New

Is The Capital One Venture X Worth The $395 Annual Fee?

Editor’s note: This is a recurring post, regularly updated with new information and offers.

Since its launch in 2021, the Capital One Venture X Rewards Credit Card has disrupted the travel credit card industry and challenged titans like Chase and American Express. With its $395 annual fee, the card is priced lower than lots of its competitors in the premium credit card market.

Three years later, does the Venture X still offer enough high-quality benefits to keep it open for another year? Let’s look at what you get as a Venture X cardholder and whether that’s enough to keep its place in your wallet.

Welcome offer

New applicants for the Venture X can earn 75,000 bonus miles after spending $4,000 on the card within the first three months from account opening.

According to TPG’s September 2024 valuations, these miles are worth 1.85 cents apiece, making this bonus worth $1,388.

THE POINTS GUY

The value of these miles has increased in recent years, thanks to Capital One adding more transfer partners and improving the transfer ratio on multiple partners. There are several ways to redeem your miles for high value.

It’s worth noting that Capital One can be picky when approving credit card applications; the bank is known for being very sensitive about the information on your credit report, including your number of recent hard inquiries, new accounts and overall accounts with other issuers.

Annual travel credit

Venture X cardholders receive $300 in annual credits on bookings made through Capital One Travel.

The way the $300 annual credit perk works on this card is simple. Every account year, you receive $300 in credits toward purchases made through Capital One Travel, including hotel bookings, car rentals and airfare. These credits are applied at checkout rather than as statement credits for previous purchases.

However, the credit is not applicable to travel purchases made through any other channel. While that makes it more restrictive than the annual $300 travel credit available with the Chase Sapphire Reserve®, it is still relatively easy to use, and it substantially offsets the card’s $395 fee — as long as you actually take advantage of it.

CAPITAL ONE

There are some downsides to using a third-party booking service; notably, elite perks are usually not recognized for hotels and rental cars.

However, Capital One has made significant strides in improving the travel booking experience, including investing in Hopper, a booking platform, and adding customer-friendly features like price-drop prediction and a best-price guarantee.

Anniversary bonus miles

Venture X cardholders also get access to a second annual benefit: 10,000 bonus miles on your account anniversary. This means you receive these miles one year after opening your account and each subsequent year on that date, not at the start of a new calendar year each January.

According to TPG’s September 2024 valuations, 10,000 Capital One miles are worth $185 when using Capital One’s airline and hotel transfer partners. If you redeem the anniversary miles through Capital One Travel, you’ll get a more modest $100 in value.

Combined with the $300 Capital One Travel credit, cardholders are looking at a minimum of $400 in value from their card each year.

Lounge access

Venture X cardholders have access to three types of lounges: Priority Pass, Plaza Premium and Capital One’s own lounges for themselves and up to two guests.

KYLE OLSEN/THE POINTS GUY

Most notably, having the Venture X is the easiest way to get unlimited access to Capital One’s lounges. Currently, there are three locations: Dallas Fort Worth International Airport, Dulles International Airport and Denver International Airport.

Plans for future locations in Las Vegas-Harry Reid International Airport (LAS) and John F. Kennedy International Airport (JFK) have been announced, but we don’t know the opening dates yet.

Cardholders also get unlimited access to lounges in Capital One’s partner network, including more than 1,300 Priority Pass lounges and over 100 Plaza Premium lounges.

A day pass to a Capital One lounge ordinarily costs $65, so this perk’s value quickly adds up and can help justify the card’s annual fee, especially for frequent jetsetters.

Car rental perks

The Venture X has two key benefits related to rental cars: earning 10 miles per dollar spent on all car rentals booked through the Capital One Travel portal (instead of 2 miles per dollar spent when booked elsewhere) and top-tier Hertz President’s Circle status*.

SCOTT MAYEROWITZ/THE POINTS GUY

You’ll need to register for this perk with Hertz first. President’s Circle status offers perks like guaranteed upgrades, the widest choice of cars when starting your rental and a free additional driver (which typically costs $13.50 per day, up to a maximum of $189 during your rental).

*Upon enrollment, accessible through the Capital One website or mobile app, eligible cardholders will remain at the upgraded status level through December 31, 2024. 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.

Access to luxury hotel programs

Venture X cardholders can access the Capital One Premier Collection and Lifestyle Collection boutique and luxury hotel programs. Cardholders can pay cash or redeem their miles at a rate of 1 cent each to book exclusive properties and receive perks along the way.

Benefits at Premier Collection properties include room upgrades when available, free Wi-Fi during your stay, free breakfast each day for two people and a $100 on-property credit for things like spa visits or dinner at the hotel’s restaurant.

Lifestyle Collection properties are mostly boutique properties with benefits such as a $50 experience credit to use toward rooftop drinks, signature hotel restaurants, room service or other activities, complimentary Wi-Fi, room upgrades (when available) and early check-in and late checkout, when available.

And since these bookings are made through Capital One Travel, cardholders will earn 10 miles per dollar spent when paying for their stay with the Venture X card.

Excellent authorized user perks

While many credit cards reserve their best perks only for the primary account holder, the Venture X does not.

Cardholders can have multiple free authorized users on their accounts. These users can receive the following perks in their own right, all without paying a fee:

Access to Capital One lounges and Plaza Premium lounges by simply showing their Venture X card — including the ability to bring two guests of their own
Priority Pass Select membership once they enroll online — including the ability to bring guests traveling with them
Purchase and travel protections, such as trip cancellation/interruption insurance, trip delay reimbursement and cellphone protection

LEOPATRIZI/GETTY IMAGES

When analyzing these benefits for authorized users, compare them to the perks offered to authorized users on other premium travel cards and the associated fees.

For comparison, The Platinum Card® from American Express charges $195 for each additional Amex Platinum card (see rates and fees), and the Chase Sapphire Reserve charges $75 per authorized user. This makes the Venture X a much more affordable option for couples or families, so I definitely recommend it over its competition if authorized users are a necessity for you.

Other perks

Venture X cardholders can receive reimbursement for their application fee to TSA PreCheck or Global Entry. This benefit is available once every four years and is worth up to $120 in statement credits.

10,000 HOURS/GETTY IMAGES

Cardholders also have access to several travel and shopping protections when paying with their card:

Trip cancellation and interruption insurance
Trip delay reimbursement: Up to $500 per person for reasonable expenses like hotel rooms, food, toiletries or clothes when your flight is delayed overnight or by six hours or more
Lost luggage reimbursement
Cellphone protection
Primary rental car insurance
Extended warranty and return protection

Bottom line

The $300 annual credit and 10,000 anniversary bonus miles provide excellent value each year and more than justify the card’s $395 annual fee. And this doesn’t take into account the intangibles, like the value your authorized users might achieve, the free food you consume at lounges or the money you save via purchase protections.

Of course, those benefits only provide value if you’re using them. If you know you won’t be able to maximize the benefits of the Venture X, consider choosing a different card.

To learn more, check out our full review of the Capital One Venture X.

Learn more: Capital One Venture X

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

For rates and fees of the Amex Platinum, click here.

Back to Listing

credit: