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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. (It stills takes a lot of context clues for even me to tell when “MR” means Amex Membership Rewards or Marriott Rewards.) So that’s why a card like the Capital One Venture Rewards Credit Card can be welcome for a much needed breath of fresh air and simplicity.
Capital One uses fixed-value miles which can be redeemed against the cost of almost any travel expenses charged to the card, no matter what airline serves your hometown or what hotel chain you prefer to stay at. Add in an excellent earning rate and a unique bonus category, and the Venture Rewards has become a card you might just find some great uses for. Here are 6 reasons that when Capital One asks “what’s in your wallet?” the answer may very well be the Venture Rewards card.
1. Sign-Up Bonus
The first thing to look at when picking a new credit card is the sign-up bonus. Currently the Capital One Venture Rewards offers 50,000 miles after spending $3,000 in the first 3 months. Capital One miles are worth a fixed 1 cent each, so your bonus is good for $500 in free travel. Miles don’t expire as long as your account stays open, so you can burn your miles on a cheap cash ticket to Vietnam or save up for a pricier redemption. Just remember you’ll always be getting the same 1 cent per mile when you redeem.
2. Earn 2x Miles on Everything
Even once you meet the spending requirement for your sign-up bonus, it’s worth continuing to spend on the Venture card, especially when it comes to 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 stable and consistent 2% return and makes the Venture card one of the best options for everyday spending. There’s just one exception where you won’t earn 2 miles per dollar, but you won’t be complaining about it, because…
3. 10x Miles at Hotels.com
Fixed-value points let you be a “free agent” instead of staying loyal to a single airline or hotel, so it’s fitting that instead of transfer partners, Capital One partnered up with Hotels.com to reward their cardholders. When you book your stay at hotels.com/Venture and pay with your Venture card, you’ll earn 10 miles for every dollar. 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 nice combined 20% return when you go to book your summer vacation.
4. 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 which eligible travel purchases made in the last 90 days that you want to use your miles for. Unlike other 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. Remember that since you’re locked into a 1 cent per mile redemption rate, there’s no reason to hold onto your miles instead of getting money back in your pocket quickly.
5. Free First Year and No Foreign Transaction Fees
The fixed-value Venture Rewards strategy may be perfect for you…. and it may not be. There’s only one way to know for sure, and thankfully, you can try out the card fee-free for your first year while you earn and redeem your sign-up bonus, and then decide if the card’s regular $95 annual fee fits into your long-term points and miles strategy in the second and subsequent years. As an added bonus, you won’t pay foreign transaction fees with this card when traveling or making overseas purchases, so you can bring it along as an extra travel companion.
While 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 manufacturers 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 also be reimbursed for replacements or repairs up to $500 per claim and $50,000 per cardholder.
And as an added bonus, Capital One announced in June the addition of a $100 Global Entry or $85 TSA PreCheck fee rebate to the Venture Rewards. The new perk is available every four years for both new and existing cardholders, and if you already have Global Entry or TSA PreCheck personally, you can use this rebate for a friend or family member’s application fee instead.
The Capital One Venture Rewards Credit Card offers an attractive and easy to use alternative to transferable point currencies. You won’t be able to score some of the high-value premium cabin redemptions that transferable points can unlock, but you’ll always earn a steady 2% and you’ll never have to worry about finding award space. While the Venture Rewards has always been an attractive option, the recent addition of a 10x return at Hotels.com makes the card more compelling now than it’s ever been before, so consider whether one or more of these reasons make it a good fit for your travel needs and goals.
New! Earn unlimited 10x miles on hotel stays booked and paid through hotels.com/venture. Pair that with the Hotels.com Rewards program and you'll essentially be getting 20% off of hotel bookings! With the 50,000 mile sign-up bonus you'll be getting the equivalent of $500 and you'll have the flexibility to redeem those miles on any purchase for airfare, hotel stays, car rentals and more.
- 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. Plus earn 10X miles on thousands of hotels; learn more at hotels.com/venture
- Named ‘The Best Travel Card' by CNBC, 2018
- Receive up to $100 application fee credit for Global Entry or TSA Pre✓®
- Fly any airline, stay at any hotel, anytime; no blackout dates
- Miles won't expire for the life of the account and there's no limit to how many you can earn
- No foreign transaction fees
- $0 intro annual fee for the first year; $95 after that