For travelers looking for a no-annual fee travel card, check out the Capital One VentureOne Rewards card. It is one of the basic travel cards, offering 1.25 miles per $1 spent on everything and a decent welcome bonus. Although some might be underwhelmed, a positive is that, it does allow for the transfer of miles to airline partners. And unlike the Capital One Venture Rewards Card, the VentureOne doesn’t come with an annual price tag!
Capital One VentureOne
CURRENT WELCOME BONUS
20,000 bonus miles after spending $500 during first 3 months
Earn unlimited 1.25 miles on every $1 spent
0% for 12 months; then 15.49% – 25.49%
FOREIGN TRANSACTION FEE
RECOMMENDED CREDIT SCORE
670 – 850
The Capital One VentureOne Card is best for …
Paying an annual fee can be less than ideal for travellers who prefer not to track costs vs. rewards. Therefore, the VentureOne is perfect for jet-setters who prefer to take the guessing game out of it. And because Capital One allows cardholders to transfer miles to their favorite frequent flyer program, that is a plus. It’s important to point out that Capital One has 2 VentureOne cards. There is a VentureOne Rewards for those with excellent credit and another for those with good credit. There are some minor differences, however, most things are the same. For example, they offer the same rewards, but the VentureOne for excellent credit comes with a welcome bonus. For simplicity purposes, we only reference the VentureOne for excellent credit. To qualify for the better card and improve your credit scores, check out our post here.
The Welcome Bonus
The VentureOne card offers 20,000 bonus miles after spending $500 on purchases within 3 months of account opening. Unlike most rewards cards, the spending requirement is only $500, granted you can spend at least $167/month. According to Capital One, this bonus is worth at least $200 in travel purchases, or even more when transferred to one of the travel partners. All things considered, not a bad bonus for a card that carries no annual fee. That said, the Discover it Miles, another no-annual fee card, does offer a much better welcome offer.
Capital One VentureOne Rewards & Redemption
Just like on the Venture Card, earning rewards on the VentureOne is pretty simple. You earn an unlimited 1.25 miles per $1 spent on anything, anytime. Miles don’t expire (so long as the account remains open) and can be redeemed for airfare, hotels, Amazon shopping, cash back etc. In addition, you have the option of transferring miles to one of CapitalOne’s 14 travel partners, including JetBlue. This will get you the best value for your miles, while things like gift card redemption have the lowest value.
Generally speaking, this is an okay travel rewards card for people seeking the freedom to earn miles on anything while getting flexible rewards options. However, at an earnings rate of 1.25 miles per $1 spent, it does come in on the lower end of travel rewards cards. There are similar cards with no-annual fee offering much better rates, such as the Bank of America Travel Rewards Card. There is also the problem of limited U.S.-based travel partners, with JetBlue being the only one. That said, if you fly internationally more often, then that shouldn’t be an issue. Air France and Emirates are also partners.
If you are looking for a better rewards earning rate, be prepared to pay an annual fee. Otherwise, the Capital One VentureOne card isn’t too terrible, especially for budget travellers!