How to Earn Rewards With the Capital One VentureOne Rewards Credit Card
You’ll earn 1.25 miles per dollar spent on every purchase you make. New cardholders will earn a one-time bonus of 40,000 miles once you spend $1000 on purchases within 3 months from account opening. One mile is worth 1 cent.
While this rewards structure isn’t very complicated, it’s not as valuable as rewards programs offered by some other travel credit cards. That said, the card doesn’t have an annual fee, so you won’t have to worry about spending enough to make up for the yearly cost – as long as you’re not carrying a balance and paying interest.
The card’s sign-up bonus will accelerate your earnings during the first year. Just be sure to keep track of your spending during the first three months to ensure you meet the minimum spending requirement to receive the miles.
How to Redeem Rewards With the Capital One VentureOne Rewards Credit Card
Capital One VentureOne Rewards Credit Card holders can redeem their miles for travel in multiple ways. You can use miles to book a trip directly through the Capital One Rewards Center. However, you’re limited to the pricing offered through the portal, so comparing prices and getting the best deal may not be easy.
Alternatively, you can transfer your miles to one of the card issuer’s airline partners. Depending on the partner and how you redeem, you may be able to get more value than what you’d get with the other travel redemption options. Keep in mind, though, that your miles may not transfer at their full value and not all rewards are eligible for transfer. With most transfer partners, the ratio is 1:1 with the partner.
Transfer partners include:
- Aeromexico Club Premier
- Air France KLM Flying Blue
- Air Canada Aeroplan
- Asia Miles
- Avianca LifeMiles
- Emirates Skywards
- Etihad Airways Etihad Guest
- EVA Air Infinity MileageLands
- Finnair Plus
- Qantas Frequent Flyer
- Singapore Airlines KrisFlyer
- Virgin Red
You can also redeem rewards for cash back, gift cards and more. However, redemption values can vary for these options, and you might not get as much value as you would using your miles for travel.
What Is the Capital One VentureOne Rewards Credit Card’s APR?
New Capital One VentureOne Rewards Credit Card holders will get an introductory 0% APR promotion on purchases and balance transfers for 18 months. After that, the APR is 19.24% – 29.24% (Variable).
If you want to finance a large purchase or your next vacation, the card gives you a year to pay off your balance interest-free.
What Are the Annual Fees Associated With Capital One VentureOne Rewards Credit Card?
- Annual Fee: The Capital One VentureOne Rewards Credit Card doesn’t charge an annual fee, making it worth considering if you don’t spend a lot and don’t want to worry about fees eating into your rewards. Nearly 70% of credit cards don’t charge an annual fee, according to a 2019 U.S. News credit card fee study.
- Foreign Transaction Fee: The card also doesn’t charge a foreign transaction fee, counting it among the 39% of cards that don’t charge this fee.
- Balance Transfer Fee: The card’s balance transfer fee is 3% of the transfer amount if you receive a promotional offer, but there’s no fee if you transfer at the card’s regular APR.
- Late Fee: The late fee can be up to $40.
Should You Get the Capital One VentureOne Rewards Credit Card?
- Can accept limited bonus rewards and a low base rewards rate.
- Want to avoid an annual fee.
- Spend a lot on hotel bookings.
- Need an introductory 0% APR promotion.
Questions About the Capital One VentureOne Rewards Credit Card
Q: How Many Miles Do You Need for a Free Flight With the Capital One VentureOne Rewards Credit Card?
A: Capital One VentureOne Rewards Credit Card miles redeem at a rate of 1 cent per mile. You could get a free $400 flight by redeeming 40,000 Capital One VentureOne Rewards Credit Card miles.
Q: Can I Get Two Capital One Credit Cards?
A: Yes, you can apply for two or more Capital One credit cards.
Q: What Credit Score Do You Need to Get the Capital One VentureOne Rewards Credit Card?
A: This card requires good to excellent credit. You need a score of at least 670 to fall into the good credit range.
Q: Is the Capital One VentureOne Rewards Credit Card a Good Credit Card?
A: This card might be a good credit card for you if you are looking for a card that has a simple rewards program and doesn’t charge an annual fee or foreign transaction fees. However, travelers who are looking to maximize rewards, including collecting a larger sign-up bonus, might want to consider another card instead.