If you are looking to pick up a new travel rewards credit card, it doesn’t get much better than the Capital One Venture card. It offers a generous signup bonus, double miles on every purchase and flexible reward redemption options.
Many of you are probably already fairly familiar with the Capital One Venture Rewards card. That’s because you’ve likely watched their commercials on televisions. With celebrity endorsers like Jennifer Garner and Alec Baldwin, Capital One has put a lot of effort into their brand awareness.
But just because a few celebrities endorse a product doesn’t mean it’s a good fit for your wallet. Keep reading as we dive into everything the card has to offer in our Capital One Venture Rewards card review.
Capital One Venture Card Review: Benefits and rewards
If you’re approved for the Capital One Venture Rewards card, you’re going to earn 50,000 miles after spending $3,000 on purchases within the first three months. This has a value of $500 toward travel expenses.
The card has an attractive signup bonus, but where it really gets really exciting is with the earning potential with each purchase. You can earn an unlimited 2x miles on every purchase you make using this card.
But it gets even better, because until January 31, 2020, you will be able to earn 10x on every hotel you book through Hotels.com. A single vacation could help you accumulate thousands of bonus miles to use in the future.
One of the features that makes this card so popular is how easy it is to redeem the miles you earn. There’s no struggling to find flights with award space and no blacked out hotel rooms. Instead, each mile you have is worth one cent toward travel. When you want to use your miles, you just book using your Capital One Venture card. Then, when your statement closes, you can get online and assign your miles to cover those travel transactions. It’s as simple as that.
So let’s assume, on average, you spend $2,000 per month with your credit card. That means including the signup bonus, this card could help you earn 98,000 miles the first year alone. And, guess what? Those miles will never expire as long as your card is open and active.
Capital One Venture Card: Perks
Being a Capital One Venture Rewards cardholder comes with benefits beyond just earning rewards. You’re also going to receive Auto Rental Collision Damage Waiver. This means that if you rent a car using your Capital One Venture card, you will be covered against any damage that might be caused by a collision or theft.
Additionally, you will also receive extended warranty protection. If you purchase an item with the Capital One Venture card that has a warranty of three years or less, you will receive an extra year of protection.
If you are traveling by air and the airline loses your luggage, you might be able to receive compensation with the card’s lost luggage reimbursement. This benefit has a maximum claim amount of $3,000 per trip.
There may not be anything more frustrating that when you make a purchase only to have it damaged or stolen soon after. If that were to happen, the Capital One Venture Reward card would cover the purchase with their Purchase Security benefit. If a purchase is damaged or stolen within 90 days, you can receive up to $500 per claim.
Capital One Venture Card: Rates and pricing
The Capital One Venture card comes with a $95 annual fee, however that’s waived the first year. Since each point you earn is worth one cent, you would need to spend $4,750 during the year to break even with the annual fee. This doesn’t factor in the signup bonus you receive the first year.
This card has a variable APR on purchases and balance transfers that will range from 14.49% to 24.49%, depending on your creditworthiness. But as long as you’re paying your statement balance on time each month, this is something you won’t need to worry about.
The Capital One Venture card is also a great addition to your wallet if you’re planning to travel internationally. Because it comes with no foreign transaction fees, purchases made abroad won’t cost you any extra.
Is the Capital One Venture card right for you?
There are a lot of things about the Capital One Venture card that make it very appealing. It offers an attractive signup bonus. It gives you the opportunity to earn 2x rewards on every purchase you make, other than with Hotels.com, where you’ll earn 10x. But most importantly, it’s flexible. You have the ability to use your rewards on any travel purchase you make. You’re not limited by the number of award seats that might be available on a flight.
If you have a strong credit score and are looking for a solid travel reward credit card, the Capital One Venture card is a great option.
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