The Capital One Venture X Rewards Credit Card launch earlier this week represents one of the most exciting new credit cards to come around in a long time.
As Capital One’s new flagship card, the Venture X now enters the world of premium travel rewards cards, taking on incumbent players like The Platinum Card® from American Express and Chase Sapphire Reserve.
The $395-per-year Venture X not only undercuts its main competitors in terms of an annual fee, but it also includes a list of valuable (and comprehensive) perks. Highlights include up to $300 in annual statement credits for bookings made through the Capital One Travel portal, access to Capital One Lounges and Priority Pass lounges and a 10,000-mile anniversary bonus for each cardmember year.
Official application link: Capital One Venture X with 100,000 bonus miles after you spend $10,000 on purchases in the first six months from account opening and up to $200 in statement credits for vacation rental purchases (e.g., Airbnb and Vrbo) in the first cardholder year.
But there is even more value lurking just beneath the surface, including eligibility to apply even if you’re already an existing Capital One Venture Rewards Credit Card cardholder (so you can score the new card’s phenomenal welcome bonus), the ability to add authorized users for free and robust cardholder protections via the card’s Visa Infinite affiliation.
If you’re considering Venture X, here are answers to eight of the major questions you might have.
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Can I apply for Venture X as an existing Venture cardholder?
One of the most pressing questions concerns existing Capital One customers – specifically, whether you can apply for the Venture X if you already have the similarly named Capital One Venture Rewards Credit Card.
The quick answer is: Yes, you can apply for the Venture X card as an existing Venture cardholder. Unlike the Chase Sapphire Preferred Card and Chase Sapphire Reserve – where you can only have one or the other open at any given time – you can hold both the Venture and the Venture X. That’s great news since it means you can apply for the Venture X’s excellent 100,000-mile sign-up bonus and rack up even more Capital One Miles toward travel, even if you already have the Venture.
What are the application restrictions for Capital One cards?
Historically, Capital One has restricted the number of its personal credit cards you have open to two. Cobranded cards and small-business cards (such as the Capital One Spark Miles for Business) are generally excluded.
Capital One is also known to have a rule when it comes to timing your applications. You’re typically only able to get approved for one Capital One card every six months.
Capital One is also pretty sensitive when it comes to recent credit inquiries, such as what you would have if you’ve applied for other cards lately. Anecdotally, though, reports indicate that Capital One may have made it easier to be approved for the Venture X, even if you’ve had multiple card applications in the recent past.
Be strategic about when you apply. For instance, you may want to consider a Chase credit card before the Venture X. That’s because this card will fall under Chase’s “5/24 rule,” meaning you likely will not be approved for a Chase credit card if you’ve opened five or more personal credit cards across all banks in the last 24 months. So if you’re getting near that limit and the Venture X would set you over it, you might want to apply for a Chase card first and then look to the Venture X, since Capital One does not have such a restriction in place.
Can I upgrade to Venture X as an existing Venture cardholder?
According to a Capital One spokesperson, current Venture cardholders whose accounts are in good standing can contact the issuer’s customer service desk to see if they are eligible for an upgrade to Venture X.
Each applicant’s situation will be different and evaluated on a case-by-case basis. In our own test calls to Capital One, phone agents offered to upgrade our Venture cards to Venture X cards, but reiterated that cardholders would not be eligible for a welcome bonus.
It’s very important to evaluate whether you should upgrade or apply as a new applicant.
Upgrades generally have zero impact on your credit score and in many cases, you’ll even keep the same account number. However, you’ll lose out on this significant welcome bonus, which is currently 100,000 bonus miles after you spend $10,000 on purchases in the first six months and up to $200 in statement credits for vacation rental purchases.
So even if you’re eligible to upgrade, you might want to apply for the Venture X outright instead.
Can I combine my Capital One miles across multiple cards?
Is there a fee to add authorized users to Venture X?
No, there is no fee to add up to four authorized users to your Venture X account.
What are the authorized user benefits on Venture X?
Venture X authorized users will have the same Visa Infinite benefits as the primary cardholder, including travel, purchase, luggage and rental car protections (detailed below). In addition, authorized users receive complimentary access for themselves and up to two guests per visit to Capital One Lounges and to more than 1,300 Priority Pass lounges worldwide (including airport restaurants).
Both the primary cardholder as well as authorized users receive Hertz President’s Circle status.
With Venture X categorized as a Visa Infinite card, what benefits does that offer?
- Trip cancellation and interruption insurance: Up to $2,000 per person for you and immediate family members for pre-paid, non-refundable tickets.
- Trip delay reimbursement: Up to $500 per person for reasonable expenses like hotel rooms, food, toiletries or clothes when your flight is delayed overnight or by six hours or more.
- Lost luggage reimbursement: Up to $3,000 per covered trip if the airline damages or loses your bags.
- Cellphone protection: By using the card to pay your monthly wireless bill, you’re eligible for up to $800 in coverage per claim with a maximum of two claims and $1,600 per 12-month period. A $50 deductible applies per occurrence.
- Primary rental car insurance: Up to $75,000 due to damage caused by collision or theft to a rental car.
- Purchase, extended warranty, and return protection: Up to $10,000 per claim and $50,000 per account on purchases; warranties extended by an additional year; returns up to $300 per item and $1,000 per account.
Like some other premium card programs, the Visa Infinite program also includes a dedicated concierge service that can assist with travel and dining arrangements, shopping, access to exclusive events and more.
Find Capital One Venture X’s full guide to benefits here.
What kind of rental car benefits and protection do I get with Venture X?
The Venture X offers complimentary Hertz President’s Circle status, which provides perks such as guaranteed one-class car upgrades and a dedicated Hertz customer service number.
Primary cardholders must enroll through the Benefits Tab link found within the Capital One website or app after logging in. Authorized users are eligible for the benefit as well, but the primary account holder must enroll them on their behalf online. After successful registration, Hertz will process the request and the status will be effective 24-72 hours after registration.
Through Visa Infinite, you also can get primary rental car coverage for up to $75,000 due to damage to a rental car caused by collision or theft.
Benefits are only available to accounts approved for the Visa Infinite card. Terms apply.
The Capital One Venture X has mass appeal and is open to a broader array of applicants than you might initially think. Venture cardholders will likely be better off applying for a new Venture X card instead of upgrading, as you won’t earn a sign-up bonus from an upgrade.
In addition, there are a lot of under-the-radar perks on Venture X, including Visa Infinite benefits with a robust array of trip, luggage, car rental and purchase protections. Finally, Venture X stands out from the rest of the crowd for its no-fee authorized user policy, which includes unlimited lounge access and even Hertz President’s Circle status.
Official application link: Capital One Venture X with 100,000 bonus miles after you spend $10,000 on purchases in the first six months and up to $200 in statement credits for vacation rental purchases.
Featured photo by John Gribben/The Points Guy.