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Featuring a new cardmember bonus of 20,000 Capital One miles and top-tier perks for a no-annual-fee travel rewards card, the Capital One VentureOne Rewards Credit Card is an ideal choice for travelers who want to earn transferrable rewards without paying an annual fee.
It's rare for a card to deliver solid travel benefits like travel insurance, rental car insurance, impressive intro APR offers on both purchases and balance transfers, and no foreign transaction fees, while also being one of only a handful of cards to earn fully transferrable rewards without charging an annual fee.
Let's dive into the perks, benefits, and earning rates of the Capital One VentureOne and see if this card deserves a spot in your wallet.
- Earn 20,000 Miles once you spend $500 on purchases within 3 months from account opening; worth $200 in travel if redeemed for a fixed-value, or potentially much more when transferred to airline partners
- 1.25 Miles on every purchase
- 0% intro APR on purchases for 15 months; 19.99% - 29.99% variable APR after that
- No foreign transaction fees
- $0 annual fee
- 1.25 Miles per dollar on every purchase, every day and 5 Miles per dollar on hotels and rental cars booked through Capital One Travel.
Capital One VentureOne 20K Welcome Offer
The Capital One VentureOne Rewards Credit Card is currently offering a new cardmember bonus of 20,000 bonus miles once you spend $500 on purchases within 3 months from account opening. This is a great offer for a card that doesn't charge an annual fee.
Even better, you don't need to hold another card to transfer these points to travel partners. The combination of earning transferrable points and no annual fee set the Capital One VentureOne apart from most cards that earn flexible rewards points. Through airline transfer partners, you could potentially extract much more than the $200 face value of this offer.
What's more, the spending requirement on this offer is very achievable. Many travel rewards cards require $3,000-$5,000 minimum spending requirements. But with the Capital One VentureOne, you can earn the entire bonus by spending less than $40 per week on your card over the 90-day minimum spending period.
Consider that you will also earn miles on the initial spending amount. When you meet the spending requirements, you'll have at least 20,625 Capital One miles.
Based on more than 8,000 redemptions by AwardWallet members using Capital One miles, users have achieved an average of 2.66¢ of value for every mile transferred to Capital One travel partners. That means this sign-up bonus could help land you more than $450 of value. That's sensational value for a no-annual-fee travel credit card.
Capital One VentureOne 0% Intro APR Offer
Another big draw of the Capital One VentureOne is the excellent intro APR offer on purchases and balance transfers. New cardmembers can get 0% intro APR on purchases for 15 months and 0% intro APR on balance transfers for 15 months, followed by a variable rate of 19.99% - 29.99%.
This is a great benefit to use if you have a large purchase coming up and want repayment flexibility without having to pay high-interest rates. Additionally, if you have revolving credit card debt elsewhere, moving the balance over to the Capital One VentureOne can help you save on interest charges.
Capital One VentureOne Earning Rates
This card has a simple earning structure, with each eligible purchase earning 1.25 miles per $1 spent. Additionally, you can earn 5 miles per $1 spent on hotels and rental cars made through Capital One Travel.
For reference, the Capital One Venture Rewards Credit Card earns 2 miles per $1 spent on all purchases. If you spend more than $1K per month on your credit card, you'll likely be better off holding one of Capital One's premium travel cards. The increased earnings will more than offset the annual fee.
Is The Capital One VentureOne The Best Card For Me?
The Capital One VentureOne is a solid option if you're looking for a simple travel credit card that will deliver transferrable rewards and some core travel benefits. However, it's worth weighing up other options before pulling the trigger on this card, particularly if you are already invested in other flexible rewards programs.
- Chase Freedom Unlimited®: 1.5% cash back on all eligible purchases, 3% on dining and at drugstores, and 5% on travel purchased through Chase, all issued as Ultimate Rewards. If you have a card like the Chase Sapphire Preferred® Card, you can transfer these points to partners. However, it has foreign transaction fees and can't transfer to partners without a premium card.
- Citi® Double Cash Card: 2% cash back on all eligible purchases. However, the card has limited transfer partners compared to the Capital One VentureOne Rewards Credit Card without holding a premium card like the Citi Premier® Card.
Capital One VentureOne Cardholder Benefits
No-annual-fee credit cards can be somewhat limited in their benefits. However, the Capital One VentureOne Rewards Credit Card does offer a handful of travel benefits for cardholders.
- Rental car insurance
- Extended warranty
- Travel accident insurance
Redeeming Capital One Miles
Most no-annual fee cards don't have the option to transfer to travel partners — or are only limited to a few transfer partners. However, the Capital One VentureOne Rewards Credit Card is one of the few cards that allow cardholders to transfer points to travel partners without needing to hold another card that charges an annual fee.
This is a huge plus when compared with other cards in the same category. It may not have the same earning rates as its other no-annual-fee competitors, but the ability to transfer points directly to partners gives the Capital One VentureOne Rewards Credit Card a big advantage.
Transfer Miles To Capital One Transfer Partners
Capital One has 18 Capital One transfer partners: 15 airlines and three hotels.
|Loyalty Program||Transfer Ratio||Miles/Points per 1,000 Capital One Miles Transferred|
|Aeromexico (Club Premier)||1:1||1,000|
|Air Canada (Aeroplan)||1:1||1,000|
|Air France-KLM (Flying Blue)||1:1||1,000|
|British Airways (Executive Club)||1:1||1,000|
|Cathay Pacific (Asia Miles)||1:1||1,000|
|Etihad (Etihad Guest)||1:1||1,000|
|EVA Air (Infinity MileageLands)||2:1.5||750|
|Finnair (Finnair Plus)||1:1||1,000|
|Qantas (Frequent Flyer)||1:1||1,000|
|TAP Portugal (Miles & Go)||1:1||1,000|
|Turkish Airlines (Miles & Smiles)||1:1||1,000|
|Virgin Red (includes Virgin Atlantic Flying Club)||1:1||1,000|
|Accor (Accor Live Limitless)||2:1||500|
|Choice Hotels (Choice Privileges)||1:1||1,000|
|Wyndham (Wyndham Rewards)||1:1||1,000|
Redeem Miles For a Fixed-Value for Almost Any Travel Expense
Capital One allows you to redeem miles earned on this card for 1¢ per point towards almost any travel expense charged to the card after you have made the purchase.
You have 90 days to redeem your points against the expense from the time you make the purchase. So, you could potentially purchase your travel before you've completed the minimum spending requirement. Then, you may still be able to redeem your Capital One miles against the expense later once your miles post to your account!
Other Fixed-Value Redemptions
If travel isn't in the equation right now, you can redeem your Capital One miles for the following items:
- Gift cards: 0.8-1 cent per point
- Shop online through Amazon or PayPal: 0.8 cents per point
- Cash back: 0.5 cents per point
- Statement credit: 1 cent per point
Lastly, it's important to remember that redeeming your Capital One miles towards hotel nights is one of the only ways you can get elite night credit and benefits when redeeming points or miles for a fixed value. You won't receive elite benefits, for example, when redeeming through the Chase Travel Portal. If you're trying to achieve status with your preferred hotel brand, Capital One can help you get there.
Capital One application rules are relatively straightforward. You cannot have more than two active Capital One cards at one time, so be sure to pick which card you apply for carefully. Additionally, you will only be accepted for one new card application every six months.
The Capital One VentureOne Rewards Credit Card is a great choice for simplicity and avoiding foreign transaction fees or an annual fee. The card currently offers a great bonus and should be on the radar of any travel fan looking for an entry-level rewards card to kick off their portfolio.
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