Why Capital One’s Newest Feature Isn’t A Reason to Get the Venture Card

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Capital One’s Newest Feature for the Venture Card

News came out a few days ago about Capital One adding a new feature for the Venture card.  The blogs went crazy and were in a uproar, shouting the news with glee!  Me, I was like, meh.  The new feature wouldn’t even be in the top 5 of why I would get the card.

The Capital One Venture card is a solid product and it has been a mythical beast for me and my wife.  But, I don’t think adding a TSA Precheck or Global Entry credit moves the needle much.

Having said that for anyone who already has the card this is good news.  Anytime features are added to a card you already have it is a good thing.  But, you shouldn’t apply for the Venture card because of this newest feature but there are a lot of reasons why you should consider the card.

Why A Venture Card is Worth Considering

I reviewed the Capital One Venture card in detail a few months ago but it is worth reviewing.  There are lots of reasons to consider the Venture card I just don’t think TSA Precheck or Global Entry is one of them. Mainly because a mountain of cards offer this perk.  Some of the reasons to get the Venture card are:

  • Fantastic sign up bonus worth $500
  • Great earning structure netting you 2% back on every purchase
  • Current promo where you get 20% back on Hotels.com stays
  • Easy rewards program
  • No foreign transaction fees
  • Reasonable redemption minimums (not $100 like the Arrival premium cards)
  • It is a Visa card (more on this later)

I have been trying to get the card because I don’t have a good everyday Visa card which is killing me when Costco has their in store gift card deals.  This won’t be as important for most of you and it is why I put it at the bottom of the list.


Click Here to compare this card and other travel rewards credit cards


Who Should Get the Venture Card?

The Capital One Venture card is a hugely popular card among greater America.  There are a few reasons for that but most of it is because the program is very straightforward.  You earn 2% back that you can redeem towards gift cards or travel costs. That along with some genius marketing.

You may say, but you can get that for free every year with the Citi Doublecash.  That is correct you can get 2% cash back cards that work the same way and have no annual fee. Most of these cards come with foreign transaction fees, many are not Visa cards (which is the most widely accepted card), and they do not come with compelling welcome bonuses.

The annual fee is waived the first year on the Capital One Venture card and you get a $500 bonus.  That means you could have the card for up to 6 years before you would break even with a traditional cash back card…that is a long time!

The Venture card is best suited for people who:

  • Want an easy rewards program but also want a compelling welcome offer
  • People who use Hotels.com frequently (20% back plus Hotels.com rewards)
  • People who only fly domestically since prices are so cheap these days miles are not as valueable
  • If you stay in non chain hotels or frequent more off the beaten path places. Since you can still use points to “erase” these charges.
  • If you need a Visa card for certain stores.

If you pay cash for rooms and don’t have status with any hotel chain or you are not brand loyal then you should get this card without a doubt! Double dipping the 20% back on Hotels.com plus the 10th night free with their rewards program is about as good as it gets for cash stays.


Click Here to compare this card and other travel rewards credit cards


View from the Tawas Bay Beach Resort, a non chain hotel in northern Michigan

Negative Aspects of the Capital One Venture Card

There are a few negative aspects that come with dealing with Capital One and applying for the Venture card.  First is that Capital One is not known as a super customer friendly bank.  I have never had issues with them but they don’t give you the warm and fuzzies.

Capital One also pulls all three bureaus when you apply.  Most banks only pull one or sometimes two (Chase pulls 2 for me).  This turns some people away.  It isn’t as big of a deal to me since it only counts as one towards Chase’s 5/24 rule and one of my bureaus never gets pulled anyways.

Lastly, Capital One is very inquiry sensitive which is why I have not been unable to get the card a second time the last few years.

Conclusion

While adding a Global Entry or TSA Precheck credit is great for current Capital One Venture card holders it isn’t a reason to sign up for the card in my opinion.  There are plenty of better reasons to do that, and a few reasons why you may not want to as well.

The Capital One Venture card is one of the most popular cards on the market because it appeals to the masses.  There is still a lot of value to be had for us as well.  I think it is a card everyone should get at one point or another but TSA Precheck or Global Entry isn’t one of the reasons I would say that.


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2 COMMENTS

    • In the past people who haven’t had the card within the last 6 months and were approved ended up getting the bonus. YMMV but people have churned it in the past.

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