True adventure is spontaneous, so enjoy a travel rewards card with amazing flexibility through Capital One’s “No Hassle Rewards” program. You can redeem miles (actually your familiar points with an exchange rate of 1 cent) from the Venture credit card for any travel expense, any time, from any source. No, the “miles” don’t transfer with frequent flyer programs, and thus arguably don’t always get you the best value, but you can’t beat flexibility like that. Especially if you’re the type of bargain-hound that loves to sniff around for the very best deals and sales from discounted travel sites. Not to mention that since the redemption system works by refunding your travel expense, when you book a flight it will still earn miles for your airlines’ frequent flyer programs.
Plus, this rewards credit card puts no limits and no expiration on your accumulated miles, and has no foreign transaction fee. There is also the gold little brother — Capital One VentureOne card — which has no annual fee and no interest for one year. As you would expect, this card also has a reduced rewards rate: you earn points at just 1.25 miles per $1 spent, rather than the double miles you earn per $1 spent with the Venture card. If you are planning to charge more than $7,866 to the card per year, go with the Venture.
Even more flexibility with redeeming: feel free to turn miles to cash, gift cards, or more. (The redemption rate does vary with non-travel rewards.) It’s worth noting that right now both versions of the card offer a sign up bonus of 20,000 miles after you spend $2000 in the first 3 months. This isn’t the best offer we have seen from them but it is still pretty sweet. Oh, and you can also get a customized image card. It’s the little things.
Check out our guide to the benefits below, with the [VentureOne card in brackets] when it’s different.
Money Math
- Annual Fee: $59 (waived for first year) [VentureOne: $0]
- Foreign Transaction Fee: $0
- APR: var 13.9%-20.9% [VentureOne: Intro 0% APR for 1 year]
- APR for Balance Transfers: var 13.9%-20.9%
- Balance Transfer Fee: $0
- APR for Cash Advance: var 24.9%
- Cash Advance Fee: 3%
- Late Fee/Returned Payment Fee: $35
- Over Credit Limit Fee: $0
- Penalty APR: var 29.4%
Rewards
- Bonus: 20,000 bonus miles after spending $2,000 in first 3 months
- 2 miles per $1 spent on every purchase [VentureOne: 1.25 miles per $1 spent on every purchase]
- Miles Worth: 1 mile = 1 cent, varies for non-travel redemption
- Rewards Limit: None
- Rewards Expiration: None
- Redeem Rewards For: Any travel expense, flights, vacation packages, hotel, car rental, etc. Also cash, gift cards, merchandise, and more. Do not transfer with frequent flyer programs.
- Redeem with Purchase Eraser — get reimbursed for any travel you purchased by deducting points
- Access discounts with Visa Signature card
Benefits
- $0 Fraud Liability Protection
- Purchase Protection: Yes
- Travel Insurance: Yes, up to $250,000
- Auto Rental Insurance: Yes
- Roadside Assistance: Yes
- Extended Warranty: Yes
- Customer Service: 24/7 concierge service
Don’t forget to check out our list of the best travel credit cards and best rewards credit cards.
