The Capital One Venture X Credit Card came out with a bang in November 2021. It was like when Chase Sapphire Reserve came out. The great thing was that Capital One offers many things we all like for a $395 Annual Fee. The question for most people with credit cards is the annual fee worth it.
Most people are not the biggest fans of paying annual fees for cards. They do not see the value, and that is ok. A good many travel rewards credit cards come with a yearly fee. For it to be worth it, there has to be the value you would want.
Let's talk about a whopping fee, but does it add value? For instance, American Express has a $695 fee. It has credits for Uber, streaming services, hotels, and airlines. It also has one of the largest networks of airline lounges adding Priority Pass lounges. If you use these benefits, the fee could bring massive value to you that may be worth more than the $695.
What Is So Good About the Capital One Venture X?
The Capital One Venture X is the new kid on the block in the credit card game. Credit card benefits may bring you value to cover the cost of the $395 annual fee.
$300 Annual Travel Credit
Every year, you are entitled to a $300 travel credit if you purchase a flight through the Capital One travel portal. $300 you have already paid for the fee can now cover the cost of a flight, hotel room, or even a rental car. If you are already paying the $395 annual fee for the year and plan just one travel event, that could help cover the cost.
So if you hold the Capital One Venture X, make sure you can use the flight credit every year. That will help in covering the fee.
10K Venture Miles on The Anniversary
Capital One will give you 10,000 Venture miles on your card anniversary every year. It is an excellent way of saying thank you for keeping our card for another year. Those 10,000 miles are worth $100 if you trade them for cash. It is worth keeping this card each year with them gifting you an extra $100.
With those two benefits alone, that $395 annual fee is covered. That is not even counting the countless other benefits of the card.
You get a $300 statement credit for booking travel through the portal and an additional 10,000 Venture miles for the anniversary date of the card. They are paying you $5 a year to keep the card. Now, who wouldn't want that?
There are still many benefits to making it even worth more than that fee.
Lounge Access Around the World
Capital One Venture X card competes with the American Express Platinum and the Chase Sapphire Reserve. So they allow card members to hold the Priority Pass. This will enable the cardholder to plus two guests access to 1300 lounges around the world.
Not only does Capital One Venture X allow you to use Priority Pass, but they have also partnered with Premium Plaza lounges to allow access for card holders. That is another extensive network of lounges you will have access to.
If you primarily travel around the U.S., some of these lounges may be less useful. Capital One is solving that problem quickly. They have created one of the best lounges at Dallas Fort Worth Airport and are working on building ones in Denver and Las Vegas. They have several other locations they are expanding to as well.
Airport food and drinks cost a premium these days, but with the access to these lounges, it makes sense to have a card like the Capital One Venture X. It saves money on that food and drinks you may have used cash to purchase otherwise.
Each great rewards card has an excellent spending bonus. Capital One has made the Capital One Venture Card, and the Capital One Venture X get 2x miles for every dollar spent. They will get two miles for everything. That makes things super easy for people.
With the Capital One Venture X card, you can also get 5 miles per dollar spent on flights booked through the Capital One travel portal. You can also get 10 miles on hotels and rental cars booked through the travel portal.
The bonuses are less exciting than the American Express Gold card getting 4x points on food or the Chase Sapphire Reserve getting 3x points on anything travel related. That is ok; you can have a simple card getting 2x miles on everything.
Other Benefits to Save Money
There have been other benefits that you could benefit from and save you money.
One is primary car rental insurance. When you rent a car and use your Capital One Venture X card, you will get primary insurance for that rental car. It is part of being a Visa Infinity card. No need to take additional car insurance out on the vehicle.
You can also get a $100 credit for TSA PreCheck or Global Reentry. That credit can be used once every four years.
Plus, you will have a complimentary President's Circle status with Hertz Rental Cars. This will allow you to have free upgrades and accumulate more points for free rides with Hertz.
If you are looking at the Capital One Venture X and see the $395 annual fee, do not worry. There are so many benefits that it covers the fee. If you use the travel credit just once and keep the card until the anniversary date, you will have that $395 fee covered.
Adding lounges, status in Hertz, and other benefits makes it worth so much more. So take advantage, sign-up, and enjoy this credit card.
I’m Steve. I’m an English Teacher, traveler, and an avid outdoorsman. If you’d like to comment, ask a question, or simply say hi, leave me a message here, on Twitter (@thefrugalexpat1). Many of my posts have been written to help those in their journey to financial independence. I am on my journey, and as I learn more I hope to share more. And as always, thanks for reading The Frugal Expat.