It’s not often that a new credit card really wows me. Since I see so many, I’m used to all the typical perks at this point. the Capital One Venture X Rewards Credit Card is the exception to the rule.
Capital One launched this travel card in November 2021, and it exceeded all of my expectations. I received the card shortly after launch, and it’s going to save me over $1,700 in 2022. Here’s how.
Breaking down how much you can save with the Capital One Venture X
Before we get into what the Capital One Venture X Rewards credit card offers, let’s start with how much it costs. The annual membership fee is $395. It might sound expensive, but it’s actually pretty easy to get over $395 out of this card every year.
For a complete idea of how much you can save in a year, I’ll go over its best features and the value of each.
100,000 bonus miles
The most important advantage of this card is its registration bonus. New cardholders earn 100,000 bonus miles after spending $10,000 on purchases in the first six months.
Miles Capital One Venture are redeemable for any travel purchase you make at the rate of $0.01 per mile. So if you use them that way, they can cover $1,000 in travel expenses. You also have the option of transferring miles to Capital One travel partners.
$300 annual travel credit
Here’s a big part of why that $395 annual fee isn’t as expensive as it looks. Each year, you will receive up to $300 in statement credits on bookings made through Capital One Travel.
Capital One Travel offers flight, hotel and car rental reservations. After a relaunch in 2021, the travel portal has a clean and intuitive design. Its results are generally on par with other major travel booking portals, so you should have no trouble using the $300 in annual credits on this card.
$200 vacation rental credit
As part of a limited time offer, you get up to $200 in statement credits for vacation rentals charged to your card in the first year. Eligible vacation rental platforms include Airbnb, VRBO, Turnkey, and Vacasa. This is another credit that won’t be difficult for frequent travelers to use.
Global Entry/TSA PreCheck Credit
With this Capital One card, you get a membership fee credit of up to $100 for Global Entry or $85 for TSA PreCheck every four years. These are two popular programs for trusted travelers that help you get through airport security faster.
Choose between Global Entry and TSA PreCheck is not a difficult decision. Global Entry also gives you a TSA PreCheck membership, making it the obvious choice.
Access to the airport lounge
As a cardholder, you can enroll in Priority Pass and gain unlimited access to its lounge program, which offers more than 1,300 airport lounges. If you purchased it yourself, a Priority Pass subscription with unlimited lounge access currently costs $429 per year.
You also have access to Capital One lounges. There’s only one open at the moment, but Capital One has two more set to launch in 2022.
2x to 10x miles on purchases
When you book through Capital One Travel, this card earns you 10 miles per dollar spent on hotels and rental cars and 5 miles per dollar on flights. Other qualifying purchases earn 2 miles per dollar.
Remember, miles are worth $0.01 each for travel. This means you earn at least 2% on your purchases, plus 5% to 10% through Capital One Travel. High rates like these are a great way to earn more travel rewards in 2022.
10,000 anniversary bonus miles
Every account year you have this card, Capital One will give you 10,000 bonus miles. It’s a $100 value. Combined with this $300 travel credit, you can save at least $400 per year on these two benefits alone, already enough to cover annual costs.
Add it up
Now I will calculate how much this travel credit card will save me the first year. I’m only going to include perks that are easy to turn into money savings on travel purchases, which means I’m leaving out airport lounge access. Since the 10,000 anniversary miles don’t kick in until the end of your account’s first year, I’ll leave that out as well.
The Capital One Venture X Rewards credit card will save me:
- $1,000 traveling with the 100,000 mile sign-up bonus
- $300 on Capital One Travel bookings
- $200 on vacation rental bookings
- $100 on a Global Entry subscription
- $500 on the trips of the miles that I will earn on my expenses
For the latter, I’ve gone with a conservative estimate of $25,000 in card spend this year and a reward rate of 2 miles for $1 on it all. It would get me 50,000 miles, worth $500 for the trip.
That’s a total of $2,100, and after subtracting the annual fee of $395, I get $1,705 worth of this Capital One card.
Should you apply for the Capital One Venture X?
The Capital One Venture X Rewards credit card is the only card I now recommend to almost anyone looking to open a travel card.
While many of best credit cards become more and more expensive, this Capital One card is cheaper than other premium cards. It is also cost effective with some easy to use perks. For travel enthusiasts, it is definitely worth a visit.
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