Ben Todd | Jun 2, 2017 | 1
Capital One Venture Rewards Credit Card Review (Updated 2016)
The Capital One Venture One Rewards credit card is a solid, flat rate miles rewards credit card issued by Capital One Bank. This card will allow you to accumulate travel miles quickly which can be redeemed for a variety of travel purchases. This review will tell you all you need to know about the Capital One Venture One Rewards Credit Card.
Our Favorite Things About This Card
- 0% Introductory Offer: You will enjoy a 0% introductory A.P.R. on all purchases until February 2017. This would allow you to make a big purchases with the card and slowly pay it off without have to pay any interest. After the intro period a variable A.P.R. ranging from 12% to 22% applies.
- Earn unlimited 1.25 Miles: This card will award you with an unlimited 1.25 miles per $1 spent on all purchases. This is great as you don’t have to worry about limits on how many miles you can earn. If you spend $10 000 with this card in a year, you will earn 12 500 miles.
- Miles do not expire: This miles earned on this card do not expire, allowing you to accumulate miles for as long as you want before you redeemed them.
- 20 000 miles bonus offer: This card will award you with 20 000 bonus miles after you spend $1000 within the first 3 months of card opening. This is equal to $200 worth of travel, its basically free money.
- No foreign transaction fee: This card does not charge you a fee when you use this card in a foreign country or use this card to pay for something in a foreign currency. This makes the card great to use while travelling abroad. Many cards charge a fee of 3% which can add up to a lot of money.
- No annual fee: This card will not charge you an annual fee, this is great as you don’ t have to factor in the annual fee to see how much you are really benefiting from the rewards. Many similar cards to this card, do have an annual fee.
- Many redemption options: You can redeem your miles for a wide variety of travel purchases such as hotel stays, flights, cruises, vehicle rentals, and vacation packages, pretty much any travel expense that is charged to this card. You can also redeem your miles as a statement credit if you prefer.
- Visa Signature Benefits: If you get the Visa Signature version of this card, you will receive many more benefits and perks. If you have excellent credit, and high income, there’s good chance you will qualify for following Visa Signature Benefits:
- Complimentary Concierge Service: If you need assistance with anything related to the credit card, you can call the concierge service. They will help you find and book travel deals, make reservations, book flights and more.
- Vehicle Rental Insurance: If you use this card to pay for your vehicle rental, you will be covered for any possible accidents and theft.
- Extended Warranty: Any items you purchases with this card will automatically have extended warranty applied to them.
- Purchase Security: If an eligible item purchased with the card is either damaged or stolen you can be reimbursed up to $500 per claim. A unique feature most cards don’t have.
- Roadside Assistance: You will receive roadside assistance if your car breaks down, or if you get locked out of your vehicle. Each service call will cost $59, however this includes any towing you might need, as well as tire changing, battery jump starting, and a lockout service. This can save you a lot of money as towing can cost up to $200 to $300.
- Lost Luggage Coverage: If any of your luggage is lost when travelling on any airline, you will be covered for up to $3000. In order to qualify for this service, you will have to have charged the full cost of your travel booking on the credit card.
Things We Dot Not Like About The Capital One Venture One Rewards Credit Card
- High cash advance fee: This card charges a cash advance fee of either $10 or 3%, whichever is greater. You will be charged this fee overtime you use the card to withdraw cash from an A.T.M. If you are withdrawing a large sum of money the fee will be hefty, so try to avoid using his card to withdraw cash.
Who The Capital One Venture One Card Best Suits
- Those looking for a travel card that does not have an annual fee.
- Those looking for a card they can use while travelling with no foreign transaction fees.
How The Capital One Venture One Compares With Similar Cards
Capital One Venture Rewards Credit Card
Many people wonder what the difference between the Capital One Venture One Rewards card vs Capital one Venture Rewards card is. The Venture One card does not have an annual fee while the Venture card does have a $59 annual fee, although the fee is waived in the first year. Furthermore, the Venture One card awards 1.25 miles per every $1 spent, while the Venture card awards 2 miles per $1 spent.The bonus offer is different as well as the Venture One card awards you with the 20 000 miles, while the Venture card awards you 40 000 miles after you spend the first $3000 in the first 3 months. This is equivalent to $400 in travel which is double the bonus you get on the Venture One card. The Venture One Card has a 0 % intro A.P.R. until February 2017 while the Venture card does not have the intro offer.
If you are a big spender you would benefit more from the Venture card as it awards a higher rate on miles. However if you do not think you will spend enough to make up for the annual fee then the Venture One card is the better choice.
Discover IT Miles Credit Card
This credit card has a great bonus offer as Discover will double all the miles you have earned at the end of your first year. So if you have earned 25 000 miles, Discover will award you with an additional 25 000 miles. This card also has an intro offer, as it features 0% intro A.P.R. on all purchases for 12 months. After the 12 months the A.P.R. ranges from 13% to 23%. It also features a intro A.P.R. of 10.99% on all balance transfers for 1 12 months. Both cards do not have an annual fee, and both do not have a foreign transaction fee. This card has a higher rewards rate as you will earn an unlimited 1.25 miles per $1 spent. Depending on how much you spend, the bonus offer on the Discover card could be more or less then the Venture one bonus. If you will spend a lot, then you will benefit more from the Discover IT card. Another benefit this card has is the ability to track your FICO score online, which will be updated monthly. If you are a big spender you will get more value out of the Discover IT card.
Bank Americard Travel Rewards Credit Card
This card is another travel rewards card that awards the user points rather then miles. You will earn an unlimited 1.5 miles per $1 spent on all purchases. This card has a nearly identical bonus offer as you will earn 20 000 bonus points after you spend the first $1000 in the first 3 months of card opening. This is equivalent to $200 in travel, just like the Venture One card. Both cards do not have an annual fee or a foreign transaction fee. This card has a introductory offer of 0% intro A.P.R. for the first 12 months on all purchases, after the intro period, a variable A.P.R. ranging from 15% to 23% applies.The Venture one card has a slightly lower interest rate then this card. The points are redeemed similar to the Venture One card, as you can redeem your points for a statement credit that can be used for flights hotels, cruises, auto rentals and vacation packages. Overall these cards are nearly identical except for the fact that this card offers 1.5 points per $1 spent, compared to the 1.25 miles earned with the Venture One card. You really can’t go wrong with either card.
Should You, Or Shouldn’t You, Our Final Verdict
Overall, the Capital One Venture One Rewards card is a high quality card that offers good value in all areas. For a card with no annual fee, you get several benefits including no foreign transaction fee. This card has everything you would really want in a credit card. However, with that being said, if you are a big spender you could get a higher rewards rate with others cards, such as the Chase Sapphire Preferred card. Cards such as the Chase Sapphire Preferred will have an annual fee, however if you are a big spender you the benefits will outweigh the annual fee.
To sum things up, if you are an average spender, then you should get this card as it has everything you would want in a travel reward card.