18 reasons I keep renewing my Capital One Venture Rewards Card

Before Capital One announced its transfer partnerships in 2021, I found little use for the Capital One Venture Rewards Credit Card. When asked about this card, I gave the same answer: “You’re better off with a Fidelity Rewards Credit Card. It has no annual fee and offers the same 2% cash back rewards.” After Capital One introduced transfer partners, my opinion drastically changed. Not only did I get a Capital One Venture Card, but it became my go-to recommendation for friends and family seeking a simplified rewards structure. 

When I applied for the card, it offered a 100,000-mile welcome bonus (now it’s down to 75,000 after $4,000 spent within three months of account opening). Despite the generous bonus, ongoing 2X rewards, and flexible redemptions, I didn’t think I’d keep the card long-term. I’m now in year three of having a Venture car, and I don’t think I’ll be getting rid of it any time soon. 

Here are the card perks that keep me renewing my Capital One Venture Card every year:

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Capital One Venture card benefits

The Capital One Venture is a shiny metal card​ that packs a punch, with useful benefits like transferable rewards, waived foreign transaction fees, trusted traveler program fee reimbursement and more. I’ve written about how Capital One Price Freeze isn’t exactly useful, but the card has tons of other perks that are.

Here’s a closer look at how Capital One Venture benefits can help you recoup the $95 annual fee:

2X miles on all spending

The Capital One Venture Card earns 2X miles on all purchases, making it an excellent card for everyday purchases. I use my Citi Prestige Card for dining and grocery spending (I often get targeted for 5X grocery bonuses) and my Bilt Card for double rewards on Rent Day. Pretty much all other spending goes on my Venture Card for 2X rewards.

In addition, the Venture Card earns 5 miles per dollar spent on hotels, vacation rentals, and rental cars booked through Capital One Travel. I prefer to book my travel directly with airlines and hotels for added rewards and in case anything goes wrong. However, Capital One lets you double dip on airline bookings by entering your frequent flyer number. You’ll earn 5X rewards with your Capital One Venture Card and airline miles through your frequent flyer program.

This rate makes it incredibly easy for me to accrue miles faster. In fact, since I’ve had this card, I don’t think I’ve ever had a reward balance under 50,000 miles. They add up quickly and go a long way in offsetting my travel costs.

No foreign transaction fees

The Venture card’s 2X standard rewards are especially rewarding when traveling abroad. Some credit card bonus categories don’t extend to purchases made abroad. I don’t like to settle for 1 point per dollar spent unless it counts towards some annual spending bonus (annual free night, elite status credits, etc.).

With the Venture card, I keep earning 2X miles on purchases abroad, and since the card charges no foreign transaction fees, I’m not paying an extra 3% for the privilege of using it. Waived foreign transaction fees are a standard perk among rewards credit cards, but a noteworthy one nonetheless.

Transferable rewards

While Capital One miles are easy to accrue, they’re even easier to redeem. By leveraging Capital One’s transfer partnerships, I’ve saved thousands of dollars on travel expenses in the past year alone. At the beginning of the year, I transferred my Capital One miles to Avianca Lifemiles for a business-class ticket to Ireland. 

In February of this year, I saved $750 on a last-minute flight to Denver by transferring 20,000 Capital One miles to Air Canada Aeroplan. This was an economy class flight that was pricing out at twice this level on the United website. My Capital One miles came in handy, saving me both points and cash.

Gotta love Aeroplan. I just spend 20k miles on a last-minute domestic flight that was pricing out at $750 RT. You don't alway have to fly first class to get massive value for your points.

— Ariana Arghandewal (@PointChaser) February 7, 2024

Here are a few other examples of ways to redeem the Capital One Venture card welcome bonus for maximum value:

• Air France/KLM Flying Blue: 50,000 miles one-way business class to Europe.
• Avianca Lifemiles: 75,000 miles one-way for ANA business class to Japan.
• Etihad Guest: 80,000 miles one-way for Royal Air Maroc business class from the U.S. to Casablanca.
• Turkish Miles&Smiles: 15,000 miles one-way on United business class within the U.S. and Hawaii.
• Virgin Red: 10,000 miles each way for an economy class flight between the East Coast and the UK or 80,000 miles for a cruise for two adults.
• Wyndham Rewards: Up to two free nights at an all-inclusive resort in Cancun.

50% off at Capital One Cafe

Capital One Cafes are some of my favorite places to get work done. They’re nicely designed, feature plenty of seating, and serve up Verve Coffee. Verve Coffee is fantastic, and they make their own in-house syrups, which is awesome.

Capital One credit cardholders get 50% off coffee drinks at Capital One. Considering a cup of coffee nowadays can cost $6 or more, this discount is a great way to save money when I need to visit a coffee shop to get work done.

Capital One lounge access

I get two complimentary visits to the Capital One lounge as a Capital One Venture cardholder. Capital One currently has just three lounges but is expanding them. These lounges have rave reviews for their complimentary food, amenities, and beautifully designed spaces. They’re also less overcrowded than lounges in the Priority Pass, Amex, and Chase networks. 

Now granted, Venture cardholders will no longer have lounge access starting January 1, 2025. But in the meantime, this benefit is useful and one more way I get value out of my Venture card.

$120 Global Entry or TSA Precheck application fee credit

The Capital One Venture Card comes with a $120 Global Entry or TSA Precheck application fee credit every four years – a perk usually available on premium credit cards with high annual fees. At $95, the Capital One Venture Card’s annual fee is much more reasonable than other cards that offer this perk. Furthermore, at $120 the Venture Card’s Global Entry/TSA Precheck credit is higher than other cards.

I used my credit to renew my Global Entry application earlier this year. Granted, I did it before the credit increased from $100 to $120, but I didn’t need that extra $20 anyway. Global Entry includes TSA Precheck, and both programs have improved my travel experience immensely. While I would happily pay $120 for this perk, the fact that my Venture card covered this fee was icing on the cake.

Capital One referral program

When most people ask me for a credit card recommendation, my answer is usually “the Capital One Venture Card.” It’s the best option for folks who want to earn above-average rewards on their credit card spending without tracking category bonuses across multiple cards. The miles are also easy to redeem for folks who want to put them towards travel purchases (though you can transfer them to airline and hotel programs).

When I refer a friend or family member, I love earning bonus miles through the Capital One referral program. You can do the same: Capital One currently offers 20,000 bonus miles for every successful referral, up to 50,000 miles a year. 

Even one referral a year offsets the Venture Card’s annual fee, making it easy to justify renewing my card. 

Account lock and virtual account numbers

I don’t know about you all, but I’m constantly getting hit with credit card fraud. At least three times a year, I have to request a new card and fight various unauthorized charges on multiple accounts. Maybe it’s because I still use physical cards (which are easier to hack), or the constant retail site hacks compromising my data.

In any case, replacing my cards is a hassle. Virtual account numbers are an essential benefit I look for in any credit card. The Capital One Venture Card offers virtual account numbers and earns a flat 2X miles on all spending, making it my go-to card for online shopping.

If my card gets compromised, I don’t have to order a new card – just a new virtual account number. Furthermore, I can request an account lock if I suspect I’ve lost my credit card (which happens a lot and turns out to be a false alarm).

Hertz Five Star status

When I want to be an adult and splurge on a non-terrible rental car company, I book with Hertz. The Capital One Venture Card gets me free Hertz Five Star status, which includes perks like 25% bonus points on Hertz rentals and a complimentary one-class upgrade. Hertz Five Star status typically requires completing ten rentals or spending $2,000 annually. 

I don’t rent enough to earn Hertz Five Star status, so receiving this perk for being a Venture cardholder is a huge plus. It saves me money and provides a better rental experience during the 1-2 times a year I need to rent a car.

Lifestyle Collection benefits

Capital One Lifestyle Collection provides Venture cardholders extra perks on eligible hotel bookings. These benefits include a $50 experience credit, room upgrades, free Wi-Fi, early check-in, and late checkout (based on availability).

Granted, these perks aren’t exactly on par with Amex Fine Hotels & Resorts, but they’re solid for enhancing a stay without hotel elite status.

Capital One’s Lifestyle Collection includes vacation rentals, which are ideal for traveling with a family or large group. You’ll want to compare Capital One Lifestyle Collection rates against direct bookings to ensure you get the best deal and don’t overpay for perks.

Travel accident insurance

One of the most valuable Capital One Venture Card benefits is worldwide travel accident insurance. Cardholders receive up to $250,000 in coverage against accidental loss of life, limb, sight, speech, or hearing. All you have to do is charge the cost of travel to your Capital One Venture Card to qualify for this benefit. 

I get pretty comprehensive travel insurance from other credit cards, but it’s nice to know that the Capital One Venture travel insurance is available in case I need to use this card for my travel expenses.

Capital One price match guarantee

Back when Citi offered a price rewind benefit, I managed to knock $200 off the price of a new bed by filing a claim. Citi has since done away with this benefit, which is why Capital One’s price match guarantee is such an important perk to me. 

Not every credit card offers this benefit, giving me one more reason to hold on to my Capital One Venture card long-term.

Capital One Offers

The Capital One Offers portal has some of the highest cash-back rates at popular online merchants. In fact, I often compare their rates on Cashback Monitor; Capital One usually comes out on top. 

For example, they currently offer 14% cash back at Macy’s – 5% higher than what Rakuten is offering. You can even save on hotel bookings, with Capital One offering 4% cash back at IHG, 12% at Expedia, and 8% at Marriott. 

Capital One rental car insurance

I don’t rely on my Capital One Venture Card for rental car insurance, but it’s definitely an excellent backup. Capital One rental car insurance covers up to the full vehicle value against theft and damage. Coverage is primary abroad and secondary in the U.S.

Secondary coverage means you must file a claim with your own insurance first. Capital One’s coverage kicks in only after your personal coverage is denied.

Capital One roadside assistance

As a Visa Signature Card, the Capital One Venture includes roadside assistance. Capital One roadside assistance provides towing services (up to five miles), tire change, jump start, standard winching, lockout service, and fuel delivery of up to five gallons. It’s convenient if you ever run into car trouble and your personal insurance’s service provider has a long wait (been there).

Capital One Entertainment

The Capital One Venture Card earns 5X miles on Capital One Entertainment spending. This card benefit should come handy considering Capital One Entertainment offers tickets to popular events and concerts. 

In the past, Capital One Venture X cardholders received exclusive access to Taylor Swift tickets. While that wasn’t part of the Capital One Venture card benefits, it might be in the future (here’s hoping).

Capital One Dining

Food is one of my favorite things about travel. I love trying out unique places I can’t find in the boring California suburb I live in. I like to switch it up and check out hold-in-the-wall places mixed in with the occasional fancy splurge.

The Venture card gives me access to Capital One Dining, including restaurants where reservations are hard to come by. The list is small, but it includes some top-rated places. 

The Cultivist museum membership (discontinued)

Last year, Capital One Venture benefits included a free six-month membership to The Cultivist. The Cultivist membership starts at $440 and provides free admission to popular museums worldwide, including The Met in New York, San Francisco Museum of Modern Art, the National Portrait Gallery in London, and others. 

While the benefit has been downgraded and is only available to Capital One Venture X Rewards Credit Card holders, I was able to use mine last year to visit the Art Institute in Chicago. My friend Elena and I spent the afternoon enjoying this incredible museum and seeing some famous artworks up close. Admission normally costs $32 per adult, but I got us tickets for free. The $64 I saved offset a large chunk of the Venture Card’s $95 annual fee. 

Maximizing the Capital One Venture card benefits

Capital One Venture card benefits can add up substantially if you leverage them correctly. In order to make the Capital One Venture Card worth it, you’ll have to earn at least 9,500 miles per year (equal to $95). To earn 9,500 miles, you’ll need to spend between $1,900 on eligible travel purchases or $4,750 on everything else.

Another way is by taking advantage of the recurring Capital One Venture card benefits. The Global Entry application fee credit, travel protections and transfer rewards can help you save money on travel and recoup the card’s $95 annual fee.

It’s also important to note that in order to get the most value from your card, you have to pay it off on time (and in full) every month. Paying interest or late fees on your balance can eliminate any value you might otherwise get from Capital One Venture card benefits.

Before you apply for a Capital One Venture Card

If you’re considering applying for a Capital One Venture Card, familiarize yourself with Capital One’s application rules. These rules dictate whether you’ll get approved for a Capital One card, so it’s worth reviewing them before applying:

• Capital One credit score requirements: The Venture card requires Excellent credit, which is usually defined as 740 and up. There’s no guarantee you’ll get approved with this credit score, but it’s a guideline worth noting.
• Capital One six-month rule: Capital One may not approve more than one credit card application every six months. This isn’t a published rule but based on reports.
• Capital One five-card rule: Reports indicate you can’t have more than five Capital One credit cards at a time. This won’t be an issue for most people, but worth noting anyway.
• Capital One 48-month rule: Capital One reportedly won’t approve you for a personal card if you’ve received the welcome bonus in the past 48 months. So if you’ve opened up a Venture Card in the past four years, you may not be eligible for another weelcome bonus.
• Two cards in 30 days: If you’ve applied for two or more Capital One cards in the past 30 days, you may not be approved for another one.

Bottom line

The Capital One Venture Card has provided me continuous value beyond the initial welcome bonus and the $95 annual fee. Between the useful rewards and practical perks, it has saved me hundreds, if not thousands, of dollars on travel every year. I don’t like to hold on to credit cards unless they offer some long-term benefit or opportunity to earn rewards. The Venture Card does both. 

I got a Venture X card two years ago and canceled it last year because it didn’t make sense for me to have yet another premium card. I knew I wouldn’t use the $300 travel credit, and I preferred to save $100 rather than get a 10,000-mile anniversary bonus. While I may decide to upgrade from the Venture to Venture X card at some point, I’m content with the little “work” I have to do to justify the $95 annual fee.

Do you have a Capital One Venture Card? Is it a long-term keeper for you too?

Opinions expressed here are author’s alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.