Review of the Capitol One Venture Cards

Review of the Capitol One Venture Cards

CAPITOL ONE VENTURE April 2018

TOTAL RATING: 6

            BONUS: 6

            SPEND: 8

            BENEFITS: 5

 

DISCUSSION

Capitol One has formed a partnership with Hotels.com that makes the Capital One® VentureOne® Rewards Credit Card a good card to hold in your wallet as long as the hotels.com offer is in effect.

Capitol one offers two rewards cards, the Venture and the Venture One cards. Both cards require “excellent” credit in order to expect being accepted.

The reason I would put the Capital One® VentureOne® Rewards Credit Card card in my wallet is the 10X points bonus available to persons using Hotel.com to book their hotels. That’s a 10% return since the Capital One points are worth 1 Cent per point.

The Venture card offers a 50,000 point bonus after $3000 dollars worth of spend and 2X points on every dollar of spend. The Venture card offers the 10X bonus on the purchases but there is a $95 annual fee after the first year.

The Venture One card offers a 20,000 point bonus after $1000 dollars worth of spend and 1.25X points on every dollar of spend. The Venture card offers the 10X bonus on the purchases but there is no annual fee.

Our strategy with this card is based on the contract that exists between Hotel.com and Capitol One. At this point the primary reason to have either of these cards in your wallet is the 10X points on Hotels.com. A careful reading of the Capital One 10x Miles Venture Promotion Terms & Conditions, identifies some problems that will have an impact on your strategy if you choose to put this card in your wallet.

The first problem is the 10X deal with hotels.com expires on January 31, 2020. That means the only valid reason to have this card in your wallet will be gone in around 22 months. The second problem is that you can only get the 10X advantage if you go thru the actual  hotels.com/venture web site and use your Capitol One card. If you book on the regular hotels.com website you don’t get the 10x points. All other bookings — including bookings made by phone or the Hotels.com mobile app, bookings made through a third-party site or service, including those that use a third-party extension to modify the URL of the Website (e.g. Ebates.com and similar websites), bookings for groups, bookings that include flights, and bookings where payment is made at a hotel — are not eligible. So in order to get the 10X points or 10 cents on each dollar of spend you have to jump thru some hoops.

The only intelligent way to use your Capitol One points is thru their “statement credit” program. If you use the statement credit program you will get your hotel on hotels.com and get your 10X points and later in the month when hotels.com bills your Capitol One card you will use your accumulated points to pay that cost at the rate of 1 cent per point.

All that being said here is the strategy that we think works for this card. First, we would cancel the card on January 31, 2020 because the hotel.com, 10X bonus is up in smoke and the card without the 10X bonus sucks. Second, we would only use the card to buy hotel.com purchases and to qualify for the bonus. The 2% return for the Venture card and 1.25% return for the Venture One card on all other purchases does not compete with a lot of travel cards in the market like the AmEx Every Day Preferred card.

As far as actual card benefits the Venture cards don’t have any thing special to offer.

 

The choice between the Venture and the Venture One is kind of a toss up. If you do cancel the Venture card on 1/31/2020 you will only have one $95 annual fee to deal with and the additional 30,000 point bonus (50,000 Venture bonus vs the 20,000 Venture One bonus)  given to the Venture card holders will more then compensate for that one annual fee. The Venture One card with no annual fee will be the better deal if the contract between Capitol One and hotels.com is extended or Capitol One comes up with another huge bonus like their hotels.com 10X bonus.

We lean toward the Venture, 50,000 bonus point deal because the 30,000 extra bonus points is a sweet $300 more in travel assets then what the Venture One offers.

 

 

 

 

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