5 reasons to get the Capital One Venture Rewards card

Mar 22, 2020

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

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.

The information for the Venture 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.          

(Photo by Isabelle Raphael / The Points Guy)
(Photo by Isabelle Raphael/The Points Guy)

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 toward travel or 1-1.5 travel partner miles per dollar, whichever gives you more value.

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With the recent addition of two hotel transfer partners and an improved transfer ratio for JetBlue, 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.

In This Post

Sign-up bonus

(Photo by Eric Helgas/The Points Guy)
(Photo by Eric Helgas/The Points Guy)

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 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.

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 travel 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.

(Photo by Isabelle Raphael)
(Photo by Isabelle Raphael/The Points Guy)

To squeeze more value out of your points, you can 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
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 with Qantas, a Oneworld alliance partner. (Photo by Brendon Thorne/Bloomberg via Getty Images)

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.

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

No annual fee for the first year and no foreign transaction fees

The Capital One Venture card may be perfect for you … or not. There’s only one way to know for sure. You can try the card for your first year while you earn, 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.

Related reading: Why the Capital One Venture is the perfect credit card for your wedding and honeymoon

Perks

Although the Capital One Venture card 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 modest perks. These perks include secondary car rental insurance, travel accident insurance and extended warranty protection.

(Photo by Isabelle Raphael / The Points Guy)
(Photo by Isabelle Raphael/The Points Guy)

The Venture Rewards card also offers a $100 Global Entry 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.

Related reading: Starter card showdown: Chase Sapphire Preferred vs. Capital One Venture

Bottom line

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.

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.

Apply here for the Capital One Venture Rewards Credit Card

Additional reporting by Katie Genter.

Featured photo by Wyatt Smith/The Points Guy.

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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