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It's rare for a card to deliver impressive introductory APR offers, no foreign transaction fees, and solid travel benefits without charging an annual fee. It's even more rare for that card to earn fully transferrable rewards, yet the Capital One VentureOne Rewards Credit Card does just that.
Let's dive into the perks, benefits, and earning rates of this unique card and see if it 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; 19.24% - 29.24% variable APR after that
- No foreign transaction fees
- $0 annual fee
- 5 Miles per dollar on hotels and rental cars booked through Capital One Travel
- 5 Miles per dollar on purchases through Capital One Entertainment (through 12/31/2025)
- 1.25 Miles per dollar on every purchase, every day.
Page Contents
Capital One VentureOne Pros
- No annual fee
- No foreign transaction fees
- Option to redeem rewards in numerous ways, including transfer partners
- Introductory APR offer
Capital One VentureOne Cons
- Only earns 1.25X on most purchases
- Travel protections aren't as robust as other cards
- No access to Capital One Lounges
Capital One VentureOne Welcome Bonus
The Capital One VentureOne is currently offering new applicants a bonus of 20,000 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. What's more, the spending requirement for this offer is very achievable. Many other travel rewards cards require $3,000–$4,000 of required spending to earn the bonus.
Related: The Top Credit Card Bonuses Available This Month
Capital One VentureOne Benefits
Generally, the benefits of no-annual-fee credit cards are somewhat limited. However, the Capital One VentureOne does offer a handful of solid perks.
Related: Our Favorite Benefits on Credit Cards With No Annual Fee
Introductory APR offer
New cardmembers can get a 0% intro APR on purchases for 15 months and 0% intro APR on balance transfers for 15 months, followed by a Variable APR of 19.24% - 29.24%. Balance transfer fee applies.
This is a great benefit if you have a large purchase coming up and want some flexibility in how quickly you pay it off without having to worry about high interest rates.
Related: The Best Credit Cards With 0% Introductory APR and No Annual Fee
Rental car insurance
Use your card to pay for your rental car and receive coverage for damage due to collision or theft of an eligible vehicle. Be sure to decline the rental company's collision damage waiver to ensure your card's collision coverage is in effect.
Extended warranty
For purchases made with your card, you can extend your warranty protection by one year on a U.S. manufacturer's warranty of three years or less.
No foreign transaction fees
There are no fees when you use your card outside of the U.S., which helps you save money when traveling abroad.
Capital One Café
Receive a 50% discount on purchases made at one of 50+ Capital One Cafés around the U.S.
Dining and entertainment
Cardholders can access Capital One Dining, a website where cardholders can make reservations at certain high-quality restaurants that might otherwise be unavailable. Cardholders can also access Capital One Entertainment, giving them exclusive access to sporting events, concerts, and event tickets.
Capital One VentureOne Earning Rates
The Capital One VentureOne has a simple earning structure, offering 1.25 Miles per dollar on every purchase, every day. 5 Miles per dollar on hotels and rental cars booked through Capital One Travel.
If you book travel through Capital One Travel, you'll receive an elevated earning rate of 5X per $1 spent on hotels and rental cars. On all other purchases, you'll earn 1.25X, which is a simple approach to rewards that doesn't require focusing on specific bonus categories. You know you're always getting a decent return.
Just for comparison's sake, the Capital One Venture Rewards Credit Card earns 2X miles per $1 spent on all purchases. If you spend more than $1,000 per month on your credit card, you're better off holding this card, as the extra miles will offset that card's $95 annual fee.
Redeeming Miles With the Capital One VentureOne
Cardholders have a few different ways to redeem Capital One miles earned through the Capital One VentureOne. Here's an overview.
Transfer miles to Capital One's travel partners
Most no-annual-fee cards do not allow you to transfer rewards to travel partners or are limited to just a few partners.
However, the Capital One VentureOne is one of few cards with no annual fee offering transfers to the full list of 16 airlines and three hotel transfer partners. You don't need to pair the Capital One VentureOne with another card to enable this feature.
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 Capital One miles directly to partners gives the Capital One VentureOne a definite advantage.
Here are the programs to which you can transfer miles:
Related: Credit Cards With No Annual Fee That Earn Transferable Rewards
Redeem miles for a fixed value on travel expenses
Capital One allows you to redeem miles to cover the cost of almost any travel expense charged to the card. These miles are redeemed at a one cent per point value.
You have 90 days after a travel purchase to redeem your miles. You could purchase airfare, train tickets, or hotel nights — potentially before you've completed the minimum spending requirement — and then redeem your miles after the fact to get a statement credit against those purchases!
Other fixed-value redemptions
If travel isn't in the equation right now, you can redeem your Capital One miles for the following items at these redemption rates:
- Gift cards: 0.8–1 cent per mile
- Shop online through Amazon or PayPal: 0.8 cents per mile
- Cash back: 0.5 cents per mile
- Statement credit: 1 cent per mile
Related: How To Use Your Capital One Miles for Maximum Value
Application Restrictions
Capital One can be a bit picky about card approvals. First, you will not be approved for more than one Capital One card within a six-month window.
Additionally, you cannot hold more than two personal Capital One cards at a time, although this rule seems to have exceptions. AwardWallet users have noted that you can have up to five Capital One cards if they're from different card families: two Venture-branded cards (like this one), one Quicksilver card, one Savor-branded card, and one charge card.
Lastly, you'll see this exclusion on the application page for the Capital One VentureOne:
“Existing or previous cardmembers are not eligible for this product if they have received a new cardmember bonus for this product in the past 48 months.”
If you have this card or received a bonus on it within the past four years, you likely aren't eligible to receive the welcome bonus on it right now.
Related: Understanding Rewards Credit Card Application Rules and Restrictions
Cards That Compete With the Capital One VentureOne
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 basic travel benefits. However, it's worth weighing other options before applying — especially if you are already invested in other flexible rewards programs.
- If you want to earn Capital One miles at a higher rate and get more benefits, check out the Capital One Venture Rewards Credit Card. This card has a modest $95 annual fee, earns 2X on all purchases, and includes benefits like a TSA PreCheck or Global Entry credit, lost luggage reimbursement, and more. Check out our full Capital One Venture Card review to learn more.
- If you want to earn flexible points with a different set of transfer partners and elevated earnings on dining, consider the Chase Freedom Unlimited®. It's a no-annual-fee card that earns 1.5% cash back on all eligible purchases, 3% on dining and at drugstores, and 5% on travel purchased through Chase Travel℠. Note that you will need a card with an annual fee to access Chase's transfer partners, but you'll earn at 1.5X with this card, rather than 1.25X with the Capital One VentureOne. Learn more in our Chase Freedom Unlimited review.
- If you want bonus earnings on food and entertainment instead of travel, look at the Capital One Savor Cash Rewards Credit Card. You can earn up to 8% back on entertainment while also earning 3% cash back on dining, grocery stores, and streaming services. There's no annual fee or foreign transaction fees, and Capital One allows you to turn cash back into miles if you have cards earning both types of rewards. Our Capital One Savor Cash review can tell you more.
- 5X miles per dollar on purchases through Capital One Entertainment (through 12/31/2025)
- 5X miles per dollar on hotels, vacation rentals and rental cars booked through Capital One Travel
- 2X miles per dollar on all other purchases
- Earn 5% on purchases through Chase Travel℠
- Earn 3% on dining at restaurants
- Earn 3% on drugstore purchases
- Earn 1.5% on all purchases
- 8% cash back on purchases made via the Capital One Entertainment ticketing platform
- 5% cash back on hotels and rental cars booked through Capital One Travel (terms apply)
- 3% cash back on dining and entertainment
- 3% at grocery stores (excluding superstores like Walmart® and Target®)
- 3% on popular streaming services
- 1% on all other purchases
Related: All of the Cards That Earn Capital One Miles
Final Thoughts
The Capital One VentureOne is a solid choice for people who value simplicity, with no annual fees or foreign transaction fees. Its generous bonus stands out compared to other no-annual-fee cards, making it a great option for travel enthusiasts looking to jumpstart their rewards journey.
While you won't get all the bells and whistles attached to other cards, it's rare to find a card with no annual fee that can access transfer partners without needing another card to make it happen.
- 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; 19.24% - 29.24% variable APR after that
- No foreign transaction fees
- $0 annual fee
- 5 Miles per dollar on hotels and rental cars booked through Capital One Travel
- 5 Miles per dollar on purchases through Capital One Entertainment (through 12/31/2025)
- 1.25 Miles per dollar on every purchase, every day.
For rates and fees of the cards mentioned in this post, please visit the following links: Chase Freedom Unlimited® (Rates & Fees)
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