Capital One Venture Rewards Credit Card review: Simplicity meets travel rewards

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In a crowded travel credit card market, the Capital One Venture Rewards Credit Card stands out with its refreshing simplicity.

With this card, you’ll earn a minimum of 2X miles on all purchases and enjoy the flexibility to use those rewards across a spectrum of travel options. With a reasonable $95 annual fee, this card bridges the gap between basic no-annual-fee cards and premium travel cards.

Capital One Venture Rewards Credit Card overview 

The Capital One Venture Rewards Credit Card is designed for travelers who value simplicity and flexibility. Here's what you need to know:

• Rewards: Earn 2X miles on every purchase, everywhere. Plus, get 5X miles on hotels and rental cars booked through Capital One Travel.
• Sign-up bonus: Earn 75,000 bonus miles once you spend $4,000 on purchases within the first three months from account opening — worth up to $750 in travel.
• Annual fee: $95
• Key benefits: Up to $120 credit for Global Entry or TSA PreCheck, no foreign transaction fees, travel accident insurance and auto rental collision damage waiver 
• Redemption options: Use miles for travel bookings, transfer to airline and hotel partners, or redeem for statement credits, gift cards, and more.

Capital One Venture Rewards rewards 

The Capital One Venture Rewards Credit Card appeals to both travel enthusiasts and those new to the rewards game. Let's dive into what makes this card stand out.

Earning rewards 

The Capital One Venture Rewards card offers a straightforward earning structure:

• 2X miles on all purchases
• 5X miles on hotels and car rentals booked through Capital One Travel

This flat-rate approach simplifies rewards, as you don't need to keep track of rotating or bonus categories. But it presents a trade-off compared to cards like the Chase Sapphire Preferred® Card, which offers 1X points on regular purchases but higher rates on specific categories (like 3X on dining and 2X on travel).

The Venture card may be more rewarding for those with diverse spending habits. On the other hand, others may benefit more from cards with bonus categories aligned with their spending patterns.

Redeeming rewards 

The Capital One Venture Rewards card offers incredibly flexible redemption options. The value of your miles varies based on how you redeem them: 

You can use miles to book travel — airfare, hotels, and rental cars — through Capital One at a rate of one cent per mile. You can also transfer miles to one of Capital One's transfer partners at a 1:1 ratio. Partners include: 

• Aeromexico Club Premier
• Air Canada - Aeroplan®
• Cathay Pacific - Asia Miles
• Avianca LifeMiles
• British Airways Executive Club
• Choice Privileges®
• Emirates Skywards
• Etihad Guest
• Finnair Plus
• Flying Blue
• Qantas Frequent Flyer
• Singapore Airlines KrisFlyer
• TAP Miles&Go
• Turkish Airlines Miles&Smiles
• Virgin Red
• Wyndham Rewards

You can also transfer miles to EVA Air Infinity MileageLands at a 4:3 ratio and ALL Accor Live Limitless at a 2:1 ratio.

Non-travel redemption options include travel statement credits, gift cards, or purchases through Amazon or PayPal. Here’s a look at rewards value by redemption option:

Capital One Venture Rewards benefits 

Sign-up bonus

The Venture Rewards card offers a higher sign-up bonus than other travel cards.

New cardholders can earn 75,000 bonus miles once you spend $4,000 on purchases within the first three months from account opening. 

This bonus is worth up to $750 when redeemed for travel through the Capital One Travel portal and potentially more if transferred to airline or hotel partners for high-value redemptions.

Additional perks

Although the Venture Rewards card may not offer the same benefits as some premium travel cards, it provides a range of perks for its modest annual fee. This includes:

• Up to $120 fee credit for Global Entry or TSA PreCheck membership
• Complimentary Hertz Five Star status for car rentals
• $50 credit for each stay booked through the Lifestyle Collection
• Exclusive access to events and experiences through Capital One Entertainment
• Special dining options and perks through Capital One Dining
• Auto rental collision damage waiver for car rentals
• 24/7 travel assistance services
• Travel accident insurance coverage
• Extended warranty protection on eligible purchases

Capital One Rewards credit card fees & rates 

Annual fee 

The Capital One Venture Rewards Credit Card has an annual fee of $95. It’s comparable to other travel credit cards offering similar benefits and transferable rewards, such as the Chase Sapphire Preferred® and the Citi Strata PremierSM Card. 

While some travel cards have no annual fee, others may charge higher fees of $395 to $695 for more premium benefits. The right choice depends on the rewards and benefits you will pay for.

Interest rates

Like most travel cards, the Venture Rewards card does not offer an introductory APR for purchases or balance transfers. 

Cardholders who carry a balance from month to month will be subject to a variable APR of 19.74% to 29.74%, depending on their creditworthiness. While this APR range is high, it is consistent with other travel credit cards. To avoid interest charges, it’s best to pay your statement balance in full each month.

Other fees

The Venture Rewards card does not charge foreign transaction fees, a standard feature across all Capital One credit cards.

However, there are some fees to be aware of: 

• Balance transfer fee: 4% of the amount transferred
• Cash advance fee: 5% of the amount advanced, with a minimum fee of $5
• Late payment fee: Up to $40 per occurrence

These fees can be easily avoided by refraining from balance transfers and cash advances and making timely payments.

Comparing the Capital One Venture Rewards card

Here's how Capital One Venture compares to similar mid-tier travel credit cards.

Who should consider the Capital One Venture Rewards credit card?

The Venture Rewards card is popular due to its versatility and long-standing presence in the market. Consider adding this travel credit card to your wallet if:

• You prefer simple, flat-rate rewards: The Venture Rewards card might be the perfect fit if you don't want to keep track of bonus categories or spending caps. Its flat-rate structure makes earning rewards on every transaction easy without complicated strategies.
• You value flexibility in redemption options: You can use your miles for travel purchases, transfer them to airline and hotel partners, or even redeem them for statement credits to offset travel expenses. This flexibility allows you to tailor your redemptions to your needs and preferences.
• You can take advantage of Capital One's transfer partners: If you frequently travel with partners like Air France (Flying Blue), British Airways, or Wyndham Rewards, you can potentially get even more value from your miles by transferring them to these programs for high-value redemptions.
• You want travel benefits without a high annual fee: For just $95, you can enjoy benefits like a Global Entry or TSA PreCheck fee credit, an annual $50 hotel credit, and no foreign transaction fees without breaking the bank.

How we rated this card 

Every credit card review we publish has undergone a rigorous editorial process to ensure accuracy and objectivity.

We rate all credit cards on a 10-point system, with 10 being the highest possible score and 1 being the lowest possible score. We assess each card across several key factors, weighted based on what our research shows matters most to readers like you. Learn more about our methodology here. 

• Rewards: The card's standout feature is its flat 2X miles on all purchases, which offers simplicity and consistent value. While this structure is great for those who prefer simplicity, it may not maximize rewards for heavy spenders in specific categories like dining or groceries.
• Redemption flexibility: Capital One miles offer excellent flexibility. You can redeem for travel at a fixed value, transfer to travel partners (mostly at a 1:1 ratio), or choose from various other options. 
• Benefits: The card offers solid travel benefits like the Global Entry/TSA PreCheck credit and travel protections. However, it lacks premium perks like airport lounge access. 
• Annual fee: At $95, the annual fee is reasonable and can be easily offset by the card's rewards and benefits for most users. 
• Welcome bonus: The bonus is achievable and offers substantial value, especially when maximized through transfer partners.
• Rates & other fees: While the card doesn't charge foreign transaction fees, which is great for international travelers, it has a high APR and lacks an introductory APR offer. 

The bottom line 

The Capital One Venture Rewards Credit Card is an excellent choice for those who want a straightforward way to earn travel rewards. Its flat-rate earning structure and the flexibility to transfer miles to travel partners make it a versatile option for many travelers.

However, you might want to explore other options if you're looking for luxury travel perks or have specific category spending that could earn more with a different card. Consider your spending habits and travel goals when choosing a rewards credit card.

Editorial disclosure: Opinions expressed are author's alone, not those of any bank, credit card issuer, or other entity. This content has not been reviewed, approved, or otherwise endorsed by any of the entities included in the post.