Capital One VentureOne Rewards credit card review 2023
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There are many types of credit cards out there. For those that travel often, cards that earn points and miles — often called travel reward cards — can be a smart option to choose.
With these, each dollar you spend helps you earn miles to put toward future travel. They also may give you certain travel discounts, perks, and protections (like travel insurance, for instance).
One such card is the Capital One VentureOne Rewards Credit Card. Are you considering a travel credit card for your expenditures? Here's what you need to know about this card and whether it's right for you.
What is the Capital One VentureOne Rewards Credit Card?
The Capital One VentureOne is a rewards credit card designed to help you earn travel miles on your regular spending.
The card is issued by Capital One bank and comes with a 0% introductory APR that lasts for 15 months. After that, your variable APR will range between 19.99% and 29.99%, depending on your credit.
Capital One VentureOne Rewards travel perks breakdown
Since the VentureOne card is a travel credit card, let's dive into the travel perks first. When you sign up for the card and spend at least $500 in the first three months from account opening, you'll automatically earn 20,000 bonus miles. Beyond that initial bonus, you can earn:
- 1.25 miles per every dollar spent
- 5 miles per dollar on hotels and rental cars you book through Capital One Travel
Travel miles can be transferred to more than 15 different travel loyalty programs or you can redeem rewards for reimbursements toward past travel expenses (within 90 days of purchase). You'll also get automatic travel accident insurance when booking trips with your card. Finally, there are no foreign transaction fees when you use your VentureOne card outside of the U.S.
Capital One VentureOne Rewards credit card rates and fees
The VentureOne card comes with no annual fee and a 0% introductory interest rate on new purchases and balance transfers for the first 15 months. After that, the variable rate ranges from 19.99% to 29.99% depending on your credit score.
Balance transfers come with a 3% fee on the amounts transferred within the first 15 months, 4% at a promotional APR that Capital One may offer you at any other time, and cash advances have a fee of $5 or 5% of the amount — whichever is greater. Late payment fees are up to $8.
Capital One VentureOne card pros and cons
The biggest perk of the VentureOne card is its ability to help you quickly build up travel miles, particularly if you use the card often. It also has a handy travel platform you can use to book trips, and if you opt not to travel for a while, you have other options for using your miles.
The 0% intro APR can make the VentureOne card a good balance transfer option, too, though keep in mind the 3% balance transfer fee it comes with.
On the downside, the card is recommended for consumers with "good-excellent" credit. According to Capital One, this means you've never declared bankruptcy or defaulted on a loan, you haven't been more than 60 days late on a credit card, medical bill or loan in the last year, and you've had a loan or credit card with a limit over $5,000 for at least three years.
