Capital One VentureOne Rewards Credit Card Review: An Affordable Choice

Overview of the Capital One VentureOne Rewards Credit Card

The no-annual-fee Capital One VentureOne Rewards Credit Card (see rates and fees) provides the same excellent redemption choices as its counterparts, the Capital One Venture Rewards Credit Card and the Capital One Venture X Rewards Credit Card. However, it features a lower rewards rate and fewer benefits. The miles earned can be transferred to over 15 airline and hotel partners or redeemed as a statement credit for eligible purchases. Card Rating*: ⭐⭐⭐

*Card rating reflects the views of TPG's editors and is not influenced by the card issuer.

Regardless of which card from the Capital One Venture family you select, all three options provide straightforward earning structures, access to over 15 airline and hotel transfer partners, and user-friendly rewards.

For those who prefer a simple way to earn and redeem rewards, you can use your miles to "offset" travel expenses charged to your card within the last 90 days.

This card has no annual fee, and TPG suggests a credit score of 670 or higher for approval.

If you're hesitant about paying an annual fee, the Capital One VentureOne Rewards Credit Card might be a suitable option.

Pros and Cons of the Capital One VentureOne

Capital One VentureOne Sign-Up Offer

The Capital One VentureOne Rewards card offers a welcome bonus of 20,000 miles when you spend $500 within the first three months of opening your account. According to TPG valuations, which value Capital One Venture miles at 1.85 cents each, this bonus is worth $370.

This is notably less than the bonus for the Venture card, which currently provides 75,000 miles after spending $4,000 within the first three months. TPG values this welcome bonus at $1,388.

Nonetheless, the 20,000-mile bonus surpasses what many other no-annual-fee cards typically offer (see rates and fees). Furthermore, the spending requirement for the VentureOne card is significantly easier to meet, needing just $500 in purchases.

Advantages of Capital One VentureOne

The VentureOne card offers a comprehensive range of travel and shopping benefits typically associated with World Elite Mastercard, including:

• Emergency travel assistance
• Insurance for rental cars
• Warranty extension

Alongside these World Elite Mastercard benefits, the VentureOne stands out as one of the few no-annual-fee cards that does not charge foreign transaction fees (see rates and fees), making it an excellent choice for international use. Benefits are available only for accounts approved for the World Elite Mastercard, and certain terms apply.

Accumulating miles with the Capital One VentureOne

The earning structure of the VentureOne is akin to that of the $95-a-year Venture card (see rates and fees), though it offers a slightly lower return on everyday expenses.

You'll earn a consistent 1.25 miles for every dollar spent on regular purchases, translating to a respectable 2.33% return based on TPG valuations. While this is good, it isn't the top return for everyday spending. Nevertheless, the unlimited earning rate means you won't have to track various bonus categories — trading complexity for straightforward value.

Additionally, when booking hotels and rental cars via the Capital One travel portal, you can earn 5 miles per dollar, which results in an impressive 9.25% return.

Using miles with the Capital One VentureOne

There are several ways to redeem your Venture miles.

The easiest method is to use them to offset eligible purchases as a statement credit. You can log into your Venture Rewards online account and redeem miles at a fixed rate of 1 cent each for statement credits on qualifying travel purchases made in the last 90 days.

This covers various travel expenses that typical miles may not, including Uber rides and Airbnb stays. There are no award charts, blackout dates, or minimum redemption limits.

Transferring miles with the Capital One VentureOne

To maximize the value of your sign-up bonus, consider following TPG credit cards editor Emily Thompson and exploring the advanced redemption option of utilizing Capital One's transfer partners.

Capital One boasts over 15 airline and hotel partners where you can transfer your miles, including Avianca LifeMiles, British Airways Executive Club, Etihad Guest, and Turkish Airlines Miles&Smiles.

This redemption method is a bit more intricate than simply redeeming for charges at a set rate, but it’s not as challenging as it seems. We have numerous guides available to help you optimize your mile redemptions through transfer partners:

• Top methods to redeem Capital One miles for domestic flights
• Optimal ways to redeem Capital One miles on Star Alliance airlines
• Best strategies to redeem Capital One miles on Oneworld airlines
• Effective ways to redeem Capital One miles on SkyTeam airlines

What cards are competitors to the Capital One VentureOne?

If this card seems attractive to you, be aware that several no-annual-fee alternatives compete with the VentureOne, as well as its predecessor:

• For straightforward rewards: The Citi Double Cash® Card (see rates and fees) offers 2% cash back on every purchase — 1% at the time of purchase and another 1% when you pay it off. When paired with an eligible ThankYou points-earning card, you earn 2 ThankYou Points per dollar, which is a better rate than the VentureOne. For further details, see our full review of the Citi Double Cash.
• For attractive bonus categories: The Chase Freedom Unlimited® provides 5% back on travel booked through Chase Travel℠, 3% on dining and drugstore purchases, and 1.5% on all other transactions. If combined with a Chase Sapphire Reserve® or Chase Sapphire Preferred® Card, you can consolidate points to transfer to Chase's airline and hotel partners. For more information, check our full review of the Chase Freedom Unlimited.
• For increased earnings and travel perks: The main distinction between this card and its Venture Rewards counterpart is its superior earning rate of 2 miles per dollar on everyday spending. Additionally, it offers up to $120 in Global Entry/TSA PreCheck application fee credits. Remember, there is a $95 annual fee (see rates and fees). For additional details, read our full review of the Capital One Venture Rewards card.

For more options, take a look at our comprehensive list of the best no-annual-fee cards.

Is the Capital One VentureOne a good choice?

The VentureOne (see rates and fees) is a great no-annual-fee choice for those seeking a substantial sign-up bonus, decent perks, and the option to transfer points and miles directly to travel partners. However, for a better earning rate on everyday purchases, consider opting for a Venture card that comes with an annual fee.

Conclusion

Alongside its perks and sign-up bonus, the Capital One VentureOne Rewards Credit Card stands out among other no-annual-fee cards due to features like no foreign transaction fees (see rates and fees). It’s an economical choice for both Capital One enthusiasts and frequent travelers.

Learn more: Capital One VentureOne Rewards

For Capital One products mentioned on this page, some benefits are offered by Visa® or Mastercard® and may differ by product. Refer to the respective Guide to Benefits for more information, as terms and exclusions apply.