Update: Many readers are reporting getting approved for this card with large credit lines, even after getting rejected for previous Capital One cards or cards from other banks!
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Capital One has launched their first ultra-premium card, the Capital One Venture X Card.
For a limited time, new Venture X cardholders will earn 100,000 Capital One miles for opening this card and spending $10,000 in 6 months.
Additionally for a limited time, new cardholders will also get $200 in statement credits for vacation rental purchases like VRBO, Airbnb, Vacasa, Turnkey, Sandbridge, and more, for use within 12 months. Those credits can be applied multiple times until you spend $200.
As you earn at least 2 miles per dollar everywhere, that’s a potential 120,000 miles for spending $10,000 in 6 months. 120K miles can be used for $1,200 of travel, dining, or gift cards. Or it can be transferred into 120K airline miles where they can be much more valuable.
Note that Capital One pulls and reports to all 3 of your credit reports. It can be difficult to get approved for more than 1 Capital One card every 6 months. You can have both the Venture and Venture X cards.
There is a $395 annual fee for the primary card and no annual fee for up to 4 additional cardholders. There is no minimum age limit for additional cardholders and you don’t need to provide a SSN for additional cardholders.
Annual travel credit:
Receive a $300 annual travel credit every cardmembership year for all travel booked through the Capital One Travel portal, where you can book flights, hotels, and car rentals. Those credits can be applied multiple times until you spend $300. If you maximize this credit, this card’s effective annual fee is just $95.
Cardholders will get an anniversary bonus of 10,000 miles every year that they have the card. Those miles are worth $100 towards travel or gift cards, but they can also be transferred into 10K airline miles where they can be much more valuable. At a value of 1.5 cents per airline mile, that’s like another $150 back every card anniversary.
Between the $300 annual travel credit and the 10,000 mile anniversary bonus, the annual rewards can be worth more than the card’s annual fee!
Global Entry/Pre-Check Fee Refund:
It costs $85 to apply for a 5 year TSA Pre-Check membership which makes flying pleasant again. Shorter lines, no need to remove your shoes, belt, jacket, or hat. You can keep your laptop and small liquids inside your carry-on. And you go through a good old fashioned metal detector instead of assuming the position in the body scanner. If you charge it on your card the fee will be refunded.
It costs $100 to apply for a 5 year Global Entry membership which lets you bypass the customs line. If you have Global Entry you also get TSA Pre-Check for free.
If you charge it on your card the fee will be refunded. You can get refunded for this charge once every 4 years.
My whole family has Global Entry and it sure makes traveling a whole lot easier!
Capital One Lounge Access:
Capital One airport lounges have now launched with its first lounge in Dallas/DFW in terminal D near gate 22. The lounge is open from 7am-7pm. Lounges in Denver/DEN and Washington/IAD will open next year with more lounges to come.
Venture X cardholders get unlimited free entry and can bring 2 guests for free. You need to have a departing or connecting flight within 3 hours to use the lounge.
Best of all, Venture X additional cardholders are free and they also get unlimited free entry and can bring 2 guests for free!
Lounge access for Capital One Venture and Capital One Spark Miles cardholders is $45 per person per visit. Those cardholders also get 2 free visits per year. Lounge access for everyone else is $65 per visit. Kids under 2 are free.
Lounges feature grab and go food with to-go bags for your flight, fully stocked bars with local beers and craft cocktails, coffee bars, work zones, exercise rooms with Peloton bikes and yoga mats, nursing rooms, kids rooms, soundproof relaxation rooms, luggage lockers, multi-faith prayer rooms, and shower suites!
Priority Pass Membership:
Venture X Primary and additional cardholders get a complimentary Priority Pass lounge membership.
Priority Pass lounge membership allows you to bring 2 guests with you into over 1,300 airport lounges.
There are also many airports with restaurants that have $28 credit per person with Priority Pass membership. I’ve used that to get free granola bars, potato chips, and drinks to go!
Other airports have spas that are accessible with Priority Pass.
While AMEX no longer allows Priority Pass to access spas or restaurant credit on their cards, Capital One will allow cardholders to use that credit!
- 2 miles per dollar everywhere.
- 5 miles per dollar on flights booked via Capital One Travel, plus get a refund if Hopper by Capital One Travel says to buy a flight and the prices goes down within 10 days. Cardholders can also freeze the price of select flights for up to 14 days!
- 10 miles per dollar on hotels and rental cars booked via Capital One Travel.
- There are no foreign transaction fees.
You’ll need to spend $10,000 on this card within 6 months for 100K bonus miles.
You can pay your federal taxes for a 1.96% fee. If you overpay your taxes you can request a refund or apply it to your next year’s taxes.
My local natural gas company allows me to prepay up to $1,000 on a credit card for a $1.65 flat fee. That’s a great way to earn miles and help meet a spend threshold. My electricity supplier allows me to pay with a credit card for free as long as I am enrolled in autopay.
Hertz elite status:
Venture X Primary and additional cardholders get Hertz President’s Circle elite status. Benefits include skip the counter and e-return, the widest vehicle selection, guaranteed upgrades, free additional driver, and more!
Excellent Visa Infinite card benefits:
This will be a Visa Infinite card, which means it will come with awesome benefits like 3 free years of Shipt for free deliveries from Target stores and more.
- Primary rental car CDW insurance, up to $75,000 of coverage
- Return protection, up to $300 per item and $1,000 per year.
- Cell phone insurance, up to $800 per claim and $1,600 per year if monthly bill is charged to card. $50 deductible applies.
- Trip delay insurance, up to $500 per person on delays of 6+ hours.
- Trip cancellation and interruption insurance, up to $2,000 per person.
- Extended warranty of 1 extra year, up to $10,000 per item.
- Lost Luggage Insurance, up to $2,000 per bag and $3,000 per trip.
- Travel Accident Insurance, up to $1,000,000 per person.
- Purchase protection for items damaged or stolen within 90 days, up to $10,000 per item.
You can change between the no annual fee Capital One VentureOne, the $95/year Capital One Venture and the $395/year Capital One Venture X, but you won’t get a signup bonus for upgrading from VentureOne or Venture to Venture X.
Use points for paid travel reimbursement:
You can redeem your points to pay yourself back for any travel related expenses (airfare, hotels, car rentals, cruises, ride sharing, etc) or book new travel at a value of 1 cent per point.
Airline and hotel transfer partners:
You can transfer points from Capital One into these programs at the following ratios:
- Aeromexico (1:1, SkyTeam)
- Air Canada Aeroplan (1:1, Star Alliance)
- Air France/KLM Flying Blue (1:1, SkyTeam)
- Avianca LifeMiles (1:1, Star Alliance)
- British Airways Avios (1:1, OneWorld)
- Cathay Pacific Asia Miles (1:1, OneWorld)
- EVA (2:1.5, Star Alliance)
- Etihad (1:1, No alliance)
- Emirates (1:1, No alliance)
- Finnair (1:1, OneWorld)
- Qantas (1:1, OneWorld)
- Singapore (1:1, Star Alliance)
- TAP Air Portugal (1:1, Star Alliance)
- Turkish Airlines (1:1, Star Alliance)
- Accor Hotels (2:1)
- Choice Hotels (1:1)
- Wyndham Hotels (1:1)
By transferring points to Accor, you can also transfer points to the following airlines via Accor at an effective 2:1 ratio:
- Iberia (Which can also be transferred to British Airways)
- Virgin Australia
You can also combine points between Capital One miles cards and you can transfer miles to any Capital One cardholder!
A nice perk is that after the 1,000 mile minimum transfer, you only need to transfer points in increments of 100, meaning you have fewer leftover points compared to other bank transfers.
- Avianca Lifemiles awards start at just 6.5K miles on United. Or save up for the 194K miles you’ll need for a round-trip first class flight in First Class from the US to Tel Aviv on Lufthansa with access to their amazing first class terminal during your connection with a Porsche transfer to your plane.
- Turkish Airlines has an incredibly generous award chart, with bargains on United like domestic awards, including Hawaii, costing just 7.5K miles in coach or 12.5K miles in business class! Tickets to Israel cost just 32K miles in coach or 47K miles in business class!
- 37K Flying Blue miles is enough to fly nonstop on Delta between North America and Israel.
- 120K Aeroplan miles is enough for a round-trip business class award between North America and 2 European cities.
- With 90K Cathay Pacific Asia Miles miles you can book a round-trip business class award between North America and Europe.
- With 180K Qantas points you can fly round-trip in El Al business class between NYC and Tel Aviv with no fuel surcharges.
- With 135K Emirates miles you can fly round-trip in A380 Shower Class from JFK to Milan with no fuel surcharges.
- With 217.5K Emirates miles you can fly round-trip in A380 Shower Class from JFK to Dubai with no fuel surcharges.
Dan’s Quick Thoughts:
This card seems like a no-brainer thanks to the annual credits that more than cover the annual fee.
Assuming you take advantage of those annual credit, there is essentially no cost for all of the card’s valuable benefits, like Capital One lounge access, Priority Pass lounge access, Hertz elite status, high end protections, and more. Plus, all of those benefits apply to free additional user cards and there’s no age limit for Capital One additional user cards. And the Priority Pass access isn’t restricted as it is on cards from AMEX.
With the ability to reimburse yourself for any travel purchase and the option to transfer points to airlines like Turkish, where you can fly anywhere in the US50 for just 7.5K miles in coach or 12.5K miles in first class, spending on the card is valuable and doesn’t require jumping through hoops with multiple cards as with other banks.
The 100,000 point bonus and $200 credit is just gravy on top of those benefits!
Will you signup for the Capital One Venture X Card?