Capital One surprised everyone when they introduced a new premium travel credit card in late 2021. But what’s even more surprising is how popular this credit card is. After all, premium travel credit cards like The Platinum Card® from American Express and Chase Sapphire Reserve have dominated the premium card market for years.
Who would have thought that Capital One could imagine a card with such an amazing combination of features and features? I’m a longtime Chase fan, but I even signed up for the Capital One Venture X Rewards credit card right away.
When you break down the details for this new travel credit card, it’s easy to see why anyone would want one—especially for the first year. From its generous travel bonus rates to its data credit offers, including a credit statement for rental reservations, there’s a lot to love about Capital One Venture X.
Quick Details of Capital One Venture X
- 100,000 bonus miles when you spend $10,000 on purchases within six months of account opening
- Up to $200 in balance sheets for vacation rentals during the first year
- 10 miles on hotels and rental cars booked through Capital One Travel, 5X miles on flights booked through Capital One Travel, and 2X miles on all other purchases
- 10,000 bonus miles when you renew your card on your account’s anniversary
- Up to $300 in annual statements for Capital One Travel purchases
- $395 annual fee
One of the first details to note about Capital One Venture X is its $395 annual fee, which is significantly lower than the annual fee charged by other premium cards. Annual travel credit of up to $300 and a maximum of $200 for vacation rentals will offset this fee in the first year.
Note also that cardholders get other valuable perks like credit (up to $100) toward Global Entry or TSA PreCheck membership and Priority Pass Select airport lounge membership ($429). Capital One Venture X card holders can also access Capital One airport lounges.
Finally, don’t forget that Capital One miles are very flexible, especially for travel. Not only can you use your miles to cover travel deducted from your account, but you can also transfer miles to airlines and Capital One partners. You can even exchange your miles for cash back, statement credits, gift cards, and merchandise.
Why Capital One Venture X is a good choice for vacation rentals
If you’re someone who likes to stay in vacation rentals rather than traditional hotels and resorts, Capital One Venture X can be very attractive – especially in the first year. This is primarily due to the Capital One Venture X vacation rental credit of up to $200 that you receive for eligible vacation rental bookings during the first year of Card Membership.
Also note that in some destinations, Capital One Travel offers vacation rental options in addition to regular hotels and resorts. This is important because this card also comes with an annual balance of $300 that you can use for bookings through Capital One Travel each year.
For example, I found multiple apartment-style booking options through Capital One Travel in Destin, Florida, including a two-bedroom apartment with a balcony that can be booked for $234 a night.
In Gulf Shores, Alabama, on the other hand, Capital One Travel offers a luxurious three-bedroom apartment that can be booked for $489 a night.
These are just some of the rental-style lodging options that you can find on the Capital One Travel portal, but there are many others. The key to using up to $300 travel credit for vacation rentals is as flexible as possible with your destination and travel dates.
Which merchants are counted towards the $200 vacation rental balance?
When it comes to the Capital One Venture X rental rental credit you get within your first year of card membership, it’s important to know which rental companies qualify. Fortunately, the Capital One website states this part very clearly within the cardholder’s terms and conditions.
According to Capital One, eligible holiday rental merchants include Airbnb, Turnkey, Vacasa and VRBO.
How to Use a Rental Credit in Venture X
The Capital One Venture X rental credit is very easy to use. All you have to do is charge a vacation rental fee from an eligible company to your Capital One Venture X within the first year of obtaining the card. From there, Capital One will automatically apply the credit to your account as an individual credit for purchases of $200 or more. If your rental lease hold is less than $200, Capital One will offer multiple statement credits until you’ve fully used up the $200 in your vacation rental balance.
According to the detailed text, the balance(s) should appear in your account within one to seven business days. However, it may take up to two billing cycles to receive your credits.
Other travel cards to consider
If you’re thinking about getting a premium travel credit card because you want access to premium benefits like airport lounge access and Global Entry or TSA PreCheck membership, the usual suspects like Amex Platinum and Chase Sapphire Reserve can make a lot of sense. After all, both travel credit cards offer these perks and more, albeit at a much higher annual fee ($695 for Amex Platinum and $550 for Chase Sapphire Reserve).
You might be trying to avoid paying hundreds of dollars for a travel credit card. In that case, you can always consider the traditional Capital One Venture Rewards credit card, which offers a generous welcome bonus and 2X miles on every spend for a $95 annual fee.
Of course, if you want transferable points without having to pay more than $100 annually, the Chase Sapphire Preferred Card is one of the most popular. This card offers an additional 60,000 points when you spend $4,000 on purchases within three months of opening the account. In the meantime, you also earn 5x points on travel booked through Chase Ultimate Rewards, 5x points on Lyft flights (until March 2022), 3x points on online grocery purchases, dining and select streaming services, and 2x points on other travel purchases and 1 X point on everything you buy.
Capital One Venture X is an excellent credit card for vacation rentals, but it’s also useful for other types of travel. Welcome bonuses for the first year and continuing bonuses can also make a powerful rewards credit card for all your expenses and bills.
However, it doesn’t hurt to compare other travel credit cards, including other Capital One credit cards. And if you can’t settle on one travel credit card, don’t be afraid to sign up for more than one.