Capital One VentureOne Rewards Card: 40,000 Bonus Miles (Best Offer) w/ No Annual Fee

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The Capital One VentureOne Rewards card is their no-annual-fee travel rewards card with a flat 1.25x miles per dollar on all purchases. I haven’t really discussed this card previously as I prefer the bigger rewards and bonuses from the premium Capital One Venture and ultra-premium
Capital One Venture X
cards, but the welcome bonus amount has just been increased significantly to 40,000 miles after $1,000 in purchases within the first 3 months. This is the best offer that I’ve seen for this card.

40,000 miles can be redeemed for $400 in travel, offsetting any travel purchase made with the card (any airline, any hotel, AirBNB stays, Uber rides, no blackout dates), which is very high for any no-annual-fee card in general along with a relatively low spending hurdle. This is also the rare card that allows your points to transfer to airline miles without an annual fee. Here are the highlights:

  • Earn a bonus of 40,000 miles once you spend $1000 on purchases within 3 months from account opening, equal to $400 in travel
  • Earn unlimited 1.25X miles on every purchase.
  • Miles won’t expire for the life of the account and there’s no limit to how many you can earn
  • 5X miles on hotels and rental cars booked through Capital One Travel
  • Use your miles to get reimbursed for any travel purchase – or redeem by booking a trip through Capital One Travel
  • Transfer your miles to your choice of 15+ travel loyalty programs.
  • Enjoy 0% intro APR on purchases and balance transfers for 18 months; 19.24% – 29.24% variable APR after that; 3% fee on the amounts transferred within the first 18 months
  • No foreign transaction fees.
  • $0 annual fee.

Travel statement credit redemption details. Capital One “miles” can be redeemed directly for a cash statement credit on a 1 mile = $0.01 basis when offsetting any travel purchase made on the card within the past 90 days. In other words, 40,000 miles = $400 toward travel. That means you can fly on any airline or stay at any hotel, pay with this card, and then “erase” that purchase using your miles balance later. This even includes AirBnB vacation rentals, car rentals, and Uber rides.

This means that earning 1.25 miles on on every $1 in purchases essentially makes this a flat 1.25% back card when applied towards travel. You also have the option of booking travel through their travel portal, similar to Chase Ultimate Rewards, but you are not required to do so. You have the flexibility of booking through them or making the purchase directly through the airline, hotel, car rental counter, etc.

Miles transfer options. Capital One now allows you to transfer your “miles” into select airline miles programs as well. Here are the airline transfer partners:

  • Aeromexico
  • Air France/KLM
  • Air Canada Aeroplan
  • Cathay Pacific Asia Miles
  • Avianca Lifemiles
  • British Airways Avios
  • Emirates Skywards
  • Etihad
  • EVA
  • Finnair
  • Qantas
  • Singapore Airlines Krisflyer
  • TAP Air Portugal
  • Turkish Airlines
  • Virgin Red

Hotel partners

  • Accor Live Limitless
  • Choice Hotels

If you are willing to do some research on how to best leverage these international airline miles programs, this can be a very valuable option. (My personal favorite is Air Canada Aeroplan points.) Otherwise, it’s nice to know you can always get a certain level of value by redeeming against any travel purchase.

Comparison with other travel cards. This VentureOne Rewards credit card earns 1.25X Capital One miles per dollar spent with no annual fee, and has the capability on its own to transfer to airline miles. The Chase Freedom Unlimited card earns 1.5 Ultimate Rewards (UR) points per dollar spent with no annual fee, but it does not allow you to transfer the points to airline mile partners on its own. You must first transfer the UR points to another Chase Sapphire card that has an annual fee. You may also consider this VentureOne card as a downgrade option for other Venture cards, given its no annual fee and ability to keep your miles redeemable and transferrable (but with lower earning rates and fewer features).

Capital One’s “premium” card is the Venture Rewards credit card, which is more directly competitive with the Chase Sapphire Preferred.

Capital One’s “ultra-premium” card is the Venture X Rewards credit card, which has more perks including Priority Pass airport lounge access and a $300 annual travel credit through Capital One Travel, but also a higher $395 annual fee. The Venture X competes more directly with the Chase Sapphire Reserve.

Bottom line. The Capital One VentureOne Rewards card earns 1.25x miles on all purchases, which you can either redeem against any travel purchase or transfer to one of their airline/hotel partners. Right now, there is an improved offer of 40,000 bonus miles, worth $400 towards travel. This is a high value for a credit card with no annual fee.

Also see: Top 10 Best Credit Card Bonus Offers.

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Comments

  1. Looks like it has a $95 annual fee.

    Capital One Venture Rewards Credit Card
    Enjoy a one-time bonus of 75,000 Miles once you spend $4,000 on purchases within 3 months from account opening
    Rewards
    2 Miles per dollar on every purchase, every day. 5 Miles… ?
    Purchase Intro
    APR: N/A
    Regular APR
    20.24% – 28.24% (Variable)
    Annual Fee
    $95

    • Thanks, I have corrected the link to point to the VentureOne credit card.

      Should be: VentureOne has no annual fee. Venture has $95 annual fee (more perks, bigger bonus). Venture X has $395 annual fee (even more perks and total first year value).

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