The Capital One Venture X Rewards credit card was one of the most anticipated product launches in 2021.
Capital One launched its first premium card in the fall. The card’s $395 annual fee may seem high, but the card offers many travel perks. These include a travel statement credit of up to $300 per year for purchases made through Capital One Travel and lounge access to up four authorized users. This can easily offset the card’s full annual cost.
This card is a step above the Capital One Venture Rewards Credit Card. It charges an annual fee $95, but offers the same benefits as its more expensive sibling.
Venture X is not for everyone. Let’s look a little deeper and see who should apply for this card.
Official application: Capital One Venture X with 100,000 Miles after Spending $10,000 in the First Six Months of Account Opening
(Photo by Wyatt Smith/The points Guy)
Venture X currently offers a 100,000 mile sign-up bonus for those who spend $10,000 within the first six months. The card offers many valuable everyday benefits, including a sign-up bonus of 100,000 miles.
However, the 100,000 miles are worth at most $1,000 after spending $10,000 in the first six month. TPG’s most recent valuations show that their value has increased to $1,850 due to the strong partnership of hotel and airline transfer partners.
Cardholders may also be eligible for $200 in credit towards vacation rental purchases such as Airbnb or Vrbo, if they make their first year of card ownership.
There are also ongoing, notable perks that the card offers:
Earnings: The Venture X gets 10 miles for every dollar spent on hotels, car rentals, and flights via Capital One Travel. It also earns an unlimited amount of 2 miles per $1 on all other purchases.
Statement credit: Get up to $300 annually in statement credit for Capital One Travel bookings
Anniversary bonus: 10,000 bonus mile every account anniversary, beginning on your first anniversary. This bonus is worth at least $100 towards travel.
Lounge Access: Free access for cardholders, authorized user and up to 2 guests per visit at Capital One Lounges.
Authorized users Up to four users may be added for free, and they can also have Capital One Lounge access with two other guests.
TSA Precheck or Global Entry: Get up to $100 in statement credit for either TSA Global Entry or Global Entry.
Who should be awarded Venture X?
(Photo by John Gribben, The Points Guy).
Let’s discuss the reasons why Venture X might be right for you.
You desire simplicity in a premium credit card
Venture X is a premium credit card that is easy to understand. Venture X is a premium card that does not offer a wide range of third-party partners and statement credits, unlike other products.
Venture X actually offers benefits that even novice travelers can benefit from, such as a $300 annual travel credit via the travel portal (hotels and airfare are all eligible). Venture X has a simple earning structure. You earn 2 miles for every dollar on most charges. Capital One Travel offers higher earning rates.
Venture X cardholders also receive 10,000 bonus miles each account anniversary. These miles can be redeemed through the travel portal for $100, or even more if they are transferred to an airline partner or hotel partner.
It’s easy math to see that the annual travel credit and bonus mile each account anniversary will break even on the $395 annual fees. This does not include other perks.
Related to: The most thrilling premium card in years: A review Capital One Venture X
You need access to airport lounges
A drink at Capital One Lounge in DFW. Wyatt Smith/The points Guy
Although more and more travel credit card companies are offering airport lounge access, the Venture X has a few unique features that make it stand out.
Venture X cardholders have access to a growing number of Capital One lounges. Currently, there is only one at Dallas-Fort Worth International Airport. But these lounges will soon be available in Denver (DEN), and Washington Dulles. The lounges will offer Peloton bikes and nap pods, as well as premium dining experiences including a strong grab-and-go selection.
Venture X cardholders can also access over 1,300 Priority Pass locations worldwide. This includes access to Priority Pass dining options in airports as well as traditional lounges.
You need authorized users free of charge
(Photo by Wyatt Smith/The points Guy)
Venture X cardholders have the option to add up to four authorized users at no cost.
This is a great value proposition as authorized users have unlimited access to Capital One Lounges, Priority Pass lounges around the world and can bring up to two people in. Your authorized user will also be eligible for $28-30 off food and drinks at participating airport restaurants
In addition, authorized users get Hertz President’s Circle elite status. Register through Capital One to get the top-tier Hertz status for your authorized user.
You want the best in travel protection
The Visa Infinite Card offers the best travel and trip protection benefits available in the industry.
This includes trip cancellation and interruption insurance as well as trip reimbursement for lost luggage, trip delay reimbursement, and cellphone protection.
Who should not apply for Venture X?
The Venture X is a high-end, impressive card. However, it’s not for everyone. Let’s take an in-depth look.
A robust network of premium lounges is what you need right now
Venture X has a wide range of travel perks. However, there is only one airport lounge that the Venture X operates in.
Capital One may have grand ambitions for its own lounge network but Amex is ahead of the curve with Centurion Lounges at over 14 airports and the Global Lounge Collection which includes Priority Pass, Delta Sky Clubs (when you fly on the same flight as Delta), and many other benefits.
Some flyers who frequent the lounge often might be able to benefit from a card such as The Platinum Card(r), American Express.
You don’t plan to travel a lot or use transfer partners.
Capital One’s constantly improving travel transfer program is a great way to maximize your Venture X card.
Capital One has made significant improvements to its mileage program in the last few years. These include moving from fixed-rate redemptions, to adding hotel and airline transfer partners, and increasing mileage transfer rates. Capital One’s rewards program is now on a level playing field with Chase Ultimate Rewards and American Express Membership Rewards.
There are currently 17 hotel and airline transfer partners. 15 of these transfer at a 1:1 ratio. You can only redeem 1 cent per mile if you don’t have transfer partners.
You can redeem sweet spots by using transfer partners. These include economy flights to Hawaii for 7,500 Capital One Miles by transferring to Turkish Miles&Smiles. Redeem for United flights with United Business Class, or business-class flights from South America for 50,000 Capital One Miles transferred to TAP.
For those looking for a premium credit card that is easy to understand, the Capital One Venture X is a great choice. There are better options for those who want to have better lounge access and don’t need the flexibility offered by hotel transfer partners or airline partner.
Register here to get Capital One Venture X. Earn 100,000 miles for spending $10,000 within the first six months.
Featured image by The Points Guy