Capital One® VentureOne® Rewards Credit Card Review
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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.
Capital One® VentureOne® Rewards Credit Card
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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.
Credit Rating Requirement:
- 20,000 miles sign-up bonus
- No annual fee
- 0% intro APR offer
- No foreign transaction fees
- Annual Fee: $0
- Regular APR: 13.49% - 23.49% Variable
- Intro APR: Purchases: 0%, for 12 months Balance Transfers: N/A
- $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; 13.49% - 23.49% variable APR after that
What I like about the card
20,000 mile intro bonus -- New cardholders can reap this bonus after spending $1,000 on purchases within 3 months of the account opening.
10 miles per $1 at Hotels.com -- Through a recently-announced deal with Hotels.com, cardholders can earn miles at one of the most generous rates in the travel credit card space.
To take advantage of this offer, cardholders have to use their plastic to make lodging bookings at selected venues through a dedicated Hotels.com page. This isn’t some short-term, blink and you miss it deal either. It’s valid through January 2020.
Standard 1.25 miles per $1 -- Outside of the Hotels.com bonus all other purchases earn the base rate.
No annual fee -- Cardholders won’t ever be hit with an annual fee. This is particularly appealing given the rather full set of features with this card.
0% intro APR for 12 months for purchases -- New purchases qualify for a 0% APR for the promo period of 12 months.
No foreign transaction fee -- It’s still fairly common for issuers to levy this charge, which tends to hover around the 3% mark. Though that’s not a high amount, it can add up to substantial outlay if a cardholder spends generously abroad (which isn’t hard to do when on vacation, trust me!).
Flexibility with miles redemption -- Many travel cards require their holders to redeem rewards for travel by booking through a proprietary portal whereas you can book travel with this card through your preferred method and erase purchases with statement credits.
Visa Signature benefits -- This is the brand of the card, at least for those approved with a $5,000 credit limit and above (below that number, customers receive a Visa Platinum). Visa Signature has a raft of travel-related benefits, which feed nicely into VentureOne®’s native feature set. These include travel accident insurance, lost luggage insurance, extended warranty protection, and more.
What could be improved
0% intro balance transfer APR -- A balance transfer promo would make what’s already a quite useful card into a nearly indispensable product.
How much you can earn
Assuming that a cardholder is a traveler (i.e., Capital One’s target demographic for this plastic), he or she can rack up miles quickly by strategic spending on the card -- particularly if they take advantage of the Hotels.com bonus.
Here’s a glance at what a somewhat liberal-spending short trip abroad might earn for a cardholder taking advantage of the Hotels.com bonus, and using his or her Capital One® VentureOne® Rewards Credit Card to pay for both the flight and all expenses while on their trip.
|Flight via provider||$600||750|
|Hotel via Hotels.com promotion||$500||5,000|
|Spending while on trip||$800||1,000|
|TOTALS||$1,900||6,750 ($67.50 value for travel redemptions)|
All told, for less than $2,000 in total spending on the card, 6,750 miles would be earned -- that’s a pretty healthy return of 3.3375%.
Suggested credit score
You should have excellent credit to apply for this card, according to Capital One. Credit score descriptors are, of course, subjective. Fortunately, the issuer provides some guidance. Capital One says that those with excellent credit:
- have, for at least three years, owned a credit card with a limit above $5,000, 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.
It’s important to note that these are not the only factors in Capital One’s credit decision. Other factors from your application will also play a role, as will -- naturally -- your credit history.
The Visa Signature benefits
Here's a rundown of the valuable Visa Signature benefits cardholders can access:
- Travel accident insurance -- Accidents happen, which is doubly inconvenient when venturing abroad. Visa’s travel accident insurance covers accidental death or dismemberment up to $250,000 if the card is used to pay for transport on a common carrier.
- Medical referral assistance -- Illness happens, which is another uncomfortable circumstance when traveling. Visa can provide referrals to local English-speaking doctors and facilities, and related services like family contacts and monitoring. Note: all medical bills are the responsibility of the cardholder.
- Vehicle rental insurance -- The card carries supplemental auto insurance coverage, which complements your existing auto policy (or serves as primary coverage, in case you don’t have your own).
Accidents and theft are covered up to the monetary value of any qualifying vehicle. The maximum rental term covered is 15 consecutive days within your country of residence, and 31 consecutive days outside it.
- Lost luggage insurance -- It happens to many of us sooner or later; your carrier just can’t hold on to your bags. Visa Signature covers this tragedy at up to $3,000 in total value.
Visa is aware that it needs to cater to a wide credit card customer base, so its benefits don’t cover just travelers. Its Signature-branded cards also offer the following general consumer perks, among others:
- Purchase security -- Did you buy some bum merchandise? If you paid under $500 and file a claim within 90 days of purchase, you can get your money back if the goods qualify for coverage.
- Extended warranty protection -- You can potentially double the length of the manufacturer’s warranty on a good bought with the card. Owning this card allows you to double the time period for up to one additional year, on warranties with a maximum period of three years.
The card is right for you if...
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 and the various Visa Signature insurances, not to mention that high-yielding Hotels.com special miles bonus. What makes this card a strong contender is that the non-traveler can also benefit from the well stocked feature set.
As such, Capital One® VentureOne® Rewards Credit Card is an appropriate card for those who want plenty of perks on their plastic, but 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.