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Review of the Capital One Venture Rewards Credit Card rewards

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This article was last updated Oct 19, 2017, but some terms and conditions may have changed or are no longer available. For the most accurate and up to date information please consult the terms and conditions found on the issuer website.

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If you are not a fan of traditional airline miles or hotel points, the Capital One® Venture® Rewards Credit Card may be best for you. This card now features a One-time bonus of 50,000 miles once you spend $3,000 on purchases within 3 months from account opening, equal to $500 in travel. The annual fee is $0 intro for first year; $95 after that.

As we found in our review, the Capital One® Venture® Rewards Credit Card is great if you want flexible travel rewards without blackout dates. The “miles” earned translates to cash back for travel bought using your Capital One® Venture® Rewards Credit Card, or trips booked in the Capital One® Rewards Center.

Is this a good deal?

Our calculator estimates if you spend $1,200 every month on the card (enough to satisfy the reward spend), you could earn over 50,000 miles in the first year, for a grand total of $618 towards travel expenses when you include the bonus.

The Capital One® Venture® Rewards Credit Card offers limited benefits for international travelers.

If you are always looking for a straightforward, easy to understand loyalty program with the flexibility to credit any qualifying travel expense, $560 in credit for $3,000 in spending ($60 from spending $3,000 earning 2 miles per dollar, and $500 from the 50,000-mile promotion, with all miles valued at one cent each) is a good value. But if you like using your miles for premium rewards, like first class flights and five-star hotel rooms, or spend more in one category (like gas stations), this card may not be right for you.

If you’re sensitive to credit inquiries, be aware: some users on FlyerTalk report Capital One may pull a report from all three credit bureaus.

How much are Venture Miles worth?

Venture Miles are not “miles” in the traditional sense. Instead, points can be used towards credits on qualified travel expenses charged to your Capital One® Venture® Rewards Credit Card.

When using your Capital One® Venture® Rewards Credit Card, you will earn an unlimited 2 Miles per dollar on every purchase, every day.  Miles hold a fixed value of one cent each when you use them towards travel, no matter where you spend.

How can I use Venture Miles?

Venture Miles can be used in one of two ways. Miles can be used to credit qualifying travel charges made to your Capital One® Venture® Rewards Credit Card, including airlines, hotels, rail lines, car rental agencies, limousine services, bus lines, cruise lines, taxi cabs, travel agents and time shares – no matter where you made your purchase. Because there are no blackout dates, you have complete control over your miles when you pay with your Venture Miles card.

You can also book trips through the Capital One Rewards Center by logging into your account. Flights, hotels and rental cars are all available through their booking portal. If you do not have enough miles to cover your trip, you can book awards with miles and cash through the rewards center at the same value of one cent per mile.

capital-one-venture-rewards-screenshot

While you can’t transfer Venture Miles to other rewards programs, one of their advantages is that awards count as cash bookings. When using Venture Miles for airfare, you can earn credit towards loyalty status and keep your frequent flyer award miles. For hotels, you will have to pay for your stay on your card and use miles for statement credit to earn hotel loyalty points and get loyalty benefits.

Another bonus of the Capital One Rewards Center are their exclusive deals on hotel rooms and rental cars. These deals span the entire world, including Italy, Mexico and the United Arab Emirates, which could save you even more money.

Capital One Booking Engine Deals Screenshot - Taken 10-18-17

Questions and Answers

How is the Capital One® Venture® Rewards Credit Card different from the Capital One® VentureOne® Rewards Credit Card?

The Capital One® VentureOne® Rewards Credit Card comes with a $0 annual fee, but earns 1.25 Miles per dollar on every purchase, every day. New cardholders will earn a One-time bonus of 20,000 miles once you spend $1,000 on purchases within 3 months of account opening, equal to $200 in travel.

In our review of the Capital One® VentureOne® Rewards Credit Card, we found the card doesn’t have good earning power, but has no international transaction fees. While the Capital One® VentureOne® Rewards Credit Card is good if you don’t travel often or to use for international spending, our calculator shows you may get more long-term value out of the Capital One® Venture® Rewards Credit Card.

What are the other card benefits?

Capital One® Venture® Rewards Credit Card is a Visa Signature® card, giving you access to all the benefits from the card program. Through Visa Signature®, you may access discounts at select online retailers, get travel upgrades or savings at hotels and resorts, and secondary auto rental collision damage insurance.

Are there any bonus categories to earn more Venture Miles?

Venture Miles does not offer any bonus categories. All purchases earn 2 miles per dollar, regardless of the category.

Can I transfer my Venture Miles to other programs?

No: Venture Miles can only be used through Capital One, and can’t be transferred to other loyalty programs.

Can I use Venture Miles for anything else but travel?

Yes: you can also use miles for cash back rewards or gift cards. Miles for gift cards redeem at one cent per mile – the same rate as travel rewards. Miles for cash back redeem at half that rate, meaning you would have to spend 5,000 miles for $25 cash back, which is a poor value.

Can you get this offer if you had the card before?

Not necessarily: according to the terms and conditions: “existing or previous account holders may not be eligible for this one-time bonus.”

Should you get the deal?

If you don’t have a preferred airline or hotel chain and don’t mind sitting in economy for flights, the Capital One® Venture® Rewards Credit Card can offer good returns over time. Getting 2 Miles per dollar on every purchase, every day is good value, and the ability to book any flight or hotel at any time without blackout dates makes this card worth holding – even when points redeem at one cent each.

Are there better deals out there?

Compared against the Capital One® Venture® Rewards Credit Card, The Chase Sapphire Preferred® Card has a sign up bonus where you Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. But, with additional upside. The card offers 2X points on travel and dining at restaurants worldwide & 1 point per dollar spent on all other purchases, and Ultimate Rewards® points transfer to 7 airline programs and 3 hotel programs, potentially giving you even more value towards first class travel. The Chase Sapphire Preferred® Card comes with an annual fee of $0 Intro for the First Year, then $95.


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