Capital One® VentureOne® Rewards Review: Easy Rewards for the Infrequent Traveler [2020]

If you want to earn miles for the occasional trip but don’t want to pay an annual fee, the Capital One VentureOne Rewards Credit Card deserves some attention.
Last updated Sep 24, 2020 | By Matt Miczulski

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The Capital One® VentureOne® Rewards Credit Card (learn more) rarely gets much attention considering the size of the shadow cast by its big brother, the Capital One® Venture® Rewards Credit Card, and its national ad campaigns. 

Although the latter gets much of the spotlight, the Capital One® VentureOne® Rewards Credit Card may be an enticing alternative if you’re a casual traveler looking for a no-fuss rewards card but can’t quite justify paying an annual fee.

Before jumping in with both feet and applying, it’s best to take a close look at everything this card has to offer. This Capital One® VentureOne® Rewards Credit Card review will help you decide whether or not this card is the best option for you.

0% intro APR on purchases

Benefits

  • 20,000 bonus mile welcome offer
  • 0% introductory APR on purchases for 12 months
  • 1.25X miles on every purchase, every day
  • No foreign transaction fees
  • No annual fee

Drawbacks

  • Other cards may offer higher rewards rate
  • No intro APR for balance transfers


Who should get this card?

The Capital One VentureOne Rewards Credit Card has a few attractive benefits. Infrequent travelers will appreciate the card's no-fuss options to earn rewards, with 1.25X miles on every purchase, every day. 

Although your everyday purchases won't earn the highest rate around, it’s not completely ungenerous either — especially considering the fact that there's no annual fee. 

Even better, the card also offers a 0% intro APR for the first 12 months, which allows you to take your time paying off any purchases you make. This could be a low-cost way to fund a major purchase you need, so long as you pay off the balance before the intro APR expires.

Card basics

Card Type Travel
Card Issuer Capital One
Annual Fee $0
Bonus Earn 20,000 bonus miles after spending $1,000 in the first 3 months
Rewards rate 1.25X miles on every purchase, every day
Recommended Credit Score Excellent
Foreign Transaction Fee None

Top card benefits

  • New cardmember offer: Earn 20,000 bonus miles after spending $1,000 in the first 3 months.
  • $0 annual fee: Spend and earn however you want without being charged for it.
  • Earn easy miles on every purchase: No matter what you buy, earn 1.25X miles on every purchase, every day.
  • 0% intro APR on purchases: Get the first 12 months off from being charged interest on any of your purchases.
  • No foreign transaction fees: It’s not much of a travel credit card if you have to pay a fee for every purchase made abroad. With this card, you don’t.
  • Flexible travel redemption: How you fly and where you stay is up to you, as Venture miles aren’t tied to a specific airline or hotel. You can also transfer your miles to one of Capital One’s travel loyalty programs.
  • Car rental damage waiver: Put your next eligible car rental on your Capital One VentureOne Rewards Credit Card and you’ll get secondary coverage to protect you against damage due to collision or theft.

Earning & redeeming

Best ways to earn

The Capital One VentureOne Rewards Credit Card is a strong choice if you’re looking for a straightforward rewards credit card and have no desire to pay an annual fee while you build up your rewards.

You don't have to worry about tracking complicated spending categories or juggling multiple credit cards to max out your rewards. The VentureOne card earns 1.25X miles on every purchase, every day — and the miles you earn never expire.

Maximizing your redemptions

Redemption rates vary depending on how you choose to redeem your miles but generally range between 0.5 cents to one cent each. While transferring to an airline partner can sometimes yield a higher rate — depending on the airline — booking your travel through the Capital One travel portal gives you a fixed one cent per mile, high flexibility, and no blackout dates.

When you transfer your miles to an airline partner, two of your miles typically gets you 1.5 partner miles — though this varies by airline, with some offering lower transfer rates.

Maximum redemption value Value per mile
Statement credit One cent
Capital One travel booking portal One cent
Gift cards One cent
Transfer rewards to another account (friends and family) Miles transfer at a rate of 1:1   
Moderate redemption value Value per mile
Airlines transfer partners Between 0.5 cents and 0.75 cents per mile
Lowest redemption value Value per mile
Cash back 0.5 cents

Is the Capital One VentureOne Credit Card worth it?

If you prefer a straightforward rewards program, not to mention a 0% intro APR for 12 months, this card could be a good fit. Plus, if you find yourself traveling abroad, you won’t be dinged each time you swipe your card, as there are no foreign transaction fees.

There are several other no-annual-fee travel cards that provide higher ongoing rewards, however, not to mention more lucrative welcome bonuses. Whether the VentureOne is worth it or not really depends on how much traveling and spending you plan to do and how quickly you want to rack up miles.

Common questions

How much are Capital One reward miles worth?

The value of your Capital One rewards miles vary depending on how you redeem them, but the base value is generally one cent per mile. Transferring to some airline partners may yield a different value, and redeeming as cash back will decrease the value of your miles by half.

How many Capital One miles do you need for a flight?

Unfortunately, there’s no straight answer besides “it depends.”

All miles redeem at the rate of one cent per mile for travel, so to get a $300 ticket, for instance, you’d need at least 30,000 miles.

What are the transfer partners for the Capital One VentureOne?

You can transfer your rewards miles to one of Capital One’s 10-plus participating airline partners for more flexibility in how your redeem your miles. Airline partners include:

  • Aeromexico
  • Air France-KLM
  • Air Canada
  • Alitalia
  • Asia Miles
  • Avianca LifeMiles
  • Emirates Skywards
  • Etihad Airways
  • EVA Air
  • Finnair
  • Hainan Airlines
  • JetBlue
  • Qantas
  • Qatar Airways
  • Singapore Airlines

What credit limit is offered by the Capital One VentureOne?

Your credit line is determined after a review of your application and your ability to pay, but the minimum credit line you’ll receive is $1,000.

Does the Capital One VentureOne offer a 0% intro APR on balance transfers?

No, the 0% intro APR offer is only for purchases in the first 12 months. The APR for balance transfers is based on your creditworthiness, though this APR will vary with the market based on the Prime Rate.

Is there a balance transfer fee for the Capital One VentureOne?

It depends. There’s no fee for balances transferred at the standard transfer APR, but if a balance is transferred and posts to your account at a promotional APR that Capital One may offer, the fee is 3% of the amount of each transferred balance.

What does it mean if I’m approved for the Visa Platinum version of the Capital One VentureOne?

Depending on your credit limit when approved, you’ll get one of two versions of the card — Visa Platinum or Visa Signature.

The Visa Platinum version of the card comes with basic protections and is for anyone approved with a credit line below $5,000. The Visa Signature version, on the other hand, is for those approved with limits of $5,000 or above and comes with better perks, such as discounts, better protections, and premium benefits at the Visa Signature Luxury Hotel Collection.

Other cards to consider

The $0 annual fee of the Capital One VentureOne Rewards Credit Card definitely jumps out as a major selling point, but there are other comparable cards that offer a better welcome bonus and higher earning rate for everyday spending.

The Capital One Venture Rewards Credit Card, for instance, offers a higher early spend bonus, 2X miles on every purchase, and a $100 Global Entry or TSA PreCheck credit

If you’re set on not paying an annual fee, the Wells Fargo Propel card is another alternative that offers cardholders the chance to earn up to 3X points on every dollar spent. To sweeten the pot, earn 20,000 points when you spend $1,000 within the first 3 months

0% intro APR on purchases

See how these cards compare:

Capital One® Venture® Rewards Credit Card
Capital One® Venture® Rewards Credit Card
  • 100,000 bonus mile welcome offer
  • 2X miles on every purchase, every day
  • Up to $100 Global Entry or TSA PreCheck fee credit
  • No foreign transaction fees
Wells Fargo Propel American Express Card
Wells Fargo Propel American Express Card
  • 3X points on several popular categories
  • 0% intro APR on purchases and balance transfers
  • No foreign transaction or currency conversion fees
  • Terms apply