Capital One Venture Card Review

The Capital One Venture has a $95 annual fee. Capital One Venture's $95 annual fee is higher than the average annual fee among new credit card offers right now. It's not the only fee you need to worry about with the Capital One Venture Rewards Credit Card, either.

Capital One Venture Fees

• Annual Fee: $95
• Cash Advance Fee: 3% (min $10)
• Foreign Fee: $0
• Balance Transfer Fee: $0 at this Transfer APR
• Max Late Fee: $40

To log in to your Capital One Venture Rewards Credit Card account, go to the login page on the Capital One website or mobile app and enter your username and password in the appropriate fields. Then, click “Sign In” to access your online account. If you don't already have an account, you will need to start by clicking “Set Up Online Access” in order to set up a username and password.

How to Log in to a Capital One Venture Credit Card Account

1. Register your Capital One Venture credit card for online account access: Click “Set Up Online Access” and enter your last name, SSN or bank account number, and date of birth to verify your credit card account.
2. Choose your Capital One Venture username and password: The username must be between 6 and 12 characters. The password must be 8 to 32 characters long, with at least one letter, number and special character.
3. Log in with your new Capital One Venture card credentials. From the login page on the Capital One website or mobile app, fill out the “Username” and “Password” fields using your new credentials, and click “Sign In” to access your account.

After you have signed up and logged in, you'll be able to manage your Capital One Venture card account online. You can pay your credit card bill, see credit card statements, monitor account activity, and change account information such as passwords and automatic payments.

If you forget your login information, click “Forgot Username or Password?” on the Capital One login page. Then, just follow the prompts to reset or retrieve your username or password.

You can easily redeem Capital One Venture miles through the Capital One website, mobile app or customer service phone line. What's unique with this card, though, is that you can redeem miles either before or after you pay for your travel expenses. You can also redeem miles for gift cards and other non-travel rewards, but you'll get half the value if you do that.

Here's how to redeem Capital One Venture miles online:

1. Log into your account on either Capital One's website.
2. Click on your rewards balance.
3. Choose your redemption method. The options are: “Redeem travel purchases,” “Book a trip,” “Get gift cards,” “Get an account credit,” “Get a check by mail,” and “Transfer Rewards.”
4. Follow the instructions for the option you've chosen.

So, Capital One Venture's redemption process is one of its major perks. Plus, with 2 miles / $1 spent, along with a 75,000 miles initial bonus, miles build up fast. It's also useful to note that you can redeem through the Capital One app, too. Just log in with the same user name and password, click “Redeem Rewards” at the bottom, and select one of the options.

Here are the options for redeeming Capital One Venture miles:

• Redeem travel purchases: 1 cent per mile

  Capital One shows you what travel expenses you've made in the past 90 days, and you can use your miles to “erase” some or all of the cost from your credit card statement.

• Book a trip: 1 cent per mile

  The Capital One travel booking tool is powered by Orbitz, so you should have access to most major airlines, hotels and rental car companies.

• Get gift cards: 0.5 cent per mile

  90 stores are represented, including Bed Bath & Beyond, Lowe's, AMC and Best Buy. Gift cards for as little as $10 are available for many stores. But the denominations vary by store.

• Get cash back: 0.5 cent per mile

  You can get a deposit into your checking or savings account or receive a check by mail. You can also set up automatic cash redemption when you reach a certain number of miles.

• Transfer miles: Value depends on the partner

  If you have another Capital One Venture or other travel rewards credit card account, you may be able to transfer your rewards to it.

The most convenient part about redeeming Capital One Venture miles is that you don't have to decide to use them before making a purchase. You can use the so-called purchase eraser to pay for any type of travel expense charged to your card in the last 90 days. Capital One isn't stingy about what it considers travel, either. It includes everything from hotels, airlines and cruises to Airbnb and Uber. That flexibility, combined with Capital One Venture's top-notch rewards value, makes it one of the best cards available to frequent travelers.

Capital One Venture miles are worth 1 cent each when you redeem them for travel expenses. For example, you can either use miles to pay for travel-related purchases that appear on your bill or book travel with miles through Capital One. But each Venture miles is worth just half a cent or less each when redeemed for gift cards or cash back.

It makes sense that Capital One Venture Rewards miles are worth the most when redeemed for travel. It's a travel rewards credit card, after all. And there are clues everywhere, from “Venture” being part of its name to the fact that it offers rewards in the form of miles. So it's pretty straightforward: full value if you use the card as intended, half as much if you want the flexibility of cash. But continue reading if you'd like more details on all of the redemption options.

Here's how much Capital One Venture miles are worth:

• Travel purchase “eraser”: 1 cent. You can use miles to pay for travel expenses once they appear on your bill, instead of using money from your bank account.
• Travel booking tool: 1 cent. You can book airfare, hotels and rental cars through Capital One and pay with miles.
• Cash back: Half a cent. You can opt for either a statement credit or a check in the mail.
• Gift cards: Half a cent. Gift cards from 80+ retailers are available. They range from Amazon.com and Applebee's to Walmart and Wa wa.
• Donations: Half a cent or less (if available). In the past, Capital One has let you redeem miles for a charitable donation. But that option isn't available right now. And I don't know when (if) it will return.

Although Capital One provides a few different options for redeeming your Venture Rewards miles, they're worth most when used for travel. So if you don't plan to travel enough to make good use of the miles you earn, look for a card with cash back rewards instead.

Your Capital One Venture approval odds are good if you have a credit score of 700+, which is considered good credit. Approval odds for the Capital One Venture will also be influenced by your annual income and existing debts. Applicants will need to be 18+ years old with a U.S. mailing address and an SSN, as well.

What You Need for Good Capital One Venture Approval Odds

• Good credit or better
• Enough income to pay credit card bills
• Low debt relative to income
• Low housing costs relative to income
• U.S. mailing address
• Age of 18+
• Social Security Number

Keep in mind that many of these are guidelines rather than requirements. For example, you may have a low annual income but no debts and still get approved.

To get a better sense of your approval odds before applying for a Capital One Venture, you can check to see if you're pre-qualified for any offers on the Capital One website. Pre-qualifying does not guarantee approval, but it does indicate that you have pretty good odds of getting approved for certain cards, and it won't affect your credit score.

If you want to enhance your application by improving your credit score, WalletHub's free credit analysis can tell you what steps to take.

Your Capital One VentureOne credit limit will be at least $2,000. That's the bare minimum, but it could be more. Capital One VentureOne has no disclosed maximum credit limit. How much you're approved for will depend on a combination of your credit history, income, and existing financial obligations.

You aren't necessarily locked into your first Capital One VentureOne credit limit forever. Three months after opening your account, you could be eligible to request a credit line increase if you've paid on time so far. But there are no guarantees. There is, however, a bit more information you should know.

Capital One VentureOne Credit Limit Info:

• All approved applicants for VentureOne get a credit limit of at least $2,000.
• Some online posts from users have claimed they were approved for limits of $20k and above.
• To be approved for Capital One VentureOne, you need good-to-excellent credit. That means a credit score of 700 or above.
• Capital One recommends that VentureOne applicants never have defaulted on a loan or been more than 60 days late in the past year. You should also have an existing credit card with a limit of $5,000+ that's been open for at least three years.

• You can request a credit limit increase when your Capital One VentureOne account has been open for three months. After that, you can request an increase every six months.
• To be approved for a VentureOne credit limit increase, you need to make on-time monthly payments to all your creditors. You should also be paying more than the minimum with VentureOne.

The $2,000+ that you'll get as your Capital One VentureOne credit limit compares decently well to other popular credit cards for people with good credit. For example, the Capital One Venture credit limit is $5,000+, the Citi Double Cash limit is $500+, and the Chase Freedom credit limit is $500+.

Yes, the Capital One Venture Rewards Credit Card is a metal credit card. The Capital One Venture Card is made of stainless steel and recycled materials and weighs around 16 grams, compared to 5 grams for a traditional credit card made of plastic. Functionally, the metal Capital One Venture Card doesn't work any differently than a plastic credit card, though it will be more durable.

Quick Facts About the Metal Capital One Venture Card

• Made of: stainless steel and recycled materials
• Weight: 16 grams
• Annual fee: $95
• Ongoing rewards: 2 - 5 miles per $1
• Notable benefits: Global Entry or TSA PreCheck fee credit, Capital One lounge access, rental car insurance, travel accident insurance and extended warranty

Before applying for the Capital One Venture Card, make sure that it's a card that fits your needs and budget. While metal cards are flashy, they won't do you much good if they don't match your spending habits.

The Capital One Venture credit limit will be determined based on your creditworthiness, once your application has been approved. Factors such as your annual income, debts and liabilities, repayment history and length of your credit history are among the ones generally considered for determining credit limits.

If you're unhappy with your credit limit and would like to request an increase, Capital One allows you to submit your request online. Bear in mind that new accounts are generally ineligible for credit line increases. So it's advisable to wait a few months before requesting one. Requesting a credit limit increase for Capital One Venture won't affect your score as Capital One uses soft pulls for these credit inquiries.

The biggest differences between Capital One Venture and VentureOne are their annual fees and rewards rates. VentureOne is the no annual fee version, so it doesn't reward cardholders with as many miles as the Venture card.

Capital One Venture vs. VentureOne

If you travel a lot, the Capital One Venture card is probably worth it. Otherwise, the Capital One VentureOne card might be a better option.

It is quite hard to get a Capital One Venture card because you need a good credit score of 700 or higher to have decent approval odds. The Capital One Venture card also is beyond hard to get for anyone who has applied for a Capital One card more than once in the past 30 days or who already has 5 Capital One credit cards. Those things will get you denied.

That said, if you meet the credit score requirement and have enough income to pay credit card bills, the Capital One Venture card is no harder to get than other elite credit cards for people with good credit.