Capital One VentureOne Rewards Review 2022

GOBankingRates Score

4.5
Quick Take: Capital One VentureOne Rewards is a popular credit card among avid travelers. It allows users to earn simple travel rewards on all spending while skipping high annual fees — unlike its sibling, the Capital One Venture Rewards. This credit card doesn't limit traveling purchases to certain airlines and hotels, and it even lets holders use it for their everyday purchases. Read on to find out if the Capital One VentureOne Rewards credit card is a good fit for you.
  • Sign Up Bonus
    4.9
  • Perks
    4.0
  • Earning Rewards/ Cash Back
    4.0
  • Fees
    5.0
How did we calculate this?

Much like with any other financial product, the Capital One VentureOne Rewards credit card has its own set of advantages and disadvantages. Here’s a list of the most relevant ones:

Pros

  • Offers miles for travel
  • No airline or hotel limitations
  • $0 annual fee
  • No foreign transaction fees
  • Offers 1.25 miles per dollar spent
  • Offers Capital One's travel benefits and protections
  • Offers introductory APR for a limited time

Cons

  • Rewards can only be redeemed within a limited time frame
  • High APR for balance transfers
  • Mediocre travel rewards when compared with other cards

For a credit card with no annual fees, the Capital One VentureOne Rewards credit card offers pretty decent rewards. However, it still falls short when compared with other options on the market.

This card has no caps on the number of miles users can earn, and each purchase earns 1.25 miles per dollar. Every 100 miles equals $1 in travel rewards. Yet, these benefits must be redeemed within 90 days of the travel purchase. New account holders are eligible to earn a one-time welcome mileage bonus.

About Capital One VentureOne Rewards

Capital One VentureOne Rewards is a moderate rewards-earning credit card. It offers an unlimited amount of 5 miles per dollar on travel expenses like hotel bookings, car rentals and airfares paid through Capital One. Additionally, it gives users a 1.25 miles per dollar reward on every other purchase.

Within the first three months of an account being opened, the VentureOne card offers new users 20,000 bonus miles after they spend their first $500.

This popular travel credit by Capital One has a 0% introductory APR on balance transfers and purchases for 15 months. After that period, it offers an APR between . The VentureOne may not be as rewarding as its more expensive sibling, the Venture Rewards credit card. However, it does provide users with a highly coveted perk: a $0 annual fee.

Casual reward earners may also enjoy the ability to transfer their miles to any qualifying airline or hotel program. The flexibility of the Capital One VentureOne Rewards credit card doesn’t stop there, as it allows holders to spend their reward balance using PayPal and Amazon.

This credit card is worth a shot, given that it offers many additional benefits to account holders despite its earning rate not comparing well to other low to no-annual-fee reward cards out there.

Who Is It Best For?

The Capital One VentureOne Rewards credit card may not be one of the banking institution’s best offerings when it comes to earning some serious miles. However, its lack of an annual fee may make it worth it for users who are not willing to spare a hefty sum each year.

Despite its relatively low rewards when compared with other options in the market, the Capital One VentureOne offers a wide array of extra benefits, which is Capital One’s signature for most of their cards.

The Capital One VentureOne Rewards credit card might be a perfect product for those beginner traveler reward seekers who want to test the waters without committing to hefty annual fees. Its simplicity makes this credit card suitable for those who’d rather not deal with complex reward-earning systems and capped mile-earning categories.

This card is an affordable option that offers:

  • No foreign transaction fees
  • Rental car damage coverage
  • Travel accident insurance
  • No balance transfer fees after the introductory APR period

Not only does VentureOne allow users to monitor flight and hotel rates throughout the most popular travel sites. It protects the account holder’s interests by providing a partial refund if the price drops after purchase.

Features

VentureOne Rewards has all the benefits of a traditional Capital One credit card and more. Here are some of the special features this alternative offers its users:

  • Extended warranty on all items purchased
  • Complimentary 24/7 concierge service
  • Identity theft support services
  • Travel upgrades
  • Travel services
  • Trip cancelation and interruption insurance
  • Travel accident insurance
  • Hotel and flight price protection
  • Emergency card replacement
  • Emergency cash advance
  • Car rental insurance
  • Travel delay insurance
  • Miles transfer
  • Access to exclusive events
  • Especial coupon codes
  • Access to the Capital One Lounge
  • Free access to FICO credit score
  • $0 fraud liability protection

The Capital One VentureOne Rewards credit card comes with many different travel and shopping perks. Here’s a deeper dive into some of the many benefits account holders can enjoy.

Extended Warranty

The free additional warranty protection covers eligible items purchased with the VentureOne Rewards credit card.

Complimentary 24/7 Concierge

This service allows cardholders to effortlessly book hotel rooms, make event and dinner reservations and more.

Identity Theft Support

Account members have access to this service free of charge to protect their purchases if their card gets misplaced or stolen.

Travel Upgrades

VentureOne cardholders have access to complimentary upgrades when applicable.

Travel Services

Account members can access early check-in and late check-out and other useful travel benefits.

Trip Cancelation and Interruption Insurance

The plan covers up to $1,500 when a trip is canceled or cut short by injury or illness.

Travel Accident Insurance

This perk protects the user’s travel plans in case they’re affected by an accident.

Price Protection

This credit card benefit guarantees a partial refund in case cardholders find a cheaper deal within 120 days of finalizing a purchase.

Baggage Delay Insurance

This protection covers lost and misplaced luggage.

Car Rental Insurance

The plan allows users to skip the car rental company’s insurance. The collision damage waiver covers vehicles rented with this credit card for damage due to collision or theft.

Travel Delay Insurance

This allows users to get compensation for any expenses resulting from travel delays.

Travel Assistance

The insurance covers roadside assistance and medical services.

Emergency Card Replacement

The bank will send users an expedited credit card replacement in case their credit card gets stolen or misplaced.

Emergency Cash Advance

Users can use this feature in case they don’t have another card or cash backup.

Emergency Card Replacement

If your credit card is lost or stolen, you can get an emergency replacement card.

Miles Transfer

The VentureOne miles rewards card allows users to transfer their miles to over 15 travel loyalty programs.

Discount Codes

Capital One Shopping is a feature for online shopping. It automatically applies available coupon codes to any order.

Capital One Lounge Access

With VentureOne Rewards, account holders can relax away from the airport crowds at an exclusive space with luxurious amenities.

Additional VentureOne Benefits

Apart from all the perks mentioned above, the VentureOne card lets account members use their rewards for shopping at Amazon and on eligible PayPal purchases at many different online stores. The VentureOne credit card is compatible with Apple Pay and allows users to quickly manage their accounts from the Capital One online banking app.

Account members also have free access to their updated FICO credit scores.

The Capital One Travel feature included with VentureOne allows users to get the best prices available when booking hotels and flights. Additionally, if you find a better price within 24 hours after booking, Capital One will refund you the difference. Bookings can be paid upfront using the card miles or combining credit with rewards.

Capital One account holders have access to security alerts when suspicious activity is detected on their account, and if their card gets lost or stolen, they are covered by the bank’s $0 fraud liability protection.

Capital One VentureOne Credit Card’s Rewards

As mentioned above, Capital One VentureOne Rewards account holders can earn 5 miles per dollar on travel expenses like hotel and air bookings and car rentals booked through Capital One Travel. Additionally, they can automatically make 1.25 miles per dollar spent on any other purchase.

There are no caps regarding miles and rewards, which means there’s no limit on how many points a customer can earn and spend within their account lifespan. However, if the account is closed for any reason, all miles are lost without exception.

Earning miles is easy with the VentureOne Rewards credit card, but redeeming them might be slightly more complicated. Although miles can be redeemed for past and new travel purchases made with the credit card, users need to keep their calendars handy. If they don’t take action within 90 days of finalizing a miles-rewarding purchase, they will no longer be eligible to collect their points.

Rewards earned with the Capital One VentureOne Rewards credit card can be transferred between Capital One accounts. They can also be used with eligible loyalty programs in which they may be worth a lot more in terms of cash equivalence.

A good recommendation, though, is to read the fine print to understand the rules and limitations of transfer programs and avoid undesirable surprises.

Good To Know

Capital One cards use EMV chip technology to ensure secure transactions outside the U.S. That’s why it won’t require you to call or give any notice if you’re traveling abroad.

Capital One VentureOne Rewards vs. Competitors

Here’s how the Capital One VentureOne holds up to its main competitors in the market:

Capital One VentureOne Rewards Credit Card vs. Capital One Venture Rewards Credit Card

Capital One Bank offers more than one Venture credit card. Two of these are the Capital One VentureOne Rewards and Capital One Venture Rewards. At a glance, it might look like they offer the same perks. However, Venture Rewards provides users with higher mile earnings per dollar spent and a more generous new cardmember offer.

With a $0 annual fee, the VentureOne is a more affordable option. It also requires less spending to qualify. For $95 a year, the Venture Rewards may be a better option for some, as it offers expanded benefits.

Capital One VentureOne Rewards Credit Card vs. Chase Freedom Flex Credit Card

Both these cards are quite similar when comparing their welcome bonus in terms of cash equivalence and their APR grace period. However, when comparing the rewards both options provide, there are some major differences. The Freedom Flex’s rewards are calculated differently. This card offers the following:

  • 5% cash back on eligible purchases across different categories
  • 5% cashback on travel purchases through Chase Ultimate Rewards
  • 3% cashback on drugstores
  • 3% cashback on dining
  • 1% cashback on all other purchases

Neither VentureOne nor Freedom Flex have annual fees. Yet, the Freedom Flex is a lot more complex and has many rules to keep an eye on regarding rewards. This credit card also charges users a 3% foreign transaction fee.

Capital One VentureOne Rewards Credit Card vs. Discover it Miles

Another contender in the race for the best travel credit card is the Discover it Miles. This option is very different from Capital One’s Venture One. Discover it Miles offers slightly higher rewards per dollar spent at 1.5 miles. These rewards can even be credited towards a minimum payment.

The Discover it Miles has a more generous welcome bonus than its Capital One counterpart. It matches the entire number of miles earned during the first year of holding the account without a limit or minimum.

Final Take

The Capital One VentureOne credit card might not be the best travel-focused credit card in the market. For some, it may fall short when compared with other no-annual-fee all-around reward credit cards. However, it still has many perks that make it an attractive alternative for casual miles earners.

Capital One VentureOne Rewards FAQ

If you still have more questions about the Capital One VentureOne credit card, here's some additional information that may help you.
  • What do you need to apply for the Capital One VentureOne credit card?
    • Capital One will ask you for your basic personal information to open an account. This may include:
      • Full name
      • Social Security number
      • Date of birth
      • Physical address
      • Estimated gross annual income
  • How long does it take to receive the Capital One VentureOne card once approved?
    • Typically it takes Capital One up to 10 business days unless your credit card is secured. In this case, you'll have to pay a deposit before the credit card ships, and the 7-to-10-business-day period will start from there.
  • Can you use the Capital One VentureOne Rewards credit card anywhere?
    • The Capital One Venture can be used anywhere major credit cards are accepted. This applies whether you are in the United States or not. Additionally, you can use your card to book hotels and flights online and even for shopping. Furthermore, Capital One charges no foreign transaction fees when using your card abroad.

Cynthia Measom contributed to the reporting for this article.

Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of July 11.

Editorial Note: This content is not provided by Capital One, Chase or Discover. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by Capital One, Chase or Discover.

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About the Author

Daniela Rivera is a bilingual freelance content creator with an advertising and media background. She has a degree in Communication Science and over 10 years of work experience as a copywriter. She specializes in generating engaging and creative concepts and texts for advertising, e-commerce, blogs, podcasts and social media.

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