The best Capital One Visa rewards card is the Capital One Venture Rewards Credit Card because it offers a sign-up bonus of 60,000 miles for spending $3,000 in the first 3 months. Capital One Venture cardholders also earn 5 miles per $1 spent at Capital One Travel and 2 miles per $1 on all other purchases. You can redeem for any travel expense, too, with no restrictions. This card’s annual fee is $95. All these factors make Capital One Venture not just a good Visa rewards card but also one of the best travel rewards cards in general.
If you are looking for travel rewards without a $0 annual fee, the Capital One VentureOne Rewards Credit Card has a 20,000 miles initial bonus for spending $500 in the first 3 months. However, you only get 1.25 miles per $1 on all purchases (with the exception of 5 per $1 at Capital One Travel).
Both cards, like all Capital One credit cards, do not charge foreign transaction fees.
If you’re a small business owner, there are also some good Capital One Visa business rewards cards to choose from. With Spark Cash for Business, you get unlimited 2% cash back on everything you buy. The card has a big bonus, too: $500. You have to make $4,500 worth of purchases within the first 3 months to get it. There’s a $0 annual fee for the first year. In year two, and every year after, the annual fee is $95. If you travel frequently for business, you might prefer the Spark Miles for card.
Capital One Venture works by giving you 2 miles per $1 that you charge to your card. You can then redeem those miles for gift cards, cash back or travel expenses – with no blackout dates or restrictions. Although it’s nice to have options, there’s a catch hiding here. Capital One Venture’s double miles are worth half as much when redeemed for gift cards or cash.… read full answer
Each Capital One Venture mile is worth a penny when redeemed for travel. That gives you what amounts to 2% cash back on all the purchases you made to earn them. But they’re worth half a cent each, otherwise, leaving you with just 1% back.
That makes sense, considering how travel-oriented Capital One Venture is. But it’s certainly something to be aware of going in. On that note, there are a few other details that you should probably know about before submitting an application. They’re listed below.
Here’s how Capital One Venture works:
Initial bonus. 60,000 miles for spending $3,000 in the first 3 months.
Double miles on everything. Capital One Venture rewards you with 2 miles per $1 on every purchase.
Lots of flexibility. Many credit cards have blackout dates, seating restrictions and other limitations that block you from booking travel with points or miles. Capital One Venture doesn’t. You can pay for any travel-related purchase charged to your Capital One Venture with miles. You can also book travel through Capital One‘s Redeem Rewards Page, if you’re interested.
Travel redemption is the way to go. Your miles are worth 1 cent apiece when used to pay for travel but only half a cent each when cashed in for a gift card or cash back.
Annual fee. Capital One Venture costs $95 per year, just to have. If you use it regularly, that shouldn’t be an issue. Its bonus alone covers for years’ worth of annual fees.
Miles don’t expire. Miles won't expire for the life of the account and there's no limit to how many you can earn. But if your account is closed, you will lose any rewards you have not redeemed.
In conclusion, Capital One Venture offers plenty of spoils. But it requires responsibility on your part, too.
Capital One Quicksilver rewards are simple: You get 1.5% cash back on every purchase, with no limit on the amount you can earn, and you can redeem for a statement credit or check at any time. For context, most cash back credit cards give you 1% back as a base rate. And unlike rewards cards with points or miles, you’ll always know exactly how much your Capital One Quicksilver cash back is worth.… read full answer
So, the Capital One Quicksilver rewards program is generally characterized by a combination of simplicity and top-shelf savings potential. There are a few nuances you should be aware of, though.
Here’s what you need to know about Capital One Quicksilver’s rewards:
There’s an initial bonus. Spending $500 within 3 months of account opening gets you an extra $200 cash bonus.
Your cash back doesn’t expire. But you’ll lose it if you close your account or Capital One closes it for you (because you didn’t pay the bill, for example).
You have redemption options. You can choose to schedule redemption of all your rewards at a certain time of year, or after you’ve earned a certain amount. You can manage all of these choices by logging in to your account at CapitalOne.com. You may also redeem your cash back for previous purchases or gift cards. If you don’t choose to set up automatic redemption, you’ll have to request your cash back through your account. You can do this at any time.
You might be able to transfer. If you have another Capital One credit card account, it might be possible to transfer your cash back rewards there. But it depends on which card it is.
Overall, I’d definitely say Capital One Quicksilver is one of the best cash back credit cards. And I definitely recommend setting up automatic rewards redemption if you get it.
To use the Capital One Purchase Eraser, log in to your Capital One account online or through the mobile app. Click on your rewards miles, and then select the “Cover a Purchase” option. Your eligible travel purchases will show up, along with the number of miles required to pay for each in full. You can also erase a portion of a purchase, if you don’t have enough miles to cover the entire amount. Once you’ve selected the purchase(s) you want to erase, the miles will be immediately subtracted from your rewards balance. Your account will then be credited with the redemption within 7 days.
When redeemed with Purchase Eraser, 1 Capital One mile is worth 1 cent. However, if you redeem your miles for a non-travel statement credit (not using the Purchase Eraser), they’re only worth half a cent each. So, it’s worth using Capital One miles rewards credit cards for travel expenses – you’ll have more eligible purchases to erase, and you’ll be able to get more value out of each redeemed mile.
Most travel rewards credit cards are much more restrictive when it comes to redeeming miles. But Bank of America is one credit card company that allows cardholders to erase travel purchases like Capital One.
WalletHub Answers is a free service that helps consumers access financial information. Information on WalletHub Answers is provided “as is” and should not be considered financial, legal or investment advice. WalletHub is not a financial advisor, law firm, “lawyer referral service,” or a substitute for a financial advisor, attorney, or law firm. You may want to hire a professional before making any decision. WalletHub does not endorse any particular contributors and cannot guarantee the quality or reliability of any information posted. The helpfulness of a financial advisor's answer is not indicative of future advisor performance.
WalletHub members have a wealth of knowledge to share, and we encourage everyone to do so while respecting our content guidelines. This question was posted by WalletHub.
Please keep in mind that editorial and user-generated content on this page is not reviewed or otherwise endorsed by any financial institution. In addition, it is not a financial institution’s responsibility to ensure all posts and questions are answered.
Ad Disclosure: Certain offers that appear on this site originate from paying advertisers, and this will be noted on an offer’s details page using the designation "Sponsored", where applicable. Advertising may impact how and where products appear on this site (including, for example, the order in which they appear). At WalletHub we try to present a wide array of offers, but our offers do not represent all financial services companies or products.