Is The Capital One VentureOne Card Worth It?
The Capital One VentureOne Rewards Credit Card is often considered an introductory-level travel credit card. It does not impose an annual fee and offers an unlimited 1.25X miles on every purchase, providing a straightforward method to earn and redeem travel rewards without any upfront costs.
But are the benefits of the Capital One VentureOne Card worthwhile? How does it compare to travel credit cards that require an annual fee, and are the additional travel perks worth the expense?
Let’s explore which types of cardholders may find the Capital One VentureOne Card valuable and which ones might want to pass, as well as how it fares against other leading travel credit cards.
When is the VentureOne Card worth it?
As a travel card without an annual fee, the Capital One VentureOne can cater to a wide range of cardholders. It’s particularly suitable for those looking to explore credit card travel rewards cautiously, without the commitment of an annual fee potentially outweighing the benefits. Here are a few more scenarios where this card proves its worth:
You want to earn unlimited rewards
For those who prefer to avoid tracking bonus categories, the Capital One VentureOne Rewards Card provides a straightforward 1.25X miles per dollar on all everyday purchases. Additionally, you can earn 5X miles on hotels and rental cars booked through the Capital One Travel portal, although it’s the consistent everyday rewards rate that simplifies things. There are no spending limits with this card, allowing you to accumulate rewards without constraints.
Beyond its flat-rate rewards structure across groceries, gas, or plane tickets, the Capital One miles rewards program offers versatile redemption options. You can convert your miles into statement credits for travel expenses, transfer them to a variety of hotel and travel partners, or use them for purchases on platforms like PayPal or Amazon.com.
For optimal value, transferring your miles to Capital One’s travel partners typically yields the highest redemption rates. While navigating the transfer process may require some effort, it’s worthwhile for cardholders aiming to maximize their reward redemptions.
You don’t want to overspend for your welcome offer
Smart cardholders understand that leveraging a credit card’s welcome offer is one of the most effective ways to earn rewards. The VentureOne Rewards Card entices new cardholders with 20,000 bonus miles after spending $500 within the first three months of account opening. These bonus miles can be redeemed for travel through Capital One Travel or as a statement credit towards a travel purchase on the card, translating to a $200 value.
You frequently shop online
If you love hunting for deals and using discount codes online, you can streamline your shopping experience with Capital One Shopping. By downloading the Capital One Shopping app or adding its browser extension, Capital One will automatically search for coupons, provide price comparisons, and notify you of price drops.
Moreover, VentureOne Rewards cardholders can earn Capital One Shopping Credits on eligible purchases by linking their card to the Capital One Shopping app and using it for checkout.
You could use an intro APR offer
Introductory APR offers are rare among travel rewards cards, but the VentureOne card stands out with a generous one. New cardholders can benefit from a 0% intro APR for 15 months on both purchases and balance transfers (a 3% balance transfer fee applies for the first 15 months; 4% for any other promotional APR that Capital One may offer later). After the introductory period, a variable APR of 19.99% to 29.99% applies.
While introductory APRs are more common with cash back credit cards, they are a rarity in the realm of travel rewards cards, making this feature particularly noteworthy for the VentureOne card.
It’s important to note that transferred balances do not earn rewards and do not count toward earning the welcome bonus. However, you will earn rewards and make progress toward your welcome bonus with new purchases. If you’re looking to enter the travel rewards arena but need extra time to pay off existing debt or a significant new purchase, the VentureOne card could be a suitable choice.
You’re still learning about credit
Whether you’re aiming to boost your credit score or simply monitor it closely, consider signing up for CreditWise from Capital One. CreditWise is invaluable for those striving to elevate their credit standing, providing real-time updates as your credit profile improves.
This free credit monitoring app stands out as a preferred choice for monitoring services. It not only tracks fluctuations in your credit score but also keeps a vigilant watch over your personal and financial data, alerting you to potential security threats. For instance, it promptly notifies you if your email address appears on the dark web and offers guidance on securing your accounts.
Remember, to enhance your chances of approval for the VentureOne card, it’s advisable to have a good credit score, typically defined as a FICO score of at least 670. If your current score falls short, there are credit cards tailored for individuals with fair credit scores. Responsible use of such cards can gradually improve your credit profile, paving the way for eligibility for higher-tier credit cards over time.
When is the VentureOne Card not worth it?
While the VentureOne Card appeals to many consumers, it may not be the best fit for high spenders and frequent travelers seeking extensive travel perks. It’s not that the card lacks value; rather, there are more suitable alternatives available. Let’s delve deeper into situations where the VentureOne Card may not be the ideal choice.
You spend enough to offset an annual fee
The VentureOne Card’s main limitation lies in its lower flat-rate rewards. Instead, consider the Capital One Venture Rewards Credit Card, a sister card with a $95 annual fee that offers substantial value.
With the Venture Rewards Card, you earn unlimited 2X miles on all purchases and 5X miles on hotels and rental cars booked through Capital One Travel, making it more rewarding than VentureOne. Although the Venture Card requires a higher initial spend ($4,000 in three months) to earn a welcome bonus of 75,000 miles, this bonus alone can cover your annual fee for about seven years, not to mention the ongoing rewards potential.
While VentureOne remains a robust no-annual-fee option, it’s worth calculating whether the Venture Card’s $95 annual fee ultimately provides greater benefits.
You’d like Global Entry or TSA PreCheck credit
VentureOne offers nearly identical travel benefits as the Venture Rewards Card, earning 5X miles on hotel and rental car bookings through Capital One Travel and charging no foreign transaction fees. However, frequent flyers seeking expedited security screenings for domestic flights or U.S. customs clearance should opt for Global Entry or TSA PreCheck. While VentureOne does not cover the application fee, Venture and many other premium travel cards do. With Venture, you can receive up to a $100 statement credit every four years to cover your Global Entry or TSA PreCheck fee, further offsetting the annual fee.
Should you get the VentureOne Card?
Is the Capital One VentureOne Rewards Card worth considering? It depends on your priorities. If you’re seeking a straightforward, no-annual-fee card that earns miles on all purchases and allows flexible redemption options—from travel bookings to purchases on Amazon.com—the VentureOne Rewards Card is a solid choice.
However, for those prioritizing robust travel benefits, the VentureOne Card may fall short. It lacks perks like TSA PreCheck or Global Entry application credits and airport lounge access, which are hallmarks of top-tier travel credit cards. While VentureOne offers flexibility in earning and redeeming Capital One miles, it may not significantly enhance your overall travel experience.
For more comprehensive travel perks, consider upgrading to the Capital One Venture Rewards Card. Despite a $95 annual fee, it offers 2 miles per dollar on all purchases and provides an automatic statement credit for TSA PreCheck or Global Entry application fees.
Another option is the Chase Sapphire Preferred® Card, which offers substantial travel benefits, including a generous welcome bonus of 60,000 points worth $750 toward travel when redeemed through Chase Travel℠. Like the Venture Card, Sapphire Preferred charges a $95 annual fee.
If you prefer to avoid an annual fee altogether and prioritize simplicity in earning rewards, the VentureOne remains a practical choice.
In Conclusion
The Capital One VentureOne Rewards Credit Card stands out with its no annual fee and basic travel benefits, allowing cardholders to earn and redeem Capital One miles. It’s an excellent option for those seeking an entry-level travel card or a cost-effective choice. However, if you’re looking for enhanced travel perks, you might find the VentureOne’s benefits lacking. It’s important to evaluate your specific needs and spending patterns carefully. Be sure to review the complete Capital One VentureOne Card details before making a decision between VentureOne or opting for a more premium travel card.