferred® Card.

Best Travel Credit Cards.


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