The Capital One® VentureOne® Rewards Credit Card is a great introductory credit card. Besides having no annual fee, there are plenty more reasons to sign up. This articles highlights 10 of these and shows why this a great card for the lower spending regular traveler. For more on the card see our short guide.
1. An excellent sign-up bonus
Many cards reward new cardholders with a welcome bonus. For a free card, the offering from the Capital One® VentureOne® Rewards Credit Card is particularly good.
The card offers a welcome bonus of 20,000 Venture Miles when you spend $1,000 within the first three months. This is worth at least $200 when redeemed for travel purchases, perhaps more if transferred to airline partners.
2. Zero per cent APR introductory offer
As well as the sign up bonus, the Capital One® VentureOne® Rewards Credit Card offers another great introductory bonus. All purchases for the first 12 months are interest-free – a great zero percent APR offer. At the end of the 12 month period, the APR will revert to the card’s standard APR of between 14.24 and 24.24 percent.
This can save a lot in interest payments if you plan to carry a balance and is a great way to spread the cost of any large purchases. This is an attractive offer, especially for a fee-free card, and is something that is not offered by the competing Venture Rewards card.
3. No foreign currency transaction fees for purchases
Ant good travel credit card should offer fee free use overseas – and the Capital One® VentureOne® Rewards Credit Card does! You will pay no additional fee to use the card 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.
4. Opportunity to earn Capital One Venture Miles
The Capital One® VentureOne® Rewards Credit Card awards Venture Miles for all purchases. This is at the rate of 1.25 miles per dollar for all spending, both at home and overseas. There are no confusing different rates for certain types of spending.
Miles earning is a great alternative to earning cashback, and the frequent traveler can really benefit from this. You still have the option to use the miles for travel purchases or cashback, but they can also be transferred to airlines for potentially greater value.
5. Earn bonus miles with Hotels.com
There is one major bonus offered as an exception to the standard earning rate. You can earn a massive 10 miles per dollar on all accommodation spending with hotels.com.
This needs to be booked via a special link and paid for with the card. For anyone who travels regularly, and can book hotels this way, this can be very lucrative. Even more so as the miles bonus can be earned alongside additional rewards through the hotels.com rewards program!
6. Spend miles at a simple fixed value rate
Venture Miles can be redeemed for travel related purchases at a fixed rate of one cent per mile. This can be done in a couple of ways:
- By ‘erasing’ any previous travel purchase made within the last 90 days. This is done by simply selecting the purchases on the card website and using miles for an equivalent statement credit.
- By booking travel through the Capital One booking portal. There are plenty of options for flights and hotels here, but as the rate is the same, it is more flexible to use the statement credit option.
There is also the option to redeem Venture Miles directly for cashback. This is at a lower rate, however, of 0.5 cents per point, so is not recommended. It’s still good to see this available as an option, so you can get cashback if you have no relevant travel spend, or just want to keep things really simple.
7. Access good value flight rewards through airline partners
Venture Miles can also be transferred to the loyalty programs of 14 partner airlines. Miles can then be used to book awards with these airlines, or indeed any airlines in their extensive partner networks. This is, in our opinion, a great feature for a starter card, getting you more used to the miles world and the options and value possible with these transfers.
Miles can be transferred to 14 partner airline programs:
- Aeromexico Club Premier
- Air Canada Aeroplan
- Air France / KLM Flying Blue
- Alitalia MileMiglia
- 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
Most of these partners offer mileage transfer at a rate of 2:1.5 (so 10,000 Venture Reward miles would become 7,500 airline miles). Miles to Emirates Skywards and Singapore Airlines KrisFlyer transfer at a rate of 2:1.
8. Book excellent value flight awards with Venture Miles
Transferring Venture Miles to airline mileage programs gives access to all those program redemption options. With 14 airlines and all their additional partners that can be booked, there is plenty of choice.
A couple of our favorite good value options include the following (for more see our guide to spending Venture Miles):
Book short-haul US flights using Qantas Club miles: Domestic flights on key routes, or booked last minute, can be expensive. If there is award availability this can be great value use. Unfortunately, there is no major US airline partner with Venture Miles, but there are several ways to book US airlines as a partner of other airlines. One of the best options is booking American Airlines awards via Qantas Club. Short haul flights within the US start at just 8,000 Qantas miles each way in economy, and to/from Hawaii they start at 22,500 miles.
Experience luxury flying with Singapore Airlines: The first class suite product from Singapore Airlines is one of the most luxurious flying options around. This can usually only be booked as a reward through the KrisFlyer program – which of course is a Venture Miles transfer partner! Rates for first class from New York to Singapore start at 132,000 miles.
9. Save money on car rentals with free Collision Damage Waiver
Whenever you rent a car and pay with the Capital One® VentureOne® Rewards Credit Card, you will receive free Collision Damage Waiver cover. This applies to rentals both in the US and overseas and will cover theft and damage.
Having this cover allows you to decline any such additional cover from the rental company – a great money saving benefit, and another reason why this is a great card for regular travelers.
10. Benefit from extended warranty on eligible purchases
The Capital One® VentureOne® Rewards Credit Card will provide a warranty extension for eligible purchases made with the card. This is offered for original warranties of three years or less from a US manufacturer.
There are some other included benefits with the card such as travel accident insurance and purchase protection (only for some cardholders). Check the Capital One website for full details of these. Benefits and cover are not as extensive as with some fee-based cards, but are good for a no-fee card! Of course, many will use this card as the first step into rewards-earning credit cards – the next one you choose may include many more such benefits!