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Capital One's first credit card with travel rewards and premium benefits - the Capital One Venture X Rewards Credit Card.
Capital One has been constantly improving its travel credit cards making them more competitive. And the Venture X card allows them to compete with such big players as the Amex Platinum and the Chase Sapphire Reserve.
The Venture X card comes with a $395 annual fee, which can be easily offset every year if you use the credit card benefits to the fullest. Here are the card benefits at a glance:
- Welcome bonus: Earn 75,000 bonus miles when you spend $4,000 on purchases in the first 3 months from account opening, equal to $750 in travel.
- Anniversary bonus: Get 10,000 bonus miles (equal to $100 towards travel) every year, starting on your first anniversary.
- Earning: Earn unlimited 10X miles on hotels and rental cars booked through Capital One Travel and 5X miles on flights booked through Capital One Travel.
- Statement credit: Receive up to $300 back annually as statement credits for bookings through Capital One Travel, where you'll get Capital One's best prices on thousands of options.
- Lounge access: Unlimited complimentary access to 1,400+ lounges, including Capital One Lounges and Capital One's Partner Lounge Network worldwide.
- Global Entry & TSA PreCheck: Receive up to a $100 credit for Global Entry or TSA PreCheck®. One statement credit per account every four years.
- Authorized users: Up to four authorized users - they can enjoy benefits and you will earn rewards on every dollar they spend.
As you can see, the maximum rewards are earned through the new Capital One Travel portal. This may feel like a limitation, especially when you consider the downsides of having to use a third-party service when booking, for example, a hotel room. However, if you are not concerned with elite statuses, booking through the Capital One Travel portal makes sense.
Miles earned with the Venture X card can be redeemed for travel purchases at a rate of 1 cent apiece for any travel purchase made with the card. But better redemption rates can be achieved when you transfer miles to Capital One's 15+ partners. Most transfers to partners are at a 1-to-1 ratio, meaning you won't lose in value and may even benefit from transferring miles to partners.
With so many premium credit cards that have high annual fees, the Capital One Venture X Rewards Credit Card looks very impressive and frequent travelers may eventually end up loving it.