Capital One Venture X vs. Amex Platinum Card
Key takeaways
- The Capital One Venture X Rewards Credit Card and The Platinum Card® from American Express are two of the top premium travel cards on the market.
- The Venture X has an edge thanks to its higher rewards potential, but the Amex Platinum's welcome offer outshines the former.
- The right option for you may come down to whether you can successfully recoup the Amex Platinum's $695 annual fee.
When the Capital One Venture X Rewards Credit Card launched in late 2021, it joined the ranks of established premium travel cards like The Platinum Card® from American Express. The Venture X and the Amex Platinum have several features in common, and — at first glance — they might look like interchangeable options. Pinpointing their relative strengths and weaknesses requires digging a bit deeper into each card’s rewards structure and other benefits. We’ll break down those details to help you decide which might be best for your wallet.
Main details
| Cards | Capital One Venture X Rewards Credit Card | The Platinum Card from American Express |
|---|---|---|
| Welcome offer | 75,000 miles after spending $4,000 on purchases within the first 3 months | 80,000 points after you spend $8,000 on purchases in your first 6 months |
| Rewards rate |
|
|
| Intro APR | No introductory APR | No introductory APR |
| Annual fee | $395 | $695 |
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Capital One Venture X vs. Amex Platinum highlights
Both the Venture X and Amex Platinum offer significant welcome offers and ample rewards for travel spending, but there are differences you should be aware of before choosing between these cards. Here’s how they compare on some key features:
Amex Platinum
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The Venture X offers a welcome bonus of 75,000 miles (after spending $4,000 within the first 3 months), and the Amex Platinum offers a welcome bonus of 80,000 points (after spending $8,000 within the first 6 months). The Venture X bonus is worth $750 toward travel, and the Amex Platinum offer has an $800 value if used to pay for flights through American Express Travel.
When considering the value of rewards transferred to partners, however, the Amex Platinum definitely takes the lead. According to valuations from Bankrate, an American Express Membership Rewards point is worth an average of 2.0 cents when redeemed with transfer partners, and a Capital One mile is worth an average of 1.7 cents. So, the Amex Platinum welcome offer would be worth about $1,600, and the Venture X bonus would amount to about $1,275.
Capital One Venture X
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The value of a card’s rewards rate can often change depending on how you use it, but — for most people — the Venture X would probably come out ahead. The Venture X offers 10X miles on hotels and rental cars booked through Capital One Travel, while the Amex Platinum offers 5X points on flights booked directly with airlines or through Amex Travel. The Amex Platinum Card also offers 5X points on prepaid hotel reservations through Amex Travel and 2X points on rental cars booked through American Express Travel.
Both offer 5X rewards on flights booked through each card’s respective portal. However, the Venture X grants 2X miles for all other spending, and the Amex Platinum offers just 1X points for spending outside of its bonus categories.
If you’re going to charge hotel rooms and rental cars to the card, you can get more rewards by paying with the Venture X. And if you’re going to use the card in categories other than travel, the Venture X offers a better rewards rate.
On the other hand, if you mainly plan to buy airline tickets, you’ll get fairly similar rewards with either card. In this case, the higher value of American Express Membership Rewards points when redeemed with travel partners could tip the scales in favor of the Amex Platinum.
Capital One Venture X
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The annual fee for the Capital One Venture X is $395, which is $300 less than the fee for the American Express Platinum. The Amex Platinum may still be worth it if you can generate enough rewards to offset the higher cost and manage to use up all or most of its travel and lifestyle statement credits. But if you want to pay less upfront, you should choose the Venture X.
Tie
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Neither card charges foreign transaction fees, so international travelers who want to use their card abroad will do well with either one.
Which card earns the most?
The Venture X and Amex Platinum offer similar rewards structures. While your earnings depend on how you spend, you may get about the same value in miles or points from either card. However, if your spending in the first six months is high enough to earn the Amex Platinum welcome offer, then the Amex Platinum will be more lucrative — at least in the first year.
Capital One Venture X vs. Amex Platinum spending example
To see how the cards compare, let’s look at an annual spending example. Suppose you charge a total of $18,000 to your card within a year, and $10,000 of that is charged within the first 6 months.
Additionally, let’s say your spending for the year breaks down like this:
- $6,000 on airfare
- $2,000 at hotels
- $2,000 at restaurants
- $8,000 of additional spending
The chart below shows how many rewards points or miles you’d earn based on how you spent your money during the first year you have each card:
| Capital One Venture X | Platinum Card from American Express | |
|---|---|---|
| Welcome bonus rewards | 75,000 miles | 80,000 points |
| Airfare rewards | 30,000 miles (if booked through Capital One Travel) | 30,000 points (if booked through American Express Travel) |
| Hotel rewards | 20,000 miles (if booked through Capital One Travel) | 10,000 points (if booked through American Express Travel) |
| Restaurant rewards | 4,000 miles (counts as non-category spending) | 2,000 points (counts as non-category spending) |
| Additional non-category spending rewards | 16,000 miles | 8,000 points |
| Total rewards | 145,000 miles | 130,000 points |
If you have the Venture X, you would accumulate a total of 145,000 miles. According to Bankrate’s valuations, Capital One miles are worth an average of 1.7 cents each when transferred to a high-value travel partner; that means your miles for the year could be worth $2,465 on average. After you subtract the $395 annual fee, you’d have about $2,070 in total earnings left over.
With the Amex Platinum card, you’d earn 130,000 points, which is obviously less. However Bankrate values Membership Rewards points at an average of 2.0 cents each with transfer to a high-value transfer partner, meaning those points could be worth $2,600 on average. You’ll be left with $1,905 in earnings after paying the card’s $695 annual fee.
In this scenario, the Capital One Venture X Card will net you more rewards miles overall within the first year of card ownership — even taking into account the card’s smaller welcome bonus. However, it’s important to note that the Amex Platinum’s rewards points are worth more on average than Capital One Venture X miles when transferred to travel partners. Because of this, it might still be more beneficial to choose American Express if you plan on using your card mainly for airfare. Further, Amex Platinum offers a number of additional statement credit opportunities to further help offset the fee.
Why should you get the Capital One Venture X?
The Venture X offers a better rewards rate on hotels and rental cars compared to the Amex Platinum, so if you spend heavily in these categories, you might prefer the Venture X. And it may be easier to offset the cost of this card given that its annual fee is much lower. Plus, the Venture X’s other benefits can add a lot of value when you travel.
Additional benefits
The Venture X provides up to $300 in annual travel credits for Capital One Travel purchases and 10,000 bonus miles each year on your account anniversary. Plus, it compensates you for your TSA PreCheck or Global Entry application fee with a statement credit of up to $120 every 4 years.
In addition, the card boasts a slew of travel-related perks — including unlimited access to Capital One Lounges and complimentary Priority Pass Select membership (which gets you access to more than 1,300 airport lounges around the world). This Capital One credit card also offers cellphone protection of up to $800, trip cancellation and interruption coverage, travel accident insurance and rental car protection in case of damage or theft. Lastly, it grants you Visa Infinite Concierge benefits, like help with buying tickets or making dinner reservations.
Redemption options
You can use miles to book travel through Capital One Travel or as statement credit to cover a recent travel purchase from the last 90 days. Alternatively, you can transfer your miles to a partner loyalty program, which is likely where the top value can be found.
If you don’t want to use your miles for travel, you can redeem them for gift cards. You can also redeem them for tickets or perks through Capital One Entertainment or for online purchases using Paypal or at Amazon.com.
Recommended credit score
You’ll likely need excellent credit to be approved for a premium card like the Venture X. That generally means your FICO score should be at least 740.
Why should you get the Amex Platinum?
It takes more spending to trigger the Amex Platinum’s welcome offer, so if you’re not sure you can spend $8,000 within the first 6 months, you might be better off choosing the Venture X.
However, the Amex Platinum features other benefits with values that can add up fast if you use them consistently.
Additional benefits
The Amex Platinum offers a plethora of credit opportunities, including:
- Up to $200 annually for prepaid hotel bookings at Fine Hotels + Resorts or The Hotel Collection properties via American Express Travel (2-night minimum stay required)
- Up to $100 experience credit for stays at The Hotel Collection properties (2-night minimum stay required)
- Up to $240 in digital entertainment credits annually (up to $20 per month)
- Up to $155 in Walmart+ membership credits annually ($12.95 per month, plus local taxes; subject to auto-renewal)
- Up to $200 in Uber Cash annually ($15 per month, plus an extra $20 in December)
- Up to $200 per year in airline fee credits for incidentals with a pre-selected airline
- Up to $300 in Equinox fitness statement credits annually (enrollment required)
- Up to $189 in annual CLEAR Plus membership credits
- Up to $100 for Saks Fifth Avenue purchases ($50 in each half of the year)
- Up to $100 in application fee credits for Global Entry or TSA PreCheck (every 4 or 4.5 years, respectively)
- $300 credit for a single SoulCycle At-Home bike purchase made using your card through Amex’s provided link
This American Express credit card also provides additional travel perks like access to airport lounges (through complimentary Priority Pass Select membership as well as access to the Centurion Lounge network), insurance against theft or damage to a rental car, trip cancellation and interruption coverage and help from the Premium Global Assist Hotline when you’re more than 100 miles away from home. You can also enjoy Hilton Honors Gold Status and Marriott Bonvoy Gold Elite Status just by owning the card.
Additional offers are currently available in celebration of the card’s 40th anniversary; most expire on September 30, 2024. Learn more here.
Redemption options
You have the option to transfer points to one of Amex’s partner loyalty programs, pay with points for travel purchases through Amex Travel, pay for purchases at checkout with participating retailers, redeem points for gift cards or use points to cover eligible charges on your account through a statement credit.
Recommended credit score
It takes good to excellent credit to qualify for the Amex Platinum card. You’ll most likely need a FICO score of at least 670.
The bottom line
Choosing between the Capital One Venture X and Amex Platinum is a close call, especially since frequent travelers could be well-served by either card. Some people may prefer the Venture X for its lower annual fee and strong rewards rate, including its 2X points baseline rewards rate. Others may opt for the more generous welcome offer, additional statement credits and higher points value of the Amex Platinum. If you’re looking for a luxury travel card and can justify the annual fee, either card will likely make a great addition to your wallet.
Compare more of the best travel credit cards here.
Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by Amex Assurance Company.
