The Venture Card is one of the most popular travel rewards credit cards out there, and for good reason. If you’re looking for a card that offers flexible, easy to use, and valuable rewards, then this card is an excellent option.
This card is now better than ever before, and there has never been a better time to pick up this card. Why? The Venture Card has an improved new sign-up bonus, and the value of Capital One miles also recently increased. Let’s talk about what you need to know.
Capital One Venture Card Benefits
In this post I wanted to provide a detailed review of the Capital One Venture Rewards Credit 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 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: Up To 100,000 Venture Miles
The Capital One Venture Card has a phenomenal new limited-time welcome bonus of up to 100,000 bonus Venture miles:
- Earn 50,000 Venture bonus miles after spending $3,000 within the first three months
- Earn a total of 100,000 Venture bonus miles after spending $20,000 within the first 12 months
The Venture Card ordinarily earns 2x Venture miles per dollar spent, which is on top of the bonus. That means:
- When you spend $3,000 within three months you’ll earn a total of 56,000 Venture miles, which is ~18.67x Venture miles per dollar spent
- When you spend $20,000 within 12 months you’ll earn a total of 140,000 Venture miles, which is 7x Venture miles per dollar spent
- To look at it differently, you’re earning an incremental 84,000 Venture miles for the incremental $17,000 in spending, which is an incremental ~5x Venture miles per dollar spent
Personally I value Capital One miles at 1.3 cents each, so to me the 100,000 bonus Venture miles are worth $1,300.
Venture Card Annual Fee
The Capital One Venture Card has a $95 annual fee. There is no cost to add authorized users to the card.
The introductory bonus should get you at least $1,000 worth of travel (and you can potentially get way more value than that), 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 10+ years, 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. Based on my valuation of Capital One miles, this is the equivalent of 2.6% return on everyday spending, which is incredible.
I love how straightforward this card’s rewards structure is, and also find this to be one of the most rewarding cards for everyday spending. 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 for a limited time at that rate towards other purchases), or can be transferred to one of Capital One’s 18 airline and hotel partners, at a ratio of up to 1:1.
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
Redeem Venture Miles Towards Dining & More (Temporary)
Many people don’t place value on travel rewards at the moment, so Capital One has added some flexible redemption options. Through June 30, 2021, Capital One will let you redeem Venture miles towards eligible restaurant delivery, takeout, and streaming service purchases.
You can use them the same way you’d redeem them to offset the cost of travel purchases. This is an awesome feature that gives cardmembers a lot of flexibility.
Convert Venture Miles Into Airline Or Hotel Points
As an alternative, you can transfer Capital One Venture miles to airline miles and hotel points. Currently, Capital One has the following 18 airline and hotel partners:
|Aeromexico Club Premier||Accor Live Limitless (ALL)|
|Air Canada Aeroplan||Wyndham Rewards|
|Air France/KLM Flying Blue|
|British Airways Executive Club|
|Cathay Pacific Asia Miles|
|EVA Air Infinity MileageLands|
|Qantas Frequent Flyer|
|Singapore Airlines KrisFlyer|
|Turkish Airlines Miles&Smiles|
Capital One miles transfer to airline partners at a ratio of anywhere from 2:1 to 1:1. You’ll obviously get the most value if you transfer Capital One miles to 1:1 partners, and there are some good airlines among those.
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 (there haven’t been many in the past year, presumably due to the pandemic).
Generally speaking, you’ll find this to be most valuable 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 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).
TSA 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 Capital One 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
Similar Alternatives To The Venture Card
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) is offering a bonus of 80,000 Ultimate Rewards points after spending $4,000 within three months, plus a one-time statement credit of up to $50 on grocery store purchases
- The Citi Premier® Card (review) is offering a bonus of 60,000 ThankYou points after spending $4,000 within three months
- The American Express® Gold Card (review) is offering a bonus of 60,000 Membership Rewards points after spending $4,000 within six months
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, offers a bonus of up to 100,000 Venture miles, and offers 2x Venture miles per dollar spent
- The VentureOne has no annual fee, offers a bonus of 20,000 Venture miles, and offers 1.25x Venture 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.
Capital One Venture Card Summary
The Capital One Venture Card is a solid travel rewards card. This is a well-rounded card that will offer you the equivalent of up to two cents towards travel, or up to two 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. This is an especially good time to apply, given the improved welcome bonus available at the moment, plus the improved value proposition of Capital One miles.