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Home / Credit Cards / A Quick Look At The Capital One Venture Card

 

Capital-One-Venture-CardWhat makes a reward credit card user madder than anything else? Not being able to redeem their rewards points and miles when they want to.  Unfortunately, that happens a lot because airlines make award seats scarce at the lowest mileage levels and let’s not forget the hidden fees that are often tacked on. On top of that is the customary annual fee. Enter the Capital One VentureOne Rewards card. This card is touted as allowing cardholders to earn miles that can be redeemed for any flight with any airline sans the annual fee. Here are a few of the advantages and disadvantages of the VentureOne Rewards card.

Advantages

  • If you have this card, you earn 1.25 miles for each dollar spent. One mile is worth one cent as a statement credit for travel expenses like airfare, hotels, and vehicle rental.
  • Capital One makes redeeming your miles simple. All a cardholder has to do is go online and select any travel expense to apply their miles to.
  • Offering a sign-up bonus is nearly obligatory within the rewards card realm. This one offers new cardholders 10,000 miles which are worth $100 in statement credits. The catch, and there always is one; the cardholder must spend $1,000 within the first 3 months of opening an account.
  • No annual fee nor are there any foreign transaction fees.

Disadvantages

  • The sign-up bonus is good and bad. Good that it is offered, but $100 in rewards for spending $1,000 plus the interest that will accrue? Really?
  • Yes, the card offers 1.25 miles for every dollar spent, but other cards are offering leveled spending where you can earn up to 3 miles per dollar on some purchases.
  • This card is pretty plain-Jane in that it offers nothing beyond the ability to redeem miles anytime. The majority of airline affiliated credit cards offer all or a combination of waived checked baggage fees, priority boarding, or discounts on in-flight purchases. This card is not airline affiliated, so it offers none of these perks.

This is the right card for people who are tired of black-out dates and other excuses as to why you can not redeem your miles. If you can tolerate those annoyances, there are better rewards cards out there.

 

About the author: Jerry Coffey

 

Jerry Coffey spent many years in a debt-riddled gray area somewhere between broke and desperately broke. His seemingly endless need for more and more cash led him to payday loans, repossessions, bankruptcy, and depression. After years of the same financial style, he heard a piece of advice that inspired him to find a way to change. The advice: ''The very definition of a fool is someone who continues to do the same things, but expects different results.'' This led him to a much more frugal lifestyle that sees all of his bills paid on time and a growing savings account. Even the seed of a retirement account has begun to sprout.

 

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