I have a confession to make: I hated the Capital One Venture Rewards Credit Card.
I know, I know – it was a controversial opinion among my TPG colleagues for the longest time. I’ll always be a Chase girl (the Chase Sapphire Preferred® card was my first travel credit card, and it still tops my wallet), and Venture Rewards always seemed overrated in comparison.
However, despite my misgivings, I applied for the card a few years ago when Capital One was offering up to 100,000 miles as a welcome offer. After adding the card to my wallet, it’s actually become a staple that I can’t imagine getting rid of.
Here’s how Capital One Venture Rewards changed my mind and became my favorite card to recommend.
double mile
Who also has Chase Freedom Unlimited®, I initially overlooked the benefit of earning at least 2 miles per dollar spent on purchases. With my Freedom Unlimited, I earn at least 1.5% back on all purchases (new cardholders can earn a bonus 1.5% back on all categories up to $20,000 in the first year). But that extra 0.5 miles adds up over time and makes a big difference in how quickly I reap the rewards.
Last year, I spent about $21,000 on my Venture, which earned about 42,000 miles. With my Freedom Unlimited, I would have only earned 31,500 Ultimate Rewards points on that non-bonus spend.
Based on TPG’s July 2024 valuation, Venture Rewards has about $777 more in earned value compared to Chase Freedom Unlimited with Venture Rewards (since I also have Chase Sapphire Preferred, my Freedom Unlimited points get the full value of Ultimate Rewards points).
As for the extra miles, right now new cardholders can earn 75,000 bonus miles after spending $4,000 on the card in the first three months of account opening. Plus, new cardholders get a $250 Capital One travel credit just for opening an account.
Capital One Transfer Partners
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While my Chase and American Express cards also allow me to transfer my rewards to hotel and airline partners, Capital One offers some unique options that my other cards don’t, including Virgin Red and Finnair Plus.
Also, the ability to funnel rewards from multiple cards into one account (like British Airways or Singapore Airlines – transfer partners of all three credit card issuers I mentioned) helps me maximize the earning category on all cards while still combining rewards for larger redemptions. .
Global Entry/TSA PreCheck fee credit
The Capital One Venture Rewards is one of the few mid-tier travel rewards cards that offers a Global Entry/TSA PreCheck application fee credit. In the first year, this benefit alone made it easy to get positive value from this $95-per-year card (see rates and fees).
Related: Top 11 Credit Cards With Annual Travel Statement Credit
Low annual fee
The benefits listed above are great, but the low annual fee reinforces the value of this card. I get multiple benefits with this card which is the most Travel does not offer cards in the sub-$100 annual fee range. As much as I love my Chase Sapphire Preferred, it doesn’t cover my Global Entry/TSA PreCheck application fees to save me time at the airport or earn great rewards on non-bonus spend.
Some cards offer more benefits such as lounge access, travel credits and higher spend rates for certain categories. But they also come with a much higher annual fee. At this point in my life, I can’t justify spending thousands of dollars per year on annual fees for multiple cards, such as Chase Sapphire Reserve® And Platinum Card® from American Express.
Thankfully, some of the best mid-tier cards make travel more convenient without breaking the bank — including Venture Rewards. With only a $95 annual fee (see rates and fees), it’s easy to justify keeping this card in my wallet for the long haul.
Bottom line
I can admit when I’m wrong, and I certainly misjudged Venture Rewards for a long time before I realized how much value it could add to my wallet. Now, she’s one of mine The most recommended cards for newcomers to the points and miles space are looking for a card that is easy to use and maximizes.
Venture Rewards is a great first travel credit card with a low annual fee (see rates and fees), easy-to-use rewards, and solid benefits you won’t find with other mid-tier cards. As for the benefits of points, it provides a great way to diversify your transfer partner options across cards and earn rewards on non-bonus purchases that other cards can’t cover without adding hundreds of dollars in annual fees (see Rates and Fees).
To learn more, read our full review of the Capital One Venture Rewards Card.
Learn more: Capital One Venture Rewards Credit Card
Related: Capital One Venture Rewards Vs. Capital One Venture Ex
For Amex Platinum rates and fees, click here.