Capital One Venture Rewards Credit Card Review [2024]: How I Found Value Beyond The Annual Fee

Key takeaways

Card basics

Who should get the Capital One Venture Rewards Credit Card?

The Capital One Venture Rewards Credit Card has been providing a lot of value for a broad spectrum of travelers since it was first launched in 2010, from casual vacationers looking to get more out of their annual getaways to those who hit the road frequently for business or pleasure.

The Capital One Venture’s straightforward rewards program offers 2 miles per dollar miles on every purchase, every day. These miles are quite flexible. You can use them on Capital One Travel to book flights, hotels, and car rentals. You can also redeem them for cash back, use them for online shopping, and transfer them to Capital One travel partners.

The Capital One Venture enables you to boost your miles soon after qualifying for this card as you can earn 75,000 bonus miles once you spend $4,000 on purchases within 3 months from account opening, worth $750 toward travel.

Needless to say, as a travel rewards credit card, the Capital One Venture wouldn’t be a good fit for someone who rarely travels. While you can redeem your miles for cash back, you’d be better off using a cash back credit card.

What should you know before applying?

As a frequent international traveler, I love that the Capital One Venture offers up to a $120 statement credit every four years for the Global Entry application fee. Global Entry, which includes TSA PreCheck®, expedites your journey through airport security and border control within the U.S. and when arriving home from abroad.

Using this benefit in my first year of having this card fully offset the $95 annual fee.

On top of this benefit, the Capital One Venture comes with a host of protections, such as MasterRental insurance and extended warranty. These protections helped me out of a number of unfortunate situations and continue to give me peace of mind when I use this card. For instance, the MasterRental insurance once saved me from hefty repair costs after a minor parking lot mishap.

Here's a closer look at this card's top benefits

Generous welcome offer

The Capital One Venture Rewards Credit Card(Rates and fees) hooked me right away with its awesome welcome offer. You can earn 75,000 bonus miles once you spend $4,000 on purchases within 3 months from account opening — that's a solid $750 value if you redeem those miles for travel through Capital One.

I was able to meet that minimum spend pretty easily by putting all my regular bills and daily expenses on the card for the first few months. Having that nice chunk of miles in my account from the get-go gave me a head start on saving up for my next vacation.

Easy rewards program

One of my favorite things about the Venture card is how refreshingly simple it is to earn rewards. With a flat 2 miles per dollar miles on every purchase, every day, I don't have to juggle different credit cards or track bonus categories.

Whether I'm booking a flight, filling up my gas tank, or just grabbing groceries, it all adds up at the same straightforward earning rate. That’s why it’s my go-to card for general everyday purchases.

Up to $120 Global Entry or TSA PreCheck® statement credit

This is one of those benefits that might seem small but has actually provided a ton of value during my time as a Venture cardholder.

The up to $120 statement credit to cover the application fee for Global Entry or TSA PreCheck® ended up totally offsetting the annual fee for me in my first year. And let me tell you, breezing through airport security and immigration is an amazing perk that you’ll appreciate well beyond its dollar value once you see how much time it saves.

Flexible travel redemption options

The versatility of the Capital One miles is huge for anyone who doesn't want to be locked into a single airline or hotel loyalty program. I can either redeem my miles directly through the Capital One portal or I can transfer them to one of Capital One's 15+ travel partners. Having the ability to easily move my rewards over to airline and hotel programs has allowed me to take advantage of some sweet award redemption deals.

For example, I previously transferred my miles to Turkish Airlines’ Miles and Smiles loyalty program. Turkish Airlines is a member of the Star Alliance, which also includes United. This allowed me to book award business flights on United at an amazing value.

No foreign transaction fees

As an avid traveler, I really appreciate not having to pay those pesky foreign transaction fees when I use my Venture card abroad. These fees can really start adding up over a longer international trip. With the Venture card, I can use it stress-free no matter where I go without worrying about getting dinged with extra charges.

Valuable travel perks

While the Venture may not offer a ton of premium travel benefits like some higher-end cards, it does come with some nice built-in perks that I've taken advantage of. The MasterRental insurance gives me peace of mind whenever I have to rent a vehicle, and the travel assistance services have helped me get an emergency replacement after I lost my wallet with my card in it.¹ <p class="">For Capital One products listed on this page, some of the above benefits may be provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply.<br></p>

These aren’t flashy benefits, but they provide useful add-on value nonetheless.

However, I can’t deny that my recent upgrade to the Capital One Venture X Rewards Credit Card(Rates and fees) has been a great experience. This card provides many of the same benefits and more. This adds unlimited lounge access, up to $300 in travel credit every account anniversary via Capital One Travel, and 10,000 anniversary miles. But it does come with a $395 annual fee.

Drawbacks: Why you may want a different card

The $95 annual fee

The $95 annual fee for the Capital One Venture Rewards Credit Card(Rates and fees) is a cost that you should consider. I remember feeling hesitant about committing to an annual fee when I first considered this card. However, the benefits and rewards ultimately outweighed the cost for me.

One scenario where the annual fee could be a dealbreaker is if you only occasionally travel and don’t take advantage of the card's travel perks. In that case, a $0-annual-fee travel card like the Capital One VentureOne Rewards Credit Card(Rates and fees) might be a better choice.

Lounge access

Lounge access can be a game-changer for frequent travelers, providing a comfortable place to relax, work, or grab a bite during long layovers or delays. Unfortunately, the Capital One Venture Rewards Credit Card is falling behind in this department. It doesn't offer complimentary lounge visits. That’s why I recently applied for the Capital One Venture X Rewards Credit Card(Rates and fees) to get unlimited complimentary lounge access.

Limited travel credits

While the Capital One Venture Rewards Credit Card(Rates and fees) offers up to $120 statement credit every four years for the Global Entry or TSA PreCheck® application fee, it lacks some of the travel credits that similar travel cards provide.

If you already have Global Entry or TSA PreCheck®, this benefit wouldn’t mean much. That’s why you might find more value in a different type of travel credit.

For instance, the Chase Sapphire Preferred^® Card provides up to $50 in statement credits each account anniversary year for hotel stays booked via Chase Travel. Over four anniversary years, this benefit amounts to $200 if you take full advantage of it. The Sapphire Preferred doesn’t offer credit for Global Entry or TSA PreCheck®, but many travelers may prefer the statement credits toward hotel stays.

Earning & redeeming Capital One miles

Potential earnings in years one and two

Here's a look how your miles can add up with the Capital One Venture Rewards Credit Card(Rates and fees). To calculate these values, we used a point valuation of 1 cent per mile.

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: $1,521

Year two earnings: $771

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.

Note that this valuation does not include any of the credits that come with this card. If you take advantage of the application fee credit for TSA PreCheck® or Global Entry, your value will be further increased by another up to $120. In addition, you may increase the value of this card by transferring your miles to Capital One's travel partners.

Best ways to earn

Earning rewards with the Venture is simple. Earn 2 miles per dollar on every purchase, every day, 5 miles per dollar on hotels, vacation rentals and rental cars booked through Capital One Travel and 5 miles per dollar on Capital One Entertainment purchases through 12/31/25. 

Capital One Venture Rewards miles never expire as long as the account is active, and there are no limits to how many miles you can earn. This flexibility allows you to accrue as many miles as you can.

When planning for an upcoming trip, you don’t need the added inconvenience of playing credit card roulette with other rewards cards. A perk of using the Capital One Venture Rewards Credit Card is that you can earn miles on any travel-related purchase, regardless of the carrier or hotel brand.

Maximizing your redemption

As a frequent traveler, I've found that the key to truly maximizing the value of my Capital One miles lies in redeeming them for travel purchases. Whether it's booking flights, hotels, rental cars, or covering other travel-related expenses, this redemption method consistently yields the highest value per mile.

However, the true power of the Capital One miles lies in their flexibility. While the Capital One Travel portal is a convenient option, I've often found even better deals by transferring my miles to one of Capital One's airline or hotel loyalty partners.

This strategy has allowed me to take advantage of sweet spots and unlock incredible redemption values, like the time I transferred miles to Turkish Airlines to book a business flight at a fraction of the cash cost. The cash price for a business ticket from Istanbul to Dubai was $2,494. But I found the same ticket for 28,000 miles on Turkish Airlines’ Miles&Smiles; program, plus $100.48. Saying that this ticket was a steal would be an understatement.

That said, the Venture card's redemption options extend far beyond just travel. While the value for other redemptions may not be as lucrative as travel redemptions, this versatility can come in handy when you need a little extra flexibility.

Overall, Capital One Venture Rewards' redemption options include:

Capital One transfer partners

While the Capital One Venture Rewards Credit Card offers a straightforward earning structure and flexible redemption options, it's worth noting that transferring your miles to Capital One's airline and hotel partners can sometimes be a more valuable option than redeeming through the Capital One Travel portal.

For example, during my last trip to Asia, I transferred my Capital One miles to Singapore Airlines' KrisFlyer program to book a business class flight at a significant discount compared to the cash rate. The transfer process was smooth, and my miles appeared in my KrisFlyer account less than 30 minutes later.

There are over 15 airline and hotel partners available to eligible Capital One cardholders. The minimum transfer for all partners is 1,000 miles, but the ratio at which you can transfer your miles varies depending on the partner.

Capital One also has three hotel transfer partners: Accor Live Limitless (ALL), Choice Privileges, and Wyndham Rewards. All three require a minimum transfer of 1,000 miles but the transfer ratios of each differ.

Other cards to consider

Although the Capital One Venture Rewards offers an impressive lineup of card benefits for frequent flyers and avid travelers, there are other cards among the best rewards cards for travel that could be a better fit for you.

Capital One Venture X Rewards Credit Card(Rates and fees)

As someone always seeking more luxury and value from my travel rewards card, I couldn't resist upgrading to the Venture X after Capital One released it in 2021.

One of the most valuable perks is the $300 annual travel credit that you can use to cover bookings through Capital One Travel. This perk alone can go a long way toward offsetting the $395 annual fee.

The Venture X also provides unlimited complimentary access to Capital One's growing collection of airport lounges and over 1,300 Priority Pass lounges worldwide.

But the benefits don't stop there. The Venture X also provides an annual bonus of 10,000 miles every account anniversary. Other premium perks include Hertz President's Circle status² <p class="">Upon enrollment, accessible through the Capital One website or mobile app, eligible cardholders will remain at that status level through the duration of the offer. Please note, enrolling through the normal Hertz Gold Plus Rewards enrollment process (e.g. at Hertz.com) will not automatically detect a cardholder as being eligible for the program and cardholders will not be automatically upgraded to the applicable status tier. Additional terms apply<br></p> , impressive travel protections, and up to $120 credit for Global Entry or TSA PreCheck® application fees.

Learn more in our Capital One Venture X Rewards Credit Card review or our Capital One Venture versus Venture X comparison.

American Express^® Gold Card

If you spend a decent amount on travel expenses and restaurant purchases each month, you may want to consider the American Express^® Gold Card. While the Amex Gold card has a higher $325 annual fee, it also comes with up to $120 dining credits and up to $120 in Uber Cash each year in $10 monthly credits to use on U.S. Eats and rides (select benefits require enrollment). Effective 11/8/2024, an Amex Card must be selected as the payment method for your Uber or Uber Eats transaction to redeem the Amex Uber Cash benefit.

Additionally, the Amex Gold helps you earn 4X Membership Rewards points at restaurants worldwide (up to $50,000 per year, after that 1X), 4X at U.S. supermarkets (up to $25,000 per year, after that 1X), 3X on flights booked directly with airlines or on AmexTravel.com, 2X on prepaid hotels and other eligible purchases booked on AmexTravel.com, and 1X on all other eligible purchases.

These benefits were enough for me to get the Amex Gold two years ago. While I like to think that I travel for history and culture, I mostly end up traveling for food. As a self-proclaimed travel foodie, this card allows me to fully indulge my culinary adventures both at home and abroad.

Learn more in our full American Express^® Gold Card review or our Capital One Venture versus Amex Gold comparison.

Chase Sapphire Preferred^® Card

The Chase Sapphire Preferred^® Card is another great travel card that has a comparable $95 annual fee to the Capital One Venture Rewards Credit Card(Rates and fees). Like the Venture card, rewards are easy to earn, and it offers a competitive welcome offer that lets you earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening.

Unlike the Venture card, the Chase Sapphire Preferred does without the Global Entry or TSA PreCheck® application credit and instead offers up to $50 in statement credits every account anniversary for hotel stays booked via Chase Travel.

The Sapphire Preferred also comes with bonus categories for certain types of spending that may help you rack up your travel rewards more quickly. You can earn 5X points on travel purchased through Chase Travel℠; 3X points on dining, select streaming services, and online groceries; 2X points on all other travel purchases, and 1X points on all other purchases.

Learn more in our full Chase Sapphire Preferred^® Card review or our Capital One Venture versus Chase Sapphire Preferred comparison.

FAQ

Capital One Venture Rewards review: bottom line

The Capital One Venture Rewards Credit Card(Rates and fees) packs a solid number of benefits for anyone looking to earn travel rewards with minimal effort. Its broad earning structure, valuable welcome offer, and lack of foreign transaction fees make it an excellent choice for frequent travelers as well as those who only take occasional trips.

While the $95 annual fee means there's a cost to having this card, its overall value, especially in terms of the Global Entry application credit, travel flexibility, and rewards potential, has consistently outweighed the yearly fee for me. This makes it a great starter travel card that strikes a balance between cost and benefits.

Ultimately though, I ended up opting for the Capital One Venture X over the Venture because It offers more comprehensive travel benefits, but at a higher annual fee. I travel frequently enough to get a ton of value from the Venture X, including its unlimited complimentary lounge access, $300 annual travel credits, and a solid anniversary bonus.

Two cards that I find comparable or complementary to the Venture are the Amex Gold and Chase Sapphire Preferred. The Amex Gold is a powerhouse for foodies with attractive earnings rates for relevant categories and up to $120 annual dining credits and up to $120 in Uber Cash each year. Meanwhile, the Sapphire Preferred offers a more robust lineup of bonus categories and up to $50 in annual statement credits for hotel stays booked through Chase Travel.

For more options, explore our list of best travel credit cards.

Easy-to-Earn Unlimited Rewards

Bank of America^® Travel Rewards credit card

Benefits

Card Details

• $0 annual fee
• Simple, flat-rate rewards
• Flexible redemption options
• Up to 75% preferred Rewards bonus potential
• Apply Now

• Earn unlimited 1.5 points per $1 spent on all purchases, with no annual fee and no foreign transaction fees and your points don't expire as long as your account remains open.
• 25,000 online bonus points after you make at least $1,000 in purchases in the first 90 days of account opening - that can be a $250 statement credit toward travel purchases.
• Use your card to book your trip how and where you want - you're not limited to specific websites with blackout dates or restrictions.
• Redeem points for a statement credit to pay for travel or dining purchases, such as flights, hotel stays, car and vacation rentals, baggage fees, and also at restaurants including takeout.
• 0% Intro APR for 15 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the Intro APR offer ends, a Variable APR that’s currently 18.49% - 28.49% will apply. A 3% Intro balance transfer fee will apply for the first 60 days your account is open. After the Intro balance transfer fee offer ends, the fee for future balance transfers is 4%.
• If you're a Bank of America Preferred Rewards® member, you can earn 25%-75% more points on every purchase. That means instead of earning an unlimited 1.5 points for every $1, you could earn 1.87-2.62 points for every $1 you spend on purchases.
• Contactless Cards - The security of a chip card, with the convenience of a tap.
• This online only offer may not be available if you leave this page or if you visit a Bank of America financial center. You can take advantage of this offer when you apply now.

4.1

FinanceBuzz writers and editors score cards based on a number of objective features as well as our expert editorial assessment. Our partners do not influence how we rate products.

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Intro Offer

Earn 25,000 online bonus points after you make at least $1,000 in purchases in the first 90 days of account opening - that can be a $250 statement credit toward travel purchases

Annual Fee

$0

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Why we like it

• The Bank of America^® Travel Rewards credit card is great for individuals who enjoy earning rewards and traveling.

• Cardholders will enjoy the flexibility to redeem points with no blackout dates and receive a statement credit to pay for travel and dining purchases.

• Earn 1.5X points on all purchases everywhere, every time.

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