When it comes to premium credit cards, the two most popular cards currently in the market today are the Capital One Venture X Credit Card and the American Express Platinum Credit Card. Both of these cards offer excellent travel benefits and rewards but there are other factors to consider when deciding which card is best for you. We have identified five key factors to consider when choosing between these two credit cards and which card is better in each respective category.
1. Annual Fee
American Express – $695
American Express Platinum has an annual fee of $695 proving luxury isn’t cheap. With the high annual fee also comes plenty of perks and benefits including a $200 annual hotel credit, $240 annual digital entertainment credit, $200 Uber Credit and $200 airline fee credit among other perks. In total, cardholders can unlock over $1500 in value which more than offsets the high annual cost. With that being said, the benefits of the card are equivalent to a coupon book which means it will take some effort to truly unlock all the value that comes with the card. It is important to go through all of the benefits to make sure they will be used or else it really is not worth the high annual.
Capital One Venture X – $395
The Capital One Venture X Rewards card has an annual fee of $395, which is much cheaper than the American Express platinum. Cardholders receive $300 in annual travel credit for bookings through the Capital One portal which can essentially offset the annual fee when you also add in the fact you get $100 in Global Entry.
Winner – Capitol One Venture X
The Capital One Venture X wins this category because of the lower initial annual fee and the more versatile $300 annual statement. Although the American Express Platinum offers more overall value, redeeming the yearly credits is more complex and restricted to specific expenses such as uber, Saks fifth, Walmart +, and others.
2. Signup Bonus
American Express – Earn 150,000 Bonus Points after spending $8,000 on purchases within the first 6 months of account opening
Capital One Venture X – Earn 75,000 Bonus Points after spending $4,000 on purchases within the first 3 months of account opening
Winner – American Express Platinum
The American Express Platinum wins this category considering it offers a higher sign-up bonus and although the minimum spend requirement is higher.
3. Reward Structure
American Express:
- 5x Points On Flights
- 5x Points On Hotels
- 1x Points on All Other Purchases
The American Express Platinum offers a reward structure that heavily favors those who travel frequently. Cardholders can earn 5x points on flights booked directly with the airline or through the American Express travel portal. They also earn 5x points on hotels booked through the American Express travel portal. If you don’t travel often, then it will be difficult to accumulate points as the card offers merely 1 point on all other purchases.
Capitol One Venture X:
- 10x Miles On Hotels & Rental cars
- 5x Miles On Flights
- 2x Points On All Other Purchases
Capitol One’s Venture X reward structure requires all travel (Hotels, Rental Cars, Flights) to be booked on Capitol One travel to earn the points multiplier. The 2x points on all other purchases are what makes this card stand out considering it is a premium travel credit card. Generally, travel cards are packed with incentives for traveling and the Venture X is one of the few cards that still offers a double multiplier on all other purchases.
Winner – Capital One Venture X
The Capital One Venture X wins this category because it offers a higher points multiplier on hotels and rental cars compared to the American Express and also gives you 2x bonus points on everyday purchases. Based on this reward structure the Capital One Venture X will be able to accumulate points at a faster rate compared to the American Express Platinum
4. Perks and Benefits
American Express:
- $200 Hotel Credit
- $240 Digital Entertainment Credit
- $200 Uber Cash
- $200 Airline Fee Credit
- $100 Saks Fifth Avenue Credit
- $189 with Clear
- $155 Walmart+
- Global Lounge Access
Platinum cardholders receive plenty of perks and benefits which are valued at over $1500. It is important to go through all of the benefits to make sure it is something that will be used or else this card may not be worth it
Capital One Venture X:
- $300 Annual Travel Credit
- $100 Global Entry or TSA PreCheck Credit
- Access to Priority Pass Lounges and Plaza Premium Group lounge networks
- Free Additional Cardholders
- Cell Phone Protection
Overall Winner
Capital One Venture X
While the Capital One Venture X doesn’t have as many perks as the American Express Platinum, its benefits are more straightforward and offer greater flexibility in how they can be applied. The American Express Platinum’s coupon book style perks can be more restrictive and frankly less convenient. At the end of the day, these cards are both in the category of luxury travel cards which means the objective is to maximize your travel experience and earn as many travel-related benefits as possible while racking up the most amount of points. The American Express Platinum locks you into certain benefits while the Capital One Venture X is much more flexible and that is why it wins this category.
