Verdict: The VentureOne card has been recently overshadowed by its cousin, the Quicksilver, as well as the upgraded version, the Venture Rewards. Still, it’s a decent card with a 20,000 bonus miles offer right now that’s equal to $200 in travel. If you have great credit and want a no-nonsense travel rewards card with no annual fee, the VentureOne is worth some consideration.
As the little brother to Capital One’s “luxury” travel rewards card (see our Venture Card review here), VentureOne offers slightly fewer miles per purchase (1.25 miles for each dollar, rather than 2), but carries a slightly lower interest rate and no annual fee. As with the Venture card, you can redeem your points for travel (booked through any website or travel agency), merchandise, or a statement credit. There are no foreign transaction fees when traveling abroad, and you can choose your own card design online.
Each mile you earn is worth $0.01 towards a travel expense. For example, if you want to use your rewards for a $110 hotel room, you would need 11,000 points. The best thing about the program is you can book travel wherever you like — such as finding the best deal through a third party site like Priceline or directly through an airline — then use your rewards to offset the purchase.
You have two ways to redeem miles for travel:
- You can redeem miles for past travel purchases with Purchase Eraser. Book travel or make other eligible travel expenses with your card, then go online or call the Rewards Center to get a statement credit for the cost of the purchase. You must use Purchase Eraser within 90 days of the date your travel purchase posts to your account.
- You can book new travel reservations through Capital One, including flights, car rentals or hotel stays, using your miles to pay for the travel.
Many types of travel purchases are eligible for Purchase Eraser, including: purchases from car rental agencies, rail lines, hotels, airlines, limo services, bus lines, cruise lines, taxis, travel agents, and time shares.
You can also use your miles to redeem them for gift cards, merchandise and cash, although you’ll usually get the best deal on travel rewards.
Rewards never expire, and there is no limit to the amount of rewards you can earn. Just be aware that if your payment is late, you will lose any rewards for purchases during the billing cycle.
You will receive either a Visa Signature or Visa Platinum card, depending on your credit history and application. If your credit line is less than $5,000, you will get the Visa Platinum. Visa Signature benefits are similar to those offered with an American Express Platinum card, including:
- Complimentary travel upgrades and special savings on hotels and more
- 24-hour concierge service
- Special access and preferred seating to special events
You’ll also get these money- and time-saving benefits to provide peace of mind at home or when you travel.
- $0 Fraud Liability (if your card is lost or stolen or you are a victim of identity theft, you are not liable for charges to your card)
- 24-hour travel and emergency assistance (including card replacement)
- 24-hour roadside assistance
- Extended warranty on purchases
- Travel accident insurance
- Rental car insurance
- Shopping discounts at many top retailers and online merchants
- Complimentary travel upgrades and savings at spas, resorts and hotels
- No annual fee
- 20,000 bonus miles after spending $1,000 in 3 months (equal to $200)
- Flat 1.25x miles on all spending
- Visa Signature benefits include extended warranty and rental car insurance
- Rewards rate is lower than comparable cards
- Venture Rewards card offers better rewards for a relatively low annual fee
- Reward miles cannot be transferred
The American Express Gold card allows customers to earn 1 point per dollar spent for most purchases. Purchases at Earn Hub will allow customers to earn up to 10 points per dollar spent. Points can be spent on air travel (without blackout dates), vehicle rentals, hotel stays, cruises, vacations and much more.
Although the points program is similar to that of the Capital One VentureOne Rewards card, the American Express Gold card has better rewards in other respects. American Express Gold card holders have access to thousands of events before tickets are offered to the general public. American Express also reserves seats just for their customers to purchase at various events and offers financial protection in case a customer misses an event due to an emergency (not available to New York State residents). In general, they offer the same rewards as Capital One – plus those listed and more.
As the American Express Gold card is a charge card, there is no APR. The bill must be paid each month. However, there is an annual fee of $125 (waived in the first year) and the remaining fees are comparable with those of the Capital One VentureOne Rewards card.
Overall, most people will benefit more from the Capital One VentureOne Rewards card with no annual fee, unless you are looking for first-class benefits and you want to transfer your points to frequent flyer or frequent guest programs, in which case AmEx Membership Rewards points have a better value.
If you’re considering the VentureOne card, it’s worth comparing it to its sister, the Capital One Venture Rewards card. The cards have one obvious difference: the Venture card has a $59 annual fee that’s waived the first year while the VentureOne card has no annual fee. Both cards earn No Hassle Miles, but the Venture card usually wins out because you earn 2% back instead of 1.25%.
The more you spend, the more worthwhile the Venture card becomes. If you spend at least $8,000 a year, the Venture Rewards card will let you make back the annual fee and more. Plus, the sign-up bonus for the Venture Rewards card is doubled to 40,000 miles, or $400 in travel.
If you’re a moderate spender and you charge less than $11,800 a year, the Quicksilver may be a better option. The Quicksilver is great for those who want a simple cash back card as you’ll earn an unlimited 1.5% cash back on spending with no annual fee. There’s also a $100 sign-up bonus once you spend $500 within the first three months. This is a higher rewards rate than the 1.25x miles with the VentureOne, and you can use your rewards for more than travel expenses.