Discover it® Miles vs. Capital One Venture Rewards Credit Card [2024]: Which Card Is Better?

CREDIT CARDS - TRAVEL CREDIT CARDS
The Discover it Miles has a $0 annual fee, but the Capital One Venture Rewards has better travel benefits.
Updated Feb. 13, 2024
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We recommend the Capital One Venture Rewards Credit Card for increased earning potential and access to more travel benefits.

However, if you want to earn travel rewards with a $0 annual fee, the Discover it® Miles card is also a strong option.

Let’s jump into our Discover it Miles vs. Capital One Venture Rewards Credit Card review to see which card makes the most sense for you.

In this article

Key takeaways

  • We recommend the Capital One Venture Rewards, even though it has a $95 annual fee, because it provides a better earning rate and plenty of travel benefits. Some of the travel perks include being able to transfer rewards to travel partners and receiving up to a $100 credit for Global Entry or TSA PreCheck once every four years.
  • Both the Discover it Miles and Capital One Venture Rewards earn travel rewards, but they’re vastly different cards.
  • The Discover it Miles makes sense if you want a $0 annual fee but still want the opportunity to earn and redeem travel rewards. It doesn’t offer much in terms of travel benefits, but it has intro APR offers and it’s an easy card to use.

Discover it Miles vs. Capital One Venture comparison

Discover it® Miles

Discover it® Miles

4.0

Capital One Venture Rewards Credit Card

Capital One Venture Rewards Credit Card

4.7

Card type Travel Travel
Credit card issuer Discover Capital One
Credit card network Discover Visa
Annual fee $0 $95
Welcome offer Discover will match all the Miles you’ve earned at the end of your first year. Earn a one-time bonus of 75,000 miles once you spend $4,000 on purchases within 3 months from account opening
Earning rate Automatically earn unlimited 1.5x Miles on every dollar of every purchase 2 miles per dollar on every purchase, every day and 5 miles per dollar on hotels and rental cars booked through Capital One Travel
Redemption methods
  • Statement credit
  • Bank account deposit
  • Cover past travel purchases
  • Pay with miles at select merchants (Amazon and PayPal)
  • Travel through Capital One Travel
  • Cover past travel purchases
  • Transfer miles to travel partners
  • Account credits
  • Mailed checks
  • Gift cards
  • Paying for Amazon purchases
  • Making eligible purchases with PayPal
Intro APR 0% intro APR for 15 months on purchases (then 17.24% - 28.24% Variable)

0% intro APR for 15 months on balance transfers (then 17.24% - 28.24% Variable)

None
Annual credits None None
Travel perks None
  • Up to a $100 credit for Global Entry or TSA PreCheck once every four years
  • Two complimentary visits per year to Capital One Lounges or Plaza Premium Lounges (use by 12/31/24)
Other benefits
  • Online privacy protection
  • Rental car insurance
  • Travel assistance services1
Foreign transaction fee 0% None
Credit needed Excellent, Good Excellent, Good
Read full review Read full review

Our verdict

  • We recommend the Capital One Venture for a better rewards rate and more travel benefits. We think the Discover it Miles Card makes sense if you want a travel rewards card with a $0 annual fee.

Discover it Miles benefits and drawbacks

Pros
  • $0 annual fee
  • Simple rewards rate
  • No foreign transaction fees
Cons
  • Little to no travel benefits
  • No bonus categories

The Discover it Miles has a $0 annual fee and 0% foreign transaction fees. With this card, you can automatically earn unlimited 1.5x Miles on every dollar of every purchase.

The Discover it Miles doesn’t provide much in terms of travel benefits other than being able to cover past travel purchases with your rewards. But you can take advantage of these intro APR offers.

  • Intro APR on purchases: 0% intro APR for 15 months on purchases (then 17.24% - 28.24% Variable)
  • Intro APR on balance transfers: 0% intro APR for 15 months on balance transfers (then 17.24% - 28.24% Variable) (Note that there is a 3% intro balance transfer fee, up to 5% fee on future balance transfers (see terms) balance transfer fee)

Read our Discover it Miles review

Capital One Venture benefits and drawbacks

Pros
  • Simple rewards rate
  • Multiple travel benefits
  • No foreign transaction fees
Cons
  • $95 annual fee

The Capital One Venture has a $95 annual fee and no foreign transaction fees. Cardholders can earn two 2 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 Venture doesn’t provide intro APR offers, but you can take advantage of these travel perks and benefits.

  • Reward transfers to travel partner loyalty programs
  • Up to a $100 credit for Global Entry or TSA PreCheck once every four years
  • Two complimentary visits per year to Capital One Lounges or Plaza Premium airport lounges (use by 12/31/24)

Read our Capital One Venture review

Where both cards excel

  • Travel rewards: As travel credit cards, both the Discover it Miles and Capital One Venture provide opportunities to earn travel rewards on eligible purchases.
  • Welcome offers: You can earn a generous welcome offer with either card as a new cardholder.
  • No foreign transaction fees: You don’t have to worry about foreign transaction fees with either the Discover it Miles or Capital One Venture.

7 important differences between Discover it Miles and Capital One Venture

1. Earning potential

With the Discover it Miles, you can automatically earn unlimited 1.5x Miles on every dollar of every purchase.

The Capital One Venture provides two 2 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 Venture Rewards has a higher rewards rate, which can result in more rewards for the same purchases. In general, many Capital One credit cards provide excellent rewards rates to cardmembers.

Winner: Capital One Venture wins because it has a better rewards rate.

2. Annual fees

The Discover it Miles has a $0 annual fee, while the Capital One Venture has a $95 annual fee. On annual costs alone, the Discover it Miles is the better option.

Winner: Discover it Miles because it has a $0 annual fee.

3. Redemption options

The Discover it Miles has these redemption options.

  • Statement credit
  • Bank deposit
  • Cover past travel purchases
  • Pay with miles at select merchants (Amazon and PayPal)

The Capital One Venture has these redemption options.

  • Travel through Capital One Travel
  • Cover past travel purchases
  • Transfer partners
  • Account credits
  • Mailed checks
  • Gift cards
  • Paying for Amazon purchases
  • Making eligible purchases with PayPal

The Capital One Venture Rewards provides a lot more flexibility with its rewards program because you can choose from various redemption options. The Discover it Miles has a decent rewards structure, but it can’t quite match the Capital One Venture for redeeming miles toward travel.

Winner: Capital One Venture because it provides more redemption options, including more travel-related redemptions.

4. Travel benefits

The Discover it Miles doesn’t provide many travel benefits. You can earn travel rewards on purchases, and you can redeem your rewards to cover past travel purchases. There are also no foreign transaction fees. But there’s not much else beyond these common benefits.

With the Capital One Venture, you get the same things and these additional benefits.

  • Transfers to travel partners as a redemption option
  • Up to a $100 credit for Global Entry or TSA PreCheck once every four years
  • Two complimentary visits per year to Capital One Lounges or Plaza Premium Lounges (use by 12/31/24)

If you want more travel benefits, the Capital One Venture is the better option.

Winner: Capital One Venture because it has more travel benefits.

5. Card protections

The Discover it Miles provides very little in terms of card protections, basically only providing online privacy protection. This is a benefit for removing your personal information from certain websites that could sell your data.

It’s an interesting benefit, but not completely necessary since it’s something you could do on your own if you wanted to.

With the Capital One Venture, you could be eligible for these protection and insurance benefits.

  • Extended warranty protection
  • Auto rental collision damage waiver
  • Travel accident insurance
  • 24-hour travel assistance services1

Winner: Capital One Venture comes out on top because you could be eligible for more protection benefits.

6. Introductory APR offers

The Discover it Miles, similar to many other Discover credit cards, has multiple intro APR offers. They include:

  • Intro APR on purchases: 0% intro APR for 15 months on purchases (then 17.24% - 28.24% Variable)
  • Intro APR on balance transfers: 0% intro APR for 15 months on balance transfers (then 17.24% - 28.24% Variable) (Note that there is a 3% intro balance transfer fee, up to 5% fee on future balance transfers (see terms) balance transfer fee.)

The Capital One Venture Rewards doesn’t provide intro APR offers.

Winner: Discover it Miles because it has excellent intro APR offers.

7. Card networks

The Discover it Miles uses the Discover card network to process payments. Discover is widely accepted in the U.S., but it doesn’t have as much international acceptance.

The Capital One Venture uses the Visa network, which is accepted just about everywhere credit cards are welcomed worldwide. For example, you can use Visa cards in over 200 countries and territories worldwide.

The card network isn’t too important if you don’t plan on traveling abroad. But if you do, Visa is better than Discover.

Winner: Capital One Venture wins because it has more worldwide acceptance on the Visa network.

Which credit card should you choose?

When you should choose Discover it Miles

  • You already have a relationship with Discover
  • You want a $0 annual fee
  • You want to take advantage of intro APR offers

When you should choose Capital One Venture

  • You already have a relationship with Capital One
  • You want a better rewards rate
  • You want more travel benefits

Factors to consider before choosing

Choosing between the Discover it Miles and Capital One Venture primarily comes down to answering a few questions.

  • Are you concerned about annual fees? The Discover it Miles has a $0 annual fee.
  • Do you want introductory APR offers? The Discover it Miles is the better option.
  • Do you want an excellent and simple rewards rate? The Capital One Venture is the better option.
  • Do you want multiple travel benefits? The Capital One Venture is the better option.

FAQ

What is the difference between Discover it® Cash Back and Discover it® Miles?

The Discover it® Cash Back earns cashback rewards on eligible purchases, while the Discover it Miles earns travel rewards. They also have different rewards rates and a few different redemption options. Apart from these differences, they share largely the same features and benefits.

Is the Capital One Venture card good for travel rewards?

Yes, it's an excellent card for earning straightforward travel rewards. With its simple rate, you can earn two 2 miles per dollar on every purchase, every day and 5 miles per dollar on hotels and rental cars booked through Capital One Travel. Travel redemptions include covering past travel purchases, booking travel through Capital One Travel, and transferring rewards to travel partners.

What is the equivalent of Capital One miles?

Capital One miles are typically worth one cent per mile. For example, 10,000 Capital One miles are worth $100 for some of the most common redemptions, such as covering past travel purchases and booking travel through Capital One Travel.

Certain redemptions offer a lower redemption value. If you were to redeem 10,000 miles for cash back in the form of an account credit or mailed check, you would only receive $50.

Discover it Miles vs. Capital One Venture: bottom line

We recommend the Capital One Venture Rewards over the Discover it Miles as it has more earning potential and additional travel benefits. But the Discover it Miles is a solid option if you prefer a $0 annual fee and intro APR offers.

For more of our top recommendations, compare credit cards to find the right credit card offer for you.

Earn 2 Times the Miles in Your 1st Year

4.0

Discover it® Miles

Current Offer

Discover will match all the Miles you’ve earned at the end of your first year.

Annual Fee

$0

Rewards Rate

Automatically earn unlimited 1.5x Miles on every dollar of every purchase

Benefits and Drawbacks
Card Details

Author Details

Ben Walker, CEPF, CFEI® Ben Walker, CEPF, CFEI®, is a Senior Credit Cards Writer at FinanceBuzz. For over a decade, he's leveraged credit card points and miles to travel the world. His expertise extends to other areas of personal finance — including loans, insurance, investing, and real estate — and you can find his insights on The Washington Post, Debt.com, Yahoo! Finance, and Fox Business.

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