Capital One VentureOne Rewards Credit Card overview
The no-annual-fee Capital One VentureOne Rewards Credit Card offers the same versatile redemption options as its sister cards, the Capital One Venture Rewards Credit Card and the Capital One Venture X Rewards Credit Card — but with a lower rewards rate and fewer perks. The miles earned on the card can be transferred to Capital One’s 15-plus airline and hotel partners or redeemed as a statement credit toward eligible travel purchases. Card Rating*: ⭐⭐⭐
*Card rating is based on the opinion of TPG’s editors and is not influenced by the card issuer.
No matter which card from the Capital One Venture family you choose, all three options offer simple earnings structures, valuable airline and hotel transfer partners and easy-to-use rewards.
For those who like a straightforward option for earning and redeeming rewards, you can also use your miles to cover almost any recent travel-related purchase on the Capital One VentureOne Rewards Credit Card.
If you’re unsure about paying an annual fee, consider this card since it doesn’t charge one. We typically recommend applicants have a credit score of 670 or higher to increase their chances of approval.
Check out the full details of this card to determine whether it’s a good fit for you.
Capital One VentureOne pros and cons
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Capital One VentureOne welcome offer
The Capital One VentureOne Rewards comes with a welcome bonus of 20,000 bonus miles after spending $500 within the first three months from account opening. Plus, new cardholders will receive a $100 Capital One Travel portal credit to use in your first cardholder year upon account opening (no spending is required to receive the credit).
TPG’s August 2025 valuations peg Capital One Venture miles at 1.85 cents apiece, making this welcome bonus (bonus miles plus the travel credit) worth up to $470.
The $100 travel credit is valid for a year and can be used in one or more purchases of flights, hotels, rental cars and vacation rentals booked through Capital One Travel; however, rewards won’t be earned on the credit.
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That’s significantly less than the Venture Rewards card bonus, which is currently 75,000 miles after spending $4,000 on purchases within the first three months of account opening. This welcome bonus is valued at $1,388, according to TPG’s August 2025 valuations.
However, the 20,000-mile bonus is still higher than what many other no-annual-fee cards offer. Additionally, the spending requirement for the VentureOne card’s bonus is much easier to meet than the Venture card, requiring just $500 in spending.
It’s also important to note Capital One’s application restrictions. Generally, Capital One will only approve you for one credit card every six months. Additionally, you won’t be eligible for the welcome bonus if you received one on this card within the past 48 months.
Related: The best credit card welcome offers of the month available
Capital One VentureOne benefits
The VentureOne has a few benefits, including:
In addition to these benefits the VentureOne is among the few no-annual-fee cards with no foreign transaction fees, making it especially useful for international travel.
Plus, cardholders receive complimentary Hertz Gold Rewards Five Star status (enrollment required).
Related: The 9 most valuable World Elite Mastercard benefits
Earning miles on the Capital One VentureOne
The VentureOne earning structure is similar to that of the $95-a-year Venture Rewards, but it delivers a slightly lower return on everyday spending.
You’ll earn:
- 5 miles per dollar spent on hotels, vacation rentals and rental cars booked through the Capital One Travel portal
- 1.25 miles per dollar spent on everyday purchases
These equate to a 9.3% return on spending (based on TPG’s August 2025 valuations) on eligible Capital One Travel portal bookings and a solid 2.3% return on all other purchases.
While decent, it isn’t the best return for everyday spending. However, the benefit of an unlimited earning rate is that you don’t have to keep up with multiple bonus categories — favoring simplicity over maximum returns.
Related: Capital One Venture Rewards vs. Capital One VentureOne: Which should you venture toward?
Redeeming miles on the Capital One VentureOne
You have a few options when it comes to redeeming Venture miles.
The most straightforward way for most cardholders is to use them to pay for eligible purchases as a statement credit. You sign in to your Venture Rewards online account and redeem miles at 1 cent each for a statement credit against recent, eligible travel purchases you’ve made with the card.
This includes many travel expenses that traditional miles won’t cover, from Airbnb stays to Uber rides. There are no award charts, blackout dates or minimum redemption amounts.
You can also redeem your miles for Amazon purchases, Capital One entertainment purchases, cash back and gift cards. However, these methods all have redemption rates of less than 1 cent per mile, so you should avoid using any of these options if you want to get maximum value out of your miles.
Related: How to earn, redeem and transfer Capital One miles
Transferring miles on the Capital One VentureOne
To get more value from your Capital One miles, you could be like TPG newsletter and partnerships editor Emily Thompson and transfer miles to travel partners.
Capital One has 15-plus airline and hotel partners to which you can transfer your miles, including Avianca LifeMiles, British Airways Club, and Turkish Airlines Miles&Smiles. Transferring miles to partners will give you the maximum value for your hard-earned miles.
Related: Cashing in Capital One miles? How to get the maximum value when redeeming miles
Which cards compete with the Capital One VentureOne?
If this card sounds pretty appealing, know that there are actually several no-annual-fee cards that compete with the VentureOne:
For additional options, check out our full list of the best no-annual-fee cards.
Related: The power of the Chase Trifecta: Sapphire Reserve, Ink Preferred and Freedom Unlimited
Is the Capital One VentureOne worth it?
The VentureOne is a solid no-annual-fee option for those who want a healthy welcome bonus, reasonable perks and the ability to transfer points and miles directly to travel partners. However, you can get a higher earn rate on everyday purchases by getting a Venture card with an annual fee.
Bottom line
The Capital One VentureOne Rewards Credit Card offers a competitive welcome bonus, flexible travel redemptions and no foreign transaction fees, all without an annual fee. It’s a strong pick for occasional travelers or those trying out Capital One.
However, frequent travelers may prefer the higher earning rates and added perks of the Venture or Venture X.
Learn more: Capital One VentureOne Rewards
For Capital One products listed on this page, some of the benefits may be provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply.
Upon enrollment, accessible through the Capital One website or mobile app, eligible cardholders will remain at that status level through the duration of the offer. Please note, enrolling through the normal Hertz Gold Plus Rewards enrollment process (e.g. at Hertz.com) will not automatically detect a cardholder as being eligible for the program and cardholders will not be automatically upgraded to the applicable status tier. Additional terms apply.