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Update 11/9/21: Applications are now live. See more in this post.
Capital One’s ultra-premium credit card is out now. The Capital One Venture X card opened for applications on November 9th. Is this the next big thing, or much ado about nothing?
Capital One Venture X Welcome Bonus & Key Details
| Card Offer and Details |
|---|
75K Miles ⓘ Affiliate 75k miles after $4k spend within first 3 months. (Rates & Fees)$395 Annual Fee Recent better offer: Expired 3/14/22: 100K after $10K spend in 6 months + $200 credit for vacation rental spend in first year FM Mini Review: This card offers annual rebates that easily mitigate the fee for those who travel often. Authorized users are free and also get access to perks like Priority Pass, Capital One Lounges, Plaza Premium lounges, and more. The card earns 2 "miles" per dollar on most purchases just like the Capital One Venture Rewards card, which are worth exactly 1 cent each toward travel. This makes the return on most spend similar to a 2% cash back card (though in this case you must redeem your miles to offset travel in order to get 1 cent per mile). One huge advantage over cash back: Capital One allows transfering their "miles" to airline miles & hotel points. Click here for our complete card review Earning rate: 10X miles on hotels and rental cars booked via Capital One Travel ✦ 5x miles on flights and vacation rentals booked via Capital One travel. ✦ 2X miles everywhere else. Card Info: Visa Infinite issued by CapOne. This card has no foreign currency conversion fees. Noteworthy perks: $300 annual credit for bookings made through Capital One Travel ✦ 10,000 bonus miles each year starting at first anniversary ✦ Up to $120 application fee credit for Global Entry or TSA PreCheck® ✦ Capital One Lounge access ✦ Priority Pass membership w/ unlimited guests (lounges only) ✦ Plaza Premium lounge access ✦ Cell phone insurance ✦ Trip insurance ✦ Primary CDW coverage ✦ Redeem miles for travel at value of 1 cent per mile ✦ Convert "miles" to airline miles & hotel points |
Key Card Details:
- $395 annual fee
- Up to $300 back annually as statement credits for bookings through Capital One Travel
- 10,000 bonus miles every year starting on your first anniversary
- 10X miles on hotels and rental cars booked through Capital One Travel
- 5X miles on flights booked through Capital One Travel
- 2X miles on all other purchases
- Unlimited access to all-inclusive amenities at the Capital One Lounge (currently slated to be at Dallas-Fort Worth, Denver, and Washington Dulles airports)
- Priority Pass lounge access with up to 2 guests
- Up to a $100 credit for Global Entry or TSA PreCheck(R)
- No fee for authorized users
- Complimentary cell phone insurance
- Complimentary Hertz President’s Circle status (Upon enrollment, accessible through the Capital One website or mobile app, eligible cardholders will remain at upgraded status level through December 31, 2024. Please note, enrolling through the normal Hertz Gold Plus Rewards enrollment process (e.g. at Hertz.com) will not automatically detect a cardholder as being eligible for the program and cardholders will not be automatically upgraded to the applicable status tier. Additional terms apply)
Quick Analysis
When I first saw the details of the Venture X card, I felt disappointed. It offers the same 2x everywhere that the Capital One Venture Card card already offers, so why tie up an additional $300 per year in travel credits by spending $395 for this card over $95 for the Venture card?
However, Greg knocked some sense into me in discussion and I realize that I was looking at it wrong: the Capital One Venture X Card may actually be the best ultra-premium card on the market. Yes, the same Greg who had Capital One approve him, let him earn the welcome bonus and then mysteriously shut down his account and redeemed his miles for half a cent each was still able to look on the bright side and see what I was missing.
The Venture X card comes with a $300 annual travel credit. Unfortunately, you have to book through Capital One Travel to use this credit, but anyone who spends at least $300 per year on flights (or on hotels through 3rd party OTAs) will probably see that at nearly face value. The addition of 10,000 transferable points each anniversary (that can be redeemed for $100 toward travel at a base level or for more value with transfer partners) makes this card look nearly net-free or maybe even better depending on how you leverage partners.
At first, I was looking at it through the lens of someone who has too many $400+ credit cards already and asking myself why I would want another one that isn’t remarkably different from a card I already have (the Capital One Venture Rewards card). I felt like it wasn’t worth adding another $400 card to my wallet.
However, when I thought about it more critically, I wondered why I wouldn’t want to pay $400 for what is at a base level $400 worth of credits with an even better potential. As an avowed fan of Turkish Miles & Smiles, I know that 10,000 miles are more than enough for a one-way ticket within the US (even to Hawaii or Alaska) on United in economy class now that Capital One miles transfer to most partners 1:1. That can easily be worth far more than $100, making the card an easy win.
I expected that we’d see a bonus category or two on the Venture X, but truthfully 2x miles everywhere is already arguably better than what competitors offer on ultra-premium cards. While some competitor cards bonus travel spend in general (spent directly with providers) and Capital One only bonuses travel booked through them, those with a lot of unbonused spend may come out well ahead with the Venture X since most ultra-premium cards offer only 1 point per dollar as a base rate.
And for someone who wants to hold a single ultra-premium card, the Venture X comes with a lot of the right stuff. Priority Pass with access for two guests, free access to Capital One lounges, cell phone insurance, and free authorized users — the card ticks all of the boxes for a good ultra-premium card. The anniversary miles are particularly attractive, especially since Capital One is beginning to consistently offer transfer bonuses (like the current one to Air France) and partners are now almost entirely 1:1. That means you could turn those miles into 12,000 or more airline miles with the right transfer bonus.
Where Capital One still lags behind competitors is in two major areas. First up is approvals: it continues to be very difficult if not impossible to get approved for Capital One cards if you have opened many other cards and Capital One is the only major issuer to consistently pull reports from all three major bureaus. The other area where they lag is in an accessible portfolio for a winning combination of cards. While they do have some cards that would make excellent companions to the Venture X (especially since you can transfer cash back to miles, even to other cardholders’ cards), once again it is difficult to get even one Capital One card no less multiple (and then there was Greg’s experience of getting the card and getting it taken away without explanation shortly thereafter). However, if you already have a good Capital One card or two in your household, you could potentially put together a pretty good combo or trifecta.
The things we don’t yet know at this point are about what kind of travel or purchase protections come with the card. If the Venture X will match travel protections found on other ultra-premium cards, that could make it really interesting. Update: View from the Wing reports that the card comes with primary car rental protection; lost luggage reimbursement; trip delay + cancellation/interruption reimbursement; cell phone protection; and extended warranty protection. We’re still waiting for more information about those details.
Hertz President’s Circle status is a nice little benefit to have. I recently enjoyed driving a Chevy Camaro SS for the mid-size car price on a rental in San Diego.
It is worth noting that benefits like Priority Pass, Capital One lounge access, and Hertz President’s circle status all apply to the primary cardholder and also to authorized users and account managers. With no additional fee for adding authorized users, that is great.
While I wasn’t impressed at first glance, after a closer look I realized that the Venture X card will be worth it for those who can get approved and a reasonable alternative ultra premium card if it can provide travel and purchase protections that are comparable with the other players in the game.
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Can anyone point me to the official benefits for Roadside Assistance for the card? I’m curious if it is similar to the CSR where there is no cost up to a certain amount.
Just FYI, this still says “Update 11/9/21: Applications are now life.”
How is cap1 with MS? Yes there is 6months to spend but $10k is a lot of spend
YMMV as always, but I’ve done my share of Simon. No cycling, not wild and crazy, but I’ve been to the mall with it. I have a special rare redemption option in one of my accounts where I can use 64,250 Capital One miles for a $900 Marriott gift card. I redeemed for a couple of those $900 cards in 2019 just as an example. Some people get shut down, so no guarantees, but I wouldn’t be very concerned about hitting the spending requirement.
On that note, I know that $10K isn’t a low number in terms of new card requirements, but it works out to $1,666.67 per month (you have 6 months). I don’t know how much you spend per month, but I’d assume at least half that number on stuff like groceries, gas, & regular bills, so it wouldn’t take a questionable amount of MS to make up the difference. With a little holiday shopping, I imagine $10K may not be as steep as it sounds at first.
Any data points on whether having a Cap One Spark Biz card for my LLC (received in last 12 months) hurts or helps my approval chances?
My wife has a Spark Cash (she’s had it for a couple of years) plus a Venture and VentureOne. She was approved for the VentureX.
what about international fees? — a big deciding factor yet even some of the best cards don’t offer no international fees as a perk
I don’t think any of the current Capital One cards have foreign transaction fees.
I wish I would have kept my Savor card now, but they wouldn’t let me product change it to the No fee Savor One.
I’ve heard that a person can only hold up to two consumer credit cards with capital one at any time. Does that mean if somebody has two spark cards, they could still get approved for a Venture X?
I would not get a credit card just based on it’s generous welcome bonus. The benefits of this card are not much different than other cards on the market. The travel money needing to be used toward their travel center is a big drawback. Most of the other benefits are offered by other cards already.
14 personal cards with 4 in the last 2 years so I will pass. Also, will wait to see what happens with the B of A Premium Rewarsd card @2.6% cash back when they change the rules at B of A. 100K points sounds great but I have worked at building my relationship with Amex and Chase and plan to keep it that way.
Does Hertz honor President Circle benefits if you book through Capital One’s travel? I would have thought Hertz would treat Capital One Travel the same as any other OTA and therefore wouldn’t honor Hertz benefits. It seems counter intuitive to give you access to President Circle but not let you combine it with their earning category if Hertz treats bookings the same as going through an OTA
You do usually get rental car benefits when booking through an OTA. For example, I booked a few recent Hertz reservations through Priceline and got to pick from the President’s Circle area and earned Hertz points each time. So yes, I’d also expect benefits through C1 Travel with Hertz
What are the chances of getting approved if I already have the Venture? Thank you
Already having the Venture isn’t likely to be the most important factor. Capital One is known to not approve most people who have many other credit cards. If you only have a few credit cards, your odds are decent.
I believe that Capital One allows no more than 2 of their personal cards, so you should be able to have the Venture and Venture X as long as you don’t have other Capital One personal cards.
“not approve most people who have many other credit cards”
what is a reasonable #? 15-20? assuming all else are in good standing & 800+
Likely not 15. Think more like 3 or 6 or if you’re lucky maybe 8 or 9. Greg did get approved this year with more than 15, but then they did close his account so I dunno. People with 15 cards do not commonly get approved.
thx for the quick reply, 12 chase over 8 yrs, easy 20+ including others, so i should take a pass. I do get c1 pre-approved flyer periodically but never pulled trigger due to 3 HPs.
It’s hard for me to imagine bloggers not having 15+. I guess they manage prudently & efficiently
Hmm, first I’ve heard that Cap1 looks at number of credit cards. I have a medium number of inquires but 17 credit cards. Every other bank approves me and multiple, multiple times. But I’ve given up on cap1.
slightly curious if I can get a non premium card like the venture one and upgrade to the X at some point. But not going to be the guinea pig, that’s for sure.
Your 800+ score works against your chances also
They like people with low credit scores?
For the first time my wife hit 850 FICO and I’m close around 847. And, Cap has denied me when I was in the high 750+ range. Could be a lot of factors. I took a small break from getting cards, but 100,000 miles bonus is enticing. Do they allow transfers to AA?
Nobody has transfers to AA. Citi has had them temporarily for the past couple of months (and through November 13th), but AA is not a long-term transfer partner with any program.
Here are Capital One’s transfer partners:
https://frequentmiler.com/capital-one-transfer-partners/
I take this back! Greg reminded me that Bilt has transfers to AA. I guess it is also worth noting that Marriott does (3:1 or 60K:25K). But no, Capital One doesn’t.
Do Capital One business cards count against the limit?
Capital One still pulls all three credit bureaus for personal cards?
Unless you have one frozen — then they only pull two. I find that people get in a tizzy over that, but practically speaking I’ve never found inquiries to be much of an issue. Sure, some issuers will say they declined you for too many inquiries — but if even one customer got approved with more inquiries than you, you know that isn’t the real reason it’s just a made-up reason (and it usually is).
Can you freeze any single CRA? If one is frozen can you still hope for auto-approval or will it force a recon / verification call?
This looks like a great card, but being able to avoid a pull on my “busiest” CRA would make it much more interesting.
Yes you can freeze a single CRA and yes I was auto-approved for a card with C1 (and some other issuers) with one bureau frozen.
Which bureau did you freeze?
Does anyone know if you can book Southwest flights through Capital One Travel? I tried to check but I don’t have access to the site without being a Venture card holder.
Southwest doesn’t make their flights available online anywhere other than Southwest.com.
Thanks for the reply. I do use UR points to book SW but I have to call the CSR travel number to do it. This probably isn’t possible with Cap1, but it would make the travel credit more useful for me.
I dont think so. They hadn’t for years but ik at some point WN wanted to get into the GDS. I think they permanently scrapped it with the pandemic.
No value beyond SUB.
Unless you know how to leverage CO’s transfer partners or you heavily use Priority Pass. Then this becomes a very compelling card. 2X transferable points plus PP with free AU’s, all for a net-zero AF is kind of amazing IMO. Yes, you’ve got to jump through some hoops with this card, but such is the way with premium cards now.
Sure if you can approved for this and really leverage that PP restaurant membership and you don’t have a CSR or want to dump it and you want to book through the Cap1 portal and you have 4 other people you want to gift PP membership to and you have no way to do better than 2x Cap1 points everywhere then this could be a good option. But if you already deep into the game this card doesn’t offer much beyond the SUB unless you want to go full into the Cap1 ecosystem.
Perhaps down the line things will change, but the way things are now it’s silly to have any non-bonused spend. So this card will end up sock drawered.
And let’s be honest, this card won’t stay this “generous” this long. It’ll get nerfed like the CSR did.
And the Citi Prestige…
Anyone know yet if we’ll be able to upgrade to this card? I have a quicksilver and am constantly being offered an upgrade to both venture cards. Since it’s near impossible for many of us to get approved by cap one, an upgrade is probably my only path.
We don’t yet know but I’m certainly hoping so. There is a section in your online account to check for “Offers & Upgrades”, which is how I was able to upgrade an old garbage card of some sort to a Venture card.