Review: The Capital One Venture X Rewards Credit Card

The Capital One Venture X Rewards Credit Card is one of the most valuable credit cards out there. For a relatively mid-range annual fee, the card offers lots of perks and benefits. It also features a points-earning structure that makes it easy to earn additional points on categories that don’t normally have point bonuses, such as big box stores or department stores — you get 2x miles on all purchases. Redeeming miles is flexible and easy, with options including transfers to travel partners, Capital One Travel bookings, or the ability to erase travel charges from your statement.

For a while, this card seemed too good to be true, as Venture X cardholders also benefited from a generous lounge access policy. Until recently, that is, when Capital One announced big changes to the card’s lounge benefit. These new restrictions will reduce overcrowding in lounges by limiting access to cardholders’ guests and authorized users. Despite the changes, the card continues to offer significant value to travelers who seek flexible point redemption options, easy ways to earn rewards, and valuable perks in exchange for a reasonable annual fee.

In this review, we’ll dig into the Venture X card’s pros and cons, including its new lounge policy (and when it will go into effect), how to earn and redeem Capital One miles, and how the card matches up to other Capital One credit cards.

The basics

The Capital One Venture X Rewards card offers a varied list of benefits, all of which are uncomplicated and easy to understand, making it simple to maximize bonus categories and perks. The earnings structure is straightforward, offering 2, 5, or 10 points for every dollar spent based on specific categories. Miles never expire (as long as you hold the card), and there are no blackout dates.

The perks are clear-cut, too: The $300 annual travel credit is easy to use, as it’s automatically applied when you book travel via Capital One Travel. Instead of having to call and beg for a retention offer to keep the card, you automatically get 10,000 miles each year on your cardmember anniversary. Below are the details:

Current welcome bonus: 100,000 miles after spending $10,000 in the first 6 months

Annual fee: $395

Foreign transaction fees: None

Rewards:

• 10X points on hotels & rental cars booked through Capital One Travel

• 5X points on flights and vacation rentals booked through Capital One Travel

• 2X miles on everything else

Other benefits:

• $300 annual travel credit on Capital One Travel bookings

• $120 Global Entry or TSA PreCheck credit every four years

• 10,000 bonus miles annually on your cardmember anniversary

• Capital One Lounge access Priority Pass Lounge Membership

• Hertz President’s Circle status

• Free price drop protection, price alerts, and price matching on Capital One Travel

• Various travel protections that come with Visa Infinite cards, including car rental collision damage waiver, travel and emergency assistance services, trip cancellation and interruption insurance, trip delay reimbursement, lost luggage reimbursement, and common carrier travel accident insurance

• Purchase protections that come with Visa Infinite cards, such as purchase security, extended warranty protection, return protection, and cellphone protection

• Access to Capital One Dining and Capital One Entertainment

• Complimentary PRIOR subscription

• 50% off the Enthusiast membership to The Cultivist

• Perks and credits for booking Premier Collection and Lifestyle Collection on Capital One Travel

• Access to Capital One Shopping and Capital One Offers

The pros and cons

There’s a lot to like about the Capital One Venture X card, thanks to its many benefits, perks, and ways to redeem miles.

Why we love the Capital One Venture X Rewards Credit Card

$300 travel credit for Capital One Travel: You can use this credit for hotels, car rentals, or flights, all in one transaction or in multiple separate transactions. The flexibility of this credit is standout, especially when competitors are placing stipulations on credits, allowing them only to be used for hotels, or issued bi-annually.

10,000 anniversary bonus: A built-in retention bonus makes customers feel valued, knowing their card loyalty will be rewarded annually.

Flexible redemption options: It’s easy to use your miles when you can transfer them, use them on Capital One Travel, or wipe travel charges off your statement. Plus, miles never expire as long as you hold the card.

Capital One Lounges: Capital One Lounges are among the best airport lounges out there, offering fresh food, cool cocktails, and comfortable spaces to relax, work, or rest before flights.

General card value: Many other premium flexible rewards credit cards have annual fees that are close to double that of the Capital One Venture X Rewards card. This card offers excellent value — the perks compared to the fees ensure that if you take advantage of the benefits, you’ll easily come out on top.

Things to consider with the Capital One Venture X Rewards Credit Card

Excellent credit score: You’ll need an excellent credit score to get approved for the Capital One Venture X Rewards Credit card, which means it may not be available to everyone who wants it. That said, if you’re concerned about the ding on your credit for an inquiry (which may not result in a card approval), you can go through the preapproval process, which won’t affect your credit score.

New authorized user lounge restrictions: Starting February 1, 2026, Venture X additional cardholders won’t automatically get complimentary airport lounge access. You’ll have to pay $125 per cardholder, which will allow them access to Capital One Lounge and Landing locations or Priority Pass lounges.

New lounge restrictions for guests: Starting February 1, 2026, guests of Venture X cardholders will no longer receive complimentary access to Capital One Lounge and Landing locations automatically. Cardholders (or authorized users) who spend $75,000 on your card each year can bring up to two complimentary guests to Capital One Lounges and one complimentary guest to Capital One Landings per visit. If not, they’ll have to pay $45 per guest ($25 for kids 17 and under) per visit.

Earning points with the Capital One Venture X Rewards Credit Card

Earning miles on everyday purchases is simple with the Capital One Venture X Rewards card. Although the larger bonus categories are reserved for Capital One Travel bookings, this card offers 2X miles on all other spending, making it the perfect card to use for all those purchases that don’t earn bonus points on other credit cards.

For example, you can use other credit cards with higher category bonuses to pay for expenses such as gas, groceries, streaming services, or dining. But when it comes to purchases like school supplies, clothing, skincare, Amazon orders, and anything else you wouldn’t typically earn bonus points on, the Capital One Venture X Rewards card offers one of the best earn rates.

I like to apply the $300 Capital One Travel credit towards a larger hotel booking to maximize points earnings while still receiving a discount. For example, a weeklong hotel stay booked via the Capital One Travel portal may cost me $1,925 ($275 per night). If I deduct the credit, it comes down to $1,625, and I earn 10x points on the rest of the purchase price — a whopping 16,250 miles.

Redeeming points with the Capital One Venture X Rewards Credit Card

Here at point.me, we value Capital One Miles at between 1 and 2.5 cents per mile. When it comes to redeeming, you can get the best value by transferring miles to partners. Keep an eye out for transfer bonuses to specific partners, where you can earn 20% or more. You’ll likely get a higher value when transferring to the following partners at a 1:1 ratio:

• Aeromexico Rewards

• Air Canada Aeroplan

• Avianca LifeMiles

• British Airways Executive Club

• Cathay Pacific Asia Miles

• Emirates Skywards

• Etihad Guest

• Finnair Plus

• Flying Blue

• Qantas Frequent Flyer

• Qatar Airways Privilege Club

• Singapore Airlines KrisFlyer

• TAP Miles&Go

• Turkish Airlines Miles&Smiles

• Virgin Red

• Choice Privileges

• Wyndham Rewards

That said, you can also transfer to these partners at less enticing ratios:

• EVA Air at a 2:1.5 transfer ratio

• Japan Airlines Mileage Bank at a 2:1.5 transfer ratio

• JetBlue at a 5:3 transfer ratio

• I Prefer Hotel Rewards at a 1:2 conversion ratio

• Accor Live Limitless at a 2:1 conversion ratio.

While transferring is where you’ll get the most out of your points, you can also redeem points towards Capital One Travel bookings or wipe travel charges off your statement at a rate of 1 cent per mile. While it’s not the highest value for your points, it can be easy and convenient if you’re not well-versed in redeeming points. The last option can be useful if you’re booking something like a seaplane, ferry, or train that might not be bookable using points or via Capital One Travel.

If you want to redeem your miles for top value, skip gift cards, cash back, Amazon, or PayPal redemptions, as these options offer a very poor value. If you want to earn cash back, consider getting a cash back credit card instead.

Who this card is great for

The Capital One Venture X Rewards card is an excellent choice for consumers seeking a general spending card that earns 2 miles per dollar on all purchases. It’s also ideal for someone who doesn’t mind booking some of their travel through the Capital One Travel portal. Consumers who understand how to transfer miles to travel partners for the most value can benefit from this card, too.

Travelers who want a luxury, premium card without an annual fee that’s $700+ can get a lot out of this card, especially if they take advantage of the $300 travel credit, the $120 Global Entry or TSA PreCheck credit, and the annual 10,000-mile bonus. For someone like me, who loathes making phone calls, the annual 10,000-mile anniversary bonus means I don’t have to sit on hold and beg for a retention offer.

Comparing the Capital One Venture X Rewards Credit Card to the Capital One Venture X for Business

The Capital One Venture X Rewards card and the Capital One Venture X for Business have similar benefits, but the Business card is best for business owners. It has a similar earning structure and bonus categories as the Capital One Venture X Rewards card, but if you can’t meet the $30,000 spending requirement for the 150,000-mile welcome bonus or pay your card off in full each month, it’s best to opt for the Venture X Rewards card instead.

Comparing the Capital One Venture Rewards Credit Card to the Capital One Venture X

The Capital One Venture Rewards card is ideal for consumers looking for a generous welcome bonus and 2X points on all purchases, but for a lower annual fee than the Venture X. This card has a $95 annual fee, but doesn’t have popular Venture X perks, such as the 10,000-mile anniversary bonus or the $300 Capital One Travel credit.

Wrap up

If you’re in the market for a premium, flexible rewards card that offers a simple earning and redemption structure and plenty of perks (but with an annual fee that won’t break the bank), the Capital One Venture X is your card. Yes, the lounge access benefits will soon be more limited, which we’re not happy about. But if you maximize redemptions and the $300 travel credit, you’ll definitely come out ahead with this card.