Link: Apply now for the Capital One VentureOne Rewards Credit Card
The Capital One VentureOne Rewards Credit Card is a popular no annual fee travel rewards credit card. I wanted to review the card in this post, and talk about whether this is a good product to consider applying for. Let’s go over some of the key features of the card, and then I’ll share my take.
In this post:
20,000 Venture bonus miles offer
The Capital One VentureOne Card has a welcome bonus of 20,000 Venture miles after spending $500 within the first three months. That’s a reasonable bonus for a no annual fee card, but suffice it to say there are more rewarding credit card bonuses out there if you’re willing to pay an annual fee.
No annual fee & no foreign transaction fees
The Capital One VentureOne Card has no annual fee and no foreign transaction fees. For those who like to avoid paying fees, this really sets the card apart. There aren’t many solid travel rewards credit cards out there that have no foreign transaction fees, so this is a great option abroad.
1.25x Venture miles on all purchases
The Capital One VentureOne Card has a straightforward rewards structure, and offers a flat 1.25x Venture miles on all purchases. Capital One miles can be redeemed in a variety of ways, including for one cent each toward the cost of a travel purchase, or they can be transferred at a 1:1 ratio to a variety of airline and hotel partners.
Personally I value Capital One miles at 1.7 cents each, so by my math the card offers a ~2.125% return on spending.
Should you apply for the Capital One VentureOne Card?
There are three versions of the Capital One Venture Card, so is the Capital One VentureOne Card the right card for you?
If you look at the card individually, it has some things going for it. It’s rare to have a no annual fee card that has no foreign transaction fees and earns more than one transferable mile per dollar spent. Furthermore, the card has an excellent bonus for a no annual fee card.
So if (for whatever reason) you’re absolutely committed to not paying an annual fee and want a “one size fits all” travel rewards card, this should probably be it.
It’s also worth comparing this card to the other cards in the Venture lineup. I think there’s a case to be made for applying for the $95 annual fee Capital One Venture Rewards Credit Card (review) instead. Why? Most significantly:
- The card has a welcome bonus of 75,000 Venture miles, which is nearly 4x as big of a bonus
- The card offers 2x Venture miles per dollar spent, rather than 1.25x Venture miles; that makes this one of the best cards for everyday spending
- Generally speaking it’s possible to downgrade a credit card if you’ve had it for a year and decide you don’t want it; so you could apply for the better card with the bigger bonus, and then down the road it should be possible to downgrade it to the no annual fee version, giving you the best of both worlds
Personally I think the best play is to apply for the Capital One Venture X Rewards Credit Card (review). Now, the card has a $395 annual fee, so I think a lot of people otherwise considering a no annual fee card would be put off by that price point.
But let me just say that the card offers endless perks, like a $300 annual travel credit, 10,000 anniversary bonus miles, a Priority Pass membership, access to Capital One Lounges, access to Plaza Premium Lounges, primary rental car coverage, cell phone protection, and incredible authorized user perks. This is the premium card with the annual fee that’s easiest to justify, in my opinion.
Bottom line
The Capital One VentureOne Card is a solid no annual fee card that offers a decent bonus of 20K Venture miles, has no foreign transaction fees, and offers 1.25x transferable miles on all purchases. While that’s a well-rounded card, I think the much better play is to consider the Capital One Venture Card. The card has a much bigger welcome bonus, a better rewards structure, and more perks.
Do any OMAAT readers have the no annual fee Capital One VentureOne Card, and if so, what has your experience been?
For Capital One products listed on this page, some of the above benefits are provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply.
I'm currently 19 years old and I have been following your blog for over 7 years. Ever since I was a little kid, I have always wanted to travel, and caught the travel bug on my trips as a kid to see family in South Asia. I will be enrolling in college this following semester and I would love to travel throughout the world (and try premium products, as well as new experiences) while being...
I'm currently 19 years old and I have been following your blog for over 7 years. Ever since I was a little kid, I have always wanted to travel, and caught the travel bug on my trips as a kid to see family in South Asia. I will be enrolling in college this following semester and I would love to travel throughout the world (and try premium products, as well as new experiences) while being a college student. I am currently looking to apply for my first credit card. I can use them responsibly, so which card would be best for me? Do you have any reccomendations? I was looking at this card and the Capital One Savour One card. I'm open to other banks as well. I currently have 2 Amex accounts open (gold and platinum as an AU), so I have some credit history. Thanks for your help!
Focus on your biggest spending categories. If it's rent for the apartment, bilt gives you some cash back. Otherwise, Chase Freedom Unlimited or Citi Double cash. If you spend at least $300 a year on travel, Venture X is also a good option.