Capital One Venture X Rewards Credit Card review: the ideal travel companion you’ve been waiting for?
Rating as of Nov. 9, 2021 based on a review of services March 20, 2023.
- Excellent
With a high annual fee and rewards that come as miles (not cash back), the Capital One Venture X Rewards Credit Card and its buffet of travel benefits will be most rewarding to travelers who already spend $5,000+ annually on flights, hotels, and rental cars.
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10x miles on hotels and rental cars, and 5x on flights when booked via Capital One Travel, and 2x on all other purchases.
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75,000 bonus miles after spending $4,000 on purchases in the first three months from account opening.
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Receive up to $300 back annually as statement credits for bookings through Capital One Travel
- Earn 75,000 bonus miles when you spend $4,000 on purchases in the first 3 months from account opening, equal to $750 in travel
- Receive up to $300 back annually as statement credits for bookings through Capital One Travel, where you'll get Capital One's best prices on thousands of options
- Get 10,000 bonus miles (equal to $100 towards travel) every year, starting on your first anniversary
- Earn unlimited 10X miles on hotels and rental cars booked through Capital One Travel and 5X miles on flights booked through Capital One Travel
- Earn unlimited 2X miles on all other purchases
- Unlimited complimentary access for you and two guests to 1,300+ lounges, including Capital One Lounges and the Partner Lounge Network
- Receive up to a $100 credit for Global Entry or TSA PreCheck®
- Use your Venture X miles to easily cover travel expenses, including flights, hotels, rental cars and more—you can even transfer your miles to your choice of 15+ travel loyalty programs
- Elevate your stay at luxury hotels and resorts from the Premier Collection with a $100 experience credit, daily breakfast for 2 and complimentary WiFi on every booking, plus other premium benefits like room upgrades, early check-in and late checkout when available
Disclosure – Capital One is an advertising partner of MoneyUnder30.
Capital One’s competitors must be shaking in their boots, because I don’t think anyone expected them to skip right over 3x and 5x and offer a travel rewards card with up to 10x bonus miles on select purchases – and that’s just the beginning of this card’s lavish travel benefits.
That being said, the Capital One Venture X Rewards Credit Card has its drawbacks. Some are in plain sight, like the $395 annual fee, and others are more hidden.
Key facts/overview
- Best for – Big travel spenders.
- Intro offer/signup bonus – 75,000 bonus miles once you spend $4,000 on purchases within the first 3 months from account opening
- Cash back – 10x miles on hotels and rental cars, and 5x on flights when booked via Capital One Travel, and 2x on all other purchases.
- Annual fee – $395.
- Intro APR – N/A.
- Regular APR – 21.74% - 28.74% (Variable).
In-depth analysis
The Capital One Venture X Rewards Card is no straightforward cash back card, so let’s pull apart all of its unique perks and features.
Rewards
At first glance, the Capital One Venture X Rewards card’s rewards are pretty eye-popping:
- Earn 2x on all purchases.
- Earn 5x on flights when booked through Capital One Travel.
- Earn a stunning 10x on hotels and rental cars when booked through Capital One Travel.
There’s a caveat, though: the miles you earn don’t convert 1:1 to cash. Therefore, the card is most ideal if you plan to spend all of your rewards points on more travel.
Bonuses
Your Capital One Venture X Rewards Card will include up to $300 back as annual statement credits on travel booked through Capital One Travel, another $100 towards travel each account anniversary, up to $100 credit for Global Entry or TSA PreCheck®, and more.
APR
Like most travel rewards cards, the Capital One Venture X Rewards Card requires high credit (700+) and offers no APR incentives. Miss a payment and you’re immediately hit by 21.74% - 28.74% (Variable).
Annual fee
The Capital One Venture X Rewards card charges a $395 annual fee, meaning this card will call for a pinch more financial mindfulness than a no-fee card.
Remember that your credit card should fit your lifestyle and never the other way around. The Capital One Venture X Rewards Card only makes sense if you’re already spending heavily within its reimbursement and rewards categories.
Other fees
Aside from the annual fee, there aren’t really any “gotcha” fees you need to worry about hiding in this card’s terms and conditions.
- Balance transfer fee: $0 at this transfer APR.
- Cash advance fee: 3% of the amount of the cash advance, but not less than $3.
- Late payment fee: $40.
Other unique benefits
In terms of benefits, the Capital One Venture X Rewards Card offers a seriously impressive toolkit for making travel faster, cheaper, and less stressful.
Capital One Travel is no mere Kayak.com clone, offering the ability to “freeze” the price of a flight, hotel, or rental car for up to 14 days, free price drop protection, and more. Plus, your card includes access to over 1,300 Priority Pass Lounges worldwide.
Pros & cons
Pros
- Decent welcome bonus — Earn 75,000 bonus miles once you spend $4,000 on purchases within the first 3 months from account opening
- Industry-leading travel rewards — No other card currently offers 10x back on hotels and rental cars. 5x on flights and 2x on everything else is nothing to scoff at, either.
- A buffet of travel perks and credits — With 14-day price freezing, lounge access, and credit towards Airbnbs/Global Entry, this card eases every step of travel.
- No foreign transaction fee — Some cards have the chutzpah to call themselves “travel cards” while charging a 3% foreign transaction fee. The Capital One Venture X Rewards Card isn’t one of them.
- Capital One Travel is pretty slick — Capital One Travel features price drop protection, price matching, and even 14-day price freezing.
Cons
- Rewards are in miles, not cash back — This card’s rewards come as Miles to be redeemed on Capital One Travel - the exchange rate plummets when redeemed for cash.
- Steep annual fee — With a very high annual fee, the Capital One Venture X Rewards Card only makes sense for cardholders who take advantage of all of its perks and bonuses on an annual basis.
- No travel concierge — In a curious omission, Capital One doesn’t offer a 24/7 live concierge like some competitors.
Capital One Venture X Rewards Card compared
Capital One Venture X Rewards Credit Card Capital One Venture Rewards Credit Card
Rewards Unlimited 10x miles on hotels and rental cars, and 5x on flights booked via Capital One Travel, and 2x on all other purchases Unlimited 2x miles on all purchases
Welcome bonus 75,000 bonus miles once you spend $4,000 on purchases within the first 3 months from account opening 75,000 miles once you spend $4,000 on purchases within 3 months from account opening
APR 21.74% - 28.74% (Variable) 20.74% - 28.74% (Variable)
Annual fee $395 $95
The Capital One Venture Rewards Credit Card offers a “lite” experience of its big brother, with the welcome bonus, unlimited 2x miles back on all purchases, up to a $100 credit for Global Entry or TSA PreCheck®, and more.
Drawbacks are the same; points come as miles (which redeem at a low rate for cash) and there’s no APR incentive to speak of. Even still, if you’re a frequent (but not super frequent) traveler, the Capital One Venture Rewards Credit Card’s $95 annual fee might be worth it.
Check out our full review of the Capital One Venture Rewards Credit Card.
Should you get the Capital One Venture X Rewards Card?
Even though the Capital One Venture X Rewards Card is objectively the most rewarding travel card out there, it’s definitely not for everyone.
If you’re already spending ~$5,000+ annually on flights, hotels, and rental cars, the Capital One Venture X Rewards Card is practically a no-brainer. With 10x cash back, lavish perks, and generous travel credits, you’ll pay off your $395 annual fee right away.
On the flip side, if you travel frugally, infrequently, or would simply prefer a travel card that provides cash back over miles, the Capital One Venture X Rewards Card isn’t a fit.
How to apply for the Capital One Venture X Rewards Card?
To apply for the Capital One Venture X Rewards Card, head to the card’s homepage to re-familiarize yourself with the fun stuff (rewards, perks, and bonuses) but also the granular terms and conditions.
Once you’re confident it’s the card for you, click “Learn More” and fill out the application. Once you’re done with the paperwork, you should have your card within five to seven days.
Oh, and don’t forget to ensure you put your big purchases on your new card. Don’t want to miss out on that $1,000 welcome bonus!
Summary
The Capital One Venture X Rewards Card may sound like a traveler’s dream, but it’s really only a fit for a select few. If you’re an infrequent or frugal traveler, you likely won’t spend enough to justify the card’s $395 annual fee.
However, if you already spend $5,000+ annually on flights, hotels, and rental cars, and don’t mind receiving rewards as miles instead of cash, the Capital One Venture X Rewards Card may indeed be the ideal travel companion.
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