You’ve seen Jennifer Garner on your small screen touting the benefits of the Capital One® Venture® Rewards Card for years. If you’re looking for an easy-to-use travel rewards credit card, it could be a great choice.
But did you know that the Capital One Venture Rewards has an alternative version? The Capital One® VentureOne® Rewards is a bit of a mouthful, but for casual travelers who don’t want to pay an annual fee, this lesser-known card is worth a look.
Both the Venture and VentureOne Rewards cards are straightforward options that allow you to redeem your miles on almost any airline without any blackout dates or restrictions.
It’s important to know the key differences between the two before you decide which one is right for you. Let’s take a deeper look at the benefits of both of these cards.
Capital One Venture vs. Capital One VentureOne
|Capital One Venture||Capital One VentureOne|
|Annual fee||$95 (waived first year)||$0|
|Early spend bonus||Earn 50,000 bonus miles after spending $3,000 in the first 3 months||Earn 20,000 bonus miles after spending $1,000 in the first 3 months|
|Earning rate||10X miles on bookings with Hotels.com through January 2020 and 2X miles on every purchase, every day||10X miles when booking on Hotels.com through January 2020, and 1.25X miles on every purchase, every day|
|Intro APR||N/A||0% APR on new purchases for 12 months|
|Foreign transaction fee||None||None|
|Credit needed||Excellent, Good||Excellent, Good|
What do the Capital One Venture and Capital One VentureOne Rewards have in common?
As their nearly-identical names would suggest, the Capital One Venture and VentureOne Rewards cards are close cousins and share several great benefits.
Though the Capital One Venture Rewards and the Capital One VentureOne Rewards cards earn different rates for everyday spending, they both earn an incredible 10X on bookings with Hotels.com.
This is one of the highest spending bonuses on hotels across any bank travel rewards credit cards! Unfortunately, it’s set to end in the new year, so you’ll need to act quickly if you’re looking to take advantage of this opportunity.
One downside to booking through Hotels.com, however, is that you typically won’t earn any hotel loyalty rewards on that stay. For example, if you book a Hilton room through Hotels.com, your Hilton Honors account likely won’t be credited with the points or night credit for that stay.
But the upside is that Hotels.com has its own loyalty program that you can earn credit for. For every 10 nights you book through Hotels.com, you’ll get a free night.
Both versions earn miles from everyday spending that are very easy to redeem. There’s no seat restrictions, no worry about award availability on certain dates, and no special partner portal to navigate. Just log into your account, click on your miles balance, and redeem right there.
Popular ways to redeem miles on both the Venture and VentureOne Rewards cards include “erasing” travel purchases with statement credits, booking new travel directly through Capital One, or cashing out miles for gift cards. All of these redemption options give you the ability to lock in a fixed value of one cent per mile.
Venture and VentureOne Rewards both also offer the ability to redeem miles for cash back. But since you’ll only get a cash value of 0.5 cents per mile this way, it’s usually not the best choice.
Another option to redeem miles with both the Capital One Venture Rewards and the Capital One VentureOne cards is to transfer miles directly to more than a dozen different airline partners’ loyalty programs, including:
|Aeromexico (Club Premier)||Cathay Pacific (Asia Miles)||Hainan Airlines (Fortune Wings Club)|
|Air Canada (Aeroplan)||Emirates (Skywards)||JetBlue (TrueBlue)|
|Air France-KLM (Flying Blue)||Etihad Airways (Etihad Guest)||Qantas (Frequent Flyer)|
|Alitalia (MilleMiglia)||EVA Air (Infinity MileageLands)||Qatar Airways (Privilege Club)|
|Avianca (LifeMiles)||Finnair (Finnair Plus)||Singapore Airlines (KrisFlyer)|
All Capital One miles transfer to airline partners at a ratio of 2:1.5 — with the exceptions of Emirates, JetBlue, and Singapore Airlines, which transfer at a 2:1 ratio.
On the surface, transfers at this ratio may not seem like the best way to redeem Venture miles. If you’re looking to book a low-priced economy ticket, using the Purchase Eraser statement credit is usually the best way to redeem.
But in many cases, transferring Capital One Venture miles directly to a partner airline can unlock much higher value for them. If you’re willing to spend a little time learning how to navigate the award charts of some of these foreign airline carriers, you could redeem your Capital One miles for double (or even triple!) the fixed one-cent per mile value.
Watch out for special bonus transfer offers where you can get up to a 30% bonuses on specific airline partners. For example, Capital One is currently offering a 33% bonus when you transfer your miles to Australian carrier Qantas (ends Oct. 31, 2019), effectively allowing you to transfer your miles at a 1:1 rate.
4 important ways the Capital One Venture and VentureOne Rewards are different
While these two cards are very similar on the redemption side, the Venture Rewards and the VentureOne Rewards have notable differences when it comes to earning miles. Considering these differences is important when you’re deciding which one is right for you.
1. Annual fee
The first important difference is the annual fee. The Capital One Venture Rewards carries an annual fee of $95 (waived first year). The VentureOne Card, however, has a $0 annual fee for as long as you have it.
2. Early spend bonus
There’s a big difference in bonus miles earned between the two cards, as well as in the amount of minimum spend required to earn the bonus.
The Capital One Venture Rewards will earn 50,000 bonus miles after spending $3,000 in the first 3 months. That’s worth $500 in travel credits. On the other hand, the Capital One VentureOne Rewards will earn 20,000 bonus miles after spending $1,000 in the first 3 months, giving you a bonus worth $200 in travel credits.
The VentureOne Rewards Card offers less value in this category but also requires a much lower minimum spend; those with lower budgets may still get great use from the smaller bonus.
3. How much it earns
The Venture Rewards Card earns 10X miles on bookings with Hotels.com through January 2020 and 2X miles on every purchase, every day; the VentureOne Rewards Card earns 10X miles when booking on Hotels.com through January 2020, and 1.25X miles on every purchase, every day.
That means for every $1,000 you spend on the Venture for general purchases, you’ll score 2,000 miles, while the same amount spent on the VentureOne would earn 1,250 miles.
4. Introductory APR
Here’s where the VentureOne may come out on top for some people. The Capital One VentureOne Rewards boasts a 0% APR (annual percentage rate) on purchases for the first 12 months of the new account. The Capital One Venture Rewards, on the other hand, doesn’t offer an introductory APR.
Those who are planning a large purchase and want some extra time to pay it off may find the VentureOne’s offer particularly attractive.
Which card is right for you?
If you like the idea of travel rewards that are easy to earn and redeem, both cards in the Venture family are good choices.
The Capital One Venture Rewards and Capital One VentureOne Rewards cards share identical options to redeem miles in simple, straightforward ways. You won’t have to worry about rotating bonus categories to earn extra miles, and you won’t be faced with any blackout dates or travel restrictions when you use the “Purchase Eraser” to redeem.
The biggest difference between the two cards lies in how many miles you’ll earn. With its 50,000 miles early spend bonus (worth $500 in travel credit), the Venture Card comes out $300 ahead of the VentureOne in the first year, depending on how you redeem your miles. Those extra miles could go a long way toward your next trip.
The Capital One Venture Rewards also offers up to a $100 statement credit for Global Entry or TSA PreCheck. These are great programs for traveling both domestically and internationally, and can save you a lot of time at the airport. If you’re looking to sign up for one of these services, the Venture Card could be the right choice for you.
Annual fee is the other key distinction between the two Venture versions. If you’re strongly opposed to paying any annual fees, you may be happier with the Capital One VentureOne Rewards Card for the long term.
But for the first year, you should still consider giving the Capital One Venture Rewards a shot. That’s because the Venture Card waives its annual fee for the first year, and it gives a larger early spend bonus than the VentureOne.
Plus, you’ll enjoy the 2X earning power of the Venture Card, compared to the lower} earnings the VentureOne Card gives.
How much will you spend?
After the first year, here’s an easy way to know if the Capital One Venture Rewards or the Capital One VentureOne Rewards is best for you.
Will you spend at least $1,056 per month on the card? If the answer is yes, the 2X earning power on the Venture Rewards should offer enough value to outweigh the annual fee.
Here’s how: If you spend $1,056 per month on the Venture Card, you’d earn 25,344 Capital One miles per year. That’s equal to $253 in travel credit. Once you subtract the $95 (waived first year) annual fee, you’re sitting on a net gain of $158.
That same $1,056 amount spent on the VentureOne Card would earn $158 in travel credits. So if you spend more than $1,056 each month, the larger earning power of the Capital One Venture Rewards should outweigh the annual fee.
If you won’t spend that much on the card but still want to enjoy a solid 1.25X earnings rate with an easy-to-use rewards program, the Capital One VentureOne Rewards Card is a safe bet.
Can you use Capital One Venture miles on any airline?
Yes! The great thing about Capital One miles is that they’re very versatile. You can either purchase your airline tickets directly on your Venture Card and then use the “Purchase Eraser” to receive statement credit, or you can book travel through the Capital One portal.
How much are Capital One miles worth?
Capital One miles have a fixed value of one cent per mile, as long as you redeem them for a statement credit, gift cards, or booking travel directly through Capital One. If you choose to redeem them for cash back, they’ll be worth only 0.5 cents each. And if you transfer your miles to an airline and book a flight, the exact value of your miles will vary.
Do Capital One Venture Card miles expire?
As long as your Capital One Venture account is still open and in good standing, your miles will never expire. Plus, there’s no limit on the amount of miles you can earn.
Can you combine Capital One miles?
You can transfer your miles to a friend or family member with a Capital One miles-earning account easily. There’s no cost, and there’s no limit to how many miles you can transfer. Other major travel rewards programs may have stricter restrictions, if they allow sharing at all.
You can also transfer Capital One miles directly to your accounts on 15 different airline transfer partners.