Premium credit cards are not new. Both Chase and American Express have been offering them for years. Citi also offered a premium card for several years, although it is no longer available to new applicants.
However, Capital One’s quest for luxury rewards credit cards is a relative newcomer compared to other banks’ products. The Capital One Venture X Rewards Credit Card hit the scene in 2021 with an annual fee of $395 (see Rates and Fees) — a full $300 per year more than the fee for most other issuer credit cards.
This caused many Capital One clients’ mouths to drop as they asked, “Is it worth it?” Does this card really offer $300 in additional benefits over those other cards? Let’s take a look at what you get for this $395 per year to see if the fee is worth it on the Venture X card.
Welcome offer
New candidates for the Venture X card can earn 75,000 bonus Capital One miles after spending $4,000 on the card within the first three months of opening the account.
According to TPG’s appraisals, these miles are worth 1.85 cents each. That makes this bonus worth $1,388.
The value of these miles has increased in recent years, thanks to Capital One adding more transfer partners (there are now 18 in total) and improving the transfer rate across multiple partners. There are many ways to redeem your Miles for great value.
It’s worth noting that Capital One can be stingy when approving credit card applications. You can only have two personal Capital One credit cards at any one time. In addition, the bank is known to be very sensitive to the information on your credit report, including your number of recent hard inquiries, new accounts, and general accounts with other issuers. There are exceptions, but keep this information in mind when deciding whether to apply for the Venture X card.
Related: Our complete guide to credit card application restrictions
$300 annual travel credit
Venture X cardholders receive up to $300 in travel credits per year for bookings made through the Capital One Travel portal.
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The $300 annual credit benefit with Capital One Travel is easy. Each account year, you will receive up to $300 in credits for purchases made through Capital One Travel, including hotel bookings, car rentals, and airline tickets.
However, the credit does not apply to travel purchases made through any other channel. While that makes it more restrictive than the $300 annual travel credit available at the Chase Sapphire Reserve®it’s still relatively easy to use, and it significantly offsets the $395 cost for the card (see rates and fees) — as long as you actually use it.
There are some drawbacks to using a third party booking service; notably, elite benefits are usually not recognized for hotels and rental cars. However, Capital One has made significant strides in improving the travel booking experience, most recently investing in the Hopper booking platform and adding customer-friendly features such as price drop prediction and a best price guarantee. It is best to use this credit to book stays at boutique hotels or hotels where status benefits are not of interest to you, as well as for flights or rental car bookings with Hertz.
Related: How the Capital One Venture X travel credit can save you $300 on your next trip
Anniversary Bonus Miles
Venture X cardholders have a second annual benefit of 10,000 bonus miles on your account anniversary. This means that you will receive these Miles one year after you opened your account and on that date each year after that, and not every January at the start of a new year.
According to the latest TPG valuations, 10,000 Capital One miles are worth $185, thanks to the potential value of airline and hotel transfer partners. However, if you were to redeem the 10,000 miles for a fixed value for travel purchases, you would “only” get $100 in value, which is still pretty good.
Combined with the $300 Capital One Travel portal statement credit, cardholders can receive an easy $400 worth of their card annually – more than offsetting the $395 annual fee. And during the first year you get even more value by receiving the welcome bonus points.
Related: Who Should (and Shouldn’t) Get the Capital One Venture X?
Access to lounges
Venture X cardholders have access to three types of lounges: Priority Pass, Plaza Premium, and Capital One’s private lounges for themselves and up to two guests.
Most notably, having the Venture X is the easiest way to get unlimited access to Capital One’s lounges. Currently there are two: one at Dallas Fort Worth International Airport and one at Dulles International Airport. Plans for future locations in Denver (DEN) and Las Vegas (LAS) have been announced, but opening dates have not yet been announced.
Cardholders also receive unlimited access to lounges across Capital One’s partner network, including more than 1,400 Priority Pass lounges and more than 130 Plaza Premium lounges.
Just one pass to a Capital One lounge normally costs $65, so the value of this perk quickly adds up to justify the annual cost of the card.
Related: Best credit cards for lounge access
Benefits car rental
The Capital One Venture X Rewards Credit Card has two main benefits when it comes to rental cars: earning 10 miles per dollar on all rentals booked through the Capital One Travel portal (instead of 2 miles per dollar when booked elsewhere) and the highest Hertz President’s Circle status.
You must first register with Hertz for this benefit. President’s Circle status offers benefits such as guaranteed upgrades, the largest selection of cars when your rental starts, and a free additional driver (which typically costs $13.50 per day, up to a maximum of $189 during your rental).
Most importantly, you can skip the line at most major airports and go straight to your car, saving you a lot of time, especially during busy travel periods. You can also use this to match status with other programs, and gain elite status with those rewards programs as well.
Upon enrollment, accessible through the Capital One website or mobile app, eligible cardholders will remain at the upgraded status level through December 31, 2024. Please note that enrollment through the normal Hertz Gold Plus Rewards enrollment process (e.g. on Hertz.com) will not be automatic. detect that a cardholder is eligible for the program and cardholders are not automatically upgraded to the applicable status level. Additional terms and conditions apply.
Related: Stacking rental car benefits with Hertz and the Venture X
Access the Premier collection
Venture X cardholders have access to the Capital One Premier Collection, a new boutique and luxury hotel program that launched in late 2022.
Cardholders can pay in cash or redeem their Miles at a rate of 1 cent each to book exclusive properties and receive perks along the way. These benefits include room upgrades when available, free WiFi during your stay, free breakfast for two each day, and a $100 on-site credit for things like spa visits or dinner at the on-site restaurant.
And since these bookings are made through Capital One Travel, cardholders earn 10 miles per dollar when they pay for their stay with the Venture X card.
Related: A Comparison of Luxury Hotel Programs from Credit Card Issuers
Excellent benefits for authorized users
While many credit cards reserve their best benefits only for the primary account holder, the credit card does not Company X. Cardholders can add up to four free authorized users. These users can receive the following benefits on their own, all without paying a fee:
It is important to note that some benefits are reserved for the primary cardholder only. These include the 10,000 bonus miles deposited into that person’s account on that person’s account anniversary; authorized users are not assigned their own bonus miles. Authorized users also don’t get their own $300 travel credit each year; However, purchases made by authorized users may be credited against the primary cardholder’s travel credit. Finally, Authorized Users do not receive their own reimbursement for the Global Entry or TSA PreCheck application fee (explained in the next section); that benefit is shared by all account members.
When analyzing these benefits for authorized users, compare them to the benefits offered to authorized users on other premium travel cards and their associated costs. For comparison, The Platinum Card® from American Express charges $195 for each authorized user (see rates and fees), and the Chase Sapphire Reserve charges $75 per authorized user. This makes the Venture X a much more affordable option for couples or families.
Related: Why You Should Add Authorized Users to the Capital One Venture X
Other benefits
Company X (see Fees and Fees) cardholders can receive reimbursement for their application fees at TSA PreCheck or Global Entry. This benefit is available every four years and is worth up to $100 in statement credits.
Cardholders also have access to various travel and shopping protections when paying with their card:
- Trip cancellation and interruption insurance
- Travel Delay Compensation: Up to $500 per person for reasonable expenses such as hotel rooms, food, toiletries, or clothing when your flight is delayed overnight or by six hours or more.
- Compensation for lost luggage
- Mobile protection
- Primary rental car insurance
- Purchase, extended warranty and return protection
*Benefits available on Visa Infinite cards.
For Capital One products listed on this page, some of the above benefits are provided by Visa® or Mastercard® and may vary by product. See the respective Benefits Guide for more information as terms and exclusions apply.
Related: 6 things you can do when you get the Capital One Venture X
In short
The $300 annual travel credit, 10,000 anniversary miles, and TSA PreCheck or Global Entry benefit provide a value of at least $425 each year, which more than justifies the card’s $395 annual fee. And this doesn’t take into account the intangibles, such as the value your authorized users can achieve, the free food you consume in lounges, or the money you save through purchase protection.
Of course, these benefits only provide value if you use them. If you know you won’t be able to maximize the benefits of the Venture X, you’ll probably want to opt for a different card.
For more details on the Venture X, see our full map review.
Submit your application here: Capital One Venture X Rewards Credit Card with a 75,000 miles welcome bonus after spending $4,000 on the card within three months of opening your account
For Amex Platinum rates and fees, click here.