Capital One VentureOne Rewards for Good Credit review: is this travel card worth it?
Rating as of Apr. 3, 2023 based on a review of services April 5, 2023.
A lack of annual and foreign transaction fees plus the chance to earn bonus miles are strengths for this card. However, it’s not the best card for earning rewards on everyday spending.
No annual fees or foreign transaction fees
Earn bonus miles for shopping through Capital One Travel
Variety of ways to redeem miles
- $0 annual fee and no foreign transaction fees
- Earn 1.25X miles on every purchase, every day
- Travel when you want with no blackout dates and fly any airline, stay at any hotel, anytime
- Miles won't expire for the life of the account and there's no limit to how many you can earn
- Earn 5X miles on hotels and rental cars booked through Capital One Travel, where you'll get Capital One's best prices on thousands of trip options
- Use your miles to get reimbursed for any travel purchase—or redeem by booking a trip through Capital One Travel
- Transfer your miles to your choice of 15+ travel loyalty programs
The regular Capital One VentureOne Rewards Credit Card is an excellent travel rewards card that has no annual fee, but it requires a higher credit score to apply for than some avid travelers have.
That’s why Capital One rolled out its VentureOne Rewards for Good Credit. With a more lenient credit score requirement, this card also has no annual fees or foreign transaction fees. And it lets you earn unlimited miles on daily spending and bonus miles when you shop through Capital One Travel.
In our VentureOne Rewards for Good Credit review, we’re covering its pros and cons, fees, and reward options, so you can decide if this credit card belongs in your wallet.
Overview of the Capital One VentureOne Rewards for Good Credit
- Best for – Frequent travelers with good credit who also travel internationally.
- Sign-up bonus – None.
- Cash back – 1.25 miles per dollar you spend; 5 miles when spending with Capital One Travel.
- Introductory offer – None.
- APR – 29.99% (Variable).
- Foreign transaction fee – None.
- Intro balance transfer fee – None.
- Ongoing fees for balance transfers –$0 at this Transfer APR.
- Cash advance fee – 3% of the amount of the cash advance, but not less than $3.
- Annual fee – $0.
In-depth analysis of the Capital One VentureOne Rewards for Good Credit
This card pays you unlimited 1.25 miles for every dollar you spend. You also earn unlimited 5 miles per dollar you spend on hotels and rental cars you book through Capital One Travel. You can then redeem miles when you book trips through Capital One Travel or use miles for reimbursements for previous travel purchases you made elsewhere within 90 days of your purchase.
Miles are transferable to over 15 travel loyalty programs, including Air Canada, British Airways, and Emirates Skywards. Miles are worth $0.01, so if you book a travel expense that costs $300, you need 30,000 miles to cover the cost.
However, you’re not locked-in to spending points on travel. For example, you can redeem miles as a statement credit or for a variety of free gift cards. Cardholders can also redeem points when shopping on Amazon with certain Capital One cards, including VentureOne. You have to enroll your card by linking it to the Shop with Points at Amazon.com program. From there, you can redeem points against millions of Amazon products. There are some exceptions, like digital downloads and “Subscribe & Save” products, but most categories are eligible.
Finally, you can use your Capital One Rewards to pay through PayPal. This lets you convert your miles into dollars quite easily when you’re shopping online.
Note that while miles don’t expire, you lose your miles if you close your account and there isn’t a grace period to spend them.
Unfortunately, the VentureOne Rewards for Good Credit doesn’t have the same bonus as the regular Capital One VentureOne Rewards credit card, which requires excellent credit to apply. This means you still earn travel rewards but don’t earn bonus miles or the 0% introductory APR.
Read more: The best credit card sign-up bonus intro offers
This card has a 29.99% (Variable) APR for purchases and transfers. There’s also a 29.99% (Variable) APR for cash advances. The lack of an introductory 0% APR is a downside, although this travel rewards card only requires good credit, so it’s a trade-off.
According to Capital One, they determine your credit limit after a review of your application and ability to pay. And your credit line determines if you get a Visa Signature or Visa Platinum card. Both cards provide a range of perks from Visa like travel and emergency assistance and extended warranty protection. However, Visa Signature cards provide more perks like discounts at the Visa Signature Luxury Hotel Collection and certain discounts on expenses like car rentals.
Again, your credit history determines all of this, and you can find out which card you qualify for as you complete your application.
The Capital One VentureOne Rewards for Good Credit card doesn’t have an annual fee.
Balance transfer fee
This card has a APR for balance transfers. You can also pay 3% of the amount of each transferred balance at a promotional APR Capital One might offer. You don’t pay additional fees for balances transferred at the regular transfer APR.
With no annual fee or foreign transaction fees, the VentureOne Rewards for Good Credit is a fairly low-cost travel rewards card. However, you can encounter some additional fees:
- Cash advances: 3% of the amount of the cash advance, but not less than $3.
- Late payments: up to $40.
Cardholders get numerous benefits with this card from both Capital One and Visa. Several notable perks include:
- Capital One Travel: Book travel and get free price drop protection plus price matching if you find a better price within 24 hours after booking. You also get access to Capital One Lounges at airports.
- Entertainment and dining benefits: Capital One cardholders can get exclusive invites to famous restaurants and VIP packages for sporting and music events.
- Capital One Shopping: Use Capital One Shopping to automatically apply coupon codes at checkout, compare prices between merchants, and to earn shopping credits that are redeemable for free gift cards.
- Fraud liability: Cardholders get $0 fraud liability if their card is lost or stolen, so you don’t pay for unauthorized charges.
- CreditWise: Monitor your credit for free with the CreditWise app.
- Visa benefits: Enjoy benefits from Visa like emergency travel assistance, roadside dispatch, potential travel discounts, and exclusive travel offers.
Pros & cons
- No annual fee — Avoid high annual fees to save more of your money.
- No foreign transaction fees — Don’t get dinged with fees when you spend while abroad.
- Variety of redemption options — Redeem miles for statement credits, travel expenses, gift cards, and Amazon or PayPal purchases.
- Bonus miles — Earn bonus miles for booking through Capital One Travel.
- Credit requirements — This card only requires good credit to apply.
- No bonus miles — You don’t earn bonus miles or cash back for spending a certain amount as a new cardholder.
- No introductory APR — Many rewards credit cards have 0% APR rates as an introductory bonus, but this card doesn’t.
- Lackluster rewards for regular spending — Some travel rewards credit cards pay more miles per dollar you spend.
Capital One VentureOne Rewards for Good Credit vs. other travel credit cards
|Capital One VentureOne Rewards for Good Credit||Chase Freedom Flex℠||Citi Custom Cash℠ Card|
|Cash back||1.25 miles per dollar you spend or 5 miles when shopping through Capital One Travel||5% on quarterly bonus categories (up to $1,500), 5% on travel, 3% on dining and drugstore purchases, and 1% everywhere else||5% on your top spending category each billing cycle, up to $500, and unlimited 1% cash back after that|
|Intro offer||None||Earn $200 after spending $500 within your first three months||Earn $200 in cash back after spending at least $1,500 in your first six months|
|APR||29.99% (Variable)||19.74% - 28.49% Variable||18.99% - 28.99% (Variable)|
|Balance transfer fee||$0 at this Transfer APR||$5 or 5% of the amount of each transfer, whichever is greater.||Balance transfer fee applies with this offer 5% of each balance transfer; $5 minimum.|
|Foreign transaction fee||None||3% of each transaction in U.S. dollars||3%|
Chase Freedom Flex℠
The VentureOne Rewards Card for Good Credit and Chase Freedom Flex℠ card are both excellent zero-fee travel rewards cards.
VentureOne excels if you spend a lot within the Capital One ecosystem. This is because you can get 5 miles per dollar you spend through Capital One Travel, and you have numerous redemption options. Plus, the lack of foreign transaction fees makes it a better choice than the Chase Freedom Flex℠ card if you’re a frequent international traveler.
That said, Chase Freedom Flex℠ has a welcome bonus and more flexible cash back rewards. And if you maximize the quarterly 5% cash back categories, it’s potentially more lucrative than the VentureOne Rewards for Good Credit card. The intro APR rate is also a nice perk, and you can apply for this card with good credit.
Citi Custom Cash℠ Card
The Citi Custom Cash℠ card is another card with a nice intro APR offer and competitive cash back bonus on the table. And the main perk of this card is that you earn 5% on your top spending category, up to $500, for each billing cycle. Eligible spending categories include restaurants, gas, groceries, travel, streaming, drugstores, home improvement, fitness clubs, and live entertainment, so there’s plenty of flexibility.
Foreign transaction fees are a downside, so again, VentureOne is better for international travelers. But look through your previous statements and see which Citi Custom Cash℠ category would earn you 5% back. Depending on how much you spend, it could pay much more than the VentureOne Rewards for Good Credit card.Card info has been collected by MoneyUnder30 to help consumers better compare cards. The financial institution did not provide or approve card details.
Should you get a Capital One VentureOne Rewards for Good Credit card?
If you’re looking for a no-annual fee travel rewards card that also has zero foreign transaction fees, this could be the card for you. And if you take advantage of Capital One Travel to maximize your miles, it’s a fairly competitive rewards credit card.
That said, there are more flexible rewards credit cards out there that pay higher rates across more categories. Ultimately, this makes the Capital One VentureOne Rewards for Good Credit card ideal for international travelers who are still building their credit.
Read more: Best travel rewards credit cards
How do you apply for the Capital One VentureOne Rewards for Good Credit card?
You apply for this card on Capital One’s website. You have to enter personal information like your:
- Name and date of birth.
- Social Security number.
- Email and phone number.
- Employment status.
- Annual income.
- Monthly rent or mortgage payments.
For those with good credit and regular travel plans, the VentureOne Rewards for Good Credit card from Capital One is worth considering. You have to spend within Capital One’s ecosystem to make the most of your dollars, but with no foreign transaction fees and flexible reward redemptions, it’s a competitive no-fee travel rewards card.
For Capital One products listed on this page, some of the above benefits are provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply.