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Capital One VentureOne Review: Low-Cost Travel Card Falls Short

It's a decent choice if you book via Hotels.com, but several other no-annual-fee cards offer more upfront and ongoing value.
Oct. 16, 2018
Credit Cards, Rewards Credit Cards, Travel Credit Cards
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We adhere to strict standards of editorial integrity. Some of the products we feature are from our partners. Here’s how we make money.

If you’re not a heavy spender, the annual fee for a top travel credit card could cost you more than the rewards you’d earn. With the Capital One® VentureOne® Rewards Credit Card, you can earn travel rewards without worrying about an annual fee.

And if you’re a heavy Hotels.com user, you might find this card enticing thanks to a partnership with that site.

Still, several no-annual-fee travel cards can offer you higher ongoing rewards, not to mention more lucrative sign-up bonuses to get you on your way. You’re better off exploring your options first.

» MORE: Best travel credit cards with no annual fee

Capital One® VentureOne® Rewards Credit Card

Capital One® VentureOne® Rewards Credit Card

Apply Now on Capital One's secure site
  • Recommended Credit Score
  • 690
    850
    Good - Excellent
  • Card Details
  • Pros

    • No annual fee
    • Intro APR period on Purchases
    • Flexible rewards redemption
    • No foreign transaction fees

    Cons

    • Other no-annual-fee cards offer a better flat rewards rate
    • Reward value reduced if you want cash back

    Annual Fees

    $0

    APR

    • APR: 13.74% - 23.74% Variable APR
    • Cash Advance APR: 23.74%, Variable

    Bonus Offers

    Enjoy a one-time bonus of 20,000 miles once you spend $1,000 on purchases within 3 months from account opening, equal to $200 in travel

    Intro APR

    • 0% on Purchases for 12 months
  • Additional Information
    • Enjoy a one-time bonus of 20,000 miles once you spend $1,000 on purchases within 3 months from account opening, equal to $200 in travel
    • Earn 1.25X miles on every purchase, every day and pay no annual fee. Plus earn 10X miles on thousands of hotels; learn more at hotels.com/venture
    • Fly any airline, stay at any hotel, anytime
    • Enjoy a low intro APR on purchases for 12 months; 13.74%-23.74% variable APR after that
    • Travel when you want with no blackout dates
    • No foreign transaction fees
    • Miles won't expire for the life of the account and there's no limit to how many you can earn

Key features of the Capital One® VentureOne® Rewards Credit Card

Annual fee: $0.

Sign-up bonus: Enjoy a one-time bonus of 20,000 miles once you spend $1,000 on purchases within 3 months from account opening, equal to $200 in travel.

Ongoing rewards: Unlimited 1.25 miles per dollar spent on all purchases.

Intro APR: 0% on Purchases for 12 months, and then the ongoing APR of 13.74% - 23.74% Variable APR.

Balance transfer fee: 3% at the promotional APR.

Foreign transaction fee: None.

Other benefits:

  • Earn 10 miles per dollar spent on bookings through hotels.com/venture when you pay with the Capital One® VentureOne® Rewards Credit Card.
  • Travel accidental insurance for no extra charge when you use the Capital One® VentureOne® Rewards Credit Card to pay for your travel bookings. Terms apply.
  • Rental car insurance coverage.
  • Extended warranty on eligible items.

» MORE: Is it worth paying an annual fee for a credit card?

Benefits of the Capital One® VentureOne® Rewards Credit Card

Avoid fees, plus get a 0% intro APR period: If you’re not a frequent flyer and you pay with credit only occasionally, the Capital One® VentureOne® Rewards Credit Card’s $0 annual fee is nice to have. You’ll earn rewards while paying nothing to carry the card, assuming you pay your bill in full and on time each month to avoid interest. The Capital One® VentureOne® Rewards Credit Card card also travels well internationally; it charges no foreign transaction fees, and it’s a Visa (and therefore widely accepted). And should you need some time to pay off a large purchase, the card offers an intro 0% on Purchases for 12 months, and then the ongoing APR of 13.74% - 23.74% Variable APR.

Redemption flexibility: The Capital One® VentureOne® Rewards Credit Card’s redemption process is as flexible as it gets for travel cards. Miles are worth 1 cent apiece when redeemed for travel. You can redeem two ways:

  • Use your miles to book travel through Capital One’s travel platform.
  • Use your card to pay for travel, and then redeem your miles for a statement credit using the Purchase Eraser feature.

Hotels.com promotion: If you have the Capital One® VentureOne® Rewards Credit Card or its big brother, the Capital One® Venture® Rewards Credit Card, you’ll earn 10 miles per dollar spent when you use those cards to book through hotels.com/venture. That’s an outstanding return if you’re willing to do your hotel-room shopping at one specific site.

» MORE: Capital One credit cards mobile app review

Drawbacks to consider

Lackluster rewards, upfront and ongoing: Earning 1.25 miles per dollar spent on all purchases is underwhelming, especially when you consider that the going flat rate these days on most no-annual-fee rewards cards is at least 1.5% back. Consider, for example, the $0-annual-fee Bank of America® Travel Rewards credit card, which earns 1.5 points on every dollar you spend. Also consider that card’s richer sign-up bonus: 25,000 online bonus points if you make at least $1,000 in purchases in the first 90 days of account opening - that can be a $250 statement credit toward travel purchases. If you’re willing to keep track of bonus categories, you could also take a look at the Wells Fargo Propel American Express® Card. Its annual fee is also $0, and it earns a whopping 3 points per dollar spent on categories like restaurants, gas, rideshares, travel and popular streaming services. And its welcome offer is much more generous, if you can meet the spending threshold: Earn 30K bonus points when you spend $3,000 in purchases in the first 3 months – that’s a $300 cash redemption value.

Not ideal for frequent travelers or big spenders: If you travel several times a year, you may get more value out of the Capital One® Venture® Rewards Credit Card instead, despite its annual fee of $0 for the first year, then $95. That’s because this card offers a higher ongoing rewards rate — 2 miles per dollar spent — meaning you’d cover the cost of the annual fee (after the first year) by spending $4,750 over 12 months. Plus, this card has a much bigger sign-up bonus: 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. You’ll also get a $100 application fee credit for Global Entry or TSA Precheck.

A cash-back card gives more flexibility: When it comes to travel credit cards, redemption is understandably geared toward travel. If you want to use your rewards for anything else, you generally get less value. Such is the case with the Capital One® VentureOne® Rewards Credit Card, where points are worth 1 cent apiece when you spend them on travel, but about half that when you use them to get cash back. You could instead consider the Citi® Double Cash Card – 18 month BT offer. With that card, you can do anything you want with your cash-back rewards. Plus, the card offers a higher rewards rate, giving you 2% cash back on every purchase: 1% when you buy and 1% when you pay it off. The card has an annual fee of $0.

Visit NerdWallet’s best credit cards roundup for more potential alternatives.

Should you get the Capital One® VentureOne® Rewards Credit Card?

If you’re looking for a low-cost travel card, the Capital One® VentureOne® Rewards Credit Card is a decent choice, especially if you’re a Hotels.com user. But overall, many other no-annual-fee cards can offer more upfront and ongoing value.

And if you’re OK with paying an annual fee in exchange for greater benefits and perks, check out our best travel credit cards page for even more options.