Top travel card with a generous welcome bonus

By / February 18, 2024

A travel rewards card can help you pay for your next vacation and even reduce some of the stress associated with travel. With the Capital One Venture Rewards card, you can earn valuable rewards on your purchases, plus the card offers perks like auto rental coverage and travel accident insurance.

  • Annual fee: $95
  • Welcome offer: Enjoy a $250 Capital One Travel credit, plus earn 75,000 miles after spending $4,000 on purchases in the first 3 months
  • Card type(s): Travel
  • Purchase APR: 19.99% – 29.99% variable
  • Recommended credit score: Good, Excellent
  • Rewards rate
    • 5x miles on hotels, vacation rentals, and rental cars booked through Capital One Travel
    • 2x miles on all other purchases
  • Benefits
    • Receive up to a $100 statement credit for Global Entry or TSA Precheck application fees
    • Receive a $50 experience credit, room upgrades, and early check-in at eligible hotels
    • Access Hertz’s Five Star membership tier, offering free upgrades, a wider selection of vehicles, and more

The Capital One Venture Rewards card is a great fit for frequent travelers who enjoy not having to track multiple spending categories or rewards rates.

There are several added benefits you can take advantage of with your Capital One Venture Rewards card:

  • Hertz Five Star Status: As a card member, you qualify for Hertz Five Star Status. You can skip the rental counter, and you can choose from a wider selection of car thanks to your status.
  • Fee credit for TSA PreCheck and Global Entry: Receive a $100 statement credit to cover some of your fees for TSA PreCheck or Global Entry.
  • Auto rental damage collision waiver: If you turn down the rental car company’s coverage and use the Venture Rewards card to cover the cost of your reservation, you’re automatically covered against theft or damages.
  • Travel accident insurance: Purchase your fare with your card, and you will be covered by accident insurance at no added cost.

The Capital One Venture Rewards card has a relatively simple rewards structure. You’ll earn the highest rewards rate — five miles per $1 spent — on hotels, vacation rentals, and rental cars booked through Capital One Travel, but you’ll earn a flat two miles per $1 spent on all other purchases.

Here is how much you could earn in rewards if you spent $5,000 with your card:

Spending Rewards rate Miles earned
$2,000 on hotels, vacation rentals, and rental cars 5x miles 10,000
$3,000 on gas, grocery store purchases, and entertainment 2x miles 6,000
16,000

Although the value of your miles may vary based on your redemption method, 16,000 miles could be worth as much as $160.

You can redeem your miles in the following ways:

  • Transfer miles to loyalty programs: You can transfer your miles to one of Capital One’s 15+ loyalty program partners, such as British Airways Avios, Emirates Skywards, or Air Canada Aeroplan.
  • Redeem for gift cards: Redeem your miles for gift cards to major retailers and merchants.
  • Capital One Travel: You can redeem your miles for flights, hotel reservations, and car rentals through Capital One Travel.
  • Cash: Redeem your miles for statement credits, or request a check.
  • Amazon.com: You can also use your miles to pay for some or all of your purchase through Amazon.com.
  • PayPal: Through PayPal, you can redeem your miles at checkout on purchases from major retailers.

In general, your miles are worth one cent each, but certain redemption methods, such as redeeming your miles at checkout with certain retailers, may give you less value.

If you love to travel, but want to avoid the hassle of keeping track of bonus spending categories or different rewards rates, the Capital One Venture Rewards card may be for you. You’ll earn a higher rewards rate on hotels and rental cars booked through Capital One Travel, and a simple, flat rewards rate on all other purchases.

  • No foreign transaction fees: The card doesn’t charge foreign transaction fees, so you can use it for purchases outside the U.S. without incurring added fees.
  • Simple rewards structure: Instead of a complex rewards structure, you’ll earn a flat two miles per $1 spent on every purchase.
  • Generous new cardmember bonus: For a card with a fairly low annual fee, the new cardmember offer is surprisingly generous. You’ll get a $250 credit to use on Capital One Travel in your first cardholder year, plus earn 75,000 miles if you spend $4,000 within three months of opening an account — a $1,000 value.
  • Limited travel benefits: Although the card has some travel benefits, it lacks common coverages like travel interruption/cancellation insurance or baggage delay reimbursement.
  • No promotional APR on purchases: The card doesn’t offer a promotional APR on purchases or balance transfers. However, there are other cards with generous introductory APRs, which allow you to pay off your dream vacation without worrying about interest charges.

You can make a credit card payment online, through the Capital One mobile app, or by sending a check through the mail:

If the Capital One Venture Rewards card isn’t right for you, consider these alternative travel rewards cards:

  • Rewards rate
    • 2x on Southwest purchases
    • 2x on Rapid Rewards hotel and car rental partners
    • 2x on local transit and commuting, including rideshare
    • 2x on internet, cable, and phone services; select streaming
    • 1x on all other purchases
  • Benefits
    • 3,000 bonus points after your Cardmember anniversary
    • 2 EarlyBird Check-In each year

Why we like it: The Southwest Rapid Rewards Plus card has a lower annual fee than the Capital One Venture Rewards card, and it includes some perks that the Venture Rewards card doesn’t. With this card, you can take advantage of lost luggage reimbursement, baggage delay insurance, and two free EarlyBird check-ins each year.

  • Annual fee: $95
  • Welcome offer: Earn 60,000 bonus points after spending $4,000 on purchases in the first 3 months (that’s $750 when you redeem through Chase Travel℠)
  • Card type(s): Travel
  • Ongoing Purchases APR: 21.49% – 28.49% Variable
  • Recommended credit score: Excellent/Good
  • Rewards rate
    • 5x points on travel purchased through Chase Travel
    • 3x points on dining, select streaming services, and online groceries
    • 2x points on all other travel purchases
    • 1x points on all other purchases
  • Benefits
    • Points are worth 25% more when you redeem for airfare, hotels, car rentals and cruises through Chase Travel
    • Earn up to $50 in annual statement credits for hotel stays purchased through Chase Travel
    • On every account anniversary, earn bonus points equal to 10% of your total purchases made the previous year

Why we like it: Although the Chase Sapphire Preferred card has the same annual fee as the Capital One Venture Rewards card — $95 — it offers some extra perks and benefits. With this card, you’re backed by travel cancellation or interruption insurance, auto rental collision damage waiver, and trip delay reimbursement.

  • Annual fee: $0
  • Welcome offer: Earn 20,000 bonus miles after spending $500 within the first 3 months
  • Card type(s): Travel
  • Purchase APR: 19.99% – 29.99% variable
  • Introductory APR: 0% intro APR on purchases and balance transfers for 15 months, then variable 19.99% – 29.99% APR
  • Recommended credit score: Good, Excellent
  • Rewards rate
    • 5x miles on hotels and rental cars booked through Capital One Travel
    • 1.25x miles on all other purchases
  • Benefits
    • 0% intro APR on purchases and balance transfers for the first 15 months
    • Transfer your miles to more than 15 travel partners
    • Enjoy international travel without additional fees on purchases made abroad

Why we like it: For those looking for a card that offers rewards and travel benefits without an annual fee, the VentureOne Rewards card could be a useful alternative. Plus, it has a generous introductory APR, giving you ample time to pay off your trip or major purchase without interest

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