The Capital One Venture X card is now live for new applications. We also have some further information about its benefits — including the fact that it matches best-in-class trip delay protection and has excellent cell phone insurance.
The Offer & Key Card Details
|Card Offer and Details|
This card is easily worth its annual fee for anyone who travels enough to value the travel reimbursements and 10K anniversary miles around face value. The fact that it also comes with a great welcome bonus and excellent benefits just strengthen the value proposition (and indeed my opinion about it changed after giving it a second look and we compared it to the competition in-depth on the podcast).
Many readers were curious about details of protections like trip delay and cancellation insurance as well as cell phone protection. Here are some useful tidbits regarding those benefits:
- Trip delay protection kicks in after six hours (up to $500 per ticket)
- Trip delay protection requires having paid in part with the card (so paying award taxes should activate the protection)
- Trip cancellation protection up to $2,000 per person for common carrier fares
- Purchase security offers up to $10K per claim and up to $50K per cardholder for items stolen or damaged in the first 90 days
- Return protection has fairly low maximums: up to $300 per claim and $1,000 per cardholder (note that this benefit and purchase security do not specify that the limits are per year but rather per cardholder)
- Rental car CDW is primary and up to $75K
- Cell phone protection covers up to $800 per claim with a $50 deductible up to 2 claims per year
Those benefits certainly make it competitive with other ultra-premium cards. You can find the full Guide to Benefits here.
One interesting tidbit on the cell phone coverage is the way it is worded could use a little improvement. Most credit cards that cover cell phone insurance require that you pay the entire bill with your card (and then you receive coverage starting on the 1st of the next calendar month after paying the bill). If you read the entire terms of coverage on the Venture X card, you’ll see that you do indeed need to pay the full bill with the card to get coverage. However, this section made me question that for moment:
When does it apply?
Cellular Telephone Protection applies when You make Your
monthly cellular wireless phone bill payment with Your eligible
card. Coverage begins the first day of the calendar month
following a payment of the cellular wireless phone bill.
If You fail to make a cellular wireless phone bill payment in a
particular month, Your coverage will be suspended. Coverage
will resume on the first day of the calendar month after the
date of any future cellular wireless phone bill payment made
with the eligible card.
“A” payment and “any future cellular wireless phone bill payment” led me to momentarily think that any payment amount would suffice (even a partial payment since that technically fits my definition of “any” payment).
However, in the section about documents you’ll need to submit to make a claim, see this bullet point:
• A copy of Your cellular wireless service provider billing
statement demonstrating that the entire monthly payment
for the cellular wireless phone bill was made the month
prior to the date of damage or theft and has been paid with
the eligible card.
Despite semi-ambiguous wording farther up, the claim requirements make it sound to me as though you will indeed need to have paid the entire bill with your card. That means sacrificing better rewards with other cards. Still, with the year I’ve had with cell phone claims, I’d be considering the Venture X if I weren’t using a Platinum card right now.
The Venture X card is a solid card. Data points from comments I’ve seen elsewhere have been mixed, but there have been more approvals than I would have expected (including a single data point I noticed from someone who claimed to have been approved despite already having two open Capital One consumer cards). With 100K transferable miles on the table, this one may well be worth a swing. I had hopes to upgrade one of our household cards to the Venture X but we may have to give it a try for the welcome bonus if I continue to see success reports of approvals.
I had hoped that maybe Capital One would surprise us with an upgrade bonus offer for existing Venture cardholders (or at least a path to upgrade easily via online account), but neither seems to be the case for me so far.