The Capital One Venture card earns 2 miles per dollar spent and a $95 annual fee which is waived the first year. It offers plenty of value and ease of use.
Editor’s note: This post was originally published in July 2019. It’s been freshened up with new pictures and commentary on February 3, 2020.
- Card summary
- Benefits and perks
- Offers, fees, and interest rates
- Recommended credit level
- How to earn miles
- Redeeming miles
- Transfer partners
- Erase travel purchases
For a $95 annual fee that’s waived the first year, this card earns 2 miles for each dollar you spend. The Venture card offers a high reward rate, airline transfer partners, and valuable travel benefits.
Related: Best premium credit cards
Benefits and perks
The Capital One Venture Rewards card stands out because it offers up to $100 credit for Global Entry or TSA PreCheck for an annual fee of $95 that’s waived the first year. Other cards that offer this credit have an annual fee of at least $400.
It’s also great if you travel or make purchases internationally because there are no foreign transaction fees. You can use this card outside of the United States without racking up a bunch of fees.
You’ll also get the following travel benefits:
- Travel accident insurance.
- 24-hour travel assistance services.
- Auto rental collision damage waiver.
Aside from travel perks, you’ll also get shopping benefits. WikiBuy, Paribus, and extended warranty shopping perks that this card offers.
WikiBuy finds coupon codes, Paribus finds potential savings on your previous online purchases and you’ll get an extended warranty for eligible purchases.
The warranty doubles the manufacturer’s warranty up to one extra year for warranties of three years or less. The maximum is $10,000 per claim and $50,000 per cardholder.
Protecting your card number is important for online shopping. To help keep your card number secure, Capital One offers Eno for online purchases which gives you a virtual card number to make online purchases.
Offers, fees, and interest rates
Annual fee: $0 intro for the first year then $95 after that.
Bonus offer: 50,000 miles after spending $3,000 within the first 3 months from account opening.
APR for purchases: 17.24% to 24.49%, based on creditworthiness.
APR for cash advance: 24.49%.
Foreign transaction fee: None.
Recommended credit level
According to Capital One’s website, you need excellent credit to get approved for this card. Capital One also shares that you may have excellent credit if you can be described by the following guidelines:
- Never declared bankruptcy or defaulted on a loan.
- Haven’t been more than 60 days late on any credit card, medical bill, or loan in the last year.
- Had a loan or credit card for 3 years or more with a credit limit above $5,000.
How to earn miles
With the Venture card, earning miles is straightforward. You get 2 miles per dollar you spend without a cap.
If you book a hotel or rental car through Capital One Travel and use your Venture card to pay, you get 5 miles per dollar spent.
Capital One miles can be redeemed for the following purposes:
- Booking a trip.
- Cover travel purchases.
- Get gift cards.
- Get statement credit or a check.
- Transfer to another account holder.
- Transfer to a loyalty program.
Capital One miles can be transferred to the following loyalty programs:
|Accor||1,000 Capital One miles = 500 ALL Rewards points|
|Aeromexico Club Premier||1,000 Capital One miles = 750 Premier points|
|Air France KLM Flying Blue||1,000 Capital One miles = 750 Flying Blue miles|
|Air Canada Aeroplan||1,000 Capital One miles = 750 Aeroplan miles|
|Alitalia MilleMiglia Program||1,000 Capital One miles = 750 MilleMiglia miles|
|Asia Miles||1,000 Capital One miles = 750 Asia miles|
|Avianca LifeMiles||1,000 Capital One miles = 750 LifeMiles|
|Emirates Skywards||1,000 Capital One miles = 500 Skywards miles|
|Etihad Airways Etihad Guest||1,000 Capital One miles = 750 Etihad Guest miles|
|EVA Air Infinity MileageLands||1,000 Capital One miles = 750 Infinity MileageLands miles|
|Finnair Plus||1,000 Capital One miles = 750 Finnair Plus award points|
|Hainan Airlines Fortune Wings Club||1,000 Capital One miles = 750 Fortune Wings Club points|
|JetBlue TrueBlue||1,000 Capital One miles = 750 TrueBlue points|
|Qantas Frequent Flyer||1,000 Capital One miles = 750 Qantas points|
|Qatar Airways Privilege Club||1,000 Capital One miles = 750 Qmiles|
|Singapore Airlines KrisFlyer||1,000 Capital One miles = 500 KrisFlyer miles|
|Wyndham||1,000 Capital One miles = 750 Wyndham Rewards points|
Erase travel purchases
To redeem your miles at a fixed rate, use the Purchase Eraser to cover travel purchases that were made with the card in the last 90 days. When you erase your travel purchases, each mile is worth one cent.
To reimburse your travel purchases, follow these steps:
- Login to your Capital One account.
- Click View Account.
- Click View Rewards.
- Click Cover Your Travel Purchases.
- Select the transaction.
- Enter the amount that you’d like to redeem.
Note: Erasing travel purchases will lower your account balance but doesn’t count as a payment.
The Capital One Venture Rewards card is a fantastic card but there are other great cards that have an annual fee that’s less than $100 too.
The Chase Sapphire Preferred is another popular card that earns 2 points for each dollar on travel and dining and 1 mile per dollar spent on everything else.
The Amex EveryDay® Preferred credit card has an annual fee of $95 and earns 3 points per dollar spent at US supermarkets, 2 points per dollar spent at gas stations in the US, and 1 point per dollar spent on all other purchases.
Citi offers the Citi Premier card which earns 3 points per dollar spent on travel, 2 points per dollar spent on restaurants and entertainment, and 1 point per dollar spent on all other purchases.
If you’re serious about traveling and want a straightforward rewards program, the Capital One Venture card is a great option. Your miles won’t expire for the life of the account and there’s no cap for how much you can earn.
Additional credit card resources
Want to learn more about different credit cards? The following are a few more resources:
Featured photo by David Em/Next Level Gents.
Disclaimer: Opinions expressed here are the author’s alone, not those of any bank or credit card issuer. The content on this page is not provided by any entity mentioned. They have not been reviewed, approved or otherwise endorsed by any of these entities.