The Capital One Venture Rewards Credit Card is great for anyone who doesn’t want to be tied to a particular loyalty program. Cardholders have the option of using miles to book travel through Capital One’s website using miles. Or they can book through any travel booking site and use the Purchase Eraser to redeem miles for a statement credit. The bank has also added 15+ airline partners that you can now transfer miles to.
Here are all the reasons you should really consider adding the Capital One Venture Rewards Credit Card to your wallet.
1. The welcome bonus
Let’s start with the welcome bonus: Earn 100,000 bonus miles when you spend $20,000 on purchases in the first 12 months from account opening, or still earn 50,000 miles if you spend $3,000 on purchases in the first 3 months. That's a pretty good bonus with a spending requirement isn’t too outrageous.
2. Earn 2 points per $1 on everything
The card has great earning power: Every purchase you make will earn 2 miles per $1 spent. While other cards may earn 3x on bonus categories or 5x on rotating categories, much of your everyday spending may fall outside of those bonus-earning opportunities. So 2x on everything will add up fast. And you won’t have to keep track of which card to use or remember to activate quarterly bonus categories.
3. Easy point redemptions
One of the biggest selling points of this card the ease of redeeming rewards. You don’t need to search for award space in a particular loyalty program. You can fly on any airline or stay at any hotel, with no blackout dates. As long as there is space available, you can book travel using your Capital One Venture Rewards Credit Card and use the Purchase Eraser to get a statement credit.
4. Transfer points to travel partners
Capital One miles can now be transferred to 16 airline programs, including Air Canada Aeroplan, Air France/KLM Flying Blue, Avianca LifeMiles and Singapore Airlines KrisFlyer, to name a few. (Just be aware that the transfer rates aren't always advantageous.)
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5. Global Entry or TSA Precheck application credit
You’ll receive up to a $100 application fee credit for Global Entry or $85 for TSA Precheck, which will help speed through immigration and airport security. That benefit is good for five years and you can get the statement credit again in four years, if you keep the Capital One Venture Rewards Credit Card.
» Learn more: TSA Precheck vs. Global Entry: Which is right for you?
6. Miles don’t expire
You won’t have to worry about your miles expiring with the Capital One Venture Rewards Credit Card. Miles are valid as long as your account is open and there’s no limit on how many miles you can earn.
7. The annual fee
The annual fee is $95. So you get the welcome bonus, 2x miles on purchases and the Global Entry/TSA Precheck fee credit for no upfront cost. That gives you a whole year to decide if the card is worth keeping in the long run.
» Learn more: Capital One Venture: Is the annual fee worth it?
8. No foreign transaction fees
Last, but not least, the card has no foreign transaction fees. These can really add up at around 3% on every transaction when using your card abroad.
The bottom line
The Capital One Venture Rewards Credit Card would be a good starter card for someone new to collecting points and miles. It’s also a nice addition for someone who already holds some co-branded travel cards, because it offers greater flexibility on redemptions when you can’t find award availability through a traditional airline or hotel rewards program.
How to Maximize Your Rewards
You want a travel credit card that prioritizes what’s important to you. Here are our picks for the best travel credit cards of 2021, including those best for:
Flexibility, point transfers and a large bonus: Chase Sapphire Preferred® Card
No annual fee: Bank of America® Travel Rewards credit card
Flat-rate travel rewards: Capital One Venture Rewards Credit Card
Bonus travel rewards and high-end perks: Chase Sapphire Reserve®
Luxury perks: The Platinum Card® from American Express
Business travelers: Ink Business Preferred® Credit Card