Capital One Venture Rewards Credit Card Review 2023: Travel Rewards and Other Perks
Written by
Joshua Rodriguez
Edited by
Elizabeth Constantineau
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4.4
Pros
- Cardholders earn 5 miles per dollar spent on Capital One Travel purchases and 2 miles per dollar spent on all other purchases.
- Members can redeem rewards for statement credits or travel purchases.
- The card offers a competitive interest rate.
- New cardholders can earn a welcome bonus.
Cons
- Cardholders are charged a $95 annual fee.
- The card doesn't come with an introductory interest rate.
- Rewards can only be used for travel.
Capital One Venture Rewards Card Overview
The Capital One Venture Rewards credit card was designed for people who love to travel, offering users five miles for every dollar spent on hotels and rental cars booked through Capital One Travel. Cardholders can also enjoy two miles per dollar spent on day-to-day non-travel purchases.
New cardholders can earn a welcome offer of 75,000 bonus miles after meeting the spending requirements. Additionally, the card offers price-drop protection, providing a partial refund to customers if a flight’s price falls after they book it.
Though rewards can be redeemed only for travel benefits, cardholders can redeem rewards by booking travel via Capital One Travel or through statement credits for travel purchases.
Key Features
The Capital One Venture Rewards credit card comes with several intriguing features. Here’s a look at some of the most interesting perks.
Rewards
The credit card has a very generous rewards-earning structure. Cardholders earn five miles for every dollar spent on travel expenses like hotels and rental cars when they book their trips through Capital One Travel. For those who travel often, like business travelers, points will rack up rapidly.
The card is also a good fit for those who travel occasionally and use credit card rewards to reduce the cost. Every time a cardholder uses the Venture Rewards card, they’ll earn two miles for each dollar spent. So, even the average consumer who decides to use the card for groceries and gas has the opportunity to build rewards at a steady rate.
This fast rate of rewards earnings is why the Capital One Venture Rewards card comes with such a high annual fee. The company’s website points out that consumers who want to avoid the annual fee also have the option of signing up for the VentureOne credit card instead, which allows them to earn miles at a lower rate of 1.25 miles per dollar spent.
Fees and Interest
For the most part, the fees and interest charged on the Capital One Venture Rewards card are in line with the company’s competition.
Fees charged to cardholders include:
| Fee | Venture Rewards Card | Average |
|---|---|---|
| Purchase APR | 23.98% | |
| Balance Transfer Fee | 3% of the amount transferred when promotional rates are applied; none when promotional rates are not applied | 3% to 5% of the amount transferred |
Customer Service
Any time a consumer considers a financial service, they should look into the quality of customer service provided.
With Capital One, cardholders are working with one of the largest and most trusted lending institutions in the world. Therefore, they can be confident that their money is in capable hands.
Moreover, when customers have questions, Capital One’s customer support team is available 24 hours per day, every day, including holidays. The support staff should be able to handle any questions posed by customers.
Welcome Bonus
Welcome bonuses are popular among rewards credit cards, offering new cardholders the ability to rack up substantial rewards points within the first few months of being approved. The Capital One Venture Rewards card is no different.
New members will receive a 75,000-mile bonus when they spend $4,000 in the first three months. Based on the competition, it’s a rather generous sign-up bonus.
Other Features of the Capital One Venture Rewards Card
Here’s a look at additional benefits that come with the Venture Rewards card.
Reward Redemption
Capital One makes redeeming miles a simple process. Customers can get their hands on their rewards in a variety of ways:
- Booking travel: Those who take advantage of this offer can also use their rewards to book travel through Capital One’s travel agency.
- Amazon.com: Cardholders can use their rewards to pay for purchases on Amazon.com.
- PayPal: Cardholders can use their rewards to pay for eligible purchases via PayPal at online stores.
Free Visits to the Capital One Lounge
Capital One Venture Rewards cardholders get two free visits to Capital One Lounges or partner lounges at airports each year. There is currently just one Capital One Lounge location (Dallas-Fort Worth), but additional lounges are scheduled to open at Denver International Airport and Dulles International Airport in Washington, D.C., sometime in 2023. The partner lounge network consists of more than 100 airport lounges worldwide.
Cardholders who have layovers or departures in one of these three airports will be able to relax and recharge with high-end amenities, including locally grown foods and beverages in the Capital One Lounge.
Capital One Dining
Capital One cardholders get first-class access to unique dining experiences and reservations at award-winning restaurants.
Global Entry or TSA PreCheck Reimbursement
Capital One reimburses cardholders for fees associated with Global Entry or TSA PreCheck services once every four years, up to a maximum of $100.
Access to Events and Dining Benefits
On top of access to exclusive reservations for award-winning restaurants and food experiences, Capital One cardholders also receive special access to live music events. This includes access to on-site lounges and special VIP packages.
Moreover, cardholders get discounted VIP access and tickets to some of the most popular sporting events in the world.
Lowest-Priced Travel
When reserving a travel experience through Capital One Travel, cardholders receive a lowest-price guarantee. Capital One even provides price-drop protection, reimbursing cardholders for the additional cost of travel should prices drop after they’ve made their reservations.
How the Capital One Venture Rewards Card Stands Out
The ability to earn 5x points on your travel purchases makes the Capital One Venture Rewards card competitive. Plus, the card offers flexible ways to redeem your rewards. You can book travel through Capital One Travel, get reimbursed for travel purchases you make elsewhere, or transfer the points to one of Capital One’s travel partners.
Finally, the premium travel rewards card comes with special access to airport lounges, which is something that frequent travelers can appreciate.
Comparable Credit Cards To Consider
The Capital One Venture Rewards card is unique because of the exclusive perks offered to cardholders. Few credit cards give customers access to private lounges in airports, exclusive statuses with rental car services or the guaranteed ability to purchase the lowest-priced travel.
The card is also on the high end of the spectrum when it comes to welcome bonuses and the ability to earn rewards quickly.
Nonetheless, there are competitive offers that some applicants may find more appealing. For those who find that the Capital One Venture Card isn’t the best fit for them, some comparable cards of interest include the following options.
Capital One VentureOne Rewards Card
The Capital One VentureOne Rewards credit card offers many of the same perks you’ll find with the Venture Rewards card. While cardholders don’t have free access to the Capital One Lounge, they are eligible to take part in Capital One Dining offers, the lowest-cost travel guarantee and unique Capital One experiences.
VentureOne cardholders can also earn five points per dollar when booking travel through Capital One Travel and 1.25 points per dollar on all other purchases. There’s also a $0 annual fee on the card.
Bank of America® Travel Rewards Card
The Bank of America, Member FDIC, Travel Rewards credit card offers 25,000 bonus points, worth $250, when cardholders spend at least $1,000 in the first 90 days. Cardholders also get 1.5 miles per dollar spent on everyday purchases.
There’s no annual fee, and the card comes with an Annual Percentage Yield of .
How To Apply
You can apply for a Capital One Venture Rewards credit card directly through Capital One’s website. When you click the “Apply Now” button, be prepared to provide personal and financial details. A few things you’ll be asked to share include your name, Social Security number, date of birth, annual income and other financial details.
Anyone unsure about their approval odds should consider getting pre-approved first.
Who the Capital One Venture Rewards Card Is Best For
The Capital One Venture Rewards card is best for people with excellent credit scores who want to stretch their travel budget with a lucrative points-earning card. Through this credit card, cardholders can rack up points when making travel purchases through Capital One. Plus, you’ll still earn 2 points for every dollar you spend on other purchases.
Not only can you build a solid point balance, but you also have flexible ways to redeem these points. You won’t be limited to travel purchases through Capital One Travel, you’ll be able to redeem the points as reimbursements for other travel purchases. Anyone with their eye on traveling more can find a lot to like about this credit card.
Final Take
The Capital One Venture Rewards credit card is a compelling option for consumers who use their rewards credit cards often and travel often. With a $95 annual fee to contend with, those who don’t travel frequently are likely better suited with another option, like the VentureOne card or the Bank of America Travel Rewards credit card, both of which come with no annual fee.
Additionally, rewards credit cards incentivize spending, which makes it easy to rack up overwhelming amounts of credit card debt. Only those with a strong sense of self-control and keen budgeting skills should consider taking advantage of any rewards credit card.
Capital One Venture Rewards FAQ
- How much are Capital One Venture points worth?
- Each mile cardholders earn using the Capital One Venture Rewards credit card is worth 1 cent, which comes out to $1 for every 100 miles. So when a customer amasses 100,000 miles, they will have $1,000 in travel rewards to redeem.
- How often can you get the Capital One Venture bonus?
- As with most credit cards, the sign-up bonus offered with the Venture Rewards card can only be earned once.
- Do Capital One rewards expire?
- Miles earned on the Capital One Venture Rewards card will not expire as long as the cardholder keeps the credit card open. However, once the account is closed, earned rewards will no longer be available.
- What is the Capital One Venture Rewards card good for?
- The Capital One Venture Rewards credit card is best for earning travel rewards quickly. Cardholders earn at least 2 miles for every dollar spent.
- Is it hard to get a Venture Capital One card?
- The Capital One Venture Rewards card accepts borrowers with an excellent credit score, which Equifax defines as 800 or higher. With that, borrowers who don't meet the credit requirements will find it difficult to get this credit card.
- What is the credit limit for the Capital One Venture One card?
- The credit limit for the Capital One Venture One credit card varies based on your unique financial details. The issuer will consider your annual income, housing payment, credit score and more when determining your credit limit.
- What credit score do you need for Capital One Venture card?
- The Capital One Venture card works with borrowers who have excellent credit. Based on that, you'll likely need a credit score of 800 or higher to be accepted.
- What is the Capital One Venture card good for?
- The Capital One Venture card is an excellent choice for people who want to use their card to pay for travel purchases and build travel rewards. But it's not a good fit for someone looking for a cash back earning option.
Cynthia Measom and Sarah Sharkey contributed to the reporting for this article.
Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of June 15, 2023.
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- LendingTree. 2022. "The Average Credit Card Sign-Up Bonus in America Today."
- LendingTree. 2023. "Average Credit Card Interest Rate in America Today."
- NextAdvisor. 2022. "How a Balance Transfer Could Help You Save Money, Even If You Have to Pay a Fee."
- Hopper. 2022. "2023 Travel Outlook Report: Top 3 Travel Trends to Watch in 2023."
