Card Review: Capital One® Venture® Rewards Credit Card
Premium Rewards With No Hassles
The Capital One® Venture® Rewards Credit Card provides greater travel rewards while maintaining the flexibility of its sister card, the Capital One® VentureOne® Rewards card. The trade-off for increased rewards is an annual fee and no introductory APR offers, but at intermediate spending levels, the Venture® card starts to pay off.
With the Venture® Rewards Card, there are no blackout dates or restrictions on airlines or hotels. You may book your travel any way you wish.
All purchases earn unlimited 2 points per dollar spent. Points may be redeemed as statement credits for past expenses or used to book flights, hotel stays, and other future travel expenses. For travel-related purchases, the redemption rate is 100 points per dollar.
Also, for a limited time, Venture® offers an incredible 10X miles on purchases with their hotel partner Hotels.com by visiting hotels.com/venture and using your Venture® card for the purchase.
The Venture® Rewards Card features a variable interest rate from 14.74% to 24.74% APR based on creditworthiness. The annual fee of $95 is waived for the first year. There is no foreign transaction fee or balance transfer fee.
Sign-up Bonus and Introductory Features
The Venture® Rewards Card offers a generous bonus of 50,000 points if you make at least $3,000 in purchases on your card within 3 months of approval. For new cardholders, you can receive a metal Venture® card. It gives the card a premium look typical of cards with much higher limits (and corresponding annual fees).
Simple to Use – There are no limitations on booking and no categories to keep track of to maximize bonus points. The Venture® points program keeps things simple and easy to manage – perfect for those who are too busy to manage their rewards constantly (not to mention new consumers who may be confused by, or uninterested in, competing rewards programs).
Flexibility – Redeem your points through the Capital One® Rewards center or make your own travel arrangements – it’s your choice. There are no blackout dates to limit your plans. Points can be applied to almost any travel-related expense. Rewards do not expire as long as your card account is active. There is no maximum number of rewards points you can accumulate, or minimum number of points required for redemption.
Fee Credit for Global Entry / TSA Pre-Check – Venture® is now offering up to a $100 application fee credit for Global Entry or TSA Pre-Check. This was the missing perk that other premium travel cards included that Venture® now offers.
No Foreign Transaction Fees – Rewards cards typically charge foreign transaction fees – 3% is not an uncommon rate. With no foreign transaction fees at all, the Venture® Rewards Card is a great card for frequent international travelers.
Sign-up Bonus and Perks – The 50,000-point sign-up bonus is one of the best offers available among cards with no or low annual fees, while the included VISA Signature® Benefits Package adds useful perks such as complimentary travel upgrades and extended warranty protection.
No Penalty APR – Late payments will incur a $35 fee, but the Venture® Rewards Card does not apply any penalty APR. Many competing cards charge penalty rates that are considerably higher than the standard APR.
Annual Fee – While $95 is not a huge annual fee, and the fee is waived for the first year, there are competing cards with no annual fee and similar rewards. If your spending is limited, the VentureOne® card may be a better choice for travel rewards.
Bonus Threshold – By the same logic as above, light spenders may not be able to reach the $3,000 spending threshold necessary to receive the 50,000-point sign-up bonus.
No Introductory Periods – The Venture® Rewards Card does not offer an introductory 0% APR period on either purchases or balance transfers. If you are likely to carry a significant balance or have collective debt that you want to consolidate on one card, there are better choices available.
Not the Best for Non-Travel Rewards – You can redeem points for merchandise and other non-travel rewards, but the redemption rate is low – as low as 200 points per dollar in some cases.
The Bottom Line
With its combination of great travel rewards and flexibility in redeeming them, the Capital One® Venture® Rewards Card is well-suited for frequent travelers who spend at intermediate levels (approximately $650 to $2,500 annually) and enjoy the ease of a predictable and easy-to-use rewards system. That’s especially true for international travelers thanks to the lack of foreign transaction fees and blackout dates.
The Venture® card may still be the best choice at higher spending levels if you do not frequent a particular airline or hotel chain, where you may find targeted cards with greater rewards. At lower spending levels, you can find similar rewards with no-annual-fee cards. At very high spending levels, you can afford to look at higher annual fee cards with greater rewards programs that will make up the difference. Otherwise, the Venture® card is difficult to beat in the category of rewards cards.