Why the Capital One Venture Rewards credit card has a front spot in our wallets
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Editor’s note: This post has been updated with current information.
When we first added the Capital One® Venture® Rewards Credit Card to our wallet in early 2019, it was mostly about getting an elevated welcome bonus. However, what I didn’t know when we applied was that this card would quickly claim a prominent spot in my wallet and my husband’s even after the bonus miles were spent. Here’s why we are using the Capital One Venture Card more than I expected.
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Apply here for the Capital One Venture Rewards Credit Card with a bonus of up to 100,000 bonus miles when you spend $20,000 on purchases in the first 12 months from account opening, or still earn 50,000 miles if you spend $3,000 on purchases in the first 3 months of account opening.
2x is solid
My husband is never going to have lots of cards in his wallet and worry about keeping up with category bonuses for various transactions. He will, however, primarily use whichever card I indicate is best at the time. And, there are no fees for adding an authorized user to your Capital One Venture account.
When he isn’t working on hitting a spending bonus, earning 2x miles everywhere by using the Venture Card isn’t bad and is actually better than most of the cards on the market for non-bonus spending. If you maximize the miles via transfer partners, then TPG valuations say you can get 1.4 cents per mile, which equates to a 2.8% return on everyday charges made to the card. That might not be the absolute best return for everyday spending, but it is pretty darn close.
Flexible points are simply the best
I can’t quit airline miles because there are times when the outsized value they provide simply can’t be beat. But, as award charts fade a bit, flexible points are the best type to have. And it seems that the international airline programs that are in the Capital One transfer partner line-up may turn out to be the best options for booking many awards, since they largely still have traditional award charts in play.
But here’s the truth. I haven’t (yet) transferred any of our Capital One miles to partners. Maybe we will one day, as there are some great options out there. But for now, I’ve enjoyed the heck out of booking whatever travel we want and then using the miles to offset the charge with a few simple clicks of the mouse.
For example, my husband wanted to meet our family in Hawaii last summer and needed to fly on a certain date, at a certain time, on a particular route to maximize his time with us. In that situation, it was best to just buy a cash ticket and then simply reimburse ourselves with Venture miles. Since he had no flexibility, traditional airline miles provided no value, even though Hawaii can sometimes be a great deal with airline miles.
Related reading: To transfer or not to transfer: What to do with Capital One miles
The Capital One Venture Rewards Credit Card is one of my current favorite credit cards for families who travel and that recommendation isn’t just based on stats or bullet points. It’s based on the reality that this card has (somewhat unexpectedly) crept to the front of our own wallets as a way of simplifying while still maximizing earnings.
While these aren’t the reasons we are using our card, the Capital One Venture comes with other perks, such as an up to $100 Global Entry or $85 TSA PreCheck fee rebate every four years, which is handy since we have several of these fees to pay in our family. There is a $95 annual fee. Plus, no foreign transaction fees means you can continue to use the Venture card when you travel abroad. All of these add up to show why this is one of our best travel credit cards.
If you don’t yet have the Capital One Venture card, now is a great time to apply for one to to protect yourself a bit from recent devaluations and maybe even simplify your award travel strategy a bit in the process. When you’re ready to start traveling again, you’ll have a nice stash of miles redeemable for up to $1,000 worth of travel.
Apply now for the Capital One Venture Rewards Credit Card with a bonus of up to 100,000 bonus miles when you spend $20,000 on purchases in the first 12 months from account opening, or still earn 50,000 miles if you spend $3,000 on purchases in the first 3 months of account opening.
Additional reporting by Katie Genter.
Featured photo by Eden Batki/The Points Guy.
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WELCOME OFFER: 80,000 Points
TPG'S BONUS VALUATION*: $1,600
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 80,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $1,000 toward travel when you redeem through Chase Ultimate Rewards®.
- 2X points on travel and dining at restaurants worldwide, eligible delivery services, takeout and dining out & 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, 80,000 points are worth $1,000 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.