A credit card that offers travel rewards is a great idea for someone who frequently gets the itch to see the world. And if you find yourself traveling more regularly, it may be time to consider a more upscale credit card.
The Capital One Venture One Rewards Credit Card and the Capital One Venture Rewards Credit Card are designed for frequent travel consumers. Although both cards have similar rewards systems and perks, the number of miles you earn per dollar spent and the annual fee are where the cards diverge.
Capital One Venture Rewards Credit Card is one of the best travel credit cards on the market because it offers 5X miles on hotels and rental cars booked through Capital One Travel, 2X miles on all other purchases, and a $100 credit toward the cost of applying for Global Entry or TSA PreCheck every four years.
Using the annual spending of the average American and a thorough examination of the benefits and downsides of each card, Select has ranked the best 33 travel credit cards to help you choose the best one for your specific needs. (For more on how we pick the top cards, please go to our approach.)
See below for a rundown of the Capital One Venture Rewards Credit Card’s perks, features, and costs to help you choose if it’s the ideal card for you.
Benefits Beyond Rewards:
- The Capital One Venture Rewards Credit Card
- Fees
- Briefly restating
Reward Program For The Capital One Venture Rewards Credit Card
Capital One Venture Rewards Credit Card provides a straightforward rewards scheme that offers 2X miles on all purchases. In addition, all hotel stays and auto rentals made through Capital One Travel will earn you 5X miles.
Spend $4,000 on purchases during the first three months of creating your account, and you’ll receive 75,000 bonus miles.
Select determined the maximum possible rewards for an average American user of the Capital One Venture Rewards Credit Card. The location-based services provider Esri with whom we collaborated provided a sample yearly spending budget of $22,126.
The grocery store section of the budget totals $5,174, the petrol section $2,218, the restaurants section $3,675, the vacation section $2,244, the utilities section $4,862, and the miscellaneous section $3,953.
Using a Capital One Venture Rewards Credit Card, you can rack up annual miles in the following ways:
Produce: 10,349
Gas: 4,435
Number of diners: 7,349
Amount of miles traveled: 6,351
Cost of utilities: $9,724
The total of all retail purchases: 7,906
Total: 46,113
In the first year of card membership (including miles earned from the welcome bonus), the average American can expect an estimated $2,422 in rewards (based on the Esri annual spending budget). In the fifth year of card membership, the average American can expect to earn an estimated $3,055 in rewards.
This is predicated on the assumption that cardholders get the maximum possible value per mile when redeeming their miles. Value creation by powerful optimizers is not ruled out, and your return could be more significant or lower depending on how much you invest. Your rewards will stay valid indefinitely if your account is active.
You can either use your points as a statement credit on a past travel purchase or book a future trip through the Capital One Rewards Center to cash in on your rewards. Note that you have 90 days to redeem your statement credit when your travel purchase posts to your account.
Also, you can select to transfer your points or miles to hotels and airlines that are partners, such as JetBlue and Qantas, with varying redemption ratios. JetBlue, as one example, has a balance of 2:1. (1,000 Venture miles are worth 750 JetBlue TrueBlue points). Capital One Venture Rewards Credit Card members get 1 mile for every 1 cent spent on travel purchases made through Capital One Travel, including airline and hotel stays.
Amazon.com is another online store where Capital One cardholders can redeem their rewards points and cash back. The company now offers the Shop with Points redemption option to cardholders alongside American Express, Chase, Citi, and Discover. Whenever a cardholder purchases Amazon.com, they can choose how many of their available rewards to use. For every $1 in Amazon.com credit you receive, you can redeem 125 miles.
Advantages
The benefits of this card can be used in various ways, both during travel and after that. Access to premier culinary, music, and sports events like the New York City Wine & Food Festival and the iHeartRadio Music Festival; up to $100 off the application fee for Global Entry or TSA PreCheck every four years; 24-hour travel assistance services; trip cancellation/interruption insurance; car rental collision damage insurance; roadside assistance; purchase protection; extended warranty protection; up to $100 off the application fee for Global Entry or TSA PreCheck every four years; and up to $100 off the application fee for Global Entry or TSA Pre
CreditWise, Capital One’s credit score, and report dashboard are free. You don’t have to have a Capital One account to utilize it, and it’s free of charge. CreditWise allows customers to keep tabs on their credit history, learn more about the variables that go into calculating their ratings, and receive email notifications whenever there are any updates.
Fees
Although the $95 annual fee on the Capital One Venture Rewards Credit Card is meager compared to other travel rewards cards (some of which have annual fees of up to $550), it is still worth considering.
Spending $4,750 a year on the card will earn a cardholder enough rewards to offset the $95 annual charge. The typical American spends $22,126 annually, as estimated by consumer expenditure data from location intelligence firm Esri; this should be feasible. However, you may not want to add another credit card with an annual fee to your wallet if you already have many.
With that stated, the $100 credit toward a Global Entry application every four years more than makes up for the card’s annual fee on the Capital One Venture Rewards Credit Card.
There is no introductory 0% APR period, and the ongoing variable APR for both purchases and balance transfers is 17.49% to 25.49%. There are no international transaction fees, which significantly benefits tourists traveling abroad. Promotional balance transfers incur a 3% fee, whereas transfers of existing balances incur no price.
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