Key takeaways

  • 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.

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. We’ll break down those details to help you decide which might be best for your wallet.

Main details

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
Rewards rate
  • 10X miles on hotels and rental cars booked through Capital One Travel
  • 5X miles on flights booked through Capital One Travel
  • 2X miles on everything else
  • 5X points on up to $500,000 spent per year on flights booked directly with airlines or through American Express Travel
  • 5X points on prepaid hotels booked through Amex Travel
  • 2X points on other eligible travel through Amex Travel
  • 1X points one everything else
Intro APR No introductory APR No introductory APR
Annual fee $395 $695

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:

Amex Platinum

Capital One Venture X

Capital One Venture X

Tie

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, then the Amex Platinum will be 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, let’s say your spending for the year breaks down like this:

  • $6,000 on airfare
  • $2,000 at hotels
  • $2,000 at restaurants
  • $8,000 of additional spending

The chart below shows how many rewards points or miles you’d earn based on how you spent your money for the year:

Capital One Venture X Platinum Card from American Express
Welcome bonus rewards 75,000 miles 80,000 points
Airfare rewards 30,000 miles (if booked through Capital One Travel) 30,000 points (if booked through American Express Travel)
Hotel rewards 20,000 miles (if booked through Capital One Travel) 10,000 points (if booked through American Express Travel)
Restaurant rewards 4,000 miles (counts as non-category spending) 2,000 points (counts as non-category spending)
Additional non-category spending rewards 16,000 miles 8,000 points
Total rewards 145,000 miles 130,000 points

If you have the Venture X, you would accumulate a total of 145,000 miles. According to Bankrate’s valuations, Capital One miles are worth an average of 1.7 cents each when transferred to a high-value travel partner; that means your miles for the year could be worth   $2,465 on average. After you subtract the $395 annual fee, you’d have about $2,070 in total earnings left over.

With the Amex Platinum card, you’d earn 130,000 points, which is obviously less. However Bankrate values Membership Rewards points at an average of 2.0 cents each with transfer to a high-value transfer partner, meaning those points could be worth $2,600 on average. You’ll be left with $1,905 in earnings after paying the card’s $695 annual fee.

The Capital One Venture X Card will net you more rewards miles overall within the first year of card ownership, even taking into account the card’s smaller welcome bonus. However, it’s important to note that because the Amex Platinum’s rewards points are worth more on average than Capital One Venture X miles when transferred to travel partners, it might still be more beneficial to choose American Express if you plan on using your card mainly for airfare. Further, Amex Platinum offers a number of additional credit opportunities to further help offset the fee.

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.
  • You can use miles to book travel through Capital One Travel or as statement credit to cover a recent travel purchase. Alternatively, you can transfer your miles to a partner loyalty program, which is likely where the top value can be found.

    If you don’t want to use your miles for travel, you can redeem them for gift cards, cash or purchases at Amazon.com.
  • 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.

However, the Amex Platinum features other benefits with values that can add up fast if you use them consistently.

Additional benefits

  • The Amex Platinum offers a plethora of credit opportunities, 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+ membership credits (annually)
    • Up to $200 in Uber Cash (annually)
    • Up to $200 in airline fee credits for incidentals with a pre-selected 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 ($50 in each half of the year)
    • Up to $100 in application fee credits for Global Entry or TSA PreCheck (every four or 4.5 years, respectively)
    • $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 airport lounges through complimentary Priority Pass Select membership as well as access to the Centurion Lounge network, 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.
  • 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 strong rewards rate, including its 2X points baseline rewards rate. Others may opt for the more generous welcome offer, additional statement credits and higher points value of the Amex Platinum. If you’re looking for a luxury travel card and can justify the annual fee, either card will likely make a great addition to your wallet.

Issuer-required statement
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.