Capital One Venture X Rewards Credit Card vs. The Platinum Card from American Express

The Capital One Venture X Rewards Credit Card and The Platinum Card® from American Express are premium travel cards which charge a large annual fee in exchange for benefits designed to make traveling less expensive and more comfortable. However, you should only have one in your wallet, as The Platinum Card demands a $695 annual fee (see rates and fees) and the Venture X a $395 annual fee.
Despite its staggeringly high annual fee, The Platinum Card from American Express will provide more comfort and value to cardholders thanks to its laundry list of annual travel credits and extensive airport lounge access. Just be sure it fits into your travel budget and that you’re able to take full advantage of everything it has to offer. The Venture X still gives The Platinum Card a run for its money, but in the end it can’t compete with its impressive benefit offering.
Which card does it best? Card feature Winner Rewards Venture X Welcome offers The Platinum Card Annual fees Venture X Travel benefits The Platinum Card Travel portals The Platinum Card
The Platinum Card® from American Express 8/10 CNET Rating CNET rates credit cards by comparing their offers to those of their categorical competitors. Each card is individually evaluated through a formula which reflects the standards and expectations of the contemporary market. Credit card issuers have no say or influence in our ratings. How we rate credit cards See Rates and Fees Terms Apply Card Highlights Intro OfferEarn 100,000 Membership Rewards® points after you spend $6,000 on purchases on your new Card in your first 6 months of Card Membership. APRSee Pay Over Time APR Intro Purchase APRN/A Recommended Credit Excellent/Good Reward Rates Annual Fee$695 Additional Details Balance Transfer Fee N/A Late Payment Fee Up to $40 Foreign Transaction Fees None Penalty APR See Rates & Fees Rewards & Redemption Details
Comparing reward programs
Winner: Capital One Venture X
Keep in mind that, to get the most from either card’s rewards program, you’ll need to book most of your travel through their respective travel portals — American Express Travel and Capital One Travel.
The Platinum Card earns:
5x points per dollar on flights booked directly with airlines or through American Express Travel (on up to $500,000 on these purchases per calendar year)
5x points per dollar on prepaid hotels booked through American Express Travel
1x point for other purchases
The Venture X earns:
10x miles per dollar for hotels & rental cars booked through Capital One Travel
5x miles per dollar on flights through Capital One Travel
2x miles for everything else
Despite its lower annual fee, the Venture X offers greater rewards for hotels and rental cars and equal rewards for flights booked through Capital One Travel, and it also earns a higher base rate.
The Platinum Card doesn’t offer the most lucrative rewards program, but to get into the nitty gritty of what really separates the two programs we’ll need to look at their redemption options. Both card’s offer similar redemption options, but differ a bit in their application.
If you redeem Membership Rewards® points for statement credits with the Amex Platinum card, each point will only equal 0.6 cent. When redeeming for airfare through American Express Travel, Membership Rewards points are worth 1 cent each, but are valued at 0.7 cent for prepaid hotels and rental cars. You could also transfer points to one of Amex’s travel partners, most featuring a 1:1 transfer rate (1 Amex point = 1 partner mile).
The Venture X’s miles can be redeemed for past travel purchases, used to book travel, or transferred to one of Capital One’s travel partners. By redeeming for past travel expenses at 1 cent per mile, Capital One gives you the freedom of booking through whichever service you see fit, whereas with The Platinum Card you’ll need to book your travel through American Express Travel to get the best value for your points.
However, Capital One has fewer domestic partners than American Express, making mile transfers less viable unless you often fly internationally. But because you can purchase any travel and then redeem your miles for it, the Venture X has greater versatility when it comes to rewards and redemption than the Amex Platinum Card.
Welcome offer
Winner: The Platinum Card
Here are both card’s welcome offers:
The Platinum Card: Earn 100,000 points after spending $6,000 on purchases in the first six months of card membership
Earn 100,000 points after spending $6,000 on purchases in the first six months of card membership Venture X: Earn 75,000 bonus miles after spending $4,000 within the first three months from account opening
Assuming you redeem both welcome offers in the most lucrative options (for airfare through American Express Travel with The Platinum Card and for past travel expenses or for travel booked through Capital One Travel with the Venture X) your points and miles, respectively, will be worth 1 cent each. That means The Platinum Card’s offer equates to $1,000 in value while the Venture X’s is worth $750. You also don’t need as high of a monthly spend to unlock The Platinum Card’s offer.
Annual fees
Winner: Capital One Venture X
Not much of a battle here: The Venture X costs $395 annually compared to The Platinum Card’s $695 fee. It’s worth noting, however, that both cards feature annual credits to help lessen the blow of their respective fees. And if you can utilize everything the Platinum Card has to offer, its perks will more than compensate for its annual fee.
Travel benefits
Winner: The Platinum Card
While the Venture X does offer cardholders plenty of extra value for your trips, there are very few, if any, credit cards that offer as much as The Platinum Card. The Platinum Card features numerous annual travel credits and a few travel protections to round out its benefit package.
Take a look at how the Venture X stacks up to The Platinum Card’s benefit offerings to see for yourself how the two compare:
Card perks Amex Platinum Card Venture X Up to $200 in statement credits each year on select prepaid hotel bookings made through American Express Travel at a Fine Hotels and Resorts or The Hotel Collection property, which requires a minimum two-night stay Up to $300 annual travel statement credit Up to $200 airline fee credit (incidental travel fees on one selected qualifying airline, including things like checked bags and in-flight refreshments) Up to $100 application fee credit for Global Entry or TSA PreCheck Up to $189 statement credit back per year on CLEAR® membership Get 10,000 bonus miles every year, starting on your first anniversary. Up to $100 application fee statement credit for Global Entry or TSA PreCheck Hertz President’s Circle status Up to $240 in statement credits each year for digital entertainment purchases (up to $20 back each month for Audible, Hulu, Disney+, The Disney Bundle, ESPN+, Peacock, SiriusXM, and The New York Times. Enrollment required). Cell phone protection Up to $200 Uber Cash each year for rides and eats in the U.S. ($15 Uber Cash each month, plus a bonus $20 in December) Travel accident insurance** Up to $155 in statement credits per year for Walmart+ (monthly statement credit reimbursement for your Walmart+ membership; Plus Ups are excluded) Primary auto rental insurance** Up to $100 in statement credits annually for purchases at Saks Fifth Avenue (up to $50 in statement credits semi-annually) Extended warranty** Up to $300 statement credit with Equinox each year ($25 statement credit each month for Equinox+ or an eligible monthly Equinox club membership)
Complimentary status upgrades with hotels (Marriott Bonvoy Gold Elite status and Hilton Honors Gold status) and rental car companies (Avis, Hertz and National)
Secondary car rental loss and damage insurance*
Trip delay insurance*
Trip cancellation insurance*
Purchase protection*
Extended warranty*
Terms apply to American Express benefits and offers. Enrollment may be required for select American Express benefits and offers. Visit americanexpress.com to learn more.
It’s pretty easy to see which card comes out on top. The Platinum Card offers a myriad of annual credits to take advantage of. They total up to $1,584 in value, which is far and above the cost of the annual fee. The Venture X does offer a $300 annual credit which certainly helps, but its benefits don’t offer nearly as much potential value as that of The Platinum Card’s.
In addition to the perks listed above, both cards include access to airport lounges. The Venture X offers access to Capital One Lounges (of which only one is yet open, at Dallas/Fort Worth International Airport) as well as access to over 1,400 Priority Pass lounge and Plaza Premium airport lounges.
The Platinum Card offers cardholders access to The Global Lounge Collection which grants complimentary admittance to over 1,400 lounges across 650 cities in 140 countries, so the two cards tie in this regard.
Travel portals
Winner: The Platinum Card
Both Capital One and American Express’ travel portals offer their respective cardholders the same features, a platform to book most aspects of their travel (airfare, hotels, rental cars) and a place to redeem their rewards for those purchases. Though Amex does offer the ability to book cruises as well, meaning it pulls ahead here.
The bottom line
If you can afford The Platinum Card from American Express, it’s the card to choose. Though its rewards are somewhat lackluster, its benefits are more than enough to make up for its staggeringly high annual fee. However, because of that fee, it should only be considered by travelers who are on the road enough to use everything it has to offer.
The Venture X is still a good option for those who don’t want to spend $695 each year as its rewards are competitive and it still offers a handful of useful travel perks. In the end it comes down to your travel budget and which card you can get the most from.
FAQs
Is it worth paying an annual fee? It depends on your budget and which aspect of your finances you’re trying to bolster. Travel credit cards with an annual fee typically have more perks like annual credits and airport lounge access while rewards credit cards usually feature higher rewards. If you can afford an annual fee, it can certainly be worth it. Check out our breakdown on how to tell if a credit card’s annual fee is worth it.
How much are American Express points worth compared to Capital One miles? The point and mile values will vary depending on how you redeem them. If you redeem your American Express Membership Rewards points for airfare they’ll be worth 1 cent, but if you choose to redeem as statement credits they will be worth 0.6 cent. Capital One miles on the other hand will be worth 1 cent when redeemed for past travel expenses while other redemption options could provide a lower value.
What’s the difference between travel credit cards and airline credit cards? A travel card can be used for most travel-related purchases and usually features additional card perks that cover a wide variety of travel. Airline credit cards focus on earning rewards and offering amenities with the airline they’re partnered with.
For rates and fees of The Platinum Card from American Express, click here
*Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by Amex Assurance Company.
**Terms, conditions, and exclusions apply. Refer to your Guide to Benefits for more details.
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