7 reasons to get the Capital One Venture Rewards card

Oct 8, 2021

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Editor’s note: This post has been updated with new information.

The world of points, miles and credit cards can be complex, full of potentially confusing terms and unfamiliar abbreviations. That’s why a card such as the Capital One Venture Rewards Credit Card is such a precious commodity:

  • The simplicity it offers to redeem miles toward travel purchases at a flat 1 cent each can be a much-needed breath of fresh air.
  • Its valuable airline and hotel transfer partners are perfect for those who are more advanced in the hobby.

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With the many ways to use your card’s rewards, booking free travel can be as complicated or effortless as you make it. Here are seven reasons why the Capital One Venture is one of the best rewards credit cards to have in your wallet.

In This Post

Strong sign-up bonus

(Photo by Wyatt Smith/The Points Guy)

The Capital One Venture card offers a sign-up bonus of 60,000 miles after spending $3,000 on the card within the first three months of account opening.

If you plan to transfer your miles to hotel or airline partners, this sign-up bonus is worth around $1,110, according to our monthly valuations (not provided by issuers), since we peg Capital One miles at 1.85 cents apiece. Of course, it’s possible to get even more value from them depending on which transfer partners you leverage and which awards you book.

Great for everyday spending

Many other credit cards offer bonus points on common purchase categories such as groceries, gas or restaurants. But what about purchases that don’t fall under this umbrella, such as online shopping, gym memberships or kitchen appliances?

The Capital One Venture earns an uncapped 2 miles per dollar on every purchase. That’s a 3.7% return on every dollar, per TPG valuations.

Redeem to offset travel purchases

Transfer your Venture miles and book a room at the Costa Blu Beach Resort, Trademark Collection by Wyndham. (Photo courtesy of Wyndham Rewards)

The Capital One Venture allows you to redeem your miles at a fixed value toward travel charges. This means you can effectively “erase” eligible travel purchases made in the last 90 days by redeeming your miles at a rate of 1 cent each.

There’s no minimum redemption amount, either (unless you don’t have enough miles to cover the entire purchase — then the minimum is 2,500 miles). Let’s say you book a domestic award ticket and pay the $5.60 in taxes with your card. You can use 560 miles — as each mile is worth 1 cent — to cover this small purchase.

Transfer to airline and hotel partners

You can squeeze more value out of your Capital One miles by transferring them to any of the following airlines or hotels:

  • Accor Live Limitless
  • Aeromexico Club Premier
  • Air Canada Aeroplan
  • Air France-KLM Flying Blue
  • Avianca LifeMiles
  • British Airways Avios
  • Cathay Pacific Asia Miles
  • Choice Privileges (coming later in 2021)
  • Emirates Skywards
  • Etihad Guest
  • EVA Infinity MileageLands
  • Finnair Plus
  • Qantas Frequent Flyer
  • Singapore KrisFlyer
  • TAP Air Portugal Miles&Go
  • Turkish Airlines Miles&Smiles
  • Wyndham Rewards

Capital One offers one of the most diverse transferrable points programs around. You have airlines covering all three major alliances and several non-alliance airlines, such as Etihad and Emirates. Some of these options (like Finnair) are unique to Capital One.

You also have great variety within the programs themselves. For example:

  • Cathay Pacific and Qantas use distance-based award charts, which are generally better for short flights.
  • Avianca uses zone-based award charts and is good for booking cheap premium-cabin Star Alliance awards.
  • Air France and KLM use variable pricing instead of firm award charts. It’s possible to find great deals, but also to find horrendous deals.

Related: To transfer or not to transfer: What to do with Capital One miles

Capital one continues to improve its transfer ratios

The Capital One miles program has come a long, long way since it was first introduced. It’s gone from a total beginner’s currency to one of the best tools in the points and miles enthusiast’s utility belt.

A recent step they’ve made is improving the transfer ratio of several transfer partners — some of which are their most valuable. Capital One miles will now transfer to these 15 partners at a 1:1 ratio:

  • Aeromexico Club Premier
  • Air Canada Aeroplan (was 2:1.5)
  • Air France-KLM Flying Blue (was 2:1.5)
  • Avianca LifeMiles
  • British Airways Avios (was 2:1.5)
  • Cathay Pacific Asia Miles
  • Choice Privileges (coming later in 2021)
  • Emirates Skywards (was 2:1)
  • Etihad Guest
  • Finnair Plus
  • Qantas Frequent Flyer
  • Singapore KrisFlyer (was 2:1)
  • TAP Air Portugal Miles&Go
  • Turkish Airlines Miles&Smiles (was 2:1.5)
  • Wyndham Rewards

That just leaves the following partners out of the loop:

  • Accor Live Limitless (2:1)
  • EVA Infinity MileageLands (2:1.5)

The ability to earn a flat 2 miles per dollar for this long list of partners is very impressive. And don’t forget, you can convert Capital One cash back into miles if you also have a Capital One miles-earning card. For example, you can turn the cash back you earn with the Capital One Savor Cash Rewards Credit Card into miles if you’ve also got the Capital One Venture.

The information for the Capital One Savor 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.

Valuable ongoing perks

Although the Capital One Venture card isn’t actively competing with benefits provided by ultra-premium cards such as the Chase Sapphire Reserve or The Platinum Card® from American Express, it does offer some modest perks:

*These benefits are only available to accounts approved for the Visa Signature card. Terms Apply.

Low annual fee

The Capital One Venture card only charges a $95 annual fee — a low cost for such a potentially valuable card. It’s easy to offset the annual fee’s price between the easy-to-use earning structure, redemption process, an improved transfer program, and perks.

Bottom line

The Capital One Venture Rewards Credit Card is a great hybrid credit card that’s a strong candidate for an all-in-one card if you don’t want a wallet full of options.

You can keep things simple and flexible by redeeming your miles for the travel purchases you put on the card. Or, if you decide to study award charts and look for sweet spots, you’ll have lots of airline and hotel programs to choose from in the Capital One transfer partner lineup. Capital One has vastly improved its transfer ratios of late to some of its most popular airline partners. That’s one reason why the Venture card is a favorite of The Points Guy himself, Brian Kelly.

Official application link: Capital One Venture Rewards Card available for 60,000 bonus miles.

Additional reporting by Stella Shon and Joseph Hostetler.

Featured photo by Eric Helgas/The Points Guy.

Delta SkyMiles® Platinum American Express Card

Earn 90,000 bonus miles and 10,000 Medallion® Qualification Miles (MQMs) after you spend $3,000 in purchases on your new card in the first three months of card membership. Offer ends 11/10/2021.

With Status Boost™, earn 10,000 Medallion Qualification Miles (MQMs) after you spend $25,000 in purchases on your Card in a calendar year, up to two times per year getting you closer to Medallion Status. Earn 3X Miles on Delta purchases and purchases made directly with hotels, 2X Miles at restaurants and at U.S. supermarkets and earn 1X Mile on all other eligible purchases. Terms Apply.

Apply Now
More Things to Know
  • Limited Time Offer: Earn 90,000 Bonus Miles and 10,000 Medallion® Qualification Miles (MQMs) after you spend $3,000 in purchases on your new Card in your first 3 months. Offer expires 11/10/2021.
  • Earn up to 20,000 Medallion® Qualification Miles (MQMs) with Status Boost® per year. After you spend $25,000 in purchases on your Card in a calendar year, you can earn 10,000 MQMs two times per year, getting you closer to Medallion® Status. MQMs are used to determine Medallion® Status and are different than miles you earn toward flights.
  • Earn 3X Miles on Delta purchases and purchases made directly with hotels.
  • Earn 2X Miles at restaurants worldwide, including takeout and delivery and at U.S. supermarkets.
  • Earn 1X Miles on all other eligible purchases.
  • Receive a Domestic Main Cabin round-trip companion certificate each year upon renewal of your Card. *Payment of the government imposed taxes and fees of no more than $75 for roundtrip domestic flights (for itineraries with up to four flight segments) is required. Baggage charges and other restrictions apply. See terms and conditions for details.
  • Enjoy your first checked bag free on Delta flights.
  • Fee Credit for Global Entry or TSA Pre✓®.
  • Enjoy an exclusive rate of $39 per person per visit to enter the Delta Sky Club® for you and up to two guests when traveling on a Delta flight.
  • No Foreign Transaction Fees.
  • $250 Annual Fee.
  • Terms Apply.
  • See Rates & Fees
Regular APR
15.74%-24.74% Variable
Annual Fee
Balance Transfer Fee
Recommended Credit
Terms and restrictions apply. See rates & fees.

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.