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Capital One® Venture® Rewards Credit Card review
Last updated:
An excellent card if you want simple, flat-rate travel rewards.
finder.com’s rating: 4.4 / 5.0
★★★★★
- Get this card if you want to avoid complicated reward structures, and you’d like to earn a simple but solid 2x miles on all purchases.
- Pick something else if you want to earn higher reward rates in different categories — perhaps because a large portion of your spending is concentrated in a few areas. Also, avoid the card if you don’t want to pay an annual fee.
- Apply with a good to excellent credit score of 670 or higher.
50,000
Miles as welcome offer
Up to 5x
Miles
$95
Annual fee
17.24%, 21.99% or 24.49%
Purchase APR (variable)
Details
| Product Name | Capital One® Venture® Rewards Credit Card |
|---|---|
| Card type | Visa |
| Annual fee | $95 |
| Purchase APR | 17.24%, 21.99% or 24.49% variable |
| Balance transfer APR | 17.24%, 21.99% or 24.49% variable |
| Balance transfer fee | None |
| Cash advance rate | 24.49% variable |
| Cash advance fee | $10 or 3% of the cash advance amount, whichever is greater |
| Foreign transaction fee | None |
| Interest free period | Up to 25 days |
| Late payment fee | Up to $40 |
| Additional cardholder fee | $0 |
| Rates & fees | rates & fees |
Expert review
Review by
Kevin Joey Chen
kevin.chen@findercrew.comKevin Joey Chen is a credit cards, banking and investments writer whose work and analysis have appeared on CNN, U.S. News & World Report, Business.com, Lifehacker and CreditCards.com. He's passionate about helping you get your finances in order by expertly navigating cutting-edge financial tools — including credit cards, apps and budgeting software.
Expert review
How do I apply for the Capital One® Venture® Rewards Credit Card?
- Go to the provider's site and click Apply now.
How long will it take to get my Capital One® Venture® Rewards Credit Card?
Due to its automated preapproval process, Capital One usually makes a decision within 60 seconds. In some cases, it may take up to 10 business days.
Upon approval, expect your card and welcome materials to arrive within seven to 10 business days.
Capital One® Venture® Rewards Credit Card benefits
- Signup bonus.
Earn 50,000 bonus miles after you spend $3,000 or more on purchases in the first 3 months of card membership. This is worth $500 if you redeem your miles through Capital One. But you may be able to increase the value of your miles by transferring them to programs from Capital One travel partners, including Aeroplan, Avianca LifeMiles, Etihad Guest and Flying Blue. There’s also an additional 50,000-mile bonus after you spend at least $20,000 in your first 12 months when you open your account.
- Global Entry or TSA PreCheck credit.
Get a $100 statement credit for Global Entry or TSA PreCheck when you pay for your application with your card. You’ll get this credit once every four years. Typically, you’ll find this benefit in premium cards such as The Platinum Card® from American Express and the Chase Sapphire Reserve®. Finding the perk in a mid-tier card like the Capital One® Venture® Rewards Credit Card is a nice surprise, and it elevates an already solid product. - 2x miles on all purchases.
Earn unlimited 2 miles for every dollar spent on all purchases, and 5x miles on Uber Eats until January 31, 2021. While you will pay an annual fee for this card, this reward rate is good for a flat-rate structure. No-annual-fee cards often pay a lower rate — typically 1.5% on every dollar spent. The Capital One® Venture® Rewards Credit Card ensures you’ll always earn solid miles, no matter where you spend. This can be helpful if you don’t want to keep track of multiple reward tiers. - Transfer miles to select partners.
You can transfer miles to around 15 of Capital One’s airline and hotel partners. These include Air Canada Aeroplan, Air France-KLM Flying Blue, Avianca LifeMiles, Emirates Skywards, JetBlue TrueBlue Singapore Airlines KrisFlyer, Wyndham Rewards and more. - No foreign transaction fees.
When you travel abroad and you use your card, you won’t pay any fees. Other cards have up to a 3% fee for each foreign transaction. - No penalty APR.
Most cards come with a penalty APR of up to 30% when you make a single late or returned payment, and it can last indefinitely. But with this card, you’ll only pay a fee. - Visa Signature benefits.
Get benefits such as 24/7 Visa concierge service, auto rental insurance, extended warranties, emergency card replacement and more.
How to earn 5x miles on Uber Eats
- Create an Uber Eats account or log in if you already have an account.
- Set your Capital One® Venture® Rewards Credit Card as a payment method.
- Order your food.
- Earn 5x miles within one or two billing cycles.
Note: Until September 30, 2020, you can use your miles to cover the cost of your Uber Eats food.
Survey data on Capital One® Venture® Rewards Credit Card
What credit score did you have when you were approved for this credit card?
Based on a survey of 27 people (out of 127 respondents) on finder.com
| Answer choices | Responses |
|---|---|
| 740-850 | 44.44% |
| 670-739 | 33.33% |
| 580-669 | 22.22% |
| 300-579 | 0.00% |
What interests you most about this credit card?
Based on a survey of 62 people 9 (out of 127 respondents) on finder.com
| Answer choices | Responses |
|---|---|
| Rewards | 48.39% |
| Welcome bonus | 12.90% |
| Features and benefits | 32.26% |
| APR | 6.45% |
How do Capital One® Venture® Rewards Credit Card benefits stack up to the competition?
In terms of an annual-fee card that offers flat-rate travel rewards, the Capital One® Venture® Rewards Credit Card is a rare breed. The Barclaycard Arrival® Plus World Elite Mastercard® was once a close competitor, but it’s since been discontinued.
However, we can compare Capital One’s product with another card that sits around the same price point: the $95-a-year Chase Sapphire Preferred® Card.
Signup bonus
Chase’s card takes the prize here, offering a similar value with way lower spending requirements.
- Winner: Chase Sapphire Preferred® Card
Rewards
Capital One’s card offers 2x miles on all purchases, while Chase’s card offers 2x points on travel and dining as well as 1x points on all other purchases.
This may seem like an automatic win for Capital One, but we do need to factor in redemption rates, which you can read more about below. The key thing to remember here is the Capital One® Venture® Rewards Credit Card gives you a simple rewards structure, while with Chase’s product you’ll need to pay closer attention to the categories you’re using the card for.
- Winner: Tie — it depends on what you’re looking for
In-house redemption rates
The Chase Sapphire Preferred® Card has an ace in the hole: When you redeem your points for travel through Chase Ultimate Rewards, they’re worth 25% more.
That means you can easily earn a 2.5% rewards rate on travel and dining, and a 1.25% rate on all other purchases. Meanwhile, there’s no such boost when you redeem your Capital One miles through their issuer’s portal.
- Winner: Chase Sapphire Preferred® Card
Redemption rates when transferring to travel partners
Both issuers allow reward transfers to travel partners. But Chase’s program is superior, letting you transfer your points at a 1:1 ratio instead of the 2:1.5 or 2:1 ratio you’ll get with Capital One.
Overall, you can find higher redemption rates through the Chase Sapphire Preferred® Card.
- Winner: Chase Sapphire Preferred® Card
TSA PreCheck/Global Entry application fee credit
The Capital One® Venture® Rewards Credit Card takes the prize here, as its competitor doesn’t offer the benefit at all. This is one of the sharpest differences between the two cards.
- Winner:Capital One® Venture® Rewards Credit Card/li>
Travel protections
The Chase Sapphire Preferred® Card has a more impressive suite of protections, including trip cancellation/interruption insurance, trip delay reimbursement and baggage delay insurance. However, it doesn’t advertise travel accident insurance, which Capital One offers. Both cards come with auto rental collision damage waivers.
- Winner: Chase Sapphire Preferred® Card
Other mid-tier travel options
There are airline cards at the $95-to-$99-a-year level, such as the Delta SkyMiles® Gold American Express Card, United℠ Explorer Card and Citi® / AAdvantage® Platinum Select® World Elite™ Mastercard®. Each offers solid mile earnings and great airline-specific benefits, but your rewards won’t be as flexible as you’ll find with the Capital One® Venture® Rewards Credit Card.
What to watch out for
- Annual fee.
You’ll pay a $95 annual fee to use the card. This means you’ll need to spend $4,750 on everyday purchases to offset the annual fee. - Potentially high APR.
If you don’t have an excellent credit score, you may end up with an APR on the higher end of 24%. Considering the average APR is around 16%, this is relatively high. But if you pay your balance in full and on time, you won’t have to worry about it. - No intro APR period.
This card has no intro APR period on purchases or balance transfers. If that’s what you’re looking for, consider an intro APR card. - No 1:1 transfer ratio.
Unlike the Chase Sapphire Preferred® Card, which offers 1:1 transfer ratios to travel partners, the Capital One® Venture® Rewards Credit Card offers mile transfers at a 2:1.5 or 2:1 ratio. Not only does this make transfers more complicated, it also reduces the overall redemption rate you can get on your miles.
Compare travel credit cards
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What should I know before I apply?
Apply for the card if you’re a US citizen or permanent resident of the US and you’re at least 18 years old.
You’ll need to fill out personal details, including:
- Your full name and contact information.
- Your date of birth and Social Security number.
- Your financial information, including employment and annual income.
During the application process, you can choose whether or not you want to make a balance transfer, and you can opt to receive further communications in Spanish if that’s your preferred language.
If you’re an existing or a previous cardholder, you may not be eligible for the signup bonus.
What credit score do I need?
Apply with a good to excellent credit score of 670 or higher. An excellent credit score of 740 or higher will greatly increase your chances of approval. A higher score will also land you with a lower APR and a better credit limit.
Back to topCapital One® Venture® Rewards Credit Card reviews and complaints
Most customers love the Purchase Eraser perk, the flat 2% return they get on all purchases and they especially love the high credit line they received. The negative feedback revolves around the high APR that some customers received — but if you pay on time, this shouldn’t be a problem.
The Better Business Bureau has accredited Capital One with a rating of A as of October 2020. However, it sports a 1.13 out of 5 when it comes to a customer rating from an average of nearly 500 reviews. It fares little better on Trustpilot, earning a 1.4 rating out of 5 as of October 2020.
I received the card. Now what?
- Download the Capital One Mobile app. Use it to pay your bills or send money to friends and family. You can also monitor your card activity or redeem rewards through the app.
- Pay on time. Try to pay your balance by your due date — a minimum of 25 days after the close of each billing cycle — to avoid paying late fees and interest.
- Customer service. Call Capital One customer service at 800-227-4825 if you have any questions.
How can I redeem the miles I earn?
- Pay for past purchases. With a feature called Purchase Eraser, you can redeem miles for bookings you made within the last 90 days. To do so, log on to your Capital One account or call the rewards center and get a statement credit for the amount you spent.
- Redeem for travel. Log on to your Capital One account or call the rewards center to book your flight, hotel or car rental with your miles. For travel booking, 100 miles are worth $1.
- Non-travel redemption. You’re not limited to using miles on travel purchases. You can also get cash back in the form of a check or statement credit, merchandise or gift cards. For non-travel redemption, the value of your miles may vary.
Bottom line
The best reason to get the Capital One® Venture® Rewards Credit Card is its solid reward rate on every purchase. This is ideal if you don’t want to deal with multiple reward tiers for different categories and prefer to keep things simple.
At the same time, you’ll want to watch out for the $95 annual fee, which will effectively reduce the rewards you earn. Additionally, while mile transfers are a nice touch, the transfer ratios can be a drag.
As a rule of thumb, consider this card if you plan on spending $10,000 or more on it. This will easily let you offset your annual fee with your rewards, and give you comfortable mile earnings on top of that.
Not quite what you’re looking for? Check out other travel rewards cards and compare your options before deciding which card to pick.
Frequently Asked Questions
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Images: Capital One