Capital One Venture vs. Venture X: Should You Upgrade?
Link: Apply Now for the Capital One Venture X Rewards Credit Card (this is the best publicly available offer for the card, and we appreciate your support if you use our link)
We recently witnessed the introduction of the new Capital One Venture X Rewards credit card, which is Capital One’s new premium credit card. This card builds on the foundations of the Capital One Venture Rewards credit card (review), which has long been Capital One’s flagship travel credit card.
Naturally, many Capital One Venture cardholders have tried to make sense of Capital One Venture X – which card is better, are you eligible for Venture X if you have Venture, etc.? I wanted to specifically address this topic in this post.
Why the Venture X is better than the Venture
I would say that in almost any circumstance, the Capital One Venture X is a more compelling card than the Capital One Venture.
Let’s start with the main things that cards have in common:
- They both offer 2x Venture miles per dollar spent with no overseas transaction fees, making them the best cards for everyday spending.
- They both offer TSA pre-check or global entry fee credit once every four years
Why do I think the Venture X is a no-brainer over the Venture? The annual card fee is $ 300 higher ($ 395 vs. $ 95), but for that you get:
- A welcome bonus of 100,000 Venture miles plus a $ 200 vacation rental credit after minimal spending, rather than a bonus of 60,000 Venture miles
- A $ 300 credit valid through Capital One Travel each year card, which you can apply to flights, hotels and rental cars
- 10,000 Venture bonus miles on your account anniversary each year, which you can transfer to Capital One’s airline and hotel partners, or can be redeemed for one cent each towards a travel purchase
- A Priority Pass membership plus access to the Capital One lounge (the DFW lounge is amazing); these benefits apply not only to primary cardholders, but also to up to four authorized users, which you can add to your card at no cost
- Hertz President’s Circle status, which will earn you upgrades and more when renting with Hertz
- A variety of protection benefits because it is a Visa Infinite card, including cell phone protection
- 10x miles on hotel and rental car purchases through Capital One Travel, and 5x miles on flight purchases through Capital One Travel
The math just works very favorably here. For the Venture X, you pay $ 300 more per year than the Venture, and the $ 300 Capital One travel credit should cover that. Then you get endless additional perks like anniversary bonus miles, lounge access for you and up to four authorized users, and much more.
How should you acquire the Venture X if you have the Venture?
Suppose you have Capital One Venture and decide to take Capital One Venture X. What’s the best way to go? You have two options – you can either apply directly or you can potentially upgrade your card. Let’s go through the details, as well as the pros and cons of each of these options.
Apply directly for Venture X and receive the bonus
Even if you have the Capital One Venture, you can still apply for the Capital One Venture X and be eligible for the welcome bonus. This is without a doubt the most lucrative way to get the card:
- You would be eligible for the 100,000 Venture Mile Welcome Bonus plus a $ 200 Vacation Rental Credit
- You don’t need to pick up the phone, as you can apply for the card directly online
- The downside to this method is that it would be like any other credit card application, so your credit would be taken out and you would have to be approved for the card; that being said, there are a lot of reports of instant approvals on the card, and you may even end up with a much higher line of credit than you have on the Venture.
Product change and upgrade to Venture X
Most credit card issuers will allow you to switch products between cards of the same “family”, assuming that you have had a card for at least 12 months (generally, switching products is not possible within of the first year). This will be an option for many, but is usually not as lucrative:
- You do not receive the welcome bonus if you switch products or switch from Venture to Venture X
- Some Venture cardholders are targeted for a 50,000 mile upgrade offer if they switch from Venture to Venture X; however, this is targeted (so check your email or online account), and besides it is still a far cry from the standard 100,000 mile welcome bonus plus a $ 200 vacation rental credit.
- The advantage of this option is that there is usually no withdrawal of credit when switching products (although you will want to officially check when you make the request, depending on your situation); so this could be useful if you think you don’t get approved, or if you’re trying to stay under Chase’s 5/24 limit.
The strategy I would adopt to acquire the Venture X
If this was me, I would try to apply directly for Capital One Venture X, given the exceptional welcome bonus offered. Unless you have a specific reason why this would be a problem, this seems like the best bet. Personally, I rate Capital One miles at 1.7 cents each, so this welcome bonus is worth around $ 1,900 to me, which is huge.
I would therefore apply without hesitation, even if I had the Venture Card. However, if you are refused or have approval issues, you can always try switching products from Venture to Venture X later on. Even if you are rejected for the application, it will not affect your chances of being able to. to the change of product on the card in the future.
At the end of the line
The new Capital One Venture X is incredibly lucrative. In my opinion, it’s a no-brainer to get this card on Capital One Venture. Although the annual fee is $ 300 higher, there are many additional perks that should come in handy for anyone who travels at any frequency.
For those who already have the Venture, there are several ways to acquire the Venture X. You can apply directly, which I would, since you are eligible for the massive bonus on the map. Alternatively, you may also be able to switch products. The catch is, you won’t be eligible for the full bonus – you may be targeted for some sort of upgrade offer, but it will be 50,000 Venture miles at most.
If you have Capital One Venture, do you get Capital One Venture X? If so, what approach do you take?