Capital One Venture Rewards Credit Card Review

Capital One Venture Rewards Credit Card
Millennial Money icon Rating 9.3 / 10
We think the Capital One Venture Rewards Credit Card is the best \"flat-rate travel\" rewards credit card on the market. With this card, you'll earn 2 miles per $1 you spend. Redeem miles for any travel on any airline or at any hotel, with no restrictions or black-out dates.
Rewards Structure9.8/10
Sign-up Bonus9.9/10
Cardmember Benefits8.9/10
Customer Service8.5/10
Pros
  • 50,000 bonus miles when you spend $3K within 3 months of account opening
  • No foriegn transaction fees
  • Double miles on every purchase
  • Simple, flexible rewards
Cons
  • $95 annual fee, waived the first year
  • No promotional APRs

The Capital One® Venture® Rewards Card is the Cadillac of Capital One credit cards.capital one venture

This sleek, weighted credit card is the leading product of the Capital One® credit card family. When it arrives in your hands, you’ll feel like you, too, have arrived.

Dramatics aside, the Capital One® Venture® Rewards Card isn’t only about infusing an air of aristocracy into your life, though it will.

With an affordable $95 annual fee, which is waived in the first year, this card comes with many practical benefits that make it an everyday commuter as much as a luxury sedan.

Starting with the 50,000 point welcome bonus when you spend $3,000 on purchases, it makes a wonderful “first” rewards card that delivers straightforward value in addition to perks reserved for the pros.

How Does the Capital One® Venture® Rewards Card Work?

Capital One Venture Rewards credit card
Not long ago, the Venture Rewards card only offered unlimited cash back on all purchases, but unlike many other elite travel rewards credit cards, it didn’t partner with airline companies, so there was no way to transfer your points to other companies’ rewards programs.

But now, you can, while still retaining those cash-back benefits – unlimited 2X miles per dollar, to be exact. That applies to every purchase, every day. Plus, through January 2020, cardmembers earn 10X miles when they book at hotels.com/venture.

Like all travel rewards credit cards, you’ll get the most value out of your Venture card when you know the ins and outs of its rewards programs.

There are three ways to get the most out of your points:

Purchase Reimbursements

The first is through simple purchase reimbursements.

Once you accumulate a balance of Venture Miles after paying off your credit card each month, use your Capital One® Venture® card to book any airfare and hotel arrangements you’d like.

Then, log in to your Capital One® account and click “Redeem Rewards.” On the next screen, you will see a list of recent travel purchases and the number of miles needed to “erase” the purchase.

To reimburse yourself with your reward miles, elect the purchases you’d like to apply your miles to, and watch your expenses be seemingly erased.

What purchases fall under the category of travel expenses? You’ll be happy to know that Capital One® is pretty generous when it comes to what should qualify for eligible travel purchases.

The category includes purchases and transactions at or through the following kinds of business establishments:

  • Airlines
  • Hotels
  • Trains
  • Car rental & limo companies
  • Bus lines
  • Cruise ships
  • Taxis and ride-shares (including Uber & Lyft)
  • Travel agencies
  • Timeshares

Purchase Travel Accommodations Through Capital One’s Online Travel Booking Portal

The second way to redeem your miles is to purchase your travel accommodations directly through Capital One’s online travel booking portal.

All you need to do is log in to your Capital One® account, click “Redeem Miles” and select the option to search for airfare or hotels. After you enter your preferred dates and locations, you’ll see the price in both dollars and reward points.

If you don’t have enough miles in your rewards balance to pay for the entire trip, you can still apply your balance to the purchase and charge the rest on your card.

Your Capital One® Venture Miles are valued at 1 cent per 1 mile, so it will take 10,000 miles to equal $100.

Transfer Miles to One of Capital One’s Travel Partners

The third way that you can redeem your miles is to transfer them to one of Capital One’s new list of travel partners.

This would make sense if you had an abundance of rewards points to pool together at one of the following travel partners, but keep in mind that most travel partners devalue Capital One® Venture® Miles at 1.5 cents per 2 points.

Taking this into consideration, here are the international airline partners for the Capital One® Venture® Card:

  • Aeromexico Club Premier
  • Air France KLM Flying Blue
  • Air Canada Aeroplan
  • Alitalia MilleMiglia
  • AsiaMiles
  • Avianca LifeMiles
  • Emirates Skywards
  • Etihad Guest
  • EVA Air InfinityMileageLands
  • Finnair Plus
  • Hainan Airlines
  • Fortune Wings Club
  • JetBlue TrueBlue
  • Qantas Frequent Flyer
  • Qatar Airways Privilege Club
  • Singapore Airlines KrisFlyer

Can I use my Capital One® Venture® Miles on Things Other than Travel?

You can use your rewards balance to buy gift cards to stores like Barnes and Noble, Amazon, Home Depot, Best Buy, and more.

But, we don’t recommend using your Venture card for gift cards because your rewards miles will be devalued. While travel purchases are redeemable at 1 cent per mile, gift card purchases are reimbursed only at the valuation of 0.8 cents per mile.

Is Capital One® Venture® Rewards Credit Card a Visa or Mastercard?

The Capital One® Venture® Rewards card is in the Visa Signature line, meaning it comes with upgraded rewards and benefits like rental car insurance, 24-hour concierge service that includes entertainment tickets and travel assistance, and access to 24-hour roadside assistance.

What is the best credit card for airline miles?

The Capital One® Venture® Card is known as one of the best travel credit cards on the market. Its straightforward rewards structure makes life easy, but there’s so much more to take advantage of for travelers who want to milk their miles for the ultimate benefit.

It’s nice to know that this card appeals to both kinds of airline travelers – the loyalists and the generalists.  It comes with the option to transfer reward miles to international partner airlines, but you don’t necessarily have to use this benefit if you don’t want to.

Airline partner reward miles are slightly devalued. So, if you are a diehard fan of one particular airline, it would be worth considering a co-branded airline credit card like the Southwest Rapid Rewards card or the Delta SkyMiles American Express Card.

Is the Capital One® Venture® One Card worth it?

Those who cringe at any kind of annual fee will be comforted to know that The Capital One® Venture® Card comes with a $100 TSA Pre-Check credit for either you or your friend that you can redeem once every four years.

International travelers save even more from the 0% international transaction fee. And whether at home or abroad, anyone will benefit from unlimited double miles on every purchase. At this rate, a card user would make up the annual fee in points with monthly spending of between $750-800.

But beyond the dollar signs, the Visa Signature peace of mind makes us believe that the annual fee is well warranted. If your health and peace of mind are important to you, you will benefit from knowing you’re covered with some of the most reliable trip cancellation or interruption insurance, fraud liability protection, extended warranty eligibility, and purchase protection for theft or damage.

David Weliver

David Weliver

David Weliver is the Credit Cards Editor at Millennial Money. He is the Founder of Money Under 30 and is widely regarded as one of the top credit card rewards experts in the world. David has been writing about personal finance and credit cards since 2006 and been featured in The New York Times, NPR, USA Today, Forbes, and many others.
David Weliver

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