In 2021, Capital One made its entrance into the luxury travel credit card market with the Capital One Venture X Rewards Credit Card. This premium travel card offers a more affordable annual fee compared to its competitors while still providing valuable travel benefits and protections. Plus, it allows cardholders to easily earn rewards on both travel and everyday purchases.

The Capital One Venture X comes with an annual fee of $395. While this is significantly lower than many similar cards, it’s an important factor to consider when selecting a travel card. This guide to Capital One Venture X benefits will help you understand what the card offers and assist you in deciding if it’s the right choice for you.

Welcome offer

New cardholders can earn a welcome bonus of 75,000 miles—equivalent to $750 when used for travel purchases—after spending $4,000 within the first three months of opening their account.

Looking to maximize that welcome bonus? You can transfer your miles to one of Capital One’s travel partners, which can increase their value to an average of 1.7 cents, according to Bankrate’s recent valuations. This means your welcome bonus could be worth approximately $1,275 if you transfer your miles to a high-value partner.

The Capital One Venture X offers:

  • 10X miles on hotels and rental cars booked through Capital One Travel
  • 5X miles on flights booked through Capital One Travel
  • 2X miles on all other purchases

This straightforward rewards structure emphasizes travel spending through the Capital One Travel site.

However, the card isn’t just beneficial for travel purchases. With 2X miles on all other purchases, it’s also an excellent choice for everyday spending, helping you achieve your award travel goals.

The best way to redeem your Capital One Venture X miles is for various types of travel. You can use your miles at a rate of 1 cent per mile as a statement credit for eligible travel purchases made in the past 90 days or redeem them for eligible purchases through the Capital One Travel portal.

To get the most value from your rewards, consider transferring them to one of Capital One’s 17 travel partners, such as Air Canada, Flying Blue, or Virgin Red. This method offers the highest value, according to Bankrate’s valuations, but it does require more effort than simply using miles for statement credit.

You can also redeem rewards for statement credits, checks, gift cards, and more, but keep in mind that these options typically provide less value compared to travel redemptions.

Capital One rewards your loyalty with 10,000 bonus miles each year on your account anniversary, worth $100 toward travel. This benefit begins on your first anniversary and continues as long as your Venture X account remains active and in good standing. It’s a straightforward way to help offset $100 of the card’s annual fee.

Capital One Venture X miles don’t expire as long as your account is active, and there are no blackout dates, allowing you to redeem them for travel purchases whenever you choose.

However, if you close your account, you will forfeit any unredeemed rewards.

The Venture X card truly stands out as a premium travel card thanks to its array of additional travel perks and benefits. Here are some of the key travel advantages that elevate it to premium status.

You can receive up to $300 back each year in the form of Capital One Travel credit for bookings made through the portal. This annual credit can easily cover the cost of an airline ticket, a weekly car rental, or a hotel night, making it quite generous. Combined with the $100 annual fee offset from the 10,000-point anniversary bonus, the card effectively pays for itself each year.

Additionally, Venture X cardholders can also get up to a $100 credit every four years to cover the application fee for Global Entry or TSA PreCheck.

Capital One has enhanced its airport lounge access to compete with other luxury travel cards. With the Venture X card, you receive unlimited complimentary access to Capital One lounges for yourself and two guests per visit. Additionally, you’ll have access to over 1,300 Priority Pass lounges worldwide, also for you and two guests.

With free food and drinks in many lounges, plus the ability to escape the airport chaos, this perk offers significant value.

It’s also important to note that Venture X authorized users get their own lounge membership, which isn’t always available with other premium cards. Plus, there’s no fee to add authorized users, unlike some other premium cards, such as the Chase Sapphire Reserve®, which charges $75 for each additional user.

When traveling, incidental costs can quickly blow your budget, and one common expense is foreign transaction fees, typically around 3% of each transaction. Fortunately, the Venture X card does not impose any foreign transaction fees.

The Capital One Venture X also offers valuable travel insurance benefits due to its Visa Infinite status. You’ll receive trip cancellation and interruption insurance, travel and emergency assistance services, travel accident insurance, trip delay reimbursement, lost luggage reimbursement, and an auto rental collision damage waiver.

Purchase coverage

As a Visa Infinite card, the Capital One Venture X includes extended warranty coverage, purchase protection, and return protection.

Cellphone protection

You’ll also receive cellphone protection when you pay your cellphone bill with your Venture X card. If your phone is damaged or stolen, you can be reimbursed up to $800 per claim, with a maximum of two claims and $1,600 per 12-month period. Terms and a deductible apply.

Maximizing the Capital One Venture X card

This is primarily a travel rewards card, so it’s essential to enjoy traveling to fully maximize the benefits of the Venture X.

Be sure to take advantage of all the rewards-earning opportunities and meet the welcome bonus requirements. Additionally, it’s important to utilize all available credits. With up to $300 in annual travel credit for bookings through the Capital One travel portal and up to $100 for Global Entry or TSA PreCheck, you can easily offset the $395 annual fee in your first year.

After the first year, you’ll continue to receive the $300 annual travel credit for Capital One Travel bookings and 10,000 bonus miles on your card anniversary, worth $100 toward travel. This means the card effectively pays for itself each year, and the rewards you earn are an added bonus.

Once you’ve accumulated miles, redeem them for travel to maximize their value. You can either use them as a statement credit for your travel purchases or transfer them to travel partners for even greater value.

In Conclusion

The Capital One Venture X Rewards Credit Card is a relatively low-risk option for those looking to explore the premium travel credit card market. While it may not offer as many benefits as other luxury cards like the Sapphire Reserve or The Platinum Card® from American Express, its lower annual fee and the ability to offset costs through travel credits and an annual anniversary bonus make the Venture X a strong contender worth considering.