Business Insider's personal finance team evaluated the VentureOne Rewards Card alongside the top no-annual-fee cards and found it to be a standard choice, as other options offer more competitive rewards. However, this card distinguishes itself with standout perks like competitive travel pricing through Capital One Travel.
Capital One VentureOne Overview
$0
0% intro APR on purchases and balance transfers for 15 months (intro fee of 3% for the first 15 months, then 4% of the amount of each balance transfer at a promotional APR that Capital One may offer you at any other time)
19.24% - 29.24% Variable
Earn 20,000 miles
Good to Excellent
- No annual fee or foreign transaction fees
- Versatile rewards
- Earn 1.25 miles per dollar on all purchases with no bonus categories to track
- Lower earning rate than some other no-annual-fee rewards cards
- Limited benefits
The VentureOne Rewards Card is a slimmed-down version of the popular Capital One Venture Rewards Credit Card. It's one of the few no-annual-fee cards on the market that gives you the option to redeem miles for cash back or transfer them to travel partners.
- $0 annual fee and no foreign transaction fees
- Earn a bonus of 20,000 miles once you spend $500 on purchases within 3 months from account opening, equal to $200 in travel
- Earn unlimited 1.25X miles on every purchase, every day
- Miles won't expire for the life of the account and there's no limit to how many you can earn
- Earn 5X miles on hotels and rental cars booked through Capital One Travel, where you'll get Capital One's best prices on thousands of trip options
- Use your miles to get reimbursed for any travel purchase—or redeem by booking a trip through Capital One Travel
- Transfer your miles to your choice of 15+ travel loyalty programs
- Enjoy 0% intro APR on purchases and balance transfers for 15 months; 19.24% - 29.24% variable APR after that; balance transfer fee applies
Capital One VentureOne Rewards
Capital One VentureOne Welcome Offer
New cardholders can earn 20,000 miles after spending $500 on purchases within three months from account opening. This is a decent welcome offer for a no-annual-fee card, and it can help jump-start a travel rewards redemption with your Capital One miles.
Earning Miles with the Capital One VentureOne Card
The VentureOne Rewards Card earns 1.25 Capital One miles per dollar on everyday purchases and an impressive 5 miles per dollar on hotels and rental cars booked through Capital One Travel.
We like that you'll earn more than the standard 1 point/mile per dollar on each purchase you make, but the 5x category is limited by the fact that you have to book through Capital One's travel portal.
Redeeming Miles with the Capital One VentureOne Card
With the Capital One VentureOne Rewards Credit Card, you have several flexible options for redeeming your miles:
Cover travel purchases: You can use your miles to cover travel-related expenses, such as hotel stays and other travel purchases made within the last 90 days. This feature effectively allows you to erase recent travel purchases from your statement.
Transfer to partner loyalty programs: Capital One enables you to transfer miles to over 15 airline and hotel loyalty programs. This option can unlock valuable redemptions and potentially allow you to upgrade to first-class flights or stay at premium hotels.
Book travel: Use your miles to book flights, hotels, and rental cars directly through Capital One Travel. When booking, you can earn unlimited 5 miles per dollar on select hotels and vacation rentals, further enhancing your rewards.
Gift cards: Not planning any immediate travel? You can redeem your miles for gift cards from more than 90 brands, including popular retailers and restaurants. This option is great for gifts or treating yourself.
Cash back options: If you prefer cash, you can redeem miles for statement credits or checks. Statement credits can be processed within two to three business days, while checks are typically mailed within three business days and can take up to two weeks to arrive.
Shopping with miles: Your miles can also be used for purchases at Amazon or through PayPal, allowing you to use your rewards for everyday shopping.
Exclusive events and experiences: With Capital One Entertainment, eligible cardholders can redeem miles for access to over 500,000 events, including concerts, sporting events, and exclusive experiences, adding a unique dimension to how you can use your rewards.
Some standouts on this list are Avianca LifeMiles, which offers very affordable Star Alliance business class rates between the U.S. and both Europe and Asia, and Aeroplan, which does the same but adds a unique complement of international partner airlines, like Etihad.
Capital One VentureOne Card Fees and APR
Annual Fees
The VentureOne Rewards Card has no annual fee, making it a cost-effective choice for travelers looking to earn rewards without ongoing costs.
APR Rates
The card features a 0% intro APR on purchases and balance transfers for 15 months (intro fee of 3% for the first 15 months, then 4% of the amount of each balance transfer at a promotional APR that Capital One may offer you at any other time). After that, the APR is 19.24% - 29.24% Variable.
Other Associated Fees
There are no foreign transaction fees on the VentureOne Rewards Card, which is advantageous for international travel. However, late payment fees may apply, and balance transfer fees are typically 3% of the transfer amount.
Capital One VentureOne Card Benefits and Features
No Foreign Transaction Fees
Enjoy the freedom to travel abroad without incurring additional costs, as the VentureOne card imposes no foreign transaction fees.
Additional Perks and Services
The card includes features such as travel accident insurance and access to Capital One's travel portal for easy booking and redeeming of rewards.
Additionally, through Capital One Dining, cardholders can enjoy exclusive benefits like hard-to-get reservations and tickets to special dining events and chef collaborations.
Capital OneVentureOne Card Alternatives
Capital One VentureOne vs. Chase Freedom Unlimited®
While the Capital One VentureOne card focuses on travel rewards, the Chase Freedom Unlimited® offers a broader range of earning opportunities but is not classified as a travel credit card.
The Chase Freedom Unlimited® earns 1.5x Ultimate Rewards points on all purchases, slightly outpacing VentureOne's 1.25x rate. Moreover, it provides 5x Ultimate Rewards points on travel booked through the Chase Travel℠ portal, appealing to those who frequently use Chase for their travel arrangements. However, it requires users to navigate multiple bonus categories, which can complicate reward maximization compared to VentureOne's straightforward earning structure.
Both cards feature a 0% introductory APR for the first 15 months, allowing users to carry a balance without interest during that period (then a 19.49% - 28.24% Variable APR for Chase Freedom Unlimited® and a 19.24% - 29.24% Variable APR for VentureOne Rewards Card). They also share a no-annual-fee structure, making them accessible options for cost-conscious consumers. While the introductory bonus of additional 1.5% cash back on everything you buy (on up to $20,000 spent in the first year) for Chase Freedom Unlimited® may attract new cardholders, the lack of transfer options for points to travel partners limits flexibility. If you have a more premium Ultimate Rewards-earning card, you will have access to Chase transfer partners.
Chase Freedom Unlimited Review
Capital One VentureOne vs. Discover it® Miles
The Discover it® Miles card is a competitive alternative to the VentureOne Rewards Card, offering 1.5x miles on every purchase.
A standout feature of Discover it® Miles is its unique welcome offer; it automatically matches all the miles you've earned at the end of your first year with no limits. This can significantly boost your rewards potential, especially for new cardholders looking to accumulate miles quickly. The Discover it® Miles card also has no annual fee.
Unlike the Discover it® Miles, the VentureOne Rewards Card has another bonus category beyond its flat earning rate: 5 miles per dollar on hotel and rental car purchases booked through Capital One Travel.
Both cards enable cardholders to redeem miles not only for travel purchases but also for statement credits on various everyday expenses, such as gas, restaurants, and rideshares. Overall, both cards cater to no-annual-fee rewards enthusiasts, but the choice largely depends on whether users prefer straightforward miles accumulation or the potential for matched rewards after the first year.
Capital One VentureOne vs. Bank of America® Travel Rewards Credit Card
The Bank of America® Travel Rewards credit card offers a competitive rewards structure similar to the VentureOne Rewards Card, providing 1.5 points per dollar spent on all purchases. Additionally, it features a welcome bonus of 25,000 online bonus points after making at least $1,000 in purchases in the first 90 days of account opening. This makes it an attractive option for new cardholders seeking to maximize their initial rewards. Both cards have no annual fee, allowing users to earn rewards without extra costs.
While both cards emphasize simplicity in their rewards structures, the VentureOne Rewards Card stands out with its 5 miles per dollar on hotel and rental car purchases made through Capital One Travel, which can significantly boost rewards for frequent travelers who don't mind booking through the card issuer's travel portal.
Although the Bank of America card offers a straightforward single category for earning points, making it easier to understand, it lacks the travel-focused bonuses of the VentureOne Rewards Card. Additionally, both cards have no foreign transaction fees, ideal for international travelers.
Bank of America Travel Rewards Card Review
Capital One VentureOne Credit Card Pros and Cons
Advantages of the Capital One VentureOne Credit Card
The VentureOne Rewards Card comes with several significant advantages, making it an attractive choice for those seeking a straightforward rewards program.
One of its primary benefits is that it has no annual fee or foreign transaction fees, allowing users to earn rewards without worrying about extra costs.
Additionally, the card offers a seamless rewards structure, allowing cardholders to earn 1.25 miles per dollar on all purchases without the hassle of tracking bonus categories.
With a compelling bonus offer of 20,000 miles after spending $500 on purchases within three months from account opening, cardholders can kickstart their rewards accumulation quickly. Furthermore, the ability to earn 5 miles per dollar on hotel stays and rental cars booked through Capital One Travel enhances the card's appeal for travelers.
Potential Drawbacks and Considerations
Despite its advantages, the VentureOne Rewards Card has a few potential drawbacks.
One notable consideration is its lower earning rate compared to some other no-annual-fee rewards cards, such as the Chase Freedom Unlimited®, which offers 1.5 points per dollar on all purchases and 3x points on dining.
Additionally, while the card provides a solid rewards program, its overall benefits may be more limited compared to cards that offer a wider range of travel perks and premium features such as lounge access and enhanced rewards on dining and other travel expenses. This might make it less appealing for frequent travelers who prioritize comprehensive travel benefits.
Capital One VentureOne Card Customer Reviews and Ratings
Consumer feedback on the VentureOne Rewards Card has been mixed, as reflected in online discussions on platforms like Reddit and FlyerTalk.
Many users appreciate the no foreign transaction fees and the straightforward earning structure, which eliminates the hassle of tracking rotating bonus categories. Travelers find these features convenient, especially for international use.
However, a common frustration is the 1.25 miles per dollar earning rate, which many feel falls short compared to other no-annual-fee competitors like Chase Freedom Unlimited® and Chase Freedom Flex® . These competing cards offer more generous rewards in specific categories, leading some users to view the VentureOne Rewards Card as underwhelming for those seeking to maximize travel rewards. Many reviews express disappointment, suggesting the card doesn't offer the same value or perks expected from a travel rewards card.
How to Apply for the Capital One VentureOne Rewards Card
Step-by-Step Guide to Applying for the Capital One VentureOne Credit Card
Check eligibility: Before applying, ensure you meet the basic eligibility requirements, including a good credit score (generally 670 or higher) and a stable income.
Gather necessary information: Prepare personal information such as your Social Security number, annual income, employment details, and housing status. This information will be required during the application process.
Visit the website: Go to the official Capital One website or your preferred bank's portal to find the VentureOne Credit Card application page.
Complete the application form: Fill out the online application form with the required details. Be sure to review your information for accuracy before submitting.
Submit the application: After completing the form, submit your application. You may receive an instant decision or a notification that your application is under review.
Follow up: If you do not receive an immediate decision, you can check the status of your application through the Capital One website or by contacting customer service.
Approval Odds and Tips for a Successful Application
When applying for the VentureOne Rewards Card, you should note that one of the primary considerations to the issuer is your creditworthiness. Lenders assess this through your credit score and history. To improve your chances, maintain a good credit utilization ratio — ideally below 30% — and ensure that you make timely payments on existing debts.
This card is designed for individuals with excellent credit, which, according to Capital One, typically means you've never declared bankruptcy, haven't been more than 60 days late on any payment in the past year, and have had a loan or credit card for at least three years with a credit limit over $5,000.
Capital One VentureOne Card Frequently Asked Questions
The VentureOne Rewards Card stands out for offering no annual fee, no foreign transaction fees, and 1.25 miles per dollar on all purchases. It also earns 5 miles per dollar on hotel and rental car bookings, but only through Capital One Travel. It features a competitive introductory bonus, and miles can be redeemed for various travel expenses or transferred to travel partners.
The VentureOne Rewards Card could be worth it if you're seeking simple, flexible rewards without an annual fee. However, its 1.25 miles per dollar earning rate falls short compared to other no-annual-fee cards that offer higher rewards in specific categories like dining or groceries. Additionally, while it provides value through select travel perks, it doesn't provide comprehensive travel perks like other premium travel cards with annual fees.
To maximize the benefits of the VentureOne Rewards Card, use it regularly for everyday purchases to accumulate miles. Redeem your miles for travel-related purchases or transfer them to travel partners for potentially better value. Additionally, enjoy no foreign transaction fees when traveling internationally, and travel with confidence knowing the card offers travel protection benefits. Stay alert for promotional offers to earn extra miles and pay your balance in full to avoid interest charges, ensuring you maximize the value of your rewards.
You will likely be considered for the Capital One VentureOne Rewards Credit Card if you have an excellent credit score — that is, a FICO score of at least 800. If your score isn't in that range yet, read our guides about improving your credit score and how to how to build credit with a credit card. In addition, Capital One defines excellent credit as never having declared bankruptcy or defaulted on a loan, been more than 60 days late on any credit card, medical bill, or loan in the last year, and having had a loan or credit card for three years or more with a credit limit above $5,000.
Yes, you may be able to upgrade a VentureOne Rewards Card to a different Venture card. Capital One may consider you for an upgrade to a card like the Capital One Venture Rewards Credit Card or Capital One Venture X Rewards Credit Card — if you're eligible, you'll see an upgrade offer in your account; otherwise, you'll have to call and ask, and there are no guarantees.
No, unlike the Capital One Venture Rewards Credit Card and Capital One Venture X Rewards Credit Card, the Capital One VentureOne Rewards Credit Card is not metal. It's made of plastic.
Why You Should Trust Us: How We Reviewed the Capital One VentureOne Credit Card
Our credit cards team reviewed the VentureOne Rewards Card in comparison to similar no-annual-fee travel credit cards. We evaluated the card based on several factors, including:
Ease of use — Is it easy for beginners and experts to navigate earning and redeeming rewards? Are there numerous options for using miles?
Earning potential — Does the card have useful, generous bonus categories or is there a strong flat rate of rewards earning? Do any of the bonus categories have a spending cap?
Fees — Even without an annual fee, are there other fees to be aware of, like foreign transaction fees or a high APR?
Benefits — Does the card come with perks that make it stand out compared to similar cards, such as travel or purchase protections?
You can find out more about Business Insider's methodology for picking the best credit cards, in our guide to how we rate credit cards.
