The Capital One Venture X Rewards Credit Card has received plenty of fanfare since it launched last year.
Capital One finally made a serious effort entering the premium travel credit card world dominated by American Express and Chase. Venture X offers access to its own Capital One airport clubs (one location and counting), plus over one hundred Plaza Premium lounges and a complimentary Priority Pass Select membership.
Plus, it offers good incentives for people who actually use their card benefits for travel.
What is the Capital One Venture X Rewards Credit Card’s Annual Fee?
The Capital One Venture X Rewards Credit Card’s annual fee is $395. That’s definitely on the expensive side of things. But if you travel at least once or twice per year, you can come out ahead — and quite easily, at that.
Let’s check out how.
Early Spend Bonus
New applicants can earn 75,000 bonus miles (points) after spending a total of $4,000 on eligible purchases within three (3) months of card membership approval. (Learn here how to apply.)
You can transfer miles to a Capital One travel partner. Or redeem them for travel through Capital One at a rate of one mile/point = one cent. That makes those 75,000 points worth $750 in travel. So, two just over two years’ worth of the annual fee is covered right there.
Plus, the card earns 2X miles for each dollar spent on non-bonus categories. (There are two bonus categories: 10X miles on hotels & rental cars booked through Capital One Travel; 5X on flights booked through Cap One Travel.)
So, that $4,000 you spend toward the bonus earns you at least 8,000 miles. You’ll have a decent cache to start.
Yeah, yeah. But what about every year after that?
$300 Per Year: Travel Statement Credit
Each year of card membership (INCLUDING THE FIRST YEAR!), you receive $300 in statement credit for travel purchases made through Capital One Travel. (Airlines, hotels, rental cars, etc.)
I earned back all $300 at once from purchasing a Delta Air Lines trip through Capital One. (I’ll still earn elite status stuff like MQM, MQD, and MQS, plus redeemable SkyMiles.)
This benefit is per membership year — not calendar year.
$100: 10,000 Anniversary Bonus Miles
Starting your second year of card membership, Capital One will deposit 10,000 bonus miles into your account. That’s worth $100 of travel purchased through the Capital One Travel service.
That’s an annual perk you enjoy each anniversary.
I wasn’t a math major in college. But $300 travel credit + $100 to play with = $400. The annual fee is $395. So, you’re coming out five bucks ahead. And that’s on top of whatever else you earn for your purchases.
But, wait! There’s more!
$25/Year ($100 Every Four Years): Global Entry or TSA PreCheck® Credit
You’ll receive up to $100 in statement credit every four years when using your Venture X card to pay for a Global Entry or TSA PreCheck® application fee. Remember, you don’t need to be the person applying for Global Entry or TSA PreCheck. You can pay for someone else’s application fee.
YMMV: Lounge Access
Capital One Venture X Rewards Credit Card cardholders receive complimentary admission to a trio of airport lounge programs:
- Capital One Lounges
- (Currently, there’s only one open: DFW. Washington Dulles and Denver are on deck.)
- Priority Pass Select
- Includes participating airport restaurants — unlike the Amex cards’ Priority Pass Select memberships.
- Plaza Premium Lounges (see the selection here)
- This includes several Virgin Clubhouses in the United States
Cardholders may enjoy unlimited visits and bring two guests, as well.
So, lounge access can save you money on airport food and beverages.
Primary card members can add up to three additional cardholders for free — and they have access to the lounges! That’s amazing.
Remember to Use the Points and Benefits — and Pay Your Bills On Time!
Do you know how much your points, miles, and benefits are worth if you don’t use them?
Nothing. Zilch. Nada. Bupkis.
Make sure to redeem your points and use your benefits!
Plus, accruing fees and interest can end up costing you money. So, stay on top of your bill — and pay off your monthly statements completely! DON’T ACCRUE FEES AND INTEREST.
Final Approach
The Capital One Venture X Rewards Credit Card’s annual fee is $395. But the early spend bonus covers two years of that. The yearly $300 travel statement credit and 10,000 bonus miles mean you come out $5 ahead. That only works if you redeem the points/miles and use the card’s benefits — and pay your monthly bills in full and on time.
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