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Capital One Venture Card Review – A Very Good Miles Card

Capital One Venture Card ReviewThe Capital One Venture Card is one of the most prominently advertised credit cards on TV.  It also happens to be one of the better miles credit cards on the market today. Venture card users earn two miles for every dollar they spend. Unlike standard frequent flyer credit cards, the miles you earn with the Capital One Venture card can be used on most airlines and don’t require having to deal with complicated frequent flyer programs. The only major drawback to this card is the annual fee of $59 which is waived the first year.

Who Can Benefit Most from the Capital One Venture Card

Credit card users who spend heavily on their cards and don’t carry balances from month to month can reap the most benefits from the Venture Card.  Every dollar spent earns two miles. These miles can be redeemed at a value of one cent per mile to pay for flights on most airlines without any restrictions.

The key to making this card work for you is to use it wherever credit cards are accepted to rack up as many miles as possible, then pay your bill in full every month to avoid interest charges. A person who spends $10,000 a year can earn 20,000 miles. Once the annual fee is subtracted, this translates into $140 worth of rewards. A person who spends $20,000 a year earns 40,000 miles. This is worth $340 after the annual fee is taken into consideration.

The ability to earn double miles on every purchase and then use those miles on any airline is what sets the Capital One Venture card apart from most other airline credit cards. This is an ideal rewards card for high spenders and, even with the annual fee, offers the opportunity to earn more miles than just about every other frequent flyer card currently available.

To learn more about these and other benefits, please see the online application.

Who Benefits the Least from the Capital One Venture Card

If you don’t use your credit card frequently, the $59 annual fee can really eat away at the value of your rewards. For example, a person who only charges $5,000 a year earns 10,000 miles. Once the annual fee is subtracted, this leaves you with $40 worth of rewards. This is less than you can earn with Capital One’s no annual fee VentureOne card, which offers 1.25 miles for every dollar spent and also offers a 0% introductory rate on purchases.  If you are not a high spender or could benefit from a 0% rate, then the VentureOne Card is a better option.

People who currently have credit card debt or intend to take on new debt in the near future are likely much better off with a 0% APR credit card that offers balance transfers. Since the Venture Card does not offer a low rate on either purchases or balance transfers, people with interest expenses can likely save more money with a 0% rate than they can earn with double miles.

Final Thoughts on the Venture Card

The Venture Card is probably the most convenient miles credit card. It offers high spenders the opportunity to earn a lot of miles without the hassle of having to deal with complicated frequent flyer programs. While the annual fee and lack of an introductory rate make this a mediocre choice for people who don’t spend heavily or carry balances from month to month, its reward program is ideal for people who want to earn miles and not be tied down to a specific airline.

For more information or to apply, please see the online application.

Editor's Note: This content is not provided by Citi. Any opinions, analyses, reviews or recommendations expressed here are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by the Citi or any of the other companies whose products are featured in this content.

About the author

Jeff Weber

Jeffrey Weber has been following and blogging about the credit card industry since 2004. He has also written for Forbes and been cited in a wide range of major media outlets including USA Today, Time, MSN Money, The Christian Science Monitor, The Detroit Free Press and numerous other prestigious online and print publications.

Jeffrey resides in Easton, Connecticut and enjoys spending his free time chasing after his two year old son, watching films with his wife and occasionally taking a holiday to go snorkeling.

– has written 338 posts.

{ 12 comments… read them below or add one }

Katie December 14, 2011 at 6:17 pm

I prefer miles on my Hawaiian Air card. 40,000 miles allows me to fly round trip from Hawaii to the mainland with 5,000 miles left. $340 cash with Venture miles would not cover that ticket. Maybe Venture works well for shorter, less expensive flights.

Reply

Jeff Weber Jeff Weber December 16, 2011 at 5:23 pm

Katie,

The Hawaiian Air card is one of the better out there. The things that make the Venture card great – I use it – are double miles, essentially 2% back, and the fact that you can redeem them at one cent per mile for any flight, hotel and even taxis.

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maria June 23, 2011 at 6:08 pm

i have been on site after venture site… how do you reddem your points for travel????

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Jeff Weber Balance Transfers Helper June 24, 2011 at 11:54 am

Maria,

You can redeem venture miles by logging into your account at Capital One or calling the number on the back of your card.

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Katie McAndrew June 6, 2011 at 5:24 pm

Just received my card and booked two tickets to Ireland. I receive 10,000 bonus miles for spending 1000.00 towards any purchase within in 3 months, which is great because it saved me basically one hundred dollars on my ticket purchase. Looking forward to the foreign exchange 0.00%. They are the only, I mean only card that has this feature. Really remarkable! Highly recommend.

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Jeff Weber Balance Transfers Helper June 7, 2011 at 10:36 am

I agree, Katie. It really is a great card for travelling and far superior to any airline specific credit card, since your miles are really cash.

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Brian April 21, 2011 at 6:07 pm

I got this card a couple months ago as well, and so far I love it. A couple of additional advantages that you didn’t quite bring up.

This card doesn’t have any foreign transaction fees, so you won’t get those annoying ticky tack fees when traveling abroad. That is AWESOME, allows you to not have to carry around hundreds/thousands of dollars in cash or traveler’s checks. Really nice piece of mind.

Also, they are affiliated with different local and chain businesses that allow you to rack up even more miles, sometimes as much as 18 additional miles on purchases you might actually buy. In store purchases are usually only 3-5 additional miles and only get up to like 10 additional points (AMC for purchases of $40 or more), but still….

Really enjoying watching my miles rack up this quickly. Definitely pretty sweet for me so far. Good review.

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Jarecki December 8, 2010 at 6:11 am

Been using this card for three months. Not a huge fan of customer service there, but I’m earning more with double miles than I was after my Chase Freedom card got “upgraded” to Chase Sapphire.

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Michael Jobs December 1, 2010 at 11:29 am

Thanks for this thorough credit card review. I was unsure about paying an annual fee for the Venture card, but my spending is high enough that I can earn a lot more than the annual fee costs me.

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James November 23, 2010 at 4:30 am

I just got the Venture Card and love it. I put all my spending on this card and estimate I’ll earn about $500 in rewards with the double miles.

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Bryanna Sills November 19, 2010 at 5:31 pm

Great post, I bet a lot of work and research went into this article.

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Jeff Weber Balance Transfers Helper November 23, 2010 at 3:54 pm

Thanks Bryanna,

I’ve been analyzing credit cards for six years, so when I do a credit card review, I focus on trying my best to explain the benefits and drawbacks of particular cards. I waited a number of months to gather feedback on the Capital One Venture card before I wrote this review to make it as comprehensive as possible. I’m glad you found it useful.

Reply

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