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Want a guaranteed $500 off your next vacation? The Capital One® Venture® Rewards Credit Card is a super easy way to make that happen!
You’ll earn 50,000 Capital One Venture miles (worth $500 in travel) after completing the minimum spending requirements on the card. You can use Venture miles for practically ANY travel purchase, like airfare, hotels, and rental cars. You can even use them for things that other miles & points don’t often cover, like Airbnb stays and Uber rides!
Or, you can transfer your miles to 14 airline partners where they’re potentially worth much more toward award travel. In most cases, you’ll get a 2:1.5 transfer ratio, so it’s like earning 1.5 airline miles per $1 spent!
Capital One Venture Review
The Capital One Venture card comes with 50,000 Venture miles after spending $3,000 on purchases within the first 3 months. Because each Venture mile is worth 1 cent each, this bonus is worth at least $500 in travel, and potentially more when you transfer to one of 14 airline partners!
In addition to the valuable welcome bonus, you’ll get:
- 2 Venture miles per $1 you spend on all purchases
- 10 Venture miles per $1 you spend on hotel stays booked and paid for with your card through this Hotels.com link (through January 31, 2020)
- Statement credit for Global Entry or TSA PreCheck
- NO foreign transaction fees
The card comes with a $95 annual fee, waived the first year.
Because you earn a flat 2 Venture miles per $1 spent, this card effectively earns 2% back toward travel. So you’re guaranteed to earn 2 cents towards travel for every $1 you spend. That’s not the case with lots of other cards!
Or, you can transfer your miles to most partners at a 2:1.5 ratio. So it’s like earning 1.5 airline miles per $1 spent.
For example, the Chase Sapphire Preferred earns 1 Chase Ultimate Rewards point per $1 on non-bonus spending. They’re worth 1.25 cents each when you book through the Chase Ultimate Rewards Travel Portal. And all of Chase’s partners have a 1:1 transfer ratio.
If you don’t like messing bonus categories, the Capital One Venture is up your alley.
How to Use Capital One Venture Miles
1. Erase Nearly Any Travel Purchase
Capital One Venture miles are worth 1 cent each. You can use your miles for nearly any travel purchase, like taxi rides, hotels, room service, and free flights. And you don’t even have to worry about searching for available award seats or hotel nights!
To redeem your miles for travel, just buy travel like you normally would with your card. Then, you have 90 days to sign into your online account, find the travel purchase, and “erase” it with your miles!
You also have the option to book travel with your miles instead of purchasing your travel and erasing it later. You’ll find this option after signing into your account. If you use the portal, there is no minimum miles requirement to book.
Whether you choose to redeem your points this way or by erasing your purchase later, you’ll still get a value of 1 cent per point.
2. Transfer to 14 Airline Partners
You have 14 airline transfer options with the Capital One Venture card:
- Air Canada (Aeroplan)
- Air France & KLM (Flying Blue)
- Cathay Pacific
- Hainan Airlines
- Qatar Airways
- Singapore Airlines
The transfer ratio is 2:1.5, so you’ll get 1.5 airline miles for every 2 Venture miles you transfer.
The exceptions are Emirates and Singapore Airlines, which have a 2:1 transfer ratio, so you’ll get 1 airline mile for every 2 Venture miles.
Because you earn 2X miles per $1 spent with the Capital One Venture card, it’s effectively like earning 1.5 airline miles per $1 if you transfer your miles (or 1 mile per $1 spent in the case of Emirates and Singapore Airlines).
Having this option gives you dozens of new ways to redeem Venture miles.
Some of these partners, like Air Canada, Flying Blue, Qantas, and Singapore Airlines, can make your Venture miles extra valuable!
Capital One Venture Benefits
The Capital One Venture has ongoing benefits that can be reason enough to keep the card year after year.
1. Global Entry or TSA PreCheck Credit
I love that this card reimburses you for Global Entry or TSA PreCheck. Global Entry is fantastic because it can save you lots of time by getting you quickly through US Customs and Immigration when you return to the US from abroad.
And once you’re approved for Global Entry, you’ll usually get access to the TSA PreCheck security line when traveling domestically. So you won’t have to take off your shoes or dump out your computer bag when you go through the security checkpoint!
2. 10 Venture Miles per $1 at Hotels.com
Because Venture miles are worth 1 cent each, you’ll effectively receive 10% back on all your hotel stays! Plus, you can combine this deal with the Hotels.com Rewards program. So you’ll still be able to earn every 10th night booked with Hotels.com free, in addition to the 10% you can earn with your Capital One Venture card!
3. Rental Car Insurance
The Capital One Venture offers secondary car insurance against collision or theft. Secondary coverage means your personal or business car insurance company pays first. You’ll have to pay your insurance deductible but this benefit could still save you lots!
4. Travel Accident Insurance
You can receive up to $250,000 insurance for accidental loss of life, limb, sight, speech or hearing during a trip you paid for with the Capital One Venture.
5. Lost Luggage Insurance
You’ll be compensated up to $3,000 per trip when your luggage is lost from theft or misdirection by the airline, cruise, etc.
Is the Capital One Venture Worth the Annual Fee?
I opened the Capital One Venture a couple years ago, and I had an absolute BLAST with the sign-up bonus. I used part of the bonus ordering extravagant room service in Dubai. And I used the rest to book a tree house in Barbados through Airbnb.
Whether it makes sense for you to keep the card year after year will vary from person to person. Because we all have different travel styles and spending habits.
For example, if you frequently use Hotels.com to book your hotel stays, this card could be a no-brainer for you. Because you’ll earn 10 Venture miles per $1 you spend on hotel stays booked and paid for with your card through this Hotels.com link.
Does the Capital One Venture Have a Foreign Transaction Fee?
Who Is Eligible for the Capital One Venture?
The Capital One Venture isn’t terribly difficult to qualify for. Just make sure your credit score is 700+, and you should have a good chance of being approved.
In general, we don’t recommend anyone apply for travel rewards cards unless your credit score is above 700. If it’s not, that’s totally fine! Just take some time to show it the love it needs to breach 700, and you’ll be traveling for free in no time.
Just note that Capital One will NOT process more than 1 application per 6 months. So, for example, if you’ve applied for the Capital One® Quicksilver® Cash Rewards Credit Card a couple months ago, you’ll need to wait a few more months to open the Capital One Venture.
Is the Capital One Venture Card Right for You?
We’ve written about smart ways to use Capital One Venture miles for Big Travel. And you can read about how Million Mile Secrets team members would use the Venture card sign-up bonus.
But if you’re new to miles & points, and plan to apply for lots of cards later, I would NOT recommend starting with the Capital One Venture card. Because there are other credit cards with better sign-up bonuses that earn more valuable points and have better travel benefits.
Note: When you apply for a Capital One card, they request your credit from ALL 3 credit bureaus (Experian, Equifax, and TransUnion). Which could temporarily make it a little more difficult to open other cards in the near future.
Credit Cards Similar to the Capital One Venture
Apply Here: Barclaycard Arrival Plus World Elite Mastercard
A card with similar benefits and reward earning structure is the Barclaycard Arrival Plus World Elite Mastercard. You’ll earn 2 Arrival miles per $1 you spend with your card. And because Arrival miles are worth 1 cent each, this card earns effectively 2% back towards travel, just like the Capital One Venture.
Plus, you’ll earn 70,000 Arrival Plus miles after spending $5,000 on purchases within the first 90 days of account opening. The annual fee is $89 (waived the first year). It also comes with:
- 2 Arrival Plus miles on all eligible purchases
- 5% miles rebate on all redemptions
- NO foreign transaction fees
However, to redeem your miles for travel purchases, each transaction will need to be at least $100 (or 10,000 Arrival miles). That means if you take a $40 Uber ride, you will NOT be able to redeem Arrival miles for the purchase.
The Capital One Venture doesn’t have this restriction. There is NO minimum redemption increment when redeeming miles. Unless you’re using miles to partially pay for a travel purchase, in which case the minimum amount is 2,500 Venture miles ($25).
The Capital One Venture offers 50,000 Venture miles (worth $500 in travel) after spending $3,000 on purchases within the first 3 months of account opening.
This is an excellent card for folks who want free travel without worrying about blackout dates. You can use your miles to book nearly ANY travel purchase. So if you find yourself staying at boutique hotels that don’t have a loyalty program, or if you prefer a flat earning rate without juggling bonus categories, this card is what you’ve been looking for.
Or you can transfer the miles you earn to 14 airline partners, most of which have a 2:1.5 transfer ratio. So it’s like earning 1.5 airline miles (in most cases) per $1 spent. Depending how you redeem them, you can potentially get much more value from your Venture miles.
The $95 annual fee is waived the first year and it has NO foreign transaction fees. So it’s an excellent card to use internationally.