Capital One VentureOne Rewards Credit Card Review [2023]: Easy Rewards for the Infrequent Traveler

The Capital One VentureOne Rewards Credit Card(Rates and fees) rarely gets much attention considering the size of the shadow cast by its big brother, the Capital One Venture Rewards Credit Card(Rates and fees), 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 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 a good option for you.

Key takeaways

• The Capital One VentureOne Rewards Credit Card offers new cardholders an introductory APR period on purchases and balance transfers, making it a suitable option for financing large expenses or consolidating debt. Keep in mind that there’s a balance transfer fee of 3% fee for the first 15 months. No fee for amounts transferred at the Transfer APR.
• Cardholders can earn 1.25 miles per dollar on every purchase, every day and 5 miles per dollar on hotels and rental cars booked through Capital One Travel
• The Capital One VentureOne Rewards has a $0 annual fee, making it a cost-effective choice for individuals who want to earn rewards.
• The bonus miles you earn with the Capital One VentureOne Rewards can be redeemed for various travel expenses, including flights, hotels, and car rentals. The card also offers flexible redemption options, including statement credits, gift cards, and transfers to over 15 airline or hotel partners.

Who should get the Capital One VentureOne Rewards Card?

The Capital One VentureOne Rewards Credit Card has a few attractive benefits. Infrequent travelers and frequent flyers alike might appreciate the card's no-fuss rewards, with 1.25 miles per dollar on every purchase, every day and 5 miles per dollar on hotels and rental cars booked through Capital One Travel. 

While there is a hefty bonus for travel booked through Capital One, your everyday purchases won't earn the highest rate around, so that's something to keep in mind. However, it's not completely ungenerous — especially considering the fact that there's a $0 annual fee. 

If you're planning to make a large purchase or have debt to pay off, the card also offers a 0% intro APR for the first 15 months on purchases and balance transfers (then 19.99% - 29.99% (variable) APR). This could be a low-cost way to fund a major expense, so long as you pay off the balance before the intro APR expires. There is a balance transfer fee of 3% fee for the first 15 months. No fee for amounts transferred at the Transfer APR.

Card basics

Card type	Travel
Credit card issuer	Capital One
Credit card network	Mastercard
Annual fee	$0
Early spend bonus	Earn a bonus of 20,000 miles once you spend $500 on purchases within 3 months from account opening
Rewards rate	1.25 miles per dollar on every purchase, every day and 5 miles per dollar on hotels and rental cars booked through Capital One Travel
Recommended credit score	Excellent, Good
Intro APR	0% intro APR on purchases for 15 months, then 19.99% - 29.99% (variable) APR 0% intro APR on balance transfers for 15 months, then 19.99% - 29.99% (variable) APR; 3% fee for the first 15 months. No fee for amounts transferred at the Transfer APR
Foreign transaction fee	None

Why we like the Capital One VentureOne Rewards: benefits and perks

• Early spend bonus: Earn a bonus of 20,000 miles once you spend $500 on purchases within 3 months from account opening.
  
• $0 annual fee: Spend and earn however you want without being charged for it.
• Earn easy miles on every purchase: Earn 1.25 miles per dollar on every purchase, every day and 5 miles per dollar on hotels and rental cars booked through Capital One Travel.
• Intro APR on purchases: The long intro APR period gives you time to pay off big purchases before you incur interest.
• Intro APR on balance transfers: You could transfer your balance from a high-interest credit card and work to pay it off without worrying about interest.
  
• 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 airline or hotel partners to help offset the cost of travel expenses.
• Car rental collision damage waiver¹ : Put your next eligible auto rental on your Capital One VentureOne Rewards Credit Card and you’ll get coverage that may protect you against damage due to collision or theft.
• Capital One Entertainment: Receive special access to a variety of music, sporting, and dining events through the Capital One Entertainment portal. You have the option to use your rewards, your card, or a combination of the two to pay for tickets.

What we don’t like about the Capital One VentureOne Rewards: drawbacks

• Lower earning rate: The Capital One VentureOne Rewards Credit Card offers a slightly lower earnings rate than its sister card, the Capital One Venture Rewards Credit Card. Venture cardholders earn 2 miles per dollar on every purchase, every day and 5 miles per dollar on hotels and rental cars booked through Capital One Travel.

Earning & redeeming Capital One Venture Rewards

Potential earnings in years one and two

Here's a look at how your miles can add up with the Capital One VentureOne Rewards Card. To calculate these values, we used a point valuation of 1.0 cents.

Remember, this is an estimation. The actual value will be determined by how much you spend and in which categories you spend.

Year one earnings: $618.75

Year two earnings: $418.75

These values are based on the FinanceBuzz Credit Card Rewards Valuation Model, which takes a look at points earned via spending, the early spend bonus, and the annual fee.

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.

Category	Rewards rate
Hotels and rental cars booked through Capital One Travel	5 miles per dollar
Every purchase, every day	1.25 miles per dollar

You don't have to worry about tracking lots of complicated spending categories or juggling multiple credit cards to max out your rewards. The VentureOne card earns 1.25 miles per dollar on every purchase, every day and 5 miles per dollar on hotels and rental cars booked through Capital One Travel — and the miles you earn never expire as long as your account remains open.

Maximizing your redemptions

Redemption rates vary depending on how you choose to redeem your miles but generally range between 0.5 cents to 1.7 cents each. When you book travel through the Capital One Travel portal, you get a fixed one cent per mile, flexible redemptions, and no blackout dates. In addition to travel, you can also redeem your miles for statement credits, cash back, or gift cards; however, those redemption options might offer less value.

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

Capital One transfer partners

Capital One cardholders have the option to transfer their travel rewards to over 15 airline and hotel partners. The transfer ratio for your miles varies based on the loyalty program. 

These ratios can also change over time, and it's important to be aware that not all transfers are instant. With certain programs, you can transfer miles immediately, but other transfers can take up to a few business days.

Airline	Airline alliance	Transfer ratio
AeroMexico	SkyTeam	1:1
Air Canada	Star Alliance	1:1
Air France	SkyTeam	1:1
Avianca	Star Alliance	1:1
British Airways	Oneworld	1:1
Cathay Pacific	Oneworld	1:1
Emirates	N/A	1:1
Etihad Airways	N/A	1:1
EVA Air	Star Alliance	2:1.5
Finnair	Oneworld	1:1
Qantas	Oneworld	1:1
Singapore Airlines	Star Alliance	1:1
TAP	Star Alliance	1:1
Turkish Airlines	Star Alliance	1:1
Virgin Atlantic (through Virgin Red)	N/A	1:1

Capital One also has three hotel partners, Accor Live Limitless (ALL), Choice Privileges, and Wyndham Rewards. Your Capital One Venture miles will transfer to Accor at a 2:1 ratio, though it's 1:1 for Choice and Wyndham. 

Capital One VentureOne Rewards Credit Card FAQ

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 it might not be the best credit card for everyone.

The Capital One Venture Rewards Credit Card, for instance, offers a higher early spend bonus: Earn a one-time bonus of 75,000 miles once you spend $4,000 on purchases within 3 months from account opening. This credit card also offers 2 miles per dollar on every purchase, every day and 5 miles per dollar on hotels and rental cars booked through Capital One Travel, and up to a $100 credit for Global Entry or TSA PreCheck® application fees. It does come with an annual fee of $95, though. You can compare the Capital One Venture vs. Capital One VentureOne cards directly to see which better fits your needs.

Read our full Capital One Venture Rewards Credit Card review.

Another travel rewards credit card worth considering is the Chase Sapphire Preferred^® Card, which has a $95 annual fee. It offers a high-value sign-up bonus: Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. The bonus offer alone is worth $750 when you redeem for travel through Chase Ultimate Rewards. Cardmembers also earn 5X points on travel purchased through Chase Ultimate Rewards®; 3X points on dining, select streaming services, and eligible online grocery purchases; 2X points on all other travel purchases, and 1X points per $1 on all other eligible purchases. 

Read our full Chase Sapphire Preferred review. 

Capital One VentureOne Rewards: bottom line

The Capital One VentureOne Rewards Credit Card offers a compelling combination of benefits, including a long intro APR, $0 annual fee, and an early spend bonus.

With this travel rewards card, you can earn miles on every purchase, every day and enjoy travel benefits such as auto rental collision damage waiver and 0% foreign transaction fees when you’re abroad. Additionally, you can transfer miles to travel partners, which might expand the redemption value for you.

Check out our list of the best travel credit cards to explore more options, including cards that offer lounge access, travel accident insurance, and more travel-related benefits.