Capital One VentureOne Card Review

Frequent flyers looking to round out their rewards-earning game may want to consider the VentureOne card. Unlike some of its no-annual-fee competitors, the VentureOne card lets you transfer your miles to select airline frequent flyer programs. So, if you usually fly on one of Capital One’s travel partners, and you’re looking for a card to supplement your miles earnings, the VentureOne card may be a good fit for you.

Pros Explained

• Simple and predictable rewards: You won’t earn a lot of miles, but you won’t ever be left guessing about it, either. You earn 1.25 miles per $1 spent. If you charge $500, you can earn 650 miles.
• Miles transfer to airline partners: The VentureOne card is one of the few no-annual-fee travel cards that let you transfer miles to partner airline frequent flyer programs.
• Easy-to-get bonus for new cardholders: We also like that the VentureOne card offers a generous welcome bonus, but doesn’t require a ton of spending to get it. You just need to charge $500 before your card’s three-month anniversary to get 20,000 bonus miles, which are worth at least $200.

Cons Explained

• Limited U.S. travel partners: Capital One’s list of domestic airline transfer partners is also severely limited. JetBlue is currently the only domestic airline that partners with Capital One. That said, Capital One does partner with several large foreign airlines, such as Air France and Emirates.

Capital One VentureOne Card Bonus for New Cardholders

If you spend $500 within the first three months of having the card (about $167 a month), you’ll earn 20,000 bonus miles. That’s worth $200 in past travel purchases (more on that later) or $204 when transferred to a Capital One domestic airline partner, which is pretty good for a no-annual-fee travel-rewards card.

That said, it's not the most generous promotion available, so you may wish to shop around.

Earning Points and Rewards

Earnings rewards through the VentureOne card is simple: You get an unlimited 1.25 miles for every $1 that you spend. That can add up quickly. If you charge $1,000 a month, you’ll earn $150 worth of travel by the end of the year.

However, if earning travel-related points or miles isn’t your main goal, you can almost certainly do better by looking at other cards that offer better rewards—1.5 points per $1 spent or 2% cash back are common.

A benefit of owning this card is that you don’t have to rush to redeem your rewards. Capital One miles don’t expire as long as your account remains open. You will forfeit your rewards, though, if you or Capital One closes your account.

Redeeming Rewards

Capital One also makes it easy to redeem your rewards. If you decide to redeem your rewards for travel, you have two fairly simple options. You can purchase travel yourself and then use Capital One’s “Purchase Eraser” tool to “erase” the purchases from your credit card statement. Note that you must use Purchase Eraser within 90 days of your purchase.

Also, you can use your rewards miles to pay for travel that you have booked through Capital One’s rewards center. Travel purchases that you can purchase directly with rewards include hotel rooms, car rentals, and airfare.

In addition, you can transfer your miles to any of Capital One’s 13 airline partners. Your miles are worth 1.07 cents with JetBlue, your only domestic airline option. With rewards cards, the goal is to get at least 1 cent of value for every point or mile you redeem.

You can also redeem Capital One miles for gift cards (0.8 cents per mile) and cash back (0.5 cent per mile). Finally, you can use your miles to cover charges at Amazon.com, although redemption values may vary.

How to Get the Most out of This Card

Use your card for everyday purchases and spend your miles on travel—either with the eraser tool, or via Capital One’s rewards center. Frequent flyers looking for additional rewards on purchases not covered by their go-to rewards card can use VentureOne to fill in the gaps—without paying another annual fee.

This card also offers a relatively brief introductory 0% interest offer on purchases. It’s only 12 months, but if you are planning a major purchase, putting it on a new VentureOne card will get you a break on paying interest and a jump start on earning the new cardholder bonus.

The VentureOne Card’s Excellent Perks

Below are perks our editors have deemed as being “excellent” because they’re more valuable than the standard perks offered by many rewards cards.

Coverage for lost luggage: If your carry-on or checked baggage is lost on a trip paid for with your Venture card, you could be reimbursed for up to $3,000. (Visa Signature card only). 

Travel accident insurance: If an accident happens while you and your family are traveling on a trip paid for with your card, you could be reimbursed for up to $250,000 against accidental death or dismemberment.

The VentureOne Card’s Other Features

Note that many of these features are only available with the Visa Signature card.

• Rental car collision insurance (secondary to your own policy)
• Extended warranties
• Insurance for stolen or damaged purchases
• Roadside assistance hotline
• Concierge for booking event tickets, travel, and other services
• Travel and emergency assistance hotline
• Sports, music, and event ticket presales, plus VIP access at some events

Customer Experience

Capital One ranked fifth of 11 companies in the most recent J.D. Power credit card customer satisfaction survey. You can expect 24/7 customer service via phone. There’s a bot (“Eno”) that can answer questions about your account, too.

Capital One offers a well-regarded credit card smartphone app, too, which scored a little higher in a separate J.D. Power survey: second overall out of 10 banks.

For credit-score watchers, Capital One provides a free credit score monitoring tool called CreditWise (available to non-cardholders, too), which gives you a look at your VantageScore.

Security Features

Capital One offers a full suite of security tools that are standard for the industry, including identity theft warnings, virtual card numbers for online purchases, and card locks if your card is lost or stolen.

The Capital One VentureOne Card’s Fees

There are no surprises in the fine print. This card’s fees are aligned with industry standards.