Does Capital One Venture have no annual fee?

Capital One Venture has no annual fee the first year but costs $95 annually after that. But its sibling, Capital One VentureOne, does have no annual fee every year.

Some people like to get Capital One Venture while it has no annual fee the first year, earn its big initial bonus, and close their account before the regular $95 annual fee kicks in. That bonus is 50,000 miles (worth $500 in travel) when you spend $3,000 in the first three months. But since that covers five years of Capital One Venture’s annual fees, closing your account isn’t really necessary. Plus, Venture has great ongoing rewards: 10 miles per $1 spent on hotels.com/venture and 2 miles per $1 on everything else.

If you don’t plan on spending enough to earn the Venture Card’s initial bonus, the no annual fee Capital One VentureOne Card is a great option too. It has a 20,000-mile initial bonus, 10 miles per $1 on hotels.com, and 1.5 miles per $1 on all other purchases.

Here is what you should know about Capital One Venture’s no annual fee:

• Capital One Venture has no annual fee for the first 12 months.
• Venture has a $95 annual fee starting the second year. It will appear as a charge on the statement following your account anniversary.
• The Capital One VentureOne card has no annual fee every year. It offers a 20,000-mile initial bonus and 1.5 miles per $1 spent,
• Capital One Venture’s initial bonus (50,000 miles for spending $3,000 in the first three months) covers the cost of the card’s first five annual fees.

Don’t be quick to pass on a credit card just because it has an annual fee. Review your spending habits and travel preferences and determine if you’ll spend enough to warrant paying the annual fee. Capital One Venture has no annual fee for 12 months, which lets you try it out before the $95 fee kicks in. But be aware that it would not be good for your credit profile to open a credit card and then close the account a year later.