5 reasons to get the Capital One Venture Rewards card
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Editor’s note: This post has been updated with current card details. The information for the Capital One® Venture® Rewards Credit Card has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.
The world of points and miles can be complex, full of unfamiliar terms, 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 much-needed breath of fresh air and simplicity. While the Venture Rewards card can be a great first step into the high-value world of transferable points, you also have the option to just use the purchase eraser feature and redeem your miles against the cost of most travel expenses charged to the card.
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Or, if you enjoy the thrill of finding and booking a high-value premium-cabin award, the Venture Rewards card also offers the ability to transfer your miles to 13 airline and hotel partners. With a 2:1.5 transfer ratio for 11 partners and a 2:1 ratio for the other two, you can think of the Venture Rewards card as earning 2% cash back toward travel or 1-1.5 partner miles per dollar, whichever gives you more value. Perhaps the best part is that you can mix and match these redemption options as you see fit, giving you a valuable amount of flexibility.
With the addition of two hotel transfer partners and an improved transfer ratio for JetBlue and additional temporary redemption options, there are more great ways than ever to use your Venture Rewards card. Here are five reasons why the Venture Rewards card is one of the best rewards credit cards to have in your wallet.
Related reading: The best Capital One credit cards of 2020
Strong sign-up bonus
The Capital One Venture card is offering 50,000 miles after spending $3,000 in the first three months. The miles are worth 1 cent each if redeemed directly for the cost of travel, so your bonus is guaranteed to be worth at least $500.
If you transfer the miles to a partner airline or hotel instead, your 50,000-mile bonus will be worth 25,000 to 37,500 miles depending on which transfer partner you use. TPG’s valuations peg the value of Venture miles at 1.4 cents apiece, so you can also think of this sign-up bonus as being worth $700 (based on TPG’s valuation and not provided by the issuer) if you plan to transfer your miles to hotel or airline partners, though of course it’s possible to get much more value depending on which partners you leverage.
Related reading: Capital One Venture Rewards Credit Card with a 50,000-mile bonus
Earn at least 2x miles on everything
Once you meet the spending requirement to earn the sign-up bonus, you’ll primarily want to use the Capital One Venture card for purchases that don’t earn a bonus on any other card. This is because 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 1-1.5x airline miles or hotel points per dollar spent, which makes the Venture card one of the best options for everyday spending.
Plus, you’ll earn 5 miles per dollar for hotel and car rental purchases made through Capital One Travel using your Venture Rewards card account. This means you can earn a return of 5% or 2.5-3.75x airline miles or hotel points per dollar spent on these purchases.
Related reading: Capital One Venture Rewards credit card review
Easy to redeem
The simplicity of the Capital One Venture card really shines through in its redemption process. To redeem your miles at a fixed value, simply log onto your Venture Rewards account and choose eligible purchases made in the last 90 days that you can erase using your miles. Unlike 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. This means that if you choose to use the purchase eraser option there’s no incentive to save up your miles either. You can cash them out as fast as you earn them (assuming you have eligible purchases to erase), and get that money back in your bank account faster.
- Accor Live Limitless (2:1)
- 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
- JetBlue TrueBlue
- Qantas Frequent Flyer
- Singapore KrisFlyer (2:1)
- Wyndham Rewards
Some of these options, such as Air France/KLM, are also transfer partners for 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), along with several non-alliance airlines such as 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.
The best thing about the Venture Rewards card was always the flexibility it offered and that hasn’t gone away. The addition of transfer partners didn’t replace old redemption options. Instead, the addition of transfer partners supplements the previous options and makes your Venture miles more flexible and valuable in the process.
Related reading: To transfer or not to transfer: What to do with Capital One miles
Low annual fee and no foreign transaction fees
The Capital One Venture card only charges a $95 annual fee. And while that fee is no longer waived the first year, it’s still a low cost point for such a potentially valuable card. It’s easy to offset the cost of the annual fee between the easy-to-use earning structure, redemption process and perks. As an added bonus, you won’t pay foreign transaction fees with the Capital One Venture when making purchases overseas.
Although the Capital One Venture card can’t compete (and isn’t trying to) with ultra-premium cards such as the Chase Sapphire Reserve or The Platinum Card® from American Express, the card offers a modest number of perks. These perks include secondary car rental insurance, travel accident insurance and extended warranty protection.
The Venture Rewards card also offers an up to $100 Global Entry credit or $85 TSA PreCheck fee rebate when you charge the application fee to your card. The perk is available every four years. 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. This makes the Venture one of the only cards with an annual fee under $100 to offer this perk, and is a nice addition.
The Capital One Venture Rewards Credit Card is a great hybrid, with miles that can be redeemed for a fixed value or transferred to get you potentially greater value with airline and hotel partners.
The more effort you put into your points hobby, the more you’ll get out of it in return. But the Venture Rewards card doesn’t force you to make a serious time commitment to redeem points unless you want to, and you can rest easy knowing that you’ll be earning a minimum of 2% back on every purchase you make with this travel credit card.
If you decide to go the simple route and use your points as a purchase eraser, the Venture card makes it easy to do with no redemption minimum. On the other hand, if you decide to study award charts and look for sweet spots, the 15 airlines and two hotels that Capital One has as Venture transfer partners will give you plenty of options for your next vacation.
Additional reporting by Katie Genter.
Featured photo by Wyatt Smith/The Points Guy.
WELCOME OFFER: 60,000 Points
TPG'S BONUS VALUATION*: $1,200
CARD HIGHLIGHTS: 2X points on all travel and dining, points transferrable to over a dozen travel partners
*Bonus value is an estimated value calculated by TPG and not the card issuer. View our latest valuations here.
- Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 toward travel when you redeem through Chase Ultimate Rewards®
- 2X points on travel and dining at restaurants worldwide & 1 point per dollar spent on all other purchases.
- Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards. For example, 60,000 points are worth $750 toward travel
- Get unlimited deliveries with a $0 delivery fee and reduced service fees on orders over $12 for a minimum of one year on qualifying food purchases with DashPass, DoorDash's subscription service. Activate by 12/31/21.
- Earn 5X points on Lyft rides through March 2022. That’s 3X points in addition to the 2X points you already earn on travel.