Is Capital One Venture worth its $95 Fee
Table of Contents
Introduction
Capital One has a choice of credit cards for many categories. Capital One Venture Card is a travel card which mostly offers rewards tied to travel and travel related categories. You can compare this against the Chase Sapphire Preferred card which is in the similar category. Let’s discuss if this card is worth its $95 Annual Fee.
Introduction on Capital One Venture Card
This is one of the popular travel card in the market as it earns 2X miles for every $1 spend on all purchases and can be redeemed for travel. If you redeem for travel related purchases your points are worth more. Also it doesn’t have any restriction or black out dates to book your travel like on airlines or hotels. Let’s see what’s are the benefits and disadvantages of this credit card.
Benefits of Capital One Venture
Below are the various benefits you can get using this card.
- Intro bonus of 60000 miles after you spend $3000 in 6 months after opening the card. This is approximately $600 in value towards travel redemption.
- Earn 5X miles on rental cars and hotels booking through capital one travel and 2X miles for every $1 on all purchases.
- Transfer miles to 15 top airline and hotel partners.
- Credit up to $100 for application fee towards TSA Pre check or Global Entry
- Travel accident insurance and Rental Car Coverage
- Extended Warranty on Eligible items
- Lounge Access Benefits on Capital One Lounges for 2 times per year and then a special fee $45 fee for each visit.
- No foreign transaction fee like most travel cards.
These are some excellent benefits on a travel card. However we can find some disadvantages in certain areas. Let’s see where the card benefits lags.
Disadvantages of Capital One Venture
- Annual Fee of $95 as there are some travel cards from Discover and Bank of America without any annual fee. Even Chase Sapphire Preferred waives the annual fee for first year.
- Reward Miles are less in value when you redeem for cash back(almost in half), statement credit or shop with amazon.
- There is currently one Lounge in Dallas-Fort Worth airport and some are in plan for 2022.
- No much options for transferring miles to domestic partners.
- No 0% Intro APR offer is present on this card.
Final Thoughts
Despite of $95 Annual Fee, it has very attractive rewards and usually offer higher credit limits. If you have a credit score of 690 and above, you got good chances of approval for this card. So, overall combining its rewards, airline partner miles transfer options and the 60000 bonus miles for first makes it a good choice of travel card. Let me know your thoughts and comments.
