About Capital One Venture Card
Capital One’s Venture Card is currently offering 50,000 miles for new cardholders who spend $3,000 within three months of enrollment.
The card is Capital One’s most heavily marketed credit card, and rightly so. The travel rewards card world is packed with competitors, many of which we’ll list in this review.
Knowing which of these cards is right for you is important for making the right decision.
We’ve applied our research method and expertise to understand what this card offers in the way of rewards and benefits. We’ve also analyzed its rates and fees.
In this review, we’ll cover each one of these areas, providing comparisons to other travel cards along the way so you’ll be equipped to make the best choice possible.
The Capital One Venture Card’s Rewards
In the credit card world, the name of the game these days is the big offer. Some cards offer consumers a really amazing introductory APRs, while other cards woo you with loads of points.
Generally speaking, these are the two categories of cards you’ll find out there. Some are heavy on percentage offers, while others are heavy on points offers.
50,000-Point Sign-Up Bonus
The Capital One Venture Card is all about the points (in this case, they’re miles). If you’re accepted for the card, you can receive 50,000 bonus miles if you spend $3,000 on your card within three months of your enrollment date. That basically means that you’ve got about 90 days from the day you’re accepted (not the day you get your card) to spend $3,000.
Our research of the Bureau of Labor Statistics data indicates that hitting $3K in three months is almost automatic for the average American household; it should take less than two months.
2x Points on Purchases
The Capital One Venture card also gives you 2 points for every $1 you spend. The research we mentioned earlier indicates that the average household can spend about $25,000 a year on their card, which means this card can earn you around 50,000 miles a year, which has a cash value of $500.
You’ll also receive Capital One’s suite of card features, including no foreign transaction fees, fraud coverage if your card is stolen and complete access to your credit score, as well as helpful Capital One credit tools.
Getting the Venture card also gives you membership in the Visa Signature plan, through which you get a complimentary concierge service, possible upgrades at hotels, as well as 24-hour travel assistance in case you have a money emergency abroad.
Redeem Your Points for Airfare, Travel or Cash
When it comes to airfare, your Capital One Venture miles can be used for any airline at any time with no blackout dates (we confirmed this during a chat with a Capital One customer service rep).
Capital One also offers a really cool gadget called the Purchase Eraser. It does exactly what it sounds like it does. With a few clicks, you can magically make travel-related purchases disappear! We watched a demo of the Purchase Eraser to get a feel for how it works.
You log into your account, click through a few pages and then select a travel-related purchase you want to erase. The ratio of points to dollars is 100 to $1. So, if you use points to erase a car rental of $250, it will cost you 25,000 points.
Confirm the erasure and, abracadabra, it’s done! The points are deducted from your account and the transaction is removed from your billing cycle.
You can also redeem your points for cash, but Capital One’s terms and conditions didn’t say what the exchange rate is.
Reimbursement for Expedited Security Programs
The card’s final main reward is that you’ll be reimbursed for the application fees you pay to apply to the PreCheck or Global Entry program, which, if your application is approved, allow you to get expedited security check-ins the day of your flight.
Basically, you’ll apply for one of the programs, pay with your Venture card and Capital One will reimburse you. The fee will be either $100 for Global Entry or $85 for PreCheck.
Rates, Fees, and Other Fine Print
A credit card’s rates and fees can put the card over the top or it can hinder it from finding its way into your wallet. The fees and interest rates we’ve listed below are the ones we feel are most important to your everyday life.
You’ll pay $0 the first year and $95 every year after that.
Late, Transfer, and Cash Advance Fees
Fees are up to $38 for every late payment late or returned payment you make. Balance transfers don’t have a fee and will have an APR of 14.74%-24.74%.
You can expect to be charged a 3% transaction fee for the transfer when you’re using a promotional rate, which is a rate that Capital One offers to you during the course of your relationship with them.
If you’re just doing a straight-up balance transfer without a promotional rate, you won’t pay a balance transfer fee.
For purchases, your APR will range from 14.74% to 24.74% depending on your creditworthiness. The Venture’s low-end APR is excellent and, based on our research, is superior to all but one of the leading travel rewards credit cards: the Discover it Miles.
Factors That May Prevent You from Getting the Venture Card
Are you worried you might be rejected for a Capital One Venture card? The company has a long list of reasons for immediate rejection.
We’ve pared it down to five you should know about up front. You’ll get the “No thank you!” if you fall into one of these five categories:
- You live outside the United States, Washington D.C. or a U.S. military location.
- Your monthly income doesn’t exceed your rent/mortgage by at least $425
- You are under 18 years old
- You have 5 or more cards with Capital One
- You have a Capital One card that’s past due.
As a side note, Capital One’s own website says the card is for people with “excellent credit.”
By their standards, that means you haven’t had a 60-day delinquency in the past year, you’ve never defaulted on a loan, you haven’t declared bankruptcy and you have a loan/credit card with a limit above $5,000 for at least three years.
The Final Word: Pros and Cons of the Capital One Venture
In our opinion, the Capital One Venture is the best travel credit card out there for someone with a good credit score who doesn’t carry balances and doesn’t pay late. We’ve come to this conclusion based on several factors.
Second, the 2x rewards rate on all purchases means that you’re going to earn more cash rewards with this card year-in and year-out than you will with any other travel card we’ve reviewed that has an annual fee of less than $100.
Of course, this card may not be for everyone, especially consumers who have a hard time paying off their balance on time and in full every month. The fees you pay in interest may outweigh the rewards dollars you get back.
While the card’s interest rate isn’t bad, it is higher than the Discover it Miles. If you tend to carry a balance, the Discover card may be a better choice.
If you want to learn more about other travel cards we think are among the best, then take a few minutes to read our guide to the best travel rewards credit cards of 2018. You’ll get an expert analysis of which travel cards are best overall and which ones work best in certain situations.