The card_name is one of the most popular credit cards on the market and is an excellent fit for many active-duty service members.
It offers several travel-related perks ranging from a generous sign-up bonus and point accruals for travel and everyday purchases to several ancillary benefits that will enhance a service member’s card use.
The rewards are easy to earn, and redemption is easy to complete, making this one of the best cards you can carry and use. Plus, Capital One waives the annual_fees annual fee for those eligible for SCRA benefits.
Capital One Venture Rewards Credit Card Overview
Service members have a lot to like about the card_name.
A generous sign-up bonus for new cardholders lets you bonus_miles_full.
You also get 2 miles per dollar spent on purchases and 5 miles per dollar on hotels and car rentals booked through Capital One Travel. Those points can add up quickly if you travel a lot during your deployment.
Service members can also transfer miles to more than 15 partner airline and hotel programs. The per-mile value depends on the transfer partner and how you redeem the transferred miles. You can redeem miles for statement credit against travel purchases or gift cards.
Cardholders also enjoy several other Capital One benefits, including airport lounge privileges, up to a $120 credit for TSA Precheck or Global Entry, rental car coverage, and extended warranty protection, among many others.
You’ll have to pay a annual_fees annual fee (waived under the SCRA) and have at least a 690 FICO score for approval. The other thing to note is that the regular APR is reg_apr,reg_apr_type, depending on your creditworthiness.
Unlike other cards, the Capital One Venture Rewards card has no foreign transaction fee, which is important for those active duty personnel deployed out of the country.
Capital One Venture Rewards Credit Card Benefits & Perks
Summary
The Capital One Venture Rewards card offers several benefits for cardholders.
- No foreign transaction fees.
- bonus_miles_full, equal to $750 in travel.
- Earn unlimited 2 miles per dollar on every purchase.
- Miles won’t expire for the life of the account, and there’s no limit to how many you can earn.
- Receive up to a $120 credit for Global Entry or TSA PreCheck.
- Enjoy two complimentary visits to Capital One Lounges or 100+ Plaza Premium annually.
- Earn 5 miles per dollar on hotels, vacation rentals, and rental cars booked through Capital One Travel.
- Use your miles to get reimbursed for any travel purchase or redeem by booking a trip through Capital One Travel.
- Automatic travel accident insurance for a covered loss at no extra charge when you use your credit card to purchase your fare.
- If your credit card is lost or stolen, you can get an emergency replacement card and a cash advance 24/7.
- Additional warranty protection is free on eligible items purchased with your credit card.
- Coverage for damage due to collision or theft when you rent an eligible vehicle with your credit card.
- Transfer your miles to 15+ travel loyalty programs for more flexibility.
- Capital One Shopping is an online shopping tool that automatically applies available coupon codes to your order.
- Pay for Amazon.com purchases using your Capital One Rewards. You can also use your Capital One Rewards on eligible purchases at millions of online stores through PayPal.
- Capital One Travel Services help you get the best prices on thousands of trip options even after you book. You can pay with your rewards, a card, or both. Capital One proactively checks Expedia, Travelocity, and more to give card members the best price.
- Enjoy free price drop protection when you book your flight through Capital One, and the price drops within ten days. You’ll get up to $50 in travel credit for the difference.
Rates and Fees
- annual_fees annual fee.
- 0% foreign transaction fee.
- Late payment fee of late_payment_fee.
- The cash advance fee is either cash_advance_fee, whichever is greater.
- Based on your creditworthiness, the annual percentage rate (APR) for purchases and transfers is reg_apr,reg_apr_type. This APR will vary with the market based on the Prime Rate.
- APR for cash advances is cash_advance_apr. This APR will vary with the market based on the Prime Rate.
- Your due date is at least 25 days after the close of each billing cycle. You will not be charged interest on new purchases, provided you have paid your previous balance in full by the due date each month.
- Interest is charged for cash advances and transfers on the transaction date.
Compare the rates, fees, and rewards of top credit cards for military servicemembers and veterans, including cards with waived annual fees under the SCRA.
Capital One Annual Fee Waiver for Military
Capital One waives annual fees on credit cards under the Servicemembers Civil Relief Act (SCRA) only, not under the Military Lending Act (MLA). Specifically:
- Capital One waives annual fees for credit cards acquired prior to active duty service for eligible military members under the SCRA.
- Capital One does not waive annual fees for credit cards opened during active duty service under MLA.
- The annual fee waiver applies during active duty service and for up to 1 year after leaving active duty.
- To qualify for SCRA benefits, servicemembers must apply for a credit card before entering active duty and request the benefits waiver during their service.
- Capital One caps interest rates at 4% for eligible accounts under SCRA, which is lower than the 6% cap required by law.
It’s important to note that this policy differs from some other credit card issuers, such as American Express and Chase, which waive annual fees on personal cards for active duty military under both the SCRA and MLA.
How Military Members Can Benefit From Using the Capital One Venture Rewards Credit Card
All service members will enjoy travel benefits and other perks associated with the card_name. However, those who travel the most will reap the biggest benefits.
One of the most important of these is that new cardholders can bonus_miles_full, equaling $750 in travel. You can also receive up to a $120 credit for Global Entry or TSA PreCheck®.
Cardholders can all take advantage of two complimentary visits per year to Capital One Lounges or 100+ Plaza Premium partners.
Miles won’t expire for the life of the account, and there’s no limit to how many you can earn, which also includes unlimited 2 miles per dollar on all purchases with your card.
Another big perk for active duty military members on the go is earning 5 miles per dollar on hotels, vacation rentals, and rental cars booked through Capital One Travel. Plus, you can use your miles to get reimbursed for all travel purchases or redeem them by booking a trip through Capital One Travel.
However, if you want to use your miles for cash back or a statement credit for non-travel purchases, your miles are worth only half as much as if you redeem them for travel.
Under the Servicemembers Civil Relief Act (SCRA), service members receive waived annual and other fees (except late fees and insufficient fund fees).
While it’s not an issue for this card, in all cases, the Military Annual Percentage Rate (MAPR) must not exceed 36%, and any introductory promotional interest rates must be honored.
Capital One Venture Rewards Credit Card Credit Limit
Capital One does not reveal minimum or maximum limits for the Venture Rewards card. The limit service members receive upon approval will vary based on several factors, such as your credit score, credit history, income, etc.
You can quickly increase your limit through responsible usage if approved for a low initial amount.
Earning Rewards with the Capital One Venture Rewards Credit Card
Service members can earn rewards in several ways.
A generous sign-up bonus for new cardholders lets you bonus_miles_full. That equals a $750 travel credit you can use for any future Capital One travel purchases.
After you qualify for this bonus, Capital One will apply it to your rewards balance within two billing cycles. Existing or previous accountholders may not be eligible for this one-time bonus.
Cardholders also get 2 miles per dollar spent on purchases and 5 miles per dollar on hotels and car rentals booked through Capital One Travel. Purchases made outside Capital One Travel, such as hotel incidentals, upgrades, or other expenses, will not earn 5 miles per dollar but will receive the standard 2 miles per dollar earn rate.
There is no cap on the rewards you can earn on purchases. However, cash advances, balance transfers, and checks used to access your account are not considered purchases and will not earn rewards.
Redeeming Rewards with the Capital One Venture Rewards Credit Card
Service members can redeem rewards for travel and travel-related purchases to give you maximum reward value. When you book through Capital One Travel, you can pay upfront with your miles.
You also have the option of redeeming rewards as a statement credit. That allows you to book travel however you want, then redeem miles for a statement credit for some or all of the cost.
When redeemed, miles are worth 1 cent apiece, and there’s no minimum redemption amount.
Any expense that Capital One considers “travel” is eligible for redemption. That includes flights, hotel stays, rail lines, car rental agencies, limousine services, bus lines, cruise lines, taxi cabs, travel agents, and timeshares.
Capital One lets you transfer miles to the loyalty programs of several airline and hotel partners, including:
| Airline | Rewards Redemption Ratio |
|---|---|
| Aeromexico | 1:1 |
| Air Canada | 1:1 |
| Air France-KLM | 1:1 |
| Avianca | 1:1 |
| British Airways | 1:1 |
| Cathay Pacific | 1:1 |
| Emirates | 1:1 |
| Etihad | 1:1 |
| EVA | 2:1.5 |
| Finnair | 1:1 |
| Qantas | 1:1 |
| Singapore Airlines | 1:1 |
| TAP Air Portugal | 1:1 |
| Turkish Airlines | 1:1 |
| Hotel | Rewards Redemption Ratio |
|---|---|
| Wyndham Rewards | 1:1 |
| Choice Privileges Hotels | 1:1 |
| ALL Accor Live Limitless | 2:1 |
You can redeem your miles for cash through a check or account credit, gift cards, and more. Rates for these other redemption options vary and are subject to change without notice.
Active duty personnel may be eligible to transfer rewards between certain Capital One rewards accounts and to specific select external Travel Loyalty Programs. Not all reward products are eligible for transfer.
Applying for the Capital One Venture Rewards Credit Card
The card_name generally requires a minimum credit score of 690 for approval. Getting approved may be more challenging if you’re just trying to establish a good credit history or have some marks against you.
However, sometimes you may be approved with a slightly lower score based on other variables.
Capital One will examine your income, debts, number of open accounts, employment status, housing status, payment history, and other factors as part of an overall approval process.
Is the Capital One Venture Rewards Credit Card Worth It?
A big sign-up bonus, high rewards, and flexible redemption processes make this card worth the annual fee and high APR for active duty service members.
Pros
- Outstanding new cardmember offer of 75,000 miles
- High rewards rate for travel and regular purchases
- No cap on rewards you can earn
- Flexible rewards redemption
- No foreign transaction fee
Cons
- $95 annual fee
- Requires good/excellent credit
- Potentially high APR with lower credit score
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