Writer: Erica Sandberg
Editor: Jon McDonald
Reviewer: Ashley Fricker
Disclosure: When you apply through links on our site, we may earn a referral fee from our partners. For more, see our ad disclosure and review policy.
Why wait to get the tools that can help you safely and quickly build the life you want? If you like to travel, a great credit card is definitely a good addition to your toolbox.
The Capital One Venture Rewards Credit Card is loaded with features that can make your life at home and on the road less expensive and more convenient. How do I know? I’m a long-time Capital One Venture Rewards Credit Card holder.
This card comes with a substantial signup bonus, and racking up miles as you charge is as easy as redeeming them. The perks and benefits outweigh the modest annual fee, so I never have to worry about getting more from the account than the amount it’s costing.
I’ll walk you through my experience and give you some insights on the application process, rewards redemptions, and how you can use the card.
Why I Chose The Capital One Venture Rewards Credit Card
Every credit card you open requires attention. How much you can handle is up to you, but because I prefer to streamline my accounting business, I have only three accounts in my plastic portfolio.
The Capital One Venture Rewards Credit Card is among them. I opened it well over 10 years ago when I was looking for a general-purpose travel card that came with a great rewards program and the right perks.
Additionally, I wanted to work with a credit card issuer that offered a travel portal so I could book flights and hotel arrangements with accumulated miles or money. Reducing complications means more time for fun.
- Earn a one-time bonus of 75,000 miles once you spend $4,000 on purchases within 3 months from account opening, equal to $750 in travel
- Earn unlimited 2X miles on every purchase, every day
- Earn 5X miles on hotels, vacation rentals and rental cars booked through Capital One Travel
- Miles won’t expire for the life of the account and there’s no limit to how many you can earn
- Receive up to a $120 credit for Global Entry or TSA PreCheck®
- Use your miles to get reimbursed for any travel purchase—or redeem by booking a trip through Capital One Travel
- Enjoy a $50 experience credit and other premium benefits with every hotel and vacation rental booked from the Lifestyle Collection
- Transfer your miles to your choice of 15+ travel loyalty programs
- Top rated mobile app
Many travel accounts have high annual fees, but not the Capital One Venture Rewards Credit Card, which has a very reasonable $95 annual fee. It’s important to get more out of the card than it costs, and to do that, you have to pay attention to the rewards and benefits.
Cards that have fees in the hundreds of dollars may offer elevated benefits, but they’re not always necessary. A concierge who will get me into the hottest restaurant sounds nice, but in reality, I wouldn’t use the service.
As a travel card holder, I don’t need the account to be too complicated. Just let me rack up the miles as I charge and offer a few choice perks, such as no foreign transaction fees and access to the Capital One Travel Portal.
Because this is not a co-branded card tied to a specific airline or hotel brand, it offers maximum flexibility.
Since I opened this card so long ago, I can’t recall exactly how much the signup bonus was, but I know I hit the minimum spend and then used the miles for a trip. As of writing this review, the bonus is 75,000 miles after spending $4,000 on purchases within the first three months after opening the account.
If you don’t have a vacation or other extra purchase waiting in the wings to hit that threshold, calculate the amount you spend on regular expenses that you typically pay for with cash in your checking account. Groceries, gas, drugstore items, and the occasional restaurant meal may get you there.
Certainly, I’m not alone with my habits and preferences, making this card super appealing to many who want to streamline their lives while reducing the cost of traveling.
How to Apply For the Card
Applying for this card is simple, but be aware that Capital One has four Venture card options:
- Capital One Venture Rewards Credit Card
- Capital One VentureOne Rewards for Good Credit
- Capital One VentureOne Rewards Credit Card
- Capital One Venture X Rewards Credit Card
I’d double-check to make sure I click on the image of the blue card that only has “Venture” written under the silver square.
After clicking on the card, I’m routed to the screen with two buttons below the card in dark green: “See if I’m Pre-Approved” and “Apply Now.”
If you want to know if this card may be a good fit for your credit profile, I’d recommend the pre-approval process.
Once I complete the online form, I’ll receive a notice about my likelihood for acceptance, as well as some suggestions for other cards that I may be interested in.
I can also go straight to the application form by clicking the “Apply Now” button. Once I’m in, I go through the following five steps:
Step 1: Name, Social Security, Date of Birth, and Citizenship
I add my name, Social Security number, date of birth, and answer a question about my citizenship status.
Step 2: Residential Address, Email, and Phone Number
I input my contact information, complete with my home address, email address, and phone number.
Step 3: Employment, Income, and Housing Costs
In this step, I need to list my employment status, annual income, monthly rent/mortgage, the type of bank accounts I have, and whether I intend to use the card for cash advances.
Step 4: Add an Authorized User
If I want to assign an authorized user to the account, I can add that person’s name, date of birth, and Social Security number. I can also do this later if I want, but this step makes it easier for those who already plan to add someone
Step 5: Review Personal Information
This is where I review all of the information I input. If everything is accurate, I can simply move on to the last step.
Step 6: Read Terms and Submit the Application
The last step includes my communication and language preferences, but this is also where you need to read the Important Disclosures. This is where all of the granular information about the card resides, and it is very important, as its name implies.
I also have the option to download or print the disclosures, which I recommend for quick reference. Once I select my preferences and read the disclosures, I can submit the application and wait for a decision, which often only takes a few seconds.
Now, For The Fine Print
Details, details, details! You want and need them, so I’ve compiled the highlights. Anyone planning to apply needs to understand what they’re signing up for, so here’s a quick look at what to expect:
Annual Fee
The annual fee is $95. Although some issuers will waive the annual fee in the first year for certain products, this is not one of them. The only exception is if you are an active-duty military member and qualify under the Servicemembers Civil Relief Act.
APR
You’ll be charged a 19.49% - 28.49% (Variable) APR if you maintain a balance. The APR you get depends on your credit rating at the time of application. The better your credit, the lower the interest rate.
Earning Rewards
You will earn 2 miles for every dollar on net purchases (cash advances are not included), but 5 miles when you use your card to make purchases through Capital One Travel and Capital One Entertainment.
Check out this slide bar tool that demonstrates how much you can earn based on your spending.
Cash Advances
A variable APR will be charged on cash advances, as well as a fee of either $5 or 5% of the amount of each cash advance, whichever is greater. Interest starts on the transaction date, too. The exact APR changes frequently (it will be equal to or greater than your purchase APR), so be sure to check the terms before withdrawing a cash advance.
Credit Limit
That is determined after Capital One reviews your application and ability to pay. The better your credit score and the higher your income, the greater your credit line will be.
Signup Bonus
At the time of writing this review, you can earn 75,000 bonus miles. You will get the bonus after spending at least $4,000 within three months of your rewards membership enrollment date. Once done, Capital One will apply the miles to your rewards balance within two billing cycles, and you can redeem them any time.
Travel Partners
Ready for all those travel partners? For airlines, EVA Air offers a 2:1.5 transfer ratio, and JetBlue offers a 5:3 transfer ratio. The rest of these offer a 1:1 conversion ratio, they include:
- Aeromexico Rewards
- Air Canada Aeroplan®
- Avianca LifeMiles
- British Airways Executive Club
- Cathay Pacific Asia Miles
- Emirates Skywards
- Etihad Guest
- Finnair Plus
- Flying Blue
- Qantas Frequent Flyer
- Singapore Airlines KrisFlyer
- TAP Miles&Go
- Turkish Airlines Miles&Smiles
- Virgin Red
Capital One’s hotel transfer partners are Accor Live Limitless, which offers a 2:1 conversion ratio, and Choice Privileges and Wyndham Rewards, both of which offer a 1:1 conversion ratio.
Potential Real-Life Users Who Could Benefit from the Capital One Venture Rewards Credit Card
There are so many ways to use this card effectively. I’ve made a list of a few scenarios when the Capital One Venture Rewards Credit Card could be a really good fit.
While these aren’t real people, the situations are all to common, to the point that you might even think I’m writing about you! But rest assured, they are only examples:
A Couple Preparing to Get Married
Emma and Chris are on a budget, but lucky for them, Emma’s parents are picking up most of their wedding expenses. Their portion, accounting for the cake, gown, and tux rental, is just over $4,000.
Although they have scrimped and saved enough to pay their portion in cash, Chris applies for the Capital One Venture Rewards Credit Card, and uses it to charge the remainder, which they immediately pay off with their savings to avoid any interest fees.
What do they have coming up after the wedding? A romantic two-week trip to Rome for their honeymoon, which will cost about $8,000.
The Capital One Venture Rewards Credit Card could reduce the cost of a honeymoon in Rome thanks to its miles bonus.
But good news! After charging more than $4,000 to that card soon after they opened it, they met the card’s minimum spend, earning a generous 75,000 bonus miles.
Those miles are worth about $1,000 when they’re used with Capital One’s airline and hotel transfer partners, reducing the net cost of their honeymoon to $7,000.
A Young College Graduate
Lili got a secured credit card and a car loan while she was studying at UCLA, and worked hard to establish an impeccable credit history. By the time she graduated, her credit scores were over 800, qualifying her for the Capital One Venture Rewards Credit Card.
To relax after four years of rigorous schooling, Lili decided to have fun by following Taylor Swift around the country, belting out Getaway Car along the way.
You don’t have to travel abroad to benefit from the Capital One Venture Rewards Credit Card. Cardholders can take advantage of its perks and rewards even if they’re just taking a road trip across the U.S.
She started in her hometown of Los Angeles and then ended up in New Orleans, using the card for all of her accommodations and car rentals, which she booked through the Capital One travel portal.
This enabled Lili to earn 5X the miles on those expenses. By charging $5,000 she racked up 25,000 miles! That was just enough for Lili to book a one-way ticket back home for free.
The Basic Globe Trotter
Dave is a world traveler, but not looking for anything fancy. He’s not interested in luxurious airport lounges, concierge services, or even free bag checks.
Instead, he’s the rough and tumble foodie type, sleeping in yurts or under the stars. Throw a backpack into the overhead and Dave is good to go. What he wants in a travel credit card? No foreign transaction fees.
Globetrotting cardholders don’t pay foreign transaction fees and get reimbursed for Global Entry, which can make air travel much more convenient.
So whether he’s in Dalanzadgad or Ollantaytambo, he can avoid those extra costs that really add up. Since Dave is bouncing around the world, he also uses the Capital One Venture Rewards Credit Card’s statement credit of $120 for Global Entry, enabling him to zip through customs without delay.
The $95 annual fee is easily offset by the rewards he earns along the way. Dave uses this card for pretty much everything, spending around $2,500 a month. At an unlimited 2X miles for each dollar he charges, he earns 60,000 miles annually, setting him up for his next Anthony Bourdain-style adventure.
Now, Let’s Hear From Other Cardholders
It’s easy to find a variety of opinions about the Capital One Venture Rewards Credit Card online, especially on Reddit and YouTube.
The majority are positive, but you may find the occasional review that expresses concerns in ALL CAPS. I always take those with a grain of salt, as the reviewers were clearly angry when they logged on to give their opinion.
Here are a few more insightful takes on the Capital One Venture Rewards Credit Card (without the venting):
Reddit user ZebrasOfDoom writes: “Check their pre-approval tool. It is pretty accurate on whether you will or won’t get approved in a real application. The only downside to a rejected application is a hard pull (through all 3 bureaus with Capital One), which will only dock your score a few points until it drops off. You don’t want to rack up a ton of hard pulls, but one won’t really do much. You won’t get a hard pull until you apply, though (the pre-approval won’t give you one).”
Another Reddit user added: “I have been using it for over 2 years now and I think it’s the best bang for buck when it comes to the premium travel cards. Their travel portal is decent. They do price matching on flights so easy 5x miles there.”
YouTube creator A Penny Pincher’s Guide to Personal Finance also praises the Capital One Venture Rewards Credit Card for its generous signup bonus and low annual fee. He explains that the bonus can actually offset the annual fee for years to come. Definitely worth a watch.
Capital One Venture Rewards Credit Card Rating: 4.8/5
Because I have had this card for so long, I am confident in giving it a high rating. The Capital One Venture Rewards Credit Card is easy to use, the miles are simple to redeem, and I love the travel portal for booking flights and accommodations.
| Category | Rating (1-5) | Reason |
|---|---|---|
| Rewards value | 5 | Unlimited 2X miles on everything you purchase with the card, but 5X on hotels, vacation rentals, and rental cars you book via Capital One Travel, and 5X miles on purchases through Capital One Entertainment. With regular and extra charging, you will rack up the miles quickly. They are worth at least one cent per mile. |
| Signup bonus | 5 | At the time of publication, cardholders receive a generous bonus for spending at least $4,000 with the card in three months after account opening. The bonus is worth at least $750 in redemption value. |
| Transfer partners | 5 | You can really come out ahead with Capital One’s transfer partners. To transfer your rewards, you’ll need at least 1,000 Capital One miles. Its airline partners include JetBlue, Air Canada, British Airways, Singapore Airlines, and Emirates, just to name a few. Hotel partners are Accor Live Limitless, Choice Privileges, and Wyndham Rewards. |
| Additional perks | 4 | There are no foreign transaction fees. It comes with valuable credits, such as $120 credit for Global Entry or TSA PreCheck and $50 when you book a Lifestyle Collection stay. This card doesn’t offer airport lounge access, though, nor can you check your luggage for free. |
| Customer service | 5 | I’ve always had good experiences with Capital One customer service. Their representatives are knowledgeable and helpful. The Capital One mobile app is also excellent. |
As long as you use the card regularly and pay off the balance in full, the $95 annual fee is swiftly made up for in rewards. With at least 2X the miles earned on purchases, profiting from the process is a breeze.
Overall Pros and Cons
When you’re trying to decide whether or not a new credit card makes sense for you, check the pros and cons. Here is my list for the Capital One Venture Rewards Credit Card.
You’ll earn a nice miles bonus for meeting an early spending threshold, and it could be worth $1,000 in travel. I also love that I can earn 2X miles on all purchases and 5X miles on bookings through Capital One Travel and Entertainment and redeem miles through various airline and hotel transfer partners.
Pros
- Generous signup bonus
- Flexible rewards program
- Low annual fee
Cons
- Potentially high APR
- Limited premium perks
- High minimum spend for bonus
Another huge benefit is the annual fee, which is modest compared to other travel cards. And the included perks can easily offset that cost, too.
As for the potential drawbacks, although the APR falls within the current average range, it could make carrying a balance expensive. So it might not be a great card for someone planning to extend their debt. And unlike elite travel cards with higher annual fees, this card doesn’t come with the high-end benefits of airport lounge access or concierge services.
Some cardholders may also find the minimum spend too prohibitive, especially if they’re planning to only use it for small expenses. But as I mentioned earlier, the pros far outweigh the cons for me, so it all depends on your needs and expectations. Oh, and your finances, of course.
Would I Recommend the Capital One Venture Rewards Credit Card? Absolutely, and I Have
Not only would I recommend the Capital One Venture Rewards Credit Card, but I have done so many times. In fact, I recently suggested it to my travel-obsessed daughter. Her credit score should be high enough to qualify, and because she likes to visit far-flung countries, the Global Entry credit perk will help her save time and money.
I do tell everyone to be aware of all the eligibility rules before they apply, though. You can’t have declared bankruptcy or defaulted on a loan, be more than 60 days late on any credit card, medical bill, or loan in the last year. You also need to have had a loan or credit card for at least three years with a credit limit above $5,000.
Not only would I recommend the Capital One Venture Rewards Credit Card, but I have done so many times. In fact, I recently suggested it to my travel-obsessed daughter.
In my opinion, the Capital One Venture Rewards Credit Card is an excellent addition to a co-branded account. For example, you may have at least one credit card that is connected to a specific airline that offers free checked bags and entry into its airport lounge. However, you may find that the airline doesn’t offer flights to all of your desired destinations.
A general travel account, such as the Capital One Venture Rewards Credit Card, is perfect for all the other airlines you may want to fly on.
That said, I actively dissuade people from applying for this card if they have no plans to travel in the near or far future. There are other cards you can get that don’t have annual fees but do have some travel perks (like no foreign transaction fees), so there are no downsides to adding one to your wallet.
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