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Capital One® VentureOne® Rewards Credit Card review
Kliment Dukovski is a writer for finder.com, working on credit cards, money transfers, home loans and more. He aims to deliver honest and accurate information to help you make the right financial decisions. Before joining Finder, he ghostwrote guides and articles on foreign exchange, stock market trading and cryptocurrencies. When he's not writing about finance-related subjects, he writes sci-fi.
Capital One® VentureOne® Rewards Credit Card is a simple travel rewards card that lets you earn unlimited miles on all purchases. But its coolest feature is the incredibly high number of miles you can earn when booking through the Hotels.com Venture website.
You also get a long intro APR period on purchases, which can help if you plan to make a large purchase and want to carry a balance without interest.
Earn 20,000 bonus miles after you spend $1,000 on purchases during your first 3 months of card membership. These miles are worth $200 when redeemed for travel rewards.
Earn an unlimited 1.25x miles on all of your purchases and 10x miles on bookings through the Hotels.com Venture website. The 10x miles offer ends on January 31, 2020.
Intro APR period on purchases.
Get a 0% intro APR on purchases for the first 12 months your account is open. After that, a variable APR of 14.24%, 20.24% or 24.24% applies.
No annual fee.
Take advantage of all perks of the card without paying an annual fee.
How can I redeem the miles I earn?
Use Purchase Eraser.
After booking your travel with your Capital One® VentureOne® Rewards Credit Card card, log in to your Capital One account or call the rewards center to take advantage of Purchase Eraser, which allows you to redeem your miles toward credit for the amount you spent on your travel. You must use this feature within 90 days of your purchase.
Log in to your Capital One account or call the rewards center to book your flight, hotel or car rental with your miles. The value of 100 miles is $1 toward a travel booking.
Redeem your miles for cash back in the form of a check or statement credit. You can also redeem miles for merchandise or gift cards. The value of your miles for these types of redemption vary.
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No foreign transaction fees.
When you use your card while traveling abroad, you won’t pay a foreign transaction fee. With other cards, you face a fee of up to 3% for each transaction.
No penalty APR.
When you make a late payment, you’ll pay only a penalty fee. Other cards may also apply a penalty APR of up to 30%. What’s worse is cards that stick you with that penalty indefinitely.
Visa Signature® benefits.
If you apply for the Visa Signature® card, you’ll enjoy such benefits as a 24/7 concierge service, complimentary room upgrades at participating hotels and resorts, car rental insurance, shopping discounts and extended warranties.
Which card will I get: Visa Signature® or Visa Platinum?
If your approved credit line is $5,000 or more, you’ll get the Visa Signature® card. Otherwise, you’ll get the Visa Platinum card.
Case study: Anna’s experience
Anna Serio Writer
Like most millennials, I avoided credit cards for a long time. But I travel a lot and I wanted a way to avoid foreign transaction fees. With no annual or foreign transaction fees, 12 months promotional APR and 1.25 miles on the dollar, a travel card like Venture One seemed like a good option.
It took me about five minutes to get approved for a $5,000 limit with a variable APR of 24.24%. It was easier than I’d expected, though I was alarmed that Capital One didn’t make it obvious when it checked my credit. While the miles haven’t exactly netted me a free flight to Europe, every few months I earn enough points to cover a $122 MetroCard. I obsessively pay off my balance as soon as each purchase clears — a habit that got my credit limit bumped up to $7,500 after about six months.
What to watch out for
With this card, the minimum credit line you can receive is $1,000. But if you have an excellent credit score and low utilization, you may see a higher credit limit.
Depending on your creditworthiness, you might end up with an APR of 24.24% variable, which is considerably higher than the average of 16%. However, if you pay your balances on time and in full, the APR may not matter.
Compare travel credit cards
What should I know before I apply?
To apply for the card, you must be at least 18 years old and a US citizen or a permanent resident of the US.
You’ll also need to such provide information as:
Your full name and contact information.
Your date of birth and Social Security number.
Your financial information, including employment details and your annual income.
You can request a balance transfer with your application. And if you prefer communication in Spanish, you can select it as your preferred language.
If you have an existing Capital One account or had an account previously, you may not be eligible for the signup bonus.
What credit score do I need?
Apply with good to excellent credit score of 670 or higher. To get a higher credit line and a low APR, apply with an excellent credit score.
What do customers say about the Capital One® VentureOne® Rewards Credit Card?
Most customers are happy with the size of this card’s signup bonus and its credit line. Complaints revolve around high APRs some customers say they received.
Capital One earns an A+ from the Better Business Bureau, which accredited the bank in 1995.
How do I apply for the Capital One® VentureOne® Rewards Credit Card card?
Learn more about how to apply for the Capital One® VentureOne® Rewards Credit Card.
How long will it take to get my Capital One® VentureOne® Rewards Credit Card card?
Thanks to an automated approval system, Capital One usually makes a decision within 60 seconds. In some cases, it can take up to 10 business days.
After approval, your card arrives by mail within 10 business days.
I got the card. Now what?
Download the app. With the Capital One Mobile app, you can pay your bills or send money to your friends and family from your phone. If lose your card, lock your account through the app and unlock it when you find it. You can also get notifications for every transaction you make and more.
Pay on time. Pay your balance when it’s due to avoid paying late fees and unnecessary interest.
Get help. Call Capital One’s customer service at 800-227-4825 with any questions or issues.
If you’re looking for a simple, no-annual-fee travel card, the Capital One® VentureOne® Rewards Credit Card might be for you. You’ll earn unlimited miles on all purchases, with a generous 10x miles for purchases through the Hotels.com Venture website.
Yes. After you spend $1,000 on purchases in the first 3 months of card membership, you’ll earn 20,000 bonus miles — which are worth $200.
No, as long as your account remains open and in good standing. There’s no cap to the number of miles you can earn.
Purchases made on airlines, hotels, rail lines, car rental agencies, limousine services, bus lines, cruise lines, taxi cabs, travel agents and time shares are considered travel purchases. Ultimately, it depends on the category code assigned to the merchant.
Images: Capital One
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