Reader Jan reached out to us last week to give us a heads up about a little-known benefit of the Venture X Business card – Rideshare Protection.
Capital One’s website doesn’t list a Rideshare Protection benefit on the Venture X Business card page which is why it’s easy to overlook the benefit. Instead, it’s listed in the card’s benefits guide that gets mailed to cardholders.
The Venture X Business card can be issued on both the Visa and Mastercard networks and both networks carry this benefit. You can find the Visa Infinite Business benefits guide here and the Business World Elite Mastercard benefits guide here.
The benefit terms are different depending on if your card is issued by Visa or Mastercard.
Visa Rideshare Protection Benefits & Terms
The Visa benefits are more comprehensive:
- Personal Property Benefit – Up to $750 per covered accident per covered person, with a $100 deductible
- Accidental Death and Dismemberment Insurance – Up to $250,000 per covered accident per covered person, with a $100 deductible
- Accident Medical Expense Benefit – Up to $10,000 per covered accident per covered person, with a $100 deductible
You become eligible for this benefit when you pay for a portion or all of your rideshare fare with your Venture X Business card. The benefit covers both you and any of your traveling companions provided your name is embossed on the card.
With regards to the Personal Property Benefit, that covers the replacement of items that are lost, damaged or totally destroyed while using a rideshare service. You have to report its loss/damage to either the police or rideshare company within 24 hours of the incident.
As would be expected, there are lots more terms and conditions of this benefit, so you can check those here.
Mastercard Rideshare Protection Benefits & Terms
The Rideshare Protection benefit on a Venture X Business card issued on the Mastercard network is more limited. You get similarly valued personal property coverage to Visa as you have cover up to $750 per trip with a $100 deductible per claim. However, it only covers you for items that are lost or stolen – not damaged – and also has the following additional terms:
The value of the amount claimed is the lesser of 1) the actual purchase price of the item; or 2) the actual cash value at the time of loss or theft of the item with deduction for depreciation; or 3) the cost to replace the item. There is a maximum of two (2) claim(s) and $1,500 per twelve (12) month period.
You have to report the lost or stolen items to the rideshare company within 24 hours and get a police report too where applicable.
As with the Visa benefit, there’s a lot more to the terms which you can check here.
Quick Thoughts
When I first read Jan’s email, I thought that this Rideshare Protection benefit wasn’t all that exciting. That’s because paying with a Venture X Business card means you’d be forgoing the potential savings of paying with Uber or Lyft cards bought at a discount, or better earning rates on other credit cards (e.g. the Chase Sapphire Reserve card offers 10x on Lyft rides through the end of March 2025).
However, the more I thought about it, the better this benefit appears – particularly for those with the Visa version of the card as it has superior benefits. The reason why is that both Uber and Lyft allow you to change your payment method after your ride.
The ability to change payment method differs greatly between those two rideshare services. With Uber, you can change your payment method up to 30 days after your ride, or up to 60 days after for business rides. With Lyft, you can only change your payment method immediately after your ride and before you rate your driver – after that it’s too late.
For Venture X Business cardholders, that means you can pay for your Uber or Lyft rides with the card. Then, once the ride is over safely and you’ve verified that you have all your possessions and none of them are damaged, you can switch the payment to either a discounted gift card or a different payment method that offers better rewards.
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Stephen, thanks for this. The FM team precipitates thinking . . . and creativity.