Why the Venture X is a mainstay in my wallet

I'll admit it — I'm addicted to premium travel rewards cards. Most people choose just one or two of the most popular top-tier cards — such as The Platinum Card® from American Express, Chase Sapphire Reserve® (see rates and fees) and Capital One Venture X Rewards Credit Card — but I have all three.

That being said, the Venture X is the premium card I most often recommend to points-and-miles collectors to get their foot in the premium travel card world.

Here are six reasons why.

$0 effective annual fee

This card has a $395 annual fee, an expense too high to gloss over. However, I reduce that annual fee by taking advantage of the $300 annual credit toward bookings through the Capital One travel portal. That brings the effective annual fee down to $95 — but there's more.

I also receive 10,000 anniversary bonus miles each year I have the card. Given that TPG's September 2024 valuations state that Capital One Venture Miles are worth 1.85 each, those 10,000 points are worth $185. That means that I'm actually "making" $90 a year by holding the card — and that's without taking into account all the other benefits below.

Capital One lounge access

While my Amex Platinum takes the cake for lounge privileges — including access to Centurion lounges and Delta Sky Clubs (when flying on Delta-operated or -marketed flights), amongst others — the Venture X is also a great option. It gives you a Priority Pass Select membership. 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.

Cardholders also get access to Capital One's small (but growing) lounge network. Living in Austin, I often connect through Dallas Fort Worth International Airport (DFW), where the first Capital One Lounge opened in November 2021. This was the same month the card launched with a 100,000-point welcome bonus. (Now, the current offer is 100,000 miles after spending $10,000 in purchases in the first six months, worth $1,850 according to TPG valuations.)

My favorite part of the lounge is the grab-and-go food and drink options; these options are great when you have a short connection and want to save money by not purchasing overpriced airport food.

Four free authorized users

This card keeps on giving. You can add up to four authorized users to your card for free.

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I've added two family members and two friends as authorized users. They can take advantage of all the lounge benefits I enjoy — most notably the more than 1,300 Priority Pass lounges worldwide. Plus, they can bring in two guests per visit with unlimited complimentary access.

Transferable miles

If there is anything I endeavor to teach a credit card rewards beginner, it's this: Don't put all your eggs in one basket by getting a card linked to just one airline or hotel loyalty program. Instead, earn flexible (or transferable) points.

Capital One miles can be transferred to 15-plus partners. I try to take advantage of transfer bonuses to convert my points to Air France-KLM Flying Blue for good-value business-class flights to Europe; Avianca LifeMiles for premium-cabin redemptions on United back home to Sydney; and British Airways Executive Club for nonstop flights within the U.S. and to Latin America on American Airlines.

Generous earning rate on nonbonus categories

While I use other cards to maximize my bonus earning on categories like groceries, flights and ride-hailing services, the Venture X is my go-to for nonbonus spending such as clothing, online purchases and fitness.

This card earns at least 2 miles per dollar spent on purchases, though it jumps to 5-10 points per dollar spent on specific bookings through the Capital One travel portal. However, I prefer to book directly to reduce headaches if I change or cancel a flight or hotel stay.

Car rental elite status

The Venture X offers complimentary Hertz President's Circle status* to the primary cardholder and authorized users (21 years or older). This allows for free upgrades, bonus points and a free additional driver.

I've status matched my top-tier Hertz status to Enterprise and Europcar. I would do so to Avis and National if I didn't already get complimentary status with them through my Platinum card.

*Upon enrollment, accessible through the Capital One website or mobile app, eligible cardholders will remain at that status level through the duration of the offer. Please note, enrolling through the normal Hertz Gold Plus Rewards enrollment process (e.g. at Hertz.com) will not automatically detect a cardholder as being eligible for the program and cardholders will not be automatically upgraded to the applicable status tier. Additional terms apply

Bottom line

The Capital One Venture X is the most common premium travel rewards card that I recommend frequent travelers get. It has a relatively low annual fee that is easy to cover with an annual travel credit and bonus anniversary miles. You'll get luxury travel perks like Priority Pass lounge access and elite status with Hertz (and potentially other car rental companies). The ability to add multiple authorized users for free makes it a crowd favorite — and one of the top cards in my wallet.

For a deeper dive into the card's benefits, check out our full review of the Venture X.