The no-annual-fee Capital One VentureOne Rewards Credit Card (see rates and fees) offers the same great redemption options as its sister cards, the Capital One Venture Rewards Credit Card and the Capital One Venture X Rewards Credit Card — but with a lower rewards rate and fewer perks. The miles earned on the card can be transferred to Capital One’s 15-plus airline and hotel partners or redeemed directly as a statement credit on eligible purchases.
Card rating is based on the opinion of TPG’s editors and is not influenced by the card issuer.
No matter which card from the Capital One Venture family you choose, all three options offer simple earnings structures, 15-plus airline and hotel transfer partners, and easy-to-use rewards. For those who prefer a straightforward option for earning and redeeming rewards, you can also use your miles to “pay” back travel purchases charged to your card in the past 90 days.
Recommendation: TPG recommends a credit score of 670 or higher for this card.
If you’re unsure about paying an annual fee, consider the Capital One VentureOne Rewards Credit Card.
Key Features and Benefits
| Feature | Details |
|---|---|
| Annual Fee | None (see rates and fees) |
| Welcome Offer | 20,000 bonus miles after spending $500 in the first three months |
| Earning Rates | – 1.25 miles per dollar on everyday purchases |
| – 5 miles per dollar on hotels and rental cars booked through the Capital One travel portal | |
| Redemption Options | – Transfer to 15+ airline and hotel partners |
| – Redeem as statement credit on eligible purchases | |
| Key Benefits | – No annual fee |
| – No foreign transaction fees (see rates and fees) | |
| – Extra miles on Capital One travel portal bookings | |
| – World Elite Mastercard benefits (travel and emergency assistance, auto rental insurance, extended warranty) | |
| Pros | – No annual fee |
| – Solid earning rates | |
| – Access to Capital One transfer partners | |
| – World Elite Mastercard benefits | |
| – No foreign transaction fees (see rates and fees) | |
| Cons | – Low welcome bonus |
| – No lounge access | |
| – Better earnings rates available with other cards | |
| Credit Score Requirement | 670 or higher |
| Sign-Up Bonus Value | $370 (20,000 miles valued at 1.85 cents each by TPG) |
| Competitor Comparison | – Citi Double Cash® Card: 2% cash back on every purchase |
| – Chase Freedom Unlimited®: 5% on travel, 3% on dining and drugstores, 1.5% on other purchases | |
| – Capital One Venture Rewards: 2 miles per dollar on everyday purchases, $95 annual fee (see rates and fees) |
Pros and Cons
Pros:
- No annual fee (see rates and fees)
- Solid earning rates
- Extra miles when booking travel through the Capital One portal
- Access to Capital One transfer partners
- World Elite Mastercard travel and shopping benefits
- No foreign transaction fees (see rates and fees)
Cons:
- Low welcome bonus
- No lounge access
- Better earnings rates with other Capital One and no-annual-fee cards
Welcome Offer
The Capital One VentureOne Rewards card comes with a sign-up bonus of 20,000 bonus miles once you spend $500 within the first three months from account opening. Based on TPG valuations that peg Capital One Venture miles at 1.85 cents apiece, this sign-up bonus is worth $370.
- Comparison: This is significantly less than the Venture card’s bonus, which is currently 75,000 miles after spending $4,000 on purchases within the first three months, valued at $1,388 by TPG.
- Ease of Qualification: The 20,000-mile bonus is higher than what many other no-annual-fee cards offer and requires only $500 in spending to qualify, making it accessible to more users.
Benefits
The VentureOne card comes with a standard suite of World Elite Mastercard travel and shopping benefits, including:
- Travel and Emergency Assistance
- Auto Rental Insurance
- Extended Warranty
Additionally, the VentureOne is among the few no-annual-fee cards with no foreign transaction fees (see rates and fees), making it a great option for use outside the U.S. Benefits are available to accounts approved for the World Elite Mastercard card, with terms applying.
Earning Miles on the Capital One VentureOne
The VentureOne earning scheme is similar to the $95-a-year Venture card (see rates and fees) but with a slightly lower return on everyday spending.
- Everyday Purchases: Earn a flat 1.25 miles per dollar on everyday purchases, equating to a solid 2.33% return using TPG valuations.
- Travel Bookings: Earn 5 miles per dollar on hotels and rental cars booked through the Capital One travel portal, providing a 9.25% return.
Redeeming Miles on the Capital One VentureOne
You have a few options when it comes to redeeming Venture miles:
- Statement Credit: The most straightforward way is to use miles to pay for eligible purchases as a statement credit, redeeming miles at a flat 1 cent apiece for travel purchases made in the last 90 days.
- Transfer Partners: To get more value, transfer your miles to one of Capital One’s 15-plus airline and hotel partners, including Avianca LifeMiles, British Airways Executive Club, Etihad Guest, and Turkish Airlines Miles&Smiles.
Comparison with Competitors
Several no-annual-fee cards compete with the VentureOne, each offering unique advantages:
- Citi Double Cash® Card:
- Earnings: 2% cash back on every purchase — 1% when you make the purchase and another 1% when you pay it off.
- Advantages: Better earning rate and ability to convert cash back to ThankYou Points with an eligible card.
- Chase Freedom Unlimited®:
- Earnings: 5% on travel purchased through Chase Travel℠, 3% on dining and drugstore purchases, and 1.5% on all other purchases.
- Advantages: Higher earning rates and potential for point transfers to Chase’s travel partners.
- Capital One Venture Rewards:
- Earnings: 2 miles per dollar on everyday purchases, plus up to $100 Global Entry/TSA PreCheck application fee credit.
- Annual Fee: $95 (see rates and fees).
- Advantages: Higher earn rate and additional travel perks.
