The Capital One® Venture® Rewards Credit Card, one of NerdWallet’s highest-rated travel cards because of its simplicity and flexibility, is adding another valuable feature: reimbursement of the application fee for federal trusted-traveler programs that allow members to use quicker airport security lines.
When using the Capital One® Venture® Rewards Credit Card to pay the application fee for TSA Precheck ($85) or Global Entry ($100), cardholders will automatically receive a statement credit for that amount.
The new benefit, not offered on any other Capital One card, goes into effect June 12, 2018.
The primary benefit of Precheck is the privilege to use faster security lines at U.S. airports. Global Entry includes the benefit of Precheck plus expedited entry through U.S. customs when you return from a foreign country. But Global Entry can be a bigger hassle when applying.
Capital One officials decided to add the benefit based on customer feedback, said Lauren Liss, vice president of U.S. cards at Capital One. Millennials, in particular, cited it as a valuable perk for traveling for personal or business reasons, she says.
“It’s a benefit that resonates,” she says. “We want to continue to evolve the Venture card to fit their needs and make it more rewarding as well as a valuable product for them.”
Because the statement credit is automatic when you use the card to pay the application fee, it doesn’t add complexity to the card. Simplicity is one of the flat-rate card’s advantages over other travel cards, which potentially can be valuable but are often wildly complex.
“For Capital One, it’s really about simplifying people’s lives and helping them save time and money,” Liss says.
The trusted-traveler programs expire every five years, requiring renewal and another application fee. Capital One® Venture® Rewards Credit Card cardholders can use the benefit once every four years, building in a time cushion to reapply before enrollment in the programs lapse.
“We want to make sure that we’re doing it so our customers are truly enjoying the benefit without a gap,” Liss says.
In May 2018, 92% of TSA Precheck passengers waited less than five minutes in a Precheck airport security line, according to the TSA. The program is available at more than 200 airports via 53 airlines.
Popular new perk
Reimbursing application fees for TSA Precheck and Global Entry is quickly becoming a common benefit on travel credit cards. Once offered only with premium cards with annual fees of hundreds of dollars, the feature has funneled to less-expensive cards.
For example, the Capital One® Venture® Rewards Credit Card has an annual fee of $0 for the first year, then $95. “We’re paving the way for accessibility to this type of benefit for everyday travelers, not just folks who are willing to pay $400-plus per year,” Liss says.
On June 1, Chase added the same perk to the United℠ Explorer Card, with an annual fee of $0 for the first year, then $95.
Some newly introduced travel cards offer reimbursement for one or both of the programs, including the hotel card IHG® Rewards Club Premier Credit Card, with an annual fee of $89.
Hotels.com 10x benefit
The addition to the Capital One® Venture® Rewards Credit Card is its second significant benefit upgrade this year. In January, Capital One added the ability to earn 10 miles per dollar spent when booking stays through Hotels.com/venture on:
This offer is available through January 2020. Because miles are worth 1 cent each when redeemed for travel, the deal essentially amounts to 10% off hotel stays.