Editor’s note: This is a recurring post, regularly updated with new information and offers.

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. To obtain and use these rewards, you must hold a card with an annual fee, such as The Platinum Card® from American Express (see rates and fees) or the Chase Sapphire Reserve®respectively (keep in mind, though, that not all annual fees are bad).

In Capital One’s portfolio of cardsthere is an often overlooked card with no annual fee that still has transferable rewards: the Capital One VentureOne Rewards Credit Card.

The no-annual-fee Capital One Savor Cash Rewards Credit Card is an ideal complement to the VentureOne because when you have 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 Savor Cash cards are among the best no-annual-fee duos for travel rewards.

The VentureOne card’s earnings are simple. It earns unlimited:

Meanwhile, the Savor Cash has more bonus categories with elevated earnings. It earns:

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This duo really begins to shine when spending on dining, grocery stores (excluding superstores like Walmart® and Target®), entertainment and popular streaming services. When the rewards are transferred to VentureOne, this equates to 3 miles per dollar spent. Plus, with the VentureOne and Savor Cash duo, you’ll earn at least 1.25 miles on all other purchases.

Related: Airline and hotel dining rewards programs: Which is best for you?

One of VentureOne’s biggest perks is the ability to transfer to partners as an alternative to cashing out via check or statement credits with the Savor. This allows you to transfer miles or earn cash back when one presents a better value than the other.

TPG’s March 2025 valuations peg Capital One miles at 1.85 cents each thanks to its 15-plus valuable transfer partnersincluding 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. 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: Credit card transfer partners: Guide to transferring points and miles to airlines and hotels

The VentureOne card’s welcome bonus is 20,000 bonus miles after spending $500 within the first three months from account opening, worth $370 based on TPG’s March 2025 valuations.

The welcome bonus for the Savor Cash is $200 cash back after spending $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 Savor Cash have no annual fees and neither card has foreign transaction fees.

Additionally, adding authorized users to the account has no additional cost, helping you earn more rewards.

Related: The best no-annual-fee credit cards

Capital One offers a similar card duo with one of its more premium cards: the Capital One Venture X Rewards Credit Card and the Savor Cash card. While the first card carries an annual fee, it can easily make sense to pay that fee in exchange for the additional perks compared to the no-annual-fee options.

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 bonus is worth $1,388 based on TPG’s March 2025 valuations. 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.

Although the Venture X has a significantly higher minimum spending requirement than its counterparts, the increase can be worthwhile if you can complete it.

The Venture X has an annual fee of $395, while the VentureOne has no annual fee. But, by not paying for the annual fees, you are missing out on some perks with only the VentureOne and Savor Cash cards.

For example, the Venture X has a $300 annual credit for bookings through Capital One Travel and a 10,000-mile yearly anniversary bonuswhich alone makes 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 more miles.

This is in addition to Venture X’s more luxurious perks, such as lounge access worldwide and up to $120 in statement credits for TSA PreCheck or Global Entry.

Related: 12 ways to meet the spending requirements and earn the bonus on a new card

Though the welcome bonuses and overall earnings on purchases are less than their premium counterparts, the Capital One VentureOne and Savor Cash cards still offer no foreign transaction fees and the ability to combine and transfer miles to the same amazing partners.

For those looking for no-frills cards that will allow them to travel inexpensively, the VentureOne and Savor Cash duo is a great option to access transferable rewards.

To learn more, read our full reviews of the VentureOne and Savor Cash.

Learn More: Capital One VentureOne and Capital One Savor Cash

Related: The best rewards credit cards to add to your wallet

For rates and fees of The Platinum Card® from American Express Card, click here