Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money.
Capital One’s newest card offering, the Capital One Venture X Rewards Credit Card, is a compelling option for those looking to simplify their travel.
With a bevy of benefits and a solid sign-up bonus, there are plenty of reasons to pick up this card. Prior to diving in, however, here are six things to know before getting the Capital One Venture X Rewards Credit Card.
What to know before getting the Capital One Venture X Rewards Credit Card
1. It offers a $300 annual travel credit
The marquee benefit advertised for the Capital One Venture X Rewards Credit Card is also its most valuable.
Each year, cardholders have access to a $300 travel credit usable on the Capital One Travel portal.
Although this travel credit isn’t as flexible as the one offered by the Chase Sapphire Reserve®, which is automatically applied to any travel purchases, you can still find plenty of flexibility when using Capital One’s credit.
Hotels and rental cars booked through the travel portal aren’t eligible for elite status benefits and credits, but flights are.
2. It’s annual fee is lower than its competitors
Speaking of the Chase Sapphire Reserve®, did you know that you'll pay $550 per year to hold the card?
Another competitor, The Platinum Card® from American Express, charges an even heftier $695 annual fee. Terms apply.
Although it may offer slightly fewer benefits, the Capital One Venture X Rewards Credit Card will charge you a much more palatable $395 annual fee. After taking into account the annual travel credit, you’ll be out of pocket just $95 each year.
3. It gives you 10,000 miles on each card anniversary
Starting with your first anniversary, Capital One will deposit 10,000 bonus miles into your account simply for holding the card. While this isn’t necessarily wholly free — you do have to pay the annual fee, after all — you don’t need to meet any minimum spend goals to earn these miles.
Although Capital One says you’ll receive $100 in value for these points, it’s possible to redeem your Capital One Miles for far more value. Based on actual redemptions, NerdWallet values Capital One Miles at up to 1.7 cents each. That means that the annual 10,000-point bonus is equivalent to roughly $180 in travel when you leverage transfer partners strategically.
» Learn more: Things to do when you start collecting Capital One Miles
4. It earns transferable points
Capital One will always allow you to redeem your miles at a rate of 1 cent each in its travel portal. You can also redeem them for statement credit against travel purchases you’ve made in the past 90 days.
However, the actual value of Capital One Miles comes from its status as a transferable point currency. What does this mean? In short, a transferable point currency can be converted to a variety of points and miles to score higher value from your points.
Capital One has 16 transfer partners, including two hotel chains and 14 airlines. Not all of these partners will give you good value; however, many will. For instance, if you want to fly to Europe in business class, you can transfer 45,000 Capital One Miles to Turkish Airlines for a one-way ticket in United’s Polaris business class.
Most of Capital One’s transfer partners are at a 1:1 transfer ratio, which means one Capital One Mile will become one airline/hotel point.
5. It offers the best benefits for authorized users
If you haven’t heard about this yet, you’re in for some excellent news. The Capital One Venture X Rewards Credit Card offers industry-leading benefits for authorized users.
Yes, other premium travel credit cards will allow you to add authorized users, and some will even extend benefits to those users. Usually there’s a cost associated with this, such as the $175 additional fee charged for up to three authorized users on The Platinum Card® from American Express. Terms apply.
However, the Capital One Venture X Rewards Credit Card will allow you to add authorized users for free. Even better, each of those cardholders is entitled to airport lounge access via a complimentary Priority Pass Select membership. This is the same access granted to the primary cardholder and includes more than 1,300 lounges around the world.
In addition to a Priority Pass Select membership, both primary and authorized cardholders receive top-tier Hertz President’s Circle elite status.
6. It’s excellent for non-bonus spend
Along with earning 10 points per dollar on hotels and rental cars booked on the Capital One Travel portal and 5 points per dollar on flights booked via that same portal, as well as a limited-time partnership that will get you 10x points on spending with carshare app Turo through May 16, 2023, you’ll also earn a flat 2 miles per dollar on all other purchases.
There are some credit cards that will match or even beat this earning rate, but no other premium travel card comes close. At a valuation of 1.7 cents per Capital One Mile, you’ll be earning 3.6% back on all your non-bonused purchases all the time.
If you want to get the Capital One Venture X Rewards Credit Card
There’s a reason this card has been in the news. With plenty of perks and a comparatively low annual fee, the Capital One Venture X Rewards Credit Card could be a good option for many consumers, whether you’re a points and miles aficionado or a casual traveler seeking to save a few dollars.
How to maximize your rewards
You want a travel credit card that prioritizes what’s important to you. Here are our picks for the best travel credit cards of 2022, including those best for:
Flexibility, point transfers and a large bonus: Chase Sapphire Preferred® Card
No annual fee: Bank of America® Travel Rewards credit card
Flat-rate travel rewards: Capital One Venture Rewards Credit Card
Bonus travel rewards and high-end perks: Chase Sapphire Reserve®
Luxury perks: The Platinum Card® from American Express
Business travelers: Ink Business Preferred® Credit Card