The Capital One Venture Rewards Credit Card has recently gone from a middle-of-the-road rewards card to a top-tier option for earning miles for travel.Benefits like up to a $100 Global Entry or TSA PreCheck credit help offset the $95 annual fee, which is waived the first year.The card offers 2 miles per dollar, and makes it really easy to redeem miles for a statement credit for any travel purchase.You can also transfer miles to partner airline and hotel rewards programs, including JetBlue, Wyndham, and more than a dozen others.See Business Insider's list of the best rewards credit cards you can get When I think of the Venture card from Capital One, I think of a lot more than the clever commercials with Alec Baldwin and Jennifer Garner. Over time, this card has gone from middle-of-the-road to a top-tier option for earning travel rewards.After adding new benefits and features over the last few years, the Venture card certainly ranks among my top five general travel rewards cards and is a perfect starting point for someone looking to earn and redeem flexible rewards, with some good benefits to boot. Here's a deeper look at what the Venture offers and why it's worth a fresh look, even if you didn't think it was the right fit in the past.Keep in mind that we're focusing on the rewards and perks that make these credit cards great options, not things like interest rates and late fees, which will far outweigh the value of any points or miles. It's important to practice financial discipline when using credit cards by paying your balances in full each month, making payments on time, and only spending what you can afford to pay back.Improved rewards earning (and burning)This card starts you out with a 50,000-mile bonus after you spend $3,000 in the first three months. You'll earn a flat 2 miles per dollar on every purchase, which makes it easy to earn miles quickly without worrying about which card to use where.Read more: The best credit card sign-up bonuses available nowThe easiest way to redeem, and a perfect starting place for people new to travel miles and points rewards, is the Capital One Purchase Eraser feature. This gives you 1 cent per mile to erase any past travel purchase. You can also book travel through the Venture portal to get the same value when booking new travel.Capital One also offers the ability to transfer miles to partner airlines. There is a list of 15 airline partners. While JetBlue is the closest option to a major US carrier, some are partners with big US airlines and allow you to book partner awards in the US. Of course, they are also great for flying to their home countries and regions in many cases. Capital One recently added two hotel partners as well: Accor and Wyndham.It's trickier to know exactly how much value you'll get when transferring unless you do the math on each award redemption as you go. Venture miles transfer at a 2:1.5 ratio or 2:1 ratio depending on which partner you choose.If you redeem for premium business or first-class bookings, you'll probably get a whole lot more in value than the 1 cent per mile offered by the Purchase Eraser. But in some cases, you could end up with less than 1 cent per Venture mile, so you should always compare and run the numbers to make sure you get at least 1 cent.Read more: Chase Sapphire Preferred vs. Capital One Venturecredit card comparisonImproved Venture card benefitsThe card has all the benefits you'd expect in exchange for a $95 annual fee. These include no foreign transaction fees, travel accident insurance, and rental car collision damage coverage.For purchases, new cardholders get purchase protection and an automatic extended warranty through their Visa Signature benefits. I'm going through the process of an extended warranty claim right now, and I'm so glad I have this benefit.And don't forget about that TSA PreCheck or Global Entry credit of up to $100. Global Entry is definitely the best option if you have this credit. If that's the route you go, it's worth $20 per year. Don't leave that offer on the table.Read more: Capital One Venture card reviewMy verdictThanks to the benefits Capital One's added over the last year, the Venture card has risen into my top-five list for the best travel rewards credit cards. For a card with an annual fee of just $95 (waived the first year), it's excellent for its 2x earning rate and easy Purchase Eraser redemptions. And the benefits are not too shabby, either.A couple of years ago, Venture was an okay card that didn't get me all that excited. But these days, it's worth a serious look. It isn't my personal number-one card, but it is a great choice for a lot of people and one I would certainly recommend considering.Click here to learn more about the Capital One Venture card More credit card coverageWhat's the best airline credit card'The best cash-back credit cardsSouthwest credit card reviewBest rewards credit cardsJoin the conversation about this storyNOW WATCH: Apple forever changed the biggest tech event of the year by not showing up
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