Capital One Venture Credit Card Review

The Venture card gets 5 miles per dollar on hotels and rental cars booked through Capital One and 2 miles per dollar on everything else.

Capital One Venture Miles Rewards Credit Card summary

Card rating: ⭐⭐⭐⭐

For a $95 annual fee, the Capital One Venture earns 5 miles per dollar spent on hotels and rental cars booked through Capital One Travel and 2 miles per dollar spent on everything else.

Also, it doesn’t charge foreign transaction fees.

The Capital One Venture 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.

Capital One Venture details, rates, and fees

• Annual fee: $95
• Rewards rate: 2x-5x
• Regular APR: 15.99%-23.99% Variable APR
• Cash advance APR: 23.99%
• Welcome bonus: 60,000 miles
• Foreign transaction fee: Zero percent
• Balance transfer fee: 3% of each amount you transfer
• Late payment fee: Up to $40
• Accepted credit scores: Good and excellent
• Card material: Metal

Rewards rates

• 5 miles per dollar spent on hotels and rental cars booked through Capital One Travel.
• 2 miles per dollar spent on everything else.

Benefits

• 60,000 bonus miles when you spend $3,000 in the first three months.
• Earn miles on every purchase.
• Miles never expire.
• Use miles to cover travel purchases.
• Transfer your miles to over 15 travel loyalty programs.
• Global Entry or TSA PreCheck credit.
• No foreign transaction fees.

Drawbacks

• $95 annual fee.
• No intro APR offer.
• Requires good to excellent credit.

Advantages of the Capital One Venture credit card

The Capital One Venture is one of the most popular travel rewards credit cards available.

It has a modest annual fee of $95 and offers a Global Entry or TSA PreCheck fee credit of up to $100.

Most cards that offer the same credit have annual fees of three to five times as much.

The main advantages of the Capital One Venture Rewards Credit Card are as follows:

• Global Entry or TSA PreCheck application fee credit.
• Two free Capital One Lounge visits each year.
• Complimentary Hertz Five Star status.
• No foreign transaction fees.
• Travel accident insurance.
• Auto rental collision damage waiver.
• Extended warranty.

If you like to travel, there’s a lot to love about the Capital One Venture Rewards credit card.

It has a low annual fee, flexible redemption options, a high sign-up bonus, and many perks and benefits.

The Venture Rewards credit card offers a straightforward rewards structure. So, you can focus on earning and redeeming miles.

Disadvantages of the Capital One Venture credit card

While the Capital One Venture has many benefits, it has several drawbacks. The main disadvantage is the travel rewards program.

Other travel programs, such as Chase Ultimate Rewards and American Express Membership Rewards, offer more value.

You’ll get better redemption rates and options with other programs.

Another drawback is that you only earn five miles per dollar spent on hotels and rental cars when you book through Capital One Travel.

Other cards will give you the points for the category instead of a specific method.

Also, Capital One has over 15 transfer partners. But, it’s missing several domestic airlines.

If you don’t plan to travel often, choose a cashback credit card.

The Capital One Venture card is most valuable when you redeem the miles for travel.

How to redeem Capital One Venture miles

While Capital One allows you to redeem miles for gift cards and purchases on Paypal or Amazon, you won’t get the most value.

The Venture miles offer the most value when you redeem them for travel.

The two best ways to use miles are to use Capital One’s Purchase Erase or transfer them to travel partners.

When you use the Purchase Eraser, each mile is worth one cent. So, you can cover travel purchases from the last 90 days.

You can also transfer your miles to any of the following loyalty programs:

• Accor (2:1 ratio)
• Aeromexico Club Premier (1:1 ratio)
• Air Canada Aeroplan (1:1 ratio)
• Air France KLM Flying Blue (1:1 ratio)
• Asia Miles (1:1 ratio)
• Avianca LifeMiles (1:1 ratio)
• British Airways Executive Club (1:1 ratio)
• Choice Privileges (1:1 ratio)
• Emirates Skywards (1:1 ratio)
• Etihad Guest (1:1 ratio)
• EVA Air Infinity MileageLands (2:1.5 ratio)
• Finnair Plus (1:1 ratio)
• Qantas Frequent Flyer (1:1 ratio)
• Singapore Airlines KrisFlyer (1:1 ratio)
• TAP Miles and Go (1:1 ratio)
• Turkish Airlines Miles and Smiles (1:1 ratio)

Another way to use Venture miles is to book flights, hotels, rental cars, or vacation packages through Capital One Travel. Like the Purchase Eraser, each mile is worth one cent.

Credit cards that compete with the Capital One Venture

The Capital One Venture is a valuable credit card, but it’s not the only one in its class.

For a $95 annual fee or less, other cards compete with the Venture. The following are the other credit cards that are worth consideration.

Chase Sapphire Preferred

The Chase Sapphire Preferred credit card has an edge on the Capital One Venture because it gives you more value for your points.

The sign-up bonuses are similar, but you’ll get 25 percent more value when redeeming points through the Chase portal.

The following are key details about the Chase Sapphire Preferred:

• $95 annual fee.
• 5 points per dollar spent on travel booked through Chase Ultimate Rewards.
• 2 points per dollar spent on all other travel.
• 3 points per dollar spent on dining, online grocery purchases, and streaming services.
• 1 point per dollar spent on all other purchases.
• Valuable travel transfer partners, including IHG, Marriott, Hyatt, and 11 airlines.
• No foreign transaction fee.

The top starter travel credit cards are the Capital One Venture and Chase Sapphire Preferred.

The best out of the two depends on your spending and travel habits.

For most people, the rewards rate for the Sapphire Preferred is more valuable.

The Venture has a flat two points per dollar spent on everything aside from the Capital One Travel portal.

Also, the Sapphire Preferred has more travel protection features and better domestic travel partners.

Discover it Miles

The Discover it Miles credit card doesn’t have an annual fee and earns a lower rewards rate of 1.5 miles.

What makes the card valuable is that Discover matches the miles you earn at the end of your first year.

Also, you redeem miles with statement credits. So, you can go on any airline and stay at any hotel.

It’s like the Purchase Eraser from Capital One but without the annual fee.

The following are key details about the Discover it Miles credit card:

• No annual fee.
• 1.5 points per dollar spent.
• Matches all the miles you earn at the end of your first year.
• No foreign transaction fee.

If you spend a lot, get the Discover it Miles card because Discover will match the miles you earn at the end of your first year. It also doesn’t have an annual fee.

Amex EveryDay Preferred Credit Card

Like the Capital One Venture, the Amex EveryDay Preferred also has a $95 annual fee.

The Amex EveryDay Preferred offers a more valuable rewards rate.

It’s even better if you use your card at least 30 times in a billing cycle, as you get 50 percent extra points.

The main reason the Amex EveryDay Preferred is a strong competitor is the valuable airline and hotel partners.

The following are key details about the Amex EveryDay Preferred:

• $95 annual fee.
• 3 points per dollar spent on groceries (up to $6,000 per year).
• 2 points per dollar spent on gas.
• 1 point per dollar spent on everything else.
• 50 percent extra points after you use your card 30 times in a billing period.
• 2.7% foreign transaction fee.

If you want one travel rewards credit card, get the Capital One Venture.

The Amex EveryDay Preferred is a better choice if you pair it with other American Express credit cards.

Citi Premier Card 

The Citi Premier Card is a close competitor of the Capital One Venture.

Its rewards system is more rewarding, and it offers a $100 annual hotel credit when you spend $500 or more on a single stay at a hotel booked through Citi.

Another benefit of the Citi Premier Card is that you’ll get Mastercard World Elite benefits.

It includes a secondary car rental collision waiver, extended warranty, and discounts at the Luxury Hotel Collection and golf courses.

The following are key details about the Citi Premier Card:

• $95 annual fee.
• 3 points per dollar spent at restaurants, supermarkets, gas stations, air travel, and hotels.
• 1 point per dollar spent on everything else.
• $100 annual hotel credit.
• No foreign transaction fee.
• Mastercard World Elite benefits.

The Purchase Eraser makes the Capital One Venture a better card. But, the ability to transfer points to more airlines makes the Citi Premier Card better.

The better choice for you depends on what you value.

Is the Capital One Venture Miles Rewards Credit Card for you?

The Capital One Venture credit card is worth it if you want travel rewards and aren’t loyal to a hotel chain or airline.

Also, consider your spending habits, as it requires about $395 a month to offset the annual fee. Each mile is worth a penny.

The Venture card also has one of the highest sign-up bonuses.

That said, it’s the right card for you if you want a straightforward rewards system and redemption process.

If you want to transfer miles to domestic travel partners, skip the Venture card.

Related articles:

• Personal Capital review
• American Express® Gold Card review
• My Best Buy Credit Card and Visa Card review
• How a credit card balance transfer works

Featured image by David Em/More Money More Choices.