BEST CREDIT CARDSBEST CREDIT CARDSCAPITAL ONE VENTUREONE REVIEW: LOW-COST TRAVEL CARD FALLS SHORT

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

You get 1.25 miles per dollar on all purchases, a lower rewards rate than several other no-fee cards.
Sara Rathner Author Avatar
May 7, 2024 8:14 a.m. PDT
Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money.

The Bottom Line

3.8

NerdWallet rating

Weigh the rewards against the offerings of other no-annual-fee travel cards before committing. You might even get more value from the regular , which charges a fee.

Capital One VentureOne Rewards Credit Card
Annual Fee
$0
Rewards Rate
1.25x-5x
Miles
Intro Offer
20,000
Miles
Recommended credit score
Intro APR
0% intro APR for 15 months on purchases and balance transfers; balance transfer fee applies
Regular APR
19.99%-29.99% Variable APR
Recommended credit score
Annual Fee
$0
Rewards Rate
1.25x-5x
Miles
Intro Offer
20,000
Miles
Recommended credit score
Intro APR
0% intro APR for 15 months on purchases and balance transfers; balance transfer fee applies
Regular APR
19.99%-29.99% Variable APR
Recommended credit score
  • Annual fee

    $0

  • Rewards rate

    1.25x-5x

  • Bonus offer

    Earn a bonus of 20,000 miles once you spend $500 on purchases within 3 months from account opening, equal to $200 in travel.

  • Intro APR

    0% intro APR for 15 months on purchases and balance transfers; balance transfer fee applies

  • Ongoing APR

    APR: 19.99%-29.99% Variable APR

    Cash Advance APR: 29.99%, Variable

  • Balance transfer fee

    Balance transfer fee applies

  • Foreign transaction fee

    None

View Rates and Fees
  • $0 annual fee and no foreign transaction fees
  • Earn a bonus of 20,000 miles once you spend $500 on purchases within 3 months from account opening, equal to $200 in travel
  • Earn unlimited 1.25X miles on every purchase, every day
  • Miles won't expire for the life of the account and there's no limit to how many you can earn
  • Earn 5X miles on hotels and rental cars booked through Capital One Travel, where you'll get Capital One's best prices on thousands of trip options
  • Use your miles to get reimbursed for any travel purchase—or redeem by booking a trip through Capital One Travel
  • Transfer your miles to your choice of 15+ travel loyalty programs
  • Enjoy 0% intro APR on purchases and balance transfers for 15 months; 19.99% - 29.99% variable APR after that; balance transfer fee applies

Pros and Cons

Pros

No annual fee

Intro APR period

Flexible rewards redemption

Cons

Rewards have limited flexibility

Requires good/excellent credit

Detailed Review

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 — the $0-annual-fee version of Capital One's popular travel card — you can earn rewards without worrying about a fee eating into their value (see rates and fees).

But 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.

Capital One VentureOne Rewards Credit Card: Basics

Card type: Travel.

Annual fee: $0.

Sign-up bonus: Earn a bonus of 20,000 miles once you spend $500 on purchases within 3 months from account opening, equal to $200 in travel.

Rewards: Unlimited 1.25 miles per dollar spent on all purchases, plus 5 miles per dollar spent on hotels and car rentals booked through Capital One Travel.

Interest rate: Enjoy 0% intro APR on purchases and balance transfers for 15 months; 19.99% - 29.99% variable APR after that; balance transfer fee applies.

Foreign transaction fees: None.

Credit score requirement: The Capital One VentureOne Rewards Credit Card is available to applicants with good to excellent credit. However, some applicants with less-than-excellent credit may be offered a different version of this card, one that has the same cash back rewards but not the sign-up bonus or intro APR period. If this is the case, you'll be told during the application process and given the chance to accept or decline.

Compare to Other Cards

ANNUAL FEE
$0
INTRO APR
0% intro APR for 15 months on purchases and balance transfers; balance transfer fee applies
REGULAR APR
19.99%-29.99% Variable APR
RECOMMENDED CREDIT SCORE
ANNUAL FEE
$0
INTRO APR
0% intro APR for 15 months on purchases and balance transfers
REGULAR APR
17.24%-28.24% Variable APR
RECOMMENDED CREDIT SCORE
ANNUAL FEE
$95
INTRO APR
N/A
REGULAR APR
21.49%-28.49% Variable APR
RECOMMENDED CREDIT SCORE
Get more smart money moves — straight to your inboxBecome a NerdWallet member, and we'll send you tailored articles we think you'll love.

Benefits and Perks

Savings on fees and interest

If you’re not a frequent flyer and you pay with credit only occasionally, the $0 annual fee is a strong selling point. You'll earn rewards while paying nothing to carry the card, assuming you pay your balance in full each month to avoid interest. The Capital One VentureOne Rewards Credit Card also travels well internationally; it charges no foreign transaction fees, and it's a Mastercard (and therefore widely accepted). And should you need some time to pay off a large purchase, the card offers an introductory 0% APR period for purchases, a relatively rare feature on a travel credit card.

Redemption flexibility

The redemption process on the Capital One VentureOne Rewards Credit Card is as flexible as it gets for travel cards. Miles are worth 1 cent apiece when redeemed for travel. You can redeem three ways:

Airlines

  • Aeromexico (1:1 ratio).

  • Air Canada (1:1 ratio).

  • Air France-KLM (1:1 ratio).

  • Avianca (1:1 ratio).

  • British Airways (1:1 ratio).

  • Cathay Pacific (1:1 ratio).

  • Emirates (1:1 ratio).

  • Etihad (1:1 ratio).

  • EVA (2:1.5 ratio).

  • Finnair (1:1 ratio).

  • Qantas (1:1 ratio).

  • Singapore Airlines (1:1 ratio).

  • TAP Air Portugal (1:1 ratio).

  • Turkish Airlines (1:1 ratio).

Hotels

  • Accor (2:1 ratio).

  • Choice Privileges Hotels (1:1 ratio).

  • Wyndham Rewards (1:1 ratio).

Drawbacks and Considerations

Low rewards rate

This card's 1.25% base rewards rate is underwhelming when you consider that you can find no-fee rewards cards with 1.5% back or more. Compare it with these options:

  • The Wells Fargo Autograph℠ Card has a $0 annual fee and earns 3 points per dollar on restaurants, travel and transit, gas and EV stations, popular streaming services, and select phone plans. All other purchases earn 1 point. Points are worth 1 cent each.

  • The $0-annual-fee Bank of America® Travel Rewards credit card earns 1.5 points per dollar on all spending, with points worth 1 cent apiece when redeemed toward travel.

  • The Discover it® Miles also has a $0 annual fee and earns 1.5 miles per dollar spent on everything. Miles are worth 1 cent apiece whether redeemed for travel or cash back.

Not ideal for bigger spenders

If you plan to put more than $12,750 a year on your card — about $1,060 a month — you'd get more value from the regular Capital One Venture Rewards Credit Card, even taking into account that card's annual fee of $95 (see rates and fees). That's because it gives you 2 miles per dollar spent on most purchases. Plus, this card has a much bigger sign-up bonus: Enjoy a one-time bonus of 75,000 miles once you spend $4,000 on purchases within 3 months from account opening, equal to $750 in travel. You'll also get an application fee credit for Global Entry or TSA Precheck. Use our calculator to compare your estimated rewards with each card:

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 typically get less value. Such is the case with the Capital One VentureOne Rewards Credit Card, where miles are worth 1 cent apiece when you redeem them for travel, but about half that when you use them to get cash back. Consider the Citi Double Cash® Card instead. It pays you 2% cash back on every purchase: 1% when you buy something and 1% when you pay it off. The annual fee is $0.

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

How To Decide If It's Right For You

If you’re looking for a low-cost travel card, the Capital One VentureOne Rewards Credit Card is a decent choice. But overall, 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.

Alternate Pick: cash back rewards
Nothing's more flexible than cash

For higher rewards, consider this card, which gives you 2% cash back on every purchase (1% when you buy something + 1% when you pay it off). You can use your cash back for travel — or for anything else. The annual fee is $0.


Methodology

NerdWallet reviews credit cards with an eye toward both the quantitative and qualitative features of a card. Quantitative features are those that boil down to dollars and cents, such as fees, interest rates, rewards (including earning rates and redemption values) and the cash value of benefits and perks. Qualitative factors are those that affect how easy or difficult it is for a typical cardholder to get good value from the card. They include such things as the ease of application, simplicity of the rewards structure, the likelihood of using certain features, and whether a card is well-suited to everyday use or is best reserved for specific purchases. Our star ratings serve as a general gauge of how each card compares with others in its class, but star ratings are intended to be just one consideration when a consumer is choosing a credit card. Learn how NerdWallet rates credit cards.

About the author

NerdWallet Pixel