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Capital One Venture: 3 Reasons You Should Still Consider It

Credit Cards
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Capital One Venture

Let’s face it: When new and exciting credit cards reach the market, it’s easy to overlook the ones that have been kicking around for a while. For example, when the Barclaycard Arrival Plus™ World Elite MasterCard® and the Citi® Double Cash Card – 18 month BT offer hit the scene, many folks forgot about the Capital One® Venture® Rewards Credit Card.

The Nerds think the Capital One® Venture® Rewards Credit Card still has a lot to offer. Here are three reasons you should consider it:

1. Its annual fee is (comparatively) low.

Usually, credit cards that come with a high rewards rate and a high signup bonus also come with a hefty annual fee. The Capital One® Venture® Rewards Credit Card certainly delivers on two of those fronts; with it, you’ll earn 2 miles for every dollar you spend. Since each mile is worth $.01 when redeemed for travel, you’re effectively earning a rewards rate of 2%.

Plus, you’ll get a solid signup bonus: Enjoy a one-time bonus of 40,000 miles once you spend $3,000 on purchases within 3 months from account opening, equal to $400 in travel.

But the Capital One® Venture® Rewards Credit Card doesn’t come with a high annual fee. You’ll pay $0 for the first year, then $59.

For context, let’s compare this to the annual fee of the Barclaycard Arrival Plus™ World Elite MasterCard®, one of the Capital One® Venture® Rewards Credit Card’s top competitors. With the Barclaycard Arrival Plus™ World Elite MasterCard®, you’ll pay $0 for the first year, then $89. The Barclaycard Arrival Plus™ World Elite MasterCard® offers a slightly higher rewards rate and signup bonus, but probably not enough to turn your head if you’re really trying to minimize costs.

In short, the Capital One® Venture® Rewards Credit Card is still a bargain when it comes to annual fees.

2. It’s great for overseas travel.

If you’ve done your research about rewards credit cards, you’ve probably seen the Capital One® Venture® Rewards Credit Card evaluated against the Citi® Double Cash Card – 18 month BT offer in more than one article. There’s a good reason for this: With the Citi® Double Cash Card – 18 month BT offer, you’ll earn 1% cash back when you make your purchases, then an additional 1% cash back when you pay them off. Since the two cards have very similar rewards rates, they’re a natural pair to compare.

Even though the Citi® Double Cash Card – 18 month BT offer charges an annual fee of $0 – which means it often comes out on top in head-to-head matchups with the Capital One® Venture® Rewards Credit Card – it’s important to think about how and where you’ll be using your card. Simply put, if overseas travel is a big part of your life, the Capital One® Venture® Rewards Credit Card is a much better choice.

The Citi® Double Cash Card – 18 month BT offer charges a foreign transaction fee of 3%, while the Capital One® Venture® Rewards Credit Card charges no foreign transaction fees. That will save you big bucks when you use the Capital One® Venture® Rewards Credit Card abroad.

Compared with the Citi® Double Cash Card – 18 month BT offer, the Capital One® Venture® Rewards Credit Card is the clear winner for international globetrotters.

3. You’ll avoid the hassle of frequent flyer programs.

Credit cards that earn the frequent flyer miles of a particular airline can be a good fit for some folks. But redeeming those miles is notoriously challenging – you have to be pretty skilled at hacking award charts to get a good deal, and using your miles at peak travel times is almost impossible.

None of these hassles will be your hassles if you choose the Capital One® Venture® Rewards Credit Card. With it, you’ll simply book your flight or hotel room with your card as you normally would, then redeem your rewards in the form of a statement credit for those purchases. You won’t have to invest any time in learning about a complicated loyalty program just to use your miles. Plus, you’ll have the flexibility to redeem however and whenever you want to.

If easy earning and redeeming are your top priorities in a travel credit card, the Capital One® Venture® Rewards Credit Card fits the bill. Consider applying for it today.

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

Image via iStock.