Capital One® VentureOne® Rewards Credit Card Review

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The Capital One® VentureOne® Rewards Credit Card offers 1.25 miles per dollar on every purchase, no annual fee and no foreign transaction fees, so if you spend time traveling this card may be a fit for you.

You can earn 1.25 miles per dollar spent on purchases, and those miles can then be redeemed for 1 cent each towards most travel purchases made with the card. Keep in mind redemption values may vary based on what and how you redeem your rewards.

If you qualify the Capital One® VentureOne® Rewards Credit Card currently offers a one-time bonus of 20,000 miles once you spend $1,000 on purchases within 3 months of approval, equal to $200 in travel.

Capital One® VentureOne® Rewards Credit Card snapshot

Annual Fee$0
Foreign Transaction FeeNone
Introductory APR0% introductory APR on purchases for 12 months; 12.99% - 22.99% variable APR after that
Bonus OfferOne-time bonus of 20,000 miles once you spend $1,000 on purchases within 3 months from account opening, for qualifying new cardmembers
Earning RateUnlimited 1.25 miles per dollar on every purchase
Credit NeededExcellent, Good

Capital One® VentureOne® Rewards Credit Card basics

The Capital One® VentureOne® Rewards Credit Card is the no-annual-fee version of the premium Capital One® Venture® Rewards Card. It earns fewer miles per dollar spent than its more expensive cousin, but still charges no foreign transaction fees on purchases made outside the United States, so it can be a good option for infrequent travelers, together with a more lucrative credit card for use domestically.

Capital One® VentureOne® Rewards Credit Card rewards

The rewards program of the Capital One® VentureOne® Rewards Credit Card is broken into two parts: how you earn miles, and how you redeem them.

Earning miles is easy: for every dollar you spend on purchases with the card, you earn 1.25 miles. You won’t earn any miles on cash advances or balance transfers.

Redeeming those miles is the tricky part. VentureOne® Rewards miles can be redeemed for 1 cent each against travel purchases made with the card, as long as the redemption is made within 90 days of the travel purchase.

To see how this works, imagine during the course of the year you spend $5,000 on your Capital One® VentureOne® Rewards Credit Card. Those purchases can be anything, from gas to groceries and clothes to toys. At the end of the year, you’ll have 6,250 VentureOne Rewards miles.

Those miles are worth $62.50 — but only when redeemed against a travel purchase. That means after you’ve accumulated the miles you want to redeem, you’ll need to make another travel purchase, whether it’s a plane ticket, hotel stay, or rental car reservation, in order to redeem your VentureOne Rewards miles at their full value.

Capital One® VentureOne® Rewards Credit Card pros

The biggest advantage of the Capital One® VentureOne® Rewards Credit Card is that it’s a no-annual-fee credit card that doesn’t charge foreign transaction fees on purchases made outside the United States. There are relatively few no-annual-fee cards that also don’t charge foreign transaction fees.

As we mentioned before if you qualify the Capital One® VentureOne® Rewards Credit Card also currently offers a one-time bonus of 20,000 miles once you spend $1,000 on purchases within 3 months of approval. That’s equal to $200 in travel.

Capital One® VentureOne® Rewards Credit Card, compared to other cards

Unfortunately, the Capital One® VentureOne® Rewards Credit Card has a few drawbacks, compared to similar cards:

Credit CardRewardsForeign Transaction FeesAnnual Fees
Capital One® VentureOne® Rewards Credit CardUnlimited 1.25 miles per dollar on every purchaseNone$0
Citi® Double Cash CardEarn cash back twice on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases3% of each purchase transaction in U.S. dollars$0
Fidelity® Rewards Visa Signature® CardUnlimited 2% cash back on your purchases into an eligible Fidelity account to either spend or invest 1% of each foreign transaction $0

Capital One® VentureOne® Rewards Credit Card miles have to be redeemed against travel purchases to get their full value, which might not be possible if  you prefer to use a different credit card for your travel purchases due to other benefits like protection against lost baggage or trip cancellation and trip interruption.

Should you get this card?

This card could be considered a solution for infrequent international travelers who want to avoid foreign transaction fees on purchases on occasional international trips, and who don’t mind making the occasional travel purchase with the card in order to redeem their rewards at their full value.

A more frequent international traveler may want to consider a more lucrative rewards card like the Capital One® Venture® Rewards Credit Card, which, if used responsibly by you, can make up for its annual fee by earning more cash back on all purchases, or the even the Chase Sapphire Preferred® Card which earns points that can be transferred to Chase’s travel partners. Chase Sapphire Preferred® Card has an introductory annual fee of $0 for the first year and after that an ongoing annual fee of $95.

In any case, someone who travels abroad infrequently may want to consider also carrying a rewards cards that offers higher earning as well as no annual fee like the Citi® Double Cash Card (Citi is a CreditSesame.com advertiser) or Fidelity® Rewards Visa Signature® Card in order to earn as many rewards as possible on domestic purchases, where foreign transaction fees may come into play (keep in mind some card issuers may charge you a foreign transaction fee if you make a purchase from an international company even if you are making the purchase while in the United States).

Here is some additional information about the Capital One® VentureOne® Rewards Credit Card and be sure to check Capital One’s website (as well as all the credit card issuer’s websites) for current rates, fees, rewards details, including a guide to their benefits and other information before you apply. Please keep in mind that credit scores is just one criteria that credit card companies use to determine if you qualify for one of their cards and having a credit score in a particular range is not a guarantee that you will be approved for the card or for the terms you applied for. It’s up to you to manage your account and credit obligations responsibly.

Rewards Structure (Terms and conditions apply)Other Card Features (Terms and conditions apply)
Earn unlimited 1.25 miles per dollar on every purchaseShopping discounts - special discounts at retailers and online merchants with your Visa Signature card
One-time bonus of 20,000 miles once you spend $1,000 on purchases within the first 3 months of approval, for qualifying new cardmembersComplimentary concierge service 24/7
Redeem rewards for flights, hotel stays, car rentals and other travel expenses; travel when you want with no blackout datesShopping benefits - Extended Warranty - additional warranty protection at no charge on items that are purchased with your credit card

Learn More:

Best Rewards Credit Cards


Editor’s Note: The information related to the Chase Sapphire Preferred® Card has been collected by CreditSesame.com and has not been reviewed or provided by the issuer of this card.

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Published February 25, 2016
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