Capital One is one of the largest banks in the United States and provides a selection of credit cards for users of all needs and credit levels. For cardholders with excellent credit rating, there are two Capital One Venture Rewards cards available, which provide a competitive number of airline miles for each dollar spent on qualifying transactions.
In addition to the Capital One Venture Rewards cards, there are many other options provided for personal or business use to accommodate spending habits, lifestyle needs or credit ratings. The Venture Rewards cards appeal especially to those looking to save on travel accommodations and flights. Though the cards don’t offer the most rewards in terms of miles for purchases, Capital One has a reputation of being easy to manage and as a Visa card, is accepted virtually everywhere.
Types of Capital One Venture Rewards Cards
While there are a handful of Capital One credit cards, there are currently only two Capital One Venture Rewards Cards available. They are:
• Capital One Venture Rewards Capital One Venture Rewards
• Capital One VentureOne Rewards
Currently, the two Capital One Venture Rewards Cards are available to those with excellent credit. In addition to a credit report, there are a few guidelines the bank uses to issue the Rewards Cards, such as not defaulting on a loan, declaring bankruptcy or being more than 60 days late on any bill within a year. Another question that is used as a guideline is whether the cardholder has had a credit card with a limit of more than $5,000 for more than three years. While these aren’t the only factors in approving a Rewards Card, they are taken into consideration along with the credit report.
Benefits of Capital One Venture Rewards Cards
Each of the cards offer miles for each dollar spent on a purchase. The Venture Rewards card offers two miles for every dollar, while the VentureOne Rewards provides 1.25 miles for each dollar. An additional 20,000 miles is given if $2,000 is spent within the first three months after sign-up.
Cardholders can enjoy a range of benefits including savings on travel accommodations, upgrades on seating or hotel accommodations, concierge service 24/7, discounts on shopping with select retail or online merchants, special access to sporting events, concerts or golf outings, car rental insurance, roadside assistance and travel assistance.
Annual Percentage Rates and Fees
When it comes to the Capital One Venture Rewards Cards, the type of card chosen impacts the potential APR. For example, the Venture Rewards card features an APR of 13.9 to 20.9% depending on credit worthiness, while the VentureOne Rewards offers a 0% introductory rate until March 2015, after which is becomes 11.9 to 19.9%. Balance transfer rates and similar, while the cash advance rate on both cards is 24.9%
Annual fees for the Capital One Venture Rewards Cards also vary. For the first year of holding the Venture Rewards card, the annual fee is $0, but increases to $59 in the following year. The VentureOne card is $0 each year.