Capital One VentureOne Rewards Credit score Card Evaluation

You’ve in all probability learn gushing critiques of journey bank cards just like the card_name and card_name. They’re actually good, however include vital 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 similar stage, however it’ll provide you with a really feel for Capital One miles and whether or not you may wish to make an precise funding in a extra highly effective possibility sooner or later. Right here’s what you could know concerning the card_name.

TIME’s Take

card_name is among the solely no-annual-fee bank cards in the marketplace that offers you the choice to switch rewards on to airways and inns. Whereas its incomes fee and journey advantages go away loads 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 might help you journey on a budget. They’re extraordinarily straightforward to make use of, so that you don’t need to put in lengthy hours of analysis to get free airfare, resort stays, rental vehicles, and so forth. 

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’ll be able to 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 finished.

Lastly, the cardboard has a really simple incomes fee. You gained’t need to preserve observe of sophisticated spending classes or rotating bonuses.

When you’re already an award-travel aficionado, or in case you journey regularly, there are higher playing cards with increased welcome bonuses, stronger return charges, and stronger journey advantages that it’s best to take a look at as a substitute.

Rewards

The card_name comes with bonus_miles_full. That’s price no less than $200 in journey and doubtlessly much more if you understand how to maximise Capital One miles (we’ll talk about this in a minute).

The cardboard additionally earns 5 miles per greenback on inns and automotive leases reserved via 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 a press release 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 one of the best ways to squeeze probably the most worth out of your rewards. Capital One companions with loyalty applications equivalent to Air Canada Aeroplan, Avianca, and Wyndham. By changing your factors into airline miles and resort factors, you possibly can journey for pennies on the greenback.

For instance, you possibly can 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 need to pay ~$25 in taxes. Or, you may switch 15,000 factors to Wyndham for an evening in a one bed room Vacasa trip rental (which may value tons of of {dollars} per night time).

The advantageous print

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

Nevertheless, it’s best to anticipate to be charged for issues like:

• Carrying a stability: You’ll pay an annual proportion fee (APR) of reg_apr,reg_apr_type while you carry a stability month to month. It will doubtless negate any rewards you earn from spending, so it’s a nasty concept to make use of the cardboard in case you don’t suppose you possibly can repay your invoice every month.
• Money advances: You’ll pay both $3 or 3% of the overall 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 publish after your due date.

Extra hidden perks

0% intro APR supply

The card_name affords 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 throughout the first 15 months.

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

Capability to transform money again into journey rewards

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

You probably have the card_name together with one in all these playing cards, it’s attainable to transform your money again into Capital One miles. Inside your on-line account, you possibly can switch the rewards out of your cash-back card to the card_name (much like transferring cash from a financial savings account to a checking account) at a fee of 1 mile per cent. This offers you the power to switch these rewards to airline and resort applications for outsized worth.

Journey safety

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

• Secondary rental automotive insurance coverage, which covers something that your major insurance coverage (equivalent to your private coverage) doesn’t.
• Journey accident insurance coverage, which may compensate you for disasters attributable to the frequent service (equivalent to 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 regularly.

Customary Capital One card perks

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

• Capital One Eating: This lets you e-book reservations which might be onerous to get. You may as well notify the restaurant of your dietary preferences and provides it a heads-up in case you’re celebrating one thing particular.
• Capital One Leisure: You may get unique presale entry for numerous concert events and sports activities occasions and sometimes the chance to attend particular occasions.
• Capital One Journey: E-book your airfare, rental vehicles, inns, and so forth. via Capital One’s proprietary on-line journey company. You’ll profit from such perks as worth prediction, Cancel For Any Motive protection (for a price), and worth 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 properly. There are many cash-back bank cards that earn between 1.5% and a pair of% again on all purchases. Bumping up the card_name return from 1.25x to 1.5x might make the cardboard extra aggressive.

Card alternate options

Time Stamp: Good for novices, however not frequent vacationers

The card_name by no means claimed to be the highest journey bank card in the marketplace. It’s a very good introduction into free journey with credit-card rewards and never that a lot else.

Often requested questions (FAQs)

Is the card_name onerous to get?

The card_name is just not notably onerous to get. It has related approval requirements to different rewards bank cards. Nevertheless, Capital One particularly states that it’s essential to by no means have declared chapter or defaulted on a mortgage. Additionally, you possibly can’t have a fee greater than 60 days late on a bank card, medical invoice, or different mortgage within the final yr. Lastly, it’s essential to have had a mortgage or bank card with a credit score restrict above $5,000 for no 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 no less than 670 (thought of “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 way more than a credit score rating, so being authorised 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 possibly can anticipate to be authorised for a credit score line under $5,000 in case your credit score profile is lower than excellent.

Is the card_name good for novices?

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