Capital One VentureOne Review: Unlimited 1.25x Miles and More

The Capital One VentureOne Rewards Credit Card's competitive rewards rate makes it a good card for modest spenders and for travelers who want to stick to their preferred travel booking methods to find cheap deals, versus redeeming points through an issuers portal. In this Capital One VentureOne Rewards Credit Card review, we’ll look at the pros and cons of this travel card’s many features.

This credit card is a good fit for: Cardholders who want to earn travel rewards but avoid an annual fee. Those who need extra time to pay for a big purchase can also benefit from this card's introductory 0% APR offer on both new purchases and balance transfers.

Top perks

20,000 Miles welcome bonus

New cardholders can reap this welcome bonus after spending $500 on purchases within 3 months of account opening.

1.25 miles per $1

Earn unlimited 1.25X miles on every purchase, every day. Earn 5X miles on hotels and rental cars booked through Capital One Travel, where you'll get Capital One's best prices on thousands of trip options. You can also earn an unlimited 5 miles for every $1 you spend on hotels and rental cars booked through Capital One Travel.

No annual fee

This is a great no annual fee card. That's particularly appealing, given the rather full set of features with this card.

0% intro APR for 15 months for purchases and balance transfers

New purchases and balance transfers qualify for a 0% intro APR for 15 months. Note, there is a balance transfer fee of 3% for the first 15 months; 4% at a promotional APR that Capital One may offer you at any other time.

No foreign transaction fee

It's still fairly common for issuers to levy a foreign transaction fee, which tends to hover around 3%. Though that may not sound high, it can add up to substantial outlay if you spend generously abroad.

Flexibility with miles redemption

Many travel cards require their holders to redeem rewards for travel by booking through a proprietary portal. Though you can earn extra points by booking through Capital One Travel, you can also use your card for purchases and use your points to get a statement credit that helps erase purchases.

What could be improved

Longer 0% APRs are available elsewhere

A balance transfer offer is rare in this category, but if you’re seeking a 0% intro offer to pay down credit card debt, other cards offer longer promotional periods. While the Capital One VentureOne Rewards Credit Card offers 0% intro on balance transfers for 15 months (Balance Transfer Fee Applies), best balance transfer credit cards offer up to 21 months with 0% APR. Also, keep in mind that there’s a 3% balance transfer fee. (See rates and fees.)

Not good for frequent travelers

If you book travel frequently using your credit card, better offers are available elsewhere. It may be worth paying an annual fee to get a higher welcome bonus and better redemption rate.

You should have a FICO® Score of at least 670 to apply for this card; ideally, aim for a score in the 700s. Of course, credit score descriptors are subjective. Fortunately, the issuer provides some guidance. Capital One says that those with excellent credit:

• Have owned a credit card with a limit above $5,000 for at least three years, or managed a loan at the same level and duration.
• Have not defaulted on a loan.
• Have not declared bankruptcy.
• Never paid a credit card statement, medical bill, or loan over 60 days past due.

The Capital One VentureOne Rewards Credit Card is one of the better all-around cards targeting the sweet spot between cardholders on a budget and free spenders. It earns miles at a slightly higher clip than many of its flat-rate rewards peers and isn't burdened by an annual fee (which these days can run into the hundreds, even thousands, of dollars).

Travelers are particularly well served by using the card, with a host of breaks including the $0 foreign transaction fee. What makes this card a strong contender is that the non-traveler can also benefit from the well-stocked feature set.

As such, the Capital One VentureOne Rewards Credit Card is an appropriate card for those who want plenty of perks on their plastic, but who don't want to shell out an annual fee for the privilege. It's also suitable for those who aren't eager to navigate their rewards program's various rules, time-limited bonuses, and redemption limits, preferring a more low-maintenance experience.

Read more: Best Credit Cards

Our credit card methodology

At The Motley Fool Ascent, we rate credit cards on a five-star scale (1 = poor, 5 = best). Our rating criteria includes rewards rates, welcome bonuses, fees, and perks like travel credits and 0% intro APR offers to evaluate our ratings.

We combine these factors with an evaluation of brand reputation and customer satisfaction to ensure you're getting the best card recommendations. Learn more about how The Ascent rates credit cards.