Benji Stawski is a former reporter for the site, covering all things points, miles, credit cards, travel and aviation.
Stella ShonStella is a full-time writer with expertise in credit cards, points and miles, and all things travel. She is a journalism graduate of the University of North Carolina, Chapel Hill and previously worked as a copywriter at JetBlue Airways and as a credit cards writer at LendingTree.
May 31, 2024 8 min read
The cards we feature here are from partners who compensate us when you are approved through our site, and this may impact how or where these products appear. We don’t cover all available credit cards, but our analysis, reviews, and opinions are entirely from our editorial team. Terms apply to the offers listed on this page. Please view our advertising policy and product review methodology for more information.
The no-annual-fee Capital One VentureOne Rewards Credit Card (see rates and fees) offers the same great redemption options as its sister cards, the Capital One Venture Rewards Credit Card and the Capital One Venture X Rewards Credit Card — but with a lower rewards rate and fewer perks. The miles earned on the card can be transferred to Capital One's 15-plus airline and hotel partners or redeemed directly as a statement credit on eligible purchases. Card Rating*: ⭐⭐⭐
No matter which card from the Capital One Venture family you choose, all three options offer simple earnings structures, 15-plus airline and hotel transfer partners and easy-to-use rewards.
For those who like a straightforward option for earning and redeeming rewards, you can also use your miles to "pay" back travel purchases charged to your card in the past 90 days.
It has no annual fee and TPG recommends a credit score of 670 or higher.
If you're unsure about paying an annual fee, consider the Capital One VentureOne Rewards Credit Card.
The Capital One VentureOne Rewards comes with a sign-up bonus of 20,000 bonus miles once you spend $500 within the first three months from account opening. Based on TPG valuations that peg Capital One Venture miles at 1.85 cents apiece, this sign-up bonus is worth $370.
That's significantly less than the Venture card's bonus, which is currently 75,000 miles after you spend $4,000 on purchases within the first three months of account opening. This welcome bonus is valued at $1,388 by TPG.
However, the 20,000-mile bonus is still higher than what many other no-annual-fee cards offer (see rates and fees). Additionally, the spending requirement for the VentureOne card's bonus is much easier to meet than the Venture card, with it requiring just $500 in spending.
Daily Newsletter Reward your inbox with the TPG Daily newsletter Join over 700,000 readers for breaking news, in-depth guides and exclusive deals from TPG’s expertsThe VentureOne card comes with the standard suite of World Elite Mastercard travel and shopping benefits, including:
In addition to these World Elite Mastercard perks, the VentureOne is among the few no-annual-fee cards with no foreign transaction fees (see rates and fees), making it a great option to use outside of the U.S. Benefits are only available to accounts approved for the World Elite Mastercard card, and terms apply.
The VentureOne earning scheme is similar to the $95-a-year Venture card (see rates and fees) but with a slightly lower return on everyday spending.
You'll earn a flat 1.25 miles per dollar on everyday purchases, which equates to a solid 2.33% return using TPG valuations. While decent, it isn't the best return for everyday spending. However, the benefit of an unlimited earning rate is that you don't have to keep up with multiple bonus categories — exchanging simplicity for maximizing value.
Plus, if you are booking hotels and rental cars through the Capital One travel portal, you'll earn 5 miles per dollar on those reservations — a solid 9.25% return.
You have a few options when it comes to redeeming Venture miles.
The most straightforward way is to use them to pay for eligible purchases as a statement credit. This allows you to sign in to your Venture Rewards online account and redeem miles at a flat 1 cent apiece for a statement credit against eligible travel purchases you've made with the card in the last 90 days.
This includes many travel expenses that traditional miles won't cover, from Uber rides to Airbnb stays. There are no award charts, blackout dates or minimum redemption amount.
However, to get more value from your sign-up bonus, you could be like TPG credit cards editor Emily Thompson and try the more advanced redemption option — maximizing Capital One's transfer partners.
This redemption option is slightly more advanced than just redeeming against charges at a fixed value, but it's not as difficult as it sounds. We have plenty of guides that will teach you how to best redeem your miles using transfer partners:
If this card sounds pretty appealing, know that there are actually several no-annual-fee cards that compete with the VentureOne, plus its older sibling:
For additional options, check out our full list of the best no-annual-fee cards.
The VentureOne (see rates and fees) is a solid no-annual-fee option for those who still want a healthy sign-up bonus, reasonable perks and the ability to transfer points and miles directly to travel partners. However, you can get a higher earn rate on everyday purchases by getting a Venture card with an annual fee.
In addition to its perks and sign-up bonus, the Capital One VentureOne Rewards Credit Card also beats other no-annual-fee cards for perks such as no foreign transaction fees (see rates and fees). It's a budget-friendly option for Capital One fans and frequent travelers alike.
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.
Featured image by WESTEND61/GETTY IMAGESEditorial disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.
