OUR FAVORITE PARTNER CARDS

New 60,000 points offer. Terms apply.

50,000 Bonus Miles! 2x Miles on All Spending, $95 Annual Fee waived, TSA PreCheck Credit.

This post contains references to products from one or more of our advertisers. We may receive compensation when you click on links to those products. For an explanation of our Advertising Disclosure, visit this page.

So you’re trying to figure out if you should play it safe and get the Capital One® Venture® Rewards Credit Card or reach for luxury with The Platinum Card® from American Express. Both cards are great for earning rewards. But there are many differences as you will see in this Capital One Venture vs Amex Platinum comparison.

capital one venture vs amex platinum
Use this Capital One Venture vs Amex Platinum review to help you find the best travel card for your goals. Photo by Martin Péchy from Pexels

Capital One Venture vs Amex Platinum

The Capital One® Venture® Rewards Credit Card earns a flat unlimited 2 miles per $1 on purchases. Its annual fee is $0 for the first 12 months and then $95 each card anniversary. Meanwhile, the Platinum Card® from American Express is a premium travel credit card. It earns 5 points per $1 on select travel purchases but has a $550 annual fee (See Rates & Fees). Learn more about the Platinum Card® from American Express: Travel Rewards Credit Cards

With such stark differences, this is one comparison you want to pay close attention to. You can see which card provides the most value for your travel habits.

Annual Fee

Capital One Venture waives the annual fee for the first year. For each card renewal, you pay $95.

The Platinum Card has a $550 annual fee starting the first year. At first glance, this fee is high. In fact, it’s one of the most expensive credit cards you can own. But this card offers several travel and shopping credits as well as fringe benefits that can make the effective annual fee much lower.

Neither card charges a foreign transaction fee.

Verdict: Capital One® Venture® Rewards Credit Card

Signup/Welcome Bonus

The Capital One Venture Rewards credit card gives you 50,000 bonus Venture miles (worth $500 in award travel) by spending $3,000 in the first 3 months of account opening.

The Amex Platinum is currently offering new cardmembers the ability to earn 60,000 points ($600 value) by spending $4,000 on purchases in the first 3 months of account opening. However, some users have reported that they’ve been offered the chance to earn a targeted American Express Platinum 100k bonus offer (worth $1000 in award travel) with the same minimum spend.

Note that both cards are among the list of the best credit card offers.

Verdict: Platinum Card® from American Express (Learn more: Travel Rewards Credit Cards)

Capital One Venture vs Amex Platinum: Earning Points

The Capital One Venture Rewards Credit Card earns unlimited 2x miles on every purchase. Through January 2020, Hotels.com/venture purchases earn 10x miles.

The Platinum Card from Amex earns 5x Membership Rewards when booking flights directly from the airline or on AmexTravel. Hotels booked on AmexTravel also earn 5x points. Everything else earns 1x points.

It’s easier to maximize daily spending with the Venture Card. But if you’re a frequent flyer, the Amex Platinum earns double the points than most travel rewards credit cards (which is why it’s one of the best credit cards for travel miles.

Verdict: Platinum Card® from American Express (Learn more: Travel Rewards Credit Cards)

Redeeming Points/Miles

For both cards, your points/miles are most valuable when redeeming for award travel. But both cards offer varying redemption options. Your preferred redemption option and the additional card benefits are probably the two most important factors in knowing which card is the better fit.

Capital One Venture Rewards Credit Card

You can redeem Capital One Venture miles for travel statement credits or book upcoming travel. Each point is worth 1 cent each. This is a better option if you don’t want to always redeem your points for award flights (which Amex Membership Rewards are most valuable for).

You can also transfer your miles to over a dozen airlines usually at a 1.5 to 1 ratio (1000 Venture miles are worth 667 airline miles). There are several overlapping partners with Amex who offer a more favorable transfer ratio. With the exception of JetBlue, the other transfer partners focus on international travel.

Platinum Card from American Express

Your points are worth 1 cent each when booking award flights on AmexTravel.com but less than 1 cent for other award travel. The better option can be transferring your American Express points to the Membership Rewards airline and hotel transfer partners. Most of these partners have a 1:1 transfer ratio and include Delta Airlines, Emirates, British Airways, and Singapore Airlines.

Your points are worth less than 1 cent each if you want to redeem your points for a statement credit.

Verdict: Varies. The Capital One® Venture® Rewards Credit Card is better if you prefer travel statement credits and redeeming your points for any travel purchase. The Platinum Card® from American Express (Learn more: Travel Rewards Credit Cards) is better if you want 1:1 point transfer and want to book award flights.

Capital One Venture vs Amex Platinum: Travel Benefits

The Capital One Venture issues an application fee credit for Global Entry or TSA PreCheck. You also get standard Visa Signature benefits including secondary rental car insurance.

There are too many Amex Platinum travel benefits to list here so we will only list the core benefits. The value of these benefits alone can exceed the $550 annual fee. Plus, frequent flyers can easily use them.

  • $200 airline fee credit
  • $200 in annual Uber credits
  • Free airport lounge access (Centurion, Priority Pass, Delta Sky Club, Airspace, and Plaza Premium networks)
  • Global Entry or TSA PreCheck application fee credit
  • Complimentary Fine Hotels and Resorts benefits (average $550 total value)
  • Marriott Bonvoy Elite Gold and Hilton Honors Gold status
  • Up to $3,000 in baggage insurance

You can also get up to $100 in Saks shopping credits and premium concierge service. If you’re wondering how hard is it to get the American Express Platinum Card, you may be surprised to find that it’s not as difficult as you’d think.

Credit Score Needed

For either card, you should apply once you have at least a 740 credit score, the start of excellent credit. It’s possible to get approved with a score in the low 700s. But you may need to be a current bank member or have a high annual income to boost your approval odds.

If your score is still in the 600s, you will need to apply for a different credit card. Your best option in the Capital One family is the Capital One® VentureOne® Rewards Credit Card. It earns unlimited 1.25 miles on purchases and doesn’t have an annual fee. Check out our comparison of the Capital One Venture vs VentureOne for more information.

When to Apply for the Capital One Venture Rewards Credit Card

The Capital One Venture Rewards wins the Capital One Venture vs Amex Platinum battle in these instances:

  • Can earn more with the 2x flat-rate purchase rewards
  • Prefer redeeming your miles for travel statement credits instead of booking award flights
  • The Amex Platinum travel benefits are not worth the $550 annual fee
  • Have earned the Platinum Card welcome offer in the past

This card is the better option if you are not a frequent flyer who can use the airline fee credit and lounge benefits. Having the flexibility of redeeming your points for any recent travel purchase in any amount is also a huge plus.

When to Apply for the Platinum Card from American Express

Frequent flyers who visit airport lounges, can use the travel credits, and find the other travel perks useful should consider getting the American Express Platinum first.

  • Want to earn 5x points on most airfare and hotels purchases
  • Will transfer your American Express Membership Rewards points to redeem for travel
  • Can use the $200 airline fee credit and airport lounge access
  • You qualify for the targeted 100,000 Membership Rewards welcome offer

Summary – Capital One Venture vs Amex Platinum

Both the Capital One Venture and Amex Platinum are two of the best travel credit cards. Both cards earn above-average rewards and have flexible redemption options. But both cards cater to different travel habits. The most frequent travelers may get more value from the Amex Platinum because of its many benefits.

Learn more: Capital One® Venture® Rewards Credit Card

Learn more about the Platinum Card® from American Express: Travel Rewards Credit Cards

For rates and fees of The Platinum Card® from American Express, please click here.

Josh Patoka

The comments on this page are not provided, reviewed, or otherwise approved by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.

Editorial Note: The editorial content on this page is not provided by any bank, credit card issuer, airlines or hotel chain, and has not been reviewed, approved or otherwise endorsed by any of these entities.

Leave a Reply

Required fields are marked *