Capital One Venture Card
Bonus Offer: 60,000 bonus Miles when you spend $3,000 within your first 3 months
Bonus Offer: 60,000 bonus Miles when you spend $3,000 within your first 3 months
★ This card earns bonus points for spend in the following bonus categories:
Card Features and Benefits:
- Extended Warranty Protection: Get double the time period of the original manufacturer’s written U.S. repair warranty up to one (1) full year on warranties of three (3) years or less when you purchase an eligible item entirely with your Capital One Venture Card.
- Purchase Protection: Replaces, repairs, or reimburses you for eligible items of personal property up to $500 per claim for ninety (90) days from the date of purchase due to covered reasons.
- Travel Accident Insurance: Receive coverage for common carrier accidental death or dismemberment, at no extra cost, when you charge your entire travel fare to Capital One Venture Rewards credit card.
- Lost Luggage Reimbursement: Your checked or carry-on luggage is covered up to $3,000 if lost or stolen when you charge your entire common carrier ticket to your Capital One Venture Rewards card.
- Roadside Assistance: Get towing and locksmith referral services in the United States and Canada, available 24 hours a day, 7 days a week.
- Secondary Car Rental Coverage: Use your Capital One Venture card to pay for your rental and it will provide you with secondary coverage due to theft or collision.
- No Foreign Transaction Fees: The Capital One Venture Rewards card does not charge a foreign transaction fee.
- Capital One Airport Lounges: Details are scarce on this benefit, but Capital One will be rolling out airport lounges this year (Dallas) and next (Washington Dulles). Pricing and availability are not known yet (at least by us).
- See the Best Travel Credit Cards
The Capital One Venture Card is an excellent credit card for frequent travelers trying to keep things simple. With a great sign-up bonus, 2X miles on all purchases and the ability to convert points to one of 19 travel partners, the Capital One Venture card is a great choice for people who want rewards flexibility.
Why is the Capital One Venture Rewards Credit Card so Strong?
The Capital One Venture card is one of the most flexible in the industry, particularly if you are a frequent traveler. It earns double miles on every purchase with no bonus categories to remember. You can redeem these points for previous travel purchases (worth a penny a point) or transfer them to travel partners.
Note: "Capital One Miles" is simply a marketing term for the Capital One rewards program. They're the equivalent of what everyone else calls "points." You can generally use the terms interchangeably.
TSA PreCheck / Global Entry Credit
Added bonus: You'll receive up to a $100 reimbursement every for years for using the card to purchase either TSA PreCheck ($85) or Global Entry ($100).
The card carries a $95 annual fee, which is not waived the first year. But you get a great deal out of this card, with a bonus that begins at $500 in value. And the card has no foreign transaction fees.
The Capital One Venture Rewards Purchase Eraser
The best way to convert your points to cash is through the Capital One Purchase Eraser. It works like this: For any travel charges, regardless of how you made the purchase, you can use your Capital One Miles to pay for them. The rate is 100 miles = $1, so you're getting a 2% rebate on all types of travel when you make it with the Capital One Venture card.
So what constitutes travel? According to the terms and conditions from Capital One, purchases made from airlines, hotels, rail lines, car rental agencies, limousine services, bus lines, cruise lines, taxi cabs, travel agents and time shares are generally considered to be travel purchases. Availability for redemption is based on the merchant category code assigned to them by the merchant.
Purchase Eraser redemptions must be made within 90 days from the date your travel purchase posts to your account.
Capital One Miles Expiration
Capital One Miles don't expire as long as you have the card. In other words, you can accumulate points for as long as you need to before a travel expense pops up. That feature makes the points a lot more flexible.
Capital One Venture Rewards Card: Additional Benefits
As a Visa Signature Card, the Capital One Venture card comes with a bunch of additional benefits. These are rarely perks that people think about when applying for a card, but when you need, them, you'll be glad you have them.
Capital One's Airline and Hotel Transfer Partners
The Capital One Venture Rewards card offers 16 airline and hotel partners to whom you can transfer points. The transfer ratios vary by partner, so I've broken them up for you:
Using Your Capital One Miles for Maximum Value
Traditionally, using your miles for international premium class tickets has garnered the best value, but that's not always the case. Be sure to keep an eye on those transfer ratios!
Use Turkish Miles and Smiles to Fly within North America
This program is a best bet for bargains within North America, which covers a heck of a lot of regions, including Mexico, the United States (including Hawaii), Bermuda, Canada and the Netherland Antilles. Of course, you won't be flying on Turkish Airlines. Rather, you'll use a Star Alliance partner, such as United or Air Canada. Turkish determines the cost of awards depending on your geographic "zone," so the breadth of what the airline considers to be North America will work in your favor.
Turkish is a 2:1.5 partner, so 100,000 Capital One miles are worth 75,000 Turkish Airways Miles and Smiles points. A one-way award starts at 7,500 miles wholly within the United States and 10,000 miles to from the United States to one of the other destinations. That's 10 one-way tickets from the lower 48 states to Hawaii.
Want to go in business class? How about 12,500 points for that ticket. Los Angeles to Cancun? Seattle to Bermuda? Those trips are only 10,000 miles. (Read more about how to use Turkish miles to fly business class within North America on the cheap.)
Europe is also inexpensive, with round trip economy tickets pricing out at 60,000 miles and business class tickets costing 90,000. Istanbul is a beautiful city and geographically advantaged transfer point, so consider flying on the host airline.
Try Avianca for Cheap Mileage Flights to Europe
Avianca LifeMiles are another underestimated favorite for redeeming miles. Capital One points transfer 1:1 to Avianca, so you'll be able to take advantage of their program at par.
One of my favorite uses of Capital One Miles is to transfer them to Avianca for premium class flights to Europe. Fly from New York to Paris in business class for just 63,000 miles one-way, so maxing out the Capital One bonus will be almost enough for a roundtrip in business to Europe. If you want to check out international First Class, such as Lufthansa's First Class which includes its famous First Class Terminal, it will only cost you 87,000 miles one way with no surcharges aside from their $30 booking fee.
Lufthansa First Class 747-800
Transfer Capital One Miles To Avianca for Cheap Flights to Asia, as well
Avianca is a great option for Asia, as well. Well, not Avianca itself, but you can use your miles on ANA, which is one of the top airlines in the region. There is no mileage chart for Avianca LifeMiles and the site is not particularly user-friendly (a common "feature" with many of the non-US airlines), but a little hunting and pecking will get you some answers. Business, depending on where you are flying in Asia, will run you 75,000 - 80,000 points, while First Class in the ANA Suite is about as good a product as you will find.
How about Hotel and Air (Business Class, of course) to Las Vegas?
Why not combine a few of the options that we've suggested? Use the Turkish Airlines suggestion above to fly to Las Vegas in a premium class of service for 25,000 miles roundtrip.
Then, find yourself a nice hotel. Capital One Miles convert to Wyndham Rewards at a 1:1 ratio. You're not going to want to stay at a Wyndham property, though. Instead, take advantage of the Wyndham Rewards partnership with Caesars, and book yourself three nights at The Cromwell, a boutique hotel in the center of the Las Vegas Strip. The hotel prices out at 30,000 points per night, so enjoy a long weekend and stay for three nights.
Other Ways to Use Your Capital One Venture Card Miles
Converting your Capital One Miles to airline miles or hotels points is the most profitable way to use them, but there are a few other options, as well.
Adequate: Use for Gift Cards or Travel
Book Travel: We've already discussed the Capital One Purchase Eraser above, but you can also book travel through the Capital One travel site. Points are worth a penny each (same as with the Purchase Eraser) for travel bookings. Because Capital One is a third-party site, though, you may not receive elite benefits and/or points with the travel provider.
Gift Cards: You can also purchase gift cards using Capital One Miles. In most cases, these miles are also worth a penny each.
Poor: Using for Cash or Shopping (Amazon, I'm Looking at You)
You can redeem points for non-travel expenses, but you really don't want to. Cashing them out directly is only worth 0.5 cents per point, turning the card into a 1% cash back card (Remember, you earn two Capital One Miles per dollar spent.). You can also shop with them through Amazon or make purchases through PayPal but again, you'll be doing so at a discount. Don't use these options!
Capital One Venture Rewards FAQ
What Credit Score do I need to get the Venture Rewards Credit Card?
You should have at least a 700 FICO score before applying for the card.
Do I Need to Pay My Bill in Full Every Month?
Yes, yes and double yes. It doesn't matter how much the card gives you in rewards; it will never offset the double-digit interest rates charged on any balance that you carry over from month to month. If you currently carry a balance, forget the rewards or miles credit cards and get a low-interest rate card, instead.
Does the Capital One Venture Rewards Card Provide Car Rental Damage Insurance?
It does, but only secondary insurance. There are only a few credit cards that provide primary insurance, which means that the card's insurance, not your primary auto insurance company, handles any incidents. For a great card option with primary coverage, check out the Chase Sapphire Preferred card or any of the ones on this list.
Can I Transfer Capital One Miles to Other People?
Yes, you can. They're pretty liberal with allowing you to share Capital One Miles with other people. The only real requirement is that they need to go to another Miles-earning account, not a Capital One credit card that offers cash back.
Does the Capital One Venture Rewards Card Offer Airport Lounge Access?
Not yet. As noted above, we do know that Capital One is opening airport lounges, but we don't know the cost to use the lounges or what card(s) you will need for access. It does not have lounge access with any independent providers.
Do Capital One Miles Expire?
Not as long as you have the card. This is a particularly important point, since you'll want to use your miles for the purchase eraser. You can wait as long as you want until you have an eligible travel expense.
What Does Capital One Count as a Travel Expense?
Purchases made from airlines, hotels, rail lines, car rental agencies, limousine services, bus lines, cruise lines, taxi cabs, travel agents and time shares are generally considered to be travel purchases. Note that it is the merchant, not Capital One, that codes the transaction category.
Is There a Limit on The Number of Points I Can Earn?
Nope, spend away. The limit on your points earnings is a function of how much you can spend. Remember, don't let the tail wag the dog. If you're not paying off your balance every month, get a low-interest rate card.
What Credit Bureaus will Capital One Pull?
One drawback to Capital One is that they will pull from all three bureaus - Equifax, Experian, and TransUnion.
Can I Add an Authorized User to my Venture Card?
Yes, you can, and their spending will earn points for you. There's no charge to add an authorized user.
Does the Capital One Venture Rewards Credit Card Offer Access to My Credit Score?
You will have access to your score from CreditWise, as well as receive notifications when there are changes to your score.
Is there a no-fee version of the Capital One Venture card?
There is. Called the Capital One VentureOne, you'll pay no annual fee, however, the card only earns 1.25 miles per dollar spent rather than 2 and the bonus offer for a new card pales in comparison by several hundred dollars worth of value, so it really makes sense to get this version of the Venture card. You can always downgrade it after the first year if you don't feel you are spending enough to justify the annual fee.
Conclusion: Is the Capital One Venture Card Worth It?
It is. I consider Capital One Venture to be as good as any 2% card on the market. It's true that you have to redeem for travel (or gift cards) to maximize the benefit but, if you're reading this, chances are good that you have at least occasional expenses in the eligible categories. I also really like the Citi Trifecta which pairs a 2% cash-back Citi Double Cash card with a Citi Premier.
But, unlike many 2% rebate cards, Capital One Venture also allows you to exchange your Capital One Miles for miles or points from airlines and hotels. That gives you added flexibility in how you can use your points.
The biggest perk now, though, may be the 100,000 point sign up bonus. Even 50,000 for spending $3,000 points in the first three months is a great deal. Those points are worth up to $1,000 if you use them to pay for travel but can be worth even more if you convert them to miles. You could end up with a business class trip to Europe or Asia, or multiplebusiness class tickets if you use them within North America (See the Turkish Airlines definition of "North America" for maximum value.).