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Capital One announced today that it will be launching a brand new premium travel credit card called the Venture X. This metal credit card, which will open for applications on Nov. 9, is designed for consumers who value travel, simple rewards categories and want flexibility with the rewards they earn.
With the Venture X, you will have a long list of benefits including airport lounge access (including the new Capital One airport lounges), TSA PreCheck/Global Entry and travel statement credits, access to the Capital One Experiences program and much more.
Select analyzed the new card to help determine whether or not it’s worth a spot in your wallet.
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Capital One Venture X Card
Unlimited 2X miles on all eligible purchases and, when booking via Capital One Travel, 5X miles on flights and 10X miles on hotels and rental cars
100,000 bonus miles after spending $10,000 on purchases within the first six months of account opening
16.99-23.99% variable APR
Balance transfer fee
Either $10 or 4% of the amount of each transaction, whichever is greater.
Foreign transaction fees
The Venture X card is rich in benefits, yet simple to use. It’s a trend among credit card issuers to have a somewhat overwhelming list of perks, making it nearly impossible to take advantage of all of them. This card from Capital One is concise in its offering, however, it comes with a $395 annual fee. But the benefits of the card can quickly make up for the annual fee.
To start, the card comes with an excellent welcome offer:
- Earn 100,000 bonus miles after spending $10,000 on purchases within the first six months of account opening.
If you are able to meet the minimum spending threshold in the first six months, you will have a minimum of 120,000 bonus miles. Because Capital One miles are always redeemable for one cent per point towards travel this is a $1,200 value from the start. But the benefits don’t end there.
With the Venture X card, you will earn:
- 2X miles for every dollar spent on all eligible purchases. This is the same multiplier as the Capital One Venture Rewards Credit Card.
- When booking travel through the Capital One Travel portal, you will earn 5X miles for every dollar spent on flights and 10X miles for every dollar spent on hotels and rental cars.
Your miles can be redeemed in a few ways, including transfers to 15 different airline and hotel partners (like Air France-KLM Flying Blue and Air Canada Aeroplan), or you can use them to “erase” any recent travel purchases.
The VentureX card comes loaded with benefits that are primarily geared towards travelers:
- Up to $300 back in statement credits each year for bookings made through Capital One Travel
- Up to $200 in statement credits for vacation rentals (i.e. Airbnb and VRBO), note that this is a limited-time benefit
- A 10,000 mile bonus on each account anniversary
- Up to $100 statement credits for either Global Entry or TSA PreCheck®
- Airport lounge access: you will have access to over 1,300 Priority Pass lounges, as well as Capital One Lounges. Venture X cardholders and authorized users will get unlimited access to Capital One and Priority Pass lounges, along with free entry for up to two guests per visit. It’s $45 per visit for additional guests.
- Access to the Capital One Travel portal, which includes benefits such as opt-in travel insurance, price drop protection and price match guarantee
- Access to in-person events through the Capital One Experiences program, such as dining and sports events
- Primary cardholders can earn up to 100,000 miles per year for referring friends to the VentureX card (up to four referrals per year; 25,000 miles awarded per referral)
- Complimentary Hertz President’s Circle status for primary cardholders, authorized users and account managers. Benefits include: skip the counter and e-return, the widest vehicle selection, guaranteed upgrades, free additional driver, and more.
- Complimentary cell phone insurance
- No additional annual fee to add authorized users
The benefits the Venture X card offers are very compelling, even if you only travel a few times per year. In one trip alone, you can easily use the $300 statement credit for Capital One Travel, and nearly make back the cost of the annual fee. Any use of the other perks only increase the card’s value. It’s also nice to see Capital One offer an incentive to hold onto the card by offering 10,000 points on your account anniversary.
In addition, cardholders do not need to keep track of any spending categories as all eligible purchases outside of Capital One Travel earns 2X miles for every dollar spent — which is a respectable return, especially if you’re transferring points to travel partners. And when booking travel through Capital One, you’ll be rewarded big with up to 10X miles per dollar spent.
Compared to other premium credit cards like the Chase Sapphire Reserve® and The Platinum Card® from American Express, this card is focused on travel, rather than offering other lifestyle benefits that have been added to its competitors in recent years. In addition, the Venture X provides perks that make it much simpler and straightforward to earn back the value of the annual fee compared to the other two cards.
The Capital One Venture X Card is the first premium credit card offered by Capital One, and it really packs a punch. With a manageable annual fee, large list of travel benefits and massive welcome bonus, it could make a great addition to your wallet — as long as you can use the perks. If the $395 annual fee seems like to much to bite off it could be worth considering a travel credit card with a lower annual fee.
Additionally, if you decide to apply for the Venture X card, be sure you’re able to meet the minimum spend requirements for the 100,000-mile welcome offer. Spending $10,000 in six months could be a stretch, so it may be smart to wait until you have a few large bills or purchases to ensure you complete the bonus. But if you’re able to complete it responsibly, this card can get you jumpstarted on taking vacations completely paid for with your Capital One miles.
Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.