Capital One Venture X - The #1 Credit Card of 2024?

this is the Capital One Venture X and according to many people it's the best credit card on the market because it's got a huge sign bonus great features and benefits and Capital One basically pays you to have it however in my opinion it's still not exactly a perfect credit card because the Venture X does have a few pretty significant limitations that we'll talk about later on here so my goal with this video is just to let you guys know the truth about this card and exactly what kind of value it really offers starting with that huge signup bonus which currently sits at 75,000 Capital 1 miles after spending $4,000 within your first 3 months now in the past we've seen some limited time offers for 990,000 Mi through different special links but 75,000 Mi has been the standard offer here that we're going to focus on in this video and what those miles are actually worth is going to depend on how you choose to redeem them which we'll go over later as well but for now the easy way to Value them is at 1 cent per mile which is what you get when you redeem for travel through the capital 1 portal or by redeeming miles to cover previous travel purchases that are made outside of the portal so 75,000 Mi is going to be worth at least $750 for tra travel now first of all what that means is that if you know you're already going to spend 4,000 bucks in 3 months within your normal spending habits then getting that welcome bonus is going to make the Venture X worth it for you in year one no matter what because even though this card also has a $395 annual fee you're obviously coming out well ahead of that but then on top of that you're also going to get an anniversary bonus with this card plus a travel credit which can also help to offset that fee now the way that these benefits work is that starting with your first account anniversary in year 2 with the Venture X for every year that you go ahead and renew this card Capital One is going to give you a 10,000 M anniversary bonus that's worth at least $100 again at a 1 cent per mile minimum value so unfortunately you do not get the anniversary bonus in year 1 because you get that welcome bonus instead but at least Capital One basically gives you sort of an automatic retention offer every year then you also get a $300 annual Travel Credit in the form of an upfront discount on travel booked through the capital 1 portal and this credit is going to be available to you in year 1 as soon as you open the card so basically if you know you're going to travel is little as just once per year and you're going to spend at least 300 bucks on some flights hotel stays or car rentals then just use the Capital One portal and you should be able to get back $300 in value every year now if we do the math here that means in year one with Venture X you get that 75,000 Mi welcome bonus after you hit the minimum spend and we'll get to the spending multipliers later but the Venture X also earns a minimum of 2x m per dollar on everything which means the $4,000 minimum spend should also be earning you at least another 8,000 miles in the process for a total of at least 83,000 Mi and that's going to be worth at least $830 at a value of 1 cent per mile plus again you get that $300 travel credit right away when you get this card so if we take the combined minimum value of all those miles plus the travel credit and then minus the annual fee without considering anything else you're getting at least $735 of positive expected value in year one at a minimum now in year two with the venturex you no longer have that welcome bonus but like I said if you renew this car then you're going to get that 10,000 Mi anniversary bonus which is worth at least $100 plus you get access to that same $300 travel credit again around the same time your account renews with that $3.95 annual fee so without considering any miles earned from spending or value from any other features on this card you're still coming out ahead by five bucks over that annual fee in year two and basically every other single year after that as well now if you want to plug in your own numbers and play around here to see if the Ventra X is going to be worth it for you in your situation then we've got a link down below to a calculator you can go ahead and use if you want to learn more about this card and as always those links are the best way to support the free content here on this channel so thank you to anyone that uses them but before you check out that link let's go ahead and go over everything else you need to know here about the Venture X including some of those limitations it has that I mentioned earlier so the next major way that people are going to get a lot of value from this credit card are going to be from its spending multipliers now I already said the Venture X earns 2x m per dollar on everything which makes it one of the best catch all credit cards on the market for spending on miscellaneous purchases but the Venture X is also going to earn 10x m per dollar on hotels and car rentals and then 5x m per dollar on flights however the catch here with that and the first limitation of this card is that you're only going to be earning those 10x and 5x multipliers if you book travel in those categories through the capital 1 Travel portal now there's good news and bad news here with this limitation so the bad news is that obviously you're going to be locked into the Capital One travel ecosystem here if you want to earn miles on travel purchases at those higher rates and that's because if you book travel outside of the capital 1 portal then you're only earning 2x m per dollar on the Venture X under the all other purchases category but the good news here that I think saves this limitation is that Capital One offers a pretty good price matching feature that seems to have good reviews from other people's experiences that I've read online now my fiance and I have the Venture X as a part of our two-player credit card strategy and we haven't really tried out the price match feature just yet but basically the way it works is that if you want to book something in their portal but you found a better price somewhere else then if you book through the capital 1 portal and then call them within 24 hours of booking they're going to get give you a travel credit within the portal to cover the difference and I really like this here because a lot of other credit card issuers do not have a price match feature so the prices are sort of Hit or Miss within their travel portals as to whether or not they're competitive so at least when you're booking travel with the portal with the Venture X do some research out there then you should be able to get the best price no matter what while still earning those 10x and 5x multipliers the Capital One travel portal is also my favorite compared to the AMX and Chase portal the big reason for that is because Capital One travel is powered by Hopper which gives it some nice vision ual for When to book to save the most money and I don't know how accurate those visuals actually are but they do also allow you to set alerts where you can just watch the prices for certain trips and get notified when prices drop so again the fact that Capital One is pushing the use of the travel portal can sort of be looked at as a small negative to some people but in my opinion Capital One did put a lot of effort into this portal and it's actually pretty useful especially with that price matching feature now price matching on travel should help to save you some money so if you like deals like that then I wanted to quickly mention Mumu here which has been a really good investing app that I use so what Mumu did is they recently upgraded their cash sweep program to offer an impressive 5.1% annualized return for new users and that stands as one of the highest yields in the entire brokerage industry so there is a lot of value there plus you also have FDIC insurance for up to $1 million of your deposited funds Mumu is going to give you the flexibility to deposit any amount that fits your budget where you can start to acrw interest daily and withdraw your money at your convenience and on top of earning interest and investing with Mumu new users can receive up to 15 free stocks after opening up an account and depositing funds by using my link down below so go ahead and check that out if you want to now next here I want to talk about the other features of the Venture X that can provide a lot of real value to people especially for somebody that travels so first with the Venture X you're going to get a $100 credit for Global Entry or TSA pre-check and honestly this is a pretty standard type of credit that most premium travel credit cards have nowadays but if you don't already have Global Entry or TSA pre-check then the Venture X might be the best credit card to get this benefit because again that travel credit and anniversary bonus already offset the annual fee so you're basically getting this benefit and all the other benefits next TI for free the next thing you get is going to be airport lounge access and with Venture X there's basically three types of lounges that you can get into with this card where you get access along with up to two free guests per visit so those are going to be the Capital One lounges Plaza premium lounges and then priority pass lounges now there's only three Capital One lounges in the world right now which is going to be another limitation to consider because AMX currently has 24 lounges worldwide with 13 in the US and Counting and then Chase has three lounges open right now with another six coming soon but Capital One is limited with lounges currently open at Washington Dulles Dallas Fort Worth and Denver plus another Lounge on the way in Las Vegas now I had the chance to visit the lounge at DFW which is really nice with lots of space and food and drink options so I really like what Capital One has done so far but I do want to see more locations in the future so if you're flying out of any one of those airports with a capital 1 Lounge then the Venture X is going to be a great card if you value that airport lounge access for Plaza premium and priority pass lounges that you also get access to with Venture X they could be sort of just okay depending on what airport you're at so you're going to have to search the lounge Network on Capital 1's website to see what's out there but another limitation here is that with the priority pass membership you get on the Venture X this does not include priority Pass Restaurant access so if you're unfamiliar certain other travel credit cards with priority pass like the Chase Sapphire Reserve are going to give you credits to help pay for food at certain restaurants in certain airports and the Vetra X used to offer this with their version of priority pass but that was removed at the beginning of 2023 now if you're somebody that rents cars as you're traveling a couple of really nice rental car benefits that come with Venture X are going to include Herz president Circle status and honestly that's a pretty underrated benefit that I've used a few times this past year so this status helps to get me things like upgrades better pricing and I can pretty much just walk up to my rental car at the airport without waiting in a long line and then this card also has aut rental coverage that is primary and not secondary which is important so basically if I rent a car with The Venture X I just have to decline the rental company's collision damage waiver and then I'm going to have coverage through the Venture X card for theft and damage but like any type of insurance coverage just make sure you do your own research and read the terms and conditions on your own to make sure that you're eligible because this video is just for informational purposes and this is not Insurance advice on top of all that the Venture X also has no foreign transaction fees a cell phone protection benefit for theft or damage if you pay your phone bill with Venture X and then there's also a couple of cool premium Hotel programs that you get access to call the premere collection and the lifestyle collection that you can book through Capital One so those programs are going to give you things like up to a $100 credit to use on site free breakfast for up to two people free room upgrades early check-in and late checkout and some other good stuff like that depending on the property plus there's a ton of good travel protections that includes things like trip cancellation and Interruption coverage trip delay reimbursement and travel accident insurance but again just look into those Insurance protections for yourself to learn all the details because you never want to have to use them but they can help to give you a little piece of mind when whenever you're traveling in case you ever do need them now another really interesting feature is that you can add up to four free authorized users as additional card holders and this is a great feature for two reasons so first other premium travel credit cards like the Chase Sapphire reserve and the AMX Platinum Card charge you for each authorized user card with the reserve charging $75 per card and the Platinum charging $15 but then with the Venture X like I said authorized user cards are free and second the authorized user cards for the Venture X actually get a lot of the same benefits that you get as a primary card holder that's going to include things like airport lounge access to the same Capital One Plaza premium and priority pass lounges with up to two free guests so let's say you live in Dallas and you fly with your family a lot out of DFW you can technically bring two free guests plus you can add up to four free authorized users who can also bring two free guests So in theory you can get access to the Capital One Lounge at DFW for up to 15 people including yourself from just your one Venture X account now that's an extreme example but in a simpler two-player strategy like me and my fiance have she got the Venture X and then added me as an authorized user for free which is how I was able to visit the Capital One Lounge the other month and then as an authorized user I could also get free Herz presentent Circle status which I already have plus I get the same protections like primary auto rental coverage the cell phone protection benefit and the same other travel protections that the Venture X has with the primary card holders now okay I have one more positive feature that I want to talk about with Venture X and then one more negative limitation as well so let's talk about that limitation first here which is the fact that it's actually kind of difficult to get approved for the Venture X because like some of you know I was denied twice for this card over the past year and I talk about credit cards for a living now normally the thing that gets people denied is having too low of a credit score too short of a credit history negative marks on the credit report or other stuff like that but when it comes to Capital One the things that hurt me were not any of those things instead it was the fact that I have too many revolving accounts with even more specifically too many recent revolving accounts basically from what I've experienced and from what I've heard other people say online Capital One is just very very picky when when it comes to who they actually approve for their cards and they probably don't just want to give away free money to somebody like me when they can clearly see that I'm opening up new credit cards every year and I'm probably not going to be a profitable customer to them I even tried waiting 8 months after my first denial I didn't apply for any new credit cards during that time and then I still got denied again when I reapplied and normally if I call any other issuer I can talk to the reconsideration line and get some answers or explain why they should reverse their decision and approve me but with Capital One they basically don't do the normal reconsideration thing so pretty much got no help at all from my phone call and I was just kind of left being sad with my two denials but luckily my fiance only had like five credit cards so as soon as I got denied the second time she applied and got approved instantly because I'm sure Capital One saw her as more of their Target customer so my workaround here was just she added me as an authorized user for free and I still get the same exact benefits like I said and then we still get to use the Venture X as a part of our two-player strategy so what I would say is that if you're considering the Venture X then I would get it earlier on in your credit card Journey rather than try to get it later on like I did but to be fair this card did launch in late 2021 and it was never originally a part of my strategy until it got announced so yeah I just want to mention that here in this video that based on my experience it definitely is not that easy to get approved for this card later on in the credit card game but your mileage may vary now my fiance and I wanted to add this card to our strategy for a few reasons so first of all the 3.95 annual fee is easily offset by the $300 travel Credit in the 10,000 Mi anniversary bonus every year which is great second of all we got that 75,000 Mi sign bonus which we can use to book some travel in the future third we use this as a great catch all card to earn 2x m per dollar on everything fourth we get to take advantage of all those other features like I said like airport lounge access and the fifth reason we wanted to get the Venture X Card which is the last major feature with this card and that would be the great ways you can redeem Capital 1 miles so like I said throughout this video here whenever I'm comparing how I earn any kind of points or miles I like to value those points miles at 1 cent each but when it comes time to then redeem those points of miles I try to get it at least 2 to three cents each or more if possible by transferring them and Capital One gives me plenty of good options to do that with their 18 Transfer Partner programs so instead of booking travel through the capital 1 portal at 1 cent per mile where 75,000 mi from the welcome bonus is worth $750 what I've done is I've learned how to transfer miles to get around 2 to three cents per mile on average so that makes the same 75k bonus worth between at least $1500 and $2,250 in value for travel on top of that if I ever wanted to then I could combine the Venture x with another card from Capital One called the sa one to create a Capital One Duo setup so that sa one card is awesome and earns 3% cashback on dining groceries streaming and entertainment but by combining it with the Venture X in that duo setup I can basically turn that cash back into more valuable miles that again I can transfer so 3% back in those categories becomes 3x mil per dollar with the sa one instead now overall I think the Venture X is a great card and deserves to be called one of the best credit cards on the market because for a lot of people out there it's very difficult to actually lose money by holding this card unless of course you start carrying balance and getting charged interest which we never want to do anyway but when you combine it with the sa one card in that Capital One Duo setup those two cards become even more powerful with what I think is the best two credit card setup out there right now so if you want to learn more about the capital 1 Duo including an example of how I booked a $900 domestic first class flight for only 22,000 Capital 1 miles then go ahead and check out this video over here next but as always thank you so much for watching and I'll see you in the next one

Channel: Daniel Braun

Views: 97,009

Keywords: capital one venture x, venture x, venture x card, venture x credit card, credit card, credit cards, capital one venture x review, capital one venture x review 2024, venture x review, venture x review 2024, capital one, capital one credit cards, capital one duo, best travel credit card, best credit cards for travel, venture x benefits, venture x worth it, venture x 2024, capital one venture x 2024, daniel braun, daniel braun venture x, best credit cards

Id: NJAgD8-EO9A

Length: 15min 28sec (928 seconds)

Published: Thu Dec 21 2023