Capital One Launches New VentureOne Balance Transfer Card

Capital One’s newest balance transfer credit card is one of the rare cards of its kind that’s useful beyond the no-interest promotional window.

The Capital One VentureOne Rewards Credit Card - Balance Transfer shares, as you might expect, many of the same benefits as the issuer's similarly named entry-level travel card (the Capital One VentureOne Rewards Credit Card - Miles Boost). Both have a $0 annual fee, and both earn 1.25 miles per $1 spent on purchases, as well as 5 miles per $1 spent on hotels, vacation rentals and rental cars booked through Capital One Travel.

But the new Capital One VentureOne Rewards Credit Card - Balance Transfer also offers something that most major travel credit cards do not — an exceptional balance transfer offer. It has a 0% intro APR on Purchases for 6 months and 0% intro APR on Balance Transfers for 18 months, and then the ongoing APR of 18.74%-28.74% Variable APR. There's a balance transfer fee of 3% for the first 18 months; 4% at a promotional APR that Capital One may offer you at any other time.

That's among the best balance transfer periods on the market.

The card's welcome offer, though, is smaller compared to its Capital One sibling: Earn a bonus of 20,000 miles once you spend $500 on purchases within 3 months from account opening, equal to $200 in travel.

A word of caution on these benefits: Because they’re tied to spending, chasing after miles on the Capital One VentureOne Rewards Credit Card - Balance Transfer probably isn’t wise — at least until any debt that you’ve moved to the card has been paid off. The value of miles you might earn would easily be canceled out by interest accrued on outstanding balances.

But after your debt is wiped out, the card can certainly deliver ongoing value, especially for those who don’t want to pay an annual fee for a travel credit card.

How the VentureOne cards compare