Capital One Says “Extension” for President’s Circle Benefit is Possible

This morning, there was big news in the world of credit cards: a popular travel credit card will no longer offer Hertz’s top-level President’s Circle perk after the end of the year.

But that’s not all to the story — let’s take a look at the news and what happens next.

Possible Devaluation of Capital One’s Premium Card

Capital One’s contract with Hertz is slated to end at the end of the year, and the Capital One Venture X Rewards Credit Card President’s Circle may be going away. As Thrifty Traveler reported, the language to the terms and conditions of the card said the benefit would end on December 31, 2024.

Upgraded Points reached out to Capital One for clarification, and this is what the issuer had to say.

“Our current Hertz benefit contract is slated to end on December 31, 2024, as disclosed since the launch of Venture X,” a spokesperson for Capital One said. “We are continuing to find ways to offer unique experiences to cardholders that they are passionate about and can share with friends and family.”

“We are currently in the process of evaluating the benefit, including the potential extension of the benefit, and will be in touch when there are updates,” the spokesperson continued.

Indeed, language on Capital One’s website implies that the benefit would always end at the end of 2024. It’s unclear whether Venture X cardholders will be downgraded to Five Star or see their membership lapse altogether.

Hertz offers 2 status tiers: Five Star and President’s Circle.

As a reminder, the Capital One Venture X card comes with the Hertz President’s Circle as a benefit for signing up for the card. Earning that status without the card requires 15 or more rentals or at least $3,000 spent in a 12-month period.

With President’s Circle, you’ll receive all of the benefits of Five Star Plus, plus the following:

• 1.5x points for every $1 spent
• 24-hour advance reservation airport guarantee
• Guaranteed one-class upgrade
• 50% bonus on Gold Plus Rewards Points on all qualified rentals
• After each of your 30th and 40th rentals, a one-rental-free upgrade to any available car on the lot
• After each of your 15th, 20th, and 40th rentals, a one-rental Hertz Valet terminal drive back at select airport locations

Final Thoughts

Capital One may remove the President’s Circle benefit from the Capital One Venture X card at the end of the year, which would be disappointing news for cardholders. However, the issuer says a “potential extension” of the program is possible.

But, for what it’s worth, all of its other travel benefits appear unchanged. You’ll still receive Priority Pass lounge access (though Capital One axed non-lounge benefits back in 2022), Global Entry and TSA PreCheck credits, and a $300 annual travel credit. Despite the devaluation, these benefits make the card still worth the $395 annual fee (rates & fees), given other premium cards have yearly fees topping $500 or more.