The CNN Underscored Money editorial team has developed a star rating so you can see the best card for specific categories. While we believe this card excels in this category, its overall star rating may differ.
CNNU Money editors awarded this card 5 stars as the best No-annual-fee card.
Pros:
- Earn 1.25 Miles per dollar on every purchase, every day; 5 Miles per dollar on hotels and rental cars booked through Capital One Travel
- Offers a generous intro APR on both purchases and balance transfers
- Stout welcome bonus for a no-annual-fee card
- No foreign transaction fees
Cons:
- No travel credits or airport lounge access
- No opportunity for bonus categories beyond Capital One Travel
- No cell phone insurance
Current welcome bonus: 20,000 miles after spending $500 on purchases within three months from account opening, equal to $200 in travel
Best for: Casual travelers who appreciate simplicity when earning travel rewards, but want to explore the possibilities of free travel when leveraging transfer partners.
Digging into the Capital One VentureOne Rewards card
The Capital One VentureOne is a no-annual-fee credit card directed at casual travelers, defined by an impressive list of perks and benefits that are traditionally only associated with cards that carry annual fees.
You’ll rack up an unlimited 1.25 Miles per dollar on every purchase, regardless of category. For busy professionals who may not have the bandwidth to carry an assortment of credit cards to maximize every purchase they make, this feature stands out.
Plus, most credit cards with no annual fee have weak or nonexistent sign-up bonuses, while the Capital One VentureOne‘s 20,000 miles once you spend $500 on purchases within 3 months from account opening, equal to $200 in travel.
You’ll rarely find a no-annual-fee card that has no foreign transaction fees paired with a strong list of transfer partners, but both help define the Capital One VentureOne. In many ways, the VentureOne sets the bar for perks on a no-annual-fee credit card, though the overall earning rate isn’t quite as strong as a card like the Citi Double Cash? Card * The information for the Citi Double Cash? Card has been collected independently by CNN Underscored. The card details on this page have not been reviewed or provided by the card issuer. .
Advantages of the Capital One VentureOne Rewards card
By far, the most compelling individual feature of the Capital One VentureOne card is its no-nonsense approach to earning miles. It’s 1.25 Miles per dollar on every purchase, everywhere, with no cap. It even includes overseas transactions, and with no foreign transaction fees, you can use this card while traveling internationally and earn miles without being dinged for each purchase.
While there aren’t any broad bonus categories, there’s one avenue for scoring even more miles on the Capital One VentureOne. You’ll earn 5 miles per dollar for hotel and car rental purchases mbooked through Capital One Travel. Just note that hotels can be difficult about providing elite member benefits for stays booked through third-party portals such as Capital One Travel.
The Capital One VentureOne offers a simple redemption path as well. All miles can be redeemed to cover any travel purchase at a value of 1 cent per mile.
On the other hand, for those curious about the potential of transfer partners — moving miles and points from a credit card to various airlines or hotels in order to book award travel — the Capital One VentureOne opens that door as well.
As with its big brother, the Capital One Venture card, the Capital One VentureOne allows all its miles to be transferred to 18 airline and hotel partners while still having no annual fee. It’s a great card for dabbling in advanced award travel strategies while minimizing your costs.
The Capital One VentureOne card also includes 24-hour travel assistance services, auto rental collision damage coverage, travel accident insurance and an extended warranty program. That’s a very impressive suite of travel and purchase protections for a no-annual-fee card.
Finally, new cardholders will get a 0% introductory APR on all purchases and balance transfers for the first 15 months that your account is open (after 15 months, the rate jumps to a variable 19.99%-29.99%). In other words, those who have large purchases in their immediate future — engagement ring, anyone? — may want to take advantage of this card in order to minimize interest while paying down those assets.
Disadvantages of the Capital One VentureOne Rewards card
It’s all about perspective here. While you can criticize elite credit cards for lacking perks that are expected alongside a lofty annual fee, it’s tough to knock the Capital One VentureOne given its annual fee of zero.
With the exception of earning 5 miles per dollar for hotels and car rentals booked with the card through Capital One Travel, there are no opportunities to earn more than 1.25 Miles per dollar on every purchase on the Capital One VentureOne. For those who like bonus categories, this may be seen as a disadvantage.
However, you could pair the Capital One VentureOne with a credit card like the Chase Freedom Flex? * The information for the Chase Freedom Flex? has been collected independently by CNN Underscored. The card details on this page have not been reviewed or provided by the card issuer. to unlock even more potential. For example, you could use the no-annual-fee Chase Freedom Flex? * The information for the Chase Freedom Flex? has been collected independently by CNN Underscored. The card details on this page have not been reviewed or provided by the card issuer. card when its rotating bonus categories make sense for your spending habits, and then the Capital One VentureOne for all other purchases.
It’s also worth noting that while the list of Capital One transfer partners continues to grow, most of the partners are based outside of North America. The list feels a bit less compelling when contrasted with some of the American Express Membership Rewards? or Ultimate Rewards? transfer partners.
The most notable omission from the Capital One VentureOne’s various protections is cell phone insurance, which is available on quite a few cards nowadays — even some without annual fees. It’s definitely more of a “would be nice” than a “must have” feature, but with cell phone insurance expanding onto more cards in recent years, it would be a great addition to the Capital One VentureOne in the future.
Other credit cards similar to the Capital One VentureOne Rewards card
Those considering the VentureOne should cast a glance at Capital One’s other travel rewards card, the Capital One Venture Rewards Credit Card. It carries a $95 annual fee, but the Capital One Venture card earns an increased 2 Miles per dollar on every purchase, every day; 5 Miles per dollar on hotels and rental cars booked through Capital One Travel.
That extra 0.75x miles on every dollar spent can really add up, and could easily offset the annual fee once it kicks in at the start of your second year. Plus, the Capital One Venture Rewards Credit Card offers up to a $100 credit for a Global Entry or TSA PreCheck? membership, as well as a sizable 75,000 miles once you spend $4,000 on purchases within three months of account opening, plus a one-time $250 Capital One Travel credit in your first card holder year.
The Citi Double Cash is also worth considering. It offers a more generous 2% cash back on all purchases — 1% when you make a purchase, and another 1% when you pay it off — and also has no annual fee.
But the Citi Double Cash lacks most of the travel-related perks of the Capital One VentureOne card, and you can’t transfer Double Cash rewards to airlines or hotels without adding the Citi Premier? Card * The information for the Citi Premier? Card has been collected independently by CNN Underscored. The card details on this page have not been reviewed or provided by the card issuer. to your wallet. In other words, the best of these two will be determined by how valuable the ancillary perks are to you, and how much you want to earn transferable rewards for no annual fee.
Should you get the Capital One VentureOne Rewards card?
The Capital One VentureOne credit card is a great starter card for those who want to explore the possibilities in the world of points and miles. With no annual fee, there’s no downside to holding the card. It also includes a litany of perks that are more commonly found on credit cards with annual fees — benefits like no foreign transaction fees, purchase protection and travel accident insurance.
For those seeking to maximize their rewards, consider pairing the Capital One VentureOne with a card like the Chase Freedom Flex? * The information for the Chase Freedom Flex? has been collected independently by CNN Underscored. The card details on this page have not been reviewed or provided by the card issuer. . Use the other card when you’ll earn a bonus in the categories it offers, and keep the Capital One VentureOne at the top of your purse or wallet for everyday purchases that aren’t covered by a bonus category. Then you’ll have a sound credit card strategy that can give you the best of both worlds.
For Capital One products listed on this page, some of the above benefits are provided by Visa? or Mastercard? and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply.
*The content on this page is accurate as of the posting date; however some of the offers mentioned may have expired.
All information about Chase Freedom Flex?, Citi Double Cash? Card and Citi Premier? Card has been collected independently by CNN Underscored.
