If you’ve ever read any of my writing, you probably already know that I’m a credit card fiend. The more expensive the annual fee, the better. Load me up because I’m here for that coupon book of credits.
All jokes aside, I really do have more credit cards than is probably healthy. So, it might be a little surprising to you to learn that I don’t have one of the most popular premium cards: the Capital One Venture X Rewards Credit Card.
More than that, I’ll probably never end up having one — here’s why.
The Benefits Aren’t Worth the Fees
There’s no denying that the Capital One Venture X card is great, especially when you compare it to other luxury travel credit cards. But the issue with charging a lower $395 annual fee () than competitors is that, well, it also features fewer benefits.
To help offset that ongoing cost, the Capital One Venture X card also offers a $300 annual travel credit. However, unlike the travel credit offered by the competing Chase Sapphire Reserve®, this credit can only be applied to purchases within the Capital One travel portal.
Unfortunately, booking with a third-party portal opens you up to a whole host of issues, including the inability to earn points with hotel stays and bad customer service if your flights change. This means that although I could take advantage of the $300 travel credit, it’s always going to be a worse option than booking directly with a travel provider.
The Capital One Venture X card also offers a 10,000-mile anniversary bonus for every year you hold the card. Since we value Capital One Miles at 1.8 cents each, this could potentially be worth $180 in value alone. That’s a huge reason why this card is excellent for so many people.
But combined with the limited $300 travel credit, it just doesn’t make sense to me.
Instead, I’d rather save the money and opt for the less expensive Capital One Venture Rewards Credit Card … which leads me to my next point.
I Already Have the Capital One Venture Card
The Capital One Venture card is one of my favorite credit cards and maintains a permanent spot in my wallet. This is because it earns 2x Capital One Miles for every $1 spent, no matter where I’m shopping. I make a lot of purchases at Amazon and Walmart, so this card makes sense for me.
The Capital One Venture X card also earns 2x miles per $1 spent on purchases, but the Capital One Venture card is cheaper. I pay just a $95 annual fee () for this benefit.
Hot Tip: Of course, I may need to reassess my strategy as the Capital One Venture card has shifted payment networks from a Visa to a Mastercard. How else am I going to pay for my Costco hauls?
I’ll Lose the Capital One Venture X Card’s Welcome Offer
I’ve gotten a few targeted offers from Capital One about upgrading my Capital One Venture card to a Capital One Venture X card. But one of the biggest reasons I won’t bite is because it’ll lose me the welcome bonus offer on the latter: Earn 75,000 miles when you spend $4,000 on purchases in the first 3 months.
If I were to upgrade, rather than apply for the Capital One Venture X card outright, I’d lose that offer.
Capital One also tends to be a bit more nit-picky than other card issuers when it comes to recent inquiries and how many cards you’ve opened in recent months. This means they probably wouldn’t like it if I were to complete a new application.
My Bonused Spending Goes Elsewhere
Remember how I mentioned that I have a couple dozen credit cards? That means that no matter what I’m buying, I’m making sure that I’m using a credit card to maximize my earnings.
- Supermarkets? It’s time to throw down the American Express® Gold Card.
- Flights? The Platinum Card® from American Express is making an appearance.
- Dining? Let me dig out my trusty Citi Prestige® Card.
This leaves very little room for me to use the Capital One Venture X card. Sure, it can earn huge bonuses on travel booked with the portal, but so can my Chase Sapphire Reserve card. As I noted above, that’s something I avoid if at all possible.
Beyond this, my Capital One Venture card earns me the same miles on everyday purchases for far less.
My Other Cards Cover Travel Insurance
The Capital One Venture X card also excels when it comes to travel insurance, since it offers some of the most comprehensive benefits available to cardholders. Again, that’s great for people without other credit cards on which to rely.
However, I already have the Chase Sapphire Reserve card, which not only beats out the Capital One Venture X card’s insurance it arguably offers the best complimentary travel insurance benefits. I don’t need to use another card when the Chase Sapphire Reserve card provides:
- Primary rental car insurance
- Baggage insurance (lost, damaged, and delayed)
- Trip cancellation insurance
- Trip interruption insurance
- Trip delay insurance
- Emergency medical insurance
The Chase Sapphire Reserve card includes all of the above while also allowing me to earn 3x Ultimate Rewards points per $1 on my travel purchases. Compare this to the 2x miles from Capital One, and you can see why I’d opt for the former.
Hot Tip: Check out our ultimate guide on the best credit cards for travel insurance coverage.
Final Thoughts
I think I’ve made a pretty fair case for why the Capital One Venture X card doesn’t work for me. Yes, it’s a premium card with solid offerings (and I didn’t even touch on airport lounge access), but there’s simply no hole in my wallet that the card can fill.
That being said, for those looking for a one-stop option at a lower price point than other premium travel cards, the Capital One Venture X card can make a lot of sense. For me, however, I’m sticking with the Capital One Venture card.
For Capital One products listed on this page, some of the above benefits are provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply.
The information regarding the Capital One Venture Rewards Credit Card was independently collected by Upgraded Points and not provided nor reviewed by the issuer.
The information regarding the Capital One Venture X Rewards Credit Card was independently collected by Upgraded Points and not provided nor reviewed by the issuer.
The information for the Citi Prestige® Card has been collected independently by Upgraded Points and not provided nor reviewed by the issuer.
For rates and fees of the American Express® Gold Card, clickhere.
For rates and fees of The Platinum Card® from American Express, click here.
