Capital One Venture X
I’ve had excellent Capital One experiences over the years. My Capital One 360 account goes back to the ING Direct days, and I’ve worked with an outstanding private banker since last year. But periodically, Capital One reminds me how peculiar they are. Despite my best efforts, I’ve never been approved for a Capital One personal card. I don’t know why, and I don’t care enough to figure that out. Anyway, I’m an authorized user on a Capital One Venture X account. I have low expectations of picking it up as a primary cardholder. Nonetheless, I’m curious what value the full suite of Capital One Venture X perks would bring me. Similar to what I explored with ultra premium cards from Amex and Chase, here’s how the benefits of the $395 annual fee Capital One Venture X would measure up in my situation.
Current welcome offer and more info for the Capital One Venture X
Annual Travel Credit
Let’s start with a simple one. Venture X cardholders receive an annual $300 travel credit for bookings through Capital One’s travel portal. That’s not as flexible as the Chase Sapphire Reserve’s $300 travel credit which isn’t limited to such a portal. But in my past experience with the Capital One Spark Travel Elite, it’s easy enough to use. More importantly, I’ve found competitive rates using the portal.
Annual Benefit Value: $300
Capital One Venture X Anniversary Bonus
Capital One Venture X cardholders receive 10k miles as an anniversary bonus. They’re transferrable to partners but also useful on the portal at one cent each. Many will get more value by shifting those miles to travel partners, but I’ll conservatively place a minimum value for portal use.
Annual Benefit Value: $100
Global Entry/TSA PreCheck Credit
Venture X cardholders receive a $100 credit for Global Entry or TSA PreCheck expenses. Hobbyists, from casual to very active ones, have this credit on seemingly countless other credit cards. Therefore, this would be a big fat donut in terms of value for me.
Annual Benefit Value: $0
Lounge Access
My experience at the Capital One Lounge DFW was outstanding. The catch? That’s the only Capital One Lounge currently open. New locations are opening in Denver and Washington Dulles soon, though. That’s great, but that brings their total up to a whopping three. To be fair, the Venture X also grants access to Priority Pass and Plaza Premium lounges. Those lounges are accessible with other cards, including the Schwab Platinum which is a long-term keeper for me.
Could I end up in a Capital One Lounge this year? Maybe. But as of right now, I have no definite plans, especially given their limited footprint.
Annual Benefit Value: $25
Everything Else = Noise
Capital One also gives Venture X cardholders Hertz President’s Circle status. I can’t remember the last time I rented a car, and even when I did, Hertz has never been my first option. In my experience, Hertz always tends to cost more than some other fine options.
Cell phone protection means nothing to me, as my almost free wireless strategy would preclude me from paying with the Venture X for coverage. Primary rental car insurance, trip delay reimbursement, and purchase/extended/return protection are superfluous.
Annual Benefit Value: $0
Capital One Venture X – Conclusion
Okay, math time. The annual benefit value I would receive from the Capital One Venture X as a primary cardholder is $425, coming in just $30 over the $395 annual fee. Again, that’s a low annual fee for what some consider an ultra premium card. But for higher annual fees, I’m buying into premium cash out options with the Schwab Amex Platinum and Chase Sapphire Reserve. From that perspective, I’m not losing sleep over missing out on the Venture X as a primary cardholder. I still get my Capital One Lounge access as an authorized user, if I ever need it.
Bigger picture, the Venture X is a no-brainer for many who are eligible for approval and the solid welcome offer. The harder question will come in year two, as cardholders should assess whether the card provides enough value for their respective situations. How do you value the Capital One Venture X?
Current welcome offer and more info for the Capital One Venture X
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It’s hard not to recommend this as a keeper or the first “premium” card to go for, considering the travel credit and points back pay for the fee. It’s a negative cost of ownership and you get some nice features on top of that. Because of that, I find it hard to recommend the regular Venture over this because this ends up being “cheaper”. In addition, a lot of people report that if you have to cancel travel you receive the travel credit for, they don’t claw it back. I wouldn’t rely on that, but it’s been my experience as well.
I’m also based in Denver, so if the lounge ever ends up opening there, it’ll be nice to have access to what most people says is a very nice lounge (based on the Dallas one) that hopefully isn’t as crowded as others. Plus free authorized users means my wife and I can get our family of 4 in easily.