Capital One Venture X live, benefits as good as hoped


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
Capital One Venture X Rewards Credit Card
100K miles + Up to $200 statement credit
Earn a one-time bonus of 100K Capital One miles after $10K spend in the first 6 months + a limited-time bonus of up to $200 in statement credits for vacation rentals charged to your card in the first year

$395 Annual Fee

FM Mini Review: This card offers annual rebates that easily mitigate the fee for those who travel often and could be worth it for the lounge access and travel protections given the cost/benefit ratio. Authorized users are free and also get access to perks like Priority Pass, Capital One Lounges, and Hertz President's Circle status. 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 big advantage over cash back: Capital One allows transfering their "miles" to airline miles & hotel points.

Card Type: Visa Infinite


Earning rate: 10X on hotels and rental cars booked via Capital One Travel ⚬ 5x on flights booked via Capital One travel. ⚬ 2X everywhere else.

Noteworthy perks: Up to $300 in statement credits annually for bookings made through Capital One Travel ⚬ 10,000 bonus miles each year starting at first anniversary ⚬ Receive up to $100 application fee credit for Global Entry or TSA Pre✓® ⚬ Cell phone insurance ⚬ Trip delay / cancellation insurance ⚬ Primary CDW coverage Redeem miles for travel at value of 1 cent per mile ⚬ Convert "miles" to airline miles & hotel points ⚬ No foreign transaction fees

Quick Thoughts

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.

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okay, just read more fine print. The 10X on rental and travel is great, if you can book it through Capital One travel. But if booked through, say, a company travel portal, this benefit is useless. 2X everywhere else is nice, but I think the best option right now for a new card is the SWA card with its 100K sign-up that makes you likely to hit companion pass (clearly only ideal for those who fly SWA a lot)

In terms of non SWA cards, I think the Plat and Chase Sapphire regular have the X beat.

Am I insane?


haha. I think if one were to apply for the SWA card and this, they should apply for SWA first given the 5/24?

Also, I’ve never had a Capital One card. Does it offer “offers” like Chase/Amex?


I don’t know. Seems a bit underwhelming. The 200 credit for “vacation rentals” likely does not apply to hotels. The annual fee requires booking through Capital One, rather than direct at a merchant site.

Does the Venture X earn a straight 1 point per dollar?


Hertz President’s Circle is a nice option. Do you have to book through Capital One to get it? Any other cards offer something similar? (I used the work around with National to match to Five Star).

Larry K

Nick — based n the AMA last night it sounds like you have changed your thoughts on cell phone coverage from the last time you guys compared all the options earlier this year. With this new cell coverage entrant in the market and your thoughts on how to get coverage even when getting statement credits, I wonder if an updated comparison would be good. The various coverages are very confusing.

Larry K

I was having a little trouble wrapping my head around what you were saying about how you time the statement credits. Though I guess I could see if maybe not wanting to talk too much about that in a more public way might be a good thing.


I’ve been searching around various forums, but I haven’t found what I’m looking for yet: Are there data points for someone who successfully opened a Venture vanilla card with the 100K bonus within the past 12 months (that is, someone still working on their second 50K bonus after earning the initial 50K from $3K) who then applies for the new Venture X and gets approved for that also?

I know some long-holding Venture card holders (those who’ve had it more than a year) have been approved for Venture X. I’m asking about a subset of the Venture vanilla club.


Player 2 wife approved 805CS with 6 new cards in last 12 months.


I was offered an upgrade of my long standing venture card that I hardly use anymore but a service representative told me that I would only receive the sign on bonus if I did a new application for the venture X in addition to the current card. Was unite clear that I would not receive the sign on bonus if I upgraded the existing card. A new application for the venture X in addition to my current venture card was successful.


Great credit score and capital one card history… good income, etc. Did not get approved.


Any guesses how long the 100k + $200 welcome bonus will last?

With a $10k spend requirement, I’d like to hold off for a couple months until my 10x Amex Plat dining and small business runs out and I’ve already hit the $8k on my Aspire for the Hilton night. (The delay would also let a couple inquiries drop off my reports.)


Any experience with how easy, hard or expensive it is to use the Capital One Travel to be able to get the $300 travel benefit? Thinking of issues with other bank based travel bookers (higher prices, limited offerings etc.)


I have had the Venture card for years, If I get approved for the X, any reason to keep both?


Thanks. Do points from X and Venture pool together?

Larry K

It’s pretty easy to transfer C1 “miles” among accounts online and you can also transfer them to another person’s account. It’s a huge benefit of C1. I hope it doesn’t change with all the attention that the X card is likely to create for C1. Others would have to say for sure but I assume that once Savor cash is turned into miles you can use them and transfer them just like any other miles.


Holy approval, Batman! I was instantly approved! I just assumed Capital One would always hate me!

Larry K

Not sure if this has been reported much yet (sorry if FM already had it but I don’t think I saw it). C1 appears to have issued pricing rules on its lounges. Venture X gets unlimited free visits plus up to two free guests and $45 for additional guests. Spark and One get two free visits each year and $45 for guests or additional visits beyond the first two freebies.


How unique is Greg’s story of his C1 shutdown? Assuming that type of thing could occur to someone, how long would one hold on to your other premium cards (CSR etc) before closing/product changing? Wonder about the scenario getting approved for the Venture X, then PC’ing the CSR, but then having the C1 card shut down, and then being without another key premium card that was replaced. Just a wandering thought


I would wait 18-24 months from launch. I’m not really focused on shutdowns but cutbacks to benefits and pricing hikes. This card is IMHO not financially sustainable in the medium to long term. I’m getting some serious citi prestige vibes.


Shutdown happened to my family as well many years ago. All the accounts my wife and I had with Cap 1 were closed, w/o reason. That included 2 checking accounts and 2 credit cards.

Back then, people was talking about possible using Bill Pay service was the cause, but not for sure.


I am waiting on 2 things before deciding what to do – 1) to see on 11/23 what BofA has in mind for their new premium card since I currently have Platinum Honors, and 2) I don’t want any more travel credit as I already have $1,300 unused expiring credits in 2022 spread across UA, DL and AA. Plus 4 unused hotel certificates. So not sure how I will use another $300 travel credits on top of all that.


Completely agree on #1. Near retirement and all in with ML, hoping for a nice surprise on the 23rd!