Capital One Venture X Rewards Credit Card vs. The Platinum Card® from American Express: Which Card is Best for You?
Updated September 6, 2024 at 3:45 pm
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The best card for you may depend on whether you place more value on superior travel benefits, a higher welcome bonus offer, and other perks The Platinum Card® from American Express has to offer or the slightly higher rewards-earning potential and a lower annual fee with the Capital One Venture X Rewards Credit Card.
Methodology Understanding the value of cash back is simple, but valuing airline miles or points redeemable for travel requires digging a bit deeper. At Newsweek, we’ve developed a common language to talk about the value of points and miles: our valuations.
Our valuations translate points into dollars and cents in a way that reflects reality. They are based on actual data across a balance of accessible redemption options, not just the aspirational first and business class redemptions that require a PhD in miles and points to book. The upshot is that our valuations help you understand the actual value you can easily get from your miles and points.
Why We Like It
The Capital One Venture X Credit Card is one of the best Capital One credit cards for good reason. It has a $395 annual fee, which is lower than other premium travel credit cards. You can enjoy access to over 1,300 airport lounges while earning 5X to 10X miles on eligible travel purchases through the Capital One Travel portal. Not only that, but you’ll also get a $300 annual travel credit, 10,000 anniversary bonus miles and an up to $120 fee credit for Global Entry or TSA PreCheck.
Pros and Cons
- Lower annual fee than other premium travel credit cards
- Earns 5X to 10X miles on eligible travel purchases through Capital One
- Comes with broad airport lounge access
- Visa Infinite card with Visa’s most generous benefits package
- Comes with easy-to-use $300 annual travel credit
- Receive a fee credit toward Global Entry or TSA PreCheck membership
- Miles transfer to airlines and hotels
- No foreign transaction fees
- High APR if you carry a balance
- Transfer partners aren’t as versatile as other programs
- No bonus rewards categories outside of travel
The Platinum Card® from American Express
Earn 80,000 Membership Rewards® Points after you spend $8,000 on eligible purchases on your new Card in your first 6 months of Card Membership.
Credit ranges are derived from FICO® Score 8, which is one of many different types of credit scores. If you apply for a credit card, the lender may use a different credit score when considering your application for credit.
Why We Like It
The Platinum Card from American Express comes with several top-tier travel benefits and rewards that can help you justify the hefty $695 annual fee if you use them on a consistent basis. Some of the card’s highlights include a generous welcome bonus offer, a $200 annual hotel credit (up to $200 back in statement credits for prepaid stays through American Express Travel with your Platinum for bookings with Amex Fine Hotels + Resorts or The Hotel Collection with a minimum 2-night stay required for the latter) and a $200 annual airline fee credit for incidental charges for a single chosen qualifying airline.
The card also includes statement credits for Global Entry or TSA PreCheck, Walmart+ membership, digital entertainment, and Saks Fifth Avenue, among others. Plus, Amex Platinum cardholders can enjoy complimentary status with several hotel and rental car brands, including Hilton Honors and Marriott Bonvoy.
Pros and Cons
- Extensive airport lounge access
- Valuable statement credits and merchant offers
- Priority status with several hotel brands upon enrollment
- Annual fee is one of the highest
- Bonus rewards cater to spending with Amex Travel
- It can be a challenge to maximize the available credits each year
Vault’s Viewpoint on the Capital One Venture X vs. Amex Platinum
The Capital One Venture X Rewards Credit Card features a $395 annual fee—a reasonable sum compared to the American Express Platinum card’s annual fee of $695. In the world of premium travel rewards credit cards, the Venture X card is one of the more affordable options where annual fees are concerned. Fans of a simple rewards-earning strategy may also appreciate the Capital One Venture X. Cardholders earn 2X miles for every dollar spent. So there’s no need to track bonus categories outside of the elevated 5X to 10X miles the card offers on eligible travel purchases booked through Capital One.
The Platinum Card from American Express could be a good fit for consumers who are able to benefit from the card’s long list of premium benefits despite the high annual fee. New cardholders who are eligible for the generous welcome bonus offer may also want to consider the Amex Platinum along with those who are partial to American Express travel partners. But customers who don’t travel on a regular basis and those who have to work too hard to redeem the perks that the Platinum Card offers may find that the Venture X with its lower annual fee is a better fit.
If you’re in the market for a premium travel card, either the Amex Platinum or the Venture X can serve you well. It ultimately comes down to your spending habits and preferences where benefits and fees are concerned. Fans of luxury experiences may lean toward the Platinum Card thanks to the premium travel perks the card offers. Meanwhile, if you travel less often and prioritize saving money (including a lower annual fee), the Venture X might be more your speed.
Capital One Venture X Rewards Credit Card Highlights
Earning Rewards With the Capital One Venture X Rewards Credit Card
The Capital One Venture X Rewards Credit Card offers a simple bonus rewards structure. With Venture X, you’ll earn:
- 10X miles on hotels and car rentals booked through Capital One
- 5X miles on flights and vacation rentals booked through Capital One
- 2X miles on all other purchases
Other Benefits of the Capital One Venture X
The Capital One Venture X card comes with a host of benefits and perks, including the following:
- Up to $300 in annual statement credits for travel purchases booked through Capital One Travel
- Cardholders receive 10,000 bonus miles on each card anniversary
- Access for you and two guests to Capital One airport lounges and partner lounges
- Up to $120 Global Entry or TSA PreCheck credit every four years
- Cell phone protection
- Up to $100 experience credit on certain luxury hotel stays
- Hertz President’s Circle status**
- Auto rental collision waiver
- Access to exclusive restaurant reservations and events through Capital One Dining and Capital One Entertainment
- Complimentary PRIOR subscription (upon enrollment) and The Cultivist subscription
- Miles don’t expire for the life of the account
- No foreign transaction fees
- No blackout dates
- Free additional cardholders
Is the Capital One Venture X Worth It?
The Capital One Venture X card is worth it, especially in the first year. You can earn 75,000 bonus miles after you spend $4,000 on purchases on your new card in your first three months of card membership. Newsweek values Capital One Venture miles at 1.21 cents per point, so earning 75,000 miles can be worth approximately $907.50 if you transfer your miles to a high-value transfer partner.
So, if you earn 75,000 bonus miles, the Capital One Venture X card is worth the $395 annual fee in your first year of card ownership in our view. Then the $300 annual travel credit for bookings through Capital One Travel makes the annual fee even more manageable.
The Platinum Card® from American Express Platinum Highlights
The Platinum Card® from American Express
Earn 80,000 Membership Rewards® Points after you spend $8,000 on eligible purchases on your new Card in your first 6 months of Card Membership.
Credit ranges are derived from FICO® Score 8, which is one of many different types of credit scores. If you apply for a credit card, the lender may use a different credit score when considering your application for credit.
Earning Rewards with The Platinum Card® from American Express
Here’s a look at some of the top benefits included with the American Express Platinum card:
- 5X points on flights booked directly with airlines or through American Express Travel on up to $500,000 on these purchases per calendar year (then 1X)
- 5X points on prepaid hotels booked with American Express Travel
- 1X points on other purchases
Other Benefits of the Amex Platinum Card
You’ll be hard-pressed to find another rewards card with as many benefits as the American Express Platinum card. Here is a list of benefits you receive as a cardholder:
- Up to $200 in hotel credits
- Fee statement credit for Global Entry application ($120 every four years) or TSA PreCheck application (up to $85 every four and a half years through an official TSA enrollment provider) for application fee; card holders approved for Global Entry will also receive access to TSA PreCheck at no additional cost
- Up to $240 in digital entertainment credits
- Up to $300 in Equinox credits
- Complimentary access to the Global Lounge Collection
- Up to $200 Uber Cash with $15 in Uber Cash each month, plus a bonus of $20 in December for Uber rides and Uber Eats orders in the United States; just add your card as a method of payment to your Uber account in the latest version of the downloaded Uber App
- Up to $200 Airline fee credit annually for incidental fees
- $155 Walmart+ credit
- Up to $100 in statement credits annually for Saks Fifth Avenue or saks.com ($50 twice a year, enrollment required)
- Up to $199 CLEAR® Plus credit back per calendar year on your membership
- Resy Global dining access when you add your card
- Platinum travel service
- Marriott Bonvoy Gold Elite status
- Hilton Honors Gold status enrollment
- Car rental privileges with premium status for several car rental programs (Avis, Hertz, National)
- Premium global assist hotline*
- $300 statement credit after you use your card to purchase a SoulCycle at-home bike (Equinox+ subscription required)
- Car rental loss and damage insurance*
- Trip cancellation and interruption insurance*
- Trip delay insurance*
- Purchase protection*
- Extended warranty*
- Return protection* up to 90 days from date of purchase
- Preferred Access and premium seats for events based on availability
- Free 2-day shipping on eligible items with ShopRunner (enrollment required)
- No foreign transaction fees
Is the Amex Platinum Worth It?
With the American Express Platinum card, you can earn 80,000 Membership rewards points after you spend $8,000 on eligible purchases on your new card in your first six months of card membership. Newsweek values American Express Membership Rewards points at 1.19 cents per point, so earning 80,000 points can be worth approximately $952 if you take advantage of the right travel transfer partner.
If you earn 80,000 membership rewards points, it makes the American Express Platinum card worth the $695 annual fee in your first year of card ownership based on our assessment. But to make sure the Amex Platinum is worth it in subsequent years of card ownership, it’s important to maximize all annual rewards.
Who Is Capital One Venture X Best For?
The Capital One Venture X card is best for consumers who want a card that makes it easy to earn miles on all purchases. Cardholders who want a streamlined approach and an annual fee under $400 would prefer the Capital One Venture X card. It’s not a good card for travelers who want extensive lounge access or elite status with other travel brands.
Who Is Amex Platinum Best For?
The American Express Platinum card is best for consumers who travel frequently and can take advantage of the many different perks available, such as credit for incidental travel fees and Uber Cash. It’s also a good fit for people who are already enjoying luxury living and have membership to Equinox or shop at Saks Fifth Avenue because it can offset costs they already incur.
The Platinum card wouldn’t be a good fit for people who only travel once or twice per year or wouldn’t regularly benefit from the many rewards and perks this card offers. The annual fee is too high to justify some of the perks if you don’t regularly use them.
Capital One Venture X vs. Amex Platinum Differences
| Capital One Venture X | Amex Platinum | |
| Annual fee | $395 | $695 |
| Intro offer | Earn 75,000 miles after spending $4,000 on purchases in the first three months of card ownership | Earn 80,000 points after spending $8,000 in the first six months of card ownership on eligible purchases |
| Annual travel credit | $300 | Up to $200 in hotel credits |
| Lounge access | Access to Capital One lounges and more than 1,300 lounges through Priority Pass and Plaza Premium Group | Access to more than 1,400 airport lounges through the Global Lounge Collection |
| Elite status | Hertz President’s Circle status** | Complimentary status with Marriott Bonvoy, Hilton Honors, Avis Preferred, Hertz Gold Plus Rewards, and National Car Rental Emerald Club (enrollment required) |
**Upon enrollment, accessible through the Capital One website or mobile app, eligible cardholders will remain at upgraded status level through December 31, 2024. 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
Who Should Consider an Alternative?
The Capital One Venture X and Amex Platinum cards are two of the best travel cards available. But there are plenty of other options to choose from. If the Capital One Venture X doesn’t have enough perks for you and the Amex Platinum is too much work, the Chase Sapphire Reserve® is a premium travel credit card worth considering.
The Sapphire Reserve is loaded with an impressive amount of perks, including the chance to earn impressive travel and dining rewards. It also provides access to the Chase Travel℠ portal, which can offer exceptional value when booking travel through here. If the Venture X and Amex Platinum cards don’t feel right for you, the Sapphire Reserve is worth a look.
For more information on how the Sapphire Reserve stacks up against these two cards:
For travelers who aren’t interested in premium features, Capital One and American Express both offer less-expensive cards for travel that are worth considering.
- Capital One Venture Rewards Credit Card: $95 annual fee
- Capital One VentureOne Rewards Credit Card: $0 annual fee
- American Express® Gold Card: $325 annual fee (see rates and fees)
- American Express® Green Card: $150 annual fee
All information about the American Express® Green Card has been collected independently by Newsweek.com. The American Express® Green Card is no longer available through Newsweek.com.
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.
*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.
Newsweek Vault has partnered with CardRatings for our coverage of select credit card products. Newsweek Vault and CardRatings may receive a commission from certain card issuers.
Editorial Disclosure: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, or other entity. This content has not been reviewed, approved or endorsed by any of these entities.
