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Capital One Venture Rewards Credit Card: 4 Reasons to Get It Now

May 28, 2015
Credit Cards
Capital One Venture Rewards Credit Card: 5 Reasons to Get It Now
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The Nerds spend a lot of time comparing travel credit cards, and we’re not shy about telling you which ones are our favorites. The Capital One® Venture® Rewards Credit Card is one of them, so if you still don’t have this card in your wallet, here are four reasons to get it now:

1. It has a huge signup bonus, which is great for summer travel

A sizable signup bonus shouldn’t be the only reason to get a travel credit card, but it’s certainly nice to feel welcomed. The Capital One® Venture® Rewards Credit Card doesn’t disappoint: Enjoy a one-time bonus of 50,000 miles once you spend $3,000 on purchases within 3 months from account opening, equal to $500 in travel.

This could come in really handy as you plan your summer travel. A $500 boost could easily offset the cost of a plane ticket or a few nights in a hotel if you plan your trip wisely.

2. Its rewards rate is high

The Capital One® Venture® Rewards Credit Card provides a good return on your everyday spending too. With it, you’ll earn 2 miles for every dollar you spend. Each mile is worth 1 cent when redeemed for travel, giving the card a whopping 2% rewards rate.

This is double the industry standard of 1%, proving that the Capital One® Venture® Rewards Credit Card provides excellent ongoing value. Plus, you’ll earn the same number of miles on every dollar you spend. There are no bonus categories to keep track of, which is why the Nerds give this card high marks for simplicity.

3. It offers flexible rewards redemption options

Earning big rewards is fun, but only if redeeming them is uncomplicated and trouble free. And the Capital One® Venture® Rewards Credit Card won’t let you down on this front. For travel, you’ll have three options to cash in your miles: You can use them to book a trip directly on Capital One’s site, which will allow you to redeem rewards in any amount. Or, you can use the Purchase Eraser tool to get a statement credit for a recent travel purchase. Also, you can transfer your miles to over 12 travel loyalty programs.

With Purchase Eraser, you’ll simply choose a travel expense you’ve put on the card in the past 90 days and use your miles to “erase” it from your statement. You can redeem your miles for a partial statement credit if you want to, but you’ll need at least 2,500 miles to do so.

This means you can book with nearly any travel website or agency you want to and still be able to use your rewards, making the Capital One® Venture® Rewards Credit Card one of the most flexible credit cards on the market.

4. Its fees are low

Cards that come with a high rewards rate often charge a hefty annual fee too. The Nerds aren’t categorically opposed to annual fees, but the less you have to shell out on your card each year, the better.

With the Capital One® Venture® Rewards Credit Card, you’ll pay $0 intro for the first year, then $95. This is in line with the annual fee on many travel credit cards.

Also, the Capital One® Venture® Rewards Credit Card carries no foreign transaction fees, so you won’t get dinged with an extra charge on overseas purchases. If you’re looking to keep costs down, this card is just the ticket.

Lindsay Konsko is a staff writer covering credit cards and consumer credit for NerdWallet. Follow her on Twitter @lkonsko and on Google+.

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