Capital One Venture X Card, 1 Year Later — Is It Still Worth It?

The Capital One Venture X Rewards Credit Card made a splash on the premium travel rewards market when it was released last year. From a huge welcome offer to must-have travel perks, I quickly put in my application for the card.

But with a renewal coming up and me considering bidding farewell to some of my credit cards, this begs the question: is the Capital One Venture X card still worth it?

My answer: absolutely. Here’s why.

Capital One Venture X Card Benefits

Amid competition from heavyweights such as the Platinum Card^® from American Express and Chase Sapphire Reserve^®, the Capital One Venture X card is one of the most reliable rewards cards in my wallet.

Let’s talk about the card’s benefits and why it has landed in the prime slot in my wallet.

Great Welcome Offer

I was lucky enough to open the Capital One Venture X card when it was offering the unreal 100,000-mile welcome bonus. Unfortunately, that offer is no longer available.

Still, new cardholders of the Capital One Venture X card are being offered:

Terms Apply / Rates & Fees

Capital One Venture X Rewards Credit Card

U.P. Rating 

The rating for this card has been determined by our own industry experts who know the ins and outs of credit card products. Bonuses, rewards as well as rates and fees are all taken into account. Compensation from the issuer does not affect our rating. We only recommend products we either use ourselves or endorse.

The Capital One Venture X card is an excellent option for travelers looking for an all-in-one premium credit card.

Apply Now(at Capital One's secure site)

Capital One Venture X Rewards Credit Card

The Capital One Venture X card is an excellent option for travelers looking for an all-in-one premium credit card.

Welcome Offer

Earn 75,000 bonus miles when you spend $4,000 on purchases in the first 3 months from account opening, equal to $750 in travel.

75,000 miles

UP's Offer Valuation*:

$1,350

Annual Fee

$395

APR

Purchases: 19.99% - 28.99% (Variable)

Credit Recommended

Upgraded Points credit ranges are a variation of FICO^® Score 8, one of many types of credit scores lenders may use when considering your credit card application.

Excellent (740-840)

Why We Like This Card

The Capital One Venture X Rewards Credit Card is the premium Capital One travel rewards card on the block.

Points and miles fans will be surprised to see that the Capital One Venture X card packs quite the punch when it comes to bookings made through Capital One, all while offering the lowest annual fee among premium credit cards.

Depending on your travel goals and preferences, the Capital One Venture X card could very well end up being your go-to card in your wallet.

 

Pros & Cons

Pros

• 10x miles per $1 on hotels and rental cars purchased through Capital One Travel
• 5x miles per $1 on flights and vacation rentals purchased through Capital One Travel
• 2x miles per $1 on all other purchases

Cons

• $395 annual fee
• Does not offer bonus categories for flights or hotel purchases made directly with the airline or hotel group, the preferred booking method for those looking to earn elite status

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Card Highlights

• Earn 75,000 bonus miles when you spend $4,000 on purchases in the first 3 months from account opening, equal to $750 in travel
• Receive a $300 annual credit for bookings through Capital One Travel, where you'll get Capital One's best prices on thousands of trip options
• Get 10,000 bonus miles (equal to $100 towards travel) every year, starting on your first anniversary
• Earn unlimited 10X miles on hotels and rental cars booked through Capital One Travel and 5X miles on flights and vacation rentals booked through Capital One Travel
• Earn unlimited 2X miles on all other purchases
• Enjoy access to 1,300+ lounges worldwide, including Capital One Lounge locations and Priority Pass™ lounges, after enrollment
• Use your Venture X miles to easily cover travel expenses, including flights, hotels, rental cars and more—you can even transfer your miles to your choice of 15+ travel loyalty programs
• Enjoy a $100 experience credit and other premium benefits with every hotel and vacation rental booked from the Premier Collection
• Receive up to a $120 credit for Global Entry or TSA PreCheck^®

Financial Snapshot

• APR: Purchases: 19.99% - 28.99% (Variable)
• Foreign Transaction Fees: None

Rewards Center

Capital One Miles

 

We value the bonus at $1,350 using airline and hotel transfer partners.

For context, this welcome offer is nothing to scoff at. Thanks to Capital One’s numerous transfer partners, those miles can get you incredible redemptions such as:

• Europe in American Airlines Flagship Business or Flagship First for 50,000 miles in business or 62,500 miles in first. It won’t be easy to find availability, but if you do manage to score, the welcome bonus from your card will cover the cost, as Capital One miles transfer to Etihad Guest at a 1:1 ratio.
• Lufthansa first class for 87,000 miles when you use Avianca LifeMiles. While this welcome bonus isn’t enough to cover the redemption fully, it’ll get you close. The Avianca LifeMiles program has a fantastic sweet spot in its award chart that allows you to book one-way tickets between the U.S. and Europe in one of the world’s best first-class cabins for just 87,000 miles each way.
• Air New Zealand’s business class one-way for as few as 75,000 Capital One miles transferred to Air Canada Aeroplan (plus $45 in taxes and fees.) Some Air New Zealand routes, such as Houston (IAH) and San Francisco (SFO), can be as low as 75,000 Capital One miles each way — a steal on a flight that often costs as much as $7,000 one-way!

These are just a few of the many examples Capital One Venture X cardholders can get outsized value with the welcome offer!

Elevated Earnings on Travel Spending

The Capital One Venture X card has one of the best elevated earning rates on travel out there. With the Capital One Venture X card, you’ll earn 10x miles per $1 on hotel and rental car purchases made through Capital One Travel. We value Capital One miles at 1.8 cents per mile, effectively delivering an 18% return on these purchases.

2x Miles per $1 on All Other Purchases

The Capital One Venture X card earns 2 Capital One miles per $1 spent on all other purchases, so it’s quickly become my everyday card.

$300 Annual Travel Credit

One of the most coveted benefits of the Capital One Venture X card is the $300 travel credit for bookings made through Capital One Travel. While $300 may not seem like much, this could take a large chunk out of a flight, hotel, or car rental purchase — or even cover the charge entirely.

This credit can easily be used for flights to the Caribbean, which can cost around $300 to $350 round-trip from certain parts of the U.S. such as New York or Miami. It can also be used at hotel-centric travel destinations like Las Vegas, where you can score rooms at several casino properties for under $50 per night. There are endless ways to use the credit!

Lounge Access

There’s nothing better than relaxing in an airport lounge, sipping a mimosa, and noshing on chicken skewers ahead of a long-haul flight. Capital One Venture X cardholders have access to several lounge networks across the world, and I’ve taken advantage of several in the year since opening my card.

Cardholders of the Capital One Venture X card receive access to the Priority Pass Select network, granting you access to over 1,300+ airport lounges worldwide on 6 continents. This is the same benefit that you’d receive with other premium cards, such as the Chase Sapphire Reserve card or Amex Platinum card. But Capital One has a premium lounge experience of its own with its Capital One Lounges, one of which is already open at Dallas (DFW).

Though only a few additional lounges have been announced so far (Denver, Las Vegas, and Washington-Dulles), it appears Capital One is making a play to rival the quality of the widely known (though massively cramped) American Express Centurion Lounges.

Like Amex’s Centurion Lounge network, the Capital One Lounges are expected to feature restaurant-quality dining and shower suites, both desirable amenities for travelers ahead of long-haul flights. They’re also expected to be massive — DEN is expected to be Capital One’s largest lounge at 11,200 square feet, while IAD will be just under 10,000 square feet, and LAS is expected to be under 7,900 square feet.

A Reasonable Annual Fee

All told, I pay around $2,000 yearly in credit card annual fees. Several of those annual fees come from cards with upwards of $600 renewals. The Capital One Venture X card’s $395 annual fee (rates & fees) is considerably lower than annual fees from several of my other cards, which justifies keeping it around for another year.

Anniversary Bonus Miles

Cardholders of the Capital One Venture X card will earn an anniversary bonus of 10,000 miles every year starting on their first anniversary. Even better: you don’t have to call Capital One to get this offer and no enrollment is required. You’ll simply see the miles deposited into your account after your first anniversary. As we value Capital One miles at 1.8 cents each, this anniversary bonus is worth $180 — which shaves off a big chunk of the annual fee you pay each year.

Global Entry or TSA PreCheck Credit

Similar to other premium travel rewards cards, the Capital One Venture X card features an application fee credit towards Global Entry or TSA PreCheck.

Complimentary Hertz President’s Circle Status

One of the best and most exclusive benefits of the Capital One Venture X card is that it offers Hertz President’s Circle status. This is Hertz Gold Plus Rewards‘ highest elite status tier and typically requires 15 rentals annually (or $3,000 worth of qualifying spending).

By just having the Capital One Venture X card, you’ll get Hertz President’s Circle status. This status comes with the following:

• Guaranteed upgrades of at least 1 class at participating locations
• The ability to choose any vehicle in the President’s Circle section of the Hertz Ultimate Choice lot on the spot for free
• No additional driver fee for a spouse or domestic partner in the U.S.
• A 50% bonus Gold Plus Rewards points on all qualifying rentals
• Expedited vehicle pick-up at participating locations
• No stopping at the counter at over 50 airports
• No need to wait when returning your car with eReturn
• Hertz Valet, a terminal drive-back service at participating locations (up to 4 times per year)
• Dedicated call center line for President’s Circle members only

Other Benefits

The Capital One Venture X also includes a slew of other benefits that you may not use that much but are good to have in any premium rewards credit card:

• Lost luggage reimbursement (covers up to $3,000 per trip for non-New York residents and up to $2,000 per bag for New York residents)
• Purchase protection
• Cell phone insurance
• No foreign transaction fees (rates & fees)
• Rental car insurance
• Travel protections
• Extended warranty coverage

Hot Tip: Check out our complete guide to the benefits of the Capital One Venture X card.

Outsizing the Value Of My Capital One Venture X Card

You’ve seen the benefits of the Capital One Venture X card, but how have I gotten significant value from the card this year?

Singapore Suites

I typically take 1 major trip each year using points and miles I’ve accumulated. In other years, I’ve transferred points to hotel programs to splurge on all-inclusive resorts at some of the world’s most fabulous destinations.

This year, instead of using most of my points on hotel stays, I’ve used them on premium flights. One of them was Singapore Airlines Suites from Frankfurt (FRA) to New York (JFK). Anybody who has flown SQ knows that rates (even one-way) are pricey whether you’re paying in cash or KrisFlyer miles. But I had more than enough miles for this one-way flight thanks to my Capital One Venture X card’s welcome bonus.

I found a date in late July 2022 and immediately transferred 143,500 Capital One miles — which was practically my entire balance — over to Singapore KrisFlyer. Capital One transfers to KrisFlyer at a 1:1 ratio — for every 1 Capital One mile you transfer, you’ll get 1 KrisFlyer mile.

Award space was quickly disappearing, so I wanted to secure the ticket right away. Luckily, Capital One transfers to KrisFlyer almost instantly, and with the correct amount of KrisFlyer miles in my account, I was able to book my ticket.

Singapore Suites remains one of the best flights of my life — and I’ve flown many premium flights on a myriad of airlines. The size of the suite alone — I sat in Suite 1A — rivaled the size of the bathroom in my New York City apartment.

I was able to catch an excellent 3-hour nap on the short hop across the Atlantic, and I woke up more rested than I have on any international flight. A multi-course meal included everything from caviar to braised short rib to a hazelnut meringue pie. Every time I thought I couldn’t eat another bite, more food would somehow appear on my plate.

And the drink selection cannot be overlooked. I had my pick of Dom Perignon before departure and a $200 bottle of Krug after reaching cruising altitude. Coupled with the warm service SQ is known for, this was, in essence, a near-perfect flight.

This flight and my outstanding experience wouldn’t have been possible without my Capital One Venture X card.

While SQ has a transfer partnership with American Express Membership Rewards, Chase Ultimate Rewards, and Citi ThankYou Rewards, among others, I had all but wiped out my MR balance for another trip earlier in the year, and my points and miles balances (across all programs) were pretty low, aside from Capital One. Of the 143,500 points needed for the flight in Singapore Suites, virtually all of them came from my Capital One balance.

Those miles came in handy when booking this flight, as the cost of the FRA-JFK flight would have been an astronomical cash price of around $6,000 one-way. But thank goodness I had enough Capital One miles, as I paid just 143,500 miles (plus $143 in taxes), giving me about 4.2 cents per mile in value.

 $300 Annual Travel Credit

There are other benefits I’ve gotten with the Capital One Venture X card, such as the annual travel credit of $300 on bookings made through Capital One Travel. This came in handy during a trip over the summer to London when I extended my trip and booked a hotel room using my Capital One Venture X card, effectively wiping the charge in the form of my credit.

Capital One Dining

I consider myself a foodie, so I’ve been taking advantage of Capital One Dining‘s new benefit for Capital One cardholders to score exclusive restaurant reservations. This benefit is similar to American Express’s partnership with Resy, but Capital One Dining, notably, allows select cardholders to make reservations that are exclusive to Capital One.

At the moment, Capital One Dining is available in Boston, Chicago, Dallas, Denver, Las Vegas, Los Angeles, Miami, New York, Philadelphia, San Francisco, and Washington, D.C.

Everyday Spending

Finally, thanks to the Capital One Venture X card earning 2x miles per $1 spent on all other purchases, I’ve shifted most of my spending — including my most significant monthly purchases including rent and health insurance — to the card. I’m easily able to earn roughly 7,500 Capital One miles each month this way.

Why I’m Keeping the Card for Another Year

Transfer Partners

A significant factor in deciding to keep my Capital One Venture X card open for another year was the sheer diversity of transfer partners Capital One has.

Capital One has over 20 airline and hotel transfer partners, most of which transfer at a 1:1 ratio (1 mile equals 1 point), and many programs transfer instantly.

Some of the heavy hitters in the points and miles world including Air Canada Aeroplan, British Airways Avios, and Turkish Airlines Miles&Smiles are all Capital One transfer partners. These miles can be used to book great redemptions on flights.

This year, aside from my Singapore Suites flight, I’ve used Capital One miles to book United Airlines Polaris business class from Newark (EWR) to London (LHR), which I did by transferring 60,000 miles from Capital One to Aeroplan. Then there are the redemptions I plan to make, such as business class to Nairobi (NBO) from New York (JFK), which can be booked using 90,000 Aeroplan points transferred from Capital One.

Update:

Aeroplan has increased partner redemption rates. A one-way United business class award ticket from Newark (EWR) to London (LHR) will now cost you 80,000 points one-way.

Capital One Lounges

There are some new perks I’m excited about, such as the opening of more Capital One Lounges in cities I often frequent, such as Washington, D.C. (IAD).

Premier Collection from Capital One

There’s also the launch of the Premier Collection from Capital One, which I’m pretty stoked about. This is Capital One’s response to the Luxury Hotel & Resort Collection from Chase and Fine Hotels & Resorts and The Hotel Collection from American Express and will allow Capital One Venture X cardholders to gain access to additional benefits when booking select luxury hotels.

Premier Collection bookings earn a whopping 10x Capital One miles per $1 spent, plus a slew of other perks such as a $100 experience credit (varies by hotel), complimentary breakfast for 2, free Wi-Fi, plus a room upgrade and early check-in and late checkout (when available).

Some swanky — and pricey — hotels, such as The Ned Nomad in New York City and 1 Hotel South Beach in Miami Beach, are expected to participate in the Premier Collection.

This is yet another example of how Capital One is positioning the Capital One Venture X card to go head-to-head with established travel rewards cards like the Amex Platinum card and Chase Sapphire Reserve card. If the card keeps improving, there’s no doubt it’ll become one of the most popular cards around.

Final Thoughts

I was unsure if I wanted to open a new credit card last year and give up a coveted Chase 5/24 slot. I’m glad I decided to open the Capital One Venture X card, as it’s been my most-used card in 2022. From the transferrable points that got me into one of the world’s best first class flights to smaller benefits like Capital One Dining, this card is worth keeping for years to come!

For Capital One products listed on this page, some of the benefits may be provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply.

Upon enrollment, accessible through the Capital One website or mobile app, eligible cardholders will remain at that status level through the duration of the offer. Please note, enrolling through the normal Hertz Gold Plus Rewards enrollment process (e.g. at Hertz.com) will not automatically detect a cardholder as being eligible for the program and cardholders will not be automatically upgraded to the applicable status tier. Additional terms apply.