Transferable points and miles are among the most valuable currencies for travel rewards due to their versatility and resistance to devaluation. The ability to transfer rewards to multiple loyalty program partners reduces the impact of any one program’s devaluation.
Some popular transferable currencies include American Express Membership Rewards and Chase Ultimate Rewards points. The issue for some is that obtaining and using these rewards requires holding a card with an annual fee, such as The Platinum® Card from American Express (see rates and fees) or Chase Sapphire Reserve®, respectively (keep in mind, though, that not all annual fees are bad).
In Capital One’s portfolio of cards, there is an often overlooked card with no annual fee that still has transferable rewards: the Capital One VentureOne Rewards Credit Card (see rates and fees).
The no-annual-fee Capital One SavorOne Cash Rewards Credit Card is an ideal complement to the VentureOne because when you have both travel rewards and cash-back cards from Capital One, you can move rewards between the cards at a ratio of 1 cent to 1 mile. This means that you can benefit from excellent cash-back earning potential while still being able to transfer to partners.
Here’s why the Capital One VentureOne and SavorOne cards are one of the best no-annual-fee duos for travel rewards (see rates and fees for VentureOne; See rates and fees for SavorOne)
Earning miles
The VentureOne card’s earnings are simple. It earns an unlimited 1.25 miles per dollar on every purchase and an increased 5 miles per dollar on hotels and rental cars booked through Capital One Travel.
Spending on dining, grocery stores (excluding superstores like Walmart® and Target®), entertainment and popular streaming services, which earn 3% cash back with the SavorOne card, is where this duo really begins to shine. This equates to 3 miles per dollar when the rewards are transferred to the VentureOne.
Additionally, through Nov. 14, 2024, cardholders earn 10% cash back (10 miles per dollar) on Uber or Uber Eats purchases.
Related: The best credit cards for dining
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Redeeming miles
One of the biggest perks of the VentureOne is the ability to transfer to partners as an alternative to cashing out via check or statement credits with the SavorOne. This allows you to either transfer miles or earn cash back when one presents a better value than the other.
TPG values Capital One miles at 1.85 cents each thanks to its valuable transfer partners, including Singapore Airlines KrisFlyer and British Airways Executive Club. The latter can be used to fly to and from London in style or for American Airlines domestic flights.
Additionally, you can transfer miles to its hotel partners, including Accor Live Limitless and Wyndham Rewards. Overall, this means you can use your rewards from these two cards to redeem for flights and hotel stays and then cover any remaining taxes or fees with the cash back.
Related: Why Wyndham is now my new favorite Capital One transfer partner
Welcome bonuses without the fees
The VentureOne card’s sign-up bonus is 20,000 bonus miles once you spend $500 within the first three months from account opening, worth $370 by TPG’s valuations.
The sign-up bonus for the SavorOne card is $200 cash back after you spend $500 in the first three months from account opening. When transferring the cash back to VentureOne miles, you earn the same 20,000 miles on both cards.
In addition to the welcome bonus, the VentureOne and SavorOne have no annual fees. Furthermore, neither card has foreign transaction fees (see rates and fees for VentureOne; see rates and fees for SavorOne).
Additionally, to help earn more rewards, there is no fee to add authorized users to the account (see rates and fees for VentureOne; see rates and fees for SavorOne).
Related: The best no-annual-fee credit cards
Alternative options
Capital One does offer a similar card duo with two of its more premium cards: the Capital One Venture X Rewards Credit Card and the Capital One Savor Cash Rewards Credit Card. And while these two cards both have annual fees, it can easily make sense to pay those fees in exchange for the additional perks compared to the no-annual-fee options (see rates and fees for VentureOne; see rates and fees for SavorOne).
The information for the Capital One Savor Cash Rewards Credit Card has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.
While the VentureOne comes with a welcome offer of 20,000 bonus miles once you spend $500 within the first three months from account opening, the Venture X offers 75,000 miles after spending $4,000 within the first three months from account opening. This is almost four times as many miles from the welcome offer alone and can easily help to fly a family rather than an individual, or it can enable you to fly in business class rather than economy.
The same is true for the SavorOne versus the Savor, the latter earning a $300 welcome bonus after spending $3,000 within the first three months rather than a $200 bonus for spending $500 in the same time frame. Although both the Venture X and Savor cards have significantly higher minimum spending requirements than their counterparts, the increase can be worthwhile if you can complete it.
The Venture X has an annual fee of $395 (see rates and fees), while the Savor’s annual fee is $95. But, by not paying for the annual fees, you are missing out on some perks with only the VentureOne and SavorOne cards.
For example, the Venture X has a $300 annual credit and a 10,000-mile yearly anniversary bonus, which alone make up for the annual fee. Alternatively, the increased spending multiplier of 2 miles on every purchase instead of 1.25 miles on the VentureOne will help accrue many more miles.
This is in addition to the more luxurious perks of the Venture X, such as lounge access worldwide and up to $100 in statement credits for TSA PreCheck or Global Entry.
The Savor operates similarly, offering 4% cash back (effectively 4 miles) for every dollar spent at restaurants and on entertainment, compared to the 3% cash back (or 3 miles per dollar) with the SavorOne.
Related: 12 ways to meet the spending requirements and earn the bonus on a new card
Bottom line
Though the sign-up bonuses and overall earnings on purchases are less than their premium counterparts, the Capital One VentureOne and SavorOne Rewards cards still offer no foreign transaction fees and the ability to combine and transfer miles to the same amazing partners (see rates and fees for VentureOne; see rates and fees for SavorOne).
For those looking for no-frills cards that will allow them to travel inexpensively, the VentureOne and SavorOne duo is a great option to access transferable rewards.
To learn more, read our full reviews of the VentureOne and SavorOne.
Apply here: Capital One VentureOne and Capital One SavorOne
