Capital One Venture Card Review, Rewards, Benefits & Apply Online

Capital One Venture Card Capital One has done just that with its new Capital One Venture Card, a $59-annual fee credit card that pays double miles on purchases and lets users redeem rewards on any travel-related purchase.

Rewards: First, let’s look at the one with the annual fee. This version allows you to earn 2 points for every dollar that you spend on the card. You get 10,000 bonus miles if you spend $1000 in the first three months after you get the card. Points can be redeemed for airline tickets, other travel items, gift cards and merchandise. The annual fee for this card is $59 and is waived for the first year. You also get concierge service with this card.

The no annual fee version (called VentureOne) allows you to earn 1.25 points for every dollar that you spend on the card. Like the other card, you also get concierge service.

How to Redeem Points for Airline Tickets – To redeem your points for airline tickets, you can either book your travels with Capital One or yourself (and then claim it for a statement rebate using your points you have earned). 100 points is worth $1. Hence 30,000 points gets you a $300 ticket. Because you can use any agent to book, it is really convenient and not subjected to blackout dates.

What’s New About the Venture Card?

At first glance, the Capital One Venture Card offers similar benefits to the card company’s No Hassles Miles Rewards cards except that the Venture Card has a higher rewards level: You’ll earn two miles for every dollar spent, without limits. According to Capital One:

There are no limits on when, where or how you earn double miles, no retailer specifications or spending categories, no separate rewards enrollment or re-enrollment requirements, and no limit on the number of miles cardholders can accumulate. What’s more, cardholders enjoy easy redemption by booking on any airline at any time, with no blackout dates, no advance booking required, and no expiration. Rewards can be redeemed for any travel related expense, such as airline, hotel, cruise line and rental car transactions.

The other big difference with the Venture Credit Card is the way you redeem rewards you can use your miles to pay for any travel-related purchase you make with your card. You simply purchase your travel and flag the charge for reimbursement from your accumulated miles. And the redemption rate is average 100 points equals one dollar’s reward. So $15,000 in spending earns you 30,000 miles which can buy a $300 airline ticket…any airline ticket. That’s better than a lot of points rewards cards that only give you one point for every dollar spent and then require you to cash in up to twice as many points to get a cash-value reward like a gift card.

Capital One Venture Card Benefits:

  • Travel upgrades and savings
  • Complimentary concierge service
  • Special access to events
  • Shopping discounts
  • $0 Fraud Liability
  • 24-hour travel & emergency assistance
  • 24-hour roadside assistance
  • Extended warranty program
  • Travel accident insurance
  • Auto rental insurance

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