5 reasons to get the Capital One Venture Rewards card
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Editor’s note: This post has been updated with transfer partner improvements as of Feb. 3, 2020.
The world of points and miles can be complex, full of unusual 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 breath of fresh air for its simplicity. You just use the purchase eraser and redeem your miles against the cost of most travel expenses charged to the card.
Or, if you enjoy the thrill of finding and booking a high-value premium-cabin award, the Venture Rewards card now offers the ability to transfer your miles to 17 airline and hotel partners. With a 2:1.5 transfer ratio for 14 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 travel partner miles per dollar, whichever gives you more value.
With the recent addition of two hotel transfer partners and an improved transfer ratio for JetBlue (both effective Feb. 4, 2020), there are more great ways than ever to use your Venture Rewards card. Here are five reasons why the Venture Rewards card may belong in your wallet:
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 or hotel 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’s 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 or hotel points (with most partners) and makes the Venture card one of the best options for everyday spending.
Easy to redeem
The simplicity of the Venture Rewards card really shines through in its redemption process. To redeem your miles, simply log onto your Venture Rewards account and choose eligible travel purchases made in the last 90 days that you 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.
To squeeze more value out of your points, transfer them to any of the following airlines or hotels, at a 2:1.5 rate unless otherwise noted:
- 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
- Hainan Fortune Wings Club
- JetBlue TrueBlue
- Qantas Frequent Flyer
- Qatar Airways Privilege Club
- 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), 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 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. 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.
No annual fee for the first year and no foreign transaction fees
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 for subsequent years. As an added bonus, you won’t pay foreign transaction fees with the Capital One Venture when making purchases overseas.
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. It 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 receive 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.
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. The Venture card, one of our top credit cards, 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.
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.
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.
- 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