Capital One Venture X Card Review: A High-End Travel Card With Big Benefits

The Capital One Venture X Rewards Credit Card is the card issuer's entry in the premium travel credit card category, and it doesn't disappoint. It includes a big sign-up bonus for new cardholders and hundreds of dollars in travel credits. With all the benefits, this card's $395 annual fee becomes a bargain for many. Find out more in our full Capital One Venture X Rewards Credit Card review.

This credit card is a good fit for: Travelers who want a premium credit card that's easy to use and offers valuable perks.

Features and benefits

If it seems like every luxury travel card has a huge annual fee and a bunch of features you may never use, this Capital One card will be a breath of fresh air. It costs less than many of its competitors. You'll get high-value and easy-to-use travel perks, so you should have no trouble coming out ahead on that annual fee.

Premium benefits that can upgrade your travel experience

The more expensive travel credit cards aren't just about saving you money on travel, although they can certainly do that. They get you a better travel experience. This Capital One card does that with a few useful perks.

As a cardholder, you get unlimited airport lounge access for yourself and up to two guests. This includes access to Capital One Lounges, as well as lounges in the Priority Pass and Plaza Premium programs. I use this every time I fly, and it makes waiting at the airport so much more enjoyable.

This card offers a credit of up to $100 to cover the cost of a Global Entry or TSA PreCheck membership. The wait time's longer for a Global Entry interview, but if you're approved for that program, you also get TSA PreCheck. Going through airport security still isn't fun, but it's faster, and you get to keep your shoes on.

You can get extra perks at upscale hotels if you book through Capital One Travel. This card provides access to two curated hotel collections, and complimentary benefits with each one:

• Premier Collection: A collection offering luxury hotel stays. As a cardholder, you get a $100 experience credit to use during your stay, daily breakfast for two, room upgrades when available, early check-in and late checkout when available, and complimentary wifi.
• Lifestyle Collection: A collection offering stylish and unique hotels. As a cardholder, you get a $50 experience credit to use during your stay, room upgrades when available, early check-in and late checkout when available, and complimentary wifi.

Be sure to check out the full terms and conditions for Premier Collection and Capital One Travel.

Pays for itself without making you jump through hoops

Some credit cards with annual fees pay for themselves, but only if you use a complicated mix of monthly, quarterly, and yearly spending credits. It's one of my biggest credit card pet peeves: Feeling like I need to keep track of all kinds of credits to get my money's worth.

It's also why I love this Capital One card. The annual fee is $395, and you can come out ahead on that with only two of this card's annual benefits:

• $300 annual travel credit: You receive this on bookings with Capital One Travel, so it's easy to save $300 a year on travel.
• 10,000 bonus miles every account anniversary: Starting on your first anniversary as a cardholder, you'll receive 10,000 bonus miles. One of the ways to redeem them is for travel purchases at $0.01 per mile. If you do that, then 10,000 miles could save you $100.

That adds up to $400 in travel savings every year. Before using any of the other perks, you've already saved more than the cost of the annual fee. It's also worth mentioning this card's sign-up bonus of 75,000 Miles after you spend $4,000 in the first 3 months, which gives it even more value upfront.

To top it off, you can add authorized users free of charge, and they get their own airport lounge access. Some cards charge $75 or more for each authorized user. It's always nice when you can get additional cards for your spouse or children without paying extra.

Unlimited double miles: A card you can use anywhere

Instead of loading this card with bonus categories, Capital One takes a different approach. This card earns an unlimited 2X miles per $1 on purchases. It earns more on Capital One Travel bookings: 5X miles on flights and 10X miles on hotels and rental cars.

Most travel cards have more bonus categories, but they earn a normal rate of 1x points/miles everywhere else. That means they're not the best choice for everyday spending outside of their bonus categories.

With this Capital One card, you don't need to remember a bunch of bonus categories or carry a wallet full of different cards. No matter where you use it, you'll get a reasonable rate of 2X miles. It's the card I use most often for that reason.

A much improved travel rewards program that can get you around the world

Capital One's travel rewards program has gotten a lot better over the years. You've always been able to redeem Venture miles at $0.01 per mile toward travel. For example, if you have 75,000 miles, you can use them to cover $750 in travel purchases made on your card.

You can also transfer Venture miles to over 15 airline and hotel loyalty programs. Transfers to airline partners, in particular, are a great way to save on flights by booking with miles. Here are a few examples with Capital One's travel partners:

• The Avianca LifeMiles program is a hidden gem. You could use it to fly business-class to Colombia (the "eje cafetero," Colombia's coffee region, is beautiful and well worth the visit). This frequent flyer program can also be used to book flights with Avianca's partners, a long list that includes United and Lufthansa.
• The British Airways Executive Club gets you access to a massive network of routes from that airline and its partners. It also uses a distance-based award chart, so you can score deals on short-haul flights.
• The Flying Blue program often has reasonable award airfare to and around Europe. It's headed by Air France and KLM, flag carrier of the Netherlands. If you've always wanted to see Paris or Amsterdam, this program could get you there.

Drawbacks to know about

The Capital One Venture X Rewards Credit Card doesn't have any serious issues. But there are a couple of areas where it doesn't quite measure up to the competition. While they won't be an issue for everyone, they could be important if you have a few great credit cards you're considering, and it's a close race.

Weak bonus categories slow down your earnings

You won't earn bonus rewards on your regular expenses or much of your travel spending with this card. It only earns bonus points when you book through Capital One Travel.

Other travel cards have much more useful bonus categories. There are cards that earn 3x points or more on airfare, hotels, dining, and even travel as a whole, to give you a few examples. These are opportunities to earn more rewards, especially if you have high spending in a card's bonus categories.

Now, to be fair, those cards normally also have a standard, non-bonus rate of 1x points/miles per $1. With this Capital One card, you're basically trading bonus categories for a higher rate of 2X miles in every category.

Miles aren't as useful as what other card issuers offer

The other drawback that I see mentioned often is this card's miles. They're certainly useful, since you can transfer them or redeem them for travel at $0.01 per mile.

But Chase and American Express have some advantages in this area. Like Capital One, they let you transfer your rewards, only their travel partners are better. Most importantly, they're partnered with U.S. airlines. You can't transfer Capital One Venture miles to any U.S. airlines, such as Delta, United, or Southwest.

The Chase Sapphire cards also let you redeem points for travel bookings through Chase Ultimate Rewards. You get $0.0125 to $0.015 per point this way -- 25% to 50% more value than Capital One offers.

Capital One's redemption options are good enough. But there's still a strong argument that Chase and American Express have more to offer there.

A FICO® Score of 700 or higher is recommended when applying for the Capital One Venture X Rewards Credit Card. Capital One has designed this credit card for consumers who have excellent credit.

Your credit score is one of many factors reviewed during a credit card application, so it's not the only thing that matters. It's possible to be approved for a card even when your score isn't in the recommended range or to be denied even though your credit score is high enough.

You travel multiple times per year and you're looking for a credit card that combines luxury benefits with ease of use.

Practically anyone who travels regularly and has an open space in their wallet can benefit from the Capital One Venture X Rewards Credit Card. It has the kind of premium perks that only the best travel credit cards offer, including a massive sign-up bonus. At the same time, we consider it a card that pays for itself every year just through the $300 travel credit and anniversary bonus.

If you're in the market for a travel credit card, the Capital One Venture X Rewards Credit Card should be one that you strongly consider.

Our credit card methodology

At The Motley Fool Ascent, we rate credit cards on a five-star scale (1 = poor, 5 = best). Our rating criteria includes rewards rates, welcome bonuses, fees, and perks like travel credits and 0% intro APR offers to evaluate our ratings.

We combine these factors with an evaluation of brand reputation and customer satisfaction to ensure you're getting the best card recommendations. Learn more about how The Ascent rates credit cards.