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Capital One just launched a new no-annual-fee business credit card: the VentureOne Business. Like many of its other small-business cards, it’s rewarding for everyday spending (and earns valuable miles to boot), comes with a big welcome bonus, and has a handful of useful benefits.
Here’s everything you need to know about the VentureOne Business Card — which replaces the Capital One Spark Miles Select for Business — and how to apply.
Earn 50,000 Bonus Miles With the VentureOne Business
Even though the VentureOne Business doesn’t have an annual fee, it still comes with what we’d consider an extremely valuable welcome bonus. New applicants can earn a one-time bonus of 50,000 miles after spending $4,500 on purchases within the first 3 months from account opening.
On average, AwardWallet users redeem Capital One miles for 2.04¢ apiece. That means this bonus is worth approximately $1,020 toward award travel booked through Capital One.
Related: This Month's Top Business Credit Card Offers
Why Get the VentureOne Business
The VentureOne Business also comes with a handful of useful benefits, starting with a simple and fairly rewarding earning structure.
Rewarding earning structure
When you use the VentureOne Business for business purchases, you’ll earn:
- Earn unlimited 5X miles on hotels, vacation rentals and rentals cars booked through Capital One Business Travel.
- Earn unlimited 1.5X miles on every purchase for your business.
Capital One miles can be transferred to 18 airline and four hotel partners, redeemed as a statement credit toward travel purchases at a rate of 1¢ apiece, or used through the Capital One Business Travel portal.
Of these options, we're most partial to transferring them to partners. On average, AwardWallet users have unlocked 2.04¢ per mile on these redemptions.
Related: Complete Guide to Capital One Rewards Miles=
Additional benefits and protections
The VentureOne Business also comes with a handful of additional travel and business benefits and protections:
- Hertz Five Star® Status: Enroll to skip the counter when renting through Hertz and access a wider selection of rental cars.
- Virtual card numbers: Cardholders can request a virtual card number for online purchases. This helps protect your actual card details from potential fraud.
- Free employee cards: Add employee cards at no cost and track employee spending while earning rewards on all purchases.
- Extended warranty protection: Get an extra year added to the original manufacturer’s warranty on eligible purchases, as long as the original warranty is three years or less.
- No foreign transaction fees: This makes the card a solid option for international business travel, since purchases made abroad won’t incur additional fees.
VentureOne Business Application Restrictions
Capital One generally doesn’t approve applicants unless they’re eligible for the bonus. That said, Capital One applies relatively strict approval criteria, including:
- Existing or previous account holders may not be eligible for the welcome bonus
- No set limit on the number of business cards
- One new card approval every six months
- Capital One pulls your credit from all three bureaus
- Recent inquiries are a major factor in approval decisions
It’s also worth noting that Capital One is known to report small-business cards to the same credit bureaus that track your personal credit, which most issuers don’t do. That means these cards can have a larger impact on your personal credit profile.
Related: How to Get a Business Credit Card in 3 Easy Steps
Can Spark Miles Select cardholders earn the VentureOne Business bonus?
The VentureOne Business is a relaunched version of the Capital One Spark Miles Select for Business. However, it’s considered a new product, and existing cardholders won’t be transitioned to it. That means if you currently have the Spark Miles Select, Capital One won’t automatically convert your account to the VentureOne Business.
This also means you may be eligible for the VentureOne Business welcome bonus, provided you meet the eligibility criteria. The application terms don’t specify that you’re ineligible if you currently have or previously had a Spark Miles Select.
VentureOne Business or Capital One Venture Business?
For businesses that don't want to pay an annual fee to earn Capital One miles, the VentureOne Business makes a lot of sense. But if you don't mind paying a modest annual fee of $95, you can unlock even more value with the Capital One Venture Business. This card features a rewarding earning structure, a couple of useful statement credits, and unlimited 2X miles per dollar on every purchase, everywhere, with no limits or category restrictions.
Before you apply for the VentureOne Business, don't forget to compare it against the Venture Business Card.
- Limited-time offer: Earn up to 150,000 bonus miles-75,000 miles once you spend $7,500 in the first 3 months, and an additional 75,000 miles once you spend $30,000 in the first 6 months
- Earn unlimited 2X miles per dollar on every purchase, everywhere, no limits or category restrictions, and miles won't expire for the life of the account
- Receive up to $220 in credits: Receive an annual $50 travel credit for bookings through Capital One Business Travel, up to an annual $50 statement credit for purchases at qualifying advertising or software merchants, plus up to a $120 credit for Global Entry or TSA PreCheck® every four years. Terms and conditions apply
- Unlimited 5X miles on hotels, vacation rentals and rental cars booked through Capital One Business Travel
- Transfer your miles to 15+ travel loyalty programs
- Redeem your miles instantly for any travel-related purchases, from flights and hotels to ride-sharing services
- $95 annual fee
- Free employee cards which also earn unlimited 2X miles from their purchases
- Top rated mobile app
- 5X miles per $1 on hotels, vacation rentals and rental cars booked via Capital One Business Travel
- 2X miles per $1 on other eligible purchases
Our Take on the VentureOne Business
If you're looking for a no-annual-fee credit card with a big and accessible welcome bonus, the VentureOne Business is worth your attention.
What’s more, this new card is also rewarding for the long term, as it valuable rewards on every purchase, making it a no-fuss wallet companion you won’t have to think twice about while running your business. And that’s an appealing trait for a lot of business owners.
