Capital One Venture X vs. Amex Platinum (January 2023 Credit Card Comparison)
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Comparing the benefits of the Capital One Venture X Rewards Credit Card – (Learn How to Apply Here) and The Platinum Card® from American Express – (Learn How to Apply Here) 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 Rewards||Amex Platinum Card|
|Annual Fee||$395||$695 (see rates & fees)|
|Authorized User Fee||$0||$175 for up to 3|
|Welcome Bonus Offer||75,000 Venture miles after spending $4,000 in 3 months ($750 value)||Earn 80,000 Membership Rewards after spending $6,000 in 6 months ($800 value)|
|Purchase Rewards||– 10x on hotels and car rentals through Capital One Travel|
– 5x on flights through Capital One Travel
– 2x on remaining purchases
|– Earn 5x on flights booked direct or via Amex Travel (up to $500,000 per calendar year)|
– Earn 5x on prepaid hotels booked via Amex Travel
– Earn 1x for everything else
|Travel Redemption Bonus||None||None|
|Airport Lounge Benefits||– Priority Pass Select|
– Capital One Lounge
– Plaza Premium Lounges
|Global Lounge Collection, including the Centurion Lounge|
|Notable Benefits||– $300 Annual Travel Statement Credit (bookings via Cap One Travel)|
– 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 (via statement credits at one select qualifying airline)|
– Hotel and Lifestyle statement credits
– Expedited Security fee credits
– 1:1 point transfers
– Accelerated travel loyalty perks
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.
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.
See the Amex Platinum’s rates & fees.
Welcome Bonus Offer
Both cards offer attractive welcome bonus offers 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. The bonus is potentially worth much more when transferring to Capital One partner airlines and hotels.
The Platinum Card welcome bonus offer is 80,000 Membership Rewards after spending $6,000 in the first 6 months. This bonus is worth $800 in award flights and select gift cards. It is worth potentially much more when transferring the points to American Express partner airlines and hotels.
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.
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. That is because you get to talk directly to the airline’s customer service instead of the online travel agency’s customer service, which is important if you need to quickly change or rebook your canceled or delayed flight.
Redeeming Rewards Points
Both cards offer flexible redemption options with award travel being the most valuable. In both cases, transferring the points to a partner airline or hotel will usually net more value than the following methods.
Here is a glimpse at how much your rewards points can be worth for each redemption option.
|Capital One Venture X Rewards||Amex Platinum|
|Travel||1 cent||1 cent|
|Gift Cards||0.8 cents||1 cent|
|Cash Statement Credits||0.5 cents||0.6 cents|
|Online Shopping||0.8 cents||0.7 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, which is quite poor and not recommended.
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).
Most transfers are instant, but some may take 7 days or longer.
|Capital One Venture X Rewards||Amex Platinum|
|Air Canada Aeroplan||Air Canada Aeroplan|
|Air France-KLM Flying Blue||Aer Lingus|
|Avianca LifeMiles||Air France-KLM Flying Blue|
|Cathay Pacific Asia Miles||Asia Miles|
|EVA Air (2:1.5)||Delta SkyMiles|
|Singapore Airlines||Hawaiian Airlines|
|TAP Air Portugal||Iberia|
|Turkish Airlines||JetBlue (250:200)|
|Virgin Red||Qantas (500:500)|
|Accor Live Limitless (2:1)||Singapore Airlines|
|Choice Privileges||Virgin Atlantic|
|Wyndham Rewards||Choice Privileges|
|Hilton Honors (2,000:1,000)|
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.
The Amex Platinum Global Lounge Collection offers the most extensive credit card airport lounge perks:
- Delta Sky Club
- International American Express
- 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
Additionally, the Amex Platinum Card offers an annual CLEAR® application fee credit worth up to $189 each year.
Capital One Venture X Travel Benefits
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. That is an extremely valuable benefit since it makes the net annual fee only $95 ($395 – $300).
10,000 Miles Anniversary Bonus
You receive 10,000 bonus miles for each card anniversary. This gift is worth $100 in award travel. If you combine this bonus with the $300 annual travel credit, the $395 annual fee is completely wiped out. Therefore, it is important to take advantage of both the $300 credit and the 10,000 mile bonus each year.
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. With a $695 annual fee (see rates & fees), it is essential to take advantage of as many of the statement credits as possible. In many cases, you can come out hundreds of dollars ahead. It is important to understand the terms for each credit so you get the full benefit.
Travel Statement Credits
These annual statement credits can help stretch your travel budget:
- Up to 200 Airline Fee Statement Credit: Reimburses incidental fees for one qualifying airline of your choice each calendar year.
- Up to 200 Hotel Statement Credit: On select prepaid Fine Hotels + Resorts or The Hotel Collection bookings with American Express Travel. Minimum two-night stay required.
- Up to $200 in Uber Credits: $15 per month ($35 in December) for Uber rides and eats in the US each year.
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.
- Up to $100 Shop Saks with Platinum: Two semi-annual credits worth $50 at Saks Fifth Avenue or Saks.com. Saks is a fairly expensive retailer, so we highly recommend searching for a coupon before using your semi-annual credit.
- $155 Walmart+ Credit: Reimburses your Walmart+ monthly membership fee ($12.95 + applicable local sales tax). Plus Ups are excluded.
- Up to $240 Digital Entertainment Credit: $20 per month at Audible, Disney+, ESPN+, Hulu, Peacock, The Disney Bundle, The New York Times, and SiriusXM. Enrollment required.
- $300 Equinox Credit: Up to $300 per year for the Equinox+ digital fitness app or an Equinox club membership. Enrollment required.
- $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. Enrollment required.
- Marriott Bonvoy Gold Elite status. Enrollment required.
- Avis, Hertz, and National car rental privileges. Enrollment required.
Cardmembers can also secure exclusive dining reservations through Resy. In some cases, it is possible to get a table at a fully booked restaurant, so we highly recommend this service.
Travel and Purchase Protection
Both cards offer competitive travel insurance and purchase protection benefits.
Here are the maximum coverage amounts:
|Capital One Venture X Rewards||Amex 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|
|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|
|Emergency Evacuation||N/A||Up 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 Warranty||One additional year for warranties of 3 years or less||One additional year for warranties of 5 years or less|
|Cell Phone Protection||Up to $800 per claim ($1,600 per year) after a $50 deductible||Up 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. Please see additional important American Express Platinum Card insurance benefit information at the bottom of this page.
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 Credit Card – (Learn How to Apply Here) 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. This includes the popular Centurion Lounge network.
- 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. The 5x points per dollar spent (on up to $500,000 per year) is extremely valuable for frequent flyers.
- Combine Membership Rewards: This card can also be a natural fit if you already use the American Express® Gold Card – (Learn How to Apply Here) or another product that is more likely to earn bonus points on non-travel purchases.
The Vacationer’s Final Thoughts
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.
Important American Express Insurance Information:
Trip Delay Insurance: Up to $500 per Covered Trip that is delayed for more than 6 hours; and 2 claims per Eligible Card per 12 consecutive month period. Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by New Hampshire Insurance Company, an AIG Company.
Trip Cancellation and Interruption Insurance: The maximum benefit amount for Trip Cancellation and Interruption Insurance is $10,000 per Covered Trip and $20,000 per Eligible Card per 12 consecutive month period. Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. 11/11/2021 AXP Internal 2 an Express® Card, Business Platinum Card®, Delta Reserve for Business Credit Card, The American Express Corporate Platinum Card® Underwritten by New Hampshire Insurance Company, an AIG Company. Please visit americanexpress.com/benefitsguide for more details. Underwritten by New Hampshire Insurance Company, an AIG Company.
Baggage Insurance Plan: Baggage Insurance Plan coverage can be in effect for Covered Persons for eligible lost, damaged, or stolen Baggage during their travel on a Common Carrier Vehicle (e.g. plane, train, ship, or bus) when the Entire Fare for a ticket for the trip (one-way or round-trip) is charged to an Eligible Card. Coverage can be provided for up to $2,000 for checked Baggage and up to a combined maximum of $3,000 for checked and carry- on Baggage, in excess of coverage provided by the Common Carrier. The coverage is also subject to a $3,000 aggregate limit per Covered Trip. For New York State residents, 11/11/2021 AXP Internal 7 there is a $2,000 per bag/suitcase limit for each Covered Person with a $10,000 aggregate maximum for all Covered Persons per Covered Trip. 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.
Car Rental Loss & Damage Insurance: Car Rental Loss and Damage Insurance can provide coverage up to $75,000 for theft of or damage to most rental vehicles when you use your eligible Card to reserve and pay for the entire eligible vehicle rental and decline the collision damage waiver or similar option offered by the Commercial Car Rental Company. This product provides secondary coverage and does not include liability coverage. Not all vehicle types or rentals are covered. Geographic restrictions 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. Car Rental Loss or Damage Coverage is offered through American Express Travel Related
Premium Global Assist Hotline: You can rely on Global Assist Hotline 24 hours a day / 7 days a week for medical, legal, financial or other select emergency coordination and assistance services while traveling more than 100 miles away from your home. Plus, we may provide emergency medical transportation assistance and related services. Third-party service costs may be your responsibility. Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. If approved and coordinated by Premium Global Assist Hotline, emergency medical transportation assistance may be provided at no cost. In any other circumstance, Card Members may be responsible for the costs charged by third-party service providers.
Purchase Protection: Purchase Protection is an embedded benefit of your Card Membership and requires no enrollment. It can help protect Covered Purchases made on your Eligible Card when they’re accidentally damaged, stolen, or lost, for up to 90 days from the Covered Purchase date. The coverage is limited up to $10,000 per occurrence, up to $50,000 per Card Member account per calendar year. Coverage Limits 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.
Return Protection: With Return Protection, you may return eligible purchases to American Express if the seller won’t take them back up to 90 days from the date of purchase. American Express may refund the full purchase price excluding shipping and handling, up to $300 per item, up to a maximum of $1,000 per calendar year per Card account, if you purchased it entirely with your eligible American Express® Card. Purchases must be made in the U.S. or its territories. Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details.
Extended Warranty: When an American Express® Card Member charges a Covered Purchase to an Eligible Card, Extended Warranty§ can provide up to one extra year added to the Original Manufacturer’s Warranty. Applies to warranties of five (5) years or less. Coverage is up to the actual amount charged to your Card for the item up to a maximum of $10,000; not to exceed $50,000 per Card Member account per calendar year. 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.
Cell Phone Protection: Coverage for a Stolen or damaged Eligible Cellular Wireless Telephone is subject to the terms, conditions, exclusions and limits of liability of this benefit. The maximum liability is $800, per claim, per Eligible Card Account. Each claim is subject to a $50 deductible. Coverage is limited to two (2) claims per Eligible Card Account per 12 month period. Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by New Hampshire Insurance Company, an AIG Company.
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