Contemporary society has seen a flood of travel rewards credit cards, but the Capital One Venture Rewards credit card is one of the best in the market. This card perhaps is most widely acclaimed for its rich rewards program and numerous redemption styles thus suitable for the spenders. If you are decided on the Venture card, there is a new cardmember offer along with the list of perks that will enhance your travel and make your life easier.
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There is bonus of 75,000 bonus miles for new cardmembers where one can get to earn them after charging 4000 within the first three months on the Capital One Venture Rewards credit card. This bonus is equal to $ 1 000 for travelling, which can be regarded as rather substantial for individuals planning major expenditures.
Key information about the Capital One Venture Rewards credit card
Capital One Venture Rewards credit card is for those with excellent credit scores, and the perks of this card work to make traveling better. It has an annual fee, the APR for purchases in particular and many benefits for the cardholder, intended for people who travel often.
How does the annual fee work?
The Venture card has separate annual fees of $95. Although, this fee is assessed throughout the membership period but it can be canceled in the first year only, the amount of service points, fuel discounts, and other incentives compensate for the fee in the longer run especially if the client uses the services frequently. Since it is based each year, the fee is not divided into equal monthly payments, so users of the card should expect the fee each year.
How is the credit limit determined?
The credit limit for Venture Rewards card is arrived at with the help of credit score, income and other financials of the applicant as evaluated by Capital One. For the normal and joint credit cards, the credit limit reflected is evaluated from the credit score of the creditworthy party. Prepaid cards’ usage is predetermined by the sum deposited by a cardholder while the Venture card limit can be adjusted solely at Capital One to ensure that the user is capable to repay it.
Credit card benefits
- Unlimited 2X miles on every purchase: Earn double miles on every dollar spent, making it easy to accumulate rewards quickly.
- 5X miles on hotels and rental cars: Enjoy five times the miles when booking hotels and rental cars through Capital One Travel.
- 75,000 bonus miles: Receive a substantial welcome bonus equivalent to $1,000 in travel after meeting the spending requirement.
- Flexible redemption options: Redeem miles for travel, gift cards, and more, with no blackout dates.
- Global entry or TSA precheck credit: Get up to a $100 credit for Global Entry or TSA PreCheck application fees, helping you skip long security lines.
- Hertz five star status: Benefit from an enhanced car rental experience with Hertz.
Flexible redemption options
Another great advantage of using the Venture card is the flexibility in which you can redeem the points. While many of the travel related rewards cards limit how and where you can spend your points, with the Venture card you can spending your miles in multiple ways.
So, whether you are using the miles for flights, for accommodations or for car rentals you can decide. Also, the miles do not expire as long as the account is active; hence offering customers long term benefits.
Disadvantages
- Annual fee: The $95 annual fee is not waived for the first year, which might be a deterrent for some users.
- High variable APR: The APR ranges from 19.99% to 29.99%, which can be high for cardholders who carry a balance.
- No introductory APR offer: Unlike some other cards, the Venture card does not offer an introductory APR period for purchases or balance transfers.
High variable APR
The cdr is relatively high especially on credit cards with the variable APR pegged from 19. 99% to 29. It states that, while the rewards of 1% cash back on all purchases, up to $600, or earning 0.5% on every dollar spent, minus an annual $75 fee, can amount to $990 a year, failure to clear the balance in full each month, as charged by 24/7, can be costly for 99% of the people. This interest rate can turn a healthy balance into a LOSS within a short period of time and wipe up all the miles earned.
Who can apply for this card?
Venture Rewards credit card is issued to those with excellent credit rating characteristic of Capital one. The applicant should be 18 years old and above because this is the legal age for a person to be allowed to enter any credit agreement in the United States. Tap outlet website that an ideal credit score must be up to 750 FICO so that the applicant could prove his/her solvency and present a good credit history without recent delays.
How to apply for the Capital One Venture Rewards credit card
By visiting the Website
Applying for the Capital One Venture Rewards credit card is convenient since the founding can be done online and only requires a visit to the official website of Capital One. From the home page, go to ‘credit cards’ found in the top navigation menu and then look at the list of travel reward cards, among which there is the mentioned Venture Rewards.
For the specific card, you will find an ‘Apply Now’ button nearby the description of the card; clicking on the button will lead you to the application form. The first part should be filled in with candidate’s identification details: full name, date of birth, social security number, phone number, and address.
It is pertinent to maintain the absolute accuracy of details in regards to preventing the likelihood of a delay. The next part of the application includes your financial data, including your employment, yearly income, and monthly rent.
This information enables the credit card company, in this case, Capital One to check your suitability and set your credit limit if you are being approved. You may also be requested more questions on other sources of income or other members of the household.
Once you are done with filling out all the mandatory fields, go through all the general requirements and policies such as interest rates and fees of the given credit card. After you are satisfied with the contents of the application, ensure all information is correct, then submit application.
You will be redirected to another website.
