Capital One Launches New Premium Venture X Credit Card

Capital One has announced a new premium travel credit card, the Venture X. For a more modest annual fee than other premium cards like the Chase Sapphire Reserve and the Platinum Card from American Express, Venture X cardholders can get solid value on top of what regular Venture cardholders receive. New cardholders can earn 100,000 bonus miles and get a $200 statement credit for Airbnb, Vrbo, and other vacation rentals. The card will be open for applications starting Nov. 9, 2021.

Details on the New Capital One Venture X

In recent years, credit card issuers have upped the competition in the premium travel space. American Express, Chase, Citi, and—until recently—U.S. Bank have all offered travel-focused credit cards with luxury perks and annual fees in the hundreds of dollars.

Capital One is joining the fray with the Venture X. The card's annual fee is low compared with its competitors, but it doesn't skimp on benefits. Here's what you'll get for the card's $395 annual fee:

• Up to a $300 credit annually for bookings made on Capital One Travel.
• A 10,000-mile bonus every account anniversary, worth $100 in travel redemptions.
• Unlimited access to Capital One Lounges and the Priority Pass airport lounge network.
• Up to a $100 statement credit toward TSA PreCheck or Global Entry every four years.

Cardholders will also earn 10 miles per dollar on hotels and rental cars booked through Capital One Travel, 5 miles per dollar on flights booked through Capital One Travel, and 2 miles per dollar on all other purchases.

As a new cardholder, you'll get 100,000 bonus miles after you spend $10,000 in the first six months. Additionally, you can get up to $200 in statement credits for vacation rentals like Airbnb and Vrbo.

Is the New Capital One Venture X Right for You?

There's a lot about the new Capital One Venture X card that's appealing. For avid travelers, it won't be difficult at all to recoup the card's annual fee, and the card issuer has some of the most flexible redemption options of any travel rewards program.

But tying some of the card's best benefits to Capital One Travel is a bit concerning. While the card issuer touts that customers can save an average of 15% on flights, booking travel through an online travel agency instead of directly with the travel provider, such as an airline or hotel chain, can complicate things.

In particular, when the travel industry came to a screeching halt in 2020, thousands of online travel agency customers struggled to get refunds for their canceled flights. Also, if you book a hotel stay, you may not earn points with the hotel loyalty program or credit toward elite status. You also won't enjoy any of the elite benefits you're already entitled to if you have elite status.

That argument also applies to the card's bonus rewards rates on eligible Capital One Travel purchases.

The card's airport lounge benefits are impressive, but it's worth noting that there's currently only one Capital One Lounge, located at Dallas/Fort-Worth International Airport—it opened to coincide with the Venture X launch.

The bank has plans to open two additional lounges in 2022, at Denver International Airport and Dulles International Airport, but unless you live in one of those cities or travel there frequently, the lounge benefit may not be valuable for a while.

If you're considering the new Venture X card, take your time to shop around and compare multiple credit cards to determine if it's the right fit for you. If you decide to get the card, visit Capital One's website on or after Nov. 9, 2021 to apply.