Home » Top Picks » 5 Reasons to Get the Capital One Venture Rewards Card

5 Reasons to Get the Capital One Venture Rewards Card

5 Reasons to Get the Capital One Venture Rewards Card

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

This article was last updated Aug 21, 2019. Terms and conditions may have changed. For the most accurate information, please consult the issuer website.

A credit card that offers travel rewards can bring great value, helping you turn a dream vacation into a reality. But if you find the rewards structure for some travel cards confusing, and would prefer a travel card that’s straightforward and easy to use, the Capital One® Venture® Rewards Credit Card may be just what you need. You can earn miles at a flat rate with every purchase, and you can easily redeem your miles to book future travel or to cover past travel purchases.

In this article:

1. Earn unlimited 2 Miles per dollar on every purchase, every day

Some popular credit cards offer flat-rate cashback rewards. If you want similar convenience but you’re looking for miles, the Capital One® Venture® Rewards Credit Card has you covered. You’ll earn 2 Miles per dollar on every purchase, every day when using this card.

Another great thing about these miles? They’re yours for the life of your account. As long as you keep your account active and in good standing, the rewards won’t expire — but if you close the account, you will lose any unredeemed rewards.

2. Redeem for past or future travel

When it comes time to redeem your miles, you have options. You can use them to book travel through Capital One, you can use Purchase Eraser to redeem them for past travel purchases or you can transfer them to loyalty programs with Capital One’s travel partners.

As of August 2019, Capital One has 15 available partner loyalty programs:

  • Accor Live Limitless
  • Aeromexico Club Premier
  • Air France KLM Flying Blue
  • Air Canada Aeroplan
  • Alitalia MilleMiglia Program
  • Asia Miles
  • Avianca LifeMiles
  • Emirates Skywards
  • Etihad Airways Etihad Guest
  • EVA Air Infinity MileageLands
  • Finnair Plus
  • JetBlue TrueBlue
  • Qantas Frequent Flyer
  • Singapore Airlines KrisFlyer
  • Wyndham Rewards

You can also redeem miles as cash in the form of checks, account credits and gift cards, although the value of the redemption isn’t that great.

If you book a flight, hotel or rental car through capitalone.com — or by contacting Capital One’s Rewards Center — and use miles to pay, you’ll need 100 miles for each $1 of your purchase. So for instance, for a $200 purchase, you’d need to redeem 20,000 miles.

3. Get protections and travel perks

The Capital One® Venture® Rewards Credit Card comes with a variety of perks that can make your trip, whether domestic or international, a safer and more convenient experience. To take advantage of these perks, note that you need to pay for your ticket and related expenses using this card.

As a Visa Signature card, the Capital One® Venture® Rewards Credit Card offers up to $3,000 in lost luggage reimbursement if your carry-on luggage or checked bag gets lost or stolen. It also comes with travel accident insurance for accidental death or dismemberment, and travel and emergency assistance services to help with coordinating medical, legal and travel services.

There’s also a credit of up to $100 for Global Entry or TSA Precheck — Capital One will reimburse you if you put the application fee on this card. You can get one statement credit per account every four years for this perk, and your account must be open and in good standing when the credit is applied. Note that if you apply for both Global Entry and TSA PreCheck, the Capital One® Venture® Rewards Credit Card credit will apply to whichever program is billed first.

Other perks include extended warranty protection and auto rental collision damage waiver.

4. Earn a generous sign-up bonus

The Capital One® Venture® Rewards Credit Card has 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.

While $500 might not get you a trip to Europe, it can easily cover the cost of many domestic flights within the United States. So if you’re on the East Coast and hankering to visit the West Coast — or vice versa — this bonus could help you get there. And if you’re set on an international trip, it’s possible to find tickets from the U.S. to Canada at this price point.

5. Pay no foreign transaction fee, and the annual fee is $0 intro for first year; $95 after that

Don’t worry about paying a foreign transaction fee when carrying this card — there is none. For a card geared toward travelers, this is important. If you have to pay an extra fee each time you make a transaction while traveling outside the United States, that can eventually add up.

The annual fee for this card is $0 intro for first year; $95 after that. Having the annual fee waived the first year is great because it means all the miles you earn are net value for your wallet — you don’t have to try to hit a certain spend in order to recoup the cost of the annual fee. It also gives you a trial period where you can use the card and see if you like it without having to pay the fee right up front. Some competing cards don’t waive the annual fee for the first year, so the Capital One® Venture® Rewards Credit Card  stands out in this respect.

Read: Best No Foreign Transaction Fee Credit Cards

The bottom line

If you’re looking for a truly top-of-the-line travel card, know that the Capital One® Venture® Rewards Credit Card can’t compete with cards such as the Chase Sapphire Reserve®. But that’s not the niche this card is trying to fill. What the Capital One® Venture® Rewards Credit Card does well is offer a competitive flat rate on miles — with no limit on how many miles you can earn — along with easy ways to redeem those miles toward both past and future travel purchases.

The ability to cover past travel via the Purchase Eraser is especially convenient. After you’ve made a purchase through your preferred travel website, travel agent or other travel resource using the Capital One® Venture® Rewards Credit Card, use the Purchase Eraser to redeem miles toward that purchase within 90 days and you’ll receive an account credit for the amount of the purchase.

Here’s how Capital One defines which purchases are eligible for Purchase Eraser:

“Purchases made from airlines, hotels, rail lines, car rental agencies, limousine services, bus lines, cruise lines, taxi cabs, travel agents and time shares are generally considered to be travel purchases and availability for redemption is based on the merchant category code assigned to them by the merchant. Capital One is not responsible for how merchants assign these codes.”

In short, the Capital One® Venture® Rewards Credit Card is a travel card for those who prefer simplicity when it comes to redeeming travel rewards. And there’s a low barrier to entry with the annual fee of $0 intro for first year; $95 after that. Some higher-end travel cards charge fees upward of $400.

If you’re interested in getting into travel rewards but you’re still not sure you want a card with an annual fee, the Capital One® Venture® Rewards Credit Card has a little sibling with a $0 annual fee — the Capital One® VentureOne® Rewards Credit Card.

Recommended Posts:

Read More

Best Credit Cards for Bad Credit for June 2020

If you have bad credit, which is a credit score that’s less than 580, there are credit cards designed specifically to help rebuild your credit. However, most of the best cards for bad credit are secured cards, which require you to put down a security deposit as collateral for your card’s credit line. That deposit […]

Read More

May 29, 2020

Read More

Best Credit Cards for 3% Cashback

If you’re in the market for a new credit card and prefer cashback rewards over points and miles, you’d be wise to consider a card that offers the highest amount of cash back on every purchase you make. There are several credit cards currently available that offer up to 2% cash back on every purchase. […]

Read More