Capital One Venture Rewards Credit Card Review

Capital One Venture Rewards Review

In this article, we will review the Venture Rewards from Capital One, a credit card that rewards frequent travelers with a generous amount of reward miles.

The Venture Rewards credit card from Capital One is an excellent option for people who want to earn reward miles quickly. The card offers 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. You also get 2x miles per dollar spent on all other purchases and 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). However, you will have to pay a $95 annual fee.

Venture Rewards from Capital One: Pros and Cons

Rewards system in a nutshell

When you use Venture Rewards credit card to book hotels and car rentals through Capital One Travel, you will be rewarded with 5x miles for each dollar spent. For all other purchases, you will earn 2x miles per dollar. The simplicity of the rewards system allows frequent travelers to rack up miles quickly.

Furthermore, the miles never expire for the life of the account and there's no limit to how many you can earn.

You can also look forward to the one-time offer for new cardholders, where you get 75,000 bonus miles. To get this reward, you will have to spend $4,000 on purchases within three months of your account opening.

When it comes to redeeming your miles, you will find that the most beneficial redemption options are travel-related. Here is what you can do with them:

• Redeem for travel – You can use the miles to book travel through Capital One Travel. Each point is worth 1 cent. If you would instead get a statement credit for past travel purchases, you can do that too (any purchase made within the last 90 days is eligible).
• Miles transfer program – Transfer your miles to your choice of 15+ travel loyalty programs.
• Online shopping – You can link the Venture Rewards card with your PayPal or Amazon accounts and use your miles during checkout. Just remember that the conversion rate is 0.8 cents per mile.
• Cash back – Cash back is also an option, but the value of the miles is 0.5 cents per mile.

Who can benefit from the Venture Rewards Card from Capital One?

If you are a frequent traveler, you will find that the card has a lot to offer.

You will be able to quickly earn an unlimited number of miles and use them to cover travel-related purchases. Also, you will not have to worry about keeping track of any spending categories. The miles value is highest when they are redeemed for travel, whether booking hotels or transferring them to a partner program, instead of online shopping or cash back.

Are there any other benefits?

The card has several other benefits:

• Auto rental collision damage waiver – Cardholders get car rental insurance covering theft and damage on eligible vehicle rentals.
• Travel insurance for accidents – When you pay for travel with the Venture Rewards card, you’re automatically insured against any covered loss.
• Extended warranty – Capital One will increase the warranty period when you purchase eligible items using the VentureOne Rewards credit card.
• 24-Hour travel assistance services – If you lose your card while traveling, Capital One will replace it and even give you a cash advance. You can contact them at any time to request this service, which makes it handy during an emergency.
• Capital One Lounge discount – Get special entry discounts for access to the exclusive Capital One Lounge, a place where you can relax, dine and enjoy premium amenities away from the crowds. Additionally, you will have two complimentary lounge visits per year.
• Fraud protection – If your card has been stolen or misplaced, you will not be charged for any transactions made while it is not in your possession. You can also lock the card using the Capital One app to get ahead of any fraudulent activities.
• Credit report change notification – With CreditWise, you can stay on top of your credit rating. One helpful feature is the tool’s ability to notify you when your Experian or Transunion credit report changes.
• Eno – Eno is an account assistant that instantly notifies you of unexpected transactions such as double charges and sudden increases on recurring bills.
• Complimentary Hertz Five Star® Status – till December 31, 2024, you will enjoy additional perks when renting from Hertz.

Conclusion

We recommend the Venture Rewards credit card to anyone looking for a simple rewards system, travel-friendly redemption options, and other perks that enhance the travel experience. The combination of the 5x and 2x miles rewards programs accelerates the rate at which cardholders accumulate points. Not to mention the welcome bonus worth $750 (in travel) is substantial, providing further incentive to use the card. Other benefits that make this card a good choice include the TSA PreCheck or Global Entry statement credit, no foreign transaction fee, and Capital One Lounge discount.

The annual fee might seem like a drawback. However, $95 is reasonable, considering premium travel cards have a much higher annual fee. For example, you’re charged $550 yearly when you get the Chase Sapphire Reserve®. The annual fee is further justified with the welcome bonus and TSA PreCheck or Global Entry credit.

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

Upon enrollment, accessible through the Capital One website or mobile app, eligible cardholders will remain at upgraded status level through December 31, 2024. Please note, enrolling through the normal Hertz Gold Plus Rewards enrollment process (e.g. at Hertz.com) will not automatically detect a cardholder as being eligible for the program and cardholders will not be automatically upgraded to the applicable status tier. Additional terms apply