Capital One Venture Reward credit card reviews
Capital One Venture Reward Card is for those who want to earn miles and travel rewards without getting in the hassle of rotating categories. No matter which airline you choose for travel or which hotel you decide to stay in, you can redeem the fixed value miles of this card for all your travel expenses.
Terms & Fees
- Annual Fee: $0 for the first year, $95 for every subsequent year
- Purchase APR: 14.74% to 24.74% Variable
- Cash Advance APR: 24.74% Variable
- Cash Advance Fee: 3%, Min: $10
- Foreign Transaction Fee: $0
- Balance APR: 14.74% to 24.74% Variable
- Balance Transfer Fee: $0
- Late Fee: Up to $38
- The miles do not expire until the card is active, and the account is open
- There is no limit to the number of miles that you can earn
- There are no blackout dates
- You can redeem any hotel or airline purchase for a statement credit
- There is no minimum limit of miles required to redeem
Earning the Rewards
- You get a one-time bonus of 20,000 miles which equals the amount of $500 in travel if you spend $3,000 within the first three months after purchasing the card
- Earn 1.25% cash back on all the vacation expenses, travels, and transportations
- Earn 10X miles every time you make a booking on hotels.com/Ventures
- Earn 2X miles on all the other purchases
- Save 3% on all the charges you make abroad
- Earn an application fee credit of up to $100 for TSA Pre or Global Entry
Redeeming the Rewards
You can pay off the past purchases using your Capital One Venture Reward miles or use the same for you future travel purchases. You can redeem the miles through multiple mediums, including account credits, travel purchases, cash, gift cards, local charities, regular product purchases or purchase of unique experiences like private dinner parties and skydiving among others.
- Redemption for Travel: You can redeem your miles towards all the travel expenses like hotels, flights, subways, cabs, and car rentals. You will get 1-dollar credit in exchange for 100 miles while achieving an effective rewards rate of 1.25%. Your reward rate will be more if you make bookings through hotels.com/Ventures.
- Redemption for Cash, Gift Cards and Other Purchases: If you redeem your miles for the non-travel expenses, then you will be able to get 1 dollar in exchange for 200 miles, which would bring your reward rate to a net of merely 0.63%.
- Redemption for Merchandise: If you are planning to redeem your miles for the purchase of merchandise, then you must do it through Capital One’s reward center. The value of the miles will be different depending on the prices of the products that are available in the reward center. However, you can expect to get less than 1 dollar in exchange for 100 miles.
The recommended source of redeeming the miles would be for travel expenses as it provides more value in comparison to cash or any other purchases.
Benefits to Cardholders
The Capital One Venture Reward Card offers some of the very impressive Visa travel benefits that include:
- Travel accident insurance for up to $250,000
- Secondary Card Rental Insurance
- Lost luggage reimbursement while traveling for up to $3,000
- When you purchase regularly using the card, you will receive extended warranty protection that you can claim for a maximum amount of $10,000 per claim and $50,000 per cardholder over a period of 3 years or less.
- You get purchase security that reimburses, replaces or repair in case of theft or damage within the 90 days after making any purchase using the card. You can avail up to $500 per claim and $50,000 per cardholder in this case.
The Capital One Venture Reward Card offers more miles of spending per dollar on travels than any other travel reward card available in the market. Besides, it does not even charge several common fees and has a simple redemption system. Particularly when you are traveling abroad, this card is the best to have, as it does not charge any foreign transaction fee, thus making it easier for you to make as many purchases as you want abroad without having to worry about any additional charges.