Modern Frock | Capital One VentureOne Credit Card Review: Simplicity and Flexibility Built Into a Single Card

Capital One VentureOne Credit Card Review: Simplicity and Flexibility Built Into a Single Card

INSIDER SECRET: Instead of redeeming your Capital One Venture miles against a travel-related purchase, you can get even more value by transferring your miles to their airline partners.

If you’re looking for a simple travel rewards credit card that also carries some flexibility in terms of your redemption options, you should consider the Capital One® VentureOne® Rewards Credit Card. The card carries no annual fee, and you can earn a welcome bonus of 20,000 Venture miles after you spend $1,000 on purchases within the first three months from account opening.

That’s worth at least $200 in travel, and can be redeemed for pretty much any travel-related purchase such as airfare and hotels. But you also have some flexibility in your redemption options because you can also transfer your miles to any of over a dozen Capital One transfer partners.

With the Capital One VentureOne credit card, you’ll earn 1.25 Venture miles per dollar spent on all purchases, so you won’t have to worry about rotating bonus categories.

Here’s our full Capital One VentureOne credit card review.

Find out how to combine simplicity and travel in our Capital One VentureOne credit card review. (Photo by timsnz/Shutterstock)

Capital One VentureOne Credit Card Review: Simple Yet Flexible Rewards

Apply here: Capital One VentureOne Rewards Credit Card

Simplicity is the name of the game built into the Capital One VentureOne credit card. With it, you’ll also have the opportunity to jump start your balance of Venture miles by earning a welcome bonus of 20,000 miles after you spend $1,000 on purchases within the first three months of account opening. That’s worth at least $200 in travel and can be redeemed toward any travel-related purchase.

You’ll also get the following as a card member:

No annual fee
Earn 1.25x Capital One Venture miles per dollar you spend on all purchases
10x miles per dollar on hotels when booked and paid through hotel.com/venture through January 2020
No foreign transaction fees

Now although Venture miles are worth 1 cent each toward travel purchases, you can squeeze more value out of them by transferring the miles to any of the Capital One transfer partners for potentially more value.

With the flexibility to transfer your Venture miles to a number of airlines, you could soon be relaxing on a flight without paying cash for your ticket. (Photo by Leonard Zhukovsky/Shutterstock)

How to Redeem Venture Miles

You can use Capital One miles in a few ways, including:

Redeem miles for a statement credit to offset the cost of a travel purchase made in the last 90 days
Move miles to Capital One transfer partners, including JetBlue, Qantas and Singapore Airlines

To redeem for a statement credit, you can make any travel purchase as you normally would. Then, within 90 days of that purchase, you can login to your Capital One account, and simply “erase” it with your miles.

Travel purchases can include any number of things, including airfare, hotels, trains, buses, taxis and much more.

You can also transfer your miles to any of Capital One’s travel partners, of which you’ll currently have 15 options. Points will transfer to most partners at a ratio of 2:1.5. The exceptions are Emirates, JetBlue and Singapore Airlines, where your miles would transfer at a ratio of 2:1.

Here are Capital One’s transfer partners:

Here’s more about the best ways to use Capital One Venture miles.

Capital One VentureOne Credit Card Benefits

Earn 10 Venture Miles per Dollar at Hotels.com

The ability to earn a rewards rate of 10% is ridiculously awesome, and that’s exactly what you can earn on the Capital One VentureOne Rewards Credit Card on hotels.com bookings. Through January 31, 2020, you can earn 10 Venture miles per dollar you spend on hotel stays booked and paid for with your card through this Hotels.com link.

If you have any upcoming travel plans, consider booking through hotels.com. You can also stack this perk with their loyalty program that allows you to earn a free night for every 10 nights you collect (based on the average cost of the 10 nights).

Through January 31, 2020, you can earn 10 Venture miles per dollar spent at hotels.com when you book through a special link. (Photo by Sorhis/Shutterstock)

Extended Warranty

Sometimes the things we buy break down every now and then, but the Capital One VentureOne Rewards Credit Card has you covered as it offers extended warranty protection to protect your eligible purchases even after the original manufacturer’s warranty has expired. So next time you can forgo that additional expense of a separate third-party warranty.

Travel Accident Insurance

A lot of us think that our health insurance covers us should we get injured or fall ill overseas, and need treatment at a hospital or other medical facility. And while many insurance policies do provide coverage internationally, the coverage amounts may not always be the same.

But if you purchased airfare with your Capital One VentureOne Rewards Credit Card, you’ll have the benefit of additional travel accident insurance with your card. So if you ever find yourself in a situation where your personal health insurance policy limits are insufficient, the card’s travel accident insurance could end up saving you from having to pay out of pocket.

Auto Rental Collision Damage Waiver

The Capital One VentureOne Rewards credit card offers secondary rental car insurance. This means that coverage is in excess of anything your primary rental car insurance pays out.

Again, hopefully you’ll never have to use this benefit, but it could end up being very useful if your primary car insurance coverage limits aren’t enough to pay for certain damages. When it comes to cars, the dollar amount of repairs can add up very quickly, so this could end up saving you a lot of money.

The dollar amount for damages to a car can add up very quickly. Don’t find yourself running out of coverage on your primary car insurance policy, and take advantage of the Capital One VentureOne card’s secondary rental car insurance. (Photo by tommaso79/Shutterstock)

Is the Capital One VentureOne Card Worth the Annual Fee?

The Capital One VentureOne Rewards Credit Card has no annual fee, so it’s definitely worth adding to your wallet. And considering you can earn an intro bonus of 20,000 bonus miles (worth at least $200) after you spend $1,000 on purchases within three months of account opening, you’ll come out a winner from day one.

Does the Capital One VentureOne Charge Foreign Transaction Fees?

No.

Who Is Eligible for the Capital One VentureOne Card?

To give you a sense of your chances of being approved for the Capital One VentureOne Rewards Credit Card, you’ll need to meet Capital One’s definition of excellent credit.

You’ll want to make sure your credit report has no bankruptcies, defaults, or late payments past 60 days.

Keep in mind though that these are just general guidelines, and there’s no guarantee of being approved even if you meet all of the criteria. That’s because the bank may look at additional factors from your credit card application.

Also, Capital One won’t approve more than one application (personal or business) every six months, and you’re limited to a total of two personal Capital One cards at a time.

Similar Cards to the Capital One VentureOne Rewards Card

Apply Here: Capital One Venture Rewards Credit Card

Read our review of the Capital One Venture

The Capital One Venture Rewards credit card is the bigger brother version of the VentureOne card. Although it does carry an annual fee of $95, it’s waived for the first year.

The card also carries a more valuable welcome bonus. You can earn 50,000 Venture miles (worth $500 in travel) once you spend $3,000 on purchases within the first three months from account opening. You’ll also have the following perks:

2 Venture miles per dollar you spend on all purchases
Statement credit for Global Entry or TSA PreCheck
10x Venture miles on hotels when booked and paid through hotels.com/venture through January 2020
No foreign transaction fees

In summary, the card offers a stronger earning rate for your purchases, a statement credit of up to $100 for Global Entry or TSA PreCheck, and a more valuable welcome bonus – all of which can more than offset the card’s $95 annual fee.

Bottom Line

If you meet Capital One’s definition of excellent credit, you’ll have a great chance of being approved for the Capital One VentureOne Rewards Credit Card. Because the card carries no annual fee, it won’t cost you anything to hang onto for the long run.

Plus, you can pretty much automatically come out ahead from day one because you can earn an intro bonus of 20,000 Capital One Venture miles after you spend $1,000 on purchases within the first three months from account opening.

That’s worth $200 when you redeem for any travel-related purchases you’ve made in the past 90 days, but you also have the flexibility of transferring to any of the Capital One transfer partners for potentially even more value.

You can apply for the Capital One VentureOne Credit Card here.

To learn more about Capital One miles, check out our guides: