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Capital One VentureOne Card review: No annual fees, generous welcome bonus, and easy-to-earn rewards

This card rewards you with 1.25 miles per $1 on every purchase, compared to its better-known sibling's 2X-miles-per-$1 offer. However, with no annual fee, this card could defy the rule that travel rewards credit cards come with strings attached. Additionally, new cardholders can earn a one-time bonus of 20,000 miles (equal to $200 in travel) after spending $500 on purchases within three months from account opening.
By Brooklyn Lowery  CardRatings Senior Manager  | Updated

Capital One VentureOne Rewards Credit Card

Capital One VentureOne Rewards Credit Card
Our Rating:   
Excellent, Good

CardRatings Editor's Analysis: Pros & Cons

  • Earn 1.25 miles per $1 spent on all your purchases, every day.
  • All of the flexibility of the Capital One Venture Rewards Credit Card without the annual fee.
  • Opportunity to earn a great early spend bonus of 20,000 miles (equal to $200 in travel credit) after spending $500 in the first three months.

CAPITAL ONE VENTUREONE REWARDS

The Capital One VentureOne Rewards Credit Card rarely gets much attention outside of its own website since the big brother Capital One Venture Rewards Credit Card has stolen the spotlight through national ad campaigns. But the Capital One VentureOne Rewards Credit Card holds its own thanks to word-of-mouth and a not-ungenerous 1.25 miles per $1 spent on all your purchases. Sure, that's less than the better-known sibling's two-miles-per-$1 offer, but with no annual fee, the Capital One VentureOne Rewards Credit Card could be just the right "no-strings-attached" fit for a rewards-card seeker who just doesn't travel enough or spend enough on credit cards to justify an annual fee.

Most notable features of the Capital One VentureOne Rewards Credit Card:

  • Enjoy a one-time bonus of 20,000 miles once you spend $500 on purchases within three months from account opening, equal to $200 in travel.
  • Earn unlimited 1.25 miles per $1 on every purchase, every day, and pay no annual fee.
  • Transfer your miles to multiple leading travel loyalty programs.
  • Fly any airline, stay at any hotel, anytime.
  • Enjoy a 0% intro APR on purchases and balance transfers for 15 months (then, 14.99% - 24.99% (Variable)).
  • Travel when you want with no blackout dates.
  • Pay no foreign transaction fees.
  • Miles won't expire for the life of the account and there's no limit to how many miles you can earn.

Top Features

 Rewards
Earn unlimited 1.25X miles on every purchase, every day. Earn 5X miles on hotels and rental cars booked through Capital One Travel, where you'll get our best prices on thousands of trip options
 Bonus Rewards
Earn a bonus of 20,000 miles once you spend $500 on purchases within 3 months from account opening, equal to $200 in travel
 Annual Fee
$0

CAPITAL ONE VENTUREONE CARD BENEFITS

When we called the Capital One VentureOne Rewards Credit Card a "no strings attached" card above, we meant it.

While some rewards credit cards, particularly travel rewards cards, have an introductory no-annual-fee offer for the first year, many expect you to pay a fee every year after that. With the Capital One VentureOne Rewards Credit Card, this is something you'll never have to worry about, which means you don't need to work through the math of whether you'll earn enough rewards in a given year to offset the fee.

And though you might not earn as many miles per purchase as with the $95-per-year Capital One Venture Rewards Credit Card, the Capital One VentureOne Rewards Credit Card does still allow you to rack up 1.25 miles for every $1 spent; offers a nice welcome offer of 20,000 miles after spending $500 in the first three months; and as an added bonus, has introductory 0% interest APR on purchases and balance transfers for the first 15 months (then, 14.99% - 24.99% (Variable)). These perks, along with no annual fee ever, certainly make the Capital One VentureOne Rewards Credit Card one to not overlook.

There are a also a number of travel benefits offered with this card. Capital One VentureOne Rewards Credit Card holders have access to travel accident insurance, 24-hour travel assistant services, auto rental collision damage waiver, and more. There are also no foreign transaction fees associated with this card, making it a great international companion as well.

CAPITAL ONE VENTUREONE REWARDS CREDIT SCORE NEEDED

Capital One VentureOne Rewards Credit Card offers lucrative rewards, but you'll need excellent credit in order to access them. Capital One notes that it is looking for applicants who haven't declared bankruptcy or defaulted on a loan, have had a credit card or loan with at least a $5,000 limit for three years or more and who haven't been more than 60 days late on a payment. Their website also states that "these are only guidelines to help you narrow your selection, and additional factors from your application and credit history will also be considered. You may meet these criteria and still be declined."

In terms of actual numbers, the credit bureau Experian says those with excellent credit usually have FICO scores of at least 800. Please note, however, that this number can vary between different bureaus.

POTENTIAL DOWNSIDES OF CAPITAL ONE VENTUREONE CARD

No annual fee is great, but those looking for a rewards card that will gain miles quickly might become frustrated with the 1.25 mile per $1 ratio. While the no annual fee perk makes the Capital One VentureOne Rewards Credit Card a great option for those who have time to work on their mile accumulation, those wanting to gain miles fast might want to consider a card with a higher mile-to-$1 ratio.

CAPITAL ONE VENTUREONE CARDHOLDER SCORES

CardRatings conducts a survey annually to learn what actual cardholders think of their cards. Here are the results:

Current Scores Past Scores
Overall Score 83.7 81.5
Rewards Program Satisfaction 8.2 8.3
Customer Service 8.4 8.2
Website/App Usability 8.6 8.0
Likelihood of Continuing to Use 8.9 8.3
Recommend to a Friend/Colleague 8.3 7.9

HOW CAPITAL ONE VENTUREONE COMPARES TO OTHER REWARDS CREDIT CARDS

Capital One VentureOne vs. Citi® Double Cash Card

The Citi® Double Cash Card - 18 month BT offer earns cash back instead of miles, but the nice thing about that is you can put your rewards towards anything, including travel. Plus, this no-annual-fee card earns just a bit more than the VentureOne card, that is, if you pay your monthly bill on time. With the Citi® Double Cash Card you'll earn 1% cash back when you make your purchases and then another 1% when you pay for your purchases. Just make sure you pay at least the minimum due on time.

There isn't a traditional welcome bonus offered with this card, but it does offer intro 0% APR on balance transfers for 18 months, which is a nice bonus in and of itself. After the intro period expires, 13.99% – 23.99% (Variable) will apply.

If you're looking for a card to travel internationally with, this might not be your best option as it charges a 3% fee on all foreign transactions.

Capital One VentureOne vs. Capital One Quicksilver Cash Rewards Credit Card

The Capital One Quicksilver Cash Rewards Credit Card is yet another very similar card to the Capital One VentureOne Rewards Credit Card. The Capital One Quicksilver Cash Rewards Credit Card has no annual fees, no foreign transaction fees, a 0% intro APR period on purchases and balance transfers (for 15 months, then 14.99% - 24.99% (Variable) after that), has a decent signup bonus ($200 cash back after spending $500 on purchases within the first three months from account opening), and earns rewards on every purchase made.

One big difference though is that like the Citi® Double Cash card, the Capital One Quicksilver Cash Rewards Credit Card earns cash back instead of miles, and the earning rate is a bit higher, at 1.5% per dollar spent, versus the 1.25 you get with the Capital One VentureOne Rewards Credit Card.

Capital One VentureOne vs. Capital One Venture Rewards Credit Card

Do you and your family only have a couple long weekends on the horizon, or are you dreaming of a year of jetsetting? Choosing between the Capital One VentureOne Rewards Credit Card and the Capital One Venture Rewards Credit Card just requires you to know your annual "break-even" point.

Both the Capital One VentureOne Rewards Credit Card and Capital One Venture Rewards Credit Card feature one-time bonus offers for new cardholders. The Capital One VentureOne Rewards Credit Card offers a one-time bonus of 20,000 miles once you spend $500 on purchases within the first three months, equal to $200 in travel, and the Capital One Venture Rewards Credit Card offers a bonus of 60,000 bonus miles when you spend $3,000 on purchases in the first three months from account opening.

If you are looking at bonus offers alone, the Capital One Venture Rewards Credit Card is a clear front-runner for the slot in your wallet reserved for a travel rewards card; however, if you don't spend very much on credit cards or don't travel that often, the Capital One VentureOne Rewards Credit Card becomes a better deal as the years pass.

Quick math estimates that, with the Capital One Venture Rewards Credit Card annual fee, you'll have to spend about $8,000 on the card every year to break even, if you don't earn the welcome bonuses. If you're funneling every monthly expense, vacation charge and supermarket purchase to your travel rewards card, you'll hit that mark pretty quickly each year. If that's not for you, the Capital One VentureOne Rewards Credit Card gives you the ability to earn rewards for travel without spending a dime on annual fees.

IS CAPITAL ONE VENTUREONE A GOOD CARD?

The Capital One VentureOne Rewards Credit Card is a great option no annual fee credit card option for those who are in no hurry to cash in on their miles, and who have some time to work on their mile accumulation. Plus, if you're just looking for a card that earns miles in the background while you go about your daily spending, this one won't disappoint thanks to its simple, flat-rate earning structure.


Survey Methodology: CardRatings commissioned Op4G in September and October 2020 to conduct surveys among 1,746 cardholders nationwide. CardRatings website analytics from Jan. 1, 2020-Aug. 31, 2020 were used to determine a selection of the most popular cards and additional cards were added to add survey breadth. Responses to each of nine questions were given on a scale of 1-10 and respondents' scores were then averaged under broad topics. To determine the overall score, responses from questions 1-8 were summed and the answer to "How likely are you to recommend this card to a friend, coworker or family member?" was double weighted.

Capital One VentureOne Rewards Credit Card Compared to Other Travel rewards Cards

Apply online for Capital One Venture Rewards Credit Card
Apply online for Citi Premier® Card
Citi Premier® Card
Apply online for Chase Sapphire Reserve®
Chase Sapphire Reserve®
Apply online for The Platinum Card® from American Express
The Platinum Card® from American Express
Rewards
Earn unlimited 1.25X miles on every purchase, every day. Earn 5X miles on hotels and rental cars booked through Capital One Travel, where you'll get our best prices on thousands of trip options 
Rewards
Earn unlimited 2X miles on every purchase, every day. Earn 5X miles on hotels and rental cars booked through Capital One Travel, where you'll get our best prices on thousands of trip options. 
Rewards
Earn 3 Points per $1 spent at Restaurants and Supermarkets. Earn 3 Points per $1 spent at Gas Stations, Air Travel and Hotels. Earn 1 Point per $1 spent on all other purchases. 
Rewards
Earn 5X total points on air travel and 10X total points on hotels and car rentals when you purchase travel through Chase Ultimate Rewards® immediately after the first $300 is spent on travel purchases annually. Earn 3X points on other travel and dining & 1 point per $1 spent on all other purchases 
Rewards
Earn 10x points on eligible purchases on the Card at restaurants worldwide and when you Shop Small in the U.S., on up to $25,000 in combined purchases, during your first 6 months of Card Membership. Earn 5X Membership Rewards® Points for flights booked directly with airlines or with American Express Travel up to $500,000 on these purchases per calendar year and earn 5X Membership Rewards® Points on prepaid hotels booked with American Express Travel. 
Bonus Rewards
Earn a bonus of 20,000 miles once you spend $500 on purchases within 3 months from account opening, equal to $200 in travel 
Bonus Rewards
Enjoy a one-time bonus of 60,000 miles once you spend $3,000 on purchases within 3 months from account opening, equal to $600 in travel  
Bonus Rewards
Earn 80,000 bonus ThankYou® Points after you spend $4,000 in purchases within the first 3 months of account opening  
Bonus Rewards
Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening.  
Bonus Rewards
Earn 100,000 Membership Rewards® Points after you spend $6,000 on purchases on the Card in your first 6 months of Card Membership.  
Annual Fee
$0 
Annual Fee
$95 
Annual Fee
$95 
Annual Fee
$550 
Annual Fee
$695 

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