Capital One Venture Rewards Credit Card overview
The Capital One Venture Rewards Credit Card effortlessly blends fixed-value redemptions with 15-plus airline and hotel transfer partners. Its solid return on everyday spending makes this card a keeper once you're approved for it. Card rating*: ⭐⭐⭐⭐½
*Card rating is based on the opinion of TPG's editors and is not influenced by the card issuer.
The world of award travel is incredibly complex. There are airline miles, hotel points and award charts to keep track of, not to mention credit card programs that allow you to transfer your rewards to various partners. Earning and using credit card rewards shouldn't be challenging.
The Capital One Venture Rewards is an excellent antidote to the complexity of travel rewards, offering both simple earning and redemption options for beginners and high-value transfer options for the more experienced points and miles collector.
This card has a modest annual fee of $95 (see rates and fees). You will need good to excellent credit for this card, so TPG recommends a credit score of 670 or higher.
Here's everything you need to know about the Capital One Venture Rewards.
Capital One Venture Rewards pros and cons
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Capital One Venture Rewards welcome offer
The Capital One Venture Rewards comes with a solid limited-time sign-up bonus of 75,000 miles after spending $4,000 on the card within the first three months of account opening, plus a $250 Capital One Travel credit upon account opening.
This sign-up bonus isn't the highest we've ever seen from Capital One, but it comes close with the addition of the $250 travel portal credit. It is a solid offer for the relatively low spending requirement.
Based on TPG's July 2024 valuations, Capital One miles are worth 1.85 cents each when transferred to the issuer's loyalty program partners, which include Air Canada Aeroplan and Air France-KLM Flying Blue. In other words, this 75,000-mile bonus plus the travel credit is worth $1,638 when you add the value of the miles together with the $250 travel credit.
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Keep in mind that this $250 travel credit must be used in the first year. Since this card earns 5 bonus miles on hotels and car rentals booked through Capital One Travel, the best way to maximize the travel credit is by using it for hotel stays or car rentals.
Related: Redeeming Capital One miles for maximum value
Capital One Venture Rewards benefits
Capital One Venture Rewards cardholders receive some helpful travel perks, including:
- Up to $100 application fee credit for Global Entry or TSA PreCheck
- Access to hotel bookings with Capital One's Lifestyle Collection
- Travel assistance services
- MasterRental insurance
- No foreign transaction fees (see rates and fees)
These are solid perks for a card with a reasonable annual fee — though if you're looking for enhanced benefits, the Capital One Venture X Rewards Credit Card could better fit your wallet (more on that later).
Earning miles on the Capital One Venture Rewards
Earning miles on the Capital One Venture Rewards card is straightforward, making the card useful to those who don't want to spend a lot of mental energy swapping credit cards in and out for different merchants.
You'll earn 2 miles for every dollar you spend with the card on every transaction. Based on TPG's valuations, you'll essentially be getting 3.7% back on every purchase.
Plus, you'll earn an even higher 5 miles per dollar spent on hotels and car rentals booked through Capital One Travel.
It's easy to zero in on high-powered and popular bonus categories for dining or travel, but you might spend a lot of money outside of defined bonus categories. Adding a Venture Rewards card to your wallet can help you mop up all those extra miles and ensure you aren't leaving anything on the table when paying for non-bonus purchases.
Redeeming miles on the Capital One Venture Rewards
You'll likely get more value out of transferring your Capital One miles than redeeming them outright, but if you prefer a more straightforward approach, there are several options available at a fixed value:
- Book travel: Through Capital One Travel, you can directly book travel using your miles at a rate of 1 cent per mile. This allows you to avoid the complexities of loyalty programs.
- Pay off travel purchases: You can redeem your miles for any recent, travel-related purchase (such as vacation rentals, flights with any airline, hotels, rental cars and cruises).
- Redeem for gift cards: Another option is to exchange your miles for gift cards.
It is important to recognize that these fixed-value redemption options will result in a lower value compared to TPG's July 2024 valuation of 1.85 cents per point.
Related: The easy route: How to redeem Capital One miles at a fixed value
Transferring miles on the Capital One Venture Rewards
Transferring your Capital One Venture miles to airline and hotel partners is often how you'll get the most value from your earnings. Under the right circ*mstances, you can get some phenomenal value from these rewards.
Even programs that fly under the radar can be a great option — as TPG senior editorial director Nick Ewen found.
I was searching for a hotel room in Park City for a ski trip over President's Day Weekend, and prices were really high. But then, I stumbled across a Wyndham Rewards property close to downtown that had the option of booking a two-bedroom suite for just 30,000 points per night. I transferred 90,000 Capital One miles to my Wyndham account to book a three-night stay that would've set me back over $2,100 dollars.
It's worth noting that these redemptions aren't for everyone, so be sure to check out our guide to help you decide whether to transfer Capital One miles. If you're confused about the process, here's a guide on how to do it.
Which cards compete with the Capital One Venture Rewards?
No card perfectly replicates the Capital One Venture Rewards, but there are a few that offer similar benefits:
- If you prefer Chase: Consider the Chase Sapphire Preferred® Card. For a $95 annual fee, you'll enjoy 5 points per dollar on travel booked through Chase Travel℠, 3 points per dollar on dining, select streaming services and online groceries (excluding Target, Walmart and wholesale clubs), 2 points per dollar on all travel not booked through Chase Travel and 1 point per dollar on all other purchases. To learn more, read our full review of the Chase Sapphire Preferred.
- If you want more perks: Look at the premium Capital One Venture X Rewards. You'll get 10 miles per dollar on hotels and car rentals booked via Capital One Travel, 5 miles per dollar on flights booked via Capital One Travel and 2 miles per dollar on everything else, plus $300 back in credits annually for bookings made through Capital One Travel. It does carry a $395 annual fee (see rates and fees), but the perks can easily cover that — and then some. To learn more, read our full review of the Capital One Venture X.
- If you prefer Citi: The Citi Strata Premier℠ Card* (see rates and fees) has the same $95 annual fee, but its earning potential sets it apart. You'll earn 10 points per dollar on hotels, car rentals and attractions booked through CitiTravel.com, 3 points per dollar on air travel, other hotel purchases, restaurants, supermarkets, electric vehicle charging and gas stations and 1 point per dollar on everything else. It's hard to beat those bonus categories. To learn more, read our full review of the Citi Strata Premier.
For additional options, check out our full list of the best travel cards.
*You can earn 75,000 bonus points by applying directly through Citi.com rather than the 70,000 points available through TPG's affiliate link. We are committed to our readers getting the highest bonus available.
Related: Credit card showdown: Capital One Venture vs. Capital One Venture X
Is the Capital One Venture Rewards worth it?
The Capital One Venture Rewards is a great option if you want a card that earns valuable rewards on non-bonus spending and has a reasonable annual fee. However, those looking for premium benefits and bonus rewards in top spending categories must look elsewhere.
Bottom line
The Capital One Venture Rewards packs a lot in for a $95 annual fee (see rates and fees), and it even makes the cut as one of our best travel credit cards. It earns miles at a consistent rate and can facilitate simple, fixed-rate redemptions along with more complicated awards by transferring your miles to hotel and airline partners, making it a valuable card worth a spot in your wallet.
Learn more: Capital One Venture Rewards Credit Card
Related: Why I keep the Capital One Venture Rewards card in my wallet
For Capital One products listed on this page, some of the above benefits are provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply.
Editorial disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.
