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      Capital One Venture X vs. American Express Platinum (September 2022 Credit Card Comparison)

      Josh Patoka
      Capital One Venture X Card vs American Express Platinum Card

      “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. The content on this page is accurate as of the posting date; however, some of our partner offers may have expired.

      Comparing the benefits of the Capital One Venture X Rewards Credit Card and The Platinum Card® from American Express is like a Tale of Two Cities

      One offers the most luxury travel benefits of any premium card. The other is one of the most affordable but doesn’t offer as many perks.

      This Capital One Venture X Rewards vs. American Express Platinum Card matchup will help you pick the better option.

      Benefits At A Glance

      Here is an overview of each card’s main benefits and fees.

      Capital One Venture X RewardsAmex Platinum Card
      Annual Fee$395$695
      Authorized User Fee$0$175 for up to 3
      Sign-up Bonus75,000 Venture miles after spending $4,000 in 3 months ($750 value)100,000 Membership Rewards after spending $6,000 in 6 months ($1,000 value)
      Purchase Rewards– 10x on hotels and car rentals through Capital One Travel
      – 5x on flights through Capital One Travel
      – 2x on remaining purchases
      Up to 5x on flights and hotels1x for everything else
      Travel Redemption BonusNoneNone
      Airport Lounge BenefitsPriority Pass Select
      Capital One Lounge
      Plaza Premium Lounges
      Global Lounge Collection
      Notable Benefits– $300 Annual Travel Credit
      – 10,000 miles anniversary bonus
      – Free Global Entry or TSA PreCheck
      – Hertz President’s Circle status
      – 1:1 point transfers
      – $200 Annual Airline Fee Credit
      – Hotel and Lifestyle statement credits
      – Expedited Security fee credits
      – 1:1 point transfers
      – Accelerated travel loyalty perks

      Read our Capital One Venture X Rewards and Platinum Card from American Express guides for more.

      Annual Fee

      There is a sharp contrast between the annual fee of both premium cards. One has the highest fee and the other is one of the most affordable.

      Capital One Venture X

      The Venture X Rewards only costs $395 for the primary card and $0 for up to four additional cards. It is arguably the most budget-friendly premium card as competing cards have increased in price.

      Amex Platinum

      You will pay $695 for your basic card.

      Next, you pay $175 for up to three additional cards (the $175 each per additional card). As you pay a flat fee, you may consider adding up to three authorized users to maximize this cost and extend your benefits to more trusted travel companions.

      Welcome Offer

      Both cards offer attractive signup bonuses worth at least $750 in travel rewards.

      Capital One Venture X

      The Venture X spending bonus is currently worth $750 in travel statement credits. You can receive 75,000 Venture miles after spending $4,000 in the first 3 months.

      Amex Platinum

      The Platinum Card welcome offer is 100,000 Membership Rewards after spending $6,000 in the first 6 months. This bonus is worth $1,000 in award flights and select gift cards.

      Earning Points

      Both cards let you earn bonus points on travel-related purchases. Unfortunately, neither card has retail or dining bonus categories at the moment.

      Capital One Venture X

      You will earn up to 10 miles per $1 on travel purchases:

      • 10x on hotels and car rentals through Capital One Travel
      • 5x on flights through Capital One Travel
      • 2x on all remaining purchases

      The Venture X has a higher earning potential on select travel purchases (10x vs. 5x) but you must book these itineraries through Capital One Travel. Any travel purchase you make directly from the carrier only earns the base rate of 2x.

      You may appreciate this card as you earn double points on non-bonus purchases versus the Amex Platinum.

      Amex Platinum

      The Amex Platinum lets you earn up to 5x Membership Rewards:

      • 5x on flights you book directly from the airline or on AmexTravel.com (up to $500,000 per year)
      • 5x on prepaid hotels through AmexTravel.com
      • 1x on all remaining purchases

      While you might earn less on most purchases, you get to earn bonus points when booking flights directly through the airline. Being able to work directly with the airline if you have a delay or cancellation can provide more peace of mind.

      Redeeming Rewards Points

      Both cards offer flexible redemption options with award travel being the most valuable.

      Here is a glimpse at how much your rewards points can be worth for each redemption option.

      Capital One Venture X RewardsAmex Platinum
      Travel1 cent1 cent
      Gift Cards0.8 cents1 cent
      Cash Statement Credits0.5 cents0.6 cents
      Online Shopping0.8 cents0.7 cents

      Redeeming Capital One Venture X Miles

      In most travel situations, your Capital One miles can be worth more than Membership Rewards.

      Each mile is worth 1 cent as a travel statement credit on purchases within the last 90 days or booking upcoming travel. With American Express, this redemption value is only for award flights and NYC taxi fares.

      Any non-travel redemption reduces the point value to 0.8 cents or less.

      Redeeming Amex Platinum Membership Rewards

      Your American Express Membership Rewards are only worth 1 cent for award flights, NYC taxi fares, and select gift cards.

      The redemption value for other travel rewards is usually 0.7 cents. 

      1:1 Point Transfers

      Both cards offer 1:1 point transfers and several opportunities to book international flights. 

      Overall, the Amex Platinum transfer partners can be better as you have more to choose from. You also have several domestic travel partners (i.e., Delta Air Lines, Hilton, and Marriott).

      Capital One Venture X RewardsAmex Platinum
      AeromexicoAeromexico (1,000:1,600)
      Air Canada AeroplanAir Canada Aeroplan
      Air France-KLM Flying BlueAer Lingus
      Avianca LifeMilesAir France-KLM Flying Blue
      British AirwaysANA
      Choice PrivilegesAsia Miles
      EmiratesAvianca LifeMiles
      EtihadBritish Airways
      FinnairDelta SkyMiles
      QantasEmirates
      Singapore AirlinesEtihad
      TAP Air PortugalHawaiian Airlines
      Turkish AirlinesIberia
      EVA Air (2:1.5)JetBlue (250:200)
      Accor Live Limitless (2:1)Qantas (500:500)
      Singapore Airlines
      Virgin Atlantic
      Choice Privileges
      Hilton Honors (2,000:1,000)
      Marriott Bonvoy

      Airport Lounge Benefits

      Both cards offer complimentary access to multiple lounge networks.

      Capital One Venture X

      Cardholders receive complimentary access to the Capital One Lounge, Priority Pass Select, and Plaza Premium Lounges worldwide.

      The Capital One Lounge network just launched in 2021 and only has a handful of locations. However, it can be a worthy contender to Amex-exclusive Centurion Network.

      Amex Platinum

      The Amex Platinum Global Lounge Collection offers the most extensive credit card airport lounge perks:

      • Airspace
      • Centurion
      • Delta Sky Club
      • Escape
      • International American Express
      • Lufthansa
      • Plaza Premium
      • Priority Pass Select

      If you spend a lot of time in the airport and fly the corresponding airlines, this card can be worth it just for access to the carrier-operated lounges.

      Free Trusted Traveler Benefits

      Both cards offer an application fee credit worth up to $100 every four years for Global Entry or TSA PreCheck
      In addition, you can get an annual CLEAR® application fee credit worth up to $189 each year.

      Capital One Venture X Travel Benefits

      Capital One Venture X vs Amex Platinum Benefits

      Photo: pixabay

      Here is a closer look at the unique travel perks the Venture X Rewards Card provides. 

      $300 Capital One Travel Credit

      Your first $300 in purchases through Capital One Travel are reimbursed through a statement credit. 

      10,000 Miles Anniversary Bonus

      You receive 10,000 bonus miles for each card anniversary. This gift is worth $100 in award travel.

      Hertz President’s Circle Status

      You will enjoy Hertz President’s Circle status through December 31, 2024. This is the rental agency’s highest loyalty tier. 

      Several featured benefits include the widest selection of vehicles, free additional drivers, and 50% bonus Hertz points.

      Amex Platinum Benefits

      The Amex Platinum offers these travel and lifestyle benefits.

      Travel Statement Credits

      These annual statement credits can help stretch your travel budget:

      • $200 Airline Fee Credit: Reimburses incidental fees for one airline of your choice
      • $200 Hotel Credit: On select Fine Hotels + Resorts or The Hotel Collection bookings with American Express Travel
      • Up to $200 in Uber Credits: $15 per month ($35 in December) for Uber rides and eats.  

      In addition, luxury travelers can enjoy several discounts through the Wheels Up private jet program. It’s also possible to get on-site benefits (average $550 value) on qualifying Fine Hotels + Resorts stays. 

      Shopping and Lifestyle Credits

      This card also offers an abundance of statement credits for different brands.

      • $100 Shop Saks with Platinum: Two semi-annual credits worth $50 at Saks Fifth Avenue or Saks.com
      • $155 Walmart+ Credit: Reimburses your Walmart+ monthly membership fee ($12.95 + applicable local sales tax). Plus Ups are excluded.
      • $240 Digital Entertainment Credit: $20 per month at Audible, Disney+, ESPN+, Hulu, Peacock, The Disney Bundle, The New York Times, and SiriusXM.
      • $300 Equinox Credit: Up to $300 per year for the Equinox+ digital fitness app or an Equinox club membership
      • $300 SoulCycle Credit: Up to $300 statement credit when purchasing a SoulCycle At-Home Bike Credit.

      Travel Loyalty Benefits

      This card also offers several travel loyalty benefits that can be handy for booking hotels and rental cars:

      • Hilton Honors Gold status
      • Marriott Bonvoy Gold Elite status
      • Avis, Hertz, and National car rental privileges

      Cardmembers can also secure exclusive dining reservations through Resy.

      Travel and Purchase Protection

      Both cards offer competitive travel insurance and purchase protection benefits. 

      Here are the maximum coverage amounts:

      Capital One Venture X RewardsAmex Platinum
      Capital One Venture X RewardsAmex Platinum
      Trip Cancellation and Interruption$2,000 per person$10,000 per person and $20,000 per trip
      Trip Delay$500 per covered trip after 6 hours$500 per ticket after 6 hours
      Baggage DelayN/AN/A
      Lost Luggage Reimbursement$3,000 per person ($2,000 for New York State residents)$3,000 per passenger ($10,000 for New York State residents)
      Car Rental Insurance
      (Collision and Theft)
      Primary coverage up to $75,000 Secondary coverage up to $75,000
      Roadside AssistanceN/AN/A
      Emergency EvacuationN/AUp to 100% of total cost
      Purchase Protection$10,000 per item and $50,000 annually for purchases within 90 days$10,000 per item and up to $50,000 annually for purchases within 90 days
      Return Protection$300 per item and $1,000 annually for purchases within 90 days$300 per item and $1,000 annually for purchases within 90 days
      Extended WarrantyOne additional year for warranties of 3 years or lessOne additional year for warranties of 5 years or less
      Cell Phone ProtectionUp to $800 per claim ($1,600 per year) after a $50 deductibleUp to $800 per claim ($1,600 per year) after a $50 deductible

      The coverage benefits overlap in many areas but each has its strengths in a particular credit card.

      When to Apply for the Capital One Venture X Rewards

      You may consider the Capital One Venture X Rewards to have the upper hand for these reasons:

      • Cheaper annual fee: It’s hard to compete with a $395 annual fee and free additional cards. This fee is easier to offset through the annual travel credits and you get airport lounge access at a lower cost.
      • Flexible rewards program: You can have more opportunities to earn bonus points on travel. The travel statement credit benefit also applies to non-flight travel purchases.
      • Anniversary bonus: You receive an annual 10,000 miles bonus that you can use for various redemptions.
      • Won’t use the Amex Platinum benefits: Just because the Amex Platinum is loaded with travel and lifestyle perks doesn’t mean they are relevant to your situation. 
      • Combine Capital One miles: You might also prefer this card if you have other Capital One rewards credit cards like the Capital One Venture Rewards or a Spark Miles product.

      When to Apply for the American Express Platinum Card

      The Amex Platinum outperforms the Venture X in these ways:

      • Extensive airport lounge benefits: The Global Lounge Collection lets you visit independent and airline-operated lounges in most airports.
      • Multiple travel and lifestyle benefits: This card offers many statement credit opportunities for travel, shopping, and entertainment. It can be easy to offset the annual fee if you already support these brands or can adjust or travel routine.
      • Travel loyalty benefits: You have accelerated loyalty privileges with more hotel and car rental agencies. 
      • More point transfer partners: You have access to more airline transfer partners for domestic and overseas trips.
      • Book flights from the airline: It’s possible to earn bonus points on flights booked directly from the airline instead of just through the credit card booking portal.
      • Combine Membership Rewards: This card can also be a natural fit if you already use the American Express Gold Card or another product that is more likely to earn bonus points on non-travel purchases.

      The Vacationer’s Final Thoughts

      Both cards provide valuable travel benefits that you won’t receive from most travel credit cards

      The easiest way to decide the winner is to determine if you can use the many Amex Platinum benefits. If so, are you comfortable with the higher annual fee?

      If not, the Capital One Venture X Rewards Credit Card is a worthy competitor. While it doesn’t pack as many benefits, its rewards program can offer more flexibility with earning and redeeming points to get more mileage from your points.

      Editorial Disclosure: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved, or otherwise endorsed by any of the entities included within the post.

      Josh Patoka The Vacationer Bio

      By Josh Patoka

      Josh Patoka writes about maximizing travel rewards for The Vacationer. As well, he contributes to several personal finance sites specializing in making money, paying off debt, and investing.