Why the Venture X is a cornerstone in my wallet

I confess — I have a passion for premium travel rewards cards. While many people select only one or two of the most sought-after top-tier cards, like the The Platinum Card® from American Express, Chase Sapphire Reserve®, and Capital One Venture X Rewards Credit Card, I've decided to go for all three.

Nonetheless, the Venture X is the premium card I frequently suggest to points-and-miles enthusiasts looking to enter the realm of premium travel cards.

Here are six compelling reasons why.

$0 effective annual fee

This card comes with a $395 annual fee, which is significant. However, by utilizing the $300 annual credit for bookings made through the Capital One travel portal, I can effectively reduce that fee to $95 — and there's even more to it.

Each year, I also earn 10,000 bonus miles on my anniversary with the card. According to TPG's September 2024 valuations, Capital One Venture Miles are valued at $1.85 each, making those 10,000 miles worth $185. Therefore, I am effectively gaining $90 annually just from holding this card, not to mention the additional perks listed below.

Access to Capital One lounges

While my Amex Platinum is unbeatable for lounge access — including Centurion lounges and Delta Sky Clubs (for Delta-operated or -marketed flights), the Venture X also stands out. It offers a Priority Pass Select membership along with access to Plaza Premium lounges. Starting February 1, 2025: Eligible Platinum Card Members will receive 10 visits per year to the Delta Sky Club or to Grab and Go while traveling on a same-day Delta-operated flight.

Cardholders also gain entry to Capital One's expanding lounge network. Based in Austin, I frequently connect through Dallas Fort Worth International Airport (DFW), where the first Capital One Lounge opened in November 2021, coinciding with the card's launch that offered a 100,000-point welcome bonus. (Currently, the standard offer is 75,000 miles after spending $4,000 in the first three months, valued at $1,388 according to TPG.)

My favorite feature of the lounge is the grab-and-go food and drink selections; they are perfect for quick connections and help save money on overpriced airport meals.

Four complimentary authorized users

This card keeps on providing value. You can add up to four authorized users at no extra cost.

I've included two family members and two friends as authorized users. They can enjoy all the lounge privileges that I have — particularly access to over 1,300 Priority Pass lounges around the globe. Additionally, they can bring two guests with them for unlimited complimentary entry.

Transferable points

One key lesson I aim to share with credit card rewards newcomers is this: Avoid relying solely on a card associated with just one airline or hotel loyalty program. Instead, focus on earning flexible (or transferable) points.

Capital One miles can be transferred to over 15 partners. I often leverage transfer bonuses to convert my points to Air France-KLM Flying Blue for valuable business-class flights to Europe; Avianca LifeMiles for premium-cabin awards on United flights back to Sydney; and British Airways Executive Club for direct flights within the U.S. and to Latin America on American Airlines.

Strong earning rate on non-bonus categories

While I utilize other cards to optimize my bonus earnings in categories like groceries, flights, and ride-hailing services, the Venture X is my preferred choice for everyday spending such as clothing, online shopping, and fitness-related purchases.

This card earns a minimum of 2 miles per dollar spent on purchases, and can earn 5-10 points per dollar for specific bookings made through the Capital One travel portal. However, I prefer booking directly to avoid complications if I need to change or cancel a flight or hotel reservation.

Car rental elite status

The Venture X provides complimentary Hertz President's Circle status* for the primary cardholder and authorized users aged 21 and older. This status grants free upgrades, bonus points, and a complimentary additional driver.

I have matched my top-tier Hertz status with Enterprise and Europcar. I would do the same with Avis and National if I hadn't already received complimentary status through my Platinum card.

*Upon enrollment, available via the Capital One website or mobile app, eligible cardholders will maintain this status for the duration of the offer. Please note that enrolling through the standard Hertz Gold Plus Rewards process (e.g., at Hertz.com) will not automatically recognize a cardholder as eligible, and they will not be upgraded to the applicable status tier automatically. Additional terms apply.

Final thoughts

The Capital One Venture X is the premium travel rewards card I most frequently recommend to avid travelers. It features a comparatively low annual fee that is easily offset by an annual travel credit and bonus anniversary miles. With luxury travel benefits like Priority Pass lounge access and elite status with Hertz (and possibly other rental agencies), it's a favorite among users. The option to add multiple authorized users at no extra cost only adds to its appeal — making it one of the top cards in my collection.

For an in-depth look at the card's advantages, be sure to check out our complete review of the Venture X.