Capital One has 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 that pays 1.25 No Hassle Miles per $1 spent.
While we’re happy to see a new 2% card, we continue to believe the Fidelity & Schwab 2% cash cards, as well as the Discover Escape, are much better options. This is because No Hassle Miles can’t be exchanged for airline miles, and are a bit of a pain to redeem, whereas the other cards are either cash back cards or redeemable for cash. Also, the Discover Escape has a more generous signing bonus (1,000 miles per month for the first 25 months) than Venture (10,000 miles after spending $1,000 in the first 3 months).
On a positive note however, it is unusual to find a 2% card on the Visa / MasterCard network, and if that is your primary concern, the Venture is as good a choice as any.
