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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 not only for earning rewards, but also come with several perks that are exclusive to cardholders. While both cards are considered some of the best travel rewards cards to have in your arsenal, they are also good to earn on everyday spending (particularly relevant in 2021).

In this Capital One Venture vs Amex Platinum comparison, we’ll look at the pros and cons of each, as well as the exciting bonus offers available, to help you determine which is the better fit for you.

Terms apply to American Express benefits and offers. Visit americanexpress.com to learn more.

60k Bonus With Capital One Venture Rewards Credit Card (Learn more: Travel Rewards Credit Cards)

100k Bonus With The Platinum Card® from American Express (Learn more: Johnny Jet Recommended Credit Cards)

Use this Capital One Venture vs Amex Platinum review to help you find the best travel card for your goals. Taking a JetBlue Mint flight from JFK-LAX back in fall 2018.

Capital One Venture vs Amex Platinum

The Capital One Venture Rewards Credit Card earns a flat unlimited 2x miles per $1 on purchases. Its annual fee is $95.

Meanwhile, The Platinum Card® from American Express is a premium travel credit card. It earns 5 points per $1 on select travel purchases and has several premium travel benefits. The annual fee is $695 (See Rates & Fees) but can be offset with the perks, which are valued at over $1,400.

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

The Capital One Venture Rewards Credit Card has an annual fee of $95. There are no foreign transaction fees.

The Platinum Card has a $695 annual fee but no foreign transaction fees (See Rates & Fees). At first glance, this fee is high. In fact, it’s one of the most expensive credit cards you can own. But this credit card offers many lucrative travel and shopping credits as well as fringe benefits that can make the effective annual fee much lower.

Both cards are good for international travel as well.

Verdict: Capital One Venture Rewards Credit Card (Learn more: Rewards Credit Cards)

Signup/Welcome Bonus

New Capital One Venture Rewards Credit Card cardholders can earn 60,000 miles after spending $3,000 on purchases in the first 3 months.

Learn more: Travel Rewards Credit Cards

New The Platinum Card® from American Express cardmembers can earn 100,000 Membership Rewards® Points after spending $6,000 on purchases on the Card in the first 6 months of Card Membership. New cardholders also earn 10x points on eligible purchases on the Card at restaurants worldwide and when you Shop Small in the U.S., on up to $25,000 in combined purchases, during your first 6 months of Card Membership. Terms apply. 

However, some users have reported that they’ve been offered the chance to earn a targeted American Express Platinum 150k bonus offer.

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

Verdict: The Platinum Card® from American Express (Learn more: Johnny Jet Recommended Credit Cards)

Capital One Venture vs Amex Platinum: Earning Points

The Capital One Venture Rewards Credit Card earns unlimited 2x miles on every purchase. Earning at least 2x miles on everything is easy. There are no bonus categories to calculate and you don’t have to worry about any limits. You can learn more about how to get the most out of this card in this in-depth Capital One Venture Rewards card review.

The Platinum Card from Amex earns in several categories:

  • 5x points for flights booked directly with airlines or with American Express Travel, up to $500,000 on these purchases per calendar year
  • 5x points on prepaid hotels booked on amextravel.com
  • 1x points for everything else
  • Terms apply

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).

Similarly, if you want to learn more about the different ways to earn points and how you might maximize them, the in-depth American Express Platinum review is a good place to start.

Verdict: The Platinum Card® from American Express (Learn more: Johnny Jet Recommended 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 by transferring them or use your miles to book flights, hotels, and more. Each mile is worth 1 cent each. You can also use your miles at Amazon.com or PayPal. 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 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. Cardholders can transfer miles to over 15+ leading travel loyalty programs, including new Capital One hotel transfer partners.

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.

Verdict: Varies. The Capital One Venture Rewards Credit Card is better if you prefer to redeem your points for any travel purchase.

The Platinum Card® from American Express (Learn more: Johnny Jet Recommended Credit Cards) is better if you want 1:1 point transfer to more popular airlines 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, up to $100. You also get standard Visa Signature benefits including secondary rental car insurance.

There are many Amex Platinum travel benefits. The value of these benefits alone can exceed the $695 annual fee. Plus, frequent flyers can easily use them.

  • $200 airline fee credit (in the form of a statement credit; enrollment required)
  • $200 in annual Uber credits (terms apply)
  • Airport lounge access (Centurion, Priority Pass (enrollment required), Delta Sky Club, Airspace, and Plaza Premium networks)
  • Global Entry or TSA PreCheck application fee credit
  • Marriott Bonvoy Elite Gold and Hilton Honors Gold status (enrollment required)
  • Up to $3,000 in baggage insurance

You can also get up to $100 in Saks shopping credits ($50 semi-annually; enrollment required).

Cardholders can get $200 back in statement credits each year on prepaid Fine Hotels + Resorts® or The Hotel Collection bookings with American Express Travel when paying with their Platinum Card®.

If you ride Uber or use Uber Eats, this credit will make you happy. Cardholders can enjoy Uber VIP status and up to $200 in Uber savings on rides or eats orders in the US annually. Uber Cash and Uber VIP status available to Basic Card Member only.

Plus, American Express has expanded The Centurion® Network to include 40+ Centurion Lounge and Studio locations worldwide. Now there are even more places your Platinum Card® can get you complimentary entry and exclusive perks.

Terms apply. Enrollment may be required.

New The Platinum Card from American Express Benefits

There’s also a new digital entertainment credit. Cardholders can get up to $20 in statement credits each month when you pay for eligible purchases with The Platinum Card® from American Express at your choice of one or more of the following providers: Peacock, Audible, SiriusXM, and The New York Times. Enrollment required.

In addition to enjoying TSA PreCheck or Global Entry access, cardholders can also enjoy CLEAR perks. Cardholders can use their Card and get up to $179 back per year on their CLEAR® membership. Terms apply.

Another exciting new benefit is the ability for cardholders to enjoy up to $25 back each month on select Equinox memberships. This amounts to up to $300 annually. Enrollment required. 

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 wait until you have at least a 740 credit score or good to 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 Go 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
  • The Amex Platinum travel benefits are not worth the $695 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 is also a huge plus.

When to Go 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 select travel
  • Will transfer your American Express Membership Rewards points to redeem for travel
  • Can use the $200 airline fee credit and airport lounge access (enrollment required)

Summary

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.

60k Bonus With Capital One Venture Rewards Credit Card (Learn more: Travel Rewards Credit Cards)

100k Bonus With The Platinum Card® from American Express (Learn more: Johnny Jet Recommended Credit Cards)

Related Articles:

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

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