Capital One Venture X Card Review: Is This Premium Card Worth It?

Capital One Venture X Card Review: Is This Premium Card Worth It?

The Capital One Venture X Rewards Credit Card is a strong competitor in the premium credit cards space. With a stellar earning rate, sign-up bonus and a multitude of luxury travel perks, this new card could be one of the best.

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Quick facts

  • Sign-up bonus: Earn 100,000 Miles when you spend $10,000 on purchases in the first 6 months from account opening
  • Earning rate: 2 Miles per dollar on every purchase, every day; 10 Miles on hotels and rental cars booked through Capital One Travel; 5 Miles on flights booked through Capital One Travel
  • Annual fee: $395
  • $300 travel credit: Up to a $300 annual credit for bookings made on Capital One Travel
  • Anniversary bonus: 10,000 bonus miles every account anniversary (equal to $100 towards travel)
  • Lounge access: Unlimited access to Capital One Lounges and 1,300+ Priority Pass lounges worldwide
  • Up to $100 credit for either TSA PreCheck® or Global Entry
  • For a limited time within your first year, cardholders can earn up to $200 in statement credits for vacation rental purchases like Airbnb and VRBO

Pros

  • Enormous sign-up bonus
  • Top earning rate on travel
  • Above average flat earning rate on all purchases
  • Valuable travel credits
  • Lounge access
  • 10,000 bonus miles every account anniversary

Cons

  • High annual fee
  • No automatic elite status
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Is the Capital One Venture X Rewards Credit Card worth it?

One of the newest premium credit cards on the market, the Capital One Venture X Rewards Credit Card might just beat out its competition. This card is well worth it, offering a premium earning rate on travel purchased through Capital One Travel and a higher-than-average 2X points for all other purchases.

This card also comes with a slew of valuable travel benefits ranging from account anniversary bonus points to extensive airport lounge access and more.

That said, more established (and more expensive) premium cards, like The Platinum Card® from American Express, offer even more perks such as enhanced travel credits and complimentary Hilton and Marriott elite status (enrollment required). If you have the budget for a pricier premium card and you travel enough to take advantage of the luxury travel perks, you may want to consider another premium credit card instead.

Who is the Capital One Venture X Rewards Credit Card best for?

The Capital One Venture X Rewards Credit Card is best for frequent travelers who have the budget for a premium credit card and can take advantage of all the luxury travel perks this card offers. For those not looking to break the bank on a more expensive premium card, the Capital One Venture X Rewards Credit Card can be an excellent choice.

For people looking to spend more in order to get more out of their premium travel credit card, it may be worth it to apply for a card like the Chase Sapphire Reserve® card or The Platinum Card® from American Express instead.

Sign-up bonus

The Capital One Venture X Rewards Credit Card offers new cardmembers a huge sign-up bonus: Earn 100,000 Miles when you spend $10,000 on purchases in the first 6 months from account opening.

Capital One miles are worth around 1 cent per mile when redeemed for travel, so this bonus is worth about $1,000 (or more, with the right travel transfer partner) — an incredible value when put toward travel purchases.

What's it worth?: $1,000 in travel statement credits

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Earning rate

The Capital One Venture X Rewards Credit Card allows cardholders to earn 2 Miles per dollar on every purchase, every day; 10 Miles on hotels and rental cars booked through Capital One Travel; 5 Miles on flights booked through Capital One Travel.

This is a fantastic rate on travel purchases and an above average rate on all non-bonus category purchases. While most other credit cards only offer 1X miles per dollar spent on all other purchases, the Capital One Venture X Rewards Credit Card offers 2X miles per dollar, making this card more valuable for everyday spending.

Redeeming rewards

Capital One miles are very simple to redeem. You can redeem your rewards for travel statement credits or transfer them to a Capital One travel partner to get the greatest value for your rewards. Similar to Chase Ultimate Rewards® and American Express Membership Rewards, Capital One has its own set of transfer partners that allow cardholders to maximize their rewards for at least 1 cent per mile.

That said, you also have several other redemption options available to you, they just might not be quite as valuable:

Redemption option
Mile value (in cents)
Cover select travel purchases1
Redeem with PayPal0.8
Shop with Amazon0.8
Get gift cards0.8-1
Redeem for cash back0.5
Transfer your rewards to travel loyalty programsDepends on the transfer partner and ratio
Book a trip through Capital One travel1 cent
Transfer your rewards to another Capital One account1 cent

One drawback of the Capital One Venture X Rewards Credit Card is that miles are only worth 0.5 cent when redeemed for cash back, which means you'll lose value if you need to cash out your rewards in a pinch. The Chase Sapphire Reserve® and Chase Sapphire Preferred® Card allow you to cash out your points at 1 cent per point.

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Transferring miles to a transfer partner

Capital One has significantly improved its point transfer options this year. You can transfer your Capital One Venture X Rewards Credit Card miles to 15+ travel and hotel programs, mostly at a 1:1 ratio. Though this list of partners currently ranks behind Chase and Amex due to the lack of a major U.S. airline program, it does include some great airline partners (like Air Canada Aeroplan).

With a little savvy, you can get more than 1 cent in value per each mile with these partners:

  • Accor Live Limitless (2:1)
  • Aeromexico Club Premier (1:1)
  • Air Canada Aeroplan (1:1)
  • Air France/KLM Flying Blue (1:1)
  • Avianca Lifemiles (1:1)
  • British Airways Avios (1:1)
  • Cathay Pacific Asia Miles (1:1)
  • Choice Privileges (1:1) Available later in 2021
  • Emirates Skywards (1:1)
  • Etihad Airways Guest (1:1)
  • Eva Air Infinity MileageLands (2:1.5)
  • Finnair Plus (1:1)
  • Qantas Frequent Flyer (1:1)
  • Singapore Airlines KrisFlyer (1:1)
  • TAP Air Portugal Miles&Go (1:1)
  • Turkish Airlines Miles&Smiles (1:1)
  • Wyndham Rewards (1:1)

Travel credits

Among the top benefits of the Capital One Venture X Rewards Credit Card are the variety of travel credits for cardholders. These credits work to fully offset the card's annual fee:

  • Up to a $300 annual credit for bookings made on Capital One Travel — This credit almost completely offsets the Capital One Venture X Rewards Credit Card's $395 annual fee. That said, you're restricted to using it on Capital One Travel. While Capital One's travel site (which is powered by Hopper) does offer a wide variety of travel options, you'll have to remember to book your travel through it to redeem the credit (and you can't compare prices from other sites to snag the lowest price). For a more flexible, easier-to-use travel credit, check out the Chase Sapphire Reserve®.
  • $100 credit for either TSA PreCheck® or Global Entry — The card offers up to a $100 credit to cover your application fee for TSA PreCheck® or Global Entry. This adds to the value in the first year (as you only have to apply every five years). We recommend putting this travel credit toward Global Entry, as it includes TSA PreCheck.
  • For a limited time, cardholders can earn up to $200 in statement credits for vacation rental purchases like Airbnb and VRBO — If you regularly book vacation rentals, this credit can be invaluable.

Other Capital One Venture X Rewards Credit Card benefits

The Capital One Venture X Rewards Credit Card may be one of the cheapest options for getting airport lounge access.

The card offers cardholders unlimited access to Capital One Lounges and 1,300+ Priority Pass lounges worldwide.

While only one Capital One lounge will be available in the near future — the Dallas/Fort Worth lounge is officially opening in November — there are plans for more lounges to open in Denver and Washington - Dulles Airport in 2022.

Capital One Lounges are full of premium amenities, like cycling and yoga rooms and futuristic nap pods, and cardholders will get two complimentary guest visits.

With Priority Pass access, cardmembers can visit over 1,000 airport lounges around the world. These lounges include things like complimentary refreshments, free Wi-Fi, sleeping areas, spa treatments and more.

Another top perk offered by the Capital One Venture X Rewards Credit Card is that members will receive 10,000 bonus miles every account anniversary, which is equal to $100 towards travel. This is a nice annual gift and will give you a little something to kick-start your travels each year (and help alleviate your annual fee).

Capital One Travel has thousands of flights, hotels and rental cars available for booking on their site. Capital One now boasts an innovative travel booking experience, which includes things like predictive pricing models and tools for finding the best deals possible. You'll also have access to free price drop protection, 24/7 alert technology, and the option to freeze a price you find and return to book it up to 14 days later.

Drawbacks

  • High annual fee — You'll have to contend with a high annual fee, but keep this in mind: While the $395 annual fee is high, the travel credits you receive with the Capital One Venture X Rewards Credit Card (including up to $300 in travel credits and $100 worth of miles each year) more than make up for it. Most other premium credit cards charge annual fees that can be twice as much.
  • No automatic elite status —- Unfortunately, one of the top travel perks offered by other premium cards is missing from the Capital One Venture X Rewards Credit Card — it doesn't offer automatic hotel elite status. The Platinum Card® from American Express, for example, offers both Marriott and Hilton elite status through card membership (enrollment required).

Capital One Venture X Rewards Credit Card credit score

The Capital One Venture X Rewards Credit Card requires at least a 720 credit score. You'll want to make sure you have a high enough credit score and can afford the $395 annual fee before applying for this credit card to avoid damaging your credit score and increase your chances of acceptance.

How does the Capital One Venture X Rewards Credit Card compare with its competitors?

Capital One Venture X Rewards Credit Card vs. The Platinum Card® from American Express

See Rates & Fees. Terms Apply. On American Express' Secure Website

Verdict: More travel credits and perks for a high annual fee

While more expensive than the Capital One Venture X Rewards Credit Card, The Platinum Card® from American Express is the better choice for those seeking the best luxury travel card. It offers enhanced luxury travel benefits, including access to exclusive American Express Centurion Lounges, up to a $300 Equinox credit (enrollment required), up to $240 entertainment credit (enrollment required), complimentary Hilton Honors and Marriott Bonvoy Elite status (enrollment required) and more.

Beyond these additional benefits, the two cards appear to offer comparable welcome offers and earning rates. However, keep in mind that the points that you earn with the The Platinum Card® from American Express are far more valuable, thanks to the breadth of its travel transfer partners.

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

How does it compare?

  • Annual fee: $695 (worse)
  • Welcome bonus: 100,000 Membership Rewards® Points after you spend $6,000 on purchases on the Card in your first 6 months of Card Membership. (better)
  • Earning rate: 5X Membership Rewards® points on flights booked directly with airlines or with American Express Travel on up to $500,000 on these purchases per calendar year and 5X Membership Rewards® points on prepaid hotels booked with American Express Travel. Terms apply. (similar)
  • Other benefits: Up to $1,419 in annual credits, cell phone protection, Centurion Lounge and Delta Sky Club access, Marriott and Hilton elite status (enrollment required) (better)
  • Terms apply

Capital One Venture X Rewards Credit Card vs. Chase Sapphire Reserve®

On Chase's Secure Website

Verdict: Better travel partners and a more flexible travel credit

While the new Capital One Venture X Rewards Credit Card gives it a run for its money, the Chase Sapphire Reserve® still holds the title of the most flexible luxury travel card. For a higher $550 annual fee, the Chase Sapphire Reserve® offers a broader list of travel transfer partners (including United and Southwest) and a far more flexible $300 travel credit that applies to most travel purchases. You can also redeem your points for travel through Chase Ultimate Rewards® to get a 50% bonus. Plus, you can pair it with other Chase cards to get points in extra spending categories. This flexibility makes the points you earn with the card generally more valuable than Capital One Venture miles.

The Chase Sapphire Reserve® offers many of the same benefits as the Capital One Venture X Rewards Credit Card, so the choice between the two mostly comes down to whether you think the extra flexibility (and extra points via other Chase cards) justifies the higher annual fee.

How does it compare?

  • Annual fee: $550 (worse)
  • Welcome bonus: Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. (similar)
  • Earning rate: 5X total points on air travel and 10X total points on hotels and car rentals when you purchase travel through Chase Ultimate Rewards® immediately after the first $300 is spent on travel purchases annually. Earn 3X points on other travel and dining & 1 point per $1 spent on all other purchases (similar)
  • Other benefits: $300 flexible travel credit, $100 Global Entry/TSA PreCheck credit, Priority Pass membership (similar)

Capital One Venture X Rewards Credit Card vs. Chase Sapphire Preferred® Card

On Chase's Secure Website

Verdict: A lower cost alternative for collecting rewards

If you care less about lounge access and more about collecting points for travel, the Chase Sapphire Preferred® Card is a lower-cost alternative to the Capital One Venture X Rewards Credit Card.

Though it's not considered a premium credit card, the Chase Sapphire Preferred® Card is one of the top travel credit cards on the market. The Chase Sapphire Preferred® Card only charges a $95 annual fee and offers a similarly valuable earning rate: 5X points on travel purchased through Chase Ultimate Rewards®, 3X points on dining and 2X points on all other travel purchases. Like the Chase Sapphire Reserve® card, the points you earn with the Chase Sapphire Preferred® Card are very flexible and valuable, and can be transferred to the same set of travel partners.

It also offers a number of limited time offers, a $50 annual Ultimate Rewards hotel credit, and travel insurance and protections.

How does it compare?

  • Annual fee: $95 (better)
  • Welcome bonus: Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 when you redeem through Chase Ultimate Rewards®. (better)
  • Earning rate: 5X points on travel purchased through Chase Ultimate Rewards®, 3X points on dining and 2X points on all other travel purchases (better)
  • Other benefits: $50 annual hotel credit, 10% annual points boost, complimentary DashPass, points worth 25% more through Chase Travel (worse)

Should you get the Capital One Venture X Rewards Credit Card?

You should get the Capital One Venture X Rewards Credit Card if you're a frequent traveler looking for a moderately priced premium travel rewards card. If you know you'll be able to take advantage of the travel perks and credits offered with this card, the Capital One Venture X Rewards Credit Card can end up saving you lots of money on travel long term.

For travelers who would prefer not to pay such a high annual fee, however, the Chase Sapphire Preferred® Card or another, less expensive travel card might be a better option.

Capital One Venture X Rewards Credit Card FAQs

How many Venture points do you need for a flight?

Points are valued at 1 cent per point, so if your flight costs $200, you'll need 20,000 miles, and so on.

Does Capital One Venture Rewards Credit Card have an annual fee?

Yes, the Capital One Venture Rewards Credit Card has a $95 annual fee.

Will my Capital One card be declined?

Your Capital One card should not be declined if you have enough credit available on your card to make your desired purchase. Capital One uses Visa and Mastercard cards, which are accepted most places that take credit cards throughout the world.

Terms apply to American Express benefits and offers. Visit americanexpress.com to learn more.

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

These responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.

Advertiser Disclosure: The products that appear on this site may be from companies from which ValuePenguin receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). ValuePenguin does not include all financial institutions or all products offered available in the marketplace.

How We Calculate Rewards: ValuePenguin calculates the value of rewards by estimating the dollar value of any points, miles or bonuses earned using the card less any associated annual fees. These estimates here are ValuePenguin's alone, not those of the card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer.

Example of how we calculate the rewards rates: When redeemed for travel through Ultimate Rewards, Chase Sapphire Preferred points are worth $0.0125 each. The card awards 2 points on travel and dining and 1 point on everything else. Therefore, we say the card has a 2.5% rewards rate on dining and travel (2 x $0.0125) and a 1.25% rewards rate on everything else (1 x $0.0125).

On Capital One's Secure Website

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