I don’t have this Capital One Venture Rewards card. In fact, I do not have any card issued by Capital One Bank. I constantly see it advertised on TV (think Alec Bladwin). I will apply for this card at some point and I think I would use it a lot, but I think I need to wait a few months because of all of mine and Rob’s recent acquisitions.
Why do I want this card? Well, when you use the card, you earn 2 miles per dollar on every purchase! You can then use these miles to cover any travel expense. (Airline tickets, hotel rooms, car rentals, vacation packages, etc). To see how many miles you need to cover a travel expense, just add two zeros to the cost. For example, if you booked a $217 flight, you’ll need 21,700 miles to cover it.
$217 flight = 21,700 miles
$109 hotel room = 10,900 miles
$57 car rental = 5,700 miles
Note that the redemption rates above are not as attractive as when redeeming Ultimate Rewards points with Chase and Membership Rewards points with American Express. In those programs, WITH SOME CARDS, you get 20% of your points back meaning, one Membership Rewards point equals $0.0125 incremental ticket value on travel. For example, 20,000 points can be redeemed for a $250 airline ticket. With Capital One, 20,000 points can be redeemed for a $200 airline ticket. (Also note that with the Barclaycard Arrival Plus World Elite MasterCard, a similar card, you earn 10% of your miles back as a travel redemption bonus every time you redeem for travel statement credits)
With the Capital One card, there are two ways to redeem your miles for travel. You can purchase your travel and then contact Capital One to redeem your miles for your travel. Or you can contact the Rewards Center to purchase your travel and redeem your miles.
Some other features of the card are listed below:
Fly any airline, stay at any hotel, anytime
Travel when you want—no blackout dates
Miles don’t expire and there’s no limit to how many you can earn
No foreign transaction fees
No annual fee for the first year; $59 after that
100% free Capital One® Credit Tracker—see your monthly credit score anytime and get automatic alerts
Apply for the Capital One Venture Rewards Card Here