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If you sat down and thought about what your perfect credit card would consist of, what would come to mind? Probably a high signup bonus, the ability to earn double miles on all your purchases and most definitely a low annual fee. Well, this card does exist — in the form of the Capital One Venture Rewards card.
This is a truly unique credit card, which is why it’s so popular. Not only does it have a high signup bonus and give you the ability to earn more than just a single mile on purchases, it also gives you flexibility when redeeming your rewards. In this Capital One Venture Rewards review, we’ll break down the card’s features and give you a couple of great alternatives.
What Are the Capital One Venture Rewards Card Details?
Here, you’ll find more details on the Capital One rewards card. Be sure to read the card agreement for its full terms.
Signup Bonus: You will receive 50,000 miles after spending $3,000 in the first three months of account opening.
Base Rewards: You will receive 2X the miles on every single purchase that you make. Plus earn 10X miles on thousands of hotels, through January 2020; learn more at hotels.com/venture.
Ancillary Benefits: If you are planning to travel outside of the U.S., you can use your Capital One Venture Rewards card without foreign transaction fees. This card also comes with a number of MasterCard benefits, including price protection, travel protection, extended warranty and 24/7 concierge service. Cardholders also receive up to $100 application fee credit for Global Entry or TSA Pre✓®
Annual Fee: $0 intro for first year; $95 after that
APR: 15.24% - 25.24% (Variable)
The Pros and Cons of the Capital One Venture Rewards Card
If you were to speak with current Capital One Venture cardholders, you’d probably hear similar things: They love the signup bonus, earning double miles on every purchase and how flexible it is to redeem the miles they earn. Typically, travel cards have fairly limited redemption options. Co-branded airline cards are limited to just one airline and any alliance members they might have, for instance.
But the Capital One Venture card is different. You will be able to redeem your miles for any travel expense, be it airfare, hotel rooms, car rentals, cruises, or anything else Capital One codes as a travel expense. There are no blackout dates, which means you can use miles on any airplane seat or hotel room. And every 100 miles equals a $1 statement credit. That means the 50,000 mile signup bonus could be worth $500 toward your next trip.
If you want to look for any negatives with the Capital One Venture card, it would probably be that there is no way to stretch the value of a mile earned. Each mile is always going to be worth one cent each. In contrast, you could carry a co-branded airline card and the miles you earn can have different values, sometimes higher than one cent per point, and sometimes lower. The reasoning is because different flights have different cash costs even though they might cost the same number of miles. In the end, consumers like flexibility.
Our Picks for Alternatives to the Capital One Venture Card
If you’re not completely sold on the Capital One rewards card, here are a couple alternatives that can provide the same kind of flexibility.
Why We’re Mentioning It: This card is probably the most similar to the Capital One Venture card. They both have a lot of flexibility, and you can redeem 100 miles for a $1 statement credit toward any travel expense.
Barclaycard Arrival Plus® World Elite Mastercard®
- Enjoy 70,000 bonus miles after spending $5,000 on purchases in the first 90 days
- Earn unlimited 2X miles on every purchase
- Book travel your way—no airline, seat or hotel restrictions—and redeem your miles for travel statement credits
- Get 5% miles back to use toward your next redemption, every time you redeem
- No foreign transaction fees
- International Chip and PIN for use at self-service chip terminals around the world
- Miles don’t expire as long as your account is open, active and in good standing
Card Details +
Signup Bonus: You will receive 70,000 bonus miles after spending $5,000 on purchases in the first 90 days.
Base Rewards: You will earn two miles for every purchase you make.
Ancillary Benefits: There are no foreign transaction fees, which makes this card perfect if you are traveling outside of the U.S. When you go to redeem your miles, you will receive 5% back as a statement credit.
Annual Fee: $89 (waived first year)
APR: Intro: 0% for first 12 billing cycles following each balance transfer that posts to your account within 45 days of account opening, and an APR of 18.24%, 22.24% or 25.24% variable based on your creditworthiness thereafter.
BankAmericard Travel Rewards Credit Card
Why We’re Mentioning It: Like the other cards, this one also gives you the flexibility of redeeming your rewards on any travel expense, with no blackout dates.
Signup Bonus: You will receive 25,000 points after spending just $1,000 with the first 90 days. These 25,000 points are valued at $250.
Base Rewards: You will earn an unlimited 1.5 points on every purchase that you make.
Ancillary Benefits: To start, you will be able to use this card abroad without paying foreign transaction fees. In addition, your reward-earning potential will increase if you are a Bank of America banking customer. Standard customers will receive a 10% bonus on points redeemed; Preferred clients can earn a bonus of 25% to 75%.
Annual Fee: $0
APR: 0% the first 12 billing cycles, variable 16.99% to 24.99% thereafter
At publishing time, the Capital One Venture Rewards, Barclaycard Arrival Plus World Elite MasterCard and BankAmericard Travel Rewards Credit Card are offered through Credit.com product pages, and Credit.com is compensated if our users apply and ultimately sign up for these cards. However, these relationships do not result in any preferential editorial treatment.
Note: It’s important to remember that interest rates, fees and terms for credit cards, loans and other financial products frequently change. As a result, rates, fees and terms for credit cards, loans and other financial products cited in these articles may have changed since the date of publication. Please be sure to verify current rates, fees and terms with credit card issuers, banks or other financial institutions directly.
This article was last updated September 21st, 2017.