Capital One Venture X Perks
The day is here, the Capital One Venture X Rewards is now live. I found it a bit strange that they announced the card a week before launch but the wait is now over. I figured I should take up some digital space and share my thoughts about the Capital One Venture X perks, features and the card overall. Did Capital One knock it out of the park, or did they hit more of a double? We also talk about the card on this week’s upcoming MtM Podcast along with Richard Kerr so check that out on Thursday too.
Capital One Application Rules
Capital One is a difficult approval and it pulls your credit from all three bureaus. If you value your hard inquiries then you should be aware of that. They also have the following application rules:
- Maximum of 2 personal cards at any time.
- Only 1 new card every 6 months.
If you have already been approved for a Capital One card in the last 6 months you will be auto denied so don’t even try.
Capital One Venture X Details
Before I get into my thoughts let me give you a quick overview of what the Capital One Venture X offers:
- Welcome Offer: Earn 100,000 miles after spending $10,000 in purchases within the first 6 months.
- For a limited time, cardholders can earn up to $200 in statement credits for vacation rental purchases like Airbnb and VRBO.
- Annual fee is $395.
- Learn More
Venture X – Earning Structure
- 10X earning on hotels and rental cars booked with Capital One Travel
- 5X earning on flights booked with Capital One Travel
- 2X earning on all other purchases
- No limits on the total rewards you can earn, and your rewards never expire.
Venture X – Other Perks/Benefits
- $300 in statement credits for bookings made on Capital One Travel
- 10,000 bonus miles every account anniversary (equal to $100 towards travel)
- Unlimited access to Capital One Lounges
- Priority Pass membership that allows two guests
- Add up to 4 authorized user cards at no extra cost
- Authorized users get free Capital One lounge and Priority Pass entry and can bring up to two guests as well.
- Complimentary Hertz President’s Circle status for primary cardholders and authorized users.
- Up to $100 in statement credits for either TSA PreCheck or Global Entry
- Learn More
My Thoughts On The Capital One Venture X Perks
If I am being honest, I keep going back and forth on this card. But let’s break down my thoughts by section.
The 100,000 point welcome offer is pretty great. However, having to spend $10,000 to get it is a taller order than most cards. The nice thing is you get 6 months to do which is doable for most people. But when you compare it to the recent Chase Sapphire Preferred 100,000 point offer for $4,000 in spend it doesn’t look quite as good.
Adding in a $200 Airbnb / VRBO credit is a nice addition though and eats up a chunk of the $395 annual fee.
Overall the welcome offer is very strong. I don’t mind bigger spending requirements when ample time is given. A side benefit is it helps me spread out applications as well.
If you already use the Ultimate Rewards or ThankYou Points portal etc. to make your bookings then this card will look very intriguing to you. If you loathe portals, like I loathe Southwest’s boarding procedures, then this may be a deal breaker for you.
The card has a solid base earning level of 2 points per dollar. That puts in on par with the very popular Capital One Venture Rewards credit card. All of the increased earning happens in the portal though, which is a miss for me. I don’t like adding a middle man to my travel bookings should issues arise. To be fair I have never used Hopper, or their portal, though so their customer service could be a lot better than what we are used to as far as portals go.
Hotel Portal Bookings
I don’t see myself ever booking a hotel through a portal since you miss out on the loyalty points you would earn from the hotel.
Car Rental Portal Bookings
Where the card could be very useful is for car rentals. I will sometimes book through a portal anyway when renting a car and 10X earning is hard to pass up. It also has primary car rental insurance which means you aren’t missing out on that too. Throw in Hertz President’s Circle status and this could be huge for some road warriors.
Flight Portal Bookings
Flights earning 5X through the portal isn’t overly exciting. If the portal matches up to airline’s published pricing then this could be useful for non complicated, domestic flights. You would still earn status and miles for flights booked through the portal so nothing is lost there. I would still book international flights etc. direct instead.
Since this is Capital One’s first premium card the focus has to be on the perks right? The Capital One Venture X card does come in as the lowest annual fee premium card which is nice. The $300 travel credit should be fairly easy for most to use, even if you have to go through a portal. A quick flight, or car rental, booking should get it done. If it earns points on the purchase, like it does with American Express, then even better.
The $100 in points every year, plus the travel credit, make this a net negative card for most. If you refuse to use the portal then this is a non starter for you, of course, and the Capital One Venture Rewards card is probably a better fit overall.
Where the card gets a bit interesting is in the Priority Lounge access and authorized user perks. You get access to all Priority Pass lounges, including restaurants, for you and two guests. The really crazy thing is authorized user cardholders also get this perk, including guest privileges. And, since there is no added fee for up to 4 authorized user cards you could get a small army into a lounge if you needed to. Access to Capital One lounges doesn’t mean much right now but it could grow like Centurion Lounges have.
Top tier Hertz status is a nice touch as well, especially when paired with 10X earning on car rentals through the portal. If you rent cars often then the Capital One Venture X is a winner for you in my opinion.
Capital One Venture X Perks – Final Thoughts
Overall I think this is a good card, but not quite great. Forcing everything through the portal to earn bonus points will be a sticking point for many. If the portal works well, and has good customer service, then this may not be an issue at all. Only time will tell there.
I think anyone that rents cars often, or values Hertz status, this card could be a great addition to your wallet. Earning 10X on the rentals, plus getting all the perks, is hard to pass up. Also, if you are looking to hold only one Priority Pass lounge card then this could be the best option. The fact that authorized users get the same access and guesting privileges is great, but who knows if that will last long term.
I will say I think this is a better card than the standard Capital One Venture Rewards card for most. Even though the annual fee is $300 more you can offset that with a $300 portal booking and the $100 in points each year. Then you are earning 2X on everything fee free versus $95 for the Venture card. Throw in the lounge access and Hertz status and I think it is a vast improvement for most. That assumes you will use the portal credit though.
The Capital One Venture X is available to current Venture cardholders too. We are not sure if it is available as a product change or not yet though. I would attempt to sign up first, and grab the welcome offer. If denied, then you could pursue a product change.