Review: Capital One Venture Rewards Card

Photo (cc) by Infusionsoft

I review dozens of credit card offers each week to find the best deals. Check out more on our credit card page.

Credit card companies love to tout cards that earn travel rewards redeemable with airline and hotel partners. But there’s a catch: Points and miles earned with these cards are only as good as the award travel programs they’re connected to. As a result, consumers sometimes complain their points and miles can’t be used for trips they want, when they want to take them.

If that sounds familiar, the Capital One® VentureSM Rewards Credit Card could be for you. It offers double “miles” on all your purchases, worth 1 cent each as a statement credit toward any travel-related expense.

Advantages

  • Earn double miles. Two miles are earned for each dollar spent on any purchase. And since each mile is worth 1 cent, that’s comparable to a 2 percent cash back card.
  • Redeem for any travel expense. Charge any flight, hotel, car rental, or cruise to your card, and you can use your miles for reimbursement. That means no blackout dates or capacity restrictions, and the better deal you get, the fewer miles you use.
  • Sign-up bonus. You earn 10,000 miles once you spend $1,000 on purchases within three months of opening your account, worth $100 in travel reimbursement.
  • No foreign transaction fees. Capital One was one of the first card issuers to eliminate these fees on all of their products.
  • No limit, no expiration: The miles you earn don’t expire and there’s no limit to the number you can earn.

Disadvantages

  • Poor non-travel rewards. You can use your miles for merchandise and gift cards, but you get only 0.5 cents per mile. Therefore, it only makes sense to use your miles for statement credits toward travel expenses.
  • Sometimes you can do better with airline miles. Getting value out of airline miles is tough, but it can be done. For example, spending $100,000 on an airline card will earn you enough miles for a business-class ticket to Europe. Spend that on this card and you will only earn enough miles for a $2,000 ticket, barely enough for coach.
  • Annual fee. Most Capital One cards do not have an annual fee, but this one has a $59 fee, waived the first year. This card is also available as the VentureOne Rewards Credit Card with no annual fee, but you only get 1.25 miles per dollar spent.
  • High interest rate. Like most reward credit cards, you’ll have a higher interest rate if you carry a balance. In this case, 13.9 percent to 20.9 percent variable APR, depending on your credit history. But frankly, if you plan on carrying a balance, you should look for a card with a low interest rate, not a rewards card.
  • No promotional balance transfer offer. Many cards come with interest-free financing for balance transfers and new purchases, but this card doesn’t.

Bottom line

Get it if: You have excellent credit, want maximum rewards with the least restrictions, and you travel a lot.

Forget it if: You know how to play the airline rewards game, or you need a card with a low interest rate.

Note: While we attempt to be completely objective when reporting on credit cards, this site may be compensated by issuers when a reader applies for a credit card through the links within credit card stories or on our credit card search page.

How to find cheaper car insurance in minutes

Getting a better deal on car insurance doesn't have to be hard. You can have The Zebra, an insurance comparison site compare quotes in just a few minutes and find you the best rates. Consumers save an average of $368 per year, according to the site, so if you're ready to secure your new rate, get started now.

Read Next
7 Reasons You Should Not Claim Social Security Early
7 Reasons You Should Not Claim Social Security Early

The sooner you claim your Social Security retirement benefits, the more you — and perhaps also your spouse — stand to lose. Here are the stakes.

10 Bad Money Habits That Are Robbing You Blind
10 Bad Money Habits That Are Robbing You Blind

Here’s how to change those bad behaviors.

10 Ways Anyone Can Earn More Income
10 Ways Anyone Can Earn More Income

Looking for additional cash? Here are a bunch of options that are accessible to anyone with internet access.

It’s Worth Paying Extra for These 14 Items
It’s Worth Paying Extra for These 14 Items

Here’s where to find the sweet spot at the intersection of price and quality.

How to Buy a Refrigerator, Step by Step
How to Buy a Refrigerator, Step by Step

Here’s how I got the perfect appliance at the perfect price.

View this page without ads

Help us produce more money-saving articles and videos by subscribing to a membership.

Get Started

Most Popular
Social Security Checks Likely to Grow This Much in 2021
Social Security Checks Likely to Grow This Much in 2021

The federal government recently released a key statistic that gives clear insight into what next year’s COLA will be.

This Gas Station Scam Is Victimizing More Drivers
This Gas Station Scam Is Victimizing More Drivers

For the second straight year, a growing number of Americans believe they’ve fallen prey to this scam.

21 Things You Should Always Buy at a Dollar Store
21 Things You Should Always Buy at a Dollar Store

Dollar stores have great bargains on both everyday and occasional purchases.

7 Ways to Boost Your Credit Score Fast
7 Ways to Boost Your Credit Score Fast

Your financial security might soon depend upon the strength of your credit score.

7 Unusual Ways to Declutter Your Home
7 Unusual Ways to Declutter Your Home

Tired of possessions weighing you down? Here are seven ways to declutter painlessly and effectively.

This Is the Most Popular Age for Claiming Social Security
This Is the Most Popular Age for Claiming Social Security

Both men and women are most likely to start receiving Social Security benefits at this age.

6 Things You Should Never Buy at Trader Joe’s
6 Things You Should Never Buy at Trader Joe’s

We love Trader Joe’s for plenty of reasons. But think twice about this handful of products.

Don’t Toss These 7 Household Items — Sell Them
Don’t Toss These 7 Household Items — Sell Them

Here’s how to earn cash as you give new life to these unwanted items.

6 Legal Documents Retirees Need — but Don’t Have
6 Legal Documents Retirees Need — but Don’t Have

Few retirees have these documents that are crucial to their golden years — especially during a pandemic.

19 High-Paying Jobs You Can Get With a 2-Year Degree
19 High-Paying Jobs You Can Get With a 2-Year Degree

These jobs pay more than the typical job in the U.S. — and no bachelor’s degree is required.

Eat This Food If You Want to Avoid Alzheimer’s Disease
Eat This Food If You Want to Avoid Alzheimer’s Disease

One type of food associated with the Mediterranean diet offers especially large benefits.

5 Awesome Places You Can Retire Overseas on $2,000 a Month or Less
5 Awesome Places You Can Retire Overseas on $2,000 a Month or Less

In this week’s podcast: tips on retiring overseas — from someone who’s been helping American expats for decades.

11 Expenses That Quietly Drain Your Wallet
11 Expenses That Quietly Drain Your Wallet

It’s scandalously easy to overspend in these areas of your life.

Could You Give Up These 7 Expenses to Save Thousands of Dollars a Year?
Could You Give Up These 7 Expenses to Save Thousands of Dollars a Year?

You could save more than $30,000 by setting aside these costly expenses for just one year.

10 Deep Discounts Available on Amazon This Friday
10 Deep Discounts Available on Amazon This Friday

These items are all steeply discounted — but the deals won’t last long.

9 Dumb Ways You Are Ruining Your Home Value
9 Dumb Ways You Are Ruining Your Home Value

Homeowners, beware these mistakes that can drive away potential buyers.

18 Amazon Purchases That We Are Loving Right Now
18 Amazon Purchases That We Are Loving Right Now

These practical products make everyday life a little easier.

7 Tips for Building an Emergency Stockpile
7 Tips for Building an Emergency Stockpile

A pandemic or natural disaster could leave you reliant on your existing food supply. Is your pantry prepared?

3 Ways to Get Microsoft Office for Free
3 Ways to Get Microsoft Office for Free

With a little ingenuity, you can cut Office costs to zero.

View More Articles

View this page without ads

Help us produce more money-saving articles and videos by subscribing to a membership.

Get Started

Add a Comment

Our Policy: We welcome relevant and respectful comments in order to foster healthy and informative discussions. All other comments may be removed. Comments with links are automatically held for moderation.