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There’s never been a better time to be in the market for a travel rewards card. Issuers seem to introduce a new credit card every few weeks or upgrade an existing one. 

This time around, it’s Capital One’s turn. The issuer just made its flagship mid-tier travel rewards card much better by adding a one-time $250 Capital One Travel credit in your first year to its already great welcome offer. (You earn 75,000 miles once you spend $4,000 on purchases within the first three months of opening an account.)

We’ve said the Chase Sapphire Preferred® Card takes the crown as the best travel credit card. But between new additions from both Wells Fargo and Citi -- and now Capital One -- the waters are muddied. Among the midtier travel credit cards, which is the best to choose?

What’s new with the Capital One Venture Rewards card?

Two things are changing with the Capital One Venture Rewards Credit Card* -- one good, one bad. 

First the good news: The card got a new welcome bonus -- an update that puts it among some of the best on the market. 

New cardholders will receive a one-time $250 Capital One Travel credit in the first year upon approval, plus can earn 75,000 miles after spending $4,000 within three months of account opening. 

There are only a handful of other credit cards that come to mind that have a welcome bonus without a spending threshold -- any Discover credit card and the Prime Visa -- so it’s an attractive offer.

Now for the bad. The Venture Rewards card previously included two free Capital One airport lounge passes per year, but the perk ends after Dec. 31, 2024. 

However, this might not be a deal breaker for you. There are currently only three Capital One lounges in the country -- Denver International Airport, Dallas Fort Worth and Washington Dulles.

Capital One could be offering the $250 credit to assuage disgruntled travelers over losing their annual airport lounge access, but we can’t say for sure. 

Either way, the new travel credit could help shave off some of your travel costs. And if you won’t use the Capital One airport lounge access, the advantage of the new welcome bonus outweighs the downside of losing the airport lounge certificates.

How the Capital One Venture stacks up against its competition

With its $95 annual fee, the Capital One Venture Card sits in the crowded middle tier of travel cards. Its top competitors include the Chase Sapphire Preferred, Wells Fargo Autograph Journey℠ Card and Citi Strata Premier℠ Card.

Their welcome bonuses are:

Chase Sapphire Preferred: 60,000 bonus points after you spend $4,000 on purchases in the first three months from account opening. That’s $750 when you redeem through Chase Travel℠.
Wells Fargo Autograph Journey: 60,000 bonus points when you spend $4,000 in purchases in the first three months. That’s $600 toward your next trip.
Citi Strata Premier: 70,000 bonus ThankYou® Points after spending $4,000 in the first three months of account opening. It’s redeemable for $700 in gift cards or travel rewards at thankyou.com.

With the addition of a $250 Capital One Travel credit, the Venture’s welcome bonus is worth $1,000 so long as you redeem it for travel through Capital One Travel. Which, initially, makes it the most valuable of all the cards listed above. However, there are a number of other factors you should consider before choosing which card to apply for.

Comparing rewards programs









CNET’S PICK










Intro Offer



Earn 75,000 miles







Earn 75,000 miles once you spend $4,000 on purchases within the first 3 months of account opening, plus receive a one-time $250 Capital One Travel credit in your first cardholder year – that’s equal to $1,000 in travel






Annual fee
$95


APR

19.99% – 29.99% (Variable)



Intro Purchase APR
N/A


Recommended Credit







A credit score is used to indicate an applicant’s credit worthiness and may provide guidance about account eligibility. It does not necessarily guarantee approval for any financial product.




Good – Excellent



Rewards rate


2x
– 5x








Earn 5X miles on hotels and rental cars booked through Capital One Travel, where you’ll get Capital One’s best prices on thousands of trip options; Earn unlimited 2X miles on every purchase, every day.





















Intro Offer



60,000 bonus points







Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That’s $750 when you redeem through Chase Travel℠.






Annual fee
$95


APR

21.49% – 28.49% Variable



Intro Purchase APR
N/A


Recommended Credit







A credit score is used to indicate an applicant’s credit worthiness and may provide guidance about account eligibility. It does not necessarily guarantee approval for any financial product.




Good – Excellent



Rewards rate


1x
– 5x








5x on travel purchased through Chase Travel℠.; 3x on dining, select streaming services and online groceries.; 2x on all other travel purchases.; 1x on all other purchases.






















Intro Offer



60,000 bonus points







Earn 60,000 bonus points when you spend $4,000 in purchases in the first 3 months – that’s $600 toward your next trip. Select “Apply Now” to take advantage of this specific offer and learn more about product features, terms and conditions.






Annual fee
$95


APR

21.24%, 26.24%, or 29.99% Variable APR



Intro Purchase APR
N/A


Recommended Credit







A credit score is used to indicate an applicant’s credit worthiness and may provide guidance about account eligibility. It does not necessarily guarantee approval for any financial product.




Good – Excellent



Rewards rate


1x
– 5x








Earn unlimited 5X points on hotels; Earn unlimited 4X points on airlines; Earn unlimited 3X points on other travel and restaurants; Earn 1X points on other purchases












Apply Now


On Wells Fargo’s secure website






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The Chase Sapphire Preferred arguably has the best rewards program of the four cards. Mainly due to its 25% redemption bonus for redeeming rewards for travel through Chase Travel℠. 

That means its 60,000 bonus points, when redeemed for travel, are actually worth $750 (60,000 x 1.25), making it the second-highest payout. 

But what really sets the Sapphire Preferred apart from the rest is its 1:1 point-transfer rate to Chase’s travel partners, which include JetBlue, United, Southwest and Marriott Bonvoy.

The Wells Fargo Autograph Journey has the second-best rewards program because it earns 5x points on hotels and 4x points on airlines, regardless of which airline or hotel you’re booking with. Most other cards -- including the Venture Rewards, Citi Strata Premier and Sapphire Preferred -- require you to book travel through their issuer travel portals to get that kind of rate. 

However, Wells Fargo lacks transfer partners for domestic air travel (it does offer a 1:2 transfer ratio with Choice Privileges).

The Citi Strata Premier Card is third in line, thanks to its rewards rate and a few high transfer rates to some of Citi’s transfer partners, including a 1:2 ratio to Choice hotels. However, it doesn’t offer many attractive partners for domestic travel outside of JetBlue, Wyndham and Choice Privileges.

That means the Capital One Venture Rewards Card comes in last. It has the lowest rewards rate and no domestic airline partners to take advantage of.

*All information about the Capital One Venture Rewards Credit Card has been collected independently by CNET and has not been reviewed by the issuer.