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If you want a low-cost premium travel credit card, the Capital One Venture X Rewards Credit Card should be on your radar. You’ll also be happy to hear this card is now accepting applications. Plus, the first applicants can qualify for a signup bonus worth $750! New Capital One Venture X Rewards Credit Cards cardholders can earn 75,000 bonus miles when they spend $4,000 on purchases in the first 3 months from account opening, equal to $750 in travel.

Learn more: Travel Rewards Credit Cards

About the Capital One Venture X Rewards Credit Card

This is Capital One’s first-ever premium credit card. It has a $395 annual fee, no foreign transaction fee, and no authorized user fee. While this fee may seem high, this card offers many travel perks that other similar cards offer at a $550+ annual fee.

You may even consider canceling your pricier premium rewards card to enjoy similar benefits at a lower cost.

Learn more: Travel Rewards Credit Cards

Signup Bonus

New Capital One Venture X Rewards Credit Cards cardholders can earn 75,000 bonus miles when they spend $4,000 on purchases in the first 3 months from account opening, equal to $750 in travel.

While the new cardholder spending bonus isn’t the only reason to get a new credit card, you can only earn this bonus once.

Related: Best Capital One credit cards

Ongoing Capital One Venture X Rewards Credit Card Benefits

Whether you apply for this card now or wait a few months, you also get access to these travel perks upon application approval.

$300 Annual Travel Credit

The first $300 in annual purchases through Capital One Travel receive reimbursement as a statement credit.

It’s possible to book flights, hotels, car rentals, and vacation packages through the credit card’s online travel portal.

Airport Lounge Access

This card gives you access to two different airport lounge networks:

The Capital One Lounge network is also brand-new and the first lounge spot opened in early November at Dallas-Ft.Worth (DFW). Other upcoming locations include Denver (DIA) and Dulles-Washington, D.C. (IAD) in 2022.

Entry to either network is free for Venture X cardholders and two guests. Each additional traveler is $45 per visit.

Venture and Spark Miles cardholders only get two complimentary visits to Capital One lounges per year and must then spend $45 per visit. Each guest also costs $45 per visit.

Free Global Entry or TSA PreCheck

You can receive up to $100 in application fee credits every four years for Global Entry or TSA PreCheck.

As passenger air traffic rebounds from its pandemic lows, expedited airport security can be vital to reaching your gate on time. Plus, there are many more productive things to do than wait in line.

10,000 Anniversary Miles

In addition to having a low $395 annual fee, you receive 10,000 bonus miles each card anniversary. This perk is worth $100 in travel rewards.

Learn more: Travel Rewards Credit Cards

Earn up to 10x Miles on Purchases

You can earn up to 10x miles per $1 on select travel purchases:

  • 10x on hotel and rental cars booked through Capital One Travel
  • 5x on flights booked through Capital One Travel
  • 2x on all remaining purchases

Flexible Redemption Options

You have three ways to redeem Capital One miles:

  • Travel statement credits
  • Upcoming travel through Capital One Travel
  • Airline and hotel point transfers

Each mile is worth 1 cent for travel statement credits or booking upcoming itineraries.

Your miles can be worth more when you transfer them to one of the transfer partners. Many of these loyalty programs now have a 1:1 transfer ratio.

Hertz Presidents Circle Status

The automatic Hertz Presidents Circle loyalty status can be valuable if you regularly rent cars when you travel.

You can enjoy guaranteed upgrades and the widest selection of vehicles. It can be difficult to rent cars at popular travel destinations, and these elite privileges can be extremely valuable.

All cardholders will enjoy this accelerated status through December 31, 2024.

Cell Phone Protection

Paying your monthly cell phone bill with the Venture X Credit Card means you can receive up to $800 in cell phone insurance for accidental theft and damage.

Free Additional Cards

Authorized user cards are free, which is unique for premium travel cards. Additional users can also enjoy the airport lounge benefits and earn up to 10x miles on purchases.

However, the Global Entry or TSA PreCheck application fee credit applies to the first charge every four years.

As you might expect for one of the best travel credit cards, you won’t pay a foreign transaction fee on purchases.

Do You Qualify for the Capital One Venture X Rewards Credit Card?

The Capital One Venture X Rewards Credit Card requires excellent credit, and you will have the best approval odds with a minimum 740 credit score.

However, it’s possible to qualify with a score above 700 if you’re current on your recent cards and have not had a recent history of back-to-back card applications.

Some additional Capital One application guidelines include:

  • Your monthly income exceeds your rent or mortgage payment by at least $425
  • Haven’t applied for two or more Capital One credit cards in the last 30 days
  • Are not currently over your credit line for a Capital One credit card

Perhaps the most important decision factor is deciding if you can qualify for the signup bonus. After all, you may not want to waste a credit check if you don’t qualify for the bonus offer.

You will qualify for this card even if you have previously earned one for the $95-a-year Capital One Venture Rewards Credit Card, which is in the same family.

Summary

The first few months that a card has been released are usually the best times to apply as it’s common to receive special bonus offers. Once the card establishes a user base, these offers disappear, and you may have to wait a long time for the next limited-time offer to appear.

In addition to the bonus, the Venture X travel benefits are some of the best. Plus, it’s hard to compete with its low $395 annual fee.

Learn more: Travel Rewards Credit Cards

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