Capital One offers a wide range of credit cards, each with different benefits. For the newcomer to cards, the choice can be confusing! One card you can’t go wrong with is the fee-free VentureOne Card. This article will highlight the benefits of this card and explain why it’s one of the top choices as a starter credit card.
Basics of the Capital One® VentureOne® Rewards Credit Card – No fee and great 0% offer
The Capital One® VentureOne® Rewards Credit Card is a simple and free card. There is no annual fee, and it offers a typical APR of between 14.24 and 24.24 percent.
There is also an introductory zero percent APR on purchases with the card for the first 12 months. This is a great offer for a free card – and makes the card especially appealing to anyone planning a large purchase.
A good sign up bonus for low initial spending
There is a welcome bonus for new cardholders of 20,000 Venture Miles when you spend $1,000 within the first three months. For a no-fee card, this is one of the best bonuses available. This is worth at least $200 and maybe more.
No overseas fees
The Capital One® VentureOne® Rewards Credit Card is well suited to anyone who travels. Any good travel credit card should offer fee-free use overseas, in our opinion. And the VentureOne card does! You will pay no additional fee to use the cards for purchases overseas, or online in foreign currency.
Many other cards charge a fee of around three percent for such purchases, so the savings here can really add up when you travel. Note though that the zero fee does not apply to cash withdrawals from ATMs – Capital One will charge a fee for this.
Earn Venture Miles with all spending
Many fee free or starter cards earn cashback. This can be good in some ways – it is simple to earn and understand what you are getting. But to get better value rewards, points and miles earning is the way to go. The Capital One® VentureOne® Rewards Credit Card participates in the Capital One Venture Miles scheme – awarding miles for all spending.
This is a great way to get further into miles and points earning! And again, very appealing for the frequent traveler. Venture Miles once earned can be used to book travel or transferred to airline partners for potentially better value.
Miles are earned at a fixed rate of 1.25 Venture Miles per dollar spent. This applies both in the US and overseas – and with no foreign exchange fees, there is a great chance to build up miles when you travel.
There are no complicated categories to think about when spending – the earning rate is the same for all areas. There is one great bonus offer running currently on the card – for 10 miles per dollar on all spending at Hotels.com. This is a great rate for anyone who can make bookings this way. And you can also earn rewards separately with the hotels.com own loyalty program.
Spending Venture Miles – worth at least one cent per mile
Earning Venture Miles with the card is great, but you also need to be able to spend them! The VentureOne card offers several options for this, including:
- Redeeming for cash (as a statement credit) at the rate of 0.5 cents per mile
- Using to offset any recent travel-related purchases (or make new travel purchases) at the much better rate of one cent per mile
- Purchasing gift cards, typically at the rate of one cent per point but sometimes less
- Transferring miles to an airline partner loyalty scheme
You can always rely on getting fixed value of one cent per mile when redeeming – but with airline transfers, you can easily exceed this.
For full details of all the ways to spend miles, and how to get the best value, see our guide to spending Capital One Venture Miles.
Transferring Venture Miles to airline partners
The way to get maximum value from Venture Miles is to transfer them to partner airline programs and redeem within these programs for flight tickets. The value here varies widely, but it is possible to get some excellent value – especially when using for business or first class tickets, or booking expensive last minute tickets.
This option was added to Venture Rewards in 2018 and has, in our opinion, made it a much more attractive rewards program. There are currently 14 airline loyalty program partners:
- Aeromexico Club Premier
- Air Canada Aeroplan
- Air France / KLM Flying Blue
- Alitalia MilleMiglia
- Avianca LifeMiles
- Emirates Skywards
- 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
This is a great set of partners, including some normally hard to access carriers like Singapore Airlines and Emirates. The lack of a major US-based airline included as a transfer partner is a bit of a limitation, but this can be overcome to a certain extent as they are included as partners of other airlines for issuing awards.
Most of these partners offer mileage transfer at a rate of 2:1.5 (so 10,000 Venture Miles would become 7,500 airline miles). Miles to Emirates Skywards and Singapore Airlines KrisFlyer transfer at a rate of 2:1.
Booking premium awards
There are plenty of ways to get great value from these transfers; for more ideas see out guide. A couple of our favorites options are premium tickets booked by transferring to Singapore Airlines KrisFlyer or Cathay Pacific Asia Miles.
KrisFlyer gives access to the excellent first class and suite products with Singapore Airlines. First class rates between New York and Singapore, for example, start at 132,000 KrisFlyer miles one way.
Asia Miles allows booking with Cathay Pacific (and its excellent business and first class products) as well as all of the OneWorld airlines. Most tickets allow a stopover, allowing even more value by enjoying an extra break or combining flights.
Auto cover, insurance and other benefits
The Capital One® VentureOne® Rewards Credit Card comes with much more than just miles earning. For full details of all the extras offered, check the Capital One website. Benefits and cover are not as extensive as with some fee-based cards but are good for a no-fee card. Some of these can depend on whether you receive a Visa Signature or a Visa Platinum card – check when you apply.
Some of the main benefits include:
- Free Collision Damage Waiver. Whenever you rent a car, in the US or overseas, and pay with the card you will receive free Collision Damage Waiver cover, covering vehicle damage or theft.
- Travel Accident Insurance. This covers personal injury when traveling with the main carrier when booked using the card.
- Extended Warranty. For purchases with the card, a warranty extension is offered for original warranties of three years or less from a US manufacturer.
The Capital One® VentureOne® Rewards Credit Card is a great starter credit card. There is no annual fee, an easy to reach bonus for initial spending and a decent level of rewards offered. It is well suited to the lower spender, who would not necessarily benefit from higher rewards levels offered by other cards.
It is also a good card for regular travelers. There are no foreign exchange fees when using the card abroad, and the bonus earnings for hotels.com is a great feature. And we really like that it earns Venture Miles rather than direct cashback. This allows you to explore the benefits of using it for airline awards, whilst still retaining the option for fixed value redemption.
Of course, there are other cards available that earn better rewards and offer more benefits, but these tend to have an annual fee. There is no reason you can’t get one of these once your spending increases or you can make more use of premium benefits. For some idea, take a look at the Capital One Venture Rewards card or other great Capital One cards.
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