The Capital One Venture is a travel-focused card for everyday spending. The card has an annual fee and it can be difficult to optimize rewards, so it’s not for everyone. The pros and cons take more time to weigh compared with other credit cards. It’s a card which is best for people who aren’t loyal to a particular airline or hotel chain. The added flexibility of transferable miles is generally a good thing. Some people may get plenty of value from the Venture card, but other options are usually better, including the new Capital One Venture X. It’ll require a lot of research and travel know-how to truly maximize the Venture.
FEATURES AT A GLANCE
- $95 annual fee (sometimes waived the first year)
- Zero foreign transaction fees
- 5x points on hotels and rental cars booked through Capital One Travel
- 2x points on everything else
- $100 Global Entry credit (once every 4 years)
- Metal card
SIGN UP BONUS
As of November 2021, the Venture publicly offers 60,000 bonus miles after spending $3,000 in 90 days. The bonus is generally valued at $600, but could be less or more, depending on how miles are redeemed. Taking into account the annual fee, you’d spend $3,095 to get $660+ of points for a minimum 21.3% return.
The Venture sign-up bonus changes on a regular basis. 60,000 miles is a fair bonus, but not an all-time-high, so it might be worthwhile to wait for a better opportunity. Alternatively, the new Venture X card offers 100,000 bonus miles at this time.
OTHER BENEFITS OF THE VENTURE CARD
- Visa Signature benefits (if eligible)
- Extended Warranty
- Travel Accident Insurance
- Price Match Guarantee on Capital One Travel
- Zero Fraud Liability
- Event/Experience Access
- Capital One Offers
Venture cardholders are eligible for two free annual visits at the Capital One airport lounge in Dallas Fort Worth Airport (DFW). $45 per visit after that (guests are $45 each time, even on your “free” visits). More Capital One lounges are opening in Denver and DC (Washington Dulles Airport, IAD) and expected in 2023-2024. People who don’t have a Venture or Spark card can enter for $65. Venture X cardholders get free unlimited access.
RESTRICTIONS AND CREDIT SCORE
Recommended credit score: 670+
Capital One has a limit to how many cards you can have open with them, but the limit is high enough to be irrelevant for most people. More importantly, you can only apply for a Capital One card once every 6 months. This is sometimes called the “1/6 rule.”
MAXIMIZING REWARDS WITH THE VENTURE CARD
Miles (points) can be redeemed against travel purchases as a statement credit, for $0.01 (1 cpp) each. Capital One calls it “Purchase Eraser.” Using miles to buy gift cards or book trips is usually 1 cpp too (YMMV). Redeeming miles for cash is the worst option because points are worth 0.5 cpp there. Stick to travel expenses with the Venture X.
The best option is usually to transfer your miles to one of Capital One’s travel partners. This can get complicated because miles aren’t always transferable at a 1:1 ratio. People looking to maximize the Venture need to do some math. Fortunately, Capital One did streamline this twice in 2021. Only Accor and EVA aren’t 1:1 transfers (2:1 and 2:1.5, respectively). Just remember to transfer points before you try to book a flight or room, since points may not transfer instantly. Some partners take 1-5 days to process a transfer.
There are 14 airline and 3 hotel transfer partners as of November 2021:
- Accor Live Limitless – Points are typically worth 2 cpp
- Aeromexico (Club Premier) – Points are typically worth 0.68 cpp
- Air France KLM (Flying Blue) – Points are typically worth 1.2 cpp
- Air Canada (Aeroplan) – Points are typically worth 1.5 cpp
- Asia Miles / Cathay Pacific – Points are typically worth 1.3 cpp
- Avianca LifeMiles – Points are typically worth 1.7 cpp
- British Airways (Avios) – Points are typically worth 1.5 cpp
- Choice Hotels – Points are typically worth 0.6 cpp
- Emirates Skywards – Points are typically worth 1.2 cpp
- Etihad Airways – Points are typically worth 1.4 cpp
- EVA Air (Infinity MileageLands) – Points are typically worth 1 to 3 cpp
- Finnair – Points are typically worth 0.7 to 2 cpp
- Qantas – Points are typically worth 0.7 to 1.6 cpp
- Singapore Airlines (KrisFlyer) – Points are typically worth 1.3 cpp
- TAP Air Portugal (Miles&Go) – Points are typically worth 1 cpp or less (varies widely)
- Turkish Airlines (Miles&Smiles) – Points are typically worth 1.3 cpp
- Wyndham – Points are typically worth 1.1 cpp
JetBlue used to be a transfer partner, but they left the program in October 2021. Cardholders may be able to transfer points for use with another partner. For example, Avianca is part of the Star Alliance, so it’s possible to book United Airlines flights with LifeMiles. Or British Airways Avios can be used for flights at Iberia, Aer Lingus, or Vueling, among other options. The Capital One Venture X can be as complicated as ruthless deal-seekers want it to be. Keep an eye out for fuel surcharges or other fees.
Alliances for inter-airline bookings and transfers:
- Star Alliance: Air Canada Aeroplan, Singapore Airlines Krisflyer, Turkish Airlines Miles&Smiles, Avianca LifeMiles, TAP Air Portugal Miles&Go
- oneworld: British Airways Executive Club, Cathay Pacific Asia Miles, Finnair Plus, Qantas Frequent Flyer
- SkyTeam: Air France KLM Flying Blue, Aeromexico Club Premier
Naturally, points should only be transferred when you’ll get at least 1 cpp in value. Note that purchases in cash can sometimes be a better deal. With each travel purchase, you’ll have to consider whether it’s better to transfer points or use Purchase Eraser.
Poor transfer options include EVA, Finnair, TAP Air Portugal, and Aeromexico. This is subject to change, since airlines and hotels can change up their loyalty programs without notice. The best transfer options are currently Air Canada Aeroplan, Avianca LifeMiles, Etihad, and Turkish Air.
ALTERNATIVES TO THE VENTURE
There’s a no-fee downgrade option, the VentureOne. It earns 1.25x miles without an annual fee and you can still transfer points to travel partners. The higher-tier option is the new Venture X, which is typically a better value. The Venture sits in an awkward place since the VentureOne and Venture X have more potential benefits.
For a general-use card, any of the best everyday cards will work. You’ll want to earn at least 2% cash back on all purchases. These cards can easily be better than the Venture.
Luxury cards like the Chase Sapphire Reserve or American Express Platinum may be superior options for travel generalists. Then for people with brand loyalties, specific airline or hotel credit cards could be best. The Venture’s value is different for each person.
CONCLUSION
The Capital One Venture can be a decent card or one of the worst cards ever. It’s heavily dependent on your preferences, lifestyles, and appetite for card optimization. This is a card for people who enjoy the points game and maximize their travel purchases. If you can regularly get 1.5 to 2 cpp from the Venture, it’s fine. That works out to 3-4% cash back on everything. If you’re using the card only for Purchase Eraser however, you’d be better off with a no-fee card that earns 2% cash back on all purchases. There are a lot of alternatives to the Venture. 2% cash back with an annual fee, versus 2% cash back without an annual fee, isn’t a tough decision.
We’d recommend the Capital One Venture X over the Venture or VentureOne cards. The Venture X gives better perks for what’s effectively a lower annual fee. The Venture isn’t worth considering compared to the Venture X. It’s easier to offset the Venture X annual fee than the Venture’s annual fee.
Another downside of Capital One is that they pull credit reports from all three bureaus (Equifax, Experian, TransUnion). This can hurt your FICO score in the short term, since most card issuers aren’t involved with every bureau.
We rate the Venture card 2 out of 5 stars. ⭐⭐
Note: This review was last updated in November 2021. Details may have changed since then. Please do your own research where applicable, to ensure you’re getting the best deal. Or contact us directly to take advantage of our personalized consulting services!