Capital One Venture® Card Review (2020 Rewards)

Filed Under: Capital One, Credit Card Reviews
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The Capital One® Venture® Rewards Credit Card is one of the most popular travel rewards credit cards out there, and for good reason.

If you’re looking for a travel rewards credit card that offers flexible, easy to use, and valuable rewards, then this card is an excellent option. In late 2018 the card got even more valuable, as Capital One added the ability to transfer Venture miles to airline programs.

Capital One Venture Card Benefits

In this post I wanted to provide a detailed review of the Venture Card, which hopefully answers any questions you may have about it.

The Venture Card has a variety of valuable benefits, including a big welcome bonus for new members, a waived annual fee the first year, a Global Entry or TSA Pre-Check credit, and much more.

Let’s take a closer look at how all of this works.

Venture Card Bonus

Earn a welcome bonus of 50,000 Venture bonus miles ($500 travel value) after spending $3,000 within the first three months of account opening with the Capital One Venture Card.

Venture Card Annual Fee

The Capital One Venture Card has a $95 annual fee, though it’s waived for the first year. There is no cost to add authorized users to the card.

The introductory bonus should get you at least $500 worth of travel, so if you want to look at it differently, the welcome bonus will get you rewards equivalent to the annual fee for a total of six+ years (first year waived fee + $95/year after that), not factoring in the rewards you earn from spending money on the card.

Venture Card Rewards Structure

The Capital One Venture Card offers unlimited 2x Venture miles. The card has no foreign transaction fees, so this card can be a great option for purchases abroad as well.

Venture miles can either be redeemed for a cent each towards the cost of a travel purchase, or can be transferred to one of Capital One’s 17 airline and hotel partners, at a ratio of up to 2:1.5.

Redeem Venture Miles Towards Travel Costs

One way to redeem Venture miles is at the rate of one cent per mile towards the cost of a travel purchase. This means you’re earning two cents per dollar spent towards travel, since the card offers unlimited 2x Venture miles.

If you want to redeem your Venture miles towards the cost of a travel purchase, the best way to do so is using the Purchase Eraser feature. With this, you can simply make an eligible travel purchase using your card, and then you can go online after the fact and use your Venture miles to pay for the purchase within 90 days of the date of purchase. Your credit will then be applied within two to three days.

Eligible travel purchases using your Venture miles include purchases made from airlines, hotels, rail lines, car rental agencies, limousine services, bus lines, cruise lines, taxi cabs, travel agents, and timeshares.

Redeem Venture miles towards all kinds of travel costs

Convert Venture Miles Into Airline or Hotel Points

For over a year now it has been possible to transfer Capital One Venture miles to airline miles and hotel points. At this point Capital One has the following 17 airline and hotel partners, with the following transfer ratios:

AirlinesHotels
Aeromexico Club PremierAccor Live Limitless (ALL)
Air Canada AeroplanWyndham Rewards
Air France/KLM Flying Blue
Alitalia MilleMiglia
Avianca LifeMiles
Cathay Pacific Asia Miles
Emirates Skywards
Etihad Guest
EVA Air Infinity MileageLands
Finnair Plus
Hainan Fortune Wings Club
JetBlue TrueBlue
Qantas Frequent Flyer
Qatar Airways Privilege Club
Singapore Airlines KrisFlyer

In addition to the normal transfer ratios, we sometimes see Capital One offer transfer bonuses, which can get you even more value for your Venture miles. For example, in 2019 we saw Capital One offer six different transfer bonuses.

Generally speaking you’ll get the most value using this option if you’re looking to fly international first or business class, since those will be the flights that are likely to be priced most reasonably with airline miles, while they could be prohibitively expensive using cash.

Transfer Venture miles to Flying Blue for redemptions in Air France business class

Venture Card Car Rental Coverage

The Venture Card offers secondary car rental coverage when renting a car and paying with the card. The coverage is secondary within the US, and primary internationally. Only rentals of 15 days within your country of residence, and 31 days outside your country of residence, are eligible.

You’ll want to check the full cardmember agreement for details.

Venture Card Purchase & Travel Protection

In addition to car rental coverage, the Venture Card offers purchase security and extended protection (coverage on items lost or stolen within 90 days), travel and emergency assistance services, and more. You’ll want to consult the cardmember agreement for full details.

Venture Card Global Entry/TSA Pre-Check Credit

The Venture Card offers a Global Entry or TSA Pre-Check credit once every four years. Just charge the $85-100 membership fee to your Capital One Venture Card, and it will automatically be reimbursed. It doesn’t matter who the fee is being paid for, as long as you charge it to your eligible card.

Why You Should Register For Global Entry Over TSA Pre-Check

If you are going to take advantage of this perk, I’d highly recommend registering for Global Entry over TSA Pre-Check. For those of you not familiar, TSA Pre-Check gets you expedited US security screening, while Global Entry gets you expedited US immigration clearance.

So why should you register for Global Entry and not Pre-Check? Because Global Entry also comes with TSA Pre-Check, while the inverse isn’t true (signing up for TSA Pre-Check doesn’t get you Global Entry).

I registered for Global Entry for the first time in mid-2011, and wrote about my experience at the time. Global Entry is valid for five years, and I renewed my membership in 2016.

TSA PreCheckTSA Pre-Check can be a huge time saver

Is The Venture Card Right For You?

There are a lot of great travel credit cards out there, so how can you decide if the Venture Card is right for you? Let’s look at the application restrictions as well as other cards to consider, including business credit cards and other personal travel rewards cards.

Venture Card Application Restrictions

The terms of the Venture Card application state the following:

Existing or previous Accountholders may not be eligible for this one-time bonus.

If you currently have this card or have had it in the past, don’t expect you’ll be able to earn the bonus again.

Then there are a few general Capital One restrictions to be aware of:

  • Capital One pulls from three credit bureaus; personally I don’t find that to be a huge deal one way or another, but it’s worth being aware of
  • You typically can’t apply for two Capital One cards the same day; the second card (even if different) will automatically be marked as a duplicate
  • You can typically be approved for at most one Capital One card every six months, regardless of whether they’re personal or business cards

Best Venture Card Business Equivalent

If you want a business card that’s similar to the Venture Card, consider the Capital One® Spark® Miles for Business (review).

The card earns 2x Spark miles per dollar spent (equivalent to Venture miles), and miles can be redeemed towards travel purchases or transferred to airline and hotel partners at the same rate. You can even pool miles across both cards.

Similar Alternatives To The Venture Card

If it’s simple cash back you’re after, then I think the no annual fee Citi® Double Cash Card (review) is a great option, though it also has no initial bonus.

If you’re looking for an extremely lucrative card that earns travel rewards, there are a few other options that are worth considering:

  • The Chase Sapphire Preferred® Card (review) has a welcome bonus of 60,000 points and offers double points on dining and travel and great travel protection; the card has a $95 annual fee
  • The Chase Sapphire Reserve® Card (review) has a welcome bonus of 50,000 points and offers triple points on dining and travel, a $300 annual travel credit, a Priority Pass membership, a Global Entry fee credit, great travel protection, and more; the card has a $550 annual fee
  • The American Express® Green Card (review) offers 3x points on dining, travel, and transit, a $100 annual CLEAR credit, and a $100 annual LoungeBuddy credit; the card has a $150 annual fee (Rates & Fees)
  • The American Express® Gold Card (review) offers 4x points at restaurants, 4x points at US supermarkets (up to $25,000 per year), and 3x points for airfare purchased directly with airlines, plus offers a $100 annual airline fee credit and up to a $120 annual dining credit; the card has a $250 annual fee (Rates & Fees)

Quick Comparison: Venture Vs. VentureOne

There are two versions of the Venture Card. In addition to the card I’ve been writing about above, there’s also the no annual fee Capital One® VentureOne® Rewards Credit Card. What’s the difference between the Venture and Venture One?

  • The Venture has a $95 annual fee that’s waived the first year, offers a bonus of 50,000 miles, and offers 2x miles per dollar spent
  • The VentureOne has no annual fee, offers a bonus of 20,000 miles, and offers 1.25 miles per dollar spent

It should be a no brainer to apply for the Venture over the VentureOne, given the much better welcome bonus as well as the better return on spending. After a year you can always decide to downgrade to the VentureOne if the Venture isn’t working for you.

See this post for a more in-depth comparison of the two cards.

Capital One Venture Card Summary

With its revamp a bit over a year ago, the Capital One Venture Card is more rewarding than ever. This is a well-rounded card that will offer you the equivalent of up to two cents towards travel, or up to 1.5 airline miles or hotel points for every dollar spent (and possibly even more if there’s a transfer bonus).

If you want a straightforward rewards card that offers a consistent return for all purchases and a lot of flexibility, then the Capital One Venture Card is a great option.

If you’re someone who spends a lot in specific categories, like dining or travel, then something like the Chase Sapphire Preferred or American Express Green Card might be a better option.

If you want to learn more about the Venture Card or apply, follow this link.

Apply Now

The following links will direct you to the rates and fees for mentioned American Express Cards. These include: American Express® Gold Card (Rates & Fees), and American Express® Green Card (Rates & Fees).

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Comments
  1. Disappointed they dropped the 10X points for Hotel.com. My AF comes up in November, not sure I’ll keep the card.

  2. We are in the biggest collapse of air travel in history and all we get on this blog is the pimping of credit cards??? FFS Ben come on and maybe offer up something that is worthwhile.

  3. Had this card, took the 75k bonus (when it was available late 2018), transferred 60k or so points to Etihad and had account suspended. Tried calling Cap1, but provided no explanations (they did not say it was due to points transfer)..just said possible fraud (may be on my part) and demanded I mail then personal info (IDs, passports, bills, etc.). They said they will mail instructions. After not hearing from them for 2 months, I called them again and was able to get account unfrozen. They explained it was due to points transfer to airline. WTF is the use of transferable currencies when they’re going to freeze your account on first transfer? Canceled card after transferring all points out of account. First&Last card with Capital-1!

  4. This is like leftover Panda Express microwaved and reheated blog content. Why would we earn 1.5 points per dollar when we could earn 2 points per dollar? (Citibank)

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