6 reasons to get the Capital One Venture Rewards card

Oct 24, 2019

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The world of points and miles is nothing if not complex, full of acronyms and abbreviations that can confuse even the most experienced users. That’s why a card like the Capital One® Venture® Rewards Credit Card can be a breath of fresh air for its simplicity, if you use the purchase eraser feature and redeem your miles against the cost of most travel expenses charged to the card.

On the other hand, if you enjoy the thrill of finding and booking a high-value premium-cabin award, the Venture Rewards card offers the ability to transfer your miles to 15 airline partners. With a 2:1.5 transfer ratio for 12 partners and a 2:1 ratio for the other three, you can think of the Venture Rewards card as earning 2% cash back or 1-1.5 airline miles per dollar, whichever gives you more value.

With this recent addition on the redemption side, there are more great ways than ever to use your Venture Rewards card. Here are six reasons why the Venture Rewards card may belong in your wallet:

In This Post

Sign-up bonus

The first thing to consider when picking a new credit card is the sign-up bonus. The Venture Rewards card is offering 50,000 miles after spending $3,000 in the first three months. The miles are worth a minimum of 1 cent each, if redeemed directly for the cost of travel, so your bonus is worth at least $500. If you transfer the miles to a partner airline instead, your 50,000-mile bonus will be worth 25,000 to 37,500 miles. TPG values Venture miles at 1.4 cents apiece, so you can also think of this sign-up bonus as being worth $700 (based on TPG valuation and not provided by issuer).

Earn 2x miles on everything

Once you meet the spending requirement for your sign-up bonus, use the Venture card for purchases that don’t earn a bonus on any other card. You’ll earn 2 miles per dollar on every purchase you make with the Venture, and there are no annual limits to worry about. That translates to a consistent return of 2% back or 1.5x airline miles and makes the Venture card one of the best options for everyday spending. There’s one exception for hotel spending where you won’t earn 2 miles per dollar, but it won’t be cause for complaint.

10x miles at Hotels.com

(Photo courtesy of the JW Marriot Miami)
Book a room at the JW Marriott with your Capital One Venture Rewards card and earn 10x miles with Hotels.com. (Photo courtesy of the JW Marriott Miami.)

Fixed-value points let you be a free agent, rather than being locked into a single airline or hotel, so it’s fitting that long before it added any transfer partners, Capital One partnered with Hotels.com to reward cardholders. When you book your stay at Hotels.com/Venture and pay with your Venture card, you’ll earn 10 miles for every dollar through Jan. 31, 2020. You can even stack this bonus with the separate Hotels.com Rewards loyalty program, which offers another 10% back in the form of one free night after 10 paid nights. This adds up to a 24% return when you go to book your next vacation.

Easy to redeem

The simplicity of the Venture Rewards card really shines through in its redemption process. To redeem your miles, simply log on to your Venture Rewards online account and choose eligible travel purchases made in the last 90 days that you you can erase using your miles. Unlike with straight fixed-value cards, there’s no minimum redemption amount, so if you book a domestic award ticket, you can erase the $5.60 in taxes with just 560 miles.

To squeeze more value out of your points, transfer them to any of the following airlines, at a 2:1.5 rate unless otherwise noted:

  • Aeromexico Club Premier
  • Air Canada Aeroplan
  • Air France/KLM Flying Blue
  • Alitalia MilleMiglia
  • Avianca LifeMiles
  • Cathay Pacific Asia Miles
  • Emirates Skywards (2:1)
  • Etihad Guest
  • EVA Infinity MileageLands
  • Finnair Plus
  • Hainan Fortune Wings Club
  • JetBlue TrueBlue (2:1)
  • Qantas Frequent Flyer
  • Qatar Airways Privilege Club
  • Singapore KrisFlyer (2:1)
An Airbus SAS A380, front, and a Boeing 747 aircraft, both operated by Qantas Airways Ltd., stand at the International terminal at Sydney Airport in Sydney, Australia, on Monday, June 22, 2015. Australia
Use your Venture Rewards miles to book a flight on Oneworld alliance partner Qantas. (Photo by Brendon Thorne/Bloomberg via Getty Images.)

Some of these options, such as Air France/KLM, overlap with other transferable points currencies, but others like Finnair are entirely new. You have airlines covering all three major alliances (Qantas in Oneworld, Avianca in Star Alliance and Alitalia in SkyTeam, for example), and several nonalliance airlines like Etihad.

You also have great diversity within the programs themselves. A number of these partners, such as Cathay Pacific and Qantas, use distance-based award charts (which generally means you’re better off redeeming for short flights); some of them use zone-based award charts (like Avianca, which is a great way to book cheap premium-cabin Star Alliance awards), and others such as Air France/KLM use variable pricing, which isn’t great for actually booking travel but can sure make for a good laugh when you see them charging 300,000+ miles for a one-way ticket.

The best thing about the Venture Rewards card was always the flexibility it offered, and that hasn’t gone away. These new transfer partners aren’t replacing old redemption options. They’re supplementing them and making your Venture miles more flexible and valuable in the process.

No-annual-fee first year and no foreign transaction fees

The value of the Venture Rewards card may be perfect for you … or not. There’s only one way to know for sure. You can try the card fee-free for your first year while you earn and redeem your sign-up bonus, and then decide if the card’s $95 annual fee fits into your long-term points and miles strategy in subsequent years. As an added bonus, you won’t pay foreign transaction fees with this card when traveling or making overseas purchases.

Perks

Although the Venture Rewards can’t compete (and isn’t trying to) with ultra-premium cards like the Chase Sapphire Reserve or The Platinum Card® from American Express, the card offers a solid lineup of travel perks to enhance your trip. The Venture Rewards offers secondary car rental insurance, up to $3,000 in lost luggage reimbursement and up to $250,000 in travel accident insurance.

You can also rest easy when putting large purchases on your Venture card, as you’ll enjoy extended-warranty protection that doubles the manufacturer’s warranty up to one year for warranties of three years or less. This coverage has a cap of $10,000 per claim or $50,000 per cardholder. In the event of loss or damage within 90 days of purchase, you can be reimbursed for replacements or repairs up to $500 per claim and $50,000 per cardholder.

In June 2019, Capital One added a $100 Global Entry or $85 TSA PreCheck fee rebate to the Venture Rewards card. The perk is available every four years for both new and existing cardholders. If you already have Global Entry or TSA PreCheck, you can use this rebate for a friend’s or family member’s application fee instead.

Bottom line

The Capital One Venture Rewards Credit Card is a great hybrid, with miles that can be redeemed both for a fixed value and transferred to get you potentially greater value with airline partners.

The more effort you put into your points hobby, the more you’ll get out of it in return. The Venture card, one of our top credit cards, doesn’t force you to make a serious time commitment up front, and you can rest easy knowing that you’ll be earning a minimum of 2% back on every purchase you make.

If you decide to go the simple route and use your points as a purchase eraser, the Venture card makes it easy to do so with no redemption minimum. On the other hand, if you decide to study award charts and look for sweet spots, the 14 airlines that Capital One has added as Venture transfer partners will give you plenty of options for your next vacation.

Capital One® Venture® Rewards Credit Card

SIGN-UP BONUS: 50,000 Miles

TPG'S BONUS VALUATION*: $700

CARD HIGHLIGHTS: Miles are now transferrable to over a dozen airline partners

*Bonus value is an estimated value calculated by TPG and not the card issuer. View our latest valuations here.

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More Things to Know
  • Enjoy a one-time bonus of 50,000 miles once you spend $3,000 on purchases within 3 months from account opening, equal to $500 in travel
  • Earn 2X miles on every purchase, every day.
  • Receive up to $100 application fee credit for Global Entry or TSA Pre✓®
  • Fly any airline, stay at any hotel, anytime; no blackout dates. Plus transfer your miles to over 12 leading travel loyalty programs
  • Miles won't expire for the life of the account and there's no limit to how many you can earn
  • Named ‘The Best Travel Card' by CNBC, 2018
  • No foreign transaction fees
  • $0 intro annual fee for the first year; $95 after that
Intro APR on Purchases
N/A
Regular APR
17.49% - 24.74% (Variable)
Annual Fee
$0 intro for first year; $95 after that
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.

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