The Capital One Venture Rewards credit card was my very first foray into the travel credit card landscape, and I’m still happy with it years later. When I first signed up I knew very little about credit cards – suffice it to say that the annual fee of $ 95 seemed daunting at the time.
But it’s been easy to get more than the annual fee worth of the Venture Card each year I’ve owned it, and I like having a flexible miles card that also allows me to earn a fixed rate of rewards on each. purchase. Not to mention that the card currently offers a sign-up bonus of 60,000 miles when you spend $ 3,000 on purchases in the first year. This number of miles (worth around $ 600 worth of travel) is usually only offered by the more expensive luxury cards on the market.
So, is the Capital One Venture Card worth it? I think so, and I think the same is true for many other types of spenders. But it’s not for everyone, so here’s a breakdown to help you decide if this Capital One credit card is right for you.
Capital One Venture Rewards Credit Card: Overview
- Reward Rate: 2X miles on all purchases, plus 5X miles on hotels and rental cars booked through Capital One Travel
- Welcome Offer: Earn 60,000 bonus miles when you spend $ 3,000 on purchases in the first three months after account opening.
- Annual membership fee: $ 95
- Other benefits: no foreign transaction fees, up to $ 100 credits for Global Entry or TSA PreCheck membership, virtual card numbers for secure online shopping and more
Reasons why the Venture Card is worth the annual fee
The signup bonus is top notch
The Venture Card currently offers 60,000 miles for an expense of $ 3,000 in the first three months. While the total spending threshold of $ 3,000 may be too high for some cardholders, the value of this bonus is incredible for an entry-level travel card. If you redeem for travel purchases, those 60,000 miles can earn you $ 600 worth of flights, hotels, rental cars and more.
You earn a solid flat rate of miles on every purchase
Unlike other rewards credit cards that offer more miles in specific spending categories, the Venture card offers the same rate of 2 miles per dollar on every purchase. This simple framework takes all the planning and guesswork out of winning with the card – no need to withdraw it just for certain expense categories or worry about merchant category codes. All you have to do is swipe your Capital One Venture card every time you make a purchase and watch the rewards accumulate.
The advantage of a high flat rate of spending like this is that it is suitable for many types of cardholders. Those who like to keep it simple with a must-have card for everything they buy can count on a competitive rate no matter what they buy.
Then again, cardholders like me who like to juggle multiple credit cards to earn more in particular categories also have a lot to gain. That’s because the 2X miles per dollar earned on general purchases with the Venture is higher than the standard 1 mile per dollar on cards with tiered earning categories.
For example, the Blue Cash PreferredÂ® card from American Express is one of my favorite credit cards thanks to its 6% cash back on purchases in US supermarkets (up to $ 6,000 per year, then 1%). But it only earns 1% cash back on purchases like airline tickets or online purchases. By using my Blue Cash Preferred for groceries and then redeeming my Venture Card for new clothes, I can ensure that I get the best possible return on my spending.
Global Entry / TSA PreCheck exemption covers annual fees for the first year
In addition to a great reward rate, the Capital One Venture Card will cover up to $ 100 (as statement credit) towards your Global Entry or TSA PreCheck application fee every four years. If you max out that offer, it pays more than your first year annual fee and renews every four years thereafter.
Not to mention, these programs can save frequent travelers a lot of time at the airport.
The redemption of points is very flexible
The miles you earn with the Capital One Venture card are also extremely flexible and offer the same value of 1 cent per point whether you book travel through the Capital One portal or any other third-party site. Many travel credit cards only offer full point value when you book through the issuer, so this is a big plus for cardholders who like to budget across multiple platforms.
The menu is just luxurious
The Capital One Venture Card is a metal credit card, and while that’s obviously not a defining feature, it does add a certain sense of luxury when you take it out of your wallet. In fact, the Venture is one of the heaviest metal credit cards on the market, even more so than some cards that require annual fees of over $ 400.
Learn more: Capital One Venture Card Benefits Guide
Reasons why the Venture Card might not be worth it for you
Less than stellar travel transfer partners
True connoisseurs of points and miles know that a good list of transfer partners is the best way to get the most out of your credit card rewards. Capital One’s travel partners don’t quite live up to American Express or Chase listings, though their recent updates, including three new airline partners and a new hotel partner, have provided value. additional. In addition, Capital One improved the transfer ratios of seven of its transfer partners to 1: 1.
The value of non-trip mileage redemptions is low
The Venture Card is first and foremost a travel card, and this is evident in its rewards redemption structure. While redeeming for travel purchases is very flexible and gives you stable value, trying to spend your miles on options outside of travel isn’t that lucrative. Cash Back Rewards, for example, only earn you 0.5 cents per mile, and purchases on Amazon, 0.8 cents.
This means that you will need to travel at least semi-regularly to truly reap the rewards of the Venture Card.
Is the Capital One Venture Card worth it?
If you can take advantage of the sign-up bonus, application credit for Global Entry or TSA PreCheck, and flexible redemption options for travel purchases, the Venture Card is well worth it. A fixed earning rate makes it easy to offset the annual card fees.
But if you don’t spend a lot on travel and prefer rewards that can be used for cash, you might want to go with a different card. The CitiÂ® Double Cash card, for example, allows you to earn up to 2% cash back on every purchase: 1% when you buy and an additional 1% when you pay for your purchases. It doesn’t have a signup bonus or a lot of fancy perks, but it doesn’t charge an annual fee either, and the rewards are much more flexible.
The bottom line
Ultimately, the Capital One Venture Card offers an easy way to earn a good amount of rewards. Travel enthusiasts who like to accumulate as many points as possible will find that their spending goes a step further with other travel rewards card issuers that have more beneficial reward structures and robust transfer partner programs.
That being said, if you’re looking for an easy way to earn miles and enjoy a few cardholder perks, the Capital One Venture Card makes it easy.