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Capital One VentureOne Rewards Credit Card Review

Capital One VentureOne 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 Aug 14, 2020. Terms and conditions may have changed. For the most accurate information, please consult the issuer website.

The Capital One VentureOne Rewards Credit Card is ideal for travelers who want a simple approach to earning rewards. Along with offering a flat rewards rate on every purchase, the card comes with a $0 annual fee and a variety of travel benefits.

We look at the pros and cons of the Capital One VentureOne Rewards Credit Card, and show how it compares to another flat rate travel rewards card — the Discover it® Miles card.

Capital One VentureOne Rewards Credit Card pros

Fair sign-up bonus. Capital One VentureOne Rewards Credit Card holders earn a earn a bonus of 20,000 miles once you spend $500 on purchases within 3 months from account opening, equal to $200 in travel.

Earn Up to 50,000 Bonus Miles With Capital One Venture Cards

Simple rewards structure. The Capital One VentureOne Rewards Credit Card offers a flat rewards rate of 1.25 miles per dollar on every purchase, every day. Venture miles can be redeemed for cash in the form of a check or account credit and gift cards. You can also use miles to book new travel reservations through capitalone.com or the Capital One Rewards Center, or redeem miles for past travel using Purchase Eraser.

Intro APR on purchases. If you need to finance a large purchase and pay it off over time, you can do so without incurring interest charges for a year. That’s because the Capital One VentureOne Rewards Credit Card offers an intro APR of 0% intro on purchases for 12 months. After that, a regular APR of 15.49% - 25.49% (variable) applies to any unpaid portion of the balance.

Limited fees. The Capital One VentureOne Rewards Credit Card charges a $0 annual fee. As for foreign transaction fees – there are none. Additionally, if you pay your bill late, you will not be subject to a penalty APR. The card will also waive the late fee (of up to $39) on your first late payment.

How to Redeem Capital One Venture Miles for Travel

Additional Capital One VentureOne Rewards Credit Card benefits:

  • Travel transfer partners. Cardholders can transfer miles to a variety of airline and hotel partners, including Accor Live Limitless, Air France KLM, Emirates Skywards, JetBlue TrueBlue and much more at a rate of 2:1.5 or 2:1, depending on the transfer partner.
  • Travel accident insurance. Receive automatic insurance for a covered loss when you use your card to purchase your fare.
  • Auto rental collision damage waiver. Get coverage for damage due to collision or theft when you rent an eligible vehicle using your card.
  • Travel assistance services. If your card is lost or stolen, receive an emergency replacement card and a cash advance.
  • Extended warranty. Receive additional warranty protection at no charge on eligible items that are purchased with your credit card.

Capital One Adds Hotel Transfer Partners, Increases Transfer Value for JetBlue

Capital One VentureOne Rewards Credit Card cons

Modest rewards earnings rate. While the Capital One VentureOne Rewards Credit Card offers a reasonable 1.25 miles per dollar on every purchase, every day, there are flat rate cards available — like the Discover it® Miles — that offer a higher amount of rewards per dollar (more details below).

No balance transfer intro APR. If you have a large amount of high interest credit card debt that you want to transfer, the Capital One VentureOne Rewards Credit Card does not offer a 0% intro APR on balance transfers. That said, the card does come with a $0 balance transfer fee if you choose to use the card for a balance transfer.

Best Balance Transfer Credit Cards

Compare it with the Discover it® Miles card 

  • Only Discover will automatically match all the Miles you’ve earned at the end of your first year. For example, if you earn 35,000 Miles, you get 70,000 Miles. There’s no signing up, no minimum spending or maximum rewards. Just a Miles-for-Miles match.

  • Earn unlimited 1.5x Miles for every dollar spent on all purchases - with no annual fee.

  • 0% intro for 14 months on purchases, then 11.99% - 22.99% Variable APR

Highlights
  • UNLIMITED BONUS: Only Discover will automatically match all the Miles you’ve earned at the end of your first year. For example, if you earn 35,000 Miles, you get 70,000 Miles.  There’s no signing up, no minimum spending or maximum rewards. Just a Miles-for-Miles match.
  • Earn unlimited 1.5x Miles for every dollar spent on all purchases - with no annual fee.
  • Turn Miles into cash in any amount, any time. Or redeem as a statement credit for travel purchases like airfare, hotels, rideshares, gas stations, restaurants and more with no blackout dates. However you redeem, Miles keep the same value. And Miles never expire.
  • New! Redeem Miles for cash in any amount to pay your bill, including your minimum payment.
  • No Blackout Dates. Simply pay for travel purchases like airlines, hotels, rental cars, and more with your Discover it® Miles card.
  • Discover is accepted nationwide by 99% of the places that take credit cards.
  • Freeze your account in seconds with an on/off switch either on the mobile app or website to prevent new purchases, cash advances, and balance transfers.
  • Get your free Credit Scorecard with your FICO® Credit Score, number of recent inquiries and more.
  • Get an alert if we find your Social Security number on any of thousands of Dark Web sites.* Activate for free.
  • See Rates & Fees

See additional details for Discover it® Miles

More Info

Like the Capital One VentureOne Rewards Credit Card, the Discover it® Miles card offers a simple approach to earning rewards — but at a slightly higher rate.

Discover it® Miles cardholders earn earn unlimited 1.5x miles for every dollar spent on all purchases - with no annual fee.. The card also offers a generous sign-up bonus: For new cardmembers, Only Discover will automatically match all the Miles you’ve earned at the end of your first year. For example, if you earn 35,000 Miles, you get 70,000 Miles. There’s no signing up, no minimum spending or maximum rewards. Just a Miles-for-Miles match.

Miles can be redeemed for cash or travel, including hotels, airfare, car rentals, restaurants, gas stations and more. You can also use miles at Amazon.com checkout when you pay with PayPal.

Here’s a breakdown of the key features of each card:

Capital One VentureOne Rewards Credit Card vs. Discover it® Miles

 Capital One VentureOne Rewards Credit CardDiscover it® Miles
Annual fee$0$0
Sign-up bonusEarn a bonus of 20,000 miles once you spend $500 on purchases within 3 months from account opening, equal to $200 in travelFor new cardmembers, Only Discover will automatically match all the Miles you’ve earned at the end of your first year. For example, if you earn 35,000 Miles, you get 70,000 Miles. There’s no signing up, no minimum spending or maximum rewards. Just a Miles-for-Miles match.
Rewards rate1.25 miles per dollar on every purchase, every dayEarn unlimited 1.5x Miles for every dollar spent on all purchases - with no annual fee.
Purchase APR0% intro on purchases for 12 months, then 15.49% - 25.49% (variable)0% intro for 14 months, then 11.99% - 22.99% variable apr
Balance transfer APR15.49% - 25.49% (variable)10.99% for 14 months, then 11.99% - 22.99% variable apr
Balance transfer fee$0Intro fee of 3% intro balance transfer fee, up to 5% fee on future balance transfers (see terms)* of the amount of each transfer. After that, 5% of the amount of each transfer.
Foreign transaction feesNoneNone

In addition to a longer intro APR on purchases, the Discover it® Miles card offers an intro APR on balance transfers of 10.99% for 14 months. After that, a regular APR of 11.99% - 22.99% variable apr applies to any unpaid portion of the transfer.

Just know, the card comes with a 3% intro balance transfer fee, up to 5% fee on future balance transfers (see terms)*.

The Discover it® Miles card does not offer some of the benefits often associated with travel credit cards, such as travel transfer partners, car rental insurance or emergency travel assistance. However, the card does waive the late fee (of up to $40) the first time you pay your bill late.

Which credit card is best for me?

If you’re looking for a no-annual-fee travel rewards card, the Capital One VentureOne Rewards Credit Card and Discover it® Miles card are both good choices.

But while the Capital One VentureOne Rewards Credit Card provides more travel-specific benefits and travel transfer partners, the Discover it® Miles card offers a slightly higher rewards rate and longer intro APR on purchases and balance transfers.

Or, if you’d prefer the same travel benefits offered by the Capital One VentureOne Rewards Credit Card, but with an even higher rewards rate and sign-up bonus, you may want to look at the Capital One Venture Rewards Credit Card.

  • 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

  • 2 Miles per dollar on every purchase, every day

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

Highlights
  • 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✓®
  • Fly any airline, stay at any hotel, anytime; no blackout dates. 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

In addition to the ability to earn 2 miles per dollar on every purchase, every day, Capital One Venture Rewards Credit Card members 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. Just know, the card also comes with a $95 annual fee.


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