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Whether you are a first-time cardholder or a savvy traveler with several credit cards, the Capital One Venture Rewards credit card has something for you. But will it match all your needs?
Let’s review the card and see what users like and dislike.
Features of the Venture Rewards Credit Card
If you’re looking for a travel companion that makes every journey more rewarding, the Venture Rewards credit card is the way to go. This card has features catering to frequent flyers and occasional travelers alike.
Let’s start with the Welcome Bonus— you can earn a hefty bonus of miles (75,000) if you meet the spending requirement ($4,000) within the first three months. It lets you start your trip with an upgrade already in hand.
The second feature concerns foreign transaction fees. With the Venture card, you can travel worry-free because there are no foreign transaction fees. Spend freely wherever you go without worrying about extra charges adding up.
Security is another strong suit. The card offers advanced security features, including instant purchase notifications and the ability to lock your card through the app if it gets lost or stolen. This provides peace of mind whether you are at home or halfway around the world.
Global Entry or TSA PreCheck statement credit. This credit card provides up to $100 reimbursement for TSA PreCheck and Global Entry fees. It happens once in four years, and you must pay the fees using your Capital One Venture card.
The card also allows you to elevate your hotel stays. With this card, you can enrich your stay in over 100 destinations. This includes exclusive benefits such as a $50 experience credit. You could also enjoy early check-ins, room upgrades, and late checkouts.
Advantages and Disadvantages of the Capital One Venture Rewards Credit Card
The Capital One Venture Rewards card undoubtedly has numerous benefits. But that doesn’t make it foolproof. So, let’s explore both sides.
Capital One Venture Rewards Credit Card Benefits
- Travel Bookings: The card allows you to book flights using your credit card, earned rewards, or a combination. This offers flexibility and convenience.
- 24-hour Travel Assistance: With this card, you can access customer service anytime, any day of the year. You can request an emergency replacement or a cash advance if your card gets lost.
- Extended Warranty: You enjoy an extended warranty for eligible purchases made with the Venture Rewards, Capital One, card. This doesn’t attract any extra cost.
- Choose your Payment Due Date: This venture Rewards card lets you pick the date to pay your balances.
Cons
- High annual fee: While some credit cards offer a $0 annual fee, the Venture Rewards card charges you $95 annually.
Rates and Fees
Firstly, this card attracts a variable purchase and balance transfer APR based on your creditworthiness. For instance, you could be charged 19.99%, 26.24%, or 29.99%. You also get charged an APR of 29.99% if you receive a cash advance.
Venture Rewards also has three types of fees. The first is a 4% balance transfer fee, followed by a 5% or $5 cash advance fee, whichever is higher.
Lastly, if you make late payments, you’ll be penalized or charged a fee of up to $40.
Eligibility Criteria and Requirements
To qualify for this card, you must first be an adult, 18, with a social security number. You must also be a resident of the US or any of its territories and not be in any correctional center.
To get a Capital One Venture Rewards card, credit score inquiries are a must. You need to have a good or excellent credit score.
Your approval will also be determined by an application for bankruptcy and your monthly income. Lastly, you should not have applied for another Capital One card two or more times within the past 30 days.
Capital One Venture Rewards Credit Card Application Process
The application process is straightforward. Visit the Capital One website, navigate to the Venture Rewards Credit Card page, and click the “Apply Now” button.
It will take you to the application form, where you fill in your details, including your name, address, income, and social security number. Ensure all information is correct, then submit.
Capital One typically provides a decision within 60 seconds. And if approved, your new card will arrive by mail within 7-10 business days.
Conclusion
This Venture Rewards credit card is an excellent travel card option. But is it to you? That depends on what you are looking for.
If you want a card that rewards you for every purchase, this might be what you need. However, there might be better choices than this if your target is a no-annual-fee, low-interest credit card.
Therefore, evaluate your needs first, then compare them with the features offered by the Capital One Venture Rewards credit card. When ready, apply.
