Capital One® Venture® Rewards Credit Card Complete Guide

The Capital One® Venture® Rewards Credit Card makes for a unique one-card solution in that it offers the best of both worlds: earn 2x “miles” on all purchases and then redeem those “miles” for paid travel at a reasonable rate of return or transfer those “miles” to airline partners. While there are credit card combinations from other issuers that can offer greater returns, the Capital One Venture card likely appeals the most to those looking for one card to keep on hand for all purchases. In fact, the simplicity of being able to use one card to earn rewards and travel any time is why this card (along with its business twin: Spark Miles for Business) topped the list in our post answering the question: What is the best credit card?. This guide contains everything you need to know about the Capital One Venture Rewards credit card.

Capital One Venture Application Tips

Capital One Application Tips


  • 6 month rule: Must wait 6 months after applying for a Capital One card before applying for another one.

  • 2 card limit: You can have at most 2 Capital One consumer cards

  • Get Same Card Again: There is no known rule against getting the same card and bonus again even if you still have the card open.

  • Hard inquiries usually get issued through all 3 credit bureaus


To check application status, call (800) 903-9177 or (877) 277-5901
If denied, call reconsideration here: (800) 625-7866

Should you apply?

This is a decent travel rewards credit card with good “everywhere” rewards. Earn 2 miles per dollar for all spend. Miles are worth 1 cent each when redeemed for travel. Simply use the card to pay for any travel expenses, and then log onto your account and apply miles to offset your statement charges.

Things get more interesting now that Capital One Miles are transferable to airline miles. Since the transfer ratio is 2 to 1.5, you can think of this card as earning your choice of 2% everywhere OR 1.5 airline miles everywhere.

It is worth noting that Capital One is known to pull from all three bureaus for new applications, resulting in hard inquiries on all of them. Anecdotally, some have reported being approved with a single report frozen.

Are you eligible?

Capital One allows at most 2 Capital One consumer cards and you must wait six months before applying for another card.

However, beyond those rules, Capital One also tends to be less likely to approve those who have opened many credit cards with other issuers. There is no known rule as to how many is too many, but those who regularly open rewards credit cards are likely to have difficulty being approved.

How to apply

You can find the current best welcome bonus offer and application link at the top of this page: Capital One® Venture® Rewards Credit Card.

Application status

After you apply, call (800) 903-9177 or (877) 277-5901 to check your application status.

Reconsideration

If your application is denied, we recommend calling for reconsideration (800) 625-7866. It’s surprising how often denials can be changed to approvals just by asking, though note that Capital One is unlikely to approve those with many open credit cards.

Capital One Venture Rewards Credit Card Perks

Capital One “Miles”

Capital One calls its rewards currency “miles”, though really it is like other transferable currencies in that it offers the ability to redeem towards travel or to transfer to airline miles as follows:

  • Redeem Points $0.01 each toward travel: Points are worth 1 cent each toward travel and can be used to “erase” a broad range of travel purchases (including flights, lodging, ride shares, cruises, and more) within 90 days of purchase.
  • Transfer Points to Partners: Points can be transferred one to one to a number of airline loyalty programs. Capital One “miles” transfer to most airline partners at a rate of 2 Capital One “miles” to 1.5 airline miles, though some offer a worse ratio of 2:1. Transfer bonuses sometimes improve these ratios.

Travel Protections

  • Auto Rental Coverage: Capital One offers secondary auto rental CDW (collision damage waiver), which means that it acts as supplemental insurance to your personal car insurance if you have any (if you do not have car insurance, it acts as primary CDW). Here’s the description directly from Capital One: “Rent an eligible vehicle with your credit card and you can be covered for damage due to collision or theft.”
  • Travel Accident Insurance: When you charge the entire cost of the passenger fare(s) to your card, you, your spouse and unmarried dependent children will be automatically insured up to $250,000 against accidental loss of life, limb, sight, speech or hearing while riding as a passenger in, entering or exiting any licensed common carrier.

Global Entry or TSA Pre-Check credit

  • Receive up to $100 credit for Global Entry or TSA Pre® when you use your Venture card. Get one statement credit every four years.

Purchase Protection

  • Extended Warranty: “Doubles the time period of the original manufacturer’s written U.S. repair warranty up to one (1) additional year on eligible warranties of three (3) years or less for items purchased entirely with your eligible Visa Signature card.”

Capital One® Venture® Rewards Credit Card Earn Points

Welcome Bonus

This card earns Capital One “miles”. Here’s the current welcome offer:

Refer Friends

Capital One occasionally sends out targeted email offers to refer friends and receive a bonus for each referral.

Bonus Spend

Capital One Venture Rewards Credit Card
Base
Earning rate: 2X everywhere

Capital One® Venture® Rewards Credit Card offers 2X everywhere with no current bonus categories.

Capital One® Venture® Rewards Credit Card Redeem Points

Cash Back

Cash back is the poorest use of Capital One “miles”. This is because if you redeem for cash back, whether as a statement credit or via check, you’ll only receive half the value of travel redemptions: just 0.5 cents per “mile”. If you are looking for cash back rewards, there are much better options on the market.

Travel

Redeem points for paid travel: 1 cent per "mile"

Capital One "miles" can be redeemed for paid travel at a rate of 1 cent per "mile". Travel purchases can be "erased" by redeeming miles within 90 days of purchase. Note that Capital One keeps a fairly broad definition of travel, with things like flights, hotels, Airbnb, ride shares, cruises, and more qualifying. There is no minimum redemption if you are covering the charge completely with your "miles". If you are redeeming for a partial credit toward a travel purchase, the minimum is 2,500 miles. Also keep in mind that Capital One allows you to combine miles earned on each of their miles-earning cards as well as transfer to other cardholders with eligible miles-earning cards.

Some customers get "special hotel offers"

Capital One "miles" can be redeemed for gift cards for many popular merchants. Some cardholders with older Capital One miles-earning cards may additionally have the ability "Get Special Hotel Offers". If you happen to have a card with this option, you can redeem 64,250 Capital One "miles" for a $900 gift card with select hotel chains. See this post for more detail.

Transfer points

Capital One miles are transferable to a number of airline partners. Most miles transfer at a ratio of 2 to 1.5 (1,000 Capital One miles transfers to 750 airline miles), but some transfer 2 to 1 (1,000 Capital One miles to 500 airline miles).  Capital One plans to add more transfers partners on an ongoing basis.

Transfer to another Capital One miles-earning card

Capital One allows you to combine miles earned from all of your Capital One miles-earning credit cards. Additionally, Capital One allows transfers to any other cardholder who has a miles-earning Capital One card. This makes it very easy to combine miles to redeem for a valuable award.

Transfer Partners

Rewards ProgramBest Uses
Accor Live LimitlessUse to pay hotel bill with value of 2 Euro cents per point. In some cases (such as hotel to airline transfer bonuses) it may make sense to convert Accor points to the following airline miles at a 1 to 1 ratio: Finnair, Iberia, Qantas, or Virgin Australia
AeroMexico ClubPremierAeroMexico is a SkyTeam partner. Club Premier points can be used to book flights on AeroMexico, SkyTeam alliance members (such as Delta or Korean Air), or on select partner airlines. Unfortunately many have reported that awards are extremely difficult to book through AeroMexico so we do not recommend transferring points to this program. If you want to fly AeroMexico, look to transfer points to another SkyTeam partner such as Air France or Delta and then book AeroMexico with one of those programs.
Air Canada AeroplanRedeem for Star Alliance flights. Multiple stopovers allowed on international flights. Reasonable award prices to Europe for business and first class.
Air France KLM Flying BlueMonthly Air France Promo Awards often represent very good value. Air France miles can be used to book Sky Team awards, including Delta awards.
Alitalia MilleMigliaAlitalia is a member of the SkyTeam alliance. Unfortunately, fuel surcharges can be quite high, and partner awards cannot be booked online. Worse, after numerous devaluations, few sweetspots exist in this program.
Avianca LifeMilesAvianca LifeMiles can be great for Star Alliance awards. They offer reasonable award prices and no fuel surcharges on awards. They also offer shorthaul awards within the US (for flying United, for example) for as few as 7,500 miles one-way. Best of all, their mixed-cabin pricing can lead to fantastic first-class award prices. See this post for details.
Cathay Pacific Asia MilesCathay Pacific has a fairly generous distance based award chart and allows multiple stopovers. Fuel surcharges can be very high on certain routes. Cathay Pacific Asia Miles can be a good option for booking American Airlines flights with a distance based award chart, especially if other OneWorld Alliance miles aren't available.
Emirates SkywardsEmirates has different award charts for each airline partner. Sometimes they allow one-way awards, sometimes they do not. In general, award prices are fairly high, but there are a few sweet spots such as New York to Milan for 90K round trip in business class.
Etihad GuestEtihad has a very competitive award chart for American Airlines flights, among others.  For example, they charge only 50,000 miles one-way for business class flights from North America to Europe. Partner awards must be booked over the phone.
EVA Air Infinity MileageLandsIf you want to fly one of the best business class products in the sky, the best way to snag EVA flights is with their own miles since they release more award space to their own members. One-way business class flights from the US to Taipei cost 75K to 80K miles. Fuel surcharges are very low on these routes.
Finnair Plus+Award prices are quite high compared to competing programs. Interestingly, miles can be exchanged for tier points (towards elite status).
Hainan AirlinesI’m not aware of any great uses for Hainan miles
JetBlueJetBlue points offer the most value when cheap ticket prices are available and when award taxes are high relative to the overall cost of the ticket (more details can be found here). The JetBlue Plus Card and the JetBlue Business Card offer a 10% rebate on awards, so you can get more value by holding one or both cards.
Qantas Frequent FlyerBest use is probably for flights on El Al with no fuel surcharges. Also useful for short AA flights. Qantas offers distance based award charts similar to Cathay Pacific. Both are OneWorld Alliance members. I recommend comparing award prices across both programs before transferring to either. Qantas offers round the world business class awards for only 280,000 points (but with many restrictions)
Qatar Privilege ClubGiven Qatar's award chart devaluation plus the addition of award booking fees in May 2018, I'm not aware of any particularly good uses for these miles.
Singapore Airlines KrisFlyerUse to book Singapore Airlines First Class awards (generally reserved for their own members) or for Star Alliance awards. Low change fees and no close-in booking fees make this a very good program for booking United Airlines flights.
WyndhamWyndham often allows booking multi-room suites for the same price as a standard room. It's sometimes possible to get great value from points in that way.

Other ways to redeem points

Capital One "miles" can be redeemed to erase travel purchases or transferred to airline partners. Additionally, they can be redeemed for gift cards or travel booked through the Capital One travel portal.  You'll usually get 1 cent per point value when redeeming for gift cards or travel booked through Capital One, but you'll only get half a cent per point in value when redeeming for cash back as a statement credit or via check.
You can also use points to pay some merchants directly (for example: Amazon.com).  Don't do this.  These options offer poor value. Further, they may compromise the security of your account (i.e. if someone hacks into your Amazon account, they might spend your Capital One "miles" - causing you a headache in getting your points reinstated).

Capital One® Venture® Rewards Credit Card Manage Points

Combine Points Across Cards

If you have multiple cards that earn Capital One "miles", you can freely combine those miles via your online account. This can be useful when you want to put together the miles for a valuable redemption in a single account.

Share Points Across Cardholders

Capital One allows cardholders to share points with any other customer who has a credit card that earns Capital One miles. There are no annual caps or limitations. To share points with another cardholder, you will need that person's credit card number. Simply call the number on the back of your card to initiate the transfer. Capital One miles transfer to other customers instantly.

How to Keep Points Alive

Thankfully, it is very easy to keep Capital One "miles" alive: simply keep the miles in an open Capital One miles-earning account and they will not expire. Note that if you close a Capital One miles-earning card, you will lose any miles associated with that card. You should either redeem your miles or move them to another card that will remain open as per the sharing section above before canceling.

Capital One® Venture® Rewards Credit Card Lifecycle

How to meet minimum spend requirements

Once you are approved for a Capital One card, you have three months to meet the required spend in order to get the signup bonus. If your usual spend isn’t enough, check out this resource to find many more options for increasing credit card spend.

Keep, cancel, or product change?

Is this card worth keeping in the long run? If you are looking for a simple one-card solution that offers a reasonable return on everyday purchases, it might be. With a baseline redemption of 2 cents per dollar spent and the ability to also transfer to airline partners, this card offers just enough flexibility to make it worth considering as a lone card solution. However, keep in mind that there are long-term options on the market to earn 2% cash back with no annual fee and several cards that are even better in the first year. There are alternatively cards that offer bonus categories for more miles per dollar. The Venture card’s strength is in offering a combination that is less common in a single card.

Related Cards

Capital One miles Consumer Cards

Capital One Venture One Credit Card

FM Mini Review: Decent welcome bonus for a fee-free card, but other cards offer better rewards for ongoing spend.


Card Type: Visa Signature or Platinum

Base
1.25X
(1.31%)

Earning rate: 1.25X everywhere

Noteworthy perks: Redeem miles for travel at value of 1 cent per mile ⚬ Convert "miles" to airline miles at a (mostly) 2 to 1.5 ratio ⚬ No foreign transaction fees

Capital One Venture Rewards Credit Card

FM Mini Review: This card earns 2 "miles" per dollar, which are worth exactly 1 cent each toward travel. This makes the return on spend similar to a 2% cash back card (though in this case you must redeem your miles to offset travel in order to get 1 cent per mile). One big advantage over cash back: Capital One allows transfering their "miles" to airline miles at a 2 to 1.5 ratio.


Card Type: Visa Signature

Base

Earning rate: 2X everywhere

Noteworthy perks: Receive up to $100 application fee credit for Global Entry or TSA Pre✓® ⚬ Redeem miles for travel at value of 1 cent per mile ⚬ Convert "miles" to airline miles at a (mostly) 2 to 1.5 ratio ⚬ No foreign transaction fees

Capital One miles Business Cards

Capital One Spark Miles Business Credit Card
50K "miles"
One time bonus: 50,000 Capital One miles after $4.5K spend in 3 months

No Annual Fee First Year, Then $95

Info about this card has been collected independently by Frequent Miler. The issuer did not provide the details, nor is it responsible for their accuracy.

Recent better offer: Earn up to 200K "miles": 50K after $5K spend in the first 3 months from account opening and an additional 150K after $50K spend in the first 6 months from account opening [Expired 1/27/20]

FM Mini Review: This card is basically the same as the Spark Cash for Business, but rewards are intended to be used to offset travel purchases. One big advantage over cash back: Capital One allows transfering their "miles" to airline miles at a 2 to 1.5 ratio and "miles" can be combined with other cards or other customers.


Card Type: Mastercard

Base
Travel

Earning rate: 2X everywhere ⚬ Earn 5X miles on hotel and rental car
bookings through Capital One Travel

Noteworthy perks: Redeem miles for travel at value of 1 cent per mile ⚬ Convert "miles" to airline miles at a (mostly) 2 to 1.5 ratio ⚬ No foreign transaction fees ⚬ Fee credit for either $85 TSA Pre✓® application fee or $100 Global Entry application fee

Capital One Spark Miles Select Business Credit Card

FM Mini Review: This card is basically the same as the Spark Cash Select for Business, but rewards are intended to be used to offset travel purchases. This is a good option for business owners who prefer simple rewards with no annual fee, and who value free travel over cash back. If you spend more than $19K per year, though, go for the 2X Spark Miles card.


Card Type: Mastercard

Base
Travel

Earning rate: 1.5X everywhere ⚬ Earn 5X miles on hotel and rental car bookings through Capital One Travel

Noteworthy perks: Redeem miles for travel at value of 1 cent per mile ⚬ Convert "miles" to airline miles at a (mostly) 2 to 1.5 ratio ⚬ No foreign transaction fees

Last updated on January 15th, 2020

About Nick Reyes

Nick Reyes is a (fairly) regular guy with an animalistic passion for maximizing the value of miles and money to travel the world in comfort and style. There is little in life that he loves more than finding a fantastic deal and helping you shop smarter & harder to achieve your travel dreams.

More articles by Nick Reyes »

Regarding comments: Comments posted at the bottom of Frequent Miler pages and posts are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser’s responsibility to ensure all posts and/or questions are answered.

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Jimbob
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Jimbob

I was approved for the Venture One and the welcome email didn’t mention anything about a bonus. So I called to confirm and they told me since i had this card 5 years ago I was not eligible for the bonus on this card or any Cap one cards. Is this normal?

Iserratu
Guest
Iserratu

Cap 1 does have a referral program, I have received a couple of emails with a referral link: get $100 for each friend you refer, up to $500.
With the following description(perhaps targeted):
The Referral Bonus Program (Program) is non-transferable and open to account holders with an eligible Venture card in good standing. For a bonus to be paid, the person referred must apply through the link provided and be approved for an eligible card during the program period. Existing or returning account holders will not be included in the Program. Bonus is paid as a statement credit, subject to the maximum bonus cap, and may be taxable income.

Bill
Guest
Bill

I got this also.

FreeIsGood
Guest
FreeIsGood

Would be good to mention the frequency of denials when it comes to Cap1 and that they hit all three credit bureaus. I have had 800+ credit forever and have only been denied for 3 credit cards and 2 were Cap1.

CaveDweller
Guest
CaveDweller

Tanks I have been denied 4x by them and 3x by BOA my FICO is 815 ..Me and my GI were laughing @ that Banks Do What They Want ..
CHEERs

Marshall
Guest
Marshall

Please don’t let them do what they did to me!!!!
I used there card one time and paid off the balance before I even got the bill from the billing department, the next thing I know they are sending me a bill for late charges and saying I had not paid it.
This people are thieves, they will lie to you and just try to steal your money.
I am going to post the truth about Capital One everywhere and anytime I can to keep others from getting robbed.

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[…] but the cost per mile traveled is impressively cheap. Those with flexible points on a card like the Capital One® Venture® Rewards Credit Card or the no-long-er-available Barclays Arrival Plus could do better than those looking to redeem […]