First Credit

Capital One VentureOne Rewards Credit Card: Review

The Capital One VentureOne Rewards card is targeted at frequent travelers. As a card owner you get more bonus miles than with most other travel credit cards, and there are great travel perks such as accident insurance, travel assistance service, travel medical assistance, travel savings and upgrades. You need to have excellent credit to qualify for this card.

Rewards program

This credit rewards card gives you the option to save your bonus miles for travel expenses or cash, gift cards or merchandise. The rewards bonuses do not expire and and there is no limit on the amount you can accumulate. This gives you the chance to save up your miles benefits towards a purchase you really want. If you want to spend your miles on travel expenses you can use them toward airline tickets, hotels, vacation packages, car rentals and even cruises. It is also good to note that there are no blackout dates or advance booking required in order to purchase airline tickets. The way it works is you pay for your travel reservation with your Capital One VentureOne card then you will be reimbursed by either redeeming your miles over the phone or online. Capital One VentureOne pays 1.25 miles in benefits for every dollar you spend using the card. Rewards are paid as statement credits for travel benefits. In addition, the company provides a bonus of 10,000 miles if you spend a minimum of $1,000 in the first three months of card membership. If you shop Capital One’s Perk Central retail network you can earn up to 15 miles per each dollar.

Fees

There is no annual fee with this card. If you travel frequently overseas or order items from overseas using the Internet you will be pleased with the 0% foreign transaction fee if you are paying in a foreign currency. Many card issuers charge between 3% and 5% for foreign transactions. There is no fee for a balance transfer but as Capital One does not provide any introductory low or zero percent APR for balance transfers there is no incentive to transfer your balance to this card. Capital One does offer 0% APR for purchases through October 2012.

Travel benefits

The travel benefits available with this card make it perfect for the frequent traveler. Card membership provides you with 24 seven day a week travel assistance services, emergency card replacement, medical assistance, legal assistance, and car rental insurance. If you use the card at qualifying hotels, resorts and spas you will be able to get complimentary room upgrades or room discounts. If your airline carrier loses your luggage, Capital One will reimburse you up to $3,000 if you paid for the flight with the VentureOne Rewards card. One of the best benefits available with this card is the Visa Signature Concierge offering a complimentary 24 hour seven day a week concierge service. You can use it to book make your travel arrangements or to make dinner reservations or find the perfect gift when you are home or away.

Additional perks

If you buy big ticket appliances or electronics frequently and always purchase the warranty program from the retailers you will like the Free Extended Warranty perk that comes with membership to Capital One VentureOne card. If purchased with this card and the manufacturer’s warranty is three years or less Capital One will increase the length of the warranty as much as twice the length of the original warranty for qualified items. Another beneficial perk is Free Purchase Security which will either reimburse you or replace any item you purchase with the Capital One VentureOne card if reported accidentally damaged or stolen if reported within 90 days of purchase. There is a maximum of $500 for each item or $50,000 per card user.