Capital One Venture X vs. Amex Platinum: Which premium card is the best choice for you?

If you're looking to add a premium travel rewards card to your collection, you might find yourself torn between the Capital One Venture X Rewards Credit Card and The Platinum Card® from American Express — and for good reason.

Both cards provide premium benefits such as airport lounge access, valuable statement credits, and travel protections. However, there's no one-size-fits-all option, especially in the realm of premium cards. While both Venture X and Amex Platinum are outstanding choices, their significant differences may make one a clearer fit for your needs than the other.

To assist you in determining which card is the best match for you, here’s a detailed comparison of what the Venture X and Amex Platinum offer.

Comparison of Capital One Venture X and Amex Platinum

**Eligibility and benefit levels differ by card. Terms, conditions, and limitations apply. For details, visit americanexpress.com/benefitsguide. If coordinated through the Premium Global Assist Hotline, emergency medical transportation assistance may be provided at no cost. Otherwise, cardmembers are responsible for third-party service provider charges.

***Eligibility and benefit levels differ by card. Terms, conditions, and limitations apply. For details, visit americanexpress.com/benefitsguide. Policies are underwritten by AMEX Assurance Company.

****Eligibility and benefit levels differ by card. Terms, conditions, and limitations apply. For details, visit americanexpress.com/benefitsguide. Policies are underwritten by New Hampshire Insurance Company, a member of AIG.

Capital One Venture X vs. Amex Platinum sign-up bonus

The Capital One Venture X currently offers a welcome bonus of 75,000 miles after you spend $4,000 in the first three months of opening your account. TPG estimates this bonus to be worth $1,388.

On the other hand, the Amex Platinum is offering 80,000 Membership Rewards points after you spend $8,000 in the first six months of membership. TPG values this bonus at $1,600. Additionally, you may qualify for a higher bonus via the CardMatch tool (Note: CardMatch offers are not guaranteed and may change at any time).

Winner: Amex Platinum. Its welcome bonus exceeds the Venture X's offer by more than $200.

Benefits of Capital One Venture X vs. Amex Platinum

A key advantage of both cards is the lounge access they provide. With the Venture X, you'll enjoy entry to Capital One, Priority Pass, and Plaza Premium lounges. However, the Amex Platinum offers more extensive lounge options, including Centurion, Delta Sky Club (when flying Delta), Escape, Lufthansa, and various lounges within the Global Lounge Collection, along with access to Priority Pass and Plaza Premium lounges.

With the Venture X, you'll also receive a $300 annual credit for travel bookings made through Capital One Travel, as well as a Global Entry/TSA PreCheck credit and a generous guest allowance for lounge access. If you can make the most of these benefits, you'll easily cover the card's $395 annual fee (see rates and fees), which is relatively low for a premium travel credit card.

The Venture X includes travel and purchase protections, providing peace of mind even if you don't fully utilize its financial benefits.

Additionally, you can add several authorized users to your account at no extra cost (see rates and fees), which is particularly valuable as each authorized user shares the same airport lounge access as the primary cardholder.

In contrast, the benefits of the Amex Platinum's are considerably more extensive. They encompass over $1,500 in annual statement credits, comprehensive airport lounge access, and robust travel and purchase protections, including cellphone coverage of up to $800 per claim with a $50 deductible (limited to two claims within a 12-month period).

The Platinum card's benefit offerings are arguably the most impressive of any card available to the public, but they come with a $695 annual fee (see rates and fees), which is significantly higher than the Venture X. Additionally, adding authorized users to your account incurs extra charges, costing $195 per user annually (see rates and fees).

Winner: Amex Platinum. Its lounge access and more than $1,500 in available statement credits are hard to surpass.

Reward earning potential with Venture X vs. Amex Platinum

The Venture X allows you to earn 10 miles for every dollar spent on hotels and rental cars booked through Capital One Travel, 5 miles per dollar on flights booked through Capital One Travel, and 2 miles per dollar on all other purchases.

Conversely, the Amex Platinum earns 5 points for every dollar spent on flights booked directly with the airline or via American Express Travel (for purchases up to $500,000 per calendar year; thereafter, it earns 1 point per dollar) and on prepaid hotels booked through AmexTravel.com. For all other purchases, it earns 1 point per dollar spent.

While Venture X may present more earning potential, it's important to note that TPG values Amex Membership Rewards at 2 cents each, whereas Capital One miles are valued at a lower 1.85 cents each.

Winner: Venture X. Most users will accumulate more rewards with 2 miles per dollar on all purchases compared to the earning structure of the Amex Platinum.

How to redeem rewards with the Venture X vs. Amex Platinum

With the Venture X, you can maximize the value of your miles by transferring them to over 15 transfer partners of Capital One, including Air Canada Aeroplan and Choice Privileges. Alternatively, you can book travel through Capital One Travel or redeem your miles as a statement credit for recent travel at a flat rate of 1 cent per mile.

You also have the option to redeem your Capital One miles for gift cards at a rate of 1 cent per mile or use them for purchases with Amazon or PayPal at a rate of 0.8 cents per mile. The least favorable choice is redeeming your miles for cash back at a rate of 0.5 cents per mile, so it's best to avoid this option when possible.

Similarly, with the Amex Platinum, you can achieve maximum value from your Amex Membership Rewards points by transferring them to any of Amex's 21 travel partners. You can also redeem your points for travel through AmexTravel.com, typically at a rate of 1 cent per point.

Lower-value redemption options include using your points as a statement credit for eligible charges, utilizing Pay with Points at various online retailers, and redeeming points for gift cards. You'll usually receive less than 1 cent per point with these options, so it's advisable to focus on travel redemptions to maximize the value of your points.

Winner: Amex Platinum. According to TPG assessments, Membership Rewards points provide more high-value options and are generally worth more than Capital One miles.

Transferring rewards between Venture X and Amex Platinum

Both Capital One and American Express facilitate easy transfers of your rewards to valuable travel partners. In both cases, you can transfer rewards to most partners at a 1:1 ratio, and typically, your points will transfer instantly. Both programs frequently offer transfer bonuses that enhance the value of your rewards even further.

The two programs share several overlapping transfer partners, including favorites like Air France-KLM Flying Blue, Avianca LifeMiles, British Airways Executive Club, and Singapore Airlines KrisFlyer. However, American Express allows you to transfer Membership Rewards points to a greater number of valuable airline and hotel partners than Capital One, including ANA Mileage Club, Iberia Plus, and Virgin Atlantic Flying Club. Historically, American Express has also offered more transfer bonuses than Capital One.

However, Capital One has its own valuable partners that distinguish it, such as Turkish Airlines Miles&Smiles and Virgin Red.

TPG credit card writer Danyal Ahmed enjoys using his Amex points for premium cabin redemptions across various partners. He frequently transfers his points to Aeroplan to take advantage of the program's excellent award chart and stopover options.

Winner: Amex Platinum. You can transfer Membership Rewards to a larger number of valuable travel partners.

Should I choose the Venture X or the Amex Platinum?

The Amex Platinum is a superior option for frequent flyers due to its extensive lounge access and bonus earnings on airline purchases. However, if you find yourself grounded more often, you may prefer the lower annual fee and wider earning potential of the Venture X. This card offers significant benefits like lounge access and an annual travel statement credit, all while maintaining a much lower annual fee and broader earning opportunities.

Conclusion

Both the Venture X and the Amex Platinum are excellent cards.

If you're after extensive airport lounge access and numerous statement credits and are okay with a higher annual fee, the Amex Platinum is the ideal choice for you. On the other hand, if you prefer earning a flat rate on all your purchases while enjoying premium perks at a lower annual fee, then the Venture X is your best bet.

That being said, both cards offer solid advantages. Whichever one you choose, you'll be traveling like a pro in no time with either option.

For more information, check out our comprehensive reviews of the Amex Platinum and Venture X.

Discover more: Capital One Venture X Rewards Credit Card

For Capital One products featured on this page, some of the benefits mentioned are provided by Visa® or Mastercard® and may differ by product. Refer to the specific Guide to Benefits for complete details, as terms and exclusions may apply.