Is the Capital One Venture X worth its $395 annual fee?

Since its introduction in 2021, the Capital One Venture X Rewards Credit Card has shaken up the travel credit card market, going head-to-head with giants like Chase and American Express. Despite its $395 annual fee, it's positioned lower than many rivals in the premium credit card arena.

Three years later, does the Venture X still provide sufficient premium benefits to justify keeping it? Let's explore what perks come with being a Venture X cardholder and whether they're compelling enough to retain it in your wallet.

Sign-Up Bonus

New Venture X applicants can earn 75,000 bonus miles after spending $4,000 within the first three months of account opening.

According to TPG's September 2024 valuations, these miles are valued at 1.85 cents each, totaling $1,388 for this bonus.

The value of these miles has risen in recent years due to Capital One expanding its transfer partners and enhancing transfer ratios with various partners. There are multiple ways to redeem your miles for substantial value.

It's important to remember that Capital One can be selective when it comes to approving credit card applications; the bank is known for closely scrutinizing the details on your credit report, including the number of recent hard inquiries, new accounts, and total accounts with other issuers.

Annual travel benefit

Venture X cardholders enjoy $300 in annual credits for bookings made through Capital One Travel.

The $300 annual credit feature of this card is straightforward. Each account year, you earn $300 in credits for purchases through Capital One Travel, which includes hotel reservations, car rentals, and flights. These credits are applied at checkout, not as statement credits for previous purchases.

However, this credit cannot be used for travel bookings made through other platforms. While this makes it more limited than the annual $300 travel credit offered by the Chase Sapphire Reserve®, it remains relatively easy to utilize and significantly reduces the card's $395 fee—provided you use it.

Using a third-party booking service has its drawbacks; notably, elite perks are typically not honored for hotel stays and car rentals.

Nonetheless, Capital One has made considerable improvements to the travel booking experience, including investing in Hopper, a booking platform, and introducing user-friendly features such as price-drop predictions and a best-price guarantee.

Anniversary bonus miles

Venture X cardholders benefit from an additional annual perk: 10,000 bonus miles on their account anniversary. This means you receive these miles one year after opening your account and each year on that same date, rather than at the start of each calendar year in January.

According to TPG's September 2024 valuations, 10,000 Capital One miles are valued at $185 when redeemed with Capital One's airline and hotel transfer partners. If you choose to redeem the anniversary miles through Capital One Travel, the value drops to around $100.

With the $300 Capital One Travel credit factored in, cardholders can expect a minimum value of $400 from their card each year.

Lounge access

Venture X cardholders enjoy access to three types of lounges: Priority Pass, Plaza Premium, and Capital One's own lounges, accommodating themselves and up to two guests.

Notably, having the Venture X card provides the easiest route to unlimited access to Capital One's lounges. Currently, there are three locations: Dallas Fort Worth International Airport, Dulles International Airport, and Denver International Airport.

Future plans have been announced for locations at Las Vegas-Harry Reid International Airport (LAS) and John F. Kennedy International Airport (JFK), although opening dates are yet to be confirmed.

Cardholders also enjoy unlimited access to lounges within Capital One's partner network, which includes over 1,300 Priority Pass lounges and more than 100 Plaza Premium lounges.

A day pass to a Capital One lounge typically costs $65, making this benefit quite valuable and a potential justification for the card's annual fee, especially for frequent travelers.

Car rental benefits

The Venture X card offers two significant advantages for car rentals: earning 10 miles per dollar on all rentals booked through the Capital One Travel portal (compared to 2 miles per dollar for rentals booked elsewhere) and achieving top-tier Hertz President's Circle status.*

You'll need to register with Hertz to access this benefit. President's Circle status provides advantages such as guaranteed upgrades, a broader selection of cars at the start of your rental, and a free additional driver (normally costing $10 per day, up to a maximum of $189 during your rental period).

*After enrollment, available through the Capital One website or mobile app, eligible cardholders will retain their upgraded status until December 31, 2024. Please note that enrolling through the standard Hertz Gold Plus Rewards process (e.g., at Hertz.com) won't automatically recognize a cardholder's eligibility for this program, and they will not be upgraded to the corresponding status tier without specific enrollment. Additional terms apply.

Access to premium hotel programs

Venture X cardholders can take advantage of the Capital One Premier Collection and Lifestyle Collection, offering access to boutique and luxury hotel programs. Cardholders can book exclusive properties using cash or redeem their miles at a rate of 1 cent each, along with additional perks during their stay.

Benefits at Premier Collection properties include room upgrades when available, complimentary Wi-Fi during your stay, free breakfast for two each day, and a $100 credit for on-site amenities such as spa treatments or dining at the hotel restaurant.

Lifestyle Collection properties mainly feature boutique hotels, offering perks like a $50 experience credit for rooftop drinks, signature restaurant meals, room service, or other activities, plus free Wi-Fi, room upgrades (subject to availability), and early check-in and late checkout when possible.

Additionally, since these reservations are made through Capital One Travel, cardholders earn 10 miles per dollar spent when using the Venture X card to pay for their stay.

Outstanding authorized user benefits

Unlike many credit cards that restrict their best benefits to the primary account holder, the Venture X card extends its perks to authorized users as well.

Cardholders can add multiple free authorized users to their accounts. These users enjoy several perks on their own without any additional fees:

• Access to Capital One lounges and Plaza Premium lounges simply by presenting their Venture X card — including the option to bring two guests
• Priority Pass Select membership upon online enrollment — allowing them to bring guests traveling with them
• Purchase and travel protections, including trip cancellation/interruption insurance, trip delay reimbursement, and cellphone protection

When evaluating these benefits for authorized users, it’s useful to compare them with the perks provided to authorized users of other premium travel cards and their related fees.

For instance, The Platinum Card® from American Express charges $195 for each additional card (see rates and fees), while the Chase Sapphire Reserve charges $75 per authorized user. This makes the Venture X a far more economical choice for couples or families, and I highly recommend it over its competitors if adding authorized users is important to you.

Additional perks

Venture X cardholders are eligible for reimbursement of their application fee for TSA PreCheck or Global Entry. This benefit is available once every four years and can provide up to $120 in statement credits.

Cardholders also enjoy a variety of travel and shopping protections when using their card:

• Trip cancellation and interruption insurance
• Trip delay reimbursement: Up to $500 per person for reasonable expenses such as hotel stays, meals, toiletries, or clothing when your flight is delayed overnight or by six hours or more
• Lost luggage reimbursement
• Cellphone protection
• Primary rental car insurance
• Extended warranty and return protection

Final thoughts

The $300 annual credit along with the 10,000 anniversary bonus miles offer tremendous value each year, easily offsetting the card's $395 annual fee. This assessment also overlooks intangible benefits, such as the value your authorized users can gain, complimentary food at lounges, and savings from purchase protections.

However, these benefits are only worthwhile if you actively use them. If you anticipate not being able to fully leverage the perks of the Venture X, it may be wise to consider a different card.

For more information, check out our comprehensive review of the Capital One Venture X.

Learn more: Capital One Venture X

For Capital One products mentioned on this page, some benefits are provided by Visa® or Mastercard® and may differ by product. Please refer to the respective Guide to Benefits for specifics, as terms and exclusions apply.