The regular Capital One VentureOne Rewards card is an excellent travel rewards card that has no annual fee and a great 20,000 bonus miles offer. But it requires a higher credit score to apply for than some avid travelers have.
That’s why Capital One rolled out its VentureOne Rewards for Good Credit. With a more lenient credit score requirement, this card also has no annual fees or foreign transaction fees. And it lets you earn unlimited miles on daily spending and bonus miles when you shop through Capital One Travel.
In our VentureOne Rewards for Good Credit review, we’re covering its pros and cons, fees, and reward options, so you can decide if this credit card belongs in your wallet.
Overview of the Capital One VentureOne Rewards for Good Credit
- Best for – Frequent travelers with good credit who also travel internationally.
- Sign-up bonus – None.
- Cash back – 1.25 miles per dollar you spend; 5 miles when spending with Capital One Travel.
- Introductory offer – None.
- APR – 29.99% (Variable).
- Foreign transaction fee – None.
- Intro balance transfer fee – None.
- Ongoing fees for balance transfers –$0 at this Transfer APR.
- Cash advance fee – 3% of the amount of the cash advance, but not less than $3.
- Annual fee – $0.
In-depth analysis of the Capital One VentureOne Rewards for Good Credit
Rewards
This card pays you unlimited 1.25 miles for every dollar you spend. You also earn unlimited 5 miles per dollar you spend on hotels and rental cars you book through Capital One Travel. You can then redeem miles when you book trips through Capital One Travel or use miles for reimbursements for previous travel purchases you made elsewhere within 90 days of your purchase.
Miles are transferable to over 15 travel loyalty programs, including Air Canada, British Airways, and Emirates Skywards. Miles are worth $0.01, so if you book a travel expense that costs $300, you need 30,000 miles to cover the cost.
However, you’re not locked-in to spending points on travel. For example, you can redeem miles as a statement credit or for a variety of free gift cards. Cardholders can also redeem points when shopping on Amazon with certain Capital One cards, including VentureOne. You have to enroll your card by linking it to the Shop with Points at Amazon.com program. From there, you can redeem points against millions of Amazon products. There are some exceptions, like digital downloads and “Subscribe & Save” products, but most categories are eligible.
Finally, you can use your Capital One Rewards to pay through PayPal. This lets you convert your miles into dollars quite easily when you’re shopping online.
Note that while miles don’t expire, you lose your miles if you close your account and there isn’t a grace period to spend them.
Bonuses
Unfortunately, the VentureOne Rewards for Good Credit doesn’t have the same bonus as the regular Capital One VentureOne Rewards credit card, which requires excellent credit to apply. This means you still earn travel rewards but don’t earn bonus miles or the 0% introductory APR.
Read more: The best credit card sign-up bonus intro offers
APR
This card has a 29.99% (Variable) APR for purchases and transfers. There’s also a 29.99% (Variable) APR for cash advances. The lack of an introductory 0% APR is a downside, although this travel rewards card only requires good credit, so it’s a trade-off.
Credit limit
According to Capital One, they determine your credit limit after a review of your application and ability to pay. And your credit line determines if you get a Visa Signature or Visa Platinum card. Both cards provide a range of perks from Visa like travel and emergency assistance and extended warranty protection. However, Visa Signature cards provide more perks like discounts at the Visa Signature Luxury Hotel Collection and certain discounts on expenses like car rentals.
Again, your credit history determines all of this, and you can find out which card you qualify for as you complete your application.
Annual fee
The Capital One VentureOne Rewards for Good Credit card doesn’t have an annual fee.
Balance transfer fee
This card has a APR for balance transfers. You can also pay 3% of the amount of each transferred balance at a promotional APR Capital One might offer. You don’t pay additional fees for balances transferred at the regular transfer APR.
Other fees
With no annual fee or foreign transaction fees, the VentureOne Rewards for Good Credit is a fairly low-cost travel rewards card. However, you can encounter some additional fees:
- Cash advances: 3% of the amount of the cash advance, but not less than $3.
- Late payments: up to $40.
Other benefits
Cardholders get numerous benefits with this card from both Capital One and Visa. Several notable perks include:
- Capital One Travel: Book travel and get free price drop protection plus price matching if you find a better price within 24 hours after booking. You also get access to Capital One Lounges at airports.
- Entertainment and dining benefits: Capital One cardholders can get exclusive invites to famous restaurants and VIP packages for sporting and music events.
- Capital One Shopping: Use Capital One Shopping to automatically apply coupon codes at checkout, compare prices between merchants, and to earn shopping credits that are redeemable for free gift cards.
- Fraud liability: Cardholders get $0 fraud liability if their card is lost or stolen, so you don’t pay for unauthorized charges.
- CreditWise: Monitor your credit for free with the CreditWise app.
- Visa benefits: Enjoy benefits from Visa like emergency travel assistance, roadside dispatch, potential travel discounts, and exclusive travel offers.
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.
