Capital One Venture X credit card review: Luxury perks with a reasonable annual fee

The Capital One Venture X Rewards Credit Card is the issuer’s first foray into the world of premium travel rewards cards and knocks it out of the park. With an annual fee that undercuts the competition and plentiful perks that are easy to understand, the card is nearly a no-brainer for travelers ranging from luxury seekers to the more budget-minded. Chase and Amex, take notice. Card rating*: ⭐⭐⭐⭐½

* Card rating is based on the opinion of TPG’s editors and is not influenced by the card issuer.

When it launched in 2021, Capital One Venture X stepped into the premium space alongside cards like The Platinum Card® from American Express and Chase Sapphire Reserve. Like them, it has some serious travel perks and valuable statement credits — but for a much lower annual fee of $395 (see rates and fees).

As Capital One continues opening its own airport lounges, the case for the Venture X becomes even stronger. In addition to their first location at Dallas Fort Worth International Airport and second one at Washington D.C.’s Dulles International Airport, they’ve now opened a third location in Denver International Airport. With the Venture X, you’ll get complimentary unlimited access to these as well as Priority Pass’ 1,400+ partner lounge locations for you and your guests.

If Dallas Fort Worth, Dulles, or Denver are your home airports, this may be all you need to know to make your decision. But if you are still debating whether the Venture X is for you — and you have a credit score of at least 700 — here is everything you need to know before clicking that “apply” button.

The Venture X card’s sign-up bonus is 75,000 bonus miles after you spend $4,000 on purchases in the first three months from account opening.

According to TPG’s latest valuations, 75,000 Capital One miles are worth $1,388, thanks to the outsized value you can get from transferring Capital One miles to the program’s airline and hotel partners.

And if you don’t want to navigate the complexities of transferable points, you can use your Capital One miles directly for travel at a rate of 1 cent per mile — making the sign-up bonus worth $750.

Related: The best time to apply for these popular Capital One credit cards based on offer history

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While lower than its premium competitors, Venture X does carry a $395 annual fee (see rates and fees). That might initially seem like a deterrent, but the card’s perks can offset the yearly cost with minimal effort:

• Annual credit: $300 back in credits annually for bookings made through Capital One Travel
• Anniversary bonus: 10,000 bonus miles every account anniversary, starting on your first anniversary (worth at least $100 toward travel)
• Lounge access: Complimentary access for cardholders and up to two guests per visit to Capital One Lounges and lounges in Capital One’s partner network
• Authorized users: Up to four authorized users can be added at no charge (see rates and fees), and they also get the same lounge access as the cardholder (including access for up to two guests)
• Access to luxury hotels: Access to the Capital One Premier Collection, which offers free breakfast, on-property credits and room upgrades (if available) as well as to the lower-tier Lifestyle Collection.

• Rental car status: The primary cardholder and authorized users receive complimentary Hertz President’s Circle status**.
• Global Entry or TSA PreCheck: Up to $100 in statement credits for either TSA PreCheck or Global Entry once every four years.
• Trip delay reimbursement: Up to $500 per person for reasonable expenses when your trip is delayed for more than six hours.
• Cellphone protection: By using the card to pay your monthly wireless bill, you’re eligible for up to $800 in coverage per claim. A $50 deductible applies per occurrence.
• Primary rental car insurance: Protection against damage caused by collision or theft to a rental car.*
• Purchase, extended warranty and return protection: Warranties of three years or less extended by an additional year; returns up to $300 per item and $1,000 annually per account.*

*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.
**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.

Related: Is the Venture X worth the $395 annual fee?

The Venture X accrues miles at the following rates:

• 10 miles per dollar on hotels and car rentals booked via Capital One Travel
• 5 miles per dollar on flights booked via Capital One Travel
• 2 miles per dollar on other purchases

This simplicity builds off the $95-per-year Capital One Venture Rewards Credit Card (see rates and fees), a product that has been around for over a decade. In that way, the Venture X represents the best of both worlds — high earning potential on travel purchases, specifically, but a solid everyday earning rate that’s easy to keep track of.

Related: Why the Venture X is a mainstay in my wallet

When you’re ready to redeem your Capital One miles, you have several options. If you want to get the most value from your miles, you’ll want to take advantage of the option to transfer them to Capital One’s 18 hotel and airline travel partners.

However, if you prefer a simpler redemption strategy, you can redeem your miles at a fixed value for any of these options:

• Book travel: You can book travel directly through Capital One Travel at a value of 1 cent per mile.
• Pay off travel purchases: You can pay off travel purchases made in the past 90 days on your card statement without worrying about the complexities of loyalty programs. You’ll again get a flat value of 1 cent per mile.
• Redeem for gift cards: You can use miles for gift cards at the same rate of 1 cent per mile.
• Redeem for cash back: You can redeem your miles for cash back at a much lower rate of 0.5 cents per mile.

Note that these fixed-value options will yield well below TPG’s valuation of 1.85 cents per point, and we especially recommend avoiding the lowest-value cash-back option when possible. If you want to redeem your rewards for cash-back, you’ll be much better off with the Capital One Savor Cash Rewards Credit Card or Capital One SavorOne Cash Rewards Credit Card.

The information for the Capital One Savor Cash Rewards has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.

Related: Should you transfer Capital One miles to partners or redeem them directly for travel?

To get maximum value from your Capital One miles, transfer them to any of Capital One’s 18 hotel and airline partners, including valuable options like Air Canada Aeroplan and Choice Privileges.

For instance, TPG senior credit cards editor Matt Moffitt loves the option to transfer his miles to Avianca LifeMiles for premium-cabin redemptions on United to Sydney, as well as the ability to transfer them to British Airways Executive Club for nonstop domestic flights on American Airlines.

No matter your travel preferences, you’ll be able to find some excellent value in Capital One’s transfer partners.

Related: Your ultimate guide to Capital One’s airline and hotel transfer partners

With a $395 annual fee (see rates and fees), the Venture X falls within the premium travel cards category. If you’re looking for different perks, such as more expansive lounge access or more flexible travel credits, you might prefer a different premium card option. And if you aren’t ready to fork over a premium annual fee, you can get some of the same perks with Capital One’s mid-tier travel card.

For additional options, check out our list of the best premium travel cards.

Read more: The best premium credit cards: A side-by-side comparison

With simple rewards, impressive lounge access benefits and overall solid value, the Venture X has mass appeal, especially for those searching for a premium travel rewards card. In addition, there are a lot of under-the-radar perks on the card, including Visa Infinite benefits with an extensive list of trip, luggage, car rental and purchase protections. Add in a growing network of airport lounges, no-fee authorized users, Capital One’s robust transfer partners and a luxury hotel program, and you have a card that is nearly a no-brainer.

Learn more: Capital One Venture X with 75,000 bonus miles after you spend $4,000 on purchases in the first three months from account opening.

For rates and fees of the Amex Platinum Card, click here.
For rates and fees of the Venture X, click here.
For rates and fees of the Venture Rewards, click here.

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.