Capital One® Venture Rewards® Credit Card Review
If you are looking for a travel credit card to help you earn rewards with your purchases, there are many on the market to choose from. With a generous new cardmember bonus, no foreign transaction fees and the freedom to book travel the way you want to – the Capital One® Venture Rewards® Credit Card may be worth taking a look at.
Let’s dive in to the different features the Capital One® Venture® Rewards Credit Card has to offer.
Card Details Summary:
- Enjoy a one-time bonus of 50,000 miles once you spend $3,000 on purchases within 3 months from account opening, equal to $500 in travel
- Earn unlimited 2x miles per dollar on every purchase, every day
- New! Earn unlimited 10x miles on hotels when you pay with your Venture card at hotels.com/venture
- Fly any airline, stay at any hotel, anytime
- Travel when you want with no blackout dates
- Miles won’t expire for the life of the account and there’s no limit to how many you can earn
- No foreign transaction fees
- $0 intro annual fee for the first year; $95 after that
Credit Type Needed: Applicants must have good or excellent credit –typically a credit score of 680 or higher, to be considered for approval.
Sign-up Bonus: Earn a one-time bonus of 50,000 miles after you spend $3,000 on purchases within the first 3 months of your credit card account being opened. This sign-up bonus is equal to $500 in travel. Once you meet the qualifications to receive the sign-up bonus, Capital One will apply it to your rewards balance within 2 billing cycles.
If you are an existing or previous account holder, you may not be eligible for this introductory bonus offer. Other terms and conditions may apply.
Earning Rewards: With the Venture Rewards® there are no complicated spending categories that rotate.
Earn an unlimited 10x miles on hotels – when you book your room using your Venture card at hotels.com/venture
Earn an unlimited 2 miles per dollar on all other qualifying net purchases – every day.
Net purchases are purchases less any returns or credits. Cash advances, checks, and balance transfers with your account will not earn any rewards.
Rewards Limit and Life: There is no cap to the amount of miles you can earn on purchases, there are no blackout dates, and miles are yours for the life of the account. If your account becomes closed, and you have not redeemed your rewards – they will be lost.
Rewards Transfer: Transfers of rewards are only permitted between certain Capital One® rewards accounts. If you are thinking about obtaining this credit card so you can transfer rewards between accounts, it may be best to contact Capital One® to ensure it will be a possibility.
Using Purchase Eraser® – Within 90 days from making a travel purchase– just go online to capitalone.com or call the Capital One® Rewards Center to redeem your miles and receive a credit to your account for the cost of your travel purchase. After your redemption is processed, the credit to your account is applied to your balance typically within 2-3 business days.
Booking New Travel Reservations – Go online to capitalone.com or contact the Capital One® Rewards Center to book your car rental, hotel, or airline ticket and redeem your miles to pay for travel.
The number of miles needed for travel redemption will vary and is based upon the cost of the travel purchase. Here is how it works:
Very simply multiply the cost of your travel purchase by 100. So, if your travel purchase costs $500, you would multiply that by 100 to determine that you would need 50,000 miles to redeem.
Other Redemption Options – If you prefer to redeem for an account credit, check, or gift cards – you are able to do so. Rates for account credit, check, or gift card redemption will vary – though, in most instances the redemption value is less then that for travel. Once you are an account holder, you can enroll at capitalone.com to see a complete description of current redemption offers.
Capital One® Added Benefits: There are a lot of additional benefits that come with having a credit card account with Capital One. Some of these perks include:
24/7 Customer Service: If you have a question regarding your account or need assistance, customer service representatives are able to assist you any time of the day.
Payment Features: With your Capital One® Venture® Rewards account, you can set up email or text reminders to help you stay on top of your account. You receive the added benefit of picking your monthly due date and payment method. If you so choose, you can have your payment automatically deducted every month – just set up your auto pay feature.
Capital One Mobile App: Manage your account anywhere at any time. You can view your balance, look at transactions, and even pay your bill through the app.
CreditWise® from Capital One: CreditWise® is a free service from Capital One to help you stay on top of your credit. Get alerts whenever your TransUnion® credit report changes, including recent inquiries. There is also information on the key factors that are impacting your credit score. You can either download an app or access your report through your Capital One account dashboard.
Visa Signature® Benefits: The Capital One® Venture® Rewards is more than just a credit card geared toward the avid traveler– it also comes with Visa Signature® benefits. Some of these benefits include:
Roadside Dispatch®: If you run into car trouble – whether it be locking your keys in your car or a dead battery – receive convenient towing and locksmith referral services in the U.S. and Canada 24/7.
Complimentary Concierge Service: The Visa Signature® Concierge service can help you find tickets to entertainment events, make dinner reservations, book travel, and more. Just call anytime, 24 hours a day, or visit visasignatureconcierge.com.
Emergency Card Replacement and Emergency Cash Disbursement: If something happens to your card, 24 hours a day, 7 days a week, 365 days a year – you are able to quickly and easily get a replacement Visa Signature credit card sent to you. You may also receive emergency cash at a convenient location.
Travel: Receive premium benefits at 900+ of the world’s finest properties with the Visa Signature Luxury Hotel Collection.
Shopping Discounts: Receive discounts and special offers at various premium retailers ranging from jewelry to electronics.
Fine Wine and Food: Attend dining events and complimentary wine tastings including discounts at over 60 Sonoma County wineries.*
Lost Luggage Reimbursement: When you charge your airline ticket with your eligible Visa Signature® card – your checked or carry-on luggage will be covered up to $3,000 if lost or stolen.
Rates and Fees: Just about every credit card comes with some variation of rates and fees. The Capital One® Venture Rewards® is no exception. Before applying for any credit card, it is important to read the terms and conditions to ensure you will have no surprises later on.
Introductory Rate: The Capital One® Venture® Rewards Credit Card does not come with a 0% intro APR for purchases or balance transfers at this time.
APR for Purchases and Balance Transfers: 14.24%-24.24% variable. The APR rate you will receive depends on your credit history.
APR for Cash Advances: 24.24% variable
Penalty APR: N/A
Annual Fee: $0 introductory rate for the first year, $95 annual fee thereafter
Balance Transfer Fee: None
Cash Advance Fee: Either $10 or 3% of the amount of each cash advance, whichever is greater
Foreign Transaction Fee: None
Late Payment Fee: up to $35
Our Take: While the Capital One® Venture Rewards® Credit Card does come with an annual fee after the first year; the flexible rewards structure, substantial sign-up bonus, and loads of account benefits makes this travel credit card a top contender.