Capital One Venture X - Best New Premium Card on the Market?
In late 2021, Capital One came out with a new competitor in the premium card market - the Venture X card. Not only does it seem like this will be a standout card for many people to keep for the long haul, but it also has a huge 100,000 point sign up bonus right now!
Best Premium Card?
At a $395 annual fee, the Venture X is poised to compete with other premium credit cards like the Chase Sapphire Reserve and American Express Platinum.
What makes it stand out? First, the annual fee on the Venture X is much lower than competitors, as the Reserve charges an annual fee of $550 and the Platinum is even higher at $695.
Second, the travel credit is very generous compared to the annual fee. The Venture X offers a $300 travel credit annually when booking through the Capital One travel portal. Although this is more restrictive than the travel credit for the Reserve, which applies to any travel purchase regardless of where you made that purchase, it rebates a much higher proportion of the annual fee for the card. Compared to the Platinum travel credit, which is more restrictive and only $200, Capital One strikes a good middle ground on ease of use and far outweighs the competitors when considering the proportion of credit to annual fee.
Third, the Venture X offers 10,000 bonus points every year that you renew the card. These points can be redeemed for $100 through the travel portal or even more using transfer bonuses.
Why It’s Right for My Family
In November, when the card came out, we decided that my husband would apply for the card. He did, and was approved! Here’s why we decided to go for it:
As I outlined above, I think the Venture X is a really great deal. In the first year, we will get a 100,000 points sign up bonus, which is conservatively worth $1000. As part of the sign up bonus, we also will get a $200 statement credit towards making a vacation rental purchase, which we typically do at least once a year. This already far outweighs the annual fee. Looking forward, we will likely keep the card for a second year. Each year with this card, we will get a $300 travel credit + 10,000 anniversary points. Right there, the annual fee of $395 is already covered.
The Venture X comes with a bunch of other perks, like a credit for Global Entry or Pre-Check, Priority Pass lounge access, cell phone insurance, and Hertz President Circle status. While these particular perks don’t really get me excited because I have access to all of them through my other premium cards, I am excited about Capital One’s new lounges. Capital One is launched an airport lounge at DFW in 2021, with two more to come in 2022 at DFW and IAD. Since Dulles (IAD) will be one of my new home airports and reviews of the already open DFW lounge look great, I definitely want access to this lounge when it opens.
Moving forward, I plan to prioritize ease of use for the cards entering our home. Although I have complicated cards like the Amex Platinum, I am tired of having to commit so much time trying to maximize value from these cards. The Venture X has credits that are easy to use, which means I can see us holding on to it for a long time.
I haven’t mentioned earning rates yet - the Venture X earns 10 points per dollar on hotels and rental cars booked with the Capital One travel portal, 5 points per dollar on flights booked with the travel portal, and 2 points per dollar everywhere else. While I don’t care much for using a travel portal to book hotels, flights, and rental cars, I am impressed by earning 2 points on everything else! The only card that I have that is competitive on non-bonus spend is the Citi Double Cash. Since the Venture X offers a lot more benefit, I don’t see the need to keep the Double Cash in my wallet any longer.
How We Will Use the Venture X This Year
100,000 point sign up bonus: There are a few ways to use your Capital One points for travel -
Use points to “erase” a travel purchase from your statement at a rate of 1 cent per point. While this is generally considered a low value for your points, I will consider using points to erase purchases that are difficult to otherwise cover with points, like vacation rentals.
Redeem your points for one cent per point using the Capital One travel portal to book flights, hotels, or car rentals. I prefer to book directly when possible, so I don’t think I will use this option, other than to take advantage of the $300 annual credit, which I’ll likely use to book a flight or rental car.
Transfer your points to a travel partner. Capital One has a variety of airline and hotel transfer partners where points transfer 1:1. If you can find a great deal, this is the redemption option with the most potential to maximize your rewards. However, none of the major US airlines are partners. This means you’ll need to do a little research into booking awards on partner airlines if you don’t know that information already. I’m considering transferring points to Air Canada this year to book a flight from IAD > CUN on United.
$200 vacation rental credit sign up bonus: In a typical year, I make multiple bookings for vacation rentals on Airbnb. This is my preference for big group trips, and I shared here about why I prefer a vacation rental over a hotel when one family member is working from home. This credit should be easy to use - just put the purchase on the card in the first year and the $200 statement credit will apply to your balance. I did put a reminder in my to-do app to remember to use this credit before our cardmember year is up.
$300 travel credit: I also set a reminder to make sure that I use the travel portal to book a flight or rental car this year. This one should also come off automatically after making your purchase. While I don’t think 2022 will be a heavy travel year, I will book a few flights, so this should be an easy credit to use.
Is Venture X the Card For You?
I think this card is great for a lot of people, including you, if:
You already have one or more premium travel cards, but are willing to take on more for the incredible sign up bonus. I’d put myself in this category!
You do not have a premium travel credit card, but are interested in the perks and comparatively low annual fee.
You already have Capital One cards, and would like a premium travel card to add benefits or the ability to transfer to partners to your lineup.
Who is the Venture X Not For?
No card is a perfect fit for everyone. Consider skipping this one if:
You would never consider paying such a high annual fee, even if the benefits outweigh the cost. If this is you, I’d consider looking into the Chase Freedom Flex, Citi Double Cash, or Chase Freedom Unlimited.
You don’t have a Capital One card already, and can’t stand the thought of having points in a new ecosystem. If this is you, I’d recommend looking into a premium or mid-tier card in the ecosystems you are already part of.
You’d rather have similar benefits at a lower price tag. If this is you, take a look at the Chase Sapphire Preferred, Citi Premier, or Capital One Venture Rewards cards.
Ready to Sign Up?
If you’re convinced, use this link to sign up for the card. Using my links helps support my content and makes this blog sustainable. Let me know what you plan to use your 100,000 points for if you sign up!
