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I get it. Not everyone spends their Friday nights taking epsom salt baths and pondering the workings of various points programs.
Lots of peeps directly asked about the Capital One Venture Rewards card: is it worth getting?
My answer’s always been: yeah, if you don’t want to deal with points programs.
It has a $95 annual fee, though it’s waived the first year. But the ease of redemption and earning might be worth it if you like the Capital One ecosystem.
Capital One Venture Review
The sign-up bonus on the Capital One Venture Rewards is 50,000 Venture miles after spending $3,000 on purchases within 3 months from account opening, which is worth $500 toward travel. That’s a very decent sign-up bonus.
At its base, this card earns 2 “miles” per $1 spent which you redeem as credits for travel expenses. Each mile is worth 1 cent each. So if you spend $500, you’ll earn 1,000 Venture miles – which you can redeem for a $10 statement credit (2% back). And scale it up from there.
You need to spend $4,750 per year, or ~$396 per month, to cover the cost of the annual fee after the first year. If you use this as your go-to card, that’s fairly easy to accomplish.
Even still, I’m jamming on my Fidelity Visa thanks to a recent promotion (it’s also a 2% cashback card):
Although the limitation is you can only deposit rewards into a qualifying Fidelity account. With the Capital One Venture, you won’t have those restrictions, which can be a deal-maker.
In fact, I would consider getting the Capital One Venture card if they’d have me. I recently applied for a Spark Miles business card (basically the same setup except for small businesses – learn more here) but they told me to hit the bricks because I have too many recent cards (my eternal dilemma 😫).
But, if you don’t have many cards and just want a dead simple rewards program, you might consider the Venture Rewards.
The other big cashback card is the Citi Double Cash. The hitch is… you earn 1% back when you make a purchase, and another 1% back when you make a payment. So it isn’t *as* straightforward as the Capital One Venture Rewards card – which rewards you right when you make a purchase.
For that ease, you’ll pay ~$8 a month. Not a bad price. But something to be aware of.
In any regard, if you’re currently using a debit card or not earning any rewards on purchases, you’re leaving money on the table. This card is a simple introduction to rewards. And for that, yes, it’s worth a look.
2% cashback cards are a cornerstone
Inevitably, someone will mention the Alliant Visa, which earns 3% cashback the first year and 2.5% thereafter. But, you have to apply to become a member of the credit union to get the card. Is it more cashback? Duh. But it’s also another step.
If you add this to the mix, you’re reducing the simplicity of the rewards by having to join a credit union and remember when the intro earning rate expires. And in that case, you should go with any other points-earning card, if you’re willing to keep track of things and jump through minor hoops.
Basically, Venture’s annual fee is to guarantee the simplicity – which, yes, I believe is worth it if you don’t want to deal with all the options.
And, if you don’t want to think about blackout dates, award seats, or hunt down award travel – then go for the Capital One Venture Rewards.
I majorly geek out on finding a good award trip, but I’m also happy to put in the time to search. If you want no BS simplicity with the only restriction being travel credits, then yes, consider this card. Or if you want an easy sign-up bonus for an extra $500 worth of travel – nothing wrong with that, either.
- Link: Capital One Venture Rewards – Learn more
I never knocked the Capital One Venture Rewards card. I just prefer to earn different rewards for award travel which, admittedly, can be a lot more hassle. But I don’t mind because I like “getting the deal” and hunting down the values.
If you don’t want that kind of runaround and don’t want to think about how/when/if you’ll earn rewards, get the Capital One Venture Reward card. Because your rewards post as you make purchases. And the only restriction is that you redeem the rewards for travel expenses.
Is it worth paying $95 per year (~$8 per month) for that freedom (waived the first year)? Yeah, def. No one can put a price on your mental bandwidth. This is an ideal card to not worry about:
- Blackout dates
- Award space
- Bonus categories
- Earning rates
- Award redemptions (because travel is the only one)
And I value that highly. If I could get the card (or its small business counterpart), I would. And you likely qualify if you haven’t opened many other cards.
The only other caveat is this: Capital One requests a hard pull from all 3 credit bureaus when you apply for a card. If you don’t apply for cards often, it’s not a huge deal. But it’s something to keep in mind.
What do you think of Capital One cards? Would you consider getting one, if only to earn simple rewards?
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