I recently reached the one-year mark and paid my annual fee for the Capital One Venture X card. I applied for the card when it was new to the market. My original sign-up bonus for the card was around 100,000 miles, worth approximately $1,800, according to the Points Guy’s evaluations. The current bonus is less than it was, now at 75,000 miles after $4,000 of spending in the first three months after approval. Although not as valuable as the initial offering, the current offering is still worthwhile at over $1,300 in total value.
The Venture X card is possibly the most valuable of the “premium card” offerings currently available from major card issuers, including the American Express Platinum Card and the Chase Sapphire Reserve Card. It has been trendy over the past year. However, there have been a few kinks in Capital One’s system (at one point, their transfer partners were unavailable for two weeks). They have downgraded the benefits slightly (they removed the restaurant credit from the card’s Priority Pass membership). Still, Venture X remains a major contender for the best premium travel card. One significant benefit Venture X has over its competition is a lower annual fee of $395 vs. $695 for the Platinum and $550 for the Sapphire Reserve.
$395 is still a significant annual fee but is entirely offset by yearly credits. The card is a net value card as it puts money in my pocket if I use the credits strategically. First, there is a $300 annual travel credit for travel booked through Capital One travel. While I’m not a big fan of travel portals, I book at least $300 through Capital One, bringing my annual fee down to only $95, which is the same price as many less valuable travel cards. After the cardholder has held the card for one year and pays the annual fee, Capital One credits their account with 10,000 bonus miles. This benefit recently happened to me, and I saw the miles about a month after my card renewal date. According to the Point’s Guy, Capital One miles are worth 1.85 cents each, resulting in a valuation of $185 for this annual bonus. In the end, Capital One essentially pays the cardholder $90 to have the card through these notable credits.
The Venture X card has the simplest multipliers of any credit card: 2x points on every purchase. While this certainly falls short of its competitor in specific spending categories, particularly airfare and dining, the extra point earned on everyday spending can more than compensate. I alternate between the Venture X and the American Express Blue Business Plus for non-category spending, making 2x points with both cards. In this way, the Venture X is a perfect companion to other cards that earn higher multipliers in commonly used categories like dining, gas, and travel.
The card’s benefits are exceptional, as expected of a flagship travel card with a high annual fee. It comes with a Global Entry/TSA Precheck credit and has no foreign transaction fees. Authorized users are free to add, and each receives their Priority Pass membership and access to the luxurious Capital One lounges, which rival the American Express Centurion lounges and provide better access to Venture X cardholders who can bring in guests for free (American Express recently removed the free guest benefits). Regarding rental car coverage, Venture X again surpasses the American Express Platinum card by offering Primary rental car coverage, which pays for damages before the cardholders’ personal insurance rather than after, as is the case with Secondary insurance provided by the Platinum card.
Overall, I consider the Capital One Venture X one of the best premium travel cards on the market. The $395 compensates through credits, the sign-up bonus is generous, the multiplier is simple, but above average for general spending, and the benefits are excellent. For these reasons, Venture X is an absolute “keeper card” in my wallet that I intend to renew year after year.
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