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- The Capital One Venture X Rewards Credit Card and The Platinum Card® from American Express are two of the top premium travel cards on the market
- The Venture X has an edge thanks to its higher rewards potential, but the Amex Platinum's welcome offer outshines the former
- The right option for you may come down to whether you can successfully recoup the Amex Platinum's $695 annual fee or not
When the Capital One Venture X Rewards Credit Card launched in late 2021, it joined the ranks of established premium travel cards like The Platinum Card® from American Express. The Venture X and the Amex Platinum have several features in common, and at first glance, they might look like interchangeable options. Pinpointing their relative strengths and weaknesses requires digging a bit deeper into each card’s rewards structure and other benefits.
|Cards||Capital One Venture X Rewards Credit Card||The Platinum Card from American Express|
|Welcome offer||75,000 miles after spending $4,000 on purchases within the first three months||80,000 points after you spend $8,000 on purchases in your first six months|
|Intro APR||No introductory APR||No introductory APR|
Capital One Venture X vs. Amex Platinum highlights
Both the Venture X and Amex Platinum offer significant welcome offers and ample rewards for travel spending, but there are differences you should be aware of before choosing between these cards. Here’s how they compare on some key features.
Welcome offer winner: Amex Platinum
The Venture X offers a welcome bonus of 75,000 miles (after spending $4,000 within the first three months), and the Amex Platinum offers a welcome bonus of 80,000 points (after spending $8,000 within the first six months). The Venture X bonus is worth $750 toward travel, and the Amex Platinum offer has an $800 value if used to pay for flights through American Express Travel.
When considering the value of rewards transferred to partners, the Amex Platinum definitely takes the lead. According to valuations from Bankrate, an American Express Membership Rewards point is worth up to 2.0 cents when redeemed with transfer partners, and a Capital One mile is worth up to 1.7 cents. So, the Amex Platinum welcome offer would be worth $1,600, and the Venture X bonus would amount to about $1,275.
Rewards rate winner: Capital One Venture X
How good a rewards rate is depends on how you use it, but for most people, the Venture X would probably come out ahead. The Venture X offers 10X miles on hotels and rental cars booked through Capital One Travel, while the Amex Platinum offers only 5X points on prepaid hotel reservations and 2X points on rental cars booked through American Express Travel.
Both offer 5X rewards on flights booked through each card’s respective portal. However, the Venture X grants 2X miles for all other spending, and the Amex Platinum offers just 1X points for spending outside of its bonus categories.
Thus, if you’re going to charge hotel rooms and rental cars to the card, you can get more rewards by paying with the Venture X. And if you’re going to use the card in categories other than travel, the Venture X offers a better rewards rate.
On the other hand, if you mainly plan to buy airline tickets, you’ll get fairly similar rewards with either card. In this case, the higher value of American Express Membership Rewards points when redeemed with travel partners could tip the scales in favor of the Amex Platinum.
Annual fee winner: Capital One Venture X
The annual fee for the Capital One Venture X is $300 less than the fee for the American Express Platinum. The Amex Platinum may still be worth it if you can generate enough rewards to offset the higher cost and manage to use up all or most of its travel and lifestyle statement credits. But if you want to pay less upfront, you should choose the Venture X.
Foreign transaction fee winner: Tie
Neither card charges foreign transaction fees, so international travelers who want to use their card abroad will do well with either one.
Which card earns the most?
The Venture X and Amex Platinum offer similar rewards structures. While your earnings depend on how you spend, you may get about the same value in miles or points from either card. However, if your spending in the first six months is high enough to earn the Amex Platinum welcome offer but not the Venture X bonus, then the Amex Platinum will be a lot more lucrative — at least in the first year.
Capital One Venture X vs. Amex Platinum spending example
To see how the cards compare, let’s look at an annual spending example. Suppose you charge a total of $18,000 to your card within a year, and $10,000 of that is charged within the first six months.
Additionally, say a portion of your spending falls under these categories:
- $6,000 on airfare
- $2,000 at hotels
- $2,000 at restaurants
If you have the Venture X, you would score the welcome bonus for your spending in the first quarter of the year. And assuming you booked your flights through Capital One Travel, you would earn 30,000 miles on your airfare purchases. You would also earn 20,000 miles for hotel spending, but your restaurant spending won’t generate any bonus miles. So, $10,000 of your spending would earn rewards at the 2X rate, getting you another 20,000 miles. Including the sign-up bonus, you would accumulate a total of 145,000 miles, which is worth $2,900 toward high-value transfer partner travel. After you subtract the $395 annual fee, you’ll have $2,505 in total earnings left over.
Let’s consider the Amex Platinum instead. With the Amex card, you’d earn 80,000 points from the welcome offer, 30,000 points from flights and 10,000 points from hotels. Again, your restaurant spending wouldn’t get you any bonus rewards. That leaves you with $10,000 in non-category spending, which would bring in 10,000 points. In total, you’ll have 130,000 points, worth u p to $2,730 toward high-value transfer partner travel. You’ll be left with $2,035 in earnings after paying the card’s $695 annual fee.
Though the Capital One Venture X Card wins on the rewards-rate front, the Platinum Card wins out in the spending example largely due to its current welcome bonus and its average value of 2.0 cents per point when transferred to travel partners.
Why should you get the Capital One Venture X?
The Venture X offers a better rewards rate on hotels and rental cars compared to the Amex Platinum, so if you spend heavily in these categories, you might prefer the Venture X. And it may be easier to offset the cost of this card given that its annual fee is much lower. Plus, the Venture X’s other benefits can add a lot of value when you travel.
The Venture X provides up to $300 in annual travel credits for Capital One Travel purchases and 10,000 bonus miles each year on your account anniversary. Plus, it compensates you for your TSA PreCheck or Global Entry application fee with a statement credit of up to $100 every four years.
In addition, the card boasts a slew of travel-related perks, including unlimited access to Capital One Lounges and complimentary Priority Pass Select membership (which gets you access to more than 1,300 airport lounges around the world). This Capital One credit card also offers cellphone protection of up to $800, trip cancellation and interruption coverage, travel accident insurance and rental car protection in case of damage or theft. Lastly, it grants you Visa Infinite Concierge benefits like help with buying tickets or making dinner reservations, for example.
You can use miles to book travel through Capital One Travel or pay for a recent travel purchase. Alternatively, you can transfer your miles to a partner loyalty program.
If you don’t want to use your miles for travel, you can redeem them for gift cards or cash or purchases at Amazon.com.
Recommended credit score
You’ll need good to excellent credit to be approved for a premium card like the Venture X. That generally means your FICO score should be at least 670, or your VantageScore should be at least 661.
Why should you get the Amex Platinum?
It takes more spending to trigger the Amex Platinum’s welcome offer, so if you’re not sure you can spend $8,000 within the first six months, you might be better off choosing the Venture X.
Additionally, the Amex Platinum features other benefits with values that can add up fast if you use them consistently.
The Amex Platinum offers a plethora of credits, including:
- Up to $200 for prepaid hotel bookings at Fine Hotels + Resorts or The Hotel Collection properties via American Express Travel (annually) (two night minimum stay required)
- Up to $240 in digital entertainment credits (annually)
- Up to $155 in Walmart+ monthly membership credits (annually)
- Up to $200 in Uber Cash (annually)
- Up to $200 in airline fee credits for incidentals with a select airline (annually)
- Up to $300 in Equinox fitness statement credits (annually) (subject to auto-renewal)
- Up to $189 in Clear membership credits (annually)
- Up to $100 for Saks Fifth Avenue purchases (annually)
- Up to $100 in application fee credits for Global Entry or TSA PreCheck (every four years)
- $300 credit for each eligible SoulCycle At-Home bike purchase made using your card through Amex’s provided link
This American Express credit card also provides additional travel perks like access to over 1,300 airport lounges through complimentary Priority Pass Select membership, insurance against lost or damaged rental cars, trip cancellation and interruption coverage and help from the Premium Global Assist Hotline when you’re more than 100 miles away from home. You can also enjoy Hilton Honors Gold Status and Marriott Bonvoy Gold Elite Status just by owning the card.
You have the option to transfer points to a partner loyalty program, pay for purchases at Amazon.com or with other participating retailers, redeem points for gift cards or use points to cover eligible charges on your account. You can also use points to pay the fares for some taxis in New York City.
Recommended credit score
It takes good to excellent credit to qualify for the Amex Platinum card. You’ll most likely need a FICO score of at least 670 or a VantageScore of at least 661.
The bottom line
Choosing between the Venture X and Amex Platinum is a close call, and frequent travelers could be well-served by either card. Some people may prefer the Venture X for its lower annual fee and 2X points baseline rewards rate, while others may opt for the more generous welcome offer and higher points value of the Amex Platinum.
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.