The Smart Investor has collected card information independently. Issuers did not provide the details, nor are they responsible for their accuracy. The review is not a recommendation, the actual rates/fees may be different.
The Capital one Venture Rewards Card is a simple, straightforward travel rewards card with a flexible rewards program and hardly any restrictions. If you’re a frequent traveler who isn’t particularly loyal to any one airline or hotel brand, you’ll love the wide variety of options to choose from while enjoying the generous travel perks.
Capital One Venture Rewards Card
On Capital One’s Secure Website
Great Card To Build Your Credit
Good – Excellent
Great Sign-Up Bonus – 50,000 Rewards points when you spend $3,000 or more in the first 3 months
Flexible Rewards Redemption – 14 airline partners that can be used to redeem
High variable APR – the standard variable APR is 15.24%-25.24%
Airline Partners Limitations – none of 14 airline partners are U.S. based airlines
- No Accumulation Limit on Miles
- Redeem Points for a Statement Credit
- Simple Reward Redemption
Here’s a summary of the main pros & cons (click to see explanation or scroll down):
Capital One Venture Rewards Card – Benefits
Let’s take a look at the benefits of the Venture Rewards card and see if it’s the right one for your wallet or not.
Flexible Rewards Redemption
The Capital One Venture Rewards Card is definitely designed to be a travel rewards card, as this is where their redemption options truly shine. Recently, the Capital One Venture Rewards began offering 14 airline partners that can be used to redeem your accumulated points with. This is a great new feature, as cardholders now don’t have to be restricted to any one airline, and can really see what is the be fit for their travel needs. When points are used towards one of these airlines, the cardholder also gets a 2:1.5 ratio of points towards their flight. This means that if a person uses 6000 points towards their qualifying flight, they will get an additional 2000 points for free, totaling in 8000 points.
No Blackout/Expiration Dates
Unlike many other travel rewards card, the Capital one Venture Rewards Card doesn’t restrict cardholders to when and where they can travel throughout the year. This might sounds like a small bonus, but it can certainly be beneficial when someone needs a last minute trip that they weren’t planning on. There is also no expiration dates on miles accumulated as long as the account is open, which is can also be a huge benefit to anyone wanting to rack up the miles to use for a large trip down the road
Great Sign-Up Bonus
The Capital One Venture Rewards offers a great sign-up bonus of 50,000 Rewards points when you spend $3,000 or more in the first 3 months of opening the account. What makes this sign-up bonus so great is that the 50,000 points are immediately redeemable once the cardholder hits the $3,000 mark, and they are good for $500-$700 (depending on if you want a statement credit or if you want to transfer points to an airline use) worth of travel expenses, which is a great overall value for any frequent traveler.
No Accumulation Limit on Miles
Something that is becoming increasingly popular, yet still difficult to find, rewards credit cards that don’t limit cardholders to how many points they can accumulate before they reach the card’s “limit”. The Capital One Venture Rewards Card doesn’t have a limit to how many points you can accumulate, which makes it a great choice for anyone looking to really save up some big-time points. Plus, as an added perk, there’s also no minimum amount required to redeem for travel expenses, so cardholders really have free range on how many or few points that you want to use at any given time.
Redeem Points for a Statement Credit
A great benefit that the Capital One Venture Rewards Credit Card offers their cardholders is the ability to redeem points accumulated as a statement credit as well, so if a cardholder would prefer to use their points to pay down some of their credit card bill, they have the flexibility to do so. Having this type of choice for a travel rewards credit card isn’t easy to find, and if it is they usually cut your points to minimize your total statement credit. With the Capital One Venture Rewards, the ratio of points used for a statement credit is valued at 1 cent for every point, so 10,000 points are worth a statement credit of $100.
Simple Reward Redemption
Although this doesn’t sound like much, most people do prefer not having to spend many hours trying to redeem their rewards points. The redemption system currently used is simple, straight forward, and easy with the Capital One Venture Rewards, so cardholders aren’t wasting their valuable time trying to claim what’s already theirs.
Earn 10x Points With Hotels.com
When the Capital One Venture Rewards is used for any type of travel booking on Hotels.com, the cardholder automatically earns 10 times the points that they normally would have when booking through other online agencies. This can help rack up points faster, and give the cardholder more points to redeem later on down the road.
Capital One Venture Rewards Card – Drawbacks
Let’s take a look at the drawbacks of the Venture Rewards credit card and see if it’s the right one for your wallet or not.
High Variable APR
The Capital One Venture Rewards Card has a high standard variable APR, ranging from 15.24%-25.24% depending on creditworthiness, but doesn’t offer any type of intro APR bonus. In order to become a credit card deadbeat – you have to make sure you don’t pay any fee or interest, especially high variables APR.
Airline Partners Limitations
The biggest pitfall to the Capital One Venture Rewards is that while it does have 14 airline partners to choose from, none of them are U.S. based airlines, which will limit certain flights available to those looking to fly domestically in the United States.
The Venture Rewards Card does have an annual fee of $95 which is something to take into consideration. This fee is higher compared to other credit cards.
Balance Transfer Fee
This fee is $10 or 3% of the transfer, whichever is bigger. The fee is incurred when you transfer debts from one or more credit cards to your Wells Fargo Rewards Card. This fee is upfront and will be added to your debt load when transferred.
Alternatives to Capital One Venture Rewards Card
Barclays Arrival Plus World Elite Mastercard Credit Card
The Barclay Arrival Plus World Elite Mastercard is comparable to the earnings and rewards options when compared side-by-side to the Capital One Venture Rewards Credit Card. On top of this, The Mastercard has a slightly lower annual fee of $89 (that is also waived the first year) and offers new card holders 12 billing cycles of 0% APR when cardholders transfer their balance to this card. The APR for Barclay is similar, standing at a variable APR of 18.24%-22.24%.
When it comes to a travels rewards card that can be beneficial to both loyalty users as well as more casual spender, the Southwest Rapid Rewards Plus Credit Card is the best of both worlds. The card has a great sign-up bonus, as well as many options for domestic traveling.
The Southwest Rapid Rewards Plus Credit Card is branded by Southwest Airlines. It offers a wide variety of rewards options that extend past the typical travel rewards, which is something that separates the Southwest Rapid Rewards Plus Credit Card from others within the same distinctions. Combine this with a lower annual fee than competitor cards, and it makes sense as to why the Southwest Rapid Rewards Plus Credit Card is a great option to consider adding to your wallet.
Is the Capital One Venture Rewards Card Right for You?
The Capital One Venture Rewards Credit Card has distinguished itself from other rewards credit cards for a number of reasons. From great flexibility to having valuable perks for frequent travelers, the Capital One Venture Rewards Credit Card is definitely a worthy contender for anyone looking to add a new card into their wallet.