Capital One Venture X vs. Amex Platinum: Which premium card is better for you?

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Dec. 06, 2024

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14 min read

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If you're ready to add a premium travel rewards card to your wallet, you may find yourself debating between the Capital One Venture X Rewards Credit Card and The Platinum Card® from American Express — and with good reason.

Both cards offer premium perks like airport lounge access, valuable statement credits and travel protections. But no one card is right for everyone, and that's especially true in the premium card space. While both the Venture X and Amex Platinum are fantastic cards, they have some major differences that almost guarantee one is a better fit for you than the other.

To help you decide which is the right card for you, here's a breakdown of what the Venture X and the Amex Platinum bring to the table.

Capital One Venture X vs. Amex Platinum comparison

	Capital One Venture X	Amex Platinum
Annual fee	$395	$695 (see rates and fees)
Welcome offer	Earn 75,000 miles after spending $4,000 within the first three months of card membership	Earn 80,000 points after spending $8,000 within the first six months of cardmembership. Check CardMatch to see if you're targeted for an elevated welcome offer. Not everyone will be targeted for the same offers, and offers may change at any time.
Earning rates	10 miles per dollar spent on hotels and rental cars booked through Capital One Travel 5 miles per dollar spent on flights and vacation rentals booked through Capital One Travel 2 miles per dollar spent on all other purchases	5 points per dollar spent on flights booked directly with airlines or through American Express Travel (on up to $500,000 per year, then 1 point per dollar) 5 points per dollar spent on hotels booked through AmexTravel.com 1 point per dollar spent on all other purchases
Redemption options	Multiple direct redemption options, including redeeming as a statement credit for travel purchases Transfer miles to 15-plus airline and hotel partners	Multiple direct redemption options, including gift cards, merchandise and travel Transfer points to 18 airline and three hotel partners
Statement credits	$300 annual credit for travel booked through Capital One Travel Up to $120 Global Entry or TSA PreCheck credit every four years	Up to $200 prepaid hotel credit each calendar year on prepaid Amex Fine Hotels + Resorts and The Hotel Collection bookings (The Hotel Collection requires a minimum two-night stay) Up to $240 digital entertainment credit per calendar year (up to $20 monthly) Up to $155 Walmart+ credit each calendar year (up to $12.95 monthly on one membership fee; subject to auto-renewal; Plus Ups excluded) Up to $200 Uber Cash each calendar year (up to $15 per month, plus a bonus up to $35 in December). The Amex Card must be added to your account and you can redeem with any Amex card Up to $200 airline fee credit per calendar year Up to $300 Equinox credit each calendar year Up to $100 Saks Fifth Avenue credit per calendar year (up to $50 bi-annually) Up to $199 Clear Plus membership statement credit per calendar year (subject to auto-renewal) Up to $300 SoulCycle at-home credit each calendar year $120 Global Entry credit every four years or up to $85 TSA PreCheck credit every 4½ years Enrollment is required for select benefits; terms apply
Lounge access	Capital One lounges (complimentary for cardholder and two guests) Priority Pass Select membership (complimentary for cardholder and two guests, does not include restaurants) Plaza Premium lounges (complimentary for cardholder and two guests, cost for additional guests varies) Same lounge privileges for authorized users	Centurion Lounges (complimentary for cardmember, $30 per guest age 2 to 17 with proof of age, $50 per guest over 18 unless cardmember has qualified for guest privileges by spending $75,000 or more on the card in a calendar year) Priority Pass Select membership (complimentary for cardmember and two guests, does not include restaurants) Delta Sky Clubs when flying Delta (complimentary for cardmember, guests cost $50 each; beginning Feb. 1, 2025, eligible Platinum Card Members will receive 10 Visits per Eligible Platinum Card per year to the Delta Sky Club or to Grab and Go when traveling on a same-day Delta-operated flight) Escape lounges (complimentary for cardmember and two guests or immediate family) Plaza Premium lounges (complimentary for cardmember and two guests) Select Lufthansa lounges Other Global Lounge Collection partner lounges (complimentary for cardmember, guest policies vary) Enrollment is required for select benefits; terms apply
Travel protections	Auto rental collision damage waiver Lost luggage reimbursement Trip delay reimbursement Trip cancellation and interruption	Car rental coverage* Premium Global Assist Hotline Baggage insurance* Trip delay coverage** Trip cancellation and interruption**
Purchase protections	Extended warranty Return protection Cellphone protection	Purchase protection* Extended warranty* Return protection* Cellphone protection**

*Eligibility and benefit level varies by card. Not all vehicle types or rentals are covered, and geographic restrictions apply. Terms, conditions and limitations apply. Visit americanexpress.com/benefitsguide for details. Policies are underwritten by AMEX Assurance Company. Coverage is offered through American Express Travel Related Services Company, Inc.

**Eligibility and benefit level varies by card. Terms, conditions and limitations apply. Visit americanexpress.com/benefitsguide for details. If approved and coordinated by Premium Global Assist Hotline, emergency medical transportation assistance may be provided at no cost. In any other circumstance, cardmembers are responsible for the costs charged by third-party service providers.

***Eligibility and benefit level varies by card. Terms, conditions and limitations apply. Visit americanexpress.com/benefitsguide for details. Policies are underwritten by AMEX Assurance Company.

****Eligibility and benefit level varies by card. Terms, conditions and limitations apply. Visit americanexpress.com/benefitsguide for details. Policies are underwritten by New Hampshire Insurance Company, an AIG Company.

Capital One Venture X vs. Amex Platinum welcome bonus

New Capital One Venture X cardholders can earn 75,000 miles after spending $4,000 within the first three months from account opening.

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According to TPG's December 2024 valuations, this bonus is worth $1,388.

Meanwhile, new Amex Platinum cardmembers can earn 80,000 points after spending $8,000 during the first six months of cardmembership.

TPG values this bonus at $1,600. Keep in mind that you could be targeted for a higher bonus through the CardMatch tool (CardMatch offers are not guaranteed and are subject to change at any time).

Winner: Amex Platinum. Its welcome offer is worth over $200 more than the Venture X's current offer.

Capital One Venture X vs. Amex Platinum benefits

A standout benefit of both cards is the lounge access they offer. With the Venture X, you'll get access to Capital One, Priority Pass, and Plaza Premium lounges.

You'll get more extensive lounge access with the Amex Platinum, though. It gives you access to Centurion, Delta Sky Club (when flying Delta, subject to limitations beginning Feb. 1, 2025), Escape, Lufthansa, and other Global Lounge Collection partner lounges in addition to Priority Pass and Plaza Premium lounges.

With the Venture X, you'll also get a $300 annual credit for travel booked through Capital One Travel, as well as a Global Entry/TSA PreCheck credit and a generous guest allowance with your airport lounge access. If you can maximize these benefits, you'll easily offset the card's $395 annual fee, which is comparatively low for a premium travel credit card.

The Venture X also comes with some travel and purchase protections, which will grant you peace of mind even if you aren't able to take advantage of its monetary value.

Plus, you can add a number of authorized users to your account for no additional charge, which is especially valuable given that each authorized user has the same airport lounge access as the primary cardholder.

The Amex Platinum's benefits, on the other hand, are far more extensive. They include numerous statement credits and comprehensive airport lounge access, as well as significant travel and purchase protections, including cellphone protection of up to $800 per claim with a $50 deductible (maximum of two claims per 12-month period).

The Amex Platinum's list of benefits is arguably the best of any publicly available card, but it does come with a $695 annual fee, which is significantly higher than the Venture X. If you want to add authorized users to your account, it will cost you even more. You can add authorized users to your account at a cost of $195 annually for each one (see rates and fees).

Winner: Amex Platinum. Its lounge access and wide variety of statement credits are hard to beat.

Earning rewards with the Capital One Venture X vs. Amex Platinum

The Venture X earns 10 miles per dollar spent on hotels and rental cars booked through Capital One Travel, 5 miles per dollar spent on flights and vacation rentals booked through Capital One Travel and 2 miles per dollar spent on all other purchases.

Meanwhile, the Amex Platinum earns 5 points per dollar spent on flights booked directly with the airline or through American Express Travel (on up to $500,000 in purchases per calendar year, then 1 point per dollar) and on prepaid hotels booked through AmexTravel.com. It earns 1 point per dollar spent on all other purchases.

While Venture X may offer more earning opportunities, keep in mind that according to TPG's December 2024 valuation, Amex Membership Rewards are worth 2 cents each, while Capital One miles are valued at a lower 1.85 cents each.

Winner: Venture X. Most people will earn more rewards with 2 miles per dollar spent on all purchases than with the Amex Platinum's earning structure.

Redeeming rewards with the Capital One Venture X vs. Amex Platinum

With the Venture X, you can get maximum value from your miles by transferring them to any of Capital One's 15-plus transfer partners, including Air Canada Aeroplan and Choice Privileges. Alternatively, you can use your miles to book travel through Capital One Travel or redeem them as a statement credit for recent travel at a flat rate of 1 cent per mile.

You also have the option to redeem your Capital One miles for gift cards at a rate of 1 cent per mile or use them to pay with Amazon or PayPal at a rate of 0.8 cents per mile. Your least valuable option is to redeem your miles for cash back at a rate of 0.5 cents per mile, so we recommend avoiding this option if you can.

Similarly, with the Amex Platinum, you can get maximum value from your Amex Membership Rewards points by transferring them to any of Amex's 21 travel partners. You can also redeem your points for travel through AmexTravel.com, usually at a rate of 1 cent per point.

Lower-value redemption options include redeeming your points as a statement credit for eligible charges, using Pay with Points at various online merchants and redeeming your points for gift cards. You'll almost always get a value of less than 1 cent per point with these options, so again, we recommend opting for travel redemptions to get the most value from your points.

Winner: Amex Platinum. According to TPG's December 2024 valuations, Membership Rewards points offer more high-value options and are worth more than Capital One miles.

Transferring rewards with the Capital One Venture X vs. Amex Platinum

Both Capital One and American Express allow you to transfer your rewards to valuable travel partners easily. In both instances, you can transfer your rewards to most travel partners at a 1:1 ratio. In most cases, your points will transfer instantly. Both programs also regularly offer transfer bonuses that allow you to get even more value from your rewards.

The two programs have several overlapping transfer partners, including some of our favorites like Air France-KLM Flying Blue, Avianca LifeMiles, British Airways Executive Club and Singapore Airlines KrisFlyer.

However, you can transfer American Express Membership Rewards points to a larger number of valuable airline and hotel partners than Capital One, including ANA Mileage Club, Iberia Plus and Virgin Atlantic Flying Club. Plus, historically, American Express has offered more transfer bonuses than Capital One.

Still, Capital One has its own valuable partners that set it apart, including Turkish Airlines Miles&Smiles and Virgin Red.

TPG credit cards writer Danyal Ahmed loves utilizing his Amex points for premium cabin redemptions across different partners. He often transfers his points to Aeroplan to take advantage of the program's phenomenal award chart and stopover program.

Winner: Amex Platinum. You can transfer Membership Rewards to a higher number of valuable travel partners.

Should I get the Capital One Venture X or the Amex Platinum?

The Amex Platinum is a better choice for very frequent flyers, thanks to its extensive lounge access and bonus-earning on airline purchases.

However, if your travels keep you on the ground a little more, you'll likely prefer the lower annual fee and broader earning potential on the Venture X. With it, you'll get substantial benefits like lounge access and an annual travel statement credit but with a much lower annual fee and broader earning opportunities.

Bottom line

Both the Venture X and the Amex Platinum are great cards.

If you're looking for extensive airport lounge access and multiple statement credits and don't mind paying a higher annual fee, the Amex Platinum is the better card for you. If your main priorities are earning a flat rate on all your purchases and getting premium perks for a lower annual fee, the Venture X is your winner.

That said, both cards are solid options. No matter where you land, you'll be traveling like a pro in no time with either card.

To learn more, read our full reviews of the Amex Platinum and Venture X.

Apply here: The Platinum Card from American Express

Learn more: Capital One Venture X Rewards Credit Card

For rates and fees of the Amex Platinum card, click here.

For Capital One products listed on this page, some of the benefits may be provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply.

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Editorial disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.