Who is the Capital One VentureOne Designed For?
Capital One's VentureOne card is an attractive option for people with excellent credit who want a travel rewards program but don't want to pay an annual fee. Although Venture One's signup bonus and rewards rate are not quite as high as those of prime cards with an annual fee, it does give them a run for their money.
What are the Interest Rates?
Interest rates range from 13.9% to 20.9% APR, which is competitive as many travel reward cards have interest rates of up to 25% APR. However, during 2015 all purchases come with a 0% introductory APR. Unfortunately the introductory offer does not apply to balance transfers, which pay the regular 11.9% to 19.9% APR. The good news is there's no balance transfer fee to worry about.
What Are the Fees?
VentureOne has no annual fee, no foreign transaction fees and no balance transfer fees. There is a $35 fee for late payments and returned payments, and a $10 or 3% fee (whichever is greater), if you make a cash withdrawal on your credit card.
What Is the Rewards Program Like?
VentureOne has a no-hassle travel reward program that gives you 1.25 miles for every dollar you spend. The miles can then be used as currency to pay for any travel purchase made your card. Every mile is worth $0.01.
What about the Signup Bonus?
Capital One's VentureOne has a 20,000 miles signup bonus for new members: one of the largest available for a no-annual-fee card. To qualify for the bonus, members must spend at least $1,000 within the first three months of opening the account.
Any Other Benefits?
As a Capital One credit card, VentureOne provides free and unlimited access to your TransUnion credit score through its Credit Tracker service. Credit Tracker also includes a what-if simulator that allows you to see what effect financial decisions could have on your credit score.
The card also includes all the benefits that come with a Visa Signature, such as extended warranty on purchases, travel upgrades at hotels and resorts, 24-hour travel assistance services and special access to events.
How Is It Better Than Other Credit Cards?
The VentureOne offers low interest rates, a large signup bonus and a hassle-free rewards program without an annual fee: a win-win-win combination. The only catch is that it requires excellent credit to qualify, which means members who qualify for VentureOne could also qualify for prime travel reward cards with higher signup bonuses and better points reward rates.