August 17, 2022

Capital One Venture X Credit Card Review: Great Returns for Frequent Travelers

GOBankingRates Score Quick Take: Thanks to perks such as travel credits, a sign-up bonus and…

Capital One Venture X Credit Card Review: Great Returns for Frequent Travelers

GOBankingRates Score

Quick Take: Thanks to perks such as travel credits, a sign-up bonus and easy access to airport lounges, the Capital One Venture X Credit Card stands out from the crowd. Its simplicity and easy use combined with the perks make this card appealing.

  • Sign-Up Bonus

  • Earning Rewards

  • Redeeming Rewards

  • Fees

  • Anniversary & Other Perks

How did we calculate this?

Pros

  • Excellent reward rate
  • Bonus offers for new cardholders
  • Travel credit for bookings made using Capital One Travel
  • Bonus rewards on every account anniversary
  • Access to the membership of Priority Pass Select

Cons

  • Annual fee of $395 may be high for some
  • Demands excellent credit

About Capital One Venture X Credit Card

Right after its launch in November 2021, Capital One Venture X became the talk of the town. This premium travel card has a lot more to offer than its competitors. From an easy sign-up bonus to access to different airport lounges, the Capital One Venture X provides some valuable perks.

The credit card has features that can easily meet your travel preferences and goals. It does come with a hefty fee of $395, but in regards to the fees of other premium cards, it’s comparatively low. 

If you plan to apply for this card, read through the Capital One Venture X review below for a complete analysis and guidance to decide whether it’s right for you. 

Who Should Get a Capital One Venture X Credit Card?

If you want to boost your travel experience, the Capital One Venture X Credit Card is perfect for you. Interestingly, the anniversary miles and the amount of annual credit provided against bookings cover the overall yearly fee on this card.

The Capital One Venture X card provides essentially free airport lounge access and matchless travel protection and offers its cardholders 10,000 bonus miles on account anniversaries.

In some cases, the card extends a few of these perks to four authorized users for free.

What’s more, this card is for anyone who wants to experience a Capital One airport lounge and benefit from facilities such as grab-and-go food, Peloton studios for workouts and beautifully constructed workspaces.

Other than that, it allows any cardholder to apply for a Priority Pass and get access to many different airport lounges around the globe.

In a nutshell, a Capital One Venture X credit card should suit anyone looking for a one-card setup designed to gain some travel rewards and facilitate all travel purchases.

Best Features

Here are some of the best features of Capital One Venture X.

Sign-up Bonus

The Capital One Venture X card offers an excellent and generous sign-up bonus of 75,000 miles after spending $4,000 on the card within the first three months.

One mile is essentially worth one cent, so you would end up with a $750 bonus. This amount is enough to cover your annual fee for almost two years.

Earning Rewards

The reward-earning process of this credit card is quite simple. For example, you can earn around 10 miles for every dollar spent on rental cars and hotels purchased using Capital One Travel. You get five miles for every dollar on flights and two miles for other eligible purchases.

What’s more, there is also a $100 Global Entry or TSA PreCheck Credit and an expanded annual travel credit worth $300, but that too comes with some rules.

Redeeming Rewards

One of the best features of Venture X is that it supports your travel and offers an easy way to redeem all the rewards.

You are free to make any purchases you want and, after the bill arrives, you can use your earned miles against purchases in a specific category. 

There are many ways to redeem your miles earned via Capital One Venture X Credit Card.

Capital One has a host of hotel and airline transfer partners, such as Air Canada Aeroplan, British Airways Avios and Emirates Skywards. Unfortunately, miles earned through Capital One can be difficult to redeem for U.S.-based airlines. 

Additionally, Capital One also facilitates its customers with fixed-value redemptions. This feature works ideally for people looking for a straightforward redemption system rather than a cent-per-point value.

This redemption includes:

  • You can easily book any new travel via Capital One Travel.
  • The value of every mile is one cent that you can use to pay off any travel purchases incurred in the last 90 days. This redemption process saves you from any complex royalty programs.
  • You also can utilize your miles for gift cards.
  • You can redeem your miles for cash back. You can expect to get this amount within a few business days.
  • Link your card with PayPal or Amazon and use the miles to make payments through these platforms.
  • Via Capital One Entertainment, you can also redeem miles for exclusive tickets, event access and perks.

Fees

The annual fee of the Venture X is $395. This might be substantial for many, but similar premium cards charge the same — if not more.

For instance, Chase Sapphire Reserve has an annual fee of $550. Similarly, the Platinum Card from American Express charges a fee of $695.

If this fee is too much for you, you can opt for an alternative card, such as the original Capital One Venture Rewards card. This comes with fewer perks but follows the same general aspects of a Venture X card.

Anniversary and Other Perks

An annual fee may sound like a hindrance, but many perks easily offset this cost. Read below for some fantastic benefits that you can get with this card.

Travel Benefits

  • Airport Lounge Access: Besides having access to more than 1,400 Priority Pass lounges, this card also gives you access to some Capital One lounges. There is only one of these lounges right now; but, as a cardholder, you are entitled to two free visits and a visit at a discounted price.
  • Rental Car: The cardholder and authorized users receive Hertz President’s Circle status. This status includes benefits such as car upgrades, an additional driver for free, 1.5 points on every dollar spent on car rentals and a dedicated line for customer service. You can achieve this status after spending $3,000.
  • TSA PreCheck or Global Entry: You can get a maximum of $100 in credit for either of these services. Both Global Entry and TSA PreCheck enhance your security experience and allow you to bypass any standard lines. 
  • Primary Car Insurance: As part of travel protections, you can receive a maximum of $75,000 to cover any damage to your rental car caused by theft or accident.
  • Interruption Insurance and Trip Cancellation: In case of a canceled or interrupted trip, you can get a maximum of $2,000 for any non-refundable expenses incurred during every insured trip.
  • Insurance on Trip Delay: For a flight delay exceeding six hours, you can get $500 to cover costs such as meals.
  • Reimbursement on Lost Luggage: For every covered trip, you are eligible for a maximum amount of $3,000 to cover for loss or damage to your bag.

Additional Perks

  • Authorized Users: Other than a cardholder, authorized users can also access these lounges. Moreover, unlike other travel cards, there is no fee for adding these users to the card.
  • Anniversary Bonus: You can earn 10,000 miles on every anniversary of your account. The value of these miles is $100.
  • Cell Phone Protection: If you use your card for making a bill payment, you are automatically eligible for coverage of up to $800 per claim. You are allowed just two claims, but there is a deductible of $50 on every occurrence.
  • Shopping Protections: You are eligible to receive coverage of a maximum of $10,000 for every claim made on the theft or damage of items purchased in the last 90 days. Besides, there is return protection where you can receive a maximum of $300 on every item if the retailer fails to accommodate your return. Lastly, you can also receive an extended warranty for purchases with a warranty period of three years or less.

Compare: Capital One Venture Rewards Card and Capital One Venture X Card

The Capital One Venture Rewards and Venture X travel cards are pretty similar. For instance, they have the same base rate for rewards and offer the same credit for Global Entry or TSA PreCheck.

However, there are a few differences that can help you decide whether an upgrade is worthwhile. 

For starters, the Venture Rewards card has an annual fee of $95, which is far less than $395 with Venture X. When it comes to the sign-up bonus, Venture X and Venture Rewards both offer 75,000 miles after you spend $4,000 within the first 3 months.

Moreover, Venture Rewards doesn’t offer any annual credit. Also, unlike Venture X, it provides only five miles on car rentals and hotels booked through the card and two miles for every dollar spent on booked flights.

Moreover, Venture Rewards only offers two complimentary visits per year to Capital One lounges, whereas Venture X offers unlimited visits. Moreover, Venture Rewards offers no access to Priority Pass lounges in international airports, while Venture X does.

The comparison between the two cards is significant because Venture X is an upgraded version of Venture Rewards. However, if you have the former already, the differences between the two can help you decide whether you need a Venture X card or if a Venture Rewards is sufficient. 

Below is a table to summarize major comparisons.

Capital One Travel Cards Capital One Venture X Capital One Venture Rewards
Fee $395 $95
Sign-up bonus 75,000 miles after spending $4,000 on purchases within first three months 75,000 miles after spending $4,000 on purchases within first three months
Rewards on car rentals and hotels 10X 5X
Rewards on booked flights 5X 2X

Good To Know

This credit card works best for you if you want a single setup for all your purchases. It offers great travel perks and rewards. However, the Venture X card may not benefit if you are looking for a free credit card with no annual fee. If you crave elite status by booking all flights and hotels directly, this card might not prove beneficial. 

Capital One Venture X vs. Competitors

Many other credit cards are pretty similar to Capital One Venture X, as they offer many similar services and rewards. However, two competitors, American Express Platinum and Chase Sapphire Reserve, stand out.

American Express Platinum

For starters, the annual fee of American Express Platinum is around $695, almost $300 more than Venture X’s. Secondly, Venture X stands out from its competitor regarding simplicity.

American Express Platinum does not support uncomplicated perks. For instance, it is pretty hard to track 10 statement credits allotted in different periods.

Other than that, this card also has some benefits that might not be useful for most cardholders. For instance, the SoulCycle credit may prove useless for people who don’t want to buy a bike.

On the flip side, Venture X has a minimal lounge network, but American Express Platinum has Centurion Lounges in more than a dozen airports. So, if you fly regularly, you may prefer American Express Platinum over Venture X for this fantastic benefit.

Chase Sapphire Reserve

Many factors make a Chase Sapphire Reserve card similar to a Capital One Venture X card. For example, the former provides similar earning rewards, except that it offers three points for every dollar spent on dining and travel purchases.

Additionally, the Ultimate Rewards program by Chase Sapphire Reserve has excellent transfer partners, including World of Hyatt. Also, the 1.5 cent rate of redemption for any travel by the cardholder is more than the 1 cent rate offered by Venture X.

However, the annual fee of Chase Sapphire Reserve is $550, which is comparatively high. In that case, Venture X proves much more affordable and offers similar perks.

Final Take

Venture X is an ideal travel credit card for anyone who wants to enjoy some strong earnings, access travel lounges and redeem miles via travel partners.

FAQ

Here are the answers to some of the most frequently asked questions about the Capital One Venture X Credit Card.

  • Is there an expiration date for Capital One miles?
    • No. As long as your account is open and in good standing, you can redeem the miles whenever you want. However, in case you plan to close your account, any unredeemed miles will go to waste.
  • Can I get a Venture X card if I already have a Venture card?
    • Yes. You can easily apply for the Venture X card if you already have a Venture card.
  • What is the credit score requirement to get a Venture X credit card?
    • You’ll need an excellent credit score to qualify for the Capital One Venture X card.
    • Before you apply for the card, you should ensure that your credit score is high enough and you can easily afford the $395 annual fee. A high score helps increase your acceptance chances. Moreover, it also saves your credit score from any further damage.
  • Is Venture X a Mastercard or a Visa?
  • Is it possible to waive the annual fee?
    • It is impossible to waive any fee for your first year using this card. You can consult a representative from Capital One for a waiver for subsequent fees as a courtesy.

Cynthia Measom contributed to the reporting for this article.

Editorial Note: This content is not provided by Capital One, Chase or American Express. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by Capital One, Chase or American Express.

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About the Author

Scott Jeffries is a seasoned technology professional based in Florida. He writes on the topics of business, technology, digital marketing and personal finance.

After earning his bachelor’s in Management Information Systems with a minor in Business, Scott spent 15 years working in technology. He’s helped startups to Fortune 100 companies bring software products to life. When he’s not writing or building software, Scott can be found reading or spending time outside with his kids.