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Capital One VentureOne vs. Venture: Is the Annual Fee Worth It?

Ben Luthi

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If you’re looking for a travel rewards credit card, the Capital One® Venture® Rewards Credit Card is one of the best. But there’s one aspect of the card that might turn off frugal travelers: an annual fee. For that, you may be inclined to consider the card’s lite version, the Capital One® VentureOne® Rewards Credit Card. But passing on a card simply because it has an annual fee may cost you.

At a glance
	Capital One® VentureOne® Rewards Credit Card	Capital One® Venture® Rewards Credit Card
Annual fee	$0	$0 for the first year, then $59
Sign-up bonus	Enjoy a one-time bonus of 20,000 miles once you spend $1,000 on purchases within 3 months of approval, equal to $200 in travel	Enjoy a one-time bonus of 40,000 miles once you spend $3,000 on purchases within 3 months of approval, equal to $400 in travel
APR	0% on Purchases for 12 months, and then the ongoing APR of 12.24% - 22.24% Variable APR	The ongoing APR is 13.24% - 23.24% Variable APR
Rewards rate	Unlimited 1.25X miles per dollar on all purchases	Unlimited 2X miles per dollar on all purchases
Who would want each card?
	Capital One® VentureOne® Rewards Credit Card	Capital One® Venture® Rewards Credit Card
Good for:	Someone who can’t stomach an annual fee Someone who needs time to pay off a large purchase Someone who wants flexible travel rewards	Someone who wants flexible travel rewards Someone who is looking for a large sign-up bonus Someone who wants a low annual fee
Bad for:	Big spenders Someone who wants cash-back rewards Someone who doesn’t travel often	Someone who spends less than $8,000 a year Someone who wants cash-back rewards Someone who doesn’t travel often

Capital One® VentureOne® Rewards Credit Card vs. Capital One® Venture® Rewards Credit Card: The basics

The Capital One® VentureOne® Rewards Credit Card and the Capital One® Venture® Rewards Credit Card share the same basic DNA. With each card, your daily swiping generates miles, which you can use to book travel or redeem for travel statement credits or gift cards at a rate of $0.01 per mile. There are other redemption options, including cash back, but they come at a lower rate and aren’t recommended. Neither card charges a foreign transaction fee.

Beyond the basics, a few features can help you decide which card is for you.

The Capital One® VentureOne® Rewards Credit Card and the annual fee dilemma

For thrifty travelers, paying an annual fee can be painful. So on the surface, the Capital One® VentureOne® Rewards Credit Card might seem like the better choice with its $0 annual fee. But if you dive deeper into the math, you’ll see that paying the Capital One® Venture® Rewards Credit Card’s annual fee might be worth it.

For starters, the Capital One® Venture® Rewards Credit Card’s annual fee — $0 for the first year, then $59 — is relatively cheap compared with other travel credit cards. Also, the card’s high ongoing rewards rate makes it easier to overcome the annual fee.

The right card for you may depend on how much you plan to spend on it every year. If you spend $8,000 annually, you’ll earn roughly the same rewards on both cards, even with the Capital One® Venture® Rewards Credit Card’s annual fee.

Rewards = [Amount spent * (rewards rate * mile value)] – annual fee

But if you spend more than $8,000 — or $666.67 monthly — you’ll earn more rewards with the Capital One® Venture® Rewards Credit Card, and the annual fee will be paid for. If you expect to spend less, then the Capital One® VentureOne® Rewards Credit Card might be a better option.

Get a bigger sign-up bonus with the Capital One® Venture® Rewards Credit Card

If you’re still wondering if paying the Capital One® Venture® Rewards Credit Card’s annual fee is worth it, consider its sign-up bonus: Enjoy a one-time bonus of 40,000 miles once you spend $3,000 on purchases within 3 months of approval, equal to $400 in travel.

For a $0 annual fee card, the Capital One® VentureOne® Rewards Credit Card’s sign-up bonus isn’t bad: Enjoy a one-time bonus of 20,000 miles once you spend $1,000 on purchases within 3 months of approval, equal to $200 in travel. But compared with its sister card, you’re not getting nearly as much value. Again, those who spend less may still find value in the Capital One® VentureOne® Rewards Credit Card because its spending requirement is lower. But if you can afford the Capital One® Venture® Rewards Credit Card’s requirement within the frame of your normal spending, the Capital One® Venture® Rewards Credit Card makes more sense.

Take your time to pay off a large purchase with the Capital One® VentureOne® Rewards Credit Card

One major advantage the Capital One® VentureOne® Rewards Credit Card has over the Capital One® Venture® Rewards Credit Card is its introductory APR period: 0% on Purchases for 12 months, and then the ongoing APR of 12.24% - 22.24% Variable APR. While its intro period length may not measure up to the top 0% cards on the market, it’s an impressive addition to a card that already has a decent sign-up bonus and better-than-average rewards.

If you want travel rewards and you have a big purchase coming up, add the amount you’ll save in interest payments with the Capital One® VentureOne® Rewards Credit Card to how much you can earn in rewards to help you make your decision.

Which card is better?

Both the Capital One® VentureOne® Rewards Credit Card and the Capital One® Venture® Rewards Credit Card have strengths that are difficult to discount. If you’re not sure which one to choose, take a look at your current spending. If it’s more than $666.67 a month, the Capital One® Venture® Rewards Credit Card is likely the better option. But if it’s less, or if you’re buying a big-ticket item soon, you’ll find more value in the Capital One® VentureOne® Rewards Credit Card.

Updated July 27, 2016.

Ben Luthi is a staff writer at NerdWallet, a personal finance website. Email: bluthi@nerdwallet.com. Twitter: @benluthi

Image via iStock.

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David Joyce

I’m confused where you’re saying it earns 2%. It earns 2 miles per dollar on every purchase. But I don’t see anything about it earing 2% cashback. I just signed up for this card too and now I’m confused and not sure I should have. I should have looked more closely at Capital One’s page….
- Jon Beer
  
  The miles are valued at 1 cent, so 2 cents back from $1 is 2%.
- Cassandra Telenko
  
  I realize that this post is old. But so others are aware.. you get 2% if you apply it to your statement transactions (i.e. you find a qualifying transaction that is valued less than your available points and get a statement credit). But, if you try to get cashback you only get 1%.
David Joyce

I’m confused where you’re saying it earns 2%. It earns 2 miles per dollar on every purchase. But I don’t see anything about it earing 2% cashback. I just signed up for this card too and now I’m confused and not sure I should have. I should have looked more closely at Capital One’s page….
David Joyce

I’m confused where you’re saying it earns 2%. It earns 2 miles per dollar on every purchase. But I don’t see anything about it earing 2% cashback. I just signed up for this card too and now I’m confused and not sure I should have. I should have looked more closely at Capital One’s page….
- Jon Beer
  
  The miles are valued at 1 cent, so 2 cents back from $1 is 2%.
- Cassandra Telenko
  
  I realize that this post is old. But so others are aware.. you get 2% if you apply it to your statement transactions (i.e. you find a qualifying transaction that is valued less than your available points and get a statement credit). But, if you try to get cashback you only get 1%.
Rebecca Albiani

Sounds good, but we just had a horrific customer service experience with
this card without even getting to use it. My husband applied &
received one to use as a backup credit card for a trip to Europe, then I
applied for a second card under my name. I tried to set up online
payment with my card & it didn’t work; I called to find out why
& the rep said oh, you have to do that with the primary card. OK,
fine. Anyway, I didn’t get around to registering my car for a while
after that, & when I did, I found out that it had been canceled, due
to “fraud,” apparently after my earlier phone call. So had my husband’s
account. Only they didn’t bother to call us & let us know the
account had been canceled or check with us to see if there had truly
been fraud or anything. Neither the registration woman nor the fraud
dept. woman she transferred me to spoke English terribly well, and they
couldn’t explain what had happened – they said it was under
investigation & private. My husband tried to call & was
actually much nicer than I was, & the reps hung up on him. TWICE.
End result, we have no backup credit card for Europe. We will NEVER use
this company again.
- Jared Lupton
  
  So, things to consider in the future. Ask to speak with someone who you can understand clearly; mentioning bad English doesn’t usually go over well behind the scenes. Also, if a card company does not ask for your personal information at the start of a conversation to ensure they know they are talking to you, your personal security is at risk, and you can’t trust them, so don’t bother servicing with them. And, always ask questions to make sure they know you’re concerned about your safety, because if they are concerned about fraud, most times, fraudsters do not ask these questions because it could blow back on them. Hope this helped. Also, calling when you’re in a good mood works wonders, believe me, as does courtesy, for developing the relationship.
Rebecca Albiani

Sounds good, but we just had a horrific customer service experience with
this card without even getting to use it. My husband applied &
received one to use as a backup credit card for a trip to Europe, then I
applied for a second card under my name. I tried to set up online
payment with my card & it didn’t work; I called to find out why
& the rep said oh, you have to do that with the primary card. OK,
fine. Anyway, I didn’t get around to registering my car for a while
after that, & when I did, I found out that it had been canceled, due
to “fraud,” apparently after my earlier phone call. So had my husband’s
account. Only they didn’t bother to call us & let us know the
account had been canceled or check with us to see if there had truly
been fraud or anything. Neither the registration woman nor the fraud
dept. woman she transferred me to spoke English terribly well, and they
couldn’t explain what had happened – they said it was under
investigation & private. My husband tried to call & was
actually much nicer than I was, & the reps hung up on him. TWICE.
End result, we have no backup credit card for Europe. We will NEVER use
this company again.
Rebecca Albiani

Sounds good, but we just had a horrific customer service experience with
this card without even getting to use it. My husband applied &
received one to use as a backup credit card for a trip to Europe, then I
applied for a second card under my name. I tried to set up online
payment with my card & it didn’t work; I called to find out why
& the rep said oh, you have to do that with the primary card. OK,
fine. Anyway, I didn’t get around to registering my car for a while
after that, & when I did, I found out that it had been canceled, due
to “fraud,” apparently after my earlier phone call. So had my husband’s
account. Only they didn’t bother to call us & let us know the
account had been canceled or check with us to see if there had truly
been fraud or anything. Neither the registration woman nor the fraud
dept. woman she transferred me to spoke English terribly well, and they
couldn’t explain what had happened – they said it was under
investigation & private. My husband tried to call & was
actually much nicer than I was, & the reps hung up on him. TWICE.
End result, we have no backup credit card for Europe. We will NEVER use
this company again.
- Jared Lupton
  
  So, things to consider in the future. Ask to speak with someone who you can understand clearly; mentioning bad English doesn’t usually go over well behind the scenes. Also, if a card company does not ask for your personal information at the start of a conversation to ensure they know they are talking to you, your personal security is at risk, and you can’t trust them, so don’t bother servicing with them. And, always ask questions to make sure they know you’re concerned about your safety, because if they are concerned about fraud, most times, fraudsters do not ask these questions because it could blow back on them. Hope this helped. Also, calling when you’re in a good mood works wonders, believe me, as does courtesy, for developing the relationship.
Barbara Burkett

I’ve had a great experience with Capital One customer service and the “chat” helpers, they have always been anxious t0 help me with any questions or problems that I’ve had. This summer when I was in Europe I had my luggage stolen with my credit card number in it. Since I was in desperate need to use the credit card to pay rent on an apartment etc. Capital one block the account unless I called to let them know that I needed to make a charge. They stayed on the line until the charge was completed then they blocked it again. It took time for them to do this, I’ve never had such personal service from any online company. Thank you Capital One!
Barbara Burkett

I’ve had a great experience with Capital One customer service and the “chat” helpers, they have always been anxious t0 help me with any questions or problems that I’ve had. This summer when I was in Europe I had my luggage stolen with my credit card number in it. Since I was in desperate need to use the credit card to pay rent on an apartment etc. Capital one block the account unless I called to let them know that I needed to make a charge. They stayed on the line until the charge was completed then they blocked it again. It took time for them to do this, I’ve never had such personal service from any online company. Thank you Capital One!
Rochelle

Hi I’m really new to this credit card thing. This will be my first credit card actually but I really want a credit card I can gain travel perks. I will only put my phone bill that is about 60.00 month on the credit and maybe some other smaller charges. Which one would you recommend for a broke college student who is look to travel?
- NerdWallet
  
  Hi Rochelle, thanks for reaching out to NerdWallet! Someone from our team will be reaching out shortly – keep an eye on your email :)

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Capital One® VentureOne® Rewards Credit Card vs. Capital One® Venture® Rewards Credit Card: The basics

The Capital One® VentureOne® Rewards Credit Card and the annual fee dilemma

Capital One® VentureOne® Rewards Credit Card

Pros

Bonus Offer

Annual Fee

Intro APR Promotions

APR

Card Details

Get a bigger sign-up bonus with the Capital One® Venture® Rewards Credit Card

Capital One® Venture® Rewards Credit Card

Pros

Cons

Bonus Offer

Annual Fee

Intro APR Promotions

APR

Card Details

Take your time to pay off a large purchase with the Capital One® VentureOne® Rewards Credit Card

Which card is better?

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