Since Capital One has lately modified some of the terms around its Venture Rewards card, which is their flagship travel rewards offering, we decided to summarize the pros/cons, gather the details, and put them in a format that is easy to read and understand, so that you can make an informed decision.
Is Capital One’s Venture Rewards the best travel card on the market? Let’s review.
Why Capital One Venture Rewards is a great card
Based on a combination of factors we’ll go over below, the answer is an emphatic yes, with the caveat that you have to have excellent credit in order to qualify for the card.
The Venture Rewards is a very strong card for those with excellent credit, with a floor rate of 13.24%. Every other top rewarding card has floor rates of 15% and higher.
Most of the high-paying travel rewards cards have an annual fee, and the Venture Rewards does too. However, for the first year, the fee is waived, and it is $59 per year after that, with the lowest annual fee we found among cards that offered a comparable rewards levels.
What good are travel rewards if you are so restricted it’s next to impossible to use them? Again, Venture comes in tops, because it lets cardholders redeem rewards at any hotel or airline, anytime, with no blackout dates.
Bonus to new cardholders
This is where the Venture Rewards stands out, offering a staggering 40,000 miles, which is a $400 value to new cardholders. The catch is you will need to spend $3,000 in the first 3 months in order to earn this bonus.
Foreign transaction fees
The Venture Rewards card charges no foreign transaction fees. Based on the categories that we measure travel cards, the Capital One Venture Rewards comes in first overall by a pretty hefty margin.
The Venture Rewards card came out on top among travel cards with its large initial bonus, 2x rewards first-year fee, no foreign transaction fees, redemption flexibility, and lower floor APR.
But it does charge an annual fee, although it’s lower than other offerings. It requires good to excellent credit.