Review of the Capital One Venture Rewards Card

We’ve recently taken a look at the Capital One VentureOne rewards card, but when we did that, we also mentioned that there was also a Capital One Venture Rewards card which is in the same vein as the VentureOne card with some additional perks and an annual fee.

If the VentureOne card didn’t suit you, how will the Capital One Venture Rewards credit card treat you better?

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Better Benefits…

Like the VentureOne, the Venture is primarily a travel rewards credit card which gives you the ability to save money on things like airfare and hotel stays by using Miles in lieu of cash. You gather up these Miles by spending regularly on your credit card-pretty simple. This card doesn’t have any tiers for how many Miles you can earn where., but the big difference is that the Venture version lets you earn 2 miles/$1.00 spent instead of the 1.25 Miles that the One features. This means that you can nearly double your miles for purchases and it even puts Venture above many other reward style credit cards. You also get 10,000 bonus miles if you spend at least $1000 in the first three months of owning your card. This makes it a little easier to store up miles for what you really want. It’s very easy to figure out how much your miles are worth too; like the One, all you have to do is ‘cut off’ the last two zeros in your balance. For example, if you’ve stored up 30,000 points, you have a $300 credit which can be used for flights, car rentals or hotel stays in that amount. Pretty simple, though it does mean that it takes a lot of miles to get anywhere. You can also redeem these miles for cash, gift cards and merchandise, just like the One.

Other nice perks which both the Venture and Venture One share include things like VISA signature perks like advance ticket sales, travel accident insurance, lost luggage reimbursement (if you pay the full cost of travel), travel related benefits like room upgrades, concierge services, and extended warranties. These are simply some nice extras that can make things like travelling more safely far easier.

Where the Venture differs is mainly in how easy it is to earn miles. As we mentioned before, you earn 2 miles/$1.00 spent on anything you would choose to use your card upon. Keep in mind that the miles don’t expire and there is no blackout date on airlines so you have plenty of flexibility.

There’s a Cost of Ownership

The other place where this card differs is in its fees. The APR is slightly higher on average, but there is no transfer fee. And there is no annual fee for one year, but after that, it goes to $59.00/year, meaning that if you want to make a profit from your card, you have to spend in excess of about $3,000 per year to cover the fee and stay in the black. There is also no foreign transaction fee which is nice for globetrotters. All of this means that you really do want to be a regular spender on your credit card and have an excellent credit history showing that you can stay on top of it.

This credit card is best used by people who use credit regularly and who are able to swallow the annual fee. It’s a great way to quickly earn Miles so you can get more free stuff, but it only works if you use it steadily. Still, with a list of automatic perks just for being part of the program and a nice sign-up bonus, this is a nice card for people who want to earn their rewards just a little bit faster. If this sounds good to you, you can apply for the Capital One Venture credit card using our secure CardMatch tool and enjoy the rewards!

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