To earn miles through Capital One's Venture rewards program, you must apply for the Capital One Venture credit card or the Capital One VentureOne credit card, and use the card regularly to earn miles, according to Capital One's website. Both cards require applicants to have excellent credit scores.
The Venture credit cards from Capital One reward miles rather than cash back, as noted on the Capital One website. As of 2015, Venture cardholders earn two miles for every $1 they spend and have no limit on the amount they can earn. While there is no annual fee on the first year for this card, the cardholder must pay $59 for each additional year his card is active. If the cardholder spends a minimum of $3,000 within his first three months of ownership, he earns 40,000 bonus miles, which is the equivalent of $400 worth of travel expenses. The purchase and transfer annual percentage rates for this card range between 12.9 and 22.9 percent.
The VentureOne credit card works in the same way as the regular Venture card but comes with fewer rewards, Capital One states. Rewards for VentureOne cards include 1.25 miles earned per dollar, no annual fees ever, 20,000 bonus miles earned if $1,000 is spent in the first three months, and APR's between 11.9 and 21.9 percent. Rewards do not expire on either card.