Your Guide To Capital One Rewards
Written by
Jami Farkas
Edited by
Lindsey Kloosterman
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You probably have a rewards card in your wallet, but is it the right one for your spending and your financial needs? Do you wish your card had better rewards for travel, or a stronger cash-back option?
Capital One’s portfolio of credit cards might offer just the card you need.
Read: 3 Ways To Recession-Proof Your Retirement
The financial giant has a variety of credit cards available under its Capital One Rewards umbrella. They range from cards with no annual fees and cash back to cards with a hefty annual fee but significant travel rewards. Plus, you don’t need a perfect credit square to qualify some Capital One Rewards cards.
If you’re shopping for a card that will help you to maximize your rewards, Capital One is worth a look.
Capital One Rewards Overview
Capital One’s rewards cards primarily fall into two categories: cash back and travel. In all, Capital One has 32 credit card products, many with cash back or travel rewards, and some are reserved for those with excellent credit. A lesser credit profile, however, does not disqualify you from qualifying for a Capital One Rewards card.
Some of the most popular Capital One cards offered sound alike by name, but they have different rewards, fees and interest rates. For personal cards, they are the Capital One Venture X Rewards Credit Card, the Capital One Venture Rewards Credit Card and the Capital One VentureOne Rewards Credit Card, as well as the Quicksilver Rewards card.
These listed cards are consumer cards. Capital One also offers rewards cards for businesses.
How Are Capital One Rewards Earned?
Capital One issues its rewards in “miles” for its travel cards. Depending on the card you have, you will earn miles with every purchase at the rate of at least 1.25 miles per dollar spent. With some cards, your account will be credited with bonus miles once you meet a certain spending threshold, and you also earn additional miles if you book travel through Capital One Travel.
With the Quicksilver Rewards card, you’ll get unlimited 1.5% cash back on every purchase, every day. Capital One also has specialty credit cards for targeted spending that can earn rewards. If you have a Savor Rewards card, for example, you’ll earn 4% cash back on dining. The company also offers cards tailored to Walmart and Pottery Barn shoppers that pay rewards of 5% based on spending at those stores.
A Closer Look at Select Capital One Rewards Cards
Capital One offers a variety of credit cards. Here’s a look at a sampling to show you the rewards you’d receive — and the cost of using the card.
| Card | Details |
|---|---|
| Venture X Rewards | –Annual fee: $395 –Welcome Bonus (once requirements are met): 75,000 miles –APR: –Rewards: 2 miles/dollar on all purchases; at least 5 miles per dollar on travel bookings through Capital One Travel –Credit level: Excellent –Other: $300 travel credit; 10,000 anniversary bonus points; Priority Pass lounge access |
| Venture Rewards | –Annual fee: $95 –Welcome Bonus (once requirements are met) : 75,000 miles –APR: –Rewards: 5 miles per dollar on select travel bookings through Capital One Travel –Credit level: Good to excellent –Other: Credit toward TSA PreCheck or Global Entry |
| VentureOne Rewards | –Annual fee: $0 –Welcome Bonus (once requirements are met) : 20,000 miles –APR: –Rewards: 1.25 miles/dollar on all purchases; at least 5 miles/dollar on select travel bookings through Capital One Travel –Credit level: Good to excellent –Other: Access to entertainment events |
| Quicksilver Rewards | –Annual fee: $0 –Welcome Bonus (once requirements are met) : One-time $200 cash bonus if you spend $500 on your purchases within 3 months of opening the account –APR: 0% intro for 15 months; after that –Rewards: 1.5% cash back on all purchases –Credit level: Excellent –Other: No foreign transaction fee outside U.S. |
| Savor Rewards | –Annual fee: $95 –Welcome Bonus (once requirements are met) : One-time $300 cash bonus –APR: –Rewards: 4% cash back on dining, entertainment and streaming services; 3% back at grocery stores; 1% back on other purchases –Credit level: Excellent –Other: No foreign transaction fee outside U.S. |
Use the Capital One App To Redeem Miles and Get Cash
Redeeming your rewards is easy when you sign into your account online or through the app. You can spend your rewards miles on things such as flights, hotels or other travel costs. With the cash back cards, you can choose to receive payment via check, a statement credit or gift card, or to make purchases on Amazon or through your linked PayPal account.
How To Use Travel Miles
So when you open your app, what options will you have for using your travel miles?
If you want to use your rewards miles for future travel, you can book a trip by redeeming your miles through Capital One Travel. You also may transfer your miles to a partner airline and book your travel that way. And if you happened to pay for travel another way, your miles are available to cash in for reimbursement. And what if you have more miles than you need? Transfer them to someone who also has a Venture card, or use them for event tickets through Capital One Entertainment.
How To Get Cash Back
You may convert the rewards earned through both the Quicksilver and Savor labels into cash, other rewards like travel and entertainment, or gift cards. They also can be used to make payments via PayPal or shop on Amazon.com. You will need to link your accounts to your Capital One account.
How To Redeem Rewards for Experiences
Capital One Rewards card holders have access to Capital One Entertainment, which offers tickets to concerts, sporting events and dining experiences. You can combine cash and points to acquire your event entry.
Final Take
If you’re interested in boosting your credit card rewards, whether for travel or cash back, Capital One likely has a product to meet your needs. If you’re a frequent traveler, the Venture X Rewards card offers a hefty amount of bonus miles to go with miles earned for everyday spending, and the high annual fee could be worth the benefits. If you want a rewards card but don’t have the strongest credit history, Capital One also has a product to accommodate your needs.
FAQ
Here are answers to your frequently asked questions about Capital One rewards.- Do capital one rewards expire?
- As long as your account is open and in good standing, they have no expiration date.
- Is there a cap on capital one rewards?
- No. You may continue to earn rewards with no ceiling.
- Is there an annual fee for capital one rewards?
- Some Capital One Rewards cards carry no fee. Others have fees that vary depending on the perks offered. The annual cost for the Venture X Rewards card is $395.
Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Dec. 13, 2023.
*Capital One interest rates accurate as of 4/5/24. See website for all current rates.
Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article.
