Capital One Venture® Rewards vs. Capital One VentureOne®: Which Should You Pick?

Lyle Daly is a personal finance writer specializing in credit cards, travel rewards programs, and banking. His work has also appeared on MSN Money, USA Today, and Yahoo! Finance.

If you’ve turned on a TV in the past few years, you’ve probably seen Jennifer Garner talking up Capital One’s travel rewards credit cards. Courtesy of a strong marketing push emphasizing how easy these cards are to use, Capital One credit cards are some of the most recognizable offers on the planet.

Travelers who want a Capital One card in their wallets have two options in the Capital One® Venture® Rewards Credit Card and Capital One® VentureOne® Rewards Credit Card. Although each card delivers on the ease of use the commercials promise, they have very different sets of features. By picking the one with the benefits you need, you’ll maximize how much value you get from your credit card.

In this matchup, I’m judging the cards in five categories. Of those categories, four will matter to anyone who is interested in a travel rewards card, so they’ll each count for two points. The fifth category will only make a difference for some consumers, and because of that, it will be worth one point.

Side by side comparison

As of Nov. 18, 2019
Capital One® Venture® Rewards Credit Card Capital One® VentureOne® Rewards Credit Card
Rating image, 4.0 out of 5 stars.
4.0 stars
ToolTip Icon for Star Rating. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor.
Rating image, 4.5 out of 5 stars.
4.5 stars
ToolTip Icon for Star Rating. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor.
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Credit Rating Requirement: Good/Excellent Clickable tooltip icon for credit rating info.

Credit Rating Requirement: Good/Excellent Clickable tooltip icon for credit rating info.

Bonus: 50,000 miles after spending $3,000 on purchases within 3 months, equal to $500 in travel Bonus: 20,000 miles after spending $1,000 on purchases within 3 months, equal to $200 in travel statement credits
Rewards Program: Unlimited 2 miles per $1 Rewards Program: 1.25 miles per $1
Intro APR: Purchases: N/A Balance Transfers: N/A Intro APR: Purchases: 0%, for 12 months Balance Transfers: N/A
Regular APR: 17.49% - 24.74% Variable Regular APR: 13.74% - 23.74% Variable
Annual Fee: $0 intro for first year; $95 after that Annual Fee: $0

Highlights:

  • 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

Highlights:

  • $0 annual fee and no foreign transaction fees
  • Earn a bonus of 20,000 miles once you spend $1,000 on purchases within 3 months from account opening, equal to $200 in travel
  • Earn 1.25X miles on every purchase, every day
  • Travel when you want with no blackout dates and fly any airline, stay at any hotel, anytime
  • Miles won't expire for the life of the account and there's no limit to how many you can earn
  • Transfer your miles to over 12 leading travel loyalty programs
  • Enjoy 0% intro APR on purchases for 12 months; 13.74% - 23.74% variable APR after that

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Annual fees

  • Capital One® Venture® Rewards Credit Card -- $95, waived the first year
  • Capital One® VentureOne® Credit Card -- No annual fee

The Capital One® VentureOne® Credit Card is the bank’s no-annual-fee travel rewards card, intended for consumers who would rather avoid paying for a credit card every year. If an annual fee doesn’t fit into your budget or you’re against the idea of paying one on principle, then the Capital One® VentureOne® Credit Card is the card to pick. The Capital One® Venture® Rewards Credit Card does waive its annual fee for the first year, giving you an opportunity to try it out and see if it will be worth the $95 for you.

Scores:

  • 2 points for the Capital One® VentureOne® Credit Card
  • 0 points for the Capital One® Venture® Rewards Credit Card

Why you can trust me

Selecting the right credit cards is important to me, so I always do my homework on what each card offers. I’ve used credit card rewards to turn my typical spending into free travel, well over 300,000 bonus points/miles, airport lounge access, and a Global Entry membership, to name just a few perks I’ve obtained. In analyzing these two cards, I took a close look at how much value a normal consumer could expect to get from them. I also did the math on how they compare in terms of total annual value, which you’ll find under “Which card will earn you more back?”

Sign-up bonuses

  • Capital One® Venture® Rewards Credit Card -- 50,000 miles when you spend $3,000 within the first three months
  • Capital One® VentureOne® Credit Card -- 20,000 miles when you spend $1,000 within the first three months

There’s a big difference in the sign-up bonuses of these cards, both in terms of their value and in how much you’ll need to spend to earn them.

Since you can redeem miles for $0.01 each, the 50,000-mile sign-up bonus of the Capital One® Venture® Rewards Credit Card is worth $500. The $3,000 spending minimum in the first three months is about average for a sign-up bonus that large. Since that’s $1,000 per month, most consumers will be able to spend enough, especially if they put the majority of their bills on their card.

The Capital One® VentureOne® Credit Card earns Venture Miles just like the Capital One® Venture® Rewards Credit Card, so its 20,000-mile sign-up bonus is worth $200. Even though that’s not nearly as much, you’ll only need to spend $1,000 within the same time period, or $333.34 per month.

I see a larger sign-up bonus as a more significant factor than a higher spending minimum, especially since $3,000 in three months isn’t some outlandish amount. You’ll start off with an extra $300 in value from the Capital One® Venture® Rewards Credit Card, more than enough to make up for its annual fee over the first four years you have the card.

Scores:

  • 2 points for the Capital One® Venture® Rewards Credit Card
  • 0 points for the Capital One® VentureOne® Credit Card

Rewards rates

  • Capital One® Venture® Rewards Credit Card -- Unlimited 2 miles per $1
  • Capital One® VentureOne® Credit Card -- Unlimited 1.25 miles per $1

The rewards rate is one of the major selling points of the Capital One® Venture® Rewards Credit Card. You won’t find a travel rewards card with a higher unlimited, flat rate than 2 miles per $1. There are cards that earn more in specific bonus categories, but not on every purchase, which makes the Capital One® Venture® Rewards Credit Card ideal if you don’t want to match your credit cards to specific spending categories.

Considering the Capital One® VentureOne® Credit Card doesn’t cost you anything, it also has a great rewards rate at 1.25 miles per $1. That’s just not quite enough to measure up.

Hotels.com bonus:

A huge benefit of both cards is their rewards rate on Hotels.com purchases. When you go through Hotels.com/Venture and pay using your Capital One® Venture® Rewards Credit Card or your Capital One® VentureOne® Credit Card, you’ll earn 10 miles per $1. If you stay at hotels often or even book just one stay at a luxury hotel, you could collect a ton of miles, so make sure you use that link.

Scores:

  • 2 points for the Capital One® Venture® Rewards Credit Card
  • 0 points for the Capital One® VentureOne® Credit Card

Travel credits

  • Capital One® Venture® Rewards Credit Card -- $100 for Global Entry fee or $85 for TSA Precheck fee, available every four years
  • Capital One® VentureOne® Credit Card -- N/A

This one’s no contest, which is to be expected. I’ve yet to see a no-annual-fee credit card that offers travel credits, and the Capital One® VentureOne® Credit Card is no exception. Card issuers aren’t going to give you a travel credit on a card you’re getting for free.

The Capital One® Venture® Rewards Credit Card will cover your registration and renewal fees for your choice of Global Entry, which helps you get through security faster when entering the United States, or TSA Precheck, which helps you get through security faster during domestic travel. This is a standard feature of premium travel rewards credit cards, but those usually have much higher annual fees.

If you go with the Capital One® Venture® Rewards Credit Card, it’s best to sign up for Global Entry instead of TSA Precheck. When you’re part of that program, you also automatically qualify for TSA Precheck, so you can enjoy the benefits of both. If you sign up for TSA Precheck, you won’t get Global Entry privileges. It wouldn’t make sense to choose TSA Precheck over Global Entry to save $15 in fees, and it’s even more illogical if you have a travel credit covering the fee either way.

Scores:

  • 2 points for the Capital One® Venture® Rewards Credit Card
  • 0 points for the Capital One® VentureOne® Credit Card

Which card will earn you more back?

Despite all the different features these cards have, you’ll ultimately want to pick the one that’s going to produce the greater return on your spending. The simplest way to figure that out is to calculate when the higher rewards rate of the Capital One® Venture® Rewards Credit Card will make up for its annual fee.

The Capital One® Venture® Rewards Credit Card earns 0.75 miles per $1 more than the Capital One VentureOne® Credit Card, and that’s equivalent to $0.0075. All we need to do is divide the $95 annual fee by that rewards difference of $0.0075. That gives us a break-even point of $12,666.67.

If you spend more than that every year, you’ll earn more back with the Capital One® Venture® Rewards Credit Card. If you spend less than that, you’ll earn more back with the Capital One® VentureOne® Credit Card. By the way, that annual spending equates to $1,055.56 per month.

Here’s a look at how much you could earn from each card in the first year and every year after that on a reasonable annual spending of $18,000 ($1,500 per month):

Card Annual Miles Earned (on $18,000 spending) Sign-up Bonus First-Year Earnings Annual Fee Yearly Value (value of miles earned minus annual fee)
Capital One® Venture® Rewards 36,000, $360 value 50,000 miles, $500 value 86,000 miles, $860 value $95 after first year $265
Capital One® VentureOne® 22,500, $225 value 20,000 miles, $200 value 42,500, $425 value $0 $225

Remember that you can also take advantage of that $100 Global Entry/TSA Precheck with the Capital One Venture® Rewards Credit Card, and that would push the card up to $960 in first-year value, $535 more than the Capital One VentureOne®.

0% intro APR offers

  • Capital One® Venture® Rewards Credit Card -- N/A
  • Capital One® VentureOne® Credit Card -- 0% intro APR on purchases for 12 months

Since the Capital One® Venture® Rewards Credit Card doesn’t have any intro APR offers, it’s not the card for carrying any sort of balance. You should only apply for it if your goal is to maximize your travel rewards.

The Capital One® VentureOne® Credit Card starts you off with a 0% APR on everything you buy for 12 months. That’s not the longest rate you could find, and it won’t apply to balance transfers, but it’s enough to give the card the edge in this category.

Scores:

  • 1 point for the Capital One® VentureOne® Credit Card
  • 0 points for the Capital One® Venture® Rewards Credit Card

How you can redeem your Capital One Venture miles

  • As a statement credit towards previous travel purchases through the Capital One Purchase Eraser; rate of $0.01 per mile
  • Through the Capital One travel portal to book new travel purchases; rate of $0.01 per mile
  • For gift cards; rate of $0.01 per mile
  • For cash back; rate of $0.005 per mile

Your redemption options are identical regardless of which Capital One® Venture® card you have, so this section is purely informational and won’t have a score attached.

Unlike other travel rewards cards that allow points transfers to partner airlines and hotels, Capital One’s cards only let you cash in your points towards travel at a fixed rate. Although this means you’ll never score the high values that are possible with other rewards currencies, it also makes Venture miles as uncomplicated as it gets, because you won’t need to spend any time looking for award space with an airline or hotel.

Of the redemption methods above, I’d recommend redeeming your points for statement credits towards travel. Here’s why -- when you book your travel first, you can go through an online travel site and earn points with that site. For example, if you booked through Expedia, you could earn points in its rewards program. You won’t have that opportunity if you book through the Capital One travel portal. It’s particularly important to book travel first when booking a hotel so that you can take advantage of the 10 miles per $1 bonus on Hotels.com.

Of the other two redemption methods, gift cards can provide good value if you want to use your miles that way, and cash back is obviously a poor choice at $0.005 per mile.

The final score

Even though the Capital One® VentureOne® Credit Card provides some solid benefits and doesn’t cost a thing, you’ll probably get more out of the Capital One® Venture® Rewards Credit Card because of the larger sign-up bonus, the travel credit, and the superior rewards rate.

Give the Capital One® Venture® Rewards Credit Card a try if:

  • You want a travel rewards credit card that earns big mileage and has a simple redemption process
  • You fly frequently and could benefit from a Global Entry/TSA Precheck membership
  • You’ll put at least $1,055.56 on your credit card every month

The main advantages of the Capital One® VentureOne® Credit Card are that it’s free and it includes a 0% APR intro offer. Due to those benefits, you should get it if any of the following apply to you:

  • You want to earn travel rewards without paying an annual fee
  • You want to finance a purchase that you’ll pay off within 12 months
  • You’ll put less than $1,055.56 on your credit card every month
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Our Bottom Line

Few travel cards can go toe-to-toe with this card's perks, including the high sign-up bonus, unlimited rewards, and best-in-class hotel rewards program.

Read Full Review
What we Like:
  • 50,000 miles sign-up bonus
  • 2 miles per $1
  • No foreign transaction fees
Key Scores:
4.0 5 Perks
5.0 5 Fees
2.5 5 APR
Perks 4.0/5
Fees 5.0/5
APR 2.5/5
  • Annual Fee: $0 intro for first year; $95 after that
  • Regular APR: 17.49% - 24.74% Variable
  • Intro APR: Purchases: N/A Balance Transfers: N/A
Highlights
  • 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
Show More Arrow graphic to expand and collapse content
Apply Now
Secure lock icon.

On Capital One's Secure Website.

Our Bottom Line

Travel cards with no annual fee generally pull back on cardholder favorites, but this offer keeps those perks intact, making it a solid offer for cardholders not spending enough on credit to justify paying an annual fee.

Read Full Review
What we Like:
  • 20,000 miles sign-up bonus
  • No annual fee
  • 0% intro APR offer
  • No foreign transaction fees
Key Scores:
4.0 5 Perks
5.0 5 Fees
5.0 5 APR
Perks 4.0/5
Fees 5.0/5
APR 5.0/5
  • Annual Fee: $0
  • Regular APR: 13.74% - 23.74% Variable
  • Intro APR: Purchases: 0%, for 12 months Balance Transfers: N/A
Highlights
  • $0 annual fee and no foreign transaction fees
  • Earn a bonus of 20,000 miles once you spend $1,000 on purchases within 3 months from account opening, equal to $200 in travel
  • Earn 1.25X miles on every purchase, every day
  • Travel when you want with no blackout dates and fly any airline, stay at any hotel, anytime
  • Miles won't expire for the life of the account and there's no limit to how many you can earn
  • Transfer your miles to over 12 leading travel loyalty programs
  • Enjoy 0% intro APR on purchases for 12 months; 13.74% - 23.74% variable APR after that
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