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Credit card sign-up bonuses make it much easier to justify credit card annual fees for the first year, and this was certainly the case for me when I signed up for the Capital One Venture X Rewards Credit Card in December 2021. Not only does the card come with an annual travel credit, airport lounge access and a range of other important perks, but it comes with a sizable welcome bonus after meeting a reasonable minimum spending requirement.
Still, I decided to keep the Capital One Venture X when the annual fee was charged again in December. This meant paying $395 for a second year in a row without a welcome bonus to soften the blow.
But at the end of the day, I just couldn’t cancel this card. I believe its benefits are worth a lot more than the cost of the annual fee each year — even for semi-frequent travelers. Here are the six reasons I keep the Capital One Venture X open, and why I believe this premium travel credit card is one of the best options available today.
1. The $300 annual travel credit is easy to use
First off, new consumers considering the Capital One Venture X should know they can earn 75,000 miles worth $750 after spending $4,000 on purchases within three months of account opening. Even without the welcome bonus, however, it comes with an annual $300 annual travel credit that can be redeemed via the Capital One Travel portal.
Since Capital One Travel lets you book airfare, hotels and car rentals with cash in addition to miles, using this credit each year is a breeze. I used my hotel credit for a two-night hotel stay at a property in Bruges, Belgium in May of this year, which worked great because the cost for two nights came in at around $375. I charged the entire booking to my Capital One Venture X and watched the $300 travel credit amount drop off my account in just a few weeks. Note: The $300 credit is now applied on your booking as a coupon and is taken off the travel purchase immediately.
2. You get 10,000 bonus miles every year
In addition to offering a $300 annual travel credit, the Capital One Venture X gives you 10,000 bonus Capital One miles each year you renew your card. These miles are worth around $100 in travel if redeemed toward travel purchases. In turn, this means the bonus miles and annual travel credit combined are worth at least $400 in total — $5 more than the card’s $395 annual fee.
The fact that I get at least $400 in value with the Capital One Venture X through these two benefits played a big role in my decision to pay the annual fee for another year. I was also able to use the 10,000 anniversary bonus miles right away, thus helping to offset the cost of the annual fee right off the bat.
3. The Venture X offers lots of airport lounge options
The Capital One Venture X comes with Priority Pass Select airport lounge membership — which I already have through the Chase Sapphire Reserve®. However, having the Venture X in my wallet means I can access even more airport lounges.
I’ve enjoyed the Capital One Lounge in Dallas airport three different times, and with multiple guests each time (you get two free guests with the card). Each visit helped me save at least $20 or $30 per person in food and drinks, especially since one of my visits was over dinnertime and my entire family had a full meal.
While there is only one Capital One Lounge currently open, more are on the way. The bank is in the midst of rolling out two additional airport lounges in Denver International Airport (DEN) and Washington-Dulles International Airport (IAD)
4. The base earning rate of 2X miles is exceptional for non-bonus spending
The Capital One Venture X offers some solid earning rates for travel booked through Capital One Travel. This includes earning 10 miles per dollar on hotels and car rentals and 5 miles per dollar on airfare booked through the platform.
However, I mostly use this card for regular, everyday purchases that don’t earn bonus rewards with other rewards credit cards since it offers a minimum of 2 miles per dollar on everything you buy. In fact, I frequently use this card to pay for utility bills, clothing and other miscellaneous spending. These purchases would only earn 1 point per dollar with the Chase Sapphire Reserve or 1.5% cash back with my Chase Freedom Unlimited®.
5. I use several Capital One transfer partners
I also like that Capital One offers a range of popular airline and hotel transfer partners. Most transfers process at a 1:1 transfer ratio as well, including partners use frequently. While I have been known to use miles to book travel through the Capital One Travel portal, I often transfer my Capital One miles to Air France-KLM Flying Blue, British Airways Executive Club and Choice Privileges.
This means the Capital One Venture X offers yet another way to earn transferable miles for airfare and hotel stays around the globe. I also like the fact that many Capital One partners overlap with partners of American Express Membership Rewards and Chase Ultimate Rewards since this makes it easier to earn points across multiple cards and pool them for premium travel redemptions.
You may want to transfer miles to transfer partners to book premium airfare and hotel rooms at a fraction of the cost of booking through the portal. For example, right now you can book a one-way business class flight from Newark to Budapest via Paris for 55,000 Capital One miles transferred to Flying Blue, plus $260.33 in taxes and fees. This ticket could easily cost over $2,000 if booked via the Capital One Travel portal.
6. This card is the only reason I got tickets to the Taylor Swift Eras tour
Remember the chaos that occurrred when Taylor Swift announced her new Eras tour in late 2022, and when the verified fan sale collapsed the Ticketmaster website? Individuals with a Capital One credit card were able to try their luck in the ticket queue once the original verified fan sale ended, and I was one of the people who snagged tickets before they were gone.
Having access to Capital One Entertainment options and special events is another reason I think this card is well worth the annual fee — and my luck getting tickets to the Eras tour just proves it. While my concert tickets were far from free, having a Capital One Venture X made it possible for me to pay the regular ticket price for four seventh-row tickets. That’s pretty amazing since having a Capital One credit card was all it took to qualify.
You don’t need a Capital One Venture X to use Capital One Entertainment either. Anyone with am eligible rewards-earning Capital One credit card — including no annual fee cards like the Capital One Quicksilver Cash Rewards Credit Card and the Capital One VentureOne Rewards Credit Card — are also eligible to use the platform.
Bottom line
With a generous welcome bonus, a great earning rate on travel and regular spending, a $300 annual travel credit, airport lounge access and a 10,000-mile anniversary bonus, there’s a lot to like about the Capital One Venture X. Ultimately, this is why I think the $395 annual fee is well worth it after the first year, and why renewing this card was a no-brainer for my family.
If you’re curious about this card, make sure to compare it to similar travel credit cards to ensure it’s the right option for your goals. When you do, you’ll find that this premium travel credit card charges a lower annual fee than competing cards like the Chase Sapphire Reserve and The Platinum Card® from American Express, and that its simple rewards structure and cardholder benefits make it a good deal for the long run.
Learn more and apply for the Capital One Venture X Rewards Credit Card.
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