In late Feb of 2010, Capital One released a new 2% card, the Venture. Users earn 2 No Hassle Miles per $1 spent, with a $59 annual fee. The company has also released a no-fee version, the VentureOne, that pays 1.25 No Hassle Miles per $1 spent.
Nice card, but how does it compare to other rewards cards?
At NerdWallet, we understand that picking the right credit card is all about understanding the other options, kind of like finding a spouse or a puppy. While we’re happy to see a new 2% card, NerdWallet lists 10 cards that can pay ~2%+, depending on your spending patterns. Don’t worry, we’ll walk you through the main ones you should consider below.
Is an auto credit card, with 3%+ rewards, right for me?
Consider the GM and Subaru cards, both of which pay 3%, but with severe caveats. Update – the GM card can actually earn as much as 5%. You have to deal with “per vehicle limits” when spending the bonus, frequently around $1000 per GM vehicle for example, and you also have to deal with annual caps ($500 per year on the Subaru credit card), and the fact that you need to buy a GM or Subaru vehicle to make use of these rewards.
Fidelity 2% Cash Cards vs Capital One Venture
Fidelity’s 2% cash back credit cards have no annual fee, versus $59 for the Venture. In addition, you get cash back, which beats No Hassle Miles, which must be used to offset travel expenses on your credit card statement – for example 14,000 miles could be used to whack $140 off an airline ticket you purchase with the card.
However, there are two legitimate reasons why you might want to pay the $59 and deal with No Hassle Miles, rather than going with Fidelity. First, there are no other credit cards with a 2%+ base rewards rate on the Visa/MasterCard networks, out of our database of nearly 1,000 credit cards, other than the aforementioned GM and Subaru cards. Second, you need either a Fidelity 529 account, IRA account, or a brokerage account, in order to qualify for the Fidelity credit card.
| Capital One® Venture℠ Rewards Credit Card | Fidelity Credit Card | ||||||||
|---|---|---|---|---|---|---|---|---|---|
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| Signing Promo | |||||||||
| Earn 10,000 bonus miles, equal to $100 in travel | None | ||||||||
| Intro APR Promo | |||||||||
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| Annual fee | |||||||||
| $0 intro for first year; $59 after that | $0 | ||||||||
| Details | |||||||||
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Capital One® Venture℠ Rewards Credit Card versus Discover Escape
In the world of rewards cards, the most similar card to Capital One’s $59 annual fee version of Venture is Discover Escape. In fact, it seems as if the card was designed to compete with Escape head on.
If you use the two cards in the exact same manner, by redeeming miles to offset travel expenses on your statement, the only differences between the two cards are:
To the Venture’s credit, it is unusual to find a 2% card on the Visa / MasterCard network, which seems to be a bit more widely accepted in many areas, especially internationally. And if you can’t stand the thought of driving a GM or Subaru, both of which are MasterCard, Venture is your best option, now that the Charles Schwab 2% card is no more.
| Capital One® Venture℠ Rewards Credit Card | Discover Escape | |
|---|---|---|
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| Network | Visa | Discover |
| Annual Fee | $0 the first year, then $59 thereafter | $60 |
| Rewards | 2 No Hassle Miles per $1 spent | 2 Discover Miles per $1 spent |
| Comment | 2% reward value when redeemed against travel expenses on your statement. | 2% reward value when redeemed against travel expenses on your statement. |
| Sign Up Bonus | 10000 – after spending $1000. | 25000 – 1,000 per month for first 25 months |
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Want more data?
Check out our Capital One Venture page for calculators and interest rate data galore. Also, compare all our rewards cards side by side on our main page.
You can see just which cards earn you the highest reward rate, based on your spending allocation towards the 3 extremely popular “bonus categories” – gasoline, groceries, and dining, by testing out our rewards credit cards comparison engine.