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Capital One has a strong lineup of travel credit cards but the Capital One VentureOne Rewards Credit Card stands out from the rest because of its zero annual fees and generous welcome offers. It’s the perfect card for the not-so-heavy spenders and average income-earners. But let’s break down all the details in this Capital One VentureOne Card review first so you can decide for yourself if the card is the right one for you!
Capital One VentureOne Rewards Benefits & Key Features
Here are the card’s key features:
- Earn a 20,000 miles welcome bonus after spending $500 in the first 3 months from account opening
- The 20k bonus is worth $200 worth of travel if you redeem it directly with Capital One
- Earn unlimited and non-expiring 1.25x miles all your daily purchases
- Earn 5X miles on hotels and rental cars booked through Capital One Travel
- No transaction fees
- Zero annual fees
- No black out dates when redeeming your Capital One miles
- Use your miles to get reimbursed for any travel purchase – or redeem by booking a trip through Capital One Travel
- 0% Intro APR on purchases and balance transfers for the first 15 months
- Transfer your miles to more than 15 Capital One transfer partners
Read More: Thinking Of Cancelling Your Capital One Venture Card? Don’t!
Earning Miles On Your Capital One VentureOne Card
New cardholders will earn a solid 1.25x miles on all purchases they make. While it might be lower than the standard 1.5x miles earning rate from most no-annual-fee cards, the Capital One VentureOne card benefits pack a strong punch along with a solid 20,000 welcome bonus.
For example, Chase Freedom Unlimited earns 1.5x miles and the Wells Fargo Active Cash Card earns 2% back but both of them only have a welcome bonus of $200. Some no-annual-fee cards don’t even have a bonus offer such as the Citi Double Cash Card and the U.S. Bank Visa Platinum Card.
The good thing about the Capital One VentureOne Card and other flat-rate cards is that you don’t have to worry about rotating categories. Rotating categories do have higher earning rates but the categories change on a quarterly basis so you’d probably end up making untimely purchases.
One of the Capital One VentureOne card’s strong selling points is that is has zero annual and foreign transaction fees. Annual fees can cost up to $600 while foreign transaction fees can cost up to 3.5% per transaction.
Cardholders will also benefit from the card’s 0% intro APR for 12 months. It’s perfect for people who want to make big purchases and save on hefty interest fees.
Redeeming Your Capital One Miles
Redeeming your miles as statement credits for gift cards, travel expenses, and online purchases on Amazon or PayPal is the easiest way to put your miles to good use. Every mile you redeem is worth 1 cent which means that you’re 20,000 welcome bonus is instantly worth $200 cash.
However, you can also take a different route and move your miles to 19 Capital One transfer partners which is a mix of both airline and hotel loyalty programs. You can redeem your miles at a 1:1 ratio for ten transfer partners and this allows you to fully maximize your redemptions.
However, some partners are still at the 2:1.5 or 2:1 ratio which means that you’re earning about .9375 or .625 cents for every 1.25 miles earned on your Capital One VentureOne Card. Here are the card’s transfer partners and conversion ratios:
1:1 Conversion Ratio
- Aeromexico Clube Premier
- Avianca LifeMiles
- Air Canada Aeroplan
- Air France-KLM Flying Blue
- British Airways
- Cathay Pacific Asia Miles
- Choice Privileges
- Emirates Skywards
- Etihad Guest
- Finnair Plus
- Qantas Frequent Flyer
- Singapore Airlines KrisFlyer
- TAP Air Portugal Miles&Go
- Turkish Airlines Miles&Smiles
- Wyndham Rewards
2:1.5 Conversion Ratio
- EVA Infinity MileageLands
2:1 Conversion Ratio
- ALL Accor Live Limitless
Other Card Benefits
Capital One cardholders can benefit from CreditWise which is an app that allows you to monitor your credit score for FREE. It’s available on both the App Store and Google Play.
The card also comes with other basic travel and purchase benefits such as:
- 24-hours travel assistance services,
- Trip cancellation insurance
- Auto rental collision damage waiver
- Travel accident insurance
- Roadside assistance
- Purchase protection
- Extended warranty protection
Who Can Benefit From The Capital One VentureOne Card?
The card has zero annual fees, zero foreign transaction fees, and has a 0% intro APR for 12 months which makes it a great beginner card for small-time spenders, casual flyers, and those who prefer simplicity over maximum miles redemption value.
However, if you spend a lot on travel purchases and reach about $15,000 or more per year, you’re better off getting the Capital One Venture Rewards Credit card. It does come with a $95 annual fee but you’ll earn 2x more for every dollar you spend.
The Capital One VentureOne Card’s strong advantage is not its earning rates but rather its 20,000 welcome bonus. However, if you’re more of a long-term decision-maker and prefer higher earning rates, you’re better off with the Chase Freedom Unlimited, Discover It Miles or the Wells Fargo Active Cash Card. All three cards have zero annual fees too.
Chase Freedom Unlimited
The Chase Freedom Unlimited earns an unlimited 1.5% on all purchases. It’s perfect for beginners because it doesn’t have annual fees and also comes with a decent $200 after spending $500 on purchases within 3 months of account opening.
The card also has other earning categories:
- 5% cashback from grocery store purchases on up to $12,000 in the first calendar year (Target and Walmart purchases not included)
- 5% on travel purchases made through Chase Ultimate Rewards
- 3% on dining and drugstores.
Your points won’t expire as long as your account is open. What’s great about the Chase Freedom Unlimited is that you can convert the cash back you’ve earned to Ultimate Rewards points at a 1:1 ratio. It’s a great secondary card that can help you mop up those points from grocery (5%) and drugstore purchases (3%) that would’ve only yielded 1x on your Chase Sapphire Reserve or Chase Sapphire Preferred Cards.
Discover It miles
The Discover It Miles is a simple flat-rate card that lets you earn 1.5x miles on all purchases which you can use to redeem for cash or as a statement credit for travel purchases.
The card’s main selling point is its Discover Match feature which allows cardholders to double the points they’ve earned at the end of each year. Let’s say you’ve earned 60,000 miles for one whole year, then Discover will give you another 60,000 miles at the end of the year so you have 120,000 miles in total.
Wells Fargo Active Cash Card
The Wells Fargo Active Cash Card earns 2% on all purchases and comes with a $200 welcome bonus after spending $1,000 within three months of account opening.
Apart from that, cardholders will also enjoy a 0% intro APR for 15 months on both purchases and eligible balance transfers. If you’re looking to consolidate your loans or make big purchases for one whole year, this is the card for you.
The Capital One VentureOne card is best known for its simplicity. If you’re new to points and miles, this is a great card to start earning miles and practice transferring them to multiple loyalty programs.
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