If you want to earn credit card rewards that you can save toward a free flight, you generally have to choose between earning airline miles and getting cash back. With the Capital One® Venture® Rewards Credit Card, you get the best of both worlds.
For years, the Capital One Venture Card has been considered one of the best credit cards for travel. It remains popular with travelers because it earns an unlimited 2x miles on every purchase, there are no bonus categories to memorize, and miles earned can be used to pay for travel expenses. Plus, as of December 2018, Capital One now offers airline transfer partners so you have more choices for how you can redeem your rewards.
You can also book your flights, hotels, rental cars, and more with no blackout dates using the Capital One Venture Card. The miles earned from all of your purchases post within days of your purchase, and you have 90 days from the date of the transaction to earn additional rewards to “erase” the travel purchase.
Currently, Capital One is offering 50,000 bonus miles to new cardholders after spending $3,000 within the first three months. The 50,000 miles are worth $500 in travel or potentially even more when transferring to one of their 15 airline transfer partners.
We’ll explore why the Capital One Venture card is a great travel rewards credit card to have in your wallet. Let’s get started!
Capital One® Venture® Rewards Credit Card Highlights
There is a lot of value packed into the Capital One Venture Card. Here are some of the reasons you should consider applying for it.
You’ll earn 50,000 miles after spending $3,000 within three months. These miles are valued at $500 when used to erase your travel purchases. Or, you can transfer them to an airline partner to book a flight.
Earn Miles on Spending
Purchases with the Capital One Venture Rewards Card earn 2x miles, no matter how you’re spending your money. I like that you don’t have to remember bonus categories or register for quarterly promotions
15 Airline Transfer Partners
Capital One took the Venture Card to another level with the addition of airline transfer partners. Now cardholders have options when it comes to redeeming their miles – including JetBlue, Singapore Airlines, Air Canada Aeroplan, and Emirates.
Capital One offers limited-time transfer bonus promotions on a regular basis, so you can get extra miles when transferring to participating airlines.
For example, transfers to Qantas received a 33 percent bonus through October 31, 2019. That means you’d have received 1,000 Qantas miles instead of 750 when transferring 1,000 Capital One Venture Miles.
Global Entry or TSA Precheck Reimbursement
The Capital One Venture card is one of the few rewards credit cards that offer this benefit while having an annual fee of less than $100. When charging your application fee for Global Entry or TSA Precheck to this credit card, you will be reimbursed once every four years.
Capital One offers many protections and benefits while you travel. Simply book your flight, hotel, or rental car using your Venture Card to enjoy these benefits. For example, there are no foreign transaction fees, there’s an auto-rental collision damage waiver, and you can get travel accident insurance.
The annual fee of $95 is waived the first year. So there’s no downside to trying the card before you’re charged an annual fee.
Capital One Venture Rewards Card: Where It Shines
If your goal is to travel for less, then the Capital One Venture Card can be an excellent addition to your wallet.
The welcome bonus of 50,000 miles is a great way to kick off your vacation planning. Those miles are worth $500 in travel purchases — possibly more when transferring to an airline partner.
You’ll earn an unlimited 2x miles on all of your purchases. You can then use those miles to erase travel purchases or transfer to airline partners. When you take advantage of bonus transfer opportunities, you’ll get even more value out of your rewards.
Plus, your trip to the airport is made easier through reimbursement of Global Entry or TSA Precheck application fees. Both programs help you skip the long lines at security, and Global Entry makes going through customs on the way back from an international vacation a breeze.
When making purchases outside of the United States, you won’t be charged foreign transaction fees. Avoiding this 3 percent hidden fee on your transactions is a real money saver. Plus, complimentary travel protections like secondary rental car insurance, travel accident insurance, and 24-hour travel assistance services provide peace of mind.
Tips for Getting the Most from Your Card
To get the most from your Capital One Venture Card, you’ll want to use it for everyday purchases. Instead of settling for 1x points from your hotel and airline credit cards, earn 2x miles from the Venture Card. With the transfer ratios to airline partners, you’re earning up to 1.5 airline miles per dollar spent with this credit card.
Whenever you aren’t using airline miles or hotel points to book your travel accommodations, pay with the Venture Card. You can erase those purchases with the unlimited 2x miles you earned from them. Capital One gives you 90 days after the purchase to earn enough miles to erase the purchase. Miles post to your account within two to three days of your purchase, so you don’t have to wait for the statement to close the way you might for other rewards cards.
If you own a business, I recommend pairing the Venture Card with the Capital One® Spark® Miles for Business card. This is one of the best small business credit cards available, offering a welcome bonus of up to 200,000 miles based on your purchases. Even better, the miles can be combined with the Venture Card.
To earn the bonus miles, spend $5,000 in the first three months to earn 50,000 miles. Then spend a total of $50,000 within six months of account opening to earn another 150,000 miles. You’ll earn 2x miles on all of your purchases and the $95 annual fee is waived the first year. Learn how to apply here.
What You Might Not Like
For all of the card’s positives, there are a few things you might not like about it.
- Annual Fee: Although the annual fee is waived the first year, you will be charged $95 annually starting the second year. You’ll need to spend $4,750 per year on this card just to break even on the annual fee. If you aren’t spending enough on the credit card, you may be better off with a cash back credit card that has no annual fee.
- Uncommon Transfer Partners: Competing credit cards like the Chase Sapphire Reserve have more common airline transfer partners than Capital One does. There is a lot of value to be found with Capital One’s airline transfer partners, but cardholders who are just learning the ropes may find these international carriers’ loyalty programs more difficult to navigate than more common U.S. airlines when attempting to book free flights using miles.
- Unknown Approval Rules: Although we may not like rules like Chase 5/24, at least we know those rules exist and how to navigate them. Getting approved for a Capital One card can be challenging sometimes. I’ve had a solid work history and great credit for years, but was only recently approved for the Capital One Venture after multiple tries.
Alternatives to the Capital One Venture Card
If you want similar benefits to the Capital One Venture Card, there are other options. My pick is the Chase Sapphire Preferred Card.
Much like Capital One, Chase allows you to transfer your points to over a dozen travel loyalty programs at a 1:1 ratio. Even better, you’ll earn a 60,000 point signup bonus after spending $4,000 on the card in the first three months. That’s worth $750 in free travel when you use the Chase Ultimate Rewards portal to book.
Other Chase Sapphire Preferred benefits include earning 2x points on travel and dining expenses worldwide, no foreign transaction fees, and a host of other travel protections. There is a $95 annual fee, but if you’re looking for a great alternative to the Capital One Venture, this card is it.
Capital One Venture Card Review: Wrapping Up
I still use my Chase Sapphire Reserve for dining and my American Express Hilton Ascend for grocery purchases to maximize their bonus categories. But when I’m paying everyday bills like doctor co-pays, day-care tuition, and oil changes, the Venture Card is my first choice.
The unlimited 2x points are better for everyday purchases than all of my airline and hotel co-branded credit cards. Plus, I love the flexibility of choosing between erasing travel purchases and transferring to airline partners.
New cardholders get the chance to receive a $500 signup bonus and can try the Venture Card out for one year before being charged an annual fee. I think you’ll enjoy the benefits and flexibility of your rewards.
Capital One® Venture® Rewards Credit Card Review
- Signup Bonus
- Point Value
- Rewards Flexibility
- Earning on Spending
- Loyalty Partners
- Annual Fee
Capital One® Venture® Rewards Credit Card Review
If you’re looking for a travel credit card that offers a huge welcome bonus and flexible miles, look no further than the Capital One Venture Rewards Credit Card. You’ll earn 50,000 bonus miles after spending $3,000 in the first three months. That’s good for $500 in free travel when taken as a statement credit.
Additionally, the card earns an unlimited 2x miles on all purchases. Plus, there’s no annual fee for the first year, so it doesn’t hurt to try it out.
So, if you’re in the market for a good travel credit card, the Capital One Venture Rewards Card definitely deserves your consideration. In fact, we think it is one of the best travel cards on the market. Learn how to apply here.