AwardWallet receives compensation from advertising partners for links on the blog. Terms Apply to the offers listed on this page. The opinions expressed here are our own and have not been reviewed, provided, or approved by any bank advertiser. Here's our complete list of Advertisers.
The Capital One Venture Rewards Credit Card has a solid welcome offer and some great perks. This card is a perfect fit for anyone who likes having a super-easy option to redeem rewards at a fair value.
- Earn 75,000 Miles once you spend $4,000 on purchases within 3 months from account opening; worth $750 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
- 5X miles per dollar on hotels and rental cars booked through Capital One Travel
- 2X miles per dollar on all other purchases
With most rewards, the easier it is to redeem, the less money you save. But Capital One offers the best of both worlds: use miles to pay yourself back for any travel purchase or transfer your 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 you should apply.
Capital One Venture Pros
- Simple rewards-earning structure.
- Flexible options for rewards redemption: Offset travel purchases or transfer to airline and hotel programs.
- TSA PreCheck or Global Entry statement credit.
Capital One Venture Cons
- Charges a $95 annual fee.
- Miles are only worth 1 cent apiece when redeemed to offset travel purchases.
- Airlines on the transfer partner list are limited to non-U.S. programs, which can be more daunting for a beginner to understand and use.
Capital One Venture Welcome Bonus
The welcome offer of 75,000 miles once you spend $4,000 on purchases within 3 months from account opening is a top-tier bonus with a manageable spending requirement, putting this card easily within reach for many.
In recent AwardWallet user redemptions, the average value of a Capital One mile is 2.66¢. At that rate, this welcome offer is worth almost $2,000 — that is, if you transfer them to airlines and redeem for high-value flights.
Related: How To Maximize 75K Capital One Venture Miles for Flights Within North America
Capital One Venture Benefits
Considering that the Capital One Venture is a mid-tier card with a $95 annual fee, it provides a surprising number of useful benefits for travelers.
Two complimentary lounge visits per year
Capital One Venture cardholders receive two complimentary visits per year to Capital One Lounges or Plaza Premium lounges. You also can use one of your two complimentary visits for a guest. There's no need to enroll. You'll simply present your Capital One Venture card, same-day boarding pass, and a government-issued ID at reception for entry.
Related: Capital One Lounge Washington Dulles Airport Review
Complimentary Hertz Five-Star status
Thanks to a partnership with Hertz , Capital One Venture cardholders can enroll to receive complimentary Five Star status with the rental car loyalty program. As the second-highest membership tier, this status level allows for a wider selection of rental vehicles, upgrades to the next car class (if available), and a dedicated customer service texting line.
Plus, as a member of Hertz Gold Plus Rewards, you can skip the rental counter at pickup and drop-off at select locations, you'll earn Hertz points redeemable for free rental days and car-class upgrades, and you can add your spouse or domestic partner as a driver at no extra cost. The partnership page explains how to claim your status.
TSA PreCheck or Global Entry credit
The Capital One Venture is also one of the many cards that features a statement credit for the TSA PreCheck or Global Entry application fee. The value of the credit depends on which program you choose:
- $100 on Global Entry enrollment fee.
- $78 on TSA PreCheck enrollment fee.
Since Global Entry includes TSA PreCheck, 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 PreCheck and Global Entry Credits
Travel and shopping protections
- Travel accident insurance: Receive up to $250,000 in coverage for common carrier accidental death or dismemberment, at no extra cost, when you charge your entire travel fare to your Capital One Venture card.
- Auto rental collision damage waiver: Use your card to pay for your rental and decline the insurance at the counter to receive reimbursement for damages caused by theft or collision — up to the actual cash value of most rental cars. Note that this coverage isn't applicable in Israel, Jamaica, Ireland, or Northern Ireland, and certain types of vehicles aren't covered.
- Lost luggage reimbursement: Receive up to $3,000 reimbursement for your lost or stolen checked luggage or carry-on baggage, including the contents. You must pay either a portion or the entire cost of the trip with your Capital One Venture card to be eligible for coverage.
- Extended warranty: Extends your manufacturer's warranty up to one additional year on eligible warranties of three years or less, up to a maximum of $10,000 per claim, and $50,000 per cardholder.
No foreign transaction fees
The Capital One Venture doesn't charge any foreign transaction fees.
Capital One Venture Earning Rates
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 as long as your account is open. For every $1,000 you spend on the card, you'll earn 2,000 Capital One miles.
Hotels and rental cars booked through the Capital One Travel portal earn 5 miles per $1 spent.
Earning 2 miles per $1 spent on purchases that don't fall into any bonus categories makes this one of the best credit cards for everyday spending.
If you truly want to maximize your earnings, there are other cards that earn more than 2x 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.
Redeeming Miles With the Capital One Venture
Capital One miles are perhaps the most flexible rewards out there. There are four different ways to redeem the miles that you earn with the Capital One Venture, though some of them bring a lot more value than others.
Gift cards
Capital One allows you to redeem miles for gift cards, though the value for this tends to be lower than other options.
Statement credit
It's also possible to redeem your miles for statement credits against recent travel purchases. You'll get a value of 1 cent per mile when doing so, but this can be helpful if you have fixed travel requirements and can't find other reward redemptions. It's also a great option for booking travel to a hotel that's not part of a rewards program or a vacation home rental.
It's also possible to redeem miles for cash (not related to recent travel purchases). These redemptions are worth half a cent per mile — poor value compared to your other options.
Capital One Travel portal
The Capital One Travel portal allows you to redeem your miles at a rate of 1 cent each, which is less than half of the average value users get when transferring miles (which we'll discuss next). Miles can be used for anything you book, including rental cars, hotels, and flights.
However, we don't recommend doing this, especially for hotels or rental cars. You're much better off paying for those bookings with your card to earn 5x, and then redeeming miles as a statement credit. You'll come out with more miles through this approach.
Related: Why You Should Never Redeem Capital One Miles Through Capital One Travel
Transfer miles
The last — and best — way to redeem your miles is by taking advantage of Capital One's transfer partners. To date, Capital One has 18 different travel partners. There are 15 airline partners, including British Airways Executive Club, Air France–KLM Flying Blue, and Air Canada Aeroplan.
The three hotel partners are Accor Live Limitless, Choice Privileges, and Wyndham Rewards.
Redeeming your miles in this way can take more work and knowledge, but it also provides the key to unlocking the most value. Here are all of Capital One's transfer partners and data points on average transfer times:
Application Restrictions
You can hold a maximum of two personal Capital One branded cards at any one time.
The Capital One Venture application states that you won't be eligible for this offer if you have received a new cardmember bonus for this product in the past 48 months. Moreover, you won't be approved for more than one Capital One card within six months. The terms also state that you're ineligible for the welcome bonus if you've applied for 2 or more Capital One credit cards in the past 30 days.
Keep in mind that the issuer pulls from all three credit bureaus. Additionally, Capital One cards do count toward your Chase 5/24 status.
Capital One is also known to be one of the most stringent banks when it comes to new card approvals. Recent inquiries on your credit report are a major factor. Even people with otherwise stellar credit have been denied for a Capital One card because of the number of new accounts. We recommend holding off on applying for other cards for a few months before applying for a Capital One card.
Related: Understanding Rewards Credit Card Application Rules and Restrictions
Cards That Compete With the Capital One Venture
- If you want to earn Capital One miles plus receive more premium travel perks, take a look at the Capital One Venture X Rewards Credit Card. It earns the same transferable miles as the Capital One Venture, but also has numerous perks, including a $300 annual credit for bookings on Capital One Travel, 10,000 bonus miles each anniversary year, Hertz President's Circle elite status, and complimentary access to Capital One, Priority Pass, and Plaza Premium lounges. These perks do come at a higher cost: the Capital One Venture X‘s annual fee is $395. However, the annual travel credit and the anniversary bonus miles help to offset that cost. Learn more our full review of the Capital One Venture X.
- If you're under 5/24, the Chase Sapphire Preferred® Card is an excellent travel card that charges a $95 annual fee. Cardholders earn up to 5x Ultimate Rewards on travel purchases, as well as 3x points on dining, select streaming services, and online groceries (excluding wholesale clubs, Target, and Walmart). It also has an annual $50 statement credit for hotel bookings through the Ultimate Rewards portal. Our Sapphire Preferred review has more details.
- If you're over 5/24, then consider the Citi Premier® Card, which charges a $95 annual fee. It earns 10x ThankYou Points on hotel and car rental bookings made through the Citi travel portal (through June 30, 2024) and 3x on air travel, hotels, restaurants, gas, and supermarkets. It also gives you $100 off a $500 hotel stay each year when booking in Citi's travel portal. You can learn more in our Citi Premier review.
Related: Best Rewards Cards for Travel Purchases
- 2 miles per dollar on all eligible purchases
- 5 miles per dollar on flights when booking via Capital One Travel
- 10 miles per dollar on hotels and rental cars when booking via Capital One Travel
- 5X points on Lyft rides through March 2025
- 5X points on travel purchased through Chase
- 3X points on dining at restaurants worldwide
- 3X points on eligible streaming services
- 3X points on online grocery purchases (excluding Target, Walmart, and wholesale clubs)
- 2X points on all other travel
- 1X point per dollar spent on all other purchases
- 3X points per $1 spent on airfare, hotels, and at gas stations
- 3X points per $1 spent on dining at restaurants, including cafes, bars and lounges
- 3X points per $1 spent at supermarkets
- 1X points per $1 spent on all other purchases
Bottom Line
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 and miles 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.
- Earn 75,000 Miles once you spend $4,000 on purchases within 3 months from account opening; worth $750 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
- 5X miles per dollar on hotels and rental cars booked through Capital One Travel
- 2X miles per dollar on all other purchases
The comments on this page are not provided, reviewed, or otherwise approved by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.
DARN! It happened again. I just applied a few weeks ago for a pretty good offer on this card $4000 to earn 70000 points.
I called today just to see if they might possible grant me the larger bonus and of course not. Just a data point for you