Capital One Venture Credit Card Review

Spoiler alert: Not all travel rewards cards are created equal. Below are things to know about the Capital One Venture card and why it stands out from the crowd.

Since Capital One introduced this card several years ago you may have seen a number of commercials touting the Capital One® Venture® Rewards Credit Card. From the original Capital One barbarians asking what’s in your wallet to the current slate of famous actors making the same inquiry about their Venture card, the commercials have stayed on message. Should you rush to complete an online application for the Venture card or is this just typical advertising hyperbole?

Admittedly, two miles per dollar sounds almost too good to be true and it’s logical to assume there has to be a catch somewhere. But after completing a thorough review of the card here are our five major observations:

#1. The double miles are real

It’s neither hype nor are any tricks buried in the fine print – this is the real deal when it comes to lucrative travel rewards. With the Capital One Venture you really do get 2 miles for each dollar spent. There is absolutely no cap or miles ceiling on this – you literally get unlimited double miles, regardless of how much you spend. Card issuers are notorious for including insidious (and often hidden) limits on too good to be true-sounding reward levels in their terms and conditions, so it’s truly refreshing to see that this was a genuine offer with no caveats.

#2. You’re literally earning the equivalent of 2% on everything you buy

This is how the Venture rewards program works: Each mile you earn is worth $.01 towards a travel purchase, which may not sound like much but it actually adds up pretty quickly. Examples:
how much Venture miles are worth

Since you are earning two miles per dollar in card purchases that equates to a significant two percent back on all your routine spending when you use your miles for travel purchases. This is the aspect of the program that can really add up quickly.

The nice thing about this rewards scheme is that you have the flexibility to book and pay for travel on your own without being required to use a particular non-discounted airline or hotel website to directly book your trip. For example, you could purchase a discount ticket on Spirit or Southwest Airlines a flight or a book a hotel room through a discount aggregation site like Kayak or Trivago. Just charge that purchase to your Venture card and afterward, you can redeem your “miles” to offset that eligible purchase. This effectively allows you to double dip.

#3. There are no foreign transaction fees

When you make purchases outside of the US, just about every card on the market will sock you with a foreign transaction fee. It’s usually around 2-3% of the purchase price. Getting back from a trip abroad can entail a nasty shock if you didn’t use a card that waives foreign transaction fees.

On one hand you want to use your credit card while traveling because it’s much safer than cash – but on the flip side – if you have to pay that 2-3% surcharge, the cost vs. benefit is a major dilemma. But with the Venture card you don’t have to take the risk of carrying lots of cash, whether in dollars or the local currency, as all foreign transaction fees are waived to begin with.

#4. Venture offers a number of benefits

As a Visa Signature card, you get a number of cardholder perks including an extended warranty program, travel accident insurance, a free 24/7 phone concierge service, and others. The application page goes over the details/rules for each benefit.

#5. There are 2 different Venture cards

Although the commercials tend to be for the double miles version, there are actually 2 different types depending on your needs:

  • Capital One® Venture® Rewards Credit CardCapitalOne VentureThis is the more popular offer because it allows you to earn 2 miles per dollar. The annual fee is $59 but it’s waived for the first year. If you apply now you can earn 40,000 bonus miles (equal to $400 in travel) when you spend $3,000 on purchases within the first 3 months.
  • Capital One® VentureOne® Rewards Credit CardCapitalOne VentureOneThis is a no annual fee version which gives 1.25 miles per dollar spent. Reviews from forum members have said its customer service and benefits are just as good as the $59 version. If you apply now you can earn a one-time bonus of 20,000 miles once you spend $1,000 on purchases within the first 3 months. With this one you get 0% intro APR on purchases until May 2016 (11.9%-21.9% Variable after that).

Verdict?

Both of the Capital One Venture credit cards outlined above deliver value. Even if you prefer other cards for special categories of spending, on all other purchases (which usually make up the bulk of your spending) there’s a good chance you’re only earning 1%. So having a card that can earn more than that is a fantastic deal.

But which one should you get? Well we created this graph comparing the Capital One Venture vs. VentureOne, so you can see where the break-even point is…

Capital One Venture vs Venture One

Once you’ve spent $7,866 the value of your earned rewards (assuming you redeem them for travel) will be worth the following:

Venture: $157.32
VentureOne: $98.32

The difference between the two numbers is $59… the same amount as the annual fee for the Venture. So as long as your annual spending will be more than $7,866 (average of $656/month) it makes more sense to get the $59 Venture. If you spend less, go with the no annual fee VentureOne card.

Capital One Venture RewardsEarn 40,000 bonus miles when you spend $3,000 on purchases in the first 3 months. $0 intro annual fee for the first year; $59 after that.

Capital One VentureOne RewardsEarn 20,000 bonus miles when you spend $1,000 on purchases in the first 3 months. 0% intro APR on purchases until May 2016 (11.9%-21.9% Variable after that).

This review was written or last updated May 20, 2015

 
Comments

Can I use the Capitol One Venture Card wherever Visa and Master Card are accepted? Or, will I have a heck of a time trying places in the States and Europe to use the card if I decide to get it.

I have had this card for about a year & a half. I was solicited by them regarding a balance transfer offer in the last couple months & I needed it(dental work). I used a “check” & transfered a balance from another card that was getting ready to expire. I was concerned over some wording on the transfer papers so I called & was told that as long as I sent funds over the minimum balance due, there would be no extra fees etc. I pay off my purchases each month in full & when I transferred the funds I sent at least $300.00 over my purchases for the month. This month I reviewed my bill to pay & they charged me interest on my purchases! I called & was told that I was carrying a balance(well duh) & that unless I paid the card IN FULL there would be a fee! Although my transfers were zero my routine purchases were not!! I pay off purchases from each statement each month!!! The ONLY way the transfers will not penalize you is if that’s the ONLY thing on the card. FYI!!! This is a bullshit scam, NO other card acts like that & Capital One is making a grievous error. I immediately got another card(Discover IT) pushing all amounts due from Capital One to this card & AS SOON as the new card is in my hand, I will be cancelling this POS card. It’s really a shame as I was enjoying this card immensely

I applied for the Capital One Venture card and was accepted for it but after making two purchases my card was put on hold for “suspicious activity” and upon calling Capital One they told me I had to either send them copies of my identification or go to a local bank and have the bank call them to confirm my identity which I was told would only take five minutes. Because the process was supposed to be so quick I went to a bank where I’m not a customer at since it was the closest one and the identification process took 20 minutes which is ridiculous since Capital One was using the bank’s resources and making other customers wait just so they can try to increase their bottom line.

Capital One must place a ton of trust in bankers since after they were finally able to look up my account they had the banker read off the personal information on my license, including my social security number which wasn’t on my card thankfully, and then they called the bank and had a teller tell my banker to answer the phone to ensure they were in fact speaking to someone at the bank. Making customers and banks play games like this so a card issuer can get free fraud protection is wrong and something the banker had never encountered in her years of experience. Because of this invasive verification technique I will be very reluctant to get another Capital One card and will be cancelling this one after I take advantage of my welcome offer since they violated my relationship with them almost immediately by treating me much more like an identity thief than a valued cardholder.

Has anyone experienced a reduction in miles when something such as a product or service was returned? Cap one recently reduced my miles due to a return that was made. I’m okay with this but i recently booked a car rental and flight for vacation that i will be taking in less then a month. I used miles and am now worried that they will cancel out the miles i’ve already used. There are a few more returns that have not posted. Please note that i did not make these purchases with the intent to earn miles and later return the products or services. Thank you in advance for your insight.

I have one big problem with this card and we just activated it! I wanted to lower the credit limit as the initial credit limit was too high for my needs. The representative on the phone advised he was not able to do that! Sine when would a credit card company refuse to lower the credit limit? Why? My only thought is they want me to have a high credit limit so I may end up with a high balance and then subsequently paying more in interest . This seems way too weird!

My recommendation to you is keep the high limit. This is only going to help your credit! Number one, the more credit you are offered the better your score. Number two, your debt to credit ratio is also a factor in your credit score. So, if they gave you $20,000 credit limit and you only planned on using $2,000, it’s better for your score to use 10% of your limit rather than if you lowered your limit to $5,000 and used 2,000 because your debt to credit ratio on this card alone is 40% which is going to lower your credit rating. If you are responsible with this card you will only help your credit! So keep the high limit, just be responsible!

Wow… these reviews are very over whelming to me as I have a Discover Card, and due to nobody accept Discover Card in Japan (even thou they say wherever accept JCB I can use it, which is not true so far in my last two trips to Japan), so I’m considering to get a good rated, with awesome rewards program, no annual fee, no foreign transaction fee Credit Card. But after reading the above reviews, I’m all confused and don’t know what to do!!! Also I read that Cap 1’s “No foreign transaction fee” is NOT really good, due to their exchange rate is higher than normal or something? Now, what should I do? Any recommendations?

if I have a $844.00 flight and have 79,000 in points, will capital one venture
take the all my points and put it towards my flight cost?

Although the Venture card does not charge “transaction fees” as advertised, they get you by screwing you on the exchange rate. The British Pound is now 1.495 USD but the USD charge on my card worked out to an exchange rate of around 1.57 so this equates to a “fee” of around 5%!! I’d be better off using my regular card with a 3% fee.

Can I use travel rewards for vacation rentals like Homeaway, VRBO, or airbnb?

Everyone seems stuck on at least one point – CapitalOne cards are not tied to miles…they are tied to the cost of an airline ticket.

Cost of the ticket (not miles) x 100 = points necessary.

About 3 year ago, I redeemed CapOne miles for airline tickets at the frequent flyer program redemption rate, i.e 35k miles for a one way transcon ticket. I discover that now their program is tied to the cost of the ticket, which just about triples the miles required. After saving up 560k miles, I will now get my $2800 credit and cancel the card. No notification of the benefit change, just the shock of discovering it. Grrrr…

Question for you, I’m trying to determine which is the most cost effective route. I will be living in Canada and getting paid in USD. There are no foreign transaction fees on the Venture card, however I’ve been told that there are conversion fees with every transaction (fees to exchange my Canadian dollar purchase into USD). These fees are very difficult to find. Would it make more sense for me to have payroll convert the paycheck into Canadian dollars and get hit with that conversion fee? Or to use my Venture card and at least get the miles. -confused in Canada

I make almost 100k/year, have over 100k in various accounts, and a FICO score of around 800 and I got approved for $10,000. You have to be kidding me. This card will be thrown away when it arrives in the mail. Waste of time, and now I have a credit inquiry on my record. S.O.B.

worldphotoartist

This is the exact reason I gave up on Capital One several years ago. The Cap was nuts. My Fica is over 835, yet when I asked for a credit limit hike – I was simply told NO. I simply didn’t renew. Now not a month goes by where I don’t get a spam email begging me to come back with an even worse offer.

why would you ever need more than a 10k credit line on one card? sounds like you may be trying to do bust out fraud.

I routinely charge $25k to $35k a month on my card. At a lower limit it was a pain to constantly pay down the account weekly, sometimes daily to prevent going over my limit. The limit has been raised to $50k.

I recently looked into redeeming points from my CapitalOne Venture card as I was shopping for a new TV. I learned 2 important things. Firstly, the merchandise values are pretty much at retail pricing so that’s a lousy deal and secondly, they are completely eliminating the merchandise rewards in Spring 2015. They are however continuing the gift card redemption for the points. So, what did I do with my 100,000 points? I researched the best gift card deal and I redeemed them all for Target gift cards. The rate is great. For every 10,000 points I could get $100 worth of Target gift cards for a total of $1,000 with no expiration dates.. This is a great deal because I received 40,000 free points when first signing up for the CapOne card. That translates into a FREE $400 value. At the double points rate I only needed another 60,000 points to get to that 100,000 mark. It took 3 years but I really only had to charge a total of $30,000 to get that additional 60K points ($30K x 2 = 60K add’l points). I now have $1,000 worth of gift cards for Target and had to truly only make $30K worth of purchases. Of course, you can redeem anytime at 10K points = $100 gift card. Take note, when you redeem you can either get these as egift cards or true hard plastic gift cards. You can redeem in any multiple of 10K points at a time. You will need a mobile device if you go with egift cards. If you want hard plastic cards (for gifts) you can do this by calling the CapOne Rewards line and ordering the cards. It takes about 2 weeks to receive them in max amounts of $250 each. I plan to let the card expire and then sign up again to get those free 40K points. I compared this to all other card offers on NerdWallet.com. While the 2% cash back seems great on a different card the “free” $400 gift card value at sign up makes this the best value out there as long as you make the required amount of purchases in the first 3 months to get the free 40K points.

I’m having a hard time finding the cash BACK rate (not cash advance rate) for the Venture card. Anyone know? Am I blind? Sorry if someone already asked this.

There is one card that offers 2% cash back. You get 1% at the time of purchase and another 1% for the amount you pay on your bill. However, look at my notes of 1.10.15 regarding how I maximized the value with Target cards. Spending the value at Target is better than getting cash back when you factor in the potentially free 40K points that will be worth $400 on Target cards.

I notified Cap One Fraud dept of my travel schedule including my trip to Mexico. Despite this, my Cap One Venture card was declined over a four day period. I spent at least 6 hours in the store on the phone with their fraud supervisors attempting to work it out. Eventually , on Xmas Eve , it was resolved after causing me to miss a lunch date,hours of vacation time, embarrassment of being declined ( I have the highest credit score, never paid my bill late — never) and real anxiety and fear that I would not be able to get the Xmas gifts I had chosen for my family, or have use of my card on my two week vacation with my family. I ad to forego a boating trip for fear that my card would be declined . While their reps were nice, it still did not compensate me for the many hours of my vacation that I wasted trying to work this out. I have a history on their card of travel and vacationing in Cabo st lucas Mexico so their fraud dept shld have done some research. Plus I spoke at least 5 times with a fraud supervisor. I have a high credit limit and I also pay an annual fee for this card. You cannot count on Cap One Venture card… Make sure to bring another credit card because the Cap Ine Venture card cannot be relied on….or you may be embarrassed and severely inconvenienced as I was.

I applied for this card because of its simplicity. 2 miles for everything. I have earned over 90,000 miles so far. No foreign transaction fees. I don’t know how well they can handle fraud because Citi is really good at that. I’m not a frequent traveler, so Chase Sapphire Preferred is not a good choice. I am happy with this card. 2 miles for everything is very generous, and honestly I’m not sure how long the bank will be able to survive with that generosity…little concerned :-)

Don’t be suckered in by this card. The “no Hassle” motto is not true. I wanted to book a cruise and redeem my points. I spent over an hour talking to a customer service rep about how to redeem all my accumulated point (miles) I had earned in the past year. On two credit cards, my husband and myself we spend over $20,000 worth of charges, and had a total rewards balance of 46,000 points. and bottom line is that we could only redeem the points that were accumulated for the $1450 price of the cruise,which added to $181. NOT the points we had accumulated over the past year. The customer service rep was evasive and misleading until I kept asking her point blank, yes or no question, could we redeem all the accumulated points, that totaled $469. Finally after an hour of BS talk, I found the truth. Don’t waste your time with this card. It is a hassle, a hustle, and a convoluted complicated piece of trash befitting the banksters of credit card companies. I am redeeming my pitiful points, and canceling my cards. Life is too short for this type of complexity.

Sam, I can’t quite decipher what your issue was, but I have had this card for 5 years (since back when it was their Visa Signature card) and I have never had an issue redeeming for travel, stay, merchandise, or gift cards. Their online redemption system is very simple. I will agree with the others that have mentioned the credit limits seem low, they finally doubled my limit after I paid for a majority of my wedding on my card which required me to make mid-statement payments so I didn’t go over my limit. Overall, I highly recommend this card if you are someone who uses reward points. It is very simple to redeem purchases with rewards online, I can’t speak to redeeming through customer service.

I wanted to ask if all the rest of you had received your new credit card (because of the Home Depot hack), received in the mail already activated? I have never gotten a card that I didn’t have to do something to activate it before using. They confirmed it was “for my convenience”, but since the first set of cards got lost in the mail and I had to request more, this seems alarming to me. Anyone can pick up the envelope and start using the card? That doesn’t seem like good security at all!

Regarding travel, they don’t do their travel rewards like the airline cards. If you get 50,000 points you get $500 off toward your ticket. That’s why there isn’t any blackout date, etc. but it definitely dilutes the value. The airline cards let you go to some very expensive places for the same price as the cheap places.

Has anyone tried to dispute a charge? I’ve read numerous reviews they don’t help you at all in disputing a charge. I always had great luck with Chase both on helping resolve conflicts and potential security breaches. They often called me about a suspicious charge. I’ve had the Venture card for over a year and have not received a single call nor have any charges been declined when I traveled.

Cap 1 has been great started off rebuilding with a 300 limit card and worked up to a 1000 limit and a couple of months later was bumped up to 5000, sent me letter saying that I have earned a opportunity for the venture One card No annual fee, 10,000 limit, and YES it is a signature card which comes with all the perks. Cap 1 gets a bad rap but for me being patient and responsible paid off. VERY happy with new card!!!!

Does anyone know how many miles it takes to redeem a (con 48)US flight?
My current United card is 24K (with restrictions) and 50K (no restrictions).Would like a comparison.

I would love to know the answer to this question. The credit card companies and airlines are diluting benefits at an ever increasing rate.

Wow. I signed up 2 months ago for the spend 2k/20,000 pts and they’re offering 3k/40,000 pts. I just called to see if they could upgrade my offer (I haven’t passed the 3 months yet) I hope they respond well in 4 days…

Has anyone had any experience w/returning an item whose purchase you had redeemed miles on? I’ve had the card for a year, and have been weekly paying for a Disney vacation for much of that time ($100/week or so), which has made it easy to frequently use the purchase eraser tool, and I’ve probably “erased” about $500 in purchases or more, so far. Here’s the issue: I’ve just discovered I can save some $$ by changing my reservation w/Disney, but that requires cancelling the res. I’ve been paying for, refunding to the card, then repurchasing the trip on a new reservation. I know that’s a lot of details, but I’m trying to wrap my head around what might happen, since all of those purchases I “erased” will be refunded to the card. It’s possible nothing will happen other than I’ll lose 6000 points, then get 6000 points back when I pay for the new reservation, but the question struck me in the middle of the night and I had to ask! I just don’t want to see some $500 “fee” pop up because the erased purchases are now REALLY erased! You know what I mean? I’m overthinking this, I’m sure…but saving $275 w/Disney only to somehow have to pay more elsewhere is NOT my idea of a good time!

I did the same thing. All they do is subtract the reward miles from your reward balance based on the refund. So they would only take 550 miles away and be done with it. It’s ok if you don’t have enough miles in the balance, it just goes into a negative balance and you can bring it back up with future purchases.

I recently was approved for the venture one card. Can I use this card wherever VISA cards are accepted?

Very disappointed with service. Was told by two representatives that my three months of spending the $2000 to get my 20,000 miles would begin when I activated my card. I needed to wait to get additional cards as well as make some travel arrangements. Before I activated the cards I decided to check one more time and told NO, the program began when I was approved. Capital One did nothing to rectify the fact that I was given incorrect information. I am now going to cancel the cards and go with Barclays.

Can you redeem the miles for either the Capital one Venture card or the Barclaycard for Gas? Does gas count as a “travel expense?”

I have a lot of cards with capital one always pay on time never late and they turn me down for this card put GE capital gave me a card and that’s who gets my buisness gonna pay off all my capitalone cards and get rid of them!

So I have a question. I’m sure someone has probably answered this already in the comments but honestly I’m on a time budget right now before I have to go to work so I’ve got to make this quick. I have a very limited credit history because I’m young and have only had a credit card for a few years. My credit score is a 710 and I always pay my bills on time. I would like to get either the venture one or the venture card because I am moving abroad and I need a credit card that will have NO foreign transaction fees and where I am going you do not want to carry tons of cash on you. I have heard awesome things about Capital One so I feel they are the best choice. However because of my limited credit history I’m not sure if I’ll be qualified for the card. Has anyone with limited credit history been successful getting this card?

Question, if I purchase a airline ticket for $500, then redeem venture rewards 50000 miles for that purchase. Do I still get the 1000 miles earned for the $500 purchase or are they erased also.

Yes, mike.
Since you are purchasing the flight with the card, then when the bill comes in you have the option to check mark that purchase to pay with your points, done.
Look in your statement on line under rewards

Deceptive, dishonest!!!
I have Capital One Venture card. I got it because it offers commission free currency conversion for foreign purchases. This is what happened today. We were buying an airline ticket online in Euros and tried to pay w/ an Amex Delta card. It also offers commission free currency conversion for foreign purchases. The charge after conversion came to $112, but the transaction did not work for some security reason, so I switched to Capital One card, which worked. However, the charge came to $120, even though the original amount was $81 Euros in both. So I got interested why such a difference for the same amount in Euros and called both cards. The Capital One reps could not answer any questions, the supervisors could not explain it either. They were happy to refund the difference, but that is not the point, is it? I wanted to know if there is some deceptive practice going on here. Turns out there is!!!. The Capital One computer appears to have a different conversion rate, 1.47 as opposed to 1.39 published rate today. The reps tried to weasel their way out of admitting it, but the numbers speak loudly! I am stopping using this card from now on. The HIDDEN FEE comes to 7.1%, way more than the other, honest, cards charge in the open!!!

Thanks for investigating. This is very helpful info!

Good to know Jacob. Will watch out for that one. I have CO Venture, but FYI, a nice alternative to CO Venture is the Barclay World Arrival+. Plus being that they just added chip AND pin which is very hard to find in US cards right now although it’s slowly changing. Aside from being way more secure at merchants that accept it, it’s also VERY handy, if not required, if you plan to use the card in Europe where local vendors will often strongly resist or deny swiping(even if they’re not supposed to). Also the Arrival’s real rewards rate is about 2.2% due to the 10% redemption refund bonus. Yearly fee is $89 though I think.

Not sure why you’re so upset; it was probably just a computer error that they fixed without a problem. Mistakes happen, it’s how companies deal with it that makes a difference, and seems they corrected yours just fine.

Thanks Jacob this just goes to show you “nothing is free” they are making back the “rewards” in other ways.
I also read that the 11.9 -19.9 APR actually was 19.9 and a card holder could not get a straight answer on that either. I have 9 percent now so even though the Capital One card has no annual fee if you pay more in interest…I have changed my mind thanks to all your honest reviews!

Whatever you do, DON’T get a CHASE card

Over 99% of the time, they will favor the merchant over you.

I was planning to sue Chase over 10 times, but was too busy. They’re not off the hook. When I return to the U.S. they will get a big, fat lawsuit

Please elaborate on this. It seems like if you had 10 good reasons to sue, yet did not, then your claim sounds empty. I am seriously considering trading from AMEX PLAT, and would like to know more about your problems you had with them. I’ll keep checking back to see if you reply. Thanks.

I ran into the same problem with Chase; it was a very small amount but shocked me that they did in fact favor the merchant over me. Not is what is supposed to happen!

Me and my attorney planing to do class action against chase sapphire cards. You welcome to join us.

DONT DO IT

I have both these cards and they use to have a good earn more program called “perks central”
where you could get 7x plus your 2x for every dollar spent. EX say you shop on itunes, amazon or you wanna buy a cruises, you go on CAP 1 in their private market place use the card and you’ll get even more points. So if you bought a cruise with the card you’d get the 2x plus 5x on like 1400 dollars. YUP they discontinued it

My wife and I are considering the CO-Venture Rewards card and want to know if paying utilities is considered part of “Purchases”. Does anyone know? Also, can this be used as a “debit” card?

Anything (apart from the checks for balance transfer) is considered as a purchase.

Thank you all for posting your comments and views on Capital One. I simply got approved with a $300 credit limit, and that i need positive if i used to be progressing to settle for the cardboard or undue to worry of messing up once more. I’ve learned from my immature mistakes and understand the worth of paying things off on time, so as to own sensible credit. Right now, im average however need to enhance to not simply sensible however glorious credit. Hopefully this mastercard can facilitate ME get such goal. Again, give thanks u all for posting your comments.

I have been defrauded by this card and by the dealer and tour guide on my trip to Morocco. I have traveled to Morocco many times and used another card ( Chase Sapphire) for my purchases. I switched to the Venture card because it was easier for the dealers to process — a fraudulent dealer managed to process it twice — ie. charged me twice as much on the card as what the value of the purchases were. I contested this, contacted the card company, the dealer, the tour guide and Venture decided to believe the people who were double charging me for fraudulent services to me, a person who has excellent credit and has always paid on time. Well, I will pay through the nose for this, but do you want to as well? Just get a Sapphire card, you are better off, no problems with it. You don’t want to be a victim to this card which happily participates in fraudulent activities perpetrated abroad.

leo gabrielian

Patricia. You do have a recourse against the bank. File a complaint with the FTC and if that does not help file a small claims action against them and subpeona all the people that were involved in defrauding you. Be very meticulous in documenting your file.
When they get served they will think twice in coming to court from another state.

After talking with a Rep, they informed me that I was eligible to upgrade my existing card. After talking with them I was ready to upgrade my card, and then I was informed I was not eligible for a single one of the new card bonuses. If I wanted the bonuses (waived fee, 20000 points, etc) I would have to cancel my current card, and apply for a new one because “that’s how the system is.”

After talking with a supervisor on the phone, same verdict…that’s how the system is. Can someone please explain to me if there is any way to get the bonuses with an upgrade and/or why “that’s just how the system is” and why no one can help me. I’ve been a member for 10 years, pay my balance in full every month, and I’ve never missed a payment. I can’t even begin to describe how frustrating it is to have a supervisor say “Cause that’s how it is in our system.” Upgrade or new card, what’s the difference?

If I can’t get these bonuses I’m thinking about dropping usage on my CapitalOne card and getting a Barclay World Card.

i just upgraded mine without having to cancel my card or apply for new credit.

Get the Barclaycard Arrival. Actually better deal and you pretty much are excluded from the Capital One Venture deal. But don’t cancel your Capital One especially if you have been a member for 10 years. Also you will lose your miles if you cancel.

This is a sales tactic, and they’re not telling you the truth. Phone sales reps get paid for new accounts only (or get paid way more than an upgrade), so that’s their way of “harmlessly” duping you in to opening a new account.

My guess is that they can see that you’re approved for the better card (on top of the existing one, should you want both), and once they know they can cancel the old one and definitely get the sale, you “can’t upgrade because of the system.”

When dealing with call center reps who are on commission, always take a second to think about how they’re paid and whether they’re doing something only to get a bigger paycheck.

Sad but true – cell phone company employees do this stuff all the time as well.

They are not compensated whatsoever.

Credit card representatives don’t win a commission off of card upgrades, new accounts, etc… Graeme yes in general the bank stipulates that when you get an upgrade from the same bank you have to close the previous card. They are trying to avoid general issues with payments being made to the incorrect accounts(which happens a lot), and one of the most important reasons is because they want you to start using the new upgraded card ASAP because the bank makes more money off you with the new upgraded account than it would with the previous card you used to have. No matter how long you have been with them you would still have to close the previous account and open the new one.

Upgrading is different than applying for that specific card (you upgrading to). Applying for that card will require them to pull (hard pull) ur credit report, and basically u are getting a new credit card with new credit limit (just like a new customer). Thats when you get the bonus. However if you are just upgrading, they don’t pull ur credit history, and there is no new credit involved, they just change ur card, lets say, from venture one to venture, and u get the new benefits of the venture, which is 2% instead of 1.25%.

Be careful–with Capital One you will get reimbursed at the quoted rate ONLY for travel purchases. Other purchases on the card qualify for only half that value.

I am not sure what Linda means. I receive 2 x the points for ALL my purchases with my Capital One Venture Card, not just travel purchases.

She means that if you redeem your points for anything other than travel expenses which you can do, you will only be able to use 1 mile per dollar rather than the double miles. So only use your miles for travel expenses.

Natalie T. Stanfield

What is the difference between the MasterCard Capital One Venture Card and the Visa Capital One Venture Card?

I pair this with my Schwab checking account, which reimburses your ATM withdrawal fees. Great for travel.

I love this card!!!! One question. If I travel outside of the US does the card provide travel insurance? Thanks

The insurance is actually covered by Visa. I did use it to rent a car in Turks and Caicos. Someone hit the rental car and caused $900 in damage. Visa did reimburse me but it took a little while as they kept asking for all kinds of documentation/information to make it difficult.

I applied 2 cards, one from citi and one is venture. The citi card told me to wait one week to process my application but capital one gave me immediate approval. After a week citicard called to verify my application, but I was approved by capital one. I told citi to cancel my application.

I have had the CapitalOne VentureOne Rewards card for about two years. I travel a lot internationally, and the no foreign transaction fee, is a major plus. I use the credit card and a debit card, linked to a CapitalOne checking account. The debit card has no foreign transactions fees, and you do not pay for any unauthorized purchase. The CapitalOne VentureOne card and the CapitalOne debt card/checking account, are an awesome combination for international travelers!

I had a US airways card and their customer service was garbage! I have been well pleased with capital one venture rewards card!

I have had this card for 18 months. Great reward program. The only time I had a merchant refuse the card was in Galway Ireland. The merchant would only take a card that had a micro chip in it. This card does not have the chip so it was refused. Not a big deal. The No Overseas Extra Fee feature of this card saves a lot when you are traveling outside the USA.

Thank you for this review. It was the most helpful one out there!

Thank you all for posting your comments and views on Capital One. I just got approved with a $300 credit limit, and I wasnt sure if i was going to accept the card or not due to fear of messing up again. I’ve learned from my youthful mistakes and know the value of paying things off on time, in order to have good credit. Right now, im average but want to improve to not just good but excellent credit. Hopefully this credit card will help me obtain such goal. Again, thank u all for posting your comments.

All my dealings with Capital One, from the application process to customer service calls, have been a pleasure. Could not recommend a card more highly. You will be glad you applied for this card.

Great card.

I got my bonus miles the instant I had racked up the required purchase level. I went to use them on a booking thru Hotwire and could not, because it did not register as travel in the online banking website. I called them, there was no wait time, and no arguments, just a helpful rep that said “sure no problem, I will take care of it”.
The next day I had my statement credit. :)

I am desperately trying to rebuild my credit. How foolish I was to not take credit as serious as it should be so I am certainly paying the price. Thankfully, I am getting the opportunity to rebuild it but I am given very low balances. Capital One gave me a MC and I am hoping that with paying on time, without missing a payment that they will eventually give me a Venture card. Anyone been there and been given a Venture card down the road?

Laura,

Please don’t fall in the credit trap. Unfortunately, this madness prevails in this part of the world. Credit system was devised for corporations and really holds very little significance in the lives of people like us. It also depends on why a person needs it so there is no simple answer.

Answering your question, make sure you have a good revolving balance. Minimize the use of credit cards and maximize the use of debit card or cash (keep it 20-30% credit cards and 70-80% debit cards; also pay off the purchases on the credit card before the statement for that month is prepared). The more liquidity one shows over time, the better credit one gets. Depending on one’s history, it might take a few years before the credit card companies gain confidence in a person. Reply to this post if further guidance is needed. Hope you succeed in the art of financial management!

How much of a negative score does my credit score get if I applied for (and was approved) for a Travel Rewards card within the last year and now if I apply for the Venture One card? The Venture One is a better deal. Is it an issue opening two credit card accounts in less than a year?

Thanks.

I had an issue with my Ex wife taking out a ton of credit cards in my name and ruined my credit. About a year ago, I got approved for Capital One’s basic card, with only a $500.00 line of credit. Generally I would buy something, and immediately pay it off online once I got my next paycheck, so usually I would end up going through about $1000.00 a month, even though I only had a $500.00 limit. After 6 months, they increased my line of credit to $750.00. After 9 months they reduced the time they took to credit my account from 5 days to about 48hrs. After a year they increased my line to $1000.00. A month later I called and asked if they could switch to Venture Card and they said YES.

Hi Laura, I have been in your shoes with regard to poor past credit. Today I called Capital One to see if I could upgrade my Platinum card ($29 annual fee) to something with no more annual fee. To my surprise, they said, “Sure” and upgraded me to the VentureOne card. Keep in mind, I filed bankruptcy in March of 2006, and the Capital One web site says that the Venture One card applicants need “excellent credit” with no previous bankruptcy.

Apparently, because I have been a good customer since 2009 (always paying on time every month, rarely keep a remaining balance, etc) they were willing to upgrade me.

Very nice. I don’t know how long you have been a Capital One customer, but if you are patient and responsible for at least 3 years, my guess is you will be considered worthy to upgrade to a much better card with no more annual fee. Good luck!

Dan (in Milwaukee, WI)

Laura,
I started out with Capital One about 6 years ago while rebuilding my credit and I just “upgraded” to a Venture Card. I may have been able to do this even sooner but never looked into it. With consistent payments Capital One increased my credit limit on 3 different occasions even before I upgraded to a Venture Card. Good luck.

I had Capital One Rebuilder cards for 5 years before Discover Card finally approved me ( also it is a card I had included in BK 10 years earlier) so whomever said they blacklist is wrong. My second prime card was American Express Zinc…. Another creditor that had been included in BK 10 years earlier so they are another card that did NOT blacklist me. It actually has my member since date as 97 which is when I opened the account I had included in BK. my third EBay MC then Amex JetBlue then finally Venture from Cap One. So keep rebuilding ! You will get there!

I have been with Capital One for a very very very long time (16 yrs) and yes I started with a low balance card to rebuild after a failed marriage. Well they just told me I am approved to move to the VentureOne card no fee card. I have even used Capital One for a car loan and I paid that off on time in full never late. SO yes it can happen I hope not as long as it took me but who knows.

I’ve been a Capital One customer since 2007 and had less than stellar credit (high 500’s) at that point. The limit was quite modest. However, I always paid on time every month. Have carried a balance, have carried a zero balance, maxed it out, paid it off, etc, etc…

After a few years my credit line was raised, automatically.

Last month they converted it to a VentureOne card, without my request. Great customer service.

Thank you so much for this post, particularly with the graph in deciding which of the two Capital One cards to get! I really appreciate it!

I think I know what MU was talking about. I think “Kathie” and “Jordi” were offended just by taking what they read rather than the what MU was really really saying. It’s just a figure of speech guys… listen to what MU is saying….. Hey MU, I’ve been there. I moved on to do something else that I enjoy doing and getting paid with the same company. Good luck with your next adventure, hopefully to a better one :)

I feel your frustration somewhat. Unfortunately you lack the intelligent verbal ability to express yourself without the F word. It diminished everything else you had to say for me to empathasize with you. Also….America is capitalized !!!

Kathie – I agree that MU’s use of foul language really diminishes any point he’s trying to make, but since we’re on the topic of verbal ability, what does “empathasize” exactly mean?

I love the Vikings…..can’t stand Alec Baldwin….

some people demand too much from credit cards. the rule is, if you want a good relationship with your credit card, pay more than minimum of not all balances on time. most important, don’t go on a shopping spree. it’s just a big red flag on your account. spend what you can afford. i have been with capital one for 5 years now. i use the card sparingly and pay full balance on time. they never gave me griefs. : )

The trick to having good credit is to pay off what you owe, each month. Secondly, don’t “consistently” spend outside your means. That is, it is OK to spend $5000.00 one month, and take 2 or even 3 months to pay it off… but don’t make it a regular practice. If you can’t afford it, don’t buy it.

I am amazed at the negative reviews. I lost my card on vacation last year and called Capital One. They had a card overnighted to me. I had a new card the very next day! Customer service was awesome!

I have had a Capital One card for 12 years, My experience with customer service has been going from good to great. No issues nor charges for purchases made overseas. Now I just opened a bank account with them and could not be happier. They also got two JD Power certifications last year for excellent customer service

For case and obvious point, see M U’s rant above.

I’ve had experience with Capital One, and it’s all been bad. I place them in my collection of banks that I recommend that you avoid. Others in this group are: HSBC, Citi, US Bank, GEMB and BofA (and their FIA Card Services group) plus all the many subprime lenders out there. I’ve done business with a lot of banks over the years. I would say go with an AmEx(a charge card or Blue Cash Preferred) and/or Discover(Escape is great). You will probably need a VISA or MC; for that I think JPM Chase, Wells Fargo and little advertised Nordstrom, fsb are good bets too. Take a look at your credit union and USAA(if you qualify). Consider all aspects of having a particular card. It’s not just about rewards; look at service, billing disputes and others’ experiences before you apply.

I have always had good CS with Capital One. I have a platinum rewards card, yet keep getting Venture solicitation. Is there somthing I’m missing here? They want to increase my rewards 25% for nothing? I know the interest rates are higher, but I always pay my total balance.

Is it possible that the new contract gives them greater flexibility in making arbitrary changes down the road??

Beverly Goodnight

I have one capital one card the rewards platinum and I love it. Always pay on time and for a person trying to rebuild their credit they are number one in my book, best customer service and they helped me by believing in me and my credit score is getting better and better. Thanks to Capital One they opened the door for other companies to give me credit just pay your bills ol time and the quality of my life has been so rewarding.

I just applied for the Cap1 Venture card as I’m traveling overseas for 6 months. The no foreign transaction fees are great, and as long as you redeem for travel you get a decent 1% rate. The cash redemption option is a bad value, but to be fair, the card is advertised as a miles card so if you wanted cash, why you get this card?

However, they have some racket going when trying to reach them while overseas. They declined a purchase because of the $ amounts so I tried to call the ‘call collect’ phone # on the back of the card. It wouldn’t go through. When I finally got an operator on the line, they said the 804# on the back of the card has a collect call block on it! So, instead I logged into my account, sent a secure email with my details, the merchant name, $ amount, etc. so they wouldn’t decline the transaction. The response I got was “call the collect # on the back of your card, we can’t accept written communication for this request”. Again, AMAZING.

Tracy Hall Jr

I had the same problem while abroad (collect call refused). Next time it happens, go to an Internet Cafe and place a voice-only call with Skype. You may have to obtain avfewdollars of Skype credit and pay a few cents a minute.

I have found that to many B & B and Lodges will not take a Discover card !

please stay away !!!!

There are no issues what so ever with capitalone customer service. I have been using their card for 3 years now, I had a late payment twice and charged the late feee, and when I called customer service, they waived it, with out a second question. Also had a over the limit usage fee, which was also waived. I am sure the customer service is outsourced as we can understand by the ascent, but I did not have any issues, as my fees was waived :-)

Everyone, calm down. The negative reviews are so unbelievably overblown and exaggerated — OR maybe I’m just very lucky. I’ve had nothing but STELLAR service from Capital One. I’ve had the Venture card for several months now, so far no complaints, it’s been great. That said, I can’t comment on any redemption situations as I have not tried to redeem any miles at this point.

I have been with Capital One for nearly six years, and I have nothing but good stories and feedback regarding their customer service. They’ve been outstanding, for these reasons specifically:

1) Every time I’ve had to call, I’ve never had a foreign call-center rep(not that it would bother me anyway).
2) CapOne customer service also has always been very gracious to me, thanking me every time I call for my loyalty and being with them for such a long time.
3) CapOne customer service reps are always polite, I’ve never had a single experience with a rude/unpleasant rep.
4) Forgiveness. There have been 2-3 instances, in the six years I’ve been a member, where I genuinely forgot to pay my bill on time. I was an EXTREMELY BUSY college student, it happens. The reps, seeing that I consistently pay on time, fixed the problem and reversed all chargers IMMEDIATELY. No hassle what so ever, no need to beg or plead.
5) They offer limit increases to me, again, no need to beg or plead.
6) No unbearably long wait times on the phone, I’ve got a rep almost instantly most times, or within a reasonable wait-period.
7) Website is a dream to use, makes things so easy.
8) Replacement cards have arrive quickly in the mail, and are painless to acquire. Usually a nightmare in my experience.
9) Fraud liability and protection: a dream.
10) Probably what blew me away from the start — THEY TOOK A CHANCE ON ME. When I was a lot younger, nobody would take a chance on me to give me a credit card, not even my local credit union which I only banked with for a short period at the time. I’m very grateful Capital One helped me out with my first credit card, $500 at the time, more than enough for a young man eager to start building credit.

DON’T BE FOOLED, CAPITAL ONE CUSTOMER SERVICE, AND IN GENERAL, HAS BEEN AN OUTSTANDING COMPANY TO ME.

This is a perfect post! The Venture card is awesome and Capital One has been great with customer service. I called about an extended warranty with an ottoman that we purchased and suddenly had a tear in it. They only needed a receipt to give me credit for a new one. I didn’t need to send a picture or anything!

Also, did you know that redeeming give cards through their rewards also allows you to get the same value as travel? For example a gift card for Lowe’s, Target, or many other merchants is 10,000 points for $100. That is the same as travel credit. If you don’t travel much, you can still get the double “miles.”

I have been 100% happy with my card!

The TV ad featuring Alec Baldwin is misleading. First, the actor notes that it is nearly impossible to get an air ticket from airlines mileage programs for 25000 miles, which is true, but then he continues that with the Capital One Venture Card you can get air ticket on any airline at any time. The confluence of the two is the impression that with the Capital One Venture Card you can get air ticket on any airline at any time for 25000 points. This is false. Each point counts as 1 cent towards the purchase of an air ticket for whichever the price is. Since most long-haul tickets today cost more than $400 it means that with the Capital One Venture Card you get a ticket for more than 40000 points. But most airlines these days have a two or three tier pricing and for fixed 40000 miles you can still get an unrestricted air ticket at any time.

I have the Capital One Venture One Visa Signature Card, and this is a GREAT CARD! Earning 1.25 miles per dollar spent is better than the standard 1 point per dollar, or 1 point per 2 dollars, and way better than the Chase Sapphire card. I have called Customer Service several times and get through and get VERY GOOD assistance right away. I have had a No Hassle Cap One card for about 10 years and upgraded to the Venture One Visa Sig card and have not had any issues with either card. I also have the Sapphire Preferred and have cancelled it since it charges an annual fee. I think a lot of the people that are having issues have bad credit or did not qualify for the Visa Signature and received the regular Platinum card.

I love my Cap One Venture Visa Sig card ! I also think all the guys that are complaining didn’t qualify for the Visa Sig card. I travel internationally A LOT, and this is one of the few cards that has no foreign transaction fee. This alone has saved me thousands per month. The customer service is great and you get a live rep within seconds of entering your credit card number. The card is also very nice looking, all gold with Passport stamps on it. I like this better than my AMEX Blue and Chase Sapphire Cards. There is no annual fee and the points are easy to redeem. If you are using this card for travel then getting a credit for airfare or travel expenses is no problem.

I’ve had Capital One for years. Had issues here and there and their customer service was excellent. Every issue was resolved quickly and to my satisfaction. I’m in no hurry to switch. I have one major credit card and it’s Capital One. It’s all I need. Also have great service redeeming rewards. I had a Chase Continental Airlines Visa for years and the rewards got so skimpy and hard to use I dropped them like a bad habit. I just wish I found Capital One sooner. Live and learn….

Hated my crappy Capital One student card, then they upgraded me to the Venture card.

Night and day, its like dealing with two different companies. When I call about my venture card, I get a real person, US based who quickly handles my concerns. It took me 3.5 hours to unlock my old C. One card while I was traveling and had filed a travel thing with them so they WOULDNT lock my card.

Hey all, how do you compare the Capital One VentureOne (the free version- no annual fee, 1.25% on purchases) to the Chase Sapphire? Which card works out better?

I have a question! If I convert Venture to VentureOne to avoid annual fee, do the miles carry over? That is if I get the sign up bonus of 40,000 miles and say earn another 20,000 from spending over an year, would that 60k miles carry over to the VentureOne or would I lose that?