Cashing In with Capital One Venture for Business

Capital One made a big splash with their promotions for their Venture Rewards card. It is a rare event when a financial product actually lives up to its hype, yet the Capital One Venture card is in fact a rewards card that offers tremendous value. Now, Capital One is following up on this product with their Venture for Business card. It offers many of the same features as their consumer card in a product targeted at companies and sole proprietors.

With Capital One’s Venture Business card, cardholders earn two miles on every single dollar spent regardless of the purchase category. Each of these miles is worth one cent towards a statement credit for any travel expense. Eligible travel expenses include hotels, airfare, car rentals and any charges from travel agents.

Like the consumer Venture Card, the business version of Venture carries a reasonable, though not insignificant $59 annual fee. This fee is waived during the first year for new card-members and to break even it only takes $3,000 of spending. Every dollar spent after that racks up rewards profit.

The travel focused Venture for Business is, like other Capital One offers, a rare credit card with no foreign transaction fees. Additionally, unlike many business rewards cards, businesses can receive additional cards for employees at no cost.

The easiest way to understand Venture rewards is to forget the word miles. Capital One is really providing two cents per dollar spent in cash back. To redeem this cash back, a business merely needs to go online and select any eligible travel expense charged to the card. Once this is done, Capital One will quickly generate a statement credit.

Reimbursed travel is not only convenient – you can book any flight or hotel you want on any website you choose – but it is also better for those who want to rack up as many frequent flyer miles as possible, as flights booked with frequent flyer miles don’t accrue miles, while those paid for via redeemed Venture miles do.

The one drawback to this card is that, although it offers as good of a rewards return as any business credit card on the market, cardholders do need to travel to redeem these rewards. Cash back would obviously be easier to manage, but cash back cards do not provide a full 2% on every purchase. Thus, when choosing Venture, you are essentially committing to travel at some time in the future if you want to profit from your rewards.

Capital One Venture for Business is an ideal card for businesses who wish to maximize the rewards earned from their credit card expenditures. There is no other product that earns 2% cash back on all purchases throughout the year. And, although earning miles limits redemption options to travel, few cards offer the ability to use miles as easily as the Venture Business Card does.

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