The Capital One® Venture® Miles Rewards Credit Card earns 2 miles per $1 spent and has a $95 annual fee. Points are easy to earn and redeem.
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Capital One® Venture® Miles Rewards Credit Card summary
For a $95 annual fee, the Capital One® Venture® Miles Rewards Credit Card earns 2 miles per dollar spent and doesn’t charge foreign transaction fees. It offers a high reward rate, airline transfer partners, and valuable travel benefits. The miles won’t expire as long as your account is active and you can earn as much as you want.
Card rating: ⭐⭐⭐⭐
Ratings and opinions are of More Money More Choices editors. It’s not influenced or endorsed by any card issuer or financial institution.
Benefits, perks, and current offers
The Capital One® Venture® Miles Rewards Credit Card stands out because it offers up to $100 credit for Global Entry or TSA PreCheck fees for an annual fee of $95. Other cards that offer this credit have an annual fee of $400 or more.
It’s also great if you travel or make purchases internationally because there are no foreign transaction fees. You can use this card outside of the United States without racking up a bunch of fees.
The current sign-up bonus is 100,000 miles after spending $20,000 within the first 12 months from account opening, or 50,000 miles after spending $3,000 within the first 3 months.
You’ll also get the following travel benefits:
- Travel accident insurance.
- 24-hour travel assistance services.
- Auto rental collision damage waiver.
Aside from travel perks, you’ll also get shopping benefits. Capital One Shopping, Paribus, and extended warranty shopping perks that this card offers.
Capital One Shopping automatically applies coupon codes to your online orders, Paribus finds potential savings on your previous online purchases, and you’ll get an extended warranty for eligible purchases.
The warranty doubles the manufacturer’s warranty up to one extra year for warranties of three years or less. The maximum is $10,000 per claim and $50,000 per cardholder.
Protecting your card number is important for online shopping. To help keep your card number secure, Capital One offers Eno for online purchases, which gives you a virtual card number to make online purchases.
Fees and interest rates
Annual fee: $95
APR for purchases: 17.24%, 21.99% or 24.49%, based on your creditworthiness.
APR for cash advance: 24.49%.
Foreign transaction fee: None.
Redeeming miles and transfer partners
Capital One miles can be redeemed for the following purposes:
- Booking a trip.
- Cover travel purchases.
- Get gift cards.
- Get statement credit or a check.
- Transfer to another account holder.
- Transfer to a loyalty program.
Full list of transfer partners
- 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
- Hainan Airlines Fortune Wings Club
- JetBlue TrueBlue
- Qantas Frequent Flyer
- Qatar Airways Privilege Club
- Singapore Airlines KrisFlyer
Note: Most of the programs have a transfer ratio of 2 to 1.5, which means for every 2 Capital One miles you redeem, you get 1.5 points or miles from the transfer partner. Accor, Emirates, and Singapore Airlines are at a slightly lower redemption rate, which is a 2 to 1 ratio.
Erase travel purchases
To redeem your miles at a fixed rate, use the Purchase Eraser to cover travel purchases that were made with the card in the last 90 days. When you erase your travel purchases, each mile is worth one cent.
To reimburse your travel purchases, follow these steps:
- Login to your Capital One account.
- Click View Account.
- Click View Rewards.
- Click Cover Your Purchases.
- Select the transaction.
- Enter the amount that you’d like to redeem.
Note: Erasing travel purchases will lower your account balance but doesn’t count as a payment.
The Capital One® Venture® Miles Rewards Credit Card used to be the obvious winner in its class. However, that’s no longer the case. Other credit card issuers have stepped up their programs and are highly competitive. The following is how other cards compare to it:
Chase Sapphire Preferred
It’s one of the most popular travel rewards credit cards because of the tremendous value that it offers when you redeem the points. When you redeem through Chase’s portal, you’ll get 25% more value for travel.
Related: Chase Sapphire Preferred review
The Sapphire Preferred earns 2 points on travel and dining, while all other purchases will earn 1 point per dollar spent. You get all of these benefits for a $95 annual fee.
When it comes to earning points, the Capital One Venture comes out ahead because it earns 2 miles for every dollar spent, whereas the Sapphire Preferred earns 2 points for travel and dining.
Amex EveryDay® Preferred Credit Card
The Amex EveryDay® Preferred has an annual fee of $95, just like the Venture. However, it doesn’t earn points the same way. Rather, it earns 3 points per dollar spent at U.S. supermarkets, 2 points per dollar spent at gas stations in the U.S., and 1 point per dollar spent on all other purchases.
One of the best features of the Amex EveryDay® Preferred is that after you use your card 30 times during a billing period, you’ll earn 50% extra points on purchases. If you use your card often, this is a fantastic benefit.
The Capital One Venture’s sign-up bonus comes out ahead because it offers 50,000 miles, whereas the Amex EveryDay® Preferred is only offering 15,000 points.
Citi Premier Card
Citi has revamped the Citi Premier Card and it competes closely with the Capital One Venture. It earns 3 points per dollar spent on travel and gas stations, 2 points per dollar spent on restaurants and entertainment, and 1 point per dollar spent on all other purchases.
Starting August 23, 2020, it’ll begin earning 3 points per dollar spent on air travel, hotels, restaurants, supermarkets, and gas stations. Citi is also adding a $100 annual hotel credit when you book a single hotel stay of $500 or more.
The benefit of going with the Venture is that you can book your travel through any website and redeem your miles to pay for it. Overall, this feature can get you the lowest rate and use the fewest points.
Frequently asked questions
Each mile is worth 1 cent when redeemed for travel.
The Capital One® Venture® Miles Rewards Credit Card is a Visa card.
According to Capital One’s website, you need excellent credit to get approved for this card. However, cardholder reviews have shown that you can qualify with good credit, which Equifax describes as 670 or higher.
Yes, the Capital One® Venture® Card is metal.
The Capital One® Venture® Miles Rewards Credit Card is one of the best rewards credit cards because it earns 2 miles per dollar spent, covers fee credit for TSA PreCheck or Global Entry, doesn’t charge foreign transaction fees, and has flexible redemption options. With all of the benefits and a low annual fee of $95, the Capital One® Venture® Card is worth it.
Featured image by David Em/More Money More Choices.
About David Em
David Em is the founder of More Money More Choices, which he launched to help you take control of your finances and build your dream life. Before More Money More Choices, David worked in leadership positions in the finance industry.