We recently witnessed the launch of the new Capital One Venture X Rewards credit card, which is Capital One’s new premium credit card.
Although the card has an annual fee of $ 395, there are so many reasons to get this card, from the 100,000 mile welcome bonus to ongoing benefits like a $ 300 annual travel credit, bonus miles from 10,000 anniversary, Priority Pass membership, access to Priority Pass Lounges and incredible benefits for authorized users. I applied for this card and was instantly approved, and I know there are a lot of OMAAT readers in the same boat.
In this article, I wanted to focus on the one perk that should most help offset Capital One Venture X’s annual fee, which is the card’s $ 300 annual travel credit. Let’s get into all the details of how it works.
How does the Venture X $ 300 annual travel credit work?
The Capital One Venture X offers an annual travel credit of $ 300, which can be redeemed through Capital One Travel. Here’s what you need to know about it:
- Credit applies to each cardholder’s year (or anniversary year, if you prefer), including the year in which you open the card; the credit schedule is not based on the calendar year
- Credit can be used on one or more transactions, until the limit of $ 300 is reached
- No registration is required to use the annual travel credit of $ 300
- Any purchase through Capital One Travel is eligible to use this credit, so you can organize all kinds of trips this way.
- Credit will typically appear in your account within one to seven business days of making a qualifying purchase.
- If the Capital One Travel credit purchase is canceled, the statement credit may be withdrawn from your account, but may be reissued on any past or future Capital One Travel purchases up to $ 300.
What trips can you book through Capital One Travel?
Capital One Travel is Capital One’s travel portal, as you might have guessed from the name. The portal is powered by Hopper, and Capital One basically acts as a travel agent here. You can use Capital One Travel to book everything from flights to hotels to car rentals.
In general, I’m not a huge fan of travel portals, although in my opinion Capital One Travel is the best travel portal of all the major credit card companies. You can easily search for flights, hotels and car rentals.
The portal has some cool features. For example, when searching for flights, there is a calendar showing the dates with the best prices, which I would like us to see more consistently from airlines.
Likewise, the option to filter the results is great, better than with any other portal in my opinion.
If you wanted to apply your $ 300 annual travel credit to a purchase (such as a flight), you would just want to make the purchase with your card, then the statement credit will automatically display.
Keep in mind that the Venture X also rewards purchases through Capital One Travel, so you can earn a lot of miles for any expense besides the credit amount. The menu offers:
- 10x Venture Miles on hotels and rental cars booked through Capital One Travel
- 5x Venture Miles on flights booked through Capital One Travel
But isn’t booking through credit card travel portals boring?
Some people are probably thinking, “I don’t really want to book through a travel portal. ” I hear you. To be honest, I rarely use travel portals. Even though a travel portal is great, there are downsides to using them:
- On the flight side, in the event of a schedule change or cancellation desire, it may be easier to do so if you book directly, especially at a time when airlines largely allow free ticket changes.
- On the hotel side, you usually don’t receive elite perks or earn points when booking through a third party
- When it comes to car rental, there are often discount codes available online that cannot be redeemed if you book through a portal.
That being said, I still rate this credit fairly close to face value and will have no problem using it. What is my strategy? To keep things simple, I’ll probably book just one flight that costs over $ 300 around here at least once a year, and that’ll get my money back.
You still usually earn points and receive elite perks when you book flights through a portal, and the prices are almost always the same. The opportunity cost of booking in this way is therefore limited.
The way I see it, having to book through Capital One Travel isn’t a big deal or anything that prevents maximizing that, and I will have no problem maximizing that. Even as someone generally opposed to using portals, I don’t see this as a big deal.
How does this compare to travel credits on other cards?
How does Capital One Venture X’s $ 300 annual travel credit compare to credits issued by other premium cards? Just to compare:
I would say Capital One Travel Credit is not as easy to use as Chase Travel Credit, but is much easier to use than American Express Travel Credit.
Now, that doesn’t tell the whole story of card value propositions, however:
- Venture X has by far the lowest annual fee of the three cards
- The $ 300 annual travel credit is just one of the annual benefits the card offers. 1: 1
- For savvy travelers, the $ 300 travel credit plus 10,000 bonus miles should be worth more than the card’s $ 395 annual fee, regardless of anything else.
At the end of the line
The new Capital One Venture X is incredibly lucrative. The card has an annual fee of $ 395, and one of the main things that offsets that fee is the $ 300 annual travel credit, which can be applied to virtually any purchase with Capital One Travel.
While there might be a slight issue for some when using a portal, it really shouldn’t be that hard to maximize on a flight, hotel, or car rental. Personally, I plan to book a flight of $ 300 and up each year through the portal, and that will give me the $ 300 credit on the statement.
For other Venture X cardholders, what’s your plan for using the $ 300 annual travel credit?