Exploring the Capital One Venture X Rewards Credit Card

Introduction

The Capital One Venture X Rewards Credit Card presents an outstanding rewards rate, access to airport lounges, and substantial travel credits, all designed to offset the $395 annual fee (see rates and fees).

To maximize the card's benefits, utilizing the issuer’s online travel portal is essential. If this aligns with your preferences, this card competes well in the premium travel credit card market. Despite its many features, this card is more straightforward compared to most premium cards, making it more accessible, especially for newcomers.

Unlike co-branded airline and hotel credit cards, you won’t receive brand-specific perks like free checked bags or complimentary hotel nights. However, it provides the flexibility of the popular Capital One Venture Rewards Credit Card while adding numerous perks that might make it your ultimate travel companion.

Capital One Venture X Rewards Credit Card: Basics

Card Type: Travel

Annual Fee: $395 (see rates and fees)

Sign-Up Bonus: Earn 75,000 bonus miles when you spend $4,000 on purchases within the first 3 months from account opening, equivalent to $750 in travel.

Rewards:

• 2 miles per dollar spent on purchases.
• 5 miles per dollar on flights booked via Capital One Travel.
• 10 miles per dollar on hotels and rental cars booked via Capital One Travel.

Redemption Options:

• Use miles to book travel through Capital One at a value of 1 cent per mile.
• Redeem miles for a statement credit against travel purchases at a value of 1 cent per mile.
• Transfer miles to more than 15 partner airline and hotel programs. The per-mile value depends on the transfer partner and how you redeem the transferred miles.
• Redeem miles for gift cards.

Interest Rate: The ongoing APR is 19.99%-29.99% Variable APR.

Foreign Transaction Fees: None

Credit Required: Excellent

Other Benefits

(Note: Benefits may change over time.)

• Up to a $300 annual credit for bookings made on Capital One Travel.
• 10,000 bonus miles every account anniversary (equal to $100 toward travel).
• Unlimited access to Capital One Lounges and more than 1,300 lounges through the Capital One Partner Network.
• Access to entertainment, sports, and dining events through the Capital One Experiences program.
• Complimentary Hertz President’s Circle status (car upgrades, expedited pickup, and more).
• Credit of up to $100 for the application fee for Global Entry or TSA PreCheck when you pay with the card.
• Extra perks when you book a hotel stay through Capital One's Premier Collection, such as a $100 experience credit, daily breakfast for two people, and complimentary WiFi.
• Cell phone insurance.
• Shopping protections, including price prediction, price watch, price drop protection, price match guarantee, and extended warranty.
• Travel protections.

Benefits and Perks

High Rewards Rate:

It's expected for a higher-end travel credit card to offer bonus miles on travel spending, and this one does so, especially if you use Capital One’s online travel-booking site:

• 5 miles per dollar on flights booked via Capital One Travel.
• 10 miles per dollar on hotels and rental cars booked via Capital One Travel.

This card also rewards everyday spending, earning 2 miles per dollar spent on purchases outside those bonus areas. This is an excellent rewards rate, given that much spending falls outside the usual bonus categories. If this card is your primary card, you'll accumulate miles quickly, even if you're not booking a lot of travel.

Generous Sign-Up Bonus:

Sign-up bonuses can change over time, especially with travel credit cards. However, the Capital One Venture X Rewards Credit Card offers an excellent one: Earn 75,000 bonus miles when you spend $4,000 on purchases within the first 3 months from account opening, equal to $750 in travel. This bonus can cover the annual fee for nearly two years. The only downside is that you'll need to spend a significant amount on the card initially. Spending $4,000 on purchases within the first three months averages about $1,333 per month.

Airport Lounge Access:

In addition to access to more than 1,300 Priority Pass lounges, a common offering on travel cards in this class, the Capital One Venture X Rewards Credit Card offers access to Plaza Premium Lounges and full access to the new Capital One Lounges. As of November 2023, Capital One Lounges are open at Dulles International Airport outside of Washington, D.C., Dallas-Fort Worth International Airport, and Denver International Airport.

(Nerdy Tip: In addition to Capital One Venture X Rewards Credit Card holders, authorized users receive unlimited access to both types of lounges. Many travel credit cards restrict lounge access to the primary cardholder. Up to four authorized users can be added for free, which is not the case for other premium travel cards.)

Anniversary Perks:

Central to the value of the Capital One Venture X Rewards Credit Card are the annual credits, which have substantial dollar value:

• Up to a $300 annual credit for bookings made through Capital One Travel.
• 10,000 bonus miles every account anniversary (equal to $100 toward travel). The first batch of miles is received upon renewing after one year of card membership.

These credits alone, granted each year, make up for the annual fee, assuming you’ll use the Capital One Travel online booking service. More details on that later.

Flexible Redemption Options:

Capital One's rewards program offers several ways to use your miles for travel — both for travel you've already paid for and for travel you want to book:

• Redeem rewards as a statement credit. Book travel however you want, then redeem miles for a statement credit for some or all of the cost. Miles are worth 1 cent each when redeemed, with no minimum redemption amount required. Any expense that Capital One considers "travel" is eligible, including flights, hotel stays, rail lines, car rental agencies, limousine services, bus lines, cruise lines, taxi cabs, travel agents, and time shares, according to the Capital One website.
• Book through the issuer's travel center. This online portal offers flights, hotels, rental cars, and vacation packages. You can pay upfront with your miles, at a rate of 1 cent per mile.
• Transfer miles to partners. Capital One lets you transfer your miles to the loyalty programs of several airline and hotel partners.

Miles have no blackout dates and never expire.

Simplicity:

“Simple” and “premium travel credit card” aren't usually associated, as the typical card in that category is incredibly complicated. However, relatively, the Capital One Venture X Rewards Credit Card is easier to understand than, for instance, The Platinum Card® from American Express. The Platinum Card has a dizzying array of benefits, many of which aren’t super-useful to everybody or require an inordinate amount of effort to use.

By contrast, the Capital One Venture X Rewards Credit Card retains the simplicity of the Capital One Venture Rewards Credit Card at its core by offering a flat rewards rate on all spending and allowing you to use rewards to pay for travel.

It also includes airport lounge access and more rewards if you use the Capital One Travel portal.

The point is that someone willing to endure only modest hassle from their travel credit card can enjoy and benefit from the Capital One Venture X Rewards Credit Card. That same person might be frustrated by complex competing travel credit cards.

Travel-Friendly Perks:

The Capital One Venture X Rewards Credit Card offers additional benefits that frequent travelers will enjoy, some of which are because it's a top-tier Visa Infinite card:

• Complimentary Hertz President’s Circle status. This is the top status tier at Hertz. You can get confirmed one-car-class upgrades, a 50% bonus on Gold Plus Rewards points on qualified rentals, a free additional driver, expedited pickup and e-return, and more. The status is typically reserved for customers who have 20 or more rentals in a year or spend $4,000. The status level is valid through 2024, after which cardholders "will be reverted to the level commensurate with Hertz standard usage policies," says the card's terms and conditions.
• Trusted traveler application credit. A statement credit of up to $100 for the application fee for Global Entry or TSA PreCheck. The credit is available once every four years.
• Cell phone insurance. This is available for primary cardholders and authorized users.
• Travel protections, including auto rental collision damage waiver, trip cancellation and interruption, and trip delay reimbursement.
• No foreign transaction fees. This is standard on travel credit cards and useful for overseas purchases (see rates and fees).

Considerations

Annual Fee:

When it comes to annual fees, it’s all relative. A yearly fee of $395 is substantial, but other luxury travel credit cards have similar or even significantly higher fees.

For comparison:

• U.S. Bank Altitude™ Reserve Visa Infinite® Card: $400.
• Chase Sapphire Reserve®: $550.
• The Platinum Card® from American Express: $695.

However, if the significant annual fee concerns you, but you appreciate certain aspects of the card, consider the original Venture card with fewer perks: Capital One Venture Rewards Credit Card.

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