Capital One launched the Capital One Venture X Rewards card in November 2021. The card has a solid sign-up bonus and some fantastic benefits. A $395 annual membership fee makes Venture X more palatable than its primary competitors at Chase and American Express.
Furthermore, the benefits are easy to understand. You can get the card’s full value and cover the annual fee. And maybe, just maybe, even come out ahead.
If you are in the market for a luxury travel rewards card, see below for all the information you need to know about this latest entry into the travel rewards market.
Whose wallet does the Capital One Venture X Rewards Card belong in?
A common opinion is that the Venture X card is for people wanting a better travel experience without doling out money for a hefty annual membership fee.
Let’s face it: The Capital One Venture X card is for those who want luxury perks for cheaper than the competition.
If that is you: the Venture X Rewards card – with its $395 annual fee – may be right for you.
This card comes with $300 annual statement credits for travel through Capital One Travel. The credit takes a huge bite out of the $395 annual fee.
Plus, you will receive 10,000 bonus miles every account anniversary, Capital One and Priority Pass lounge access, and travel protections. You can even add up to four authorized users for free.
Capital One has more airline and hotel partners than ever. What’s more, Venture X transfer miles at a one-to-one ratio to most of its partners.
Cardholders can go to the new Capital One lounge at Dallas-Fort Worth International airport (more to come).
Having one of these cards enables you to do a lot for the annual fee.
Capital One Venture X Rewards Sign-up bonus
75,000 bonus miles after you spend $4,000 on purchases in the first three months from account opening. This values the sign-up bonus at $750. If you transfer your points to one of Capital One’s airline and hotel partners, this value can go up to $1,388.
Main Benefits
Now the good stuff: The benefits Venture X gives you.
- $300 back in statement credit annually for bookings through Capital One’s travel portal
- 10,000 bonus miles every account anniversary, starting on your first anniversary.
- Lounge access: Complimentary access for cardholders, authorized users, and up to two guests per visit to Capital One Lounges and more than 1,300 Priority Pass lounges worldwide.
- Add up to four authorized users can be added at no charge. Plus, these authorized users receive access to Capital One Lounges with up to two guests. This benefit includes Priority Pass too.
- All users of the card receive Hertz President’s Circle status.
- Get up to $100 in statement credits for either TSA PreCheck or Global Entry.
- Travel insurances and protections.
- Cellphone protection coverage up to $1,600 per 12-month period.
Venture X Rewards Earning Rate
The Capital One Venture X Rewards Card earning rate structure is simple. Cardholders garner miles in each of these categories:
- Ten miles per dollar on hotels and car rentals booked via Capital One Travel.
- Five miles per dollar on flights booked via Capital One Travel.
- Two miles per dollar on other purchases.
Competitors?
Chase Sapphire Reserve
You can read our full review of the Chase Sapphire Reserve here.
Here is the short version: The Chase Sapphire Reserve card has access to Chase’s Ultimate Rewards program. This versatile program allows cardholders to transfer points to airline and hotel partners. The annual fee is $550. The Chase Sapphire Reserve offers many of the same protections as the Platinum Card. Earnings rates for specific categories may be more appealing, depending on your needs. The Chase Sapphire Reserve confers the following earnings rate structure:
- Ten points per dollar on car rentals and hotels purchased through Chase’s travel portal.
- Ten points per dollar on dining purchases through Chase Ultimate Rewards.
- Five points per dollar on flights purchased through Chase’s travel portal.
- Three points per dollar on all other travel and dining purchases worldwide.
- One point per dollar on everything else.
The Reserve includes a slate of other benefits and perks befitting a premium travel credit card. This card grants Priority Pass lounge access.
The Platinum Card from American Express
The Platinum Card from American Express has a similar story. Amex offers the Membership Rewards program that is transferrable to airline and hotel programs like Ultimate Rewards. Right now, Amex offers 100,000 Membership Rewards points after you spend $6,000 on purchases in the first six months when you get approved for the card. Yes, the annual fee is a bit higher at $695. But many perks and statement credits can lower the effective yearly cost.
In addition, the Platinum Card’s earning rate structure, like the Reserve’s and Venture X’s, is competitive:
- Earn 10x points on eligible purchases on the card at restaurants worldwide during your first six months of Card Membership.
- Earn 5x Membership Rewards® Points for flights booked directly with airlines or with the American Express travel portal for up to $500,000 on these purchase types per calendar year.
- Earn 5x Membership Rewards® points on prepaid hotels booked with American Express Travel.
One area where the Platinum Card excels compared to the Venture X and Reserve is automatically offering various statuses at hotels. If having status is your thing, then Amex may serve your needs better.
Conclusion
The marquee travel rewards cards before Capital One Venture X Rewards Card release were the American Express Platinum and the Chase Sapphire Reserve.
Both cards have higher annual fees—$ 550 for the Sapphire Reserve and $695 for the Platinum. You can view our review of the Chase Sapphire Reserve.
The card’s primary competitors seem expensive compared to the $395 annual fee for Venture X. However, we do not expect Venture X to stay at the same fee forever. The low cost is most certainly an enticement to get people the card. Once this card becomes popular, we expect Venture X to land an annual fee closer to the Chase Sapphire Reserve and the American Express Platinum Card.
In the meantime, Venture X is a solid premium travel credit card. Indeed, this competitive card has and will continue to change the travel rewards industry.
