Review: Capital One Venture Rewards Credit Card

Who is the Capital One Venture Rewards Credit Card for?

This is also a useful card for anyone looking to beef up their points-earning strategy. The earning rate of two points per dollar on all eligible purchases could maximize the points you earn alongside more specialized, say, travel and dining cards in your wallet. 

Capital One Venture Rewards Credit Card Quick Facts

Capital One Venture Rewards Credit Card Review

Even the most experienced points and miles expert had to start somewhere, and these days, there are more beginner-friendly cards than ever that can help points newbies get the hang of earning and maximizing travel rewards.

In my opinion, there are two important factors that determine the user-friendliness of a rewards card: how easy it is to earn points with the card, and how affordable it is to keep the card long-term. First, the points “rewards structure” should actually be simple to understand; second, it shouldn’t cost an arm and a leg to actually hold onto the card over years to come. So when you’re shopping for a new (or your first!) points credit card, ask yourself: Do I know how to earn points with this card? Will I actually use it day-to-day? And can I keep it in my wallet for longer than a year?

Earning points with the Capital One Venture Rewards Credit Card

Many credit cards offer multiple points for every dollar spent on purchases in particular categories. Some cards earn you 3 points per dollar (3x) spent at gas stations or 4 points per dollar (4x) spent at grocery stores. That’s all well and good, but it can sometimes be hard to keep track of which card earns how much and where.

Sure, you could possibly earn more points for spending at, say, restaurants if you use another credit card, but a card like this comes in handy for two reasons. First, if you only want to carry one card in your wallet, the Venture is an all-purpose workhorse—you get 2x on everything! 

And second, with it, you’ll still get 2x for spending in commonly “non-bonused” categories like book stores or thrift shops (I am speaking from experience, as a book lover and thrift shopper); a specialized card will often only get you 1 point per dollar for purchases made outside its target categories. (This feature also makes the Venture a good complement to the cards you may already have that maximize your points-earning in certain categories but not in others.)

On top of that, the Venture does also offer an extra bonus category: You earn 5 miles per dollar on hotels and rental cars booked through the Capital One Travel portal.

Redeeming points with the Capital One Venture Rewards Credit Card

The best way to maximize your points is by transferring your points to Capital One's network of airline partners. 

You could also use your points as statement credit for travel purchases on your card. 

Capital One transfer partners

You can transfer your Capital One points to these airline partners at a 1:1 ratio:

• Aeromexico Club Premier
• Air Canada Aeroplan
• Air France / KLM Flying Blue
• Avianca LifeMiles
• British Airways Executive Club
• Cathay Pacific Asia Miles
• Emirates Skywards
• Etihad Guest
• Finnair Plus
• Qantas Frequent Flyer
• Singapore Airlines KrisFlyer
• TAP Air Portugal Miles&Go
• Turkish Airlines Miles&Smiles
• Virgin Red

In addition, Capital One points transfer to EVA Air Infinity MileageLands at a 2:1.5 ratio. This means that 1000 Capital One points become 750 EVA Air miles.

A one to one (1:1) ratio means that one Capital One point is equivalent to one mile or point with most of these loyalty programs, once transferred.

Transfer times from Capital One to its travel partners vary. Points transfers to Cathay Pacific can take up to 24 hours. Meanwhile, points transfers to EVA Air can take up to 36 hours. Points transfers to all other airline partners are relatively instantaneous.

Capital One hotel transfer partners

And these are Capital One’s current hotel partners. 

• ALL Accor Live Limitless
• Choice Privileges 
• Wyndham Rewards

Capital One points transfer at a 1:1 ratio to Choice Privileges and Wyndham Rewards; points transfer to Accor at a 2:1 ratio. Points transfers to all these hotel loyalty programs vary in speed. It can take up to two days for Accor, one day for Choice Privileges, and a few minutes for Wyndham.

On the whole, transferring points to hotels rarely maximizes the value of your points. You’re better off sticking to points transfers to airlines to get the most cents per point when you compare the cash price to the points cost.

Welcome offer on the Capital One Venture Rewards Credit Card

The current welcome offer can get you a wide variety of travel experiences. Here are some ideas of what you could do with those points:

• Take your family to Disney World by transferring points to British Airways Executive Club and booking partner awards for four roundtrip economy tickets on American Airlines between Dallas and Orlando for a total of 72,000 Avios (that’s British’s miles currency) 
• Fly in comfort and style to see the Eiffel Tower by transferring points to Air France-KLM Flying Blue and booking a one-way award flight from New York to Paris in Air France business class for 55,000 Flying Blue miles (with enough left over to book an economy flight back for just 15,000 Flying Blue miles)
• Go on a group vacation to Hawai’i by transferring points to Air Canada Aeroplan and booking partner awards for three roundtrip economy tickets on United between San Francisco and Honolulu for as low as 75,000 Aeroplan miles in total

Transferring Capital One points vs. Capital One Travel Portal

I highly recommend transferring your Capital One points to an airline partner rather than using the points to pay for travel through the Capital One Travel portal. You will rarely maximize the value of your credit card points by using them in travel portals. Do the math: Your 75,000 points are worth only $750 through the travel portal, whereas those four roundtrip tickets to Orlando could cost as much as $1,400. Transferring your points to airlines will stretch the value of your points way farther than they could ever go in a travel portal. 

Additional benefits of the Capital One Venture Rewards Credit Card

In addition to the ability to earn Capital One points and transfer them to airline partners, the Venture Card also has a number of benefits that make it a fit for many travelers.

First, you can receive up to a $100 credit for Global Entry or TSA PreCheck® once every four years—that’s the cost of the application every time you have to renew membership. For those unfamiliar, TSA PreCheck® lets you expedite your security process at the airport upon departure within or from the United States (there’s no TSA PreCheck® in Europe, for example), and Global Entry speeds up the immigration process when you enter the US. If you go through the interview process for Global Entry and are approved, you automatically get TSA PreCheck®.

Second, cardholders receive two complimentary visits per year to Capital One Lounges or to over 100 Plaza Premium Lounges through the Partner Lounge Network to use by December 31, 2024.

And third, the Venture card does not charge foreign transaction fees, which means you can freely use this credit card while traveling abroad without worrying about any extra charges for paying with a card.

Alternatives to the Capital One Venture Rewards Card

Capital One Venture X Rewards Card

This more premium card also comes with a $300 annual credit for bookings through Capital One Travel. If you use this, you effectively erase the difference in annual fees between the two cards. 

Chase Sapphire Preferred® Card

Also, this card really shines with its network of transfer partners.