A Full Capital One Ventureone Card Review.

If you’re not a big spender, the annual fee for a top travel credit card may be more expensive than the points you’d receive from using the card. It’s possible to earn rewards with the Capital One VentureOne Rewards Credit Card — the $0 annual fee version of the popular travel credit card from Capital One — while also not having to worry about the value of your rewards being reduced by a fee.

However, numerous no-annual-fee travel cards can provide you with larger continuing benefits, as well as more generous sign-up bonuses, to get you started on your travel adventure. It’s preferable if you first consider your alternatives.

Basics of the Capital One VentureOne Rewards Credit Card from Capital One

  • The annual charge is zero dollars.
  • 20,000 miles as a sign-up bonus when you spend $500 on purchases within three months of account establishment, which is equivalent to $200 in travel.
  • 0% introductory APR for 15 months on purchases and debt transfers, followed by a variable APR ranging from 14.99 percent to 24.99 percent for the remainder of the term.
  • Foreign transaction fees are zero.
  • Other perks (available to cardholders who have chosen the Visa Signature option):
  • (Please keep in mind that benefits may alter over time.)
  • When you use the card to pay for your trip arrangements, you will receive complimentary travel accident insurance. The terms and conditions apply.
  • Rental car coverage.
  • On qualified goods, you can get an extended warranty.

Consider the following reasons why you might desire the Capital One VentureOne Rewards Credit Card:

Savings on fees and interest

If you’re not a frequent flier and only use credit cards on rare occasions, the $0 annual fee is a significant selling feature for many people. In exchange for carrying the card, you’ll get incentives while paying nothing in interest, provided you pay your amount in full each month to prevent accruing interest. The Capital One VentureOne Rewards Credit Card, which is a Visa card, also works well while travelling overseas because it has no foreign transaction fees and does not require a passport (and therefore widely accepted). If you need some more time to pay off a significant purchase, the card offers an introductory 0% APR term for purchases, which is a pretty uncommon benefit offered by a travel credit card provider.

Redemption flexibility

In terms of travel cards, the redemption method for the Capital One VentureOne Rewards Credit Card is as flexible as it gets when it comes to credit cards. When miles are redeemed for travel, they are worth one penny each. There are three methods to redeem your points:

  • Make use of your miles to book travel with Capital One’s online travel booking system.
  • Use your card to pay for your travel expenses, and then redeem your miles for a statement credit to offset the cost of your trip.
  • Transfer your miles to the world’s most prestigious travel reward programmes.

Reasons why you might prfefer a different credit card

You can get better rewards

When you consider that the 1.5 percent base rewards rate for no-fee rewards cards has very much become the industry norm, this card’s 1.25 percent basic rewards rate is unimpressive. Compare it to the following alternatives:

The Bank of America® Travel Rewards credit card has no annual fee and earns 1.5 points per dollar spent on all purchases. Points are worth 1 cent each when redeemed for travel using the credit card. That card also provides a more generous sign-up incentive: 25,000 online bonus points when you spend at least $1,000 in purchases in the first 90 days of account activation – which can be redeemed for a $250 statement credit against travel expenses.

In addition, there is no annual cost for the Discover it® Miles programme, which awards 1.5 miles for every dollar spent on everything. Miles are worth one cent each, regardless of whether they are redeemed for travel or cash. It also comes with an interesting extra offer: ONLY Discover offers you an unlimited match of all the Miles you’ve accrued at the conclusion of your first year, and no other credit card does so. Consider the following example: if you earn 35,000 Miles, you will receive 70,000 Miles. There are no requirements to sign up, no minimum spending requirements, and no maximum prizes. It was simply a Miles-for-Miles duel.

Not ideal for bigger spenders

Unless you anticipate to spend more than $12,750 per year on your card — or around $1,060 per month — the normal Capital One Venture Rewards Credit Card would provide better value, even after deducting the $95.95 annual premium from the total value of the card. This is due to the fact that it provides you with two miles for every dollar paid (a 60 percent higher rate than the no-fee card). Furthermore, this card offers a significantly higher sign-up bonus: Enjoy a one-time bonus of 60,000 miles once you spend $3,000 on purchases within three months of opening your account, which is comparable to $600 in travel expenses. You’ll also receive a credit against your application fees for Global Entry or TSA Precheck. 

A cash-back credit card provides greater freedom.

When it comes to travel credit cards, it is understandable that the redemption is targeted toward travel. If you choose to utilise your rewards for something other than what they were intended, you will often receive less value. When you use your Capital One VentureOne Rewards Credit Card to obtain cash back, your miles are worth 1 cent per mile when redeemed for travel, but only roughly half that amount when used to get cash back. Instead, consider the Citi® Double Cash Card – 18-Month BT deal from Citi. Each purchase earns you 2 percent cash back: 1 percent when you make the purchase and 1 percent when you pay off the balance of the transaction. The annual charge is zero dollars.

What is the Capital One VentureOne Rewards Credit Card and should you acquire one?

Capital One VentureOne Rewards Credit Card is a good option if you’re searching for a low-cost travel credit card with a lot of perks. However, in general, alternative no-annual-fee credit cards might provide better value both upfront and over time.

And if you’re willing to pay an annual fee in return for better features and bonuses, you can find even more possibilities on our top travel credit cards post.