The Capital One Venture Card is widely known for its “What’s in your wallet?” campaign. This travel rewards credit card earns unlimited 2x miles on every purchase, which can be used to erase your travel purchases. It also comes with a stellar welcome bonus and lots of transfer partners.
But there are even more reasons why it belongs in your wallet. Here are 15 of my favorite Capital One Venture Card benefits.
1. Welcome Bonus of up to 100,000 Miles
Of all the Capital One Venture Card benefits, our favorite is the welcome bonus. New cardholders can earn a welcome bonus of 50,000 miles when they sign up. To receive the bonus, you have to spend at least $3,000 within the first 90 days after your account opens. These 50,000 miles are worth $500 when erasing travel purchases. Earn an additional 50,000 miles when you spend a total of $20,000 in the first 12 months.
2. Earn Unlimited 2x Miles on Every Purchase
Some rewards credit cards have caps on the points you can earn, while others require you to activate an offer or remember bonus categories. I like that the Capital One Venture Card is straightforward and simple. Every purchase earns 2x miles per dollar, no matter what, and the miles never expire as long as the account is open.
3. Earn 5x Miles With Capital One Travel
In addition to earning unlimited 2x miles on every purchase, you earn 5x miles per dollar when you book hotels and rental cars with Capital One Travel. Additional purchases made with these reservations (such as rental car upgrades and hotel meals and excursions) will not earn 5x miles.
You can also book travel using your Capital One Venture miles through Capital One Travel. This saves you the step of purchasing the travel, then erasing it later (more below on this). However, when you redeem miles this way, you won’t be earning rewards for the purchase.
4. Use Miles to “Erase” Your Travel Purchases
One of the biggest Capital One Venture Card benefits is that you can use the miles to “erase” your travel purchases. Using Capital One Venture miles is pretty simple, too. Just use the card to book your flights, hotels, rental cars, and other travel reservations. When the charge hits your account, you can log in and “erase” the purchase with your miles.
If you don’t have enough miles right away, you have 90 days from the transaction date to earn additional miles to erase all or some of the travel purchase.
5. Rewards Post Before the Statement Closes
Most travel rewards credit cards wait until after the statement closes before your miles and points post to your account. This can be troublesome if you need to book an award reservation right away.
Capital One Venture miles generally post within 10 days of your transaction date. In my experience, miles post almost immediately after the transactions post to your account. The good thing is that you don’t have to wait until the statement closes. This comes in handy when you want to erase past travel purchases or transfer miles to an airline or hotel transfer partner. Sometimes timing is critical because the award flight or hotel booking might not be available later.
6. Transfer Miles to 14 Airline and Hotel Partners
Since December 2018, Capital One has gradually added more and more transfer partners. There are now 14 airline and hotel transfer partners to choose from. Many transfers are 2:1.5, although some partners come in at 2:1. This means that you’re earning 1x to 1.5x partner miles and points for every dollar that you spend.
Depending on how you redeem miles and points with transfer partners, you could receive a much higher value on your rewards.
Partner and Transfer ratios:
- Accor Live Limitless
- Air Canada
- Air France KLM
- Asia Miles
- Emirates Airlines
- EVA Air
- Singapore Airlines
7. Redeem for Cash, Gift Cards, and Amazon Purchases
Although the Capital One Venture Card is advertised as a travel credit card, you can redeem your miles for cash or gift cards. Cash redemptions can be as a statement credit or you can have a check mailed to your home address. Gift cards are available from many popular merchants.
When checking out at Amazon, you can redeem your Capital One Venture miles to pay for your purchase. However, it is usually better to use your rewards credit cards to earn additional miles and points.
8. Relatively Low Annual Fee
When you sign up for a new credit card, it’s often difficult to tell whether the rewards and benefits are truly worth the annual fee. With the Capital One Venture Card, the low annual fee of $95 can easily be covered by the benefits – especially if you earn the welcome bonus the first year.
9. Up to $100 Reimbursement for Global Entry or TSA Precheck
One of the frustrating things about traveling is waiting in security lines at the airport. TSA Precheck and Global Entry help you skip the lines at security and customer service while avoiding intrusive inspections you’d normally endure. The Capital One Venture Card reimburses up to $100 in application fees every four years.
If you already have one of these memberships from another card, you can use this one to pay the application fees for your spouse, children, family, or friends instead. It doesn’t matter who you are registering – you’ll be reimbursed as long as the charge hits your Venture Card.
10. No Foreign Transaction Fees
Foreign transaction fees are a hidden tax on your international purchases. Some banks charge up to 3% on every purchase that you make with their credit cards. You’ll only see the fees when you open your statement at the end of the month. Even then, sometimes the fees are baked into the transaction amount shown on your statement.
The Capital One Venture Card does not charge foreign transaction fees. This benefit can save you big money on your purchases during an international vacation.
11. Travel Protections
Cardholders receive several protections while traveling and using their credit card. Rental cars are protected from damage or theft with an auto rental collision damage waiver. You’ll also automatically receive travel insurance that protects you against a covered loss when you purchase your airfare with this card.
If your card is lost or stolen while traveling, you can get an emergency replacement of the card and a cash advance, if needed.
12. Extended Warranty on Eligible Purchases
When you buy eligible items, the manufacturer’s warranty is extended for up to one year at no charge. Eligible warranties must be at three years or less in length. Some purchases are automatically covered, while others require registration. You can save money by saying no to extended warranties at the checkout counter, knowing you’ll get an extra year of coverage as a Capital One Venture benefit.
13. Exclusive Events and Experiences for Cardholders
Capital One sponsors exclusive events, pre-sales, and discounts only available to cardholders. These include premier culinary experiences, must-see concerts, and big-time sporting events. Examples include tickets and passes to the iHeartCountry Festival in Austin, Texas; Taste America by the James Beard Foundation; and events at the Capital One Arena in D.C.
In some cases, these are exclusive events for Capital One Venture cardholders. For other events, cardholders receive exclusive pre-sale access to buy tickets or receive discounts and special recognition upon arrival. In the past, cardholder experiences included tickets to the Capital One Orange Bowl in Miami, Florida; the College Football National Championship in New Orleans, Louisiana; and the Food Network & Cooking Channel South Beach Food & Wine Fest.
14. Virtual Credit Card Numbers
Shopping online can be a dangerous thing. It has become so commonplace to give websites our credit card information that we forget where our payment information is available. Website hacks and data breaches remind us how easy it is for someone else to get that personal information.
Virtual credit card numbers are a way to minimize your exposure to fraud and unwanted charges. Capital One offers Eno, a shopping assistant that helps track and protect your shopping. Eno instantly creates virtual credit card numbers that protect your real credit card information. Virtual credit card numbers can only be used at the merchant you selected, so hackers cannot use that card number anywhere else.
Eno also provides other benefits, such as monitoring your purchases for unapproved charges, tracking your spending, sending you fraud alerts, and answering questions about your account. You can access Eno through the Capital One app, your browser, text messages, email, and smartwatch.
15. Card Lock Through the Capital One Mobile App
Not knowing where your credit card is can be a scary thing. Did you simply misplace it, or did it get stolen? You might find it once you’ve calmed down, or someone could be trying to make fraudulent purchases as you consider your options.
If you can’t find your Capital One Venture card, use the Capital One mobile app to lock your card instantly. This will prevent fraudulent charges and give you peace of mind. Once your card is found, you can flip the switch and turn the card lock off.
In case you forget about the card lock feature, rest assured that there is $0 fraud liability for unauthorized purchases in case your credit card is lost or stolen. Contact Capital One as soon as you realize that it is lost or stolen so that the bank can stop the old card and send you a new one. You might have to review your transaction history to identify any charges that you don’t recognize.
Capital One Venture Card Benefits: Final Thoughts
It is easy to focus on just the rewards a credit card can earn and the welcome bonus you’ll receive. But when you do that, you’re missing out on many of the other benefits credit cards offer. The Capital One Venture Card is no exception.
The Venture Card has no foreign transaction fees and provides travel and purchase protections. It offers reimbursement for TSA Precheck or Global Entry every four years. Plus, you can now redeem your miles for even more value with 10+ travel loyalty program partners.
What’s your favorite way to use the Capital One Venture Card? Let us know in the comments below!