The Capital One Venture X Rewards Credit Card is a premium travel card that comes with top-flight benefits like lounge access, annual travel credit, rich rewards rates and a sizable sign-up bonus: Earn 100,000 bonus miles when you spend $10,000 on purchases in the first 6 months from account opening, equal to $1,000 in travel.
The card also comes with a sizable $395 annual fee. But this fee includes top-tier travel perks that can make it worth paying. If you can meet the spending threshold, the card’s bonus alone can cover its annual fee for two years.
Deciding whether to get the card comes down to if you can take advantage of all the rich benefits that make it worth holding, even with a weighty annual fee. Here are some questions to ask yourself to determine whether the card is right for you.
Am I willing to book travel through Capital One?
Through the Capital One Travel portal, cardholders can book thousands of flights, hotels and rental cars, and access perks like price drop protection, price match guarantee and more. A large portion of the Capital One Venture X Rewards Credit Card’s value is tied to booking travel through this portal.
The card earns the following impressive rewards rates for travel-related purchases made through the issuer’s travel booking site:
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5 miles per dollar on flights booked via Capital One Travel.
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10 miles per dollar on hotels and rental cars booked via Capital One Travel.
The Capital One Venture X Rewards Credit Card comes with a $300 annual travel credit for bookings made through Capital One’s travel portal. If you don’t mind booking travel through the portal, that credit can help compensate for the card’s annual fee.
But if you’re not willing to make your bookings through the issuer, the card’s main value proposition is lost. Booking travel through a third-party portal creates a “middle man,” making it more complicated if you have to change or cancel your plans than if you’d booked directly. Plus, if you have elite status with a hotel or airline, you may not be entitled to any benefits or earn rewards that you’d otherwise get.
Will I take advantage of the issuer’s airport lounge access?
Cardholders have access to more than 1,300 Priority Pass airport lounges worldwide, as well as unlimited access to the Capital One lounges. These lounges, which cost $65 per visit for ineligible cardholders and the general public, are located in the Dallas-Fort Worth, Denver and Washington-Dulles international airports. (As of 2021, only the Dallas-Fort Worth lounge is open.)
Holders of the Capital One Venture X Rewards Credit Card have unlimited complimentary access to the lounges, as well as free entry for two guests per visit. They’ll also get discounted pricing of $45 per visit for additional guests.
Lounge amenities include nursing rooms, full bars, cycling and yoga rooms, shower suites and more.
If you don’t think you’ll make use of this perk by traveling through airports with Capital One lounge access a few times a year, consider other cards with lounge access in locations you frequent.
Does it fit my spending and redemption style?
In addition to earning bonus miles for travel-related spending, the card earns a base rate of 2 miles per $1 for all other non-bonus purchases. This makes the Capital One Venture X Rewards Credit Card a good option for those who value the simplicity of earning a flat rate on all purchases. You could earn more on certain categories with other cards, but if you’d rather not have to keep track of multiple earn rates or categories like is necessary for some similar premium cards, then it could be a good fit.
And redeeming points can be equally as hassle-free and flexible as earning them. You’ll get the most straightforward value, 1 cent per mile, when you redeem for travel. Cardholders can redeem points either for statement credit to cover the cost of a travel purchase, or for flights, hotels, rental cars and vacation packages through the issuer’s travel portal.
What’s next?
This post was originally published on Nerd Wallet
