Capital One VentureOne Review: Low-Cost Travel Card Falls Short
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3.8
Weigh the rewards against the offerings of other no-annual-fee travel cards before committing. You might even get more value from the regular Capital One Venture Rewards Credit Card, which charges a fee.
Pros
No annual fee
Intro APR period
Flexible rewards redemption
Cons
Rewards have limited flexibility
Requires good/excellent credit
on Capital One's website
Compare to Other Cards
Annual fee$0 | Annual fee$0 |
Intro APR0% intro APR for 15 months on purchases and balance transfers | Intro APR0% intro APR for 15 months on purchases and balance transfers |
Recommended Credit Score |
Recommended Credit Score |
Detailed review: Capital One VentureOne Rewards Credit Card
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; 3% fee on the amounts transferred within the first 15 months.
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.
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:
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 statement credit against the expense.
Transfer your miles to leading travel loyalty programs.
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.
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.
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.
on Capital One's website
