Why I Closed My Venture X Business for the Amex Business Platinum Card

When you hold multiple premium business cards, annual fees add up fast. At one point, I found myself paying for 2 high-end cards — the Capital One Venture X Business Card*×Information collected independently. Not reviewed by Capital One. and The Business Platinum Card^® from American Express — and realized it was time to cut back.

Rather than continue paying four figures in annual fees, I considered which card best fits my needs as a business owner.

While both cards have strong value propositions, my final decision was based on various attributes, including lounge access, credits I use, and how the overall perks align with my travel and spending patterns. Here’s how I got there.

Capital One Venture X Business Card vs. Amex Business Platinum Card

The Capital One Venture X Business card has been one of my favorite cards for a while. It earns straightforward 2x miles on every purchase, offers flexible redemptions, and has access to Capital One Lounges and Landings. For most small-business owners, that combo is more than enough.

Not only that, there’s a massive welcome offer for new applicants:

• Earn 150,000 bonus miles once you spend $30,000 in the first 3 months.

I put all of my non-bonus spending on this card, such as home improvement store runs and department store purchases, because earning 2x points across the board is better than settling for 1x on a different card.

Capital One Venture X Business 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 Business card offers at least 2x miles on all purchases, and comes packed with premium perks.

Capital One Venture X Business Card

The Capital One Venture X Business card offers at least 2x miles on all purchases, and comes packed with premium perks.

Welcome Offer

Earn 150,000 bonus miles once you spend $30,000 in the first 3 months from account opening.

150,000 miles

UP's Offer Valuation*:

Up to $2,700

Annual Fee

$395

APR

25.74% (Variable)

Why We Like This Card

The Capital One Venture X Business card is a great all-around premium rewards card that helps you rack up miles on all of your business expenses.

From 2x miles per dollar on all purchases, airport lounge access, an annual travel credit, complimentary employee cards, and more, there is plenty to love about the Capital One Venture X Business card.

Pros & Cons

Pros

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

Cons

• $395 annual fee
• 10x and 5x bonus categories are limited to Capital One Business Travel

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Card Highlights

• Earn 150,000 bonus miles once you spend $30,000 in the first 3 months from account opening
• Earn unlimited 2X miles on every purchase, everywhere—with no limits or category restrictions
• Earn 10X miles on hotels and rental cars and 5X miles on flights and vacation rentals booked through Capital One Business Travel
• With no preset spending limit, enjoy big purchasing power that adapts so you can spend more and earn more rewards
• Empower your teams to make business purchases while earning rewards on their transactions, with free employee and virtual cards. Plus, automatically sync your transaction data with your accounting software and pay your vendors with ease
• Redeem your miles on flights, hotels and more. Plus, transfer your miles to any of the 15+ travel loyalty programs
• Every year, you'll get 10,000 bonus miles after your account anniversary date. Plus, receive an annual $300 credit for bookings made through Capital One Business Travel
• Receive up to a $120 credit for Global Entry or TSA PreCheck^®. Enjoy access to 1,300+ airport lounges worldwide, including Capital One Lounge and Landing locations and participating Priority Pass™ lounges, after enrollment
• Enjoy a $100 experience credit and other premium benefits with every hotel and vacation rental booked from the Premier Collection
• Your card is designed to be paid in full. However, you have the option to carry over a portion of your balance with interest if needed. Pay at least the minimum payment amount by your payment due date, otherwise you'll be charged a 2.99% late fee
• Top rated mobile app

Financial Snapshot

• APR: 25.74% (Variable)
• Foreign Transaction Fees: None

Rewards Center

Capital One Miles

However, as my business travel increased, I realized I needed a card with more than just strong rewards earning that offered benefits supporting the way I travel. That’s where the Amex Business Platinum card comes in. Between the up to $600 prepaid hotel credits I easily use, the automatic Marriott and Hilton elite status upon enrollment, and access to thousands of lounges, I get a ton of value from this card annually.

NEW OFFER

Terms Apply / Rates & Fees

The Business Platinum Card^® from American Express

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.

This card is ideal for business travelers who enjoy luxury travel and are looking for a card loaded with benefits!

Apply Now(at Amex's secure site)

The Business Platinum Card^® from American Express

This card is ideal for business travelers who enjoy luxury travel and are looking for a card loaded with benefits!

Welcome Offer

As High As 300,000 points. Find Out Your Offer. You may be eligible for as high as 300,000 Membership Rewards^® Points after spending $20,000 in eligible purchases on your new Card in your first 3 months of Membership. Welcome offers vary and you may not be eligible for an offer.

As High As 300,000 Points. Find Out Your Offer.

UP's Offer Valuation*:

Up to $6,600

Annual Fee

$895

APR

17.74% - 28.49% 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.

Good to Excellent

Why We Like This Card

The Amex Business Platinum Card is a premium travel rewards card tailored for business owners who are frequent travelers with high annual expenses.

When you factor in the large number of perks that the card offers, like the best airport lounge access at over 1,550 lounges and numerous annual credits, it’s easy to see why this card is a top option for frequent traveling business owners.

Pros & Cons

Pros

• Earn 5x Membership Rewards points per $1 on eligible travel purchases like flights, prepaid hotels, and prepaid short-term rentals booked through AmexTravel.com
• Access to over 1,550 worldwide airport lounges as part of the American Express Global Lounge Collection
• Earn 2x Membership Rewards points on eligible purchases in key business categories, as well as on purchases of $5,000 or more (on up to $2 million per calendar year)

Cons

• High annual fee of $895 (rates & fees)
• Airline fee credit does not cover airfare, only incidentals like checked bags

Read Full Review

Card Highlights

• As High As 300,000 points. Find Out Your Offer. You may be eligible for as high as 300,000 Membership Rewards^® Points after spending $20,000 in eligible purchases on your new Card in your first 3 months of Membership. Welcome offers vary and you may not be eligible for an offer. Learn more.
• The American Express Global Lounge Collection^® can provide an escape at the airport. With complimentary access to more than 1,550 airport lounges across 140 countries and counting, you have more airport lounge options than any other credit card company on the market as of 01/2026.
• See how you can unlock over $4,000 in business and travel value annually after meeting qualifying spend thresholds on the Business Platinum Card. Terms apply.
• Get up to $300 in statement credits semi-annually for up to a total of $600 in statement credits per calendar year on prepaid Fine Hotels + Resorts^® or The Hotel Collection bookings through American Express Travel using the Business Platinum Card^®. The Hotel Collection requires a minimum two-night stay.
• No Preset Spending Limit: The spending limit on the Business Platinum Card is flexible, so unlike a traditional credit card with a set limit, the amount you can spend adapts based on factors such as your purchase, payment and credit history.
• Make the Business Platinum Card^® work even harder for you. Hilton for Business members get up to $200 back per calendar year when you make an eligible purchase at Hilton properties across the globe. Gift cards are not an eligible purchase. Benefit enrollment required.
• Fly like a pro with a $200 Airline Fee Credit. Select one qualifying airline to receive up to $200 back per year on baggage fees and other incidentals.
• Use the Business Platinum Card and get up to $219 back per calendar year on your CLEAR+ Membership (subject to auto-renewal).
• Maximize your time away with Fine Hotels + Resorts through Amex Travel™.
• Enroll and get up to $150 in statement credits on U.S purchases directly with Dell Technologies on the Business Platinum Card and an additional $1,000 statement credit after you spend $5,000 or more on that same Card per calendar year.
• Enroll and get up to $300 in statement credits per calendar year on U.S. purchases of ChatGPT Business* on the Business Platinum Card. *Subject to auto-renewal.
• Enroll and get a $250 statement credit after you spend $600 or more on U.S. purchases directly with Adobe per calendar year on the Business Platinum Card.
• Get up to $90 in statement credits quarterly for purchases with Indeed on the Business Platinum Card. That’s up to $360 back per year. Enrollment required.
• Get up to $10 in statement credits per month for wireless telephone service purchases made directly with a wireless provider in the U.S. on the Business Platinum Card. That’s up to $120 back per year. Enrollment required.
• 2X points on purchases at U.S. construction material & hardware suppliers, electronic goods retailers and software & cloud system providers, and shipping providers, as well as on each eligible purchase of $5,000 or more, up to $2 million of these purchases per calendar year. Purchases eligible for multiple additional point bonuses will only receive the highest eligible bonus.
• 5X points on flights and prepaid hotels on AmexTravel.com
• 1X points on other eligible purchases
• Terms Apply.

Financial Snapshot

• APR: 17.74% - 28.49% Variable
• Foreign Transaction Fees: None

Rewards Center

American Express Membership Rewards

While each card has unique perks, I wasn’t fully maximizing the benefits of both. With an annual fee of $395 on the Capital One Venture X Business card*×Information collected independently. Not reviewed by Capital One. and $895 annual fee (rates & fees) on the Amex Business Platinum card, I couldn’t justify paying both.

I had to decide between the simplicity of the Capital One Venture X Business card* and the Amex Business Platinum card and its wide range of benefits.

Amex Business Platinum Earns 2x Points on Large Purchases

When American Express refreshed the Amex Business Platinum card earlier this year, one of the most significant updates was its 2x earning rate on eligible business purchases, which immediately caught my attention.

Previously, the card earned 1.5x points on purchases of $5,000 or more and eligible business categories, up to $2 million per year. That rate has increased to 2x Membership Rewards points on these select purchases, making it far more rewarding for high spenders:

• U.S. construction material and hardware suppliers
• Electronic goods retailers and software and cloud system providers
• Shipping providers
• Eligible purchases of $5,000 or more

This improvement is a game-changer for anyone with large recurring expenses, such as paying taxes with a credit card. Even with the 2.89% payment fee to use a card for taxes, the math consistently works in my favor because I typically redeem Amex points for over 3 cents each.

This update also leveled the playing field with the Capital One Venture X Business card*×Information collected independently. Not reviewed by Capital One., which earns 2x miles on all purchases.

Not only that, but Capital One has occasionally flagged my bigger charges, which isn’t ideal when managing time-sensitive expenses. The updated earning rate didn’t seal the deal but helped tip the scales in Amex’s favor.

Why I Prefer Amex Business Platinum Card’s Lounge Access

I genuinely enjoy Capital One Lounges and Landings. They’re sleek, comfortable, and thoughtfully designed. But the network is still limited, and I need lounge access that’s as flexible as my travel plans.

That’s where the Amex Business Platinum card pulled ahead. Its Global Lounge Collection covers a far wider footprint, including Centurion Lounges, Delta Sky Clubs, Priority Pass™ locations, and select partner lounges worldwide. Make sure you explore your American Express account and enroll in the applicable lounge benefits.

Whether flying out of my hometown airports of Fort Lauderdale (FLL) or Miami (MIA), or somewhere else in the world, I can almost always count on an American Express lounge to unwind in before a flight.

Capital One is building something great with its ever-growing lounge network, but for now, Amex offers a broader and more consistent network, which makes all the difference in how I travel.

Comparing Benefits

Once I committed to keeping just 1 premium card, I looked carefully at how each perk fit into my real-world spending. The Amex Business Platinum card’s refreshed perks make a difference for me.

This year, Amex refreshed and elevated the following perks and earning rates:

• 2x Membership Rewards points on eligible purchases of $5,000 or more (up to $2 million per year)
• Up to $600 annual hotel credit, split into 2 up-to-$300 statement credits when booking through AmexTravel.com
• Access to Fine Hotels + Resorts or the Hotel Collection, both of which come with perks like upgrades and late checkout (2-night minimum for the Hotel Collection)
• Various travel protections and business-focused credits that feel more relevant to my day-to-day operations

I travel often enough and book enough hotel stays that those semiannual $300 credits will be used.

Between that and the lounge access, I’m already close to offsetting the $895 annual fee.

The Capital One Venture X Business card*×Information collected independently. Not reviewed by Capital One. still offers solid value, but the Amex Business Platinum card aligns better with how I travel and where I benefit most.

Final Thoughts

Choosing between 2 strong business cards wasn’t easy, as both bring a lot to the table. But I didn’t want to juggle 2 premium annual fees when 1 card covered what I use.

The Amex Business Platinum card makes more sense for me. I travel often enough to take full advantage of its broad lounge network, the hotel credits are easy for me to use, and the refreshed 2x earning rate on large purchases gives me a nice return. And knowing my large transactions will clear without issue gives me peace of mind.

For me, it wasn’t about chasing every perk but keeping the card that consistently adds value to how I travel and run my business.