Capital One VentureOne Rewards Credit score Card Evaluate

You’ve most likely learn gushing evaluations of journey bank cards just like the card_name and card_name. They’re actually good, however include important annual charges that you could be not be comfy with.

Isn’t there a less expensive possibility? Sure. The card_name is a no-annual-fee bank card that earns the identical journey rewards forex as its extra premium siblings. Its perks aren’t fairly on the identical stage, nevertheless it’ll provide you with a really feel for Capital One miles and whether or not you would possibly wish to make an precise funding in a extra highly effective possibility sooner or later. Right here’s what that you must know concerning the card_name.

TIME’s Take

card_name is among the solely no-annual-fee bank cards available on the market that provides you the choice to switch rewards on to airways and inns. Whereas its incomes fee and journey advantages go away so much to be desired, its simplicity is a giant win for these simply beginning their journey into factors and miles.

Professionals and cons

Who’s the cardboard for?

The card_name is good for a newbie who’s inquisitive about journey rewards. There are just a few causes for this.

First, the cardboard earns Capital One miles, which can assist you journey on a budget. They’re extraordinarily simple to make use of, so that you don’t must put in lengthy hours of analysis to get free airfare, resort stays, rental automobiles, and many others. 

Additionally, card_name doesn’t cost an annual price. That makes the cardboard interesting for skeptics satisfied there’s no such factor as a free lunch. You possibly can test-drive Capital One miles to see how troublesome they’re to earn and redeem with no monetary dedication. When you discover them unwieldy, no hurt accomplished.

Lastly, the cardboard has a really simple incomes fee. You received’t must preserve monitor of difficult spending classes or rotating bonuses.

When you’re already an award-travel aficionado, or should you journey often, there are higher playing cards with larger welcome bonuses, stronger return charges, and stronger journey advantages that you need to have a look at as a substitute.

Rewards

The card_name comes with bonus_miles_full. That’s price not less than $200 in journey and probably much more if you know the way to maximise Capital One miles (we’ll focus on this in a minute).

The cardboard additionally earns 5 miles per greenback on inns and automotive leases reserved by means of Capital One Journey and 1.25 miles per greenback for all different eligible purchases. There are a number of methods to make use of these rewards:

• Money them out at a fee of 0.5 cents every.
• Use them to offset your Amazon cart at a fee of 0.8 cents every.
• Redeem them as an announcement credit score to offset journey bought along with your card at a fee of 1 cent every.
• Switch them to airline and resort companions for a possible worth of two+ cents every.

This final bullet is the easiest way to squeeze essentially the most worth out of your rewards. Capital One companions with loyalty packages resembling Air Canada Aeroplan, Avianca, and Wyndham. By changing your factors into airline miles and resort factors, you’ll be able to journey for pennies on the greenback.

For instance, you’ll be able to switch 20,000 Capital One miles to Avianca for a a method flight between Washington, D.C., and London on United Airways. You’ll solely must pay ~$25 in taxes. Or, you can switch 15,000 factors to Wyndham for an evening in a one bed room Vacasa trip rental (which may value lots of of {dollars} per evening).

The positive print

Along with no annual price, card_name additionally waives international transaction charges, which makes it a stable card to make use of abroad.

Nevertheless, you need to count on to be charged for issues like:

• Carrying a steadiness: You’ll pay an annual proportion fee (APR) of reg_apr,reg_apr_type once you carry a steadiness month to month. This may seemingly negate any rewards you earn from spending, so it’s a foul concept to make use of the cardboard should you don’t suppose you’ll be able to repay your invoice every month.
• Money advances: You’ll pay both $3 or 3% of the whole transaction when requesting a money advance. You’ll additionally pay cash_advance_apr, which is able to start accruing the identical day you provoke the money advance.
• Late funds: You’ll be charged cash_advance_fee for funds that submit after your due date.

Further hidden perks

0% intro APR provide

The card_name presents intro_apr_rate,intro_apr_duration and balance_transfer_intro_apr,balance_transfer_intro_duration (then reg_apr,reg_apr_type). You’ll pay a 3% price on the quantities transferred inside the first 15 months.

This is a superb characteristic that lets you save some huge cash should you’ve bought an upcoming expense that you just suppose you received’t have the ability to repay for some time. Bank card rates of interest are sometimes cripplingly excessive, so this supplies you some respiration room to pay down your invoice earlier than getting hit with huge charges.

Potential to transform money again into journey rewards

There are various Capital One cash-back bank cards, such because the card_name and the card_name.

If in case you have the card_name together with one among these playing cards, it’s attainable to transform your money again into Capital One miles. Inside your on-line account, you’ll be able to switch the rewards out of your cash-back card to the card_name (just like transferring cash from a financial savings account to a checking account) at a fee of 1 mile per cent. This will provide you with the power to switch these rewards to airline and resort packages for outsized worth.

Journey safety

The cardboard presents honest journey coverages for a no annual price bank card. You’ll have to make use of the cardboard to pay in your journey in an effort to qualify. Right here’s what you’ll get:

• Secondary rental automotive insurance coverage, which covers something that your major insurance coverage (resembling your private coverage) doesn’t.
• Journey accident insurance coverage, which may compensate you for disasters brought on by the frequent service (resembling lack of senses, limbs, and life).

These can’t examine with an annual fee-incurring bank card, such because the Capital One Enterprise Rewards Credit score Card, however they’re serviceable for individuals who don’t journey often.

Normal Capital One card perks

The card_name presents advantages that seem on all Capital One playing cards, together with:

• Capital One Eating: This lets you e-book reservations which can be laborious to get. You may as well notify the restaurant of your dietary preferences and provides it a heads-up should you’re celebrating one thing particular.
• Capital One Leisure: You may get unique presale entry for varied live shows and sports activities occasions and sometimes the chance to attend particular occasions.
• Capital One Journey: E book your airfare, rental automobiles, inns, and many others. by means of Capital One’s proprietary on-line journey company. You’ll profit from such perks as value prediction, Cancel For Any Cause protection (for a price), and value drop safety.

What could possibly be improved

For a travel-oriented bank card, the card_name might stand to supply just a few extra journey insurances. Issues like baggage delay insurance coverage, major rental automotive insurance coverage, and journey delay insurance coverage would skyrocket this card into the highest spot on many no annual price journey rewards.

The cardboard’s incomes fee is barely subpar, as effectively. There are many cash-back bank cards that earn between 1.5% and a couple of% again on all purchases. Bumping up the card_name return from 1.25x to 1.5x might make the cardboard extra aggressive.

Card options

Time Stamp: Good for newcomers, however not frequent vacationers

The card_name by no means claimed to be the highest journey bank card available on the market. It’s an excellent introduction into free journey with credit-card rewards and never that a lot else.

Ceaselessly requested questions (FAQs)

Is the card_name laborious to get?

The card_name is just not notably laborious to get. It has comparable approval requirements to different rewards bank cards. Nevertheless, Capital One particularly states that you have to by no means have declared chapter or defaulted on a mortgage. Additionally, you’ll be able to’t have a cost greater than 60 days late on a bank card, medical invoice, or different mortgage within the final yr. Lastly, you have to have had a mortgage or bank card with a credit score restrict above $5,000 for not less than three years.

What credit score rating do you want for the card_name?

So long as you’ve bought a credit score rating of not less than 670 (thought-about “good” by FICO), your credit score rating shouldn’t stand in the best way of an approval. Simply do not forget that Capital One considers rather more than a credit score rating, so being accepted isn’t a certain factor—no matter your rating.

What’s the minimal credit score restrict for the card_name?

Capital One doesn’t reveal the minimal credit score restrict for the card_name. Nevertheless, you’ll be able to count on to be accepted for a credit score line beneath $5,000 in case your credit score profile is lower than excellent.

Is the card_name good for newcomers?

The card_name is a good card for these simply starting on this planet of journey rewards. Its no annual price means it’s a low-risk method to earn and redeem Capital One miles free of charge flights, inns, and extra. Nevertheless, these new to the world of credit score with restricted credit score historical past will seemingly not qualify.