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Capital One No Longer Waives the First Annual Fee on Venture Card

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The Capital One Venture Rewards Credit Card is one of the best cards for beginner (and even experienced) travelers. It's been a great starter card in part because its $95 annual fee was waived for the first year. 

But that has changed. Capital One is no longer waiving the first annual fee for new Venture Rewards Credit cardholders, according to the bank's website and terms and conditions. That means new cardholders getting approved for the card will have to pay $95 for the first year and every year thereafter.

A Capital One spokesperson confirmed that the change is permanent.


capital one venture annual fee
Click Here to get more information about the Capital One Venture Rewards Credit Card. 


Our Analysis

This was probably unavoidable, but it's still a bummer.

Not paying an annual fee until your second year with the Capital One Venture Card made it extremely valuable. You could open the card, earn 75,000 Venture miles after spending $4,000 in the first three months and use the $100 credit to apply for Global Entry or TSA PreCheck … all before paying an annual fee.

Read more: 6 Reasons Why the Capital One Venture Card is Great for Beginners.

But as the economy turns south, banks are tightening things up. By charging the $95 annual fee immediately, Capital One pulls in some additional money while also limiting applications for the Venture card. Banks are all about trying to decrease their risk in economic downturns.

This move comes roughly a year or so after Chase did the same thing with its popular Chase Sapphire Preferred® card. Chase started charging the $95 annual fee immediately last year when it upped the welcome bonus from 50,000 points to 60,000 points after spending $4,000 within three months.

Still, there's plenty of value with the Capital One Venture Card. That 75,000-mile welcome bonus can be used to cover up to $750 in travel purchases. Those miles are extra versatile – you can use them for much more than just for flights and hotels.

And even with a $95 annual fee, the $100 credit to cover your Global Entry or TSA PreCheck application comes in at a much lower price point than most cards that offer that benefit.


Bottom Line

It's a blow to anyone who was aiming to open the Capital One Venture card soon, but the Venture card still packs a punch.


Editorial Disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

Disclaimer: The responses below are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser’s responsibility to ensure all posts and/or questions are answered.

1 Responses

  • Beside being no longer metal now for new holder now they do this? This card does not worry the $95 annual fee. There are better options that don’t have the annual fee and you are better with the quicksilver rather than going for the venture one. They are screwing themselves with this.

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