Capital One Venture Rewards Credit Card review
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, or if you don’t want to pay an annual fee.
- Apply with a good to excellent credit score of 670 or higher.
|Welcome offer||Enjoy a one-time bonus of 60,000 miles once you spend $3,000 on purchases within 3 months from account opening, equal to $600 in travel|
|Rewards||Earn unlimited 2x miles on every purchase, every day|
|Purchase APR||15.99% to 23.99% variable|
|Balance transfer APR||15.99% to 23.99% variable|
|Minimum Credit Score||670|
How do I apply for the Capital One Venture Rewards Credit Card?
- Select 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 60,000 bonus miles after you spend $3,000 or more on purchases in the first 3 months of card membership. This is worth around $600 when redeemed 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.
- 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. 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, TrueBlue Singapore Airlines KrisFlyer, Wyndham Rewards and more. These points largely transfer at a 1:1 ratio.
- 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.
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
What interests you most about this credit card?
Based on a survey of 62 people (out of 127 respondents) on finder.com
|Features and benefits||32.26%|
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.
Chase’s card takes the prize here. While you’ll pay a bit more than required of the Venture, you get a much higher welcome offer value for that extra effort.
- Winner: Chase Sapphire Preferred® Card
Capital One’s card offers 2x miles on all purchases, while Chase’s card offers much more after a new update, including 5x points on travel booked with Chase, 3x points on dining, select streaming services and online groceries, 2x points on all other travel and dining, as well as 1x points on all other purchases.
While this showdown was close before, its now no contest: the Chase Sapphire Preferred® Card simply offers more.
- Winner: Chase Sapphire Preferred® Card
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 and as of October 7, 2021, Capital One now transfers points at the same rate as Chase. This is a welcome addition to the Venture and helps generate additional value on your earned miles.
- Winner: Tie
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>
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 midtier 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 as high as 23.99%. 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.
Compare travel credit cards
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.
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 top
Capital 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 2021. 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 1.3 rating out of 5 as of October 2021.
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.
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
- When do I find out what APR I’ll receive for my Capital One card?
You find out your APR after Capital One approves your application.
- What signup bonus does the card have?
You get 60,000 bonus miles after you spend $3,000 on purchases during your first 3 months of card membership.
- When do my Capital One reward miles expire?
Reward miles don’t expire as long as your account remains active and in good standing.
- What’s the card’s annual fee?
Expect to pay $95 starting from your second year. For the first year, the annual fee is waived.
Credit card ratings
★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor
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Kevin 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.
The Capital One Venture Rewards Credit Card is a travel card that offers 2x miles on all purchases. It has a $95 annual fee. The card has returned to its previous signup bonus, allowing you to earn 60,000 miles after you make $3,000 in purchases within the first 3 months of account opening.
Because of its strong, flat-rate rewards, the card occupies a unique position in the travel space. Its simplicity means it’s an excellent choice if you don’t want to deal with multiple bonus-reward categories. You can also transfer miles to over a dozen frequent-flyer programs, including Air France-KLM Flying Blue, Air Canada Aeroplan and Avianca LifeMiles. Thankfully, Capital One has boosted a majority of its transfer rates to a 1:1 ratio, meaning points transferred this way are now often worth 2 cents or more a piece compared to a straight redemption. On top of it all, you’ll receive a credit every four years for your Global Entry or TSA PreCheck application fee. It’s a perk not often seen in mid-tier travel cards, and it elevates an already impressive product.