Credit Card Review: The Capital One VentureOne Rewards Card

Aug 16, 2019

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The $95-a-year Capital One Venture Rewards Credit Card has been on the radar of many award travelers since it added airline transfer partners and launched a partnership that allows cardholders to earn 10x miles on Hotels.com bookings via Hotels.com/venture (ends Jan. 31, 2020). However, that wasn’t the only Venture card to get this boost. The no-annual-fee Capital One VentureOne Rewards Credit Card offers the same great redemption options and earning potential at Hotels.com. Continue reading to see if the budget-friendly VentureOne is right for you.

In This Post

Who Is This Card For?

It used to be that Venture cards were for those who want to keep things simple since there were no transfer partners or bonus spending categories. Not anymore. Although the cards are still good for people who like simplicity, they’re now also strong contenders if you want to diversify your rewards and if you spend a lot at Hotels.com.

The VentureOne is ideal for those who want to get the 10x return on Hotels.com, but can’t stomach the idea of paying an annual fee. You should also pick the VentureOne over the standard Venture card if you plan to spend less than $12,667 on everyday purchases per year. The biggest difference between the cards is the earning rates on everyday purchases and that’s how much you need to spend to essentially earn back the Venture’s $95 annual fee. 

(Image by Eric Helgas / The Points Guy)

Welcome Bonus

The Capital One VentureOne comes with a sign-up bonus of 20,000 miles after you spend $1,000 in purchases within the first three months after opening your account. Based on TPG valuations, which peg Capital One Venture miles at 1.4 apiece, this welcome bonus is worth $280. That’s a lot less than the standard Venture card’s bonus, but it’s still more valuable than what most other no-annual-fee cards are offering. Additionally, the spending requirement for this bonus is a lot less than for the Venture’s.

Earning

The VentureOne earning scheme is practically identical to the $95-a-year card, but with a slightly lower return on everyday spending. Through January 2020, you’ll earn 10 miles for every dollar spent on hotels booked and paid via Hotels.com/Venture. That alone is a terrific 14% rebate based on our valuation of Venture miles, but it gets even better. Hotels.com has a rewards program that gives you a free night for every 10 nights you stay. The free night is worth the average price of the 10 paid nights so you’re essentially getting an additional 10% back. Stack the VentureOne’s 10x miles bonus with the effective 10% back from the Hotels.com Rewards program and you’re effectively walking away with 24% back on hotel purchases. That’s one of the best, if not the best, bonuses on hotel spending on any credit card in the market today. Note that you typically won’t be able to earn elite credits when booking via an online travel agency like Hotels.com. Then, for all other purchases, you’ll earn a flat 1.25 miles per dollar, which equates to a solid 1.75% return, but isn’t the best return for everyday spending.

(Photo by Javier Rodriguez / The Points Guy)
(Photo of the Park Hyatt Sanya by Javier Rodriguez / The Points Guy)

Redeeming

There’s an easy way to redeem Venture miles and a slightly more advanced, yet much more rewarding way to redeem them. The straightforward option is to redeem your miles using the Purchase Eraser redemption option. This allows you to sign into your Venture Rewards online account and redeem them for a flat 1 cent apiece for a statement credit against eligible travel purchase you’ve made with the card in the last 90 days. This includes many travel expenses that traditional miles won’t cover, such as Uber rides and Airbnb stays. There are no award charts or blackout dates and no minimum redemption amount is required. So, by taking this route, your 20,000-mile bonus would be worth $200 toward travel.

To get around $280 in value from your welcome bonus, you’re going to need to maximize Capital One’s transfer partners. Capital One has 15 airline partners you could transfer your miles to, including Avianca LifeMilesEtihad Guest and JetBlue TrueBlue. Transfers for most partners are at a 2:1.5 ratio, so you’re essentially earning 7.5 airline miles per dollar spent at Hotels.com/venture and .9375 airline miles per dollar spent on everything else. But, as is the case with American Express Membership Rewards, Chase Ultimate Rewards and Citi ThankYou Reward, Capital One routinely offers transfer bonuses like a 25% bonus when transferring to Avianca LifeMiles and a 100% bonus when transferring to Emirates Skywards.

Now, I know I said that this redemption option is slightly more advanced — and it is — but it’s actually not as bad as it sounds. We have plenty of guides that will teach you how to best redeem your miles using transfer partners:

Transfer your miles to Avianca Lifemiles to fly Brussels Airlines business class for cheap. (Photo by Zach Griff / The Points Guy)

Main Benefits and Perks

The VentureOne card comes with the standard suite of Visa Signature travel and shopping benefits including:

  • Travel Accident Insurance — Get up to $250,000 in coverage for common carrier accidental death or dismemberment when you pay for your entire travel fare  with your card
  • Lost Luggage Reimbursement — Get up to $3,000 per trip if your bags are lost or stolen during a trip paid for with your card
  • Purchase Security — Coverage of up to $500 per item in the event of theft or damage to an eligible item charged to the card within the first 90 days of purchase
  • Extended Warranty — Double the manufacturer’s warranty up to one extra year for warranties of three years or less, with a maximum of $10,000 per claim and $50,000 per cardholder

In addition to these Visa Signature perks, the VentureOne is among the few no-fee cards to not charge foreign transaction fees, making it great option to use outside of the US. With a Capital One card, you’ll also get cardholder-exclusive perks like access to a limited-edition Taylor Swift album bundle and special access to the James Beard Foundation’s 2019-2020 Taste America series.

Get special access to concerts and other events with your VentureOne card. (Photo by Jun Sato/TAS18/Getty Images)

Which Cards Compete With the Capital One VentureOne Card?

It probably goes without saying that the closest card to the VentureOne is the standard Capital One Venture Rewards Credit Card. Here’s a quick table that compares these cards side-by-side:

Benefit Capital One Venture Rewards Credit Card Capital One VentureOne Rewards Credit Card
Welcome Bonus Earn 50,000 bonus miles once you spend $3,000 on purchases within the first three months from account opening Earn 20,000 bonus miles once you spend $1,000 on purchases within the first three months from account opening
Earning rates 10 miles per dollar spent at Hotels.com; 2 miles per dollar spent on every purchase 10 miles per dollar spent at Hotels.com; 1.25 miles per dollar spent on every purchase
Redemption Redeem your miles at a fixed-rate of 1 cent apiece toward travel or transfer them to Capital One’s airline partners. Redeem your miles at a fixed-rate of 1 cent apiece toward travel or transfer them to Capital One’s airline partners.
Additional Perks Up to $100 credit for Global Entry or TSA PreCheck enrollment fees; Visa Signature benefits like purchase security and lost luggage reimbursement; no foreign transaction fees Visa Signature benefits like purchase security and lost luggage reimbursement; no foreign transaction fees
Annual Fee $95 (waived for the first year) $0

Aside from the annual fee and welcome bonus, the biggest difference between these cards is the earning rate on everyday spending and the $100 Global Entry/TSA PreCheck application-fee credit. As previously mentioned, you need to spend $12,667 on everyday purchases each year to justify the standard Venture’s $95 annual fee.

There are also several no-annual-fee cards that compete with the VentureOne. For instance, there’s the Citi® Double Cash Card, which earns 2% cash back on every purchase — 1% when you make the purchase, and then another 1% when you pay it off. Or, if it’s transferable points you’re after, there’s also the Amex EveryDay Card from American Express that earns up to 1.2 American Express Membership Rewards points per dollar on everyday purchases — 1x point per dollar plus a 20% points bonus when you use your card 20 or more times in a month — and  2x points on the first $6,000 you spend at US supermarkets each year (then 1x). However, there’s no no-fee card that compares to the VentureOne when it comes to return on hotel spending.

Bottom Line

The Capital One VentureOne Rewards Credit Card is a very strong contender if you want to boost your return on hotel spending and aren’t loyal to a particular chain. There aren’t many no-annual-fee cards with the ability to transfer points directly to travel partners so it’s nice that this card offers that. This card also beats other no-fee cards when it comes to perks like purchase protection and no foreign transaction fees.

Featured image by Eric Helgas / The Points Guy.

Capital One® VentureOne® Rewards Credit Card

 

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More Things to Know
  • $0 annual fee and no foreign transaction fees
  • Earn a bonus of 20,000 miles once you spend $1,000 on purchases within 3 months from account opening, equal to $200 in travel
  • Earn 1.25X miles on every purchase, every day
  • Travel when you want with no blackout dates and fly any airline, stay at any hotel, anytime
  • Miles won't expire for the life of the account and there's no limit to how many you can earn
  • Transfer your miles to over 12 leading travel loyalty programs
  • Enjoy 0% intro APR on purchases for 12 months; 13.74% - 23.74% variable APR after that
Intro APR on Purchases
0% intro on purchases for 12 months
Regular APR
13.74% - 23.74% (Variable)
Annual Fee
$0
Balance Transfer Fee
$0
Recommended Credit
Excellent, Good

Editorial Disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

Disclaimer: The responses below 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.