Capital One VentureOne Credit Card Review (2015.8 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. How to redeem the miles: You can redeem the miles for statement credit to cover travel expenses at a fixed ratio 1 cent/mile. You can also redeem the miles for some gift cards at a fixed ratio 1 cent/mile. You can also redeem for cash, but the ratio is very low.
  4. No foreign transaction fee.
  5. No annual fee.

Disadvantages

  1. Capital One will pull all three major credit bureaus (Experian, TransUnion, Equifax) for one credit card application!
  2. The reward rate of this card is not impressive.
  3. The reward point is called “mile”, but don’t be fooled, it cannot be transferred to any airlines mile.

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 highlight of Capital One Quicksilver Rewards Credit Card is that it has No Foreign Transaction Fee AND No Annual Fee. However, BoA Travel Rewards Credit Card have the feature, but it has the same $200 sign-up bonus and a higher 1.5% cashback, so there’s no reason to apply for this Capital One card. At the same time, you should be careful since 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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