Capital One Venture Rewards Credit Card Review

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The Capital One Venture Rewards Credit Card has a solid new-cardmember offer and some great perks. This card is a great fit for anyone who likes having a super-easy option to redeem rewards at a fair value.

With most rewards, the easier it is to redeem, the less money you save. But Capital One offers the best of both worlds: use points to pay yourself back for any travel purchase or transfer Capital One rewards to airline and hotel partners for even more value.

In this post, we'll review the Capital One Venture‘s key benefits to help you decide whether or not it deserves a place in your wallet.

Capital One Venture Rewards Credit Card
Capital One Venture Rewards Credit Card
Annual Fee$95
Welcome Offer Earn 100,000 Miles when you spend $20,000 on purchases in the first 12 months from account opening, or still earn 50,000 miles if you spend $3000 on purchases in the first 3 months.
Following the revamp of Capital One's rewards program and the addition of airline transfer partners, the Capital One Venture has catapulted into our list of top travel rewards cards. The ability to earn 2X miles on every purchase provides a decent return on spending. Plus the card offers some great perks.
  • Earn 100,000 Miles when you spend $20,000 on purchases in the first 12 months from account opening, or still earn 50,000 miles if you spend $3000 on purchases in the first 3 months; worth $600 in travel if redeemed for a fixed-value, or potentially much more when transferred to airline partners
  • 2 Miles on every purchase
  • Fee credit for Global Entry or TSA Pre✔® (up to $100)
  • No foreign transaction fees
  • $95 annual fee
  • 2 Miles per dollar on every purchase, every day.

Capital One Venture Welcome Offer

The current offer from Capital One matches the all-time high for this card: Earn 100,000 miles when you spend $20,000 on purchases in the first 12 months from account opening, or still earn 50,000 miles if you spend $3000 on purchases in the first 3 months.

$20,000 in total spending to earn the full bonus is a higher target than you'll see with many competitors. But if you spread that evenly over 12 months, the requirement is only $1,667 per month—which should be achievable for many.

The key difference with this offer is that you need to commit to making the Capital One Venture your primary card for a longer period of time. Fortunately, this card is an ideal choice for folks that like to keep their earning strategy simple.

Earning Potential and Bonus Spending Categories

The Capital One Venture card offers 2x miles for every dollar spent, on all purchases, in all categories. There is no limit to the miles you can earn, and they never expire. For every $1,000 you spend on the card, you'll earn 2,000 Venture Miles.

If you truly want to maximize the points you earn, there are other cards that earn more than 2X points on select categories. But it can take some organization to come out ahead with a portfolio of cards. If you like the simplicity of earning 2X miles on everything—without having to think about which card to use—the Capital One Venture is a perfect choice.

Ultimate Flexibility Redeeming Capital One Venture Miles

Capital One miles are perhaps the most flexible rewards out there. You get to choose between exchanging miles for a fixed cash value or transferring them to partners where the potential savings is even greater.

Redeem Miles for Any Travel Purchase

Capital One's “Purchase Eraser” feature is a simple way to use rewards for any travel purchase. Just pay with your Capital One Venture card (the same way you would make any other purchase) and redeem your rewards up to 90 days afterward to “erase” the charge from your monthly bill.

The Purchase Eraser works for flights, hotels, car rentals, and more. You can redeem as many miles as you want, from $1 all the way up to the full amount of miles you have in your account.

In addition to being easy, the purchase eraser feature gives you maximum flexibility. Most fixed-value points must be redeemed through a particular website or travel portal. Capital One lets you buy travel from whichever website or vendor you like. That means you can take advantage of flash-sales, error fares, and discounts that aren't available in other places. It also means you can book directly with a hotel so you can earn and enjoy elite benefits.

Transfer Miles to Airlines and Hotels

While it's great to have an easy option, sometimes, you can save far more with each mile redeemed by transferring points to a hotel or airline loyalty program. Capital One gives you the best of both worlds with 13 airline and 2 hotel transfer partners.

For more tips on making the most of your Capital One miles, check out the post below.

Related: Redeem for Maximum Value with the Capital One Venture Card

More Travel Perks

In addition to great rewards, the Capital One Venture card offers solid travel perks including no foreign transaction fees, travel insurance, roadside assistance, reimbursement for lost luggage, and a 24/7 concierge service that provides you with great support.

The Capital One Venture is also one of the many cards that features a statement credit towards the TSA Pre✓ or Global Entry application fee. The value of the credit depends on which program you choose:

  • $100 rebate on Global Entry enrollment fee
  • $85 rebate on TSA Pre✓ enrollment fee

Since Global Entry includes TSA Pre✓, you're better off applying for Global Entry if you might take an international trip in the next few years. In either case, the Capital One Venture credit will cover the full value of the application fee once every four years if you pay with your card.

Related: Cards that Offer a Credit for TSA Pre✓ and Global Entry

Final Thoughts

The Capital One Venture has been on our list of favorite cards for a long time. If you like simple, this card gets top marks for easy redemptions and its straightforward 2X earning structure.

If you're willing to put in the effort to keep track of which card to use for each type of purchase, you can earn more points with a combo of cards that might earn 3X or even 5X in the right category. But for an easy path to solid rewards, it's hard to beat the Capital One Venture.

Capital One Venture Rewards Credit Card
Capital One Venture Rewards Credit Card
Annual Fee$95
Welcome Offer Earn 100,000 Miles when you spend $20,000 on purchases in the first 12 months from account opening, or still earn 50,000 miles if you spend $3000 on purchases in the first 3 months.
Following the revamp of Capital One's rewards program and the addition of airline transfer partners, the Capital One Venture has catapulted into our list of top travel rewards cards. The ability to earn 2X miles on every purchase provides a decent return on spending. Plus the card offers some great perks.
  • Earn 100,000 Miles when you spend $20,000 on purchases in the first 12 months from account opening, or still earn 50,000 miles if you spend $3000 on purchases in the first 3 months; worth $600 in travel if redeemed for a fixed-value, or potentially much more when transferred to airline partners
  • 2 Miles on every purchase
  • Fee credit for Global Entry or TSA Pre✔® (up to $100)
  • No foreign transaction fees
  • $95 annual fee
  • 2 Miles per dollar on every purchase, every day.

AwardWallet Tip of The Day
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