Capital One VentureOne Rewards Credit Card Review (2019.7 Update: 20k Offer)

Capital One VentureOne Rewards Credit Card Review

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Benefits

  1. 20k offer: earn 20,000 miles after spending $1,000 in first 3 months. The value of the miles is $200.
  2. Earn 1.25x miles on all purchases.
  3. Earn 10x miles on thousands of hotels, through January 2020; learn more at hotels.com/venture .
  4. How to redeem the miles:
    1. [New] You can transfer them to partner airline miles, the ratio for most of them is 2:1.5, including: AV, AC, CX, etc.
    2. You can redeem the miles for statement credit to cover travel expenses at a fixed ratio 1 cent/mile.
    3. You can also redeem the miles for some gift cards at a fixed ratio 1 cent/mile.
    4. You can also redeem for cash, but the ratio is very low, only 0.5 cents/mile.
  5. No foreign transaction fee.
  6. No annual fee.

Disadvantages

  1. Capital One will pull all three major credit bureaus (Experian, TransUnion, Equifax) for one credit card application!

Recommended Application Time

  1. We recommend you apply for this card after you have a credit history of at least two years and you are very comfortable with the credit card game.
  2. [1/6 rule] You can only apply for 1 Capital One credit card for every 6 months, including both personal and business credit cards. You will get automatic denial if you violate this rule, but there will be no hard pull.

Summary

The sign-up bonus is decent for a no annual fee card. It is also good that this card has no Foreign Transaction Fee (FTF) AND no annual fee. However, a similar card BoA Travel Rewards Credit Card is better in most aspects. There is also a card PayPal Cashback Mastercard, which earns 2% cashback on everything with no annual fee and no FTF (though it does not have any sign-up bonus). You should also be careful that Capital One will pull all three major credit bureaus (Experian, TransUnion, Equifax) for one credit card application (see Characteristics of Major Banks for more details).

Historical Offers Chart

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