Capital One’s Premium Travel Credit Card Is Rapidly Earning Its Place Among the Best in the Industry

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November 2022 will mark the first anniversary of Capital One's premier credit card offering, the Capital One Venture X Rewards Credit Card. Since its debut, the card has become popular among travelers, boasting a vast airport lounge network, significant annual credits (which offset the full annual fee), a robust earning structure, comprehensive travel insurance, and great point redemption opportunities. Here’s why you should think about adding the Capital One Venture X Rewards Credit Card to your collection, even if you own another premium travel card.

A substantial welcome bonus paired with generous annual credits

New cardholders can take advantage of an introductory bonus on the Capital One Venture X Rewards Credit Card: Earn 75,000 bonus miles after spending $4,000 on purchases within the first three months of opening the account.

Although the card comes with an annual fee of $395, cardholders can receive $300 in credits each calendar year when booking travel via Capital One Travel. By using the card to pay for flights, hotels, or car rentals through their booking engine, a $300 credit will appear days later, effectively reducing the annual fee to $95. Additionally, from the first anniversary of the account—and every year thereafter—cardholders earn a 10,000 Miles Anniversary Bonus (worth at least $100). That means we’re already $5 ahead before factoring in other card perks.

Like its competitors, the card offers a Global Entry or TSA PreCheck Credit every four years (up to $120). However, a standout feature of the Capital One Venture X Rewards Credit Card is its Price Drop Protection. Flights booked through Capital One Travel are automatically tracked for price changes, and if the price decreases after purchase, Capital One will refund the difference to your card.

Access to airport lounges

Capital One Venture X Rewards Credit Card holders can access airport lounges within the Priority Pass network, Plaza Premium lounges, and Capital One’s expanding network of well-appointed branded lounges.

Like many premium travel cards, the Capital One card offers Priority Pass Select membership, granting unlimited access to over 1,400 airport lounges worldwide. Access is available on the date of travel, regardless of airline or class, with complimentary entry for up to two guests. The Priority Pass membership through Capital One also provides credits at select airport restaurants, cafes, and bars. As of now, there are 29 lounge alternatives where Priority Pass members can receive food and beverage credits ranging from $28 to $32 per guest. (Note that Priority Pass membership through an American Express card does not include credits at lounge alternatives, while it does through the Chase Sapphire Reserve.)

In addition, Capital One is venturing into the airport lounge sector with its own Capital One Lounges. Currently, there are two located at Dallas–Fort Worth International Airport (DFW) and Washington Dulles International Airport (IAD), with another set to open in 2023 at Denver International Airport (DEN). Featuring craft cocktails, a gourmet grab-and-go deli, and even a fitness center, the Capital One Lounge at DFW surpasses many other U.S. airport lounges, including the esteemed Amex Centurion Lounges. We can only hope that future branded lounges will maintain such high standards. Cardholders can access the lounges free of charge along with two guests per visit.

Earning and utilizing miles

The card’s earning system is simple yet rewarding. You will earn:

• 10 miles for every dollar spent on hotels and rental cars booked through Capital One Travel
• Five miles for every dollar spent on flights booked through Capital One Travel
• Two miles for every dollar spent on any other purchase

With a minimum of two miles earned per dollar spent, you gain bonus miles on every purchase, making this particularly appealing for those who prefer not to track which credit card to use for specific purchases.

Once earned, miles can be exchanged for gift cards from major brands like Amazon and Apple at a rate of 1,000 points for $10 (for example, a 100,000 welcome bonus equals $1,000 in gift cards) or for statement credits on travel at the same ratio. However, we prefer to utilize the miles with the card’s transfer partners. Capital One’s rewards program features 14 airline and 3 hotel transfer partners, with most transfers at a 1:1 ratio, making it one of the best cards for mileage transfers. Transferring miles to specific airline or hotel loyalty programs is fast and easy, ideal for business-class seats, suite upgrades, and more.

Insurance Benefits

The Capital One Venture X Rewards Credit Card offers a comprehensive array of complimentary travel insurance and shopping protections when specific purchases are made with the card. The card includes essential travel insurance benefits such as:

• Auto Rental Collision Damage Waiver
• Travel and Emergency Assistance Services
• Trip Cancellation and Interruption Coverage
• Trip Delay Reimbursement
• $1,000,000 Worldwide Automatic Common Carrier Travel Accident Insurance
• Lost Luggage Reimbursement

In addition, shopping protections encompass:

• One-Year Extended Warranty Coverage
• Return Protection
• Cell Phone Protection

Additional Cardholders

A standout feature of this card is the fee for additional cardholders: $0 for up to four users. Yes, that’s right—adding up to four additional cardholders costs nothing. Each of them enjoys individual access to Capital One lounges (along with two guests each) and separate Priority Pass membership, which includes dining credits at Priority Pass restaurants. It seems almost too good to be true.

Key Insights on the Capital One Venture X Rewards Credit Card

The Capital One Venture X Rewards Credit Card is a top-notch travel credit card that pays for itself through annual statement credits alone. With lounge access, an attractive earning structure, flexible mile redemption options, built-in travel insurance, benefits for additional cardholders, and an enticing 75,000-mile welcome bonus, it’s a savvy addition to your credit card lineup—even if you already hold other premium cards.

While the offers mentioned above are accurate as of publication, they are subject to change at any time and may have been updated or could no longer be available.