Capital One Financial Corp. on March 15 introduced a travel card is says offers its richest and most flexible rewards yet, although customers must pay an annual fee to earn maximum rewards.
The Capital One Venture travel rewards Visa card enables cardholders to earn two miles per dollar spent. Venture customers must pay a $59 annual fee to earn double miles. A no-annual-fee version of the card, the VentureOne, also is available that enables cardholders to earn 1.25 miles per dollar spent.
To calculate earned rewards, Venture cardholders subtract two zeroes from their total miles earned. For instance, 35,000 miles earned equals a $350 benefit cardholders may redeem for any type of travel, including airfares, cruise tickets, hotel stays or rental cars, from any carrier and through any travel agency, with no blackout dates.
The simplified redemption process offers a better earnings rate than does Cap One’s No Hassle Miles Rewards card, which offers rewards within a dollar-value range instead of the straight dollar value, a Cap One spokesperson says, For instance, 15,000 miles earned with the No Hassle Miles Rewards card is good for an airline ticket of “up to $150.”
The No Hassle Miles card, which carries no annual fee, enables cardholders to earn 1.25 miles per dollar on every purchase.
