Capital One® VentureOne® Rewards Credit Card Review

If travel is your passion and you have an excellent credit history, the VentureOne® Rewards card from Capital One® is a generous travel rewards card. Purchase notifications, no annual fee, and bonus miles add up to a convenient way to explore the world while saving money. This card will have you earning more miles per dollar on every purchase than most travel rewards cards, and you’ll have access to many other travel benefits as well. The card issuer, Capital One, was established in 1995 and is the fifth-largest U.S. credit card company in terms of outstanding balances and purchase volume.

The essentials of the Capital One® VentureOne® Rewards card

  • APR: 0% intro APR for 12 months on purchases, then 14.49% – 24.49% variable APR after the first year.
  • Annual Fee: $0
  • Primary feature: Earn unlimited 1.25x miles on every purchase, every day.
  • Introductory bonus offer: Earn 20,000 bonus miles once you spend $1,000 on purchases within the first three months from account opening.

What’s Interesting about the Capital One® VentureOne® Rewards Card

When you make a travel purchase with VentureOne, you can redeem your miles as a statement credit toward the cost of the travel purchase. Rewards never expire for the life of the account. You can also redeem your miles for cash, account credit, gift cards and more. Rates for these options may vary. To make this travel rewards card even more appealing for the adventurous, there are no foreign transaction fees. You won’t pay any extra when making purchases outside of the United States. You can use the VentureOne® miles on flights, hotels and more; you can even transfer miles to any of their 15+ travel partners. 24-hour travel assistance services are available too. If you’ve lost your card or had it stolen, you can get an emergency replacement card along with a cash advance.Other perks include:

  • Free extended warranty protection on eligible items purchased with your VentureOne® Rewards card.
  • Auto rental collision damage waiver: If you rent an eligible vehicle with this card, you can be covered for damages due to collision or theft.

Things to Consider

Cash advances, balance transfers, and checks used to access your account are not considered purchases and will not earn rewards. You’ll earn 1.25 miles per dollar on net purchases only (that means purchases minus any credits or returns).

Make sure you’re in a position to spend $1,000 on purchases within the first three months of opening this card account. Otherwise, you’ll have to forfeit the 20,000-mile bonus, which is a significant reason to get the card.

Miles don’t expire, but if your account is closed for any reason, you’ll lose any rewards you have not redeemed.

How to Get the Most from your VentureOne® Card

To truly benefit, book all your travel arrangements – not just flights, but accommodations as well – using this card.
Keep track to make sure that you reach the goal of $1,000 in purchases within the first three months to claim your 20,000 bonus miles. Check out the list of their travel partners too, since you can transfer your miles to them.

Since the APR you are approved for on this card varies based on your creditworthiness, from 14.49% – 24.49%, be aware of your purchases and pay off your balances regularly in order to avoid high interest payments.

If you’re traveling outside of the U.S., remember to use this card for purchases since no foreign transaction fees will be incurred. That can be much more convenient/economical than having to go through any type of currency exchange.

Other Card Options that Might Interest You

Capital One has another similar travel card called Capital One® Venture® Rewards Credit Card. With this card, you earn unlimited 2 miles per dollar on every purchase, every day. You’ll earn 50,000 bonus miles if you spend $3,000 on purchases within the first 3 months from the time you open the account. There’s no annual fee the first year, but it’s $95 per year after the first year. An additional nice perk is that you’ll receive up to $100 credit for either the Global Entry or the TSA Pre✓® fee. These both provide expedited security screening benefits for flights that depart from U.S. airports. The APR range for the Venture® Rewards card is similar, with a 17.24% – 24.49% variable APR.

Would you rather get matching miles for every mile you earn instead? In other words, do you want the opportunity to double your miles with no purchase minimums? A card you’ll want to take a look at is the Discover it® Miles card, which has no annual fee.

At the end of your first year, Discover will match all the miles you’ve earned. For example, 25,000 miles turns into 50,000 miles. If you prefer, you can redeem miles for cash as an electronic deposit to your bank account or a credit for travel purchases on your statement.

The Final Word

For anyone with excellent credit who loves to travel and earn miles to use for future trips, the Capital One® VentureOne® Rewards stands out as a great option. That generous bonus of 20,000 extra miles is hard to beat since you only have to spend a total of $1,000 on purchases within the first 3 months. And the additional travel perks of no foreign transaction fees and 24 hour-a-day travel assistance will provide peace of mind and convenience throughout your journeys.

Stephen Altrogge

Personal Finance Contributor

Stephen Altrogge is a business and marketing writer from Ashland, Ohio. His writing has been published in Fast Company, Zapier, Entrepreneur, Forbes, and a host of other publications. He has a degree in Management Information Systems from Indiana University of Pennsylvania. Before launching his own business, he worked as an auditor at a bank.