Hello Friends, I hope all is well with you! I am going to be reviewing the VentureOne Rewards from Capital One. These opinions are my own, and I am in no way influenced by anyone.
Overall Verdict: The VentureOne Rewards from Capital One is a decent no annual fee travel rewards credit card. It offers a flat rate rewards program; however, there are other cards out there that have a higher reward amount, you can even use other cash back rewards cards to pay for travel expenses. This card, however, does provide you with extensive travel benefits similar to the Quicksilver card. It’s important to balance reward amount and benefits as both of them are important for traveling purposes.
Some things about this card I like:
- No annual fee
- No foreign transaction fee
- Extensive benefits
- The ability to transfer miles to partner companies
- Sign-up bonus
Some things about the card that I don’t like:
- Low reward amount
What type of reward are you getting?
This rewards credit card offers you the opportunity to earn travel miles for every dollar that you spend. After the billing cycle ends, Capital One will take your net purchases (purchases minus any returns) and award you travel miles based on your net purchases. The miles will start accumulating in your account until you decide to redeem the rewards. Capital One offers you a few ways to redeem your miles, which I like. The first way is to use the miles as a statement credit towards travel expenses; you can also apply it to past travel expenses you made with the card. The second way is to transfer your miles to other loyalty programs that Capital One has partnerships with. For Example, Capital One has a partnership with JetBlue and their loyalty program, what you can do is transfer your Capital One travel miles to JetBlue’s loyalty program. The reason why some people opt to do this is because sometimes partner loyalty programs offer you more to redeem the miles with them. Each Capital One mile is worth about $0.01, which means that 10,000 miles is the equivalent of $100 redeemed as a statement credit through Capital One. Some of partner loyalty programs can be redeemed at $.015 or $0.02 when redeemed through them; this means more bang for your buck. The important thing is to check who the partner programs are and how they value them. The last way to redeem your travel miles is cash, but they won’t offer you the full value of your rewards. So your 10,000 miles might be worth $50 as cash instead of the $100 it would be worth as a statement credit.
Is there an annual fee?
The VentureOne Rewards from Capital One does not have an annual fee.
What is the rewards amount?
You will have the chance to earn 1.25x travel miles for every dollar that you spend; there are no categories or certain stores that you have to specifically shop at in order for you to get the reward. There is also no limit to the amount of rewards you can earn. I will be honest that this card is at the lower end of the reward spectrum, but it does have the extensive benefits that people look for, so make sure to take that into consideration.
Is there a bonus offer?
This no annual fee Capital One Travel rewards credit card has a sign-up bonus of 20,000 miles when you spend at least $1,000 on purchases within the first three months of the account opening. The 20,000 miles is equivalent to $200 when redeemed as a statement credit towards travel expenses; that’s a 20% return on the money you would have spent regardless.
Are there foreign transaction fees?
A good attribute about this rewards credit card is that it does not have a foreign transaction fee.
Are there any other benefits?
The VentureOne Rewards from Capital One does offer a wide range of benefits such as:
- Travel accident insurance – this is insurance against a covered loss that results in a trip interruption; you must use your card to purchase the fare
- Extended warranty – you get extended warranty protection on eligible items; you must use your card to purchase that item
- Auto rental collision damage waiver – it provides you secondary rental car insurance, this insurance is only paid out once your primary car insurance has been maxed out for the claim
- 24-hour travel assistance services – if your card has been misplaced or stolen, you can get an emergency replacement card and a cash advance
- $0 fraud liability –you are not responsible for unauthorized charges if card is lost or stolen
- Card lock – you have the ability to lock your card on the app
- Creditwise – you can check your credit score without it being affected
- Account alerts and security alerts – you can set up alerts to notify you when payments are due or other alerts you want to receive. Additionally, Capital One will contact you if they detect a suspicious purchase
What is the interest rate and are there any other fees?
You are offered a 0% introductory APR for 15 months from the date your account is opened. Once the introductory offer ends, your APR will be 15.49%, 21.49%, or 25.49%, but this depends on your credit score.
Their other fees include:
- Cash advance fee – $10 or 3% of the amount of each cash advance, whichever is greater.
- Late payment fee –up to $39
- Balance transfer fee – 3% of the amount of each transfer balance
- Returned payment fee – up to $35
How is the customer service like?
Capital One offers you a few different ways for you to contact them. The first way would be to call the number on the back of the card. The second way would be to send your question or problem via mail. The final way you can have your question or problem resolved is through their chat bot named ENO. ENO will attempt to redirect you to various pages based on what you type in the chat; Eno will also try to answer the most common questions, but you may have to end up calling Capital One based on the complexity of your question or if you are unable to find your answer through ENO. An important note to mention is that you may experience longer than usual wait times from time to time, and you may have different experiences with their agents from time to time.
Should you get the VentureOne Rewards from Capital One?
Who it’s perfect for:
- People who don’t want an annual fee
- People who don’t want a foreign transaction fee
- People who want a sign-up bonus
- People who want extensive benefits
- People who have excellent credit scores
Who it isn’t perfect for:
- Big Spenders
- Frequent Travelers
- People who want the highest reward possible
If you are still unsure if a rewards credit card makes sense, check out my post on Why You Should Use Rewards Credit Cards.
Additionally, if this card isn’t right for you, I invite you to check out my credit cards page for more information on other cards.