The Perfect Credit Card for Travel Rewards Beginners

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Welcome to Better Report’s coverage of the best travel rewards credit cards. We’ll be bringing you news, reviews, and roundups of the best cards, offers, and point redemption opportunities out there, and we can’t think of a better place to start than with the Capital One Venture Rewards Credit Card.

With a straightforward earnings structure and a manageable $95 annual fee, the Capital One Venture Rewards Credit Card is a perfect on-ramp for anyone ready to embark on the extremely rewarding journey of travel points. The Venture Rewards Card currently offers a welcome bonus of 75,000 miles after spending $4000 on the card within 3 months of opening the account.

Earning Miles, and Understanding Their Value

The Capital One Venture Rewards Credit Card earns 5 miles per dollar spent on hotels and car rentals booked with Capital One Travel and 2 miles per dollar on all other purchases, with no limits and no foreign transaction fees.

As you’d expect, Capital One Miles are redeemable for trips through the Capital One Travel portal, for statement credits, or for gift cards, but getting the most out of the world of travel points requires maximizing both the return on your spend and how you redeem the points you earn through that spending.

The Venture Rewards Card simplifies the spending half of the equation. Many travel rewards credit cards earn increased points on bonus category purchases like Dining or Groceries, while earning 1 point or mile per dollar on purchases outside those categories. The Venture Rewards Card skips the bonus areas in favor of earning an elevated 2 miles per dollar on every purchase. How the math plays out for each individual will depend on their specific spending habits, but if the Venture Card is your first and/or only rewards credit card, you certainly won’t be standing at the register scrolling through Apple Wallet, trying to remember which card to use for your purchase.

On the redemption side, taking maximum advantage of airline and hotel transfer partners is key to multiplying the value of your earned rewards. Capital One Miles can be transferred to numerous partners, including what for many are aspirational airlines like Cathay Pacific and Etihad, as well as airlines with lucrative redemption options like Virgin Atlantic and Air Canada. Those who can afford to wait for a great redemption deal—both monetarily and in terms of scheduling—or those willing and able to plan trips around optimal redemption opportunities are best positioned to get the most from transferable travel points. I’ve personally redeemed ~75k points for a bucket-list first class flight on Emirates, which had showers on the plane, and could have cost tens of thousands of dollars if paid for with cash.

Each redemption is different, so while the Venture’s combined welcome offer is worth $750 at Capital One Travel, redeemed at a 1 cent per mile value, enthusiasts know miles can be worth far more when factoring in the broad range of redemption options.

Perks

The Capital One Venture Rewards card includes a credit of up to $120 toward TSA PreCheck or Global Entry every four years—which covers the cost of either program. While many cards now feature this credit, most come with a higher annual fee. If you already have your own enrollment in these programs covered by one of your cards, you can always use your credit to treat a friend or relative.

I’ve also benefited on numerous occasions from Capital One Travel’s price drop protection, which issues a travel credit of up to $50 if the price of a flight that was deemed a good time to book by the portal drops within ten days of booking.

Shopping portals are another great way to maximize return on spending, and the cashback offers available through Capital One cards, not to be confused with Capital One Shopping, are frequently higher than those from competing portals. 

What about the Capital One Venture X Rewards Credit Card?

The Capital One Venture X doubles the earning rate on hotels and rental cars booked through Capital One Travel to 10 miles per dollar spent, and adds 5 miles per dollar spent on flights booked through their portal. It comes with an annual fee of $395 that’s offset by an annual $300 travel credit and an annual anniversary 10,000 mile bonus. Veterans of the travel rewards space won’t blink at a $395 annual fee that’s offset by credits and bonuses, while newcomers will likely be more comfortable with the $95/year Venture Rewards card. Graduating to the more premium Venture X down the road is a logical progression.

Capital One is in the process of expanding their lounge presence, and Venture X cardholders and two of their guests enjoy unlimited access to its small but growing lounge network which currently includes locations in DEN, DFW, and IAD, with JFK and more on the way. Venture Rewards cardholders get two free visits a year, but that benefit expires January 1, 2025.

Wrap-Up

The Capital One Venture Rewards Credit Card makes a strong case for itself as the first and/or only rewards credit card in your wallet. If you’ve been on the fence about diving into the world of travel rewards, the Venture’s welcome bonus and temporary Capital One lounge access make this a perfect time to apply.