Premium credit cards are nothing new. Both Chase and American Express have offered it for years now. Citi has also offered a premium card for several years, although it is no longer available to new applicants.
However, Capital One’s entry into the luxury rewards credit card arena is a relative newcomer when compared to other banks’ products. The Capital One Venture X Rewards Credit Card Arrived last year for $395 in annual fees – the full $300 per year more than the fees charged on most other issuer credit cards.
This caused many Capital One clients to fall for it when they asked, “Is it worth it?” Does this card really offer the additional $300 benefits over those other cards? Let’s take a look at what you get for $395 a year to see if the fee is worth it on a Venture X card.
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When checking whether the card is worth it or not, let’s start with the introductory bonus offer. This will determine a large portion of the value you get from the credit card during the first year.
According to TPG estimates, these miles are worth 1.85 cents a piece. This makes this bonus equal to $1,387.50.
The value of these miles has increased in recent years, thanks to Capital One adding more transfer partners (there are now 17 in total) and improving the transfer percentage on multiple partners. There are many ways to redeem your miles for a high value. (See our guide to redeeming Capital One miles for the maximum value.)
It’s worth noting that Capital One can be stingy when it comes to approving credit card applications. You can only get two personal Capital One credit cards at any one time. Additionally, the bank has been known to be very sensitive about the information on your credit report, including the number of recent serious inquiries, new accounts, and total accounts with other issuers. Understand that exceptions do exist, but keep this information in mind when deciding whether to apply for a Venture X card.
RELATED: Our Complete Guide to Credit Card Application Limitations
$300 annual travel credit
Venture X cardholders earn up to $300 in travel credits annually on bookings made through Capital One Travel Gateway.
The benefit of the $300 annual statement credit with Capital One Travel is simple. Each year you receive up to $300 in statement balances for purchases made through Capital One Travel, including hotel reservations, car rentals, and tickets.
Related: How Capital One Venture X Travel Credit Can Save You $300 On Your Summer Trip
However, the credit does not apply to travel purchases made through any other channel. While that makes it more restrictive than the $300 annual travel credit available with Chase Sapphire Reserve®, it’s still relatively easy to use and pretty much offsets the $395 card fee — as long as you actually take advantage of it.
There are some downsides to using a third party booking service; In particular, the elite franchises of hotels and car rentals are usually not recognized. However, Capital One has made great strides in improving the travel booking experience, recently investing in the Hopper booking platform and adding customer-friendly features such as price prediction and best rate guarantee. The best uses of this credit are to book stays at boutique hotels or those where benefits status does not matter to you, as well as flights or rental car reservations with Hertz.
Anniversary Bonus Miles
Venture X cardholders have a second annual benefit, which is 10,000 bonus miles on Anniversary of the account. This means that you receive these miles one year after you open your account and every subsequent year on that date, not at the start of a new year each January.
According to TPG’s latest assessment, 10,000 Capital One miles is worth $185, thanks to potential value from airlines and hotel transportation partners. However, if you want to redeem 10,000 fixed value miles on travel purchases, you will “only” get $100 in value, which is still very good.
Combined with the $300 Capital One Travel Portal Statement Credit, cardholders look for an easy $400 in value from their card each year — more than offsetting its $395 annual fee. During the first year, you will get more value from receiving the welcome bonus points.
See also: Our full review of Capital One Venture X
Venture X card holders can access three types of lounges: Priority Pass, Plaza Premium, and Capital One private lounges.
Priority Pass includes more than 1,300 lounges worldwide, and Priority Pass Select membership included in the Venture X Card allows you and two complimentary guests to visit these lounges without paying additional entry fees. Unlike restrictions imposed on American Express cardholders, Venture X cardholders can visit Priority Pass restaurants available at some airports. This can give you a free meal while you wait for your flight, rather than just snacks while you’re off.
Related: Skip the lounge and get free food at 29 US restaurants that are part of Priority Pass
In addition, Venture X card holders have access to the Plaza Premium and Capital One lounges, as well as two complimentary guests. Currently, only one Capital One lounge is open at Dallas-Fort Worth International Airport (DFW) but more lounges are scheduled to open in early 2023. These will be at Denver International Airport (DEN) and Dulles-Washington International Airport (IAD) ).
Car Rental Privileges
The The Capital One Venture X Rewards credit card has two major rental car benefits: Earn 10 miles per dollar on all car rentals booked through the Capital One Travel portal (instead of 2 miles per dollar when booking elsewhere) and First Class President’s Circle Hertz status. .
You will need to register for this feature with Hertz first. President’s Circle status offers perks like guaranteed upgrades, the widest selection of cars when you start renting and a free additional driver (usually $13.50 per day, max. $189 during rental).
Most importantly, you can skip the line and head straight to your car at most major airports, which can save you a lot of time, especially during busy travel times. You can also use this to match status with other programs, and get elite status with these rewards programs as well.
RELATED: Car rental perks piled up with Hertz and Venture X
Premium perks for up to 4 free certified users
While many credit cards reserve their best perks only for the primary account holder, this is not the case with Venture X card holders can add up to four free authorized users to the account. These users can independently obtain the following privileges, all without paying a fee:
Related: You and 14 friends can get into the airport lounge with this card
It is important to note that some privileges are still reserved for the primary cardholder only. These bonuses include the 10,000 miles that are deposited into that person’s account on the account’s anniversary; Authorized users will not receive their own bonus miles allowance. Verified users also don’t get their own $300 travel credit each year; However, purchases by Authorized Users may be offset through the Primary Card Member’s Travel Credit. Finally, approved users will not receive payment of their application fee for Global Entry or TSA PreCheck (explained in the next section); This feature is shared across all account members.
Related: 8 Frequently Asked Questions About The Capital One Venture X Card
When analyzing these benefits for authorized users, compare them to the privileges offered to authorized users on other premium travel cards and the fees associated with them. for comparison, Platinum® Card from American Express It charges $175 for three authorized users (see pricing and fees), and Chase Sapphire Reserve charges $75 for each authorized user. This makes Venture X an affordable option for couples or families.
Cardholders can also access a number of travel and shopping protections when paying with their card:
- Trip cancellation and interruption insurance: Up to $2,000 per person for you and your immediate family for non-refundable prepaid tickets. *
- Flight delay compensation: Up to $500 per person to cover reasonable expenses such as hotel rooms, food, toiletries or clothing when your flight is delayed overnight, six hours or more.
- Compensation for lost baggage: Up to $3,000 per covered flight if your bags are damaged or lost from the airline. *
- Mobile phone protection: By using the card to pay your monthly wireless bill, you qualify for coverage of up to $800 per claim for a maximum of two claims and $1,600 per 12 months. A deductible of $50 is applied each time.
- Basic car rental insurance: Up to $75,000 in damages for a rental car collision or theft. *
- Purchase, Extended Warranty and Return Protection: Up to $10,000 per claim and $50,000 per account on purchases; Extension of warranties for an additional year; It returns up to $300 per item and $1,000 per account. *
* Benefits available on Visa Infinite cards.
Related: 6 Things To Do When You Acquire Capital One Venture X
In short, what are the perks available to Venture X cardholders?
Cardholders can get up to $300 per year in travel credits and $100 – $185 in annual reward miles each year. In addition, they get credit once every four years for Global Entry or TSA PreCheck (we’ll divide $100 by four and call that $25 per year).
These benefits total at least $425 each year, and add up to more than $395 in annual fees on Venture X. This does not take into account intangible assets, such as the value your approved users may generate, and free food that you consume on Venture X. Lounges or the money you save through Purchase Protection. Of course, these benefits don’t offer value unless you use them.
So, is Venture X worth its $395 annual fee? Those who use the benefits of the card will surely believe in this. Those who don’t travel often may have a hard time justifying the annual fee after the first year.
Official application link: Capital One Venture X Rewards Credit Card With a welcome bonus of 75,000 miles after you spend $4,000 on the card within three months of account opening.
For Amex Platinum rates and fees, click here.
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