Capital One® Venture® Rewards Credit Card and Capital One® VentureOne® Rewards Credit Card are both popular credit cards for those of you who travel frequently as they have many excellent benefits for frequent travelers. You may be wondering which card is better for you, so here I'll try to help you by comparing these 2 cards together. The main difference between the two cards is that the Capital One® Venture® Rewards Credit Card gives you 2 miles for every dollar spent and has a $59 annual fee (no annual fee for the first year), while the Capital One® VentureOne® Rewards Credit Card gives you 1.25 miles for every dollar spent but has no annual fee.
First, a look at what both cards have in common:
Receive a signing bonus when you spend a certain amount on purchases within the first 3 months.
Earn unlimited miles and miles never expire. The more you spend on your card, the more miles you will earn, without any maximum limit. Since your miles don’t expire, there’s no urgency for you to redeem your miles before any expiration date.
Redeem your miles for travel expenses, such as air tickets, hotel accommodation, auto rentals, and more. You can travel at any time, with no blackout dates and no advance booking is required. Simply pay for your travel booking with the card, and then redeem your miles online or by phone to be reimbursed for your purchase. To calculate how much your miles are worth, simply cut off the last two zeros. For example, if you have earned 22,300 miles, you've earned a $223 flight, or a $223 hotel room, or a $223 car rental. Your account will be credited for the travel purchase, and you will see that credit on your statement.
You can also redeem your miles for cash or merchandise. If you don’t intend to travel, you also have the choice to redeem your miles for cash back, merchandise, etc. This redemption flexibility stands out as one of the top benefits of this card.
No foreign transaction fees. This is a great benefit especially for those who travel abroad frequently or make purchases over the internet as you won't have to pay any foreign transaction fees when you pay in another currency using your card. Most card issuers charge around 3-5% as a foreign transaction fee, so this will result in additional savings for you!
No introductory 0% APR on balance transfers. You’ll start off with a variable balance transfer APR of either 12.9%-22.9% (Capital One Venture) or 11.9%-21.9% (Capital One VentureOne) depending on your credit score. Since there’s no 0% intro APR on balance transfers, you should only shift your existing card debts to either card if you are paying a higher interest rate than the one charged on this Capital One card. If you wish to transfer a balance, check out our 0% balance transfer cards.
No balance transfer fee. Unlike most other banks in the U.S. that charge a balance transfer fee when you transfer an existing card debt to another card, both cards do not charge any balance transfer fee. However, since both cards don't offer any 0% introductory APR on balance transfers, you should only do a balance transfer if you are currently paying a higher interest rate than the variable APR of 12.9%-22.9% on balance transfers you get with the Venture Rewards Card or the 11.9%-21.9% variable APR on balance transfers that you get with the VentureOne Rewards Card, depending on your credit score.
Free Extended Warranty. If you purchase a new item with this card and it comes with an original manufacturer’s warranty of 3 years or less, Extended Warranty will double the original warranty time period to up to 12 months on most items that you purchase. This is a great benefit to have as it saves you from having to purchase additional warranty from stores especially when you buy electronic goods.
Free Purchase Security. Within the first 90 days from the date of purchase, Purchase Security will replace, repair, or reimburse you for eligible items paid fully with your Visa Signature card, up to a maximum of $500 per claim and $50,000 per cardholder, should your items get stolen or accidentally damaged.
$250,000 travel accident insurance. If you pay for your or your family’s travel tickets with this card, you will automatically be covered under this travel accident insurance plan in the event of death or dismemberment.
Other travel-related benefits. You get 24-hour travel assistance services which will be helpful if you require any information relating to your travel such as passports, visas, immunizations etc. If your credit card is lost or stolen, you can get an emergency card replacement. You’ll also get medical referrals and legal referrals when you are away from your home.
Travel savings and upgrades. You can get complimentary room upgrades and special discounts at certain hotels, resorts and spas with this Visa Signature card.
Get access to advance ticket sales to popular sports, film, music, and theater events with the Visa Signature card. This will be a huge advantage to those who like entertainment as you get to enjoy access to advance ticket sales and preferred seating at concerts, sporting events and hit Broadway shows, as well as movie ticket offers.
Auto rental insurance. When you rent a vehicle for less than 15 consecutive days in the US, or for less than 31 days outside the US with this card, you will be covered against accidental damage or theft of your rented vehicle. To be covered, you must decline the rental company’s collision/damage waiver. This insurance doesn’t apply to vehicles rented in Israel, Jamaica, the Republic of Ireland, or Northern Ireland.
Lost luggage reimbursement. If you pay for the full costs of your travel for yourself and your immediate family members with the Visa Signature card, you will be covered automatically for lost luggage due to theft or misdirection by the common carrier. You will be reimbursed up to $3,000 per trip.
Enjoy free access to your monthly credit score at any time as well as automatic alerts through the 100% free Capital One® Credit Tracker.
Round-the-clock concierge service. This is a complimentary service to Visa Signature cardholders which you can use if you need assistance in booking any events, buying someone a gift or making restaurant reservations.
$0 Fraud Liability. This ensures that you won’t be obligated to pay for any unauthorized transactions on your card if your card is lost or stolen.
Now let's have a look at the differences between these two cards:
Capital One® Venture® Rewards Credit Card:
Receive a one-time bonus of 40,000 miles after you spend $3,000 on purchases within the first 3 months of card membership. These bonus points are worth $400 in travel.
Earn 2 miles for every $1 spent on any purchase. For any purchases you make with this Capital One Venture Card, you will always receive unlimited 2 miles per every $1 you spend. Earning double miles on everything ensures an ultra fast accumulation of miles which you can later redeem for a variety of rewards!
No introductory 0% APR on purchases. This card has a variable purchase APR of 12.9% - 22.9% variable APR, depending on your credit score.
After the first year, you will have to pay an annual fee. After the first year of having this card, you'll have to pay an annual fee of $59. You will have to spend at least $3,000 a year on your card just to cancel out this annual fee, which means that any amount in excess of $3,000 will be your upside. If you are going to spend more than $3,000 on your card in a year, the annual fee will be very worth it since you will earn double miles on everything you spend on. For example, if you spend $12,000 in a year on your card, your upside will be $9,000 x 2 miles = 18,000 miles (after factoring in the 6,000 miles to cancel out the annual fee), which can be redeemed for a $180 travel credit.
Capital One® VentureOne® Rewards Credit Card:
No annual fee. You will be able to enjoy all the attractive benefits of this card for free without having to pay an annual fee.
Receive a one-time bonus of 20,000 miles when you spend $1,000 on purchases within the first 3 months. This is worth $200 in travel. Even if you only spend $333.34 on purchases during each of the 3 first months you have this card you will receive this signing bonus.
Earn unlimited 1.25 miles per every $1 spent on any purchase. For any purchases you make with this card, you will receive 1.25 miles per every $1 you spend. This is a good offer as some other rewards credit cards only give you 1 mile for every $1 spent, and in this case, you get 25% more miles per dollar.
Low intro APR on all your purchases till December 2016. You will enjoy the benefits of having a 0% intro APR on purchases until December 2016, after that you will have to pay a 11.9% - 21.9% variable APR depending on your credit score. This is a great promotion for new sign-ups as it means that you will be able to make a big purchase and have the option to repay it interest-free before December 2016. The sooner you sign up, the more you'll get of the 0% intro period.
Low ongoing interest rates. The variable APR on purchases and balance transfers is 11.9% - 21.9% variable APR, depending on your credit score. So if you have an excellent credit score you may qualify for the lowest rate of 11.9% (variable). You only incur interest charges if you don't pay your bills in full by the due date every month, otherwise, you don't pay any interest at all.
Capital One® Venture® Rewards Credit Card is a great rewards credit card since it gives you 2 miles per $1 spent on any purchases, which is more miles per dollar than what many other travel rewards cards offer. This card was named the most rewarding card for airline flights in Money Magazine. It does have an annual fee of $59 after the first year with no annual fee, so if you are planning to spend less than $3,000 a year on the card, you should probably opt for the Capital One VentureOne Rewards Credit Card which gives you 1.25 miles per $1 spent on any purchases (25% more miles per dollar compared to that offered by many other rewards cards) and has no annual fee.
Note that only Capital One® VentureOne® Rewards Credit Card has a 0% intro APR on purchases until December 2016 (11.9% - 21.9% variable APR after), which is a good offer for those who plan to take advantage of the interest-free period to make a big-ticket item purchase. The sooner you sign up for this card, the longer your 0% intro APR duration will be! Plus, you will receive a one-time bonus of 20,000 miles, worth $200 in travel, after spending $1,000 on purchases within the first 3 months.
Ivan Daniel is a writer at GET.com, a personal finance website. Email: email@example.comEditorial Disclosure: The editorial content on this page is not provided by any of the companies mentioned, and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are author's alone, not those of the companies mentioned, and have not been reviewed, approved or otherwise endorsed by any of these entities.
At GET.com it's all about your saving and getting experience. There's nothing more helpful for all of us Getters than a true life experience, a tip or a trick relating to a reviewed product. Read more about comments.