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Credit Cards

Capital One Venture Card Review (2020)


By Sa El

Credit expert, licensed Insurance agent, Real Estate agent, and Co-Founder of Credit Knocks


Advertiser Disclaimer - Some links on this page may pay us advertising fees.

Learn why the Capital One® Venture® Rewards Credit Card is one of the best Travel Rewards Cards on the market. In this review we will also cover all the additional perks and benefits of the card.

capital one venture card

On Capital One® secure website

Capital One® Venture® Card

5.0

Annual Fee
$95

APR 
17.24 - 24.49% Variable

Credit Needed 
Good/Excellent
690 - 850

EFFECTIVENESS

One of the best cards for Travel

FEES

Only A Small Annual Fee

EASE OF USE

Apply in less than 5 minutes

SUPPORT

Responds pretty quickly

    Credit Knocks Overall Star Rating:     

  • Travel Rewards Program
  • Amazing Sign Up Bonus
  • High Reward Value
  • Flexible Redemption Of Rewards
  • No Foreign Transaction Fees
  • High Starting Limit
  • Card Has Annual Fee
  • Requires Good Credit
  • Low Cash Redemption

SUMMARY: 

The Capital One Venture Credit Card is a great example of a Travel Rewards card done right!

This card also has very flexible redemption options for their rewards; however, if you want to redeem points for cash,  you probably shouldn't use this card.  

I created this Capital One Venture Card review so that you can understand how their card works, its benefits and short comings.

On Capital One® secure website


What's The Capital One Venture Rewards Card?

The Capital One Venture Card was created by Capital One to be the simplest and best travel rewards card in the industry.

Every purchase allows you to make unlimited rewards and you can use your Venture miles rewards credit card to book things other than travel.

You are able to book any airline, anytime, anywhere with no seat restrictions or blackout dates.

Your travel rewards can also be redeemed for car rentals, hotels, ride sharing apps, cruises and more.

To top it all off, your miles don’t expire for the life of the account.

Capital one offers a wide variety of credit cards with multiple perks and rewards, you can read about the best Capital One credit cards in our review. 

capital one logo

Who Is Capital One?

While Capital One might seem like a 100 year old company, they actually were founded in 1993.  

They go by the name Capital One Financial Corporation and along with being a bank holding company they also focus on credit cards, auto loans and banking.

They are one of the largest banks in the U.S. by assets and helped with the growth of the credit card market.  

Lastly they are the 2nd largest auto finance company in America.

What Makes Them Different?

What makes Capital One Different is that they offer a ton of additional benefits with their cards.  

Along with reporting to all 3 of your credit bureaus, you will get free access to your credit report and score as well as a the ability to increase your credit limit without it hurting your score.

Not to mention you will receive 2X miles on all purchases with you Venture Capital One Card. 

Paying Your Annual Fee

After the first year of the card being activated, your annual fee will be deducted from your available credit.

You need to make sure you pay it immediately so that your card doesn't report a balance.

If you plan to let the small fee report, be sure to make the minimum payment if one is required. 

Capital One® Venture® Card Basics

Below are some of the basic features of the Capital One Venture Rewards Credit Card:

  • Card type: Travel
  • Interest rate: Ongoing APR is 17.24% - 24.49% Variable APR.
  • Annual fee: $0 intro for the first year, then $95.
  • Rewards: Earn 2X miles on every purchase, every day.
  • Security deposit: None
  • Foreign transaction fee: None
  • Credit reporting: Reports payment history to all three credit bureaus.
  • Cash advance fee: $10.00 or 3%, whichever is greater
  • Cash advance APR: 24.49% Variable
  • Late payment fee: Up to $39.00
  • Transfer Fee: 3% of the amount of each transferred balance

In my opinion, paying a small annual fee for the benefits and perks that come with this specific card is absolutely worth it.

On Capital One® secure website

Capital One Venture Card Sign Up Bonus

One of the best things about getting approved for a new credit is their sign up bonus. 

And the Capital One Venture card has one of the best sign up bonuses out there. 

You will get 50,000 Miles once you spend $3,000 on purchases within 3 months from opening an account

If redeemed directly for the cost of your travel the miles are worth about 1 cents each. 

That makes your signup bonus worth about $500.00; however, if you transfer the miles to a partner airline your bonus could decrease in value. 

Now, we don't believe in racking up debt to get rewards, but if you already have monthly bills that come out to $3,000 over 3 months then you probably should go all in.

Capital One Venture Card Review

How Their Travel Rewards Program Works

Earn 2x Miles On All Purchases

With the Venture card you will earn 2 miles per dollar for every purchase you make. 

You will be looking at a return of about 2% back or the equivalent of 1.5x airline miles.  

If you travel often this would make the Venture card the best option for everyday use.  And best of all, there is no annual limits to worry about.

10x Miles With Hotels.com

Yes, you read it correctly, 10X miles when you book with Hotels.com.  Capital One has partnered with them to reward their Venture cardholders.

When you book your stay at Hotels.com/Hotel-Deals/Capital-One-Venture/ and pay with your venture card, you'll earn 10 miles for every dollar that you spend through January 31, 202.  

You can also stack this bonus with the Hotels.com rewards program.

On Capital One® secure website

Super Easy Miles Redemption

The Venture Rewards card really shines with its rewards redemption process. 

All you have to do is log into your Venture Rewards account online and erase eligible purchases that you made in the last 90 days using your miles. 

Unlike cards that have a straight fixed value, there's no minimum redemption amount. 

To get even more value out of your miles, the below airlines allow you to transfer your miles at a 2:1.5 rate: 

  • Aeromexico Club Premier
  • Air Canada Aeroplan
  • Air France/KLM Flying Blue
  • Emirates Skywards (2:1)
  • EVA Infinity MileageLands
  • Hainan Fortune Wings Club
  • Qantas Frequent Flyer
  • Qatar Airways Privilege Club
  • Alitalia MilleMiglia
  • Avianca LifeMiles
  • Cathay Pacific Asia Miles
  • Etihad Guest
  • Finnair Plus
  • JetBlue TrueBlue (2:1)
  • Singapore KrisFlyer (2:1)

Venture Rewards is known for its flexibility and these new partners aren't going to replace the old redemption options. 

They are only going to make the Venture miles more valuable and flexible. 

capital one travel

Capital One® Venture®'s Additional Perks 

Special Access

Your Venture card gives you access to exclusive experiences in fine dining, sports and entertainment.

Things like Premium Access reservations for dining or being able to purchase tickets to your favorite concert weeks before they go on sale to the public.

You can also get things like VIP tickets or even special offers at the Capital One Arena.

Your Global Entry / TSA PreCheck Credit

Your Capital One Venture Rewards card is going to give you up to $100 credit for either Global Entry or TSA PreCheck, when you pay for the application fee with your Venture card.

24 Hour Travel Assistance

If your card is lost or stolen, you can get an emergency replacement card and a cash advance with no problem.

Auto Rental Collision Coverage

If you rent an eligible vehicle with your Venture card, you are covered for any damage due to collision or theft.

Travel Accident Insurance

You get automatic insurance for a covered loss when you use your Venture card to purchase your travel fare.

An Extended Warranty

When you purchase something with your Venture card through Capital One, you get additional warranty protection at no charge on eligible items purchased.

Your Own Assistant... Eno®

Eno is an assistant that will send you insights and alerts about your credit card accounts.  It will monitor charges, track spending, and provide answers to fraud alerts on the spot.

Virtual Card Numbers For The Win

So, if you have any reservations about shopping online, your concerns can end when you get your Venture Card. 

This is because you can shop online with a virtual card number that is entirely different from your actual card number... Isn't that amazing.

CreditWise® from Capital One

One benefit that everyone should be using is the access to CreditWise from capital one.  This program allows you to check and monitor your credit report for free.

While you don't need a Capital One card to actually join the program; it's another great benefit, especially if you are credit conscious.

The Capital One® Venture®  Credit Card offers you the opportunity to travel on just rewards points.

What's The Starting Credit Limit 

Your initial Capital One Venture credit limit will be determined by a number of factors including your credit history and income.

However, these card limits often start pretty high. 

As a matter of fact, when I applied for my Capital One Venture Card I was given a credit limit of $30,000 with a credit score of 760. 

Obviously, you may be given a similar or smaller credit limit, but from reading Capital One Venture reviews, it sounds like most people start out with a high limit. 

Capital One Venture Credit Limit Increase

A great thing about all Capital One credit cards is that you are able to do a credit limit increase request without receiving a "hard" credit pull. 

I haven't heard much about Capital one giving you an automatic increase; however, if you wait for at least 6 months you can call in or request an increase online.

The reason you should always consider a credit limit increase is because it will: 

  • Decrease Your Credit Utilization
  • Increase Your Available Credit
  • Allows You To Obtain New Credit Without Affecting Your Age Of Accounts

On Capital One® secure website

Capital One Venture Card Pros & Cons

PROS

CONS

Great Sign Up Bonus

High Starting Limit

Travel Rewards Program

High Reward Value

No Foreign Transaction Fees

Has An Annual Fee

Requires Good Credit

Hard Credit Pull To Apply

Low Cash Redemption

Steps To Take After You're Approved

Meet Your Sign Up Bonus

Now that you have the card, you are going to get 3 months to meet your sign up bonus.

You can use companies like Plastiq to pay for almost any item that usually doesn't accept credit cards. 

The goal is to reach your $3,000 spending goal by paying for things you already planned on buying.

Like rent, car payments or utilities.  You don't want to create new debt for the sign up bonus.

Helpful Tip

If your application goes to "Pending" status it doesn't mean Declined. Usually, more information may be needed.

Make On Time Payments

Making on time payments sounds like a super simple thing to do; however, we all live in the real world where things almost never go as planned.

Be sure, no matter what, to make your payments on time because it is super important and is one of the largest factors in your credit score.

No matter what, avoid late payments.

Keep Credit Utilization Low

Another factor to consider is credit utilization, you really want to keep this under 3% of total credit if you can but try to never get it over 15%.

For example, if your Venture card has a $23,000 limit and you spend $6,000.

Spending $6,000 on a $23,000 card limit means you are utilizing is around 26% of your credit.

26% is above the recommend credit utilization percentage of 15%, so be mindful of how much you spend.

On Capital One® secure website

How Do I Cancel My Venture Credit Card?

You can cancel your account at any time by contacting their Customer Service Department at the phone number listed on your billing statement or on the back of your credit card.

capital one quicksilver cash back reward options

Is There A Fee For Closing My Account?

Outside of the fees associated with your remaining balance, there is no fee for closing your account.

I would recommend keeping the card active as long as you can, there really isn't a reason to cancel the card any time soon.

Taking Action On Your Credit

Hopefully, you found this Capital One Venture Card Review helpful because having a strong travel card in your arsenal is essential. 

There is no better time than now to get things started and the sooner you get your card setup, the faster you can start qualifying for travel rewards and points.

Having the card in your wallet is going to feel great and getting that sign up bonus is going to feel even better. 

Start building your travel wealth today with a Capital One® Venture® Rewards Credit Card.

On Capital One® secure website

Editorial Note: The editorial content on this page is not provided or commissioned by any financial institution. Any opinions, analyses, reviews, statements or recommendations expressed in this article are those of the author’s alone, and may not have been reviewed, approved or otherwise endorsed by any of these entities prior to publication.

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