Updated December 28, 2017
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. This is one reason the card landed a spot on our list of the best travel credit card sign-up bonuses and best no-annual-fee credit cards. But let’s dive deeper to understand if Capital One® VentureOne® Rewards Credit Card is a fit for your needs.
- 20,000 miles sign-up bonus
- 1.25x miles per $1
- $0 annual fee
- 0% intro APR offer
- No foreign transaction fees
- Cash-back conversion rate
|Bonus Offer||20,000 Miles once you spend $1,000 on purchases within 3 months from account opening|
Intro: 0% intro on purchases for 12 months
Reg: 13.24% - 23.24% (Variable)
|Balance Transfer APR||
Reg: 13.24% - 23.24% (Variable)
- Enjoy a one-time bonus of 20,000 miles once you spend $1,000 on purchases within 3 months from account opening, equal to $200 in travel
- Earn unlimited 1.25 miles per dollar on every purchase, every day and pay no annual fee
- Fly any airline, stay at any hotel, anytime
- Enjoy a low intro APR on purchases for 12 months; 13.24%-23.24% variable APR after that
- Travel when you want with no blackout dates
- No foreign transaction fees
- Miles won't expire for the life of the account and there's no limit to how many you can earn
What we like about Capital One® VentureOne® Rewards Credit Card
- 20,000 miles sign-up bonus – New cardholders earn a 20,000 miles sign-up bonus -- worth $200 in travel -- when spending at least $1,000 within three months of account opening. For a $0 annual-fee credit card, this is a large bonus with a low spending hurdle.
- 1.25x miles per $1 – All purchases earn at an an uncapped rate of 1.25x miles per $1. Cardholders will get the most when applying miles for travel-related statement credit redemptions at a rate at $0.01 per mile. Tally it up, and the yield for travel-statement redemptions works out to 1.25% back and spending $1,000 per month is worth $150 for travel annually.
- Travel statement credits – Redeeming miles for statement credits is a busy traveler’s best friend. Book travel with the card using your go-to portal, and then apply miles for a statement credit later. Many travelers prefer this redemption option over redeeming miles through an issuers travel portal, as is the case with some travel cards, since it allows them to scour the internet for cheap travel deals.
- $0 annual fee – The card’s sign-up bonus and rewards rate are competitive with no-annual-fee travel cards. Earning far higher rewards with other cards requires paying an annual fee and this card is, perhaps, best for cardholders with modest budgets that don’t justify paying an annual fee.
- 0% intro APR – The card’s 0% intro APR for 12 billing cycles for purchases rounds out a versatile slate of cardholder perks and allows members to defray the cost of a large purchase over that timeframe without interest charges.
- No foreign transaction fee – Pesky foreign transaction fees can quickly add up when whipping out credit cards for purchases abroad. Besides, we’re all a bit looser with our wallets while on vacation. Fortunately, Capital One® VentureOne® Rewards Credit Card nixes the typical 3% foreign transaction fee many card issuers charge. That’s a savings of $60 on $2,000 worth of international spending.
What could be improved for Capital One® VentureOne® Rewards Credit Card
- Cash-back conversion rate – Miles redeemed for cash are penalized with a low conversion value of $0.005 cents per mile, equivalent to 1% back. This low rate isn’t necessarily a knock on the card: cash redemptions tend to be low for miles and points cards in general. More than anything, it’s worth highlighting the need to choose the right credit card for an individual’s primary needs, which may simply be a cash-back credit card for some.
- 0% intro APR for balance transfers - We Fools believe in smart use of credit cards and favor 0% intro APRs for balance transfers over an intro APR for new purchases. Including both could make the card even more versatile.
How to best use Capital One® VentureOne® Rewards Credit Card
- Travel rewards cardholders will generally be better off paying off balances by the due date each month to avoid interest charges. It’s a losing strategy to rack up debt for the sake of earning rewards at single-digit rates only to watch as they get eaten up by far higher double-digit interest charges.
- The 20,000 miles bonus is one of the best perks for this card, so be sure to budget smartly so as to at least hit the $1,000 purchase threshold within the first three months. Should it be necessary, you'll also have 12 billing cycles to pay down that balance since the card includes a 0% intro APR for new purchases. But do keep an eye on the calendar. The qualification period to meet the spending requirements kicks off upon card approval, not when receiving and activating the card.
- Redeem miles for travel-related statement credits to increase your yield. Converting to cash won't get your money working for you as well as redeeming for travel. Consider our picks for the best cash-back credit cards if claiming cash rewards is your primary goal.
Capital One® VentureOne® vs. Capital One® Venture® Rewards. Which Is best?
Capital One fans might also be considering VentureOne® ’s sister credit card, Capital One® Venture® Rewards Credit Card. For travelers with bigger monthly spending budgets, jumping to the alternative may make sense. Capital One® Venture® Rewards Credit Card earns 2x miles per $1 -- equivalent to a 2% yield for travel statement credits -- and includes a bonus of 50,000 miles after spending at least $3,000 within three months of account opening, but at the cost of a $95 annual fee (waived the first year).
Fortunately, choosing the right card can be simplified. Cardholders who spend at least $12,666 each year will net more with earned travel rewards with Capital One® VentureOne® Rewards Credit Cards’ higher rewards rate, when accounting for just the annual fee. The math works out as follows: $95 ÷ (0.02 – 0.0125) = $12,666.
Spending more than that amount each year would justify paying the annual fee, at least from a straight rewards earned and annual fee perspective. There are other differences between the cards and our full Capital One® Venture® Rewards Credit Card review can help you learn which may be best for you.
Earn travel rewards at a 2.62% rate and avoid an annual feePeople with similar spending habits as Capital One® VentureOne® Rewards Credit Card cardholders may find value in applying for Bank of America® Travel Rewards. The card offers 1.5x points per $1 and includes a new cardholder bonus of 20,000 points after spending $1,000 in the first three months. It even includes the same 0% intro APR for new purchases for 12 billing cycles. What may separate the two cards is brand loyalty. Existing Bank of America banking clients can earn 25% to 75% bonus points with the bank’s Preferred Rewards program. That works out to a fully-baked yield of 2.62% at the highest tier. Read our full Bank of America® Travel Rewards review to learn why we picked it as one of the best travel credit cards.
Capital One® VentureOne® Rewards Credit Card matches best with cardholders who aren’t heavy credit card spenders and travelers who value no-hassles rewards inherent to carrying a card where miles are redeemed for statement credits.
You would think for every good feature there must be stark tradeoff’s. That isn’t necessarily the case for Capital One® VentureOne® Rewards Credit Card. The card balances the relationship between costs and perks well, leaving cardholders with a very competitive card within its no-annual-fee travel card category. Where the tradeoff does hit, though, is on the miles earning rate, which is edged out slightly by competing cards. That means applying for the card may come down to brand loyalty and how much you value the ongoing rewards.