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The Points Guy believes that credit cards can transform lives, helping you leverage everyday spending for cash back or travel experiences that might otherwise be out of reach. That's why we publish a variety of editorial content and card comparisons: to help you find a great card to turn your goals into reality.
Our site may earn compensation when a customer clicks on a link, when an application is approved, or when an account is opened with our partners, and this may impact how or where these products appear. While we don't cover all available credit cards, our editorial team creates and maintains all of the analysis of these cards, and our content is not influenced nor subject to review by any credit card company, bank or partner prior to (or after) publication. Please view our advertising policy and product review methodology for more information.
Reviews
Capital One VentureOne Rewards Credit Card review: A budget-friendly option
Stella 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.
also contributed to this story
August 14, 2025 • 9 min read
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Editorial note: This is a recurring post, regularly updated with new information and offers.
Quick summary
A no-annual-fee travel rewards card offers flexible redemption options, including transfers to over 15 airline and hotel partners.
Cardholders can redeem miles for statement credits toward a wide range of travel purchases, with no blackout dates or minimums.
The card provides secondary auto rental insurance, extended warranty, travel assistance and no foreign transaction fees, plus complimentary elite status with a car rental program (enrollment required).
While the earning rate is lower than some alternatives, the card favors simplicity and ease of use for occasional travelers.
What to consider
Applicants are generally only approved for one card from this issuer every six months and may be ineligible for a welcome bonus if received within the past 48 months.
Miles are most valuable when transferred to travel partners rather than redeemed for cash back or gift cards, per TPG's August 2025 valuations.
Other no-annual-fee cards may offer higher earning rates or more lucrative bonus categories.
What you'll miss from the article
A detailed comparison of competing no-annual-fee cards and guidance on maximizing redemption value through travel partners.
Generated by AI with support from our editorial team.
Editorial 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.
For those who like a straightforward option for earning and redeeming rewards, you can also use your miles to cover almost any recent travel-related purchase on the Capital One VentureOne Rewards Credit Card.
If you’re unsure about paying an annual fee, consider this card since it doesn't charge one. We typically recommend applicants have a credit score of 670 or higher to increase their chances of approval.
Check out the full details of this card to determine whether it's a good fit for you.
Capital One VentureOne pros and cons
Pros
Cons
No annual fee
Decent earning rates
Bonus miles when booking travel through the Capital One Travel portal
Access to all of Capital One transfer partners
World Elite Mastercard travel and shopping benefits
No foreign transaction fees
No lounge access
Better earnings rates with other Capital One and no-annual-fee cards
Capital One VentureOne welcome offer
The Capital One VentureOne Rewards comes with a welcome bonus of 20,000 bonus miles after spending $500 within the first three months from account opening.
TPG's August 2025 valuations peg Capital One Venture miles at 1.85 cents apiece, making this welcome bonus worth $370.
That’s significantly less than the Venture Rewards card bonus, which is currently 75,000 miles after spending $4,000 on purchases within the first three months of account opening. This welcome bonus is valued at $1,388, according to TPG's August 2025 valuations.
However, the 20,000-mile bonus is still higher than what many other no-annual-fee cards offer. Additionally, the spending requirement for the VentureOne card’s bonus is much easier to meet than the Venture card, requiring just $500 in spending.
It's also important to note Capital One's application restrictions. Generally, Capital One will only approve you for one credit card every six months. Additionally, you won't be eligible for the welcome bonus if you received one on this card within the past 48 months.
In addition to these benefits the VentureOne is among the few no-annual-fee cards with no foreign transaction fees, making it especially useful for international travel.
The VentureOne earning structure is similar to that of the $95-a-year Venture Rewards, but it delivers a slightly lower return on everyday spending.
QI YANG/GETTY
You’ll earn:
5 miles per dollar spent on hotels, vacation rentals and rental cars booked through the Capital One Travel portal
1.25 miles per dollar spent on everyday purchases
These equate to a 9.3% return on spending (based on TPG's August 2025 valuations) on eligible Capital One Travel portal bookings and a solid 2.3% return on all other purchases.
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 — favoring simplicity over maximum returns.
You have a few options when it comes to redeeming Venture miles.
The most straightforward way for most cardholders is to use them to pay for eligible purchases as a statement credit. You sign in to your Venture Rewards online account and redeem miles at 1 cent each for a statement credit against recent, eligible travel purchases you’ve made with the card.
NICKY KELVIN/THE POINTS GUY
This includes many travel expenses that traditional miles won’t cover, from Airbnb stays to Uber rides. There are no award charts, blackout dates or minimum redemption amounts.
You can also redeem your miles for Amazon purchases, Capital One entertainment purchases, cash back and gift cards. However, these methods all have redemption rates of less than 1 cent per mile, so you should avoid using any of these options if you want to get maximum value out of your miles.
To get more value from your Capital One miles, you could be like TPG newsletter and partnerships editor Emily Thompson and transfer miles to travel partners.
The VentureOne is a solid no-annual-fee option for those who want a healthy welcome 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.
Bottom line
The Capital One VentureOne Rewards Credit Card offers a competitive welcome bonus, flexible travel redemptions and no foreign transaction fees, all without an annual fee. It’s a strong pick for occasional travelers or those trying out Capital One.
However, frequent travelers may prefer the higher earning rates and added perks of the Venture or Venture X.
For Capital One products listed on this page, some of the benefits may be provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply.
Upon enrollment, accessible through the Capital One website or mobile app, eligible cardholders will remain at that status level through the duration of the offer. Please note, enrolling through the normal Hertz Gold Plus Rewards enrollment process (e.g. at Hertz.com) will not automatically detect a cardholder as being eligible for the program and cardholders will not be automatically upgraded to the applicable status tier. Additional terms apply.
