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The Capital One® Venture® Rewards Credit Card is one of our favorite travel rewards cards. It is simple to use and offers excellent rewards and travel benefits. Capital One have improved the offer recently with a great bonus from hotels.com and the option to transfer miles to several airline mileage programs. This articles highlights 20 of the top benefits of using the card – plenty of reasons to consider making it your next travel card!
1. The card features a low annual fee
The annual fee for the Capital One® Venture® Rewards Credit Card is just $95 a year. For what you get with this card – high rewards earning, an excellent sign up bonus, and many extra travel benefits – this is a great deal.
2. Annual fee waived for the first year
And to make the annual fee even better, it is waived for the first year! So there is no cost to try the card out, and enjoy the rewards and benefits for twelve months. You can then decide whether to continue using the card with the annual fee, or perhaps change to the fee free Venture One card.
3. No foreign transaction fees for spending overseas
There are no foreign exchange fees when the card is used for purchases overseas, or in foreign currency online. This is a great money saving benefit for travelers, as many cards charge a fee of around 3% for such foreign currency transactions. Fees will apply, however, for overseas ATM withdrawals.
4. Excellent sign up bonus, worth at least $500
The Capital One® Venture® Rewards Credit Cardoffers a great sign up bonus for new applicants. This gives 50,000 Venture Miles for initial spending of $3,000 within the first three months. This is equivalent to $500 when used as a travel credit rebate, and potentially more if used for high value airline awards. This is one of the best rewards (certainly for this annual fee) on the market.
5. Ongoing earning of two miles per dollar on all card spend
The Venture Rewards Card offers a simple earnings rate of two Venture Miles per dollar for all spend on the card. This applies to all categories of spending. There are no confusing different earnings rates for different types of transaction, as is common with many other cards.
6. Earn bonus miles with hotels.com
There is an excellent bonus offer for cardholders to earn 10 Venture Miles per dollar spent on accommodation with hotels.com. This needs to be booked through a dedicated link and paid for with the card. This promotion is currently scheduled to run until January 2020, and is a great opportunity for anyone able to make their travel accommodation bookings this way.
7. Participate in hotels.com loyalty scheme for even more rewards
Cardholders using the hotels.com Venture Miles card bonus are also entitled to earn rewards in the hotels.com own loyalty program. This makes stays even more rewarding!
The hotels.com rewards program offers one night free when you book any 10 through hotels.com (the value of the free night is the average amount for the 10 paid bookings). Combined together this means cardholders can earn a massive 20% rebate on their hotel stays – an excellent offer!
8. No limit to the amount of miles that can be earned
Capital One do not place a limit on the amount of miles that can be earned with the Venture Rewards Card. With 10 miles per dollar at hotels.com and two miles per dollar everywhere else, you can earn as many miles as you spend each month!
9. Simple to use card and rewards scheme
One of the great things about the Capital One® Venture® Rewards Credit Card and the Venture Miles program is their simplicity.
Miles are earned at the same (high) rate of two miles per dollar on all spending, in the US and overseas. And redeeming is straightforward through the Venture Miles website, again at a simple guaranteed rate.
It’s an easy system – perfect for those new to miles and points earning. But also very rewarding for the more experienced user too.
10. Redeem miles for a fixed value of one cent per mile
Venture Miles can be used to pay for travel at a fixed rate of one cent per mile. This effectively means you are getting a 2%rebate on all your spending.
This can be done in two ways:
- Through the Capital One travel portal, to purchase a variety of flights or hotels
- By ‘erasing’ any previous travel purchase made with the card. Using the Venture Miles website you can select any purchase made within the last 90 days and use miles to remove it, at the rate of one cent per mile.
11. Use miles for any type of travel booked anywhere
Using the ‘Purchase Eraser’ option to receive a credit for any previous travel purchase is a great way to redeem miles. This can be used for any type of travel purchase, including flights, hotels, purchases through online travel agents, car hire, Uber rentals and even many taxis and public transportation.
You can book how you prefer – direct with providers or through your favorite booking website. And of course you can earn any extra rewards or benefits that they offer. As long as it posts on your credit card statement as a travel purchase, it will be valid.
12. Option to convert miles to cashback if you need it
Capital One provides the option to convert Venture Miles directly into cashback. This is at a lower rate of 0.5 cents per mile. In most cases this is not worth it; you can get double this rate by using miles for any travel purchase! But, it remains a good backup option to use your miles if you really have no travel purchases.
13. Transfer miles to airline partners to increase their value
Venture Miles can be transferred to one of 15 airline partners mileage programs. This is a new option added in 2018 that has, in our opinion, greatly enhanced the Venture Miles program. Miles can be transferred to the following airline schemes:
- Aeromexico Club Premier
- Air Canada Aeroplan
- Air France / KLM Flying Blue
- Alitalia MileMiglia
- Avianca LifeMiles
- Emirates Skywards
- JetBlue TrueBlue
- Finnair Plus
- Cathay Pacific AsiaMiles
- Singapore Airlines KrisFlyer
- Etihad Guest
- EVA Air Infinity MileageLands
- Hainan Airlines Fortune Wings Club
- Qantas Club
- Qatar Airways Privilege Club
Most transfers are at a rate of 2:1.5 (so 10,000 Venture miles would transfer to 7,500 airline miles). Exceptions to this include Emirates Skywards and Singapore KrisFlyer (both transfer at 2:1).
Transfers are possible starting at 1,000 miles and then in increments of 100 miles. Once miles are with an airline scheme, they can be combined with any miles earned elsewhere and used to purchase airline awards with that airline or any of its partners.
Depending on the award ticket chosen, the value of Venture Miles can vary widely when used this way. But used carefully you can get some great value here compared to the cash purchase price of tickets. Certainly in many cases, better than one cent per mile.
14. Access luxurious award travel for great rates
Transferring miles to partner airlines opens up a lot of options for award tickets. For more details on possibilities and some inspiration for the awards you could book, see our complete guide to redeeming Capital One Venture Miles.
Generally, the best value for your miles is achieved when booking for expensive last minute tickets, international flights in expensive regions such as Asia, Africa or South America, or premium travel in Business or First Class cabins. Partners with Venture Miles provide easy access to Business and First Class seats with many great airlines such as Emirates, Cathay Pacific and Singapore Airlines.
15. Miles won’t expire for the life of the account
Once earned, Venture Miles do not expire as long as the account remains open. This sounds simple, but it’s actually a useful benefit!
Many other airline or hotel loyalty schemes have often confusing rules on points expiration – sometimes they expire a fixed time after being earned, and sometimes if there is no account activity for a certain period. Keeping track of this can be complicated, and it is easy to forget and lose your points! With Venture Miles, just keep the account open and the miles will still be there!
16. Get a $100 credit for Global Entry or TSA PreCheck application
There are other great travel benefits that come with the card aside from just miles earning. One of these is a $100 credit when you apply for the Global Entry or TSA PreCheck schemes.
This can be used once every four years, and not necessarily just for the card holder. These are great programs which will really help out the frequent traveler, and most cardholders should have no problem making use of this benefit.
This is a benefit normally offered with higher cost cards (such as the excellent Chase Sapphire Reserve card), and is especially good value here for the low annual fee.
17. Travel protection and lost luggage insurance provided
You never know when accidents might happen, and the Capital One® Venture® Rewards Credit Card will cover personal loss and injury for travel paid with the card (up to $250,000).
Luggage is also protected up to $3,000 if lost or mishandled by the carrier, when the trip is paid with the card. This is offered as a top up to any cover given by the transport carrier and can certainly help limit any major losses that the carrier might not cover in full.
18. Collision Damage Waiver included with car rental
If you use the Venture Rewards Card to pay for car rental, it will automatically provide you with Collision Damage Waiver cover for damage or theft. This can save the cost of paying extra for this with car rental companies. But as with any insurance, you should make sure this is sufficient for your needs
19. Extended warranty on purchases made with the card
Extended warranty cover is an often overlooked, but very useful benefit. Any purchase with the card is eligible for extended warranty protection that doubles the manufacturer’s warranty. This is valid on warranties with an original length of three years or less, for an extension up to one year. Claims are possible up to $10,000 per claim and $50,000 per cardholder.
20. Enjoy Concierge and event access benefits
The Capital One® Venture® Rewards Credit Card is also a Visa Signature card, which comes with some extra travel benefits. These include access to a Visa Signature concierge service, and some good discounts and perks staying at Visa Signature Luxury Collection hotel properties.
In addition, the Capital One access program offers unique access and bookings for events (such as dining, music and sports events) and VIP access benefits. These are available to holders of all Capital One cards. For more details on the inclusions and event possibilities with this, see the Capital One website.
Notice: These responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.