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Capital One® Venture® Rewards Credit Card Review – 2x Miles

Capital One® Venture® Rewards Credit Card Review – 2x Miles

Learn more about this card and find out how you can apply here.

Capital One® Venture® Rewards Credit Card is a popular travel rewards card with a $95 annual fee (wavied for the first year) and a very straightforward rewards system. You earn an unlimited 2 miles per dollar on every purchase, with one lucrative exception. Earned miles can be redeemed at a set rate for a range of travel purchases.

Capital One Venture Rewards is just one of many general-purpose credit cards. It’s comparable to its stablemate, Capital One VentureOne Rewards, which is a no-annual-fee version of the Venture card, but with some notable differences. It also competes with non-Capital One cards with annual fees ranging from $50 to $150, including Chase Sapphire Preferred, and British Airways Visa Signature.

You get 50,000 miles once you spend $3,000 on the card within 3 months from account opening. That’s worth $500 in travel expenses at redemption.

Capital One Venture Rewards earns an unlimited 2 miles per dollar on every purchase, with one lucrative exception: hotel bookings and other eligible purchases made through the hotels.com/venture portal earn unlimited 10 miles per dollar spent. There are no caps, categories, or restrictions.

You can redeem your accumulated rewards for travel purchases (including airfare, car rentals, other forms of ground transportation, hotel stays, and more) in 2 ways.

First, you can exchange your miles for account statement credits at a fixed value of $0.01 per point, either by manually selecting the purchase you wish to offset in your online account, or by calling Capital One’s customer service hotline and doing the same. Second, you can book travel directly through Capital One’s online travel portal and pay with miles instead of cash, again at a $0.01-per-point value.

If the item you’re redeeming for is worth more than the cash value of your miles, you can make a partial redemption (minimum 2,500 miles) and pay the balance in cash. Capital One does allow you to redeem miles for non-travel items, including cash, gift cards, and general statement credits, but values for such redemptions vary widely, are subject to change, and are often less than $0.01 per mile.

There is a $95 annual fee, but there is a $0 intro for the first year. There is no foreign transaction fee. The cash advance fee is 3% of the amount of the cash advance, but not less than $10. The balance transfer fee is $0, and the late payment fee ranges Up to $35.

Cardholders get access to Capital One’s CreditWise tool, entitling them to a free credit score with their monthly online or paper statements. The score is also accessible on demand through account dashboards. CreditWise includes other credit-building and -education tools as well.

This card comes with a nice lineup of other benefits, including 24/7 concierge service and assistance with complex travel bookings; preferred access to special events, such as concerts and sporting events; and 24/7 emergency card replacement service when traveling.

This card requires excellent credit. Any notable credit blemishes are likely to disqualify your application.

Travel rewards credit cards are frequently pigeonholed as intentionally complex, confusing, and user-unfriendly. This sweeping generalization is built around a kernel of truth: Many airline and hotel credit cards have complex redemption schemes that assign wildly variable point values depending on numerous factors, discourage participants from converting points to other rewards programs, and impose annoying restrictions such as blackout dates.

However, it’s unfair to say that all travel rewards cards are complicated, particularly when popular options like Capital One® Venture® Rewards Credit Card have increasingly come to dominate the category. With this card, you never have to worry about how much your miles are actually worth at redemption, or whether you’re even able to redeem for a given type of travel purchase. While Venture Rewards certainly isn’t the most generous travel card by any stretch, there’s something to be said for its forthrightness.

Learn more about this card and find out how you can apply here.

The Capital One® Venture® Rewards Credit Card has a straightforward, flexible rewards program that makes it ideal for frequent travelers who spend enough to offset the $95 annual fee (waived during the first year), don’t have a preferred hotel, airline, or car rental brand, and want to be able to redeem for as wide a variety of travel purchases as possible. It’s not ideal for people seeking luxurious or convenient fringe benefits, nor those willing to stick with a preferred brand or brand portfolio to get better redemption deals.

The simple and flexible rewards system, helpful credit tracking tools, eye-popping return on Hotels.com spending, and lack of a penalty APR and balance transfer fees are all great benefits.

The annual fee, limited travel benefits, fixed miles-to-dollar value on travel redemptions, incompatibility with travel hacking, and the tough qualification requirements are definite drawbacks.

Overall, this is a great card for travelers who prefer to be rewarded for all purchases and without a preferred airline brand or desire to conduct extensive research to find the best travel deals.

Editorial Note: The editorial content on this page is not provided by any bank, credit card issuer, airline, or hotel chain, and has not been reviewed, approved, or otherwise endorsed by any of these entities. Opinions expressed here are the author’s alone, not those of the bank, credit card issuer, airline, or hotel chain, and have not been reviewed, approved, or otherwise endorsed by any of these entities.

Categories: Capital One, Credit and Debt, Credit Cards, Lifestyle, Reviews, Travel

Brian Martucci writes about frugal living, entrepreneurship, and innovative ideas. When he’s not interviewing small business owners or investigating time- and money-saving strategies for Money Crashers readers, he’s probably out exploring a new trail or sampling a novel cuisine. Find him on Twitter @Brian_Martucci.

Comments Disclosure: The below responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser’s responsibility to ensure all posts and/or questions are answered.

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