Credit Cards

Capital One Venture X vs The Platinum Card® from American Express which is best for you?

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Capital One Venture X Rewards Credit Card

vs

The Platinum Card® from American Express

I recently named the Capital One Venture X Rewards Credit Card the best premium card for most people. To be clear, I’m specifically talking about deluxe, ultra, up-scale, high-end premium cards that come with high annual fees and a bevy of benefits. One of the questions I get asked the most…how does it compare to The Platinum Card® from American Express?

I did a break down on the Capital One Venture X Rewards Credit Card vs The Chase Sapphire Reserve® and gave the Venture X a clear victory. Now, it’s time to do a head to head with the Amex Platinum.

If you want a long story short… I still think the Capital One Venture X is the best premium card for most people, but if you want the prestige an Amex Platinum carries, you qualify for the current incredible offers, and could make use of the litany of credits… it makes sense as well.

Capital One Venture X Rewards Credit Card

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The Platinum Card® from American Express

a silver credit card with a picture of a man

a building with a tower in the background

Current Welcome Offers and Annual Fee

Both cards have a high annual fee, but the Capital One Venture X is the cheapest ultra premium card on the market. It rings in at $395 a year vs the $695 that American Express Platinum charges. It gets a little trickier when you take into account the welcome offers since both are offering in excess of 100k points, but Amex Platinum has a mega accelerator attached to restaurants worldwide for 6 months.

Personally, I think the Amex Platinum offer is just too good to be true and opens up the door to earn an enormous amount of points if you were to able maximize the deal. How on earth do you compete with that? Even with a $695 fee that is some monster earning potential.

The only downside of getting the Amex Platinum is if you haven’t gotten an Amex Gold or American Express Green Card® since the new application rules not explicitly say that you’re ineligible for welcome offers on those cards if you have or have had an Amex Platinum in the past.

Capital One Venture X Rewards Credit Card

a close-up of a credit card

The Platinum Card® from American Express

a silver credit card with a picture of a man

75k Miles after $4k spend in 3 months Offer 1: 175k after $8k spend in 6 months ( via referral )
$395 annual fee Offer Two: 100k after $8k spend in 6 months  + 10x on restaurants worldwide, capped at $25k, for 6 months ( via Resy)
$695 (Rates and Fees)

Earn Rates

Capital One makes it very straight forward again… get unlimited 2x miles on every dollar you spend. If you want to buy travel within their portal, you’ll get a hefty bonus for doing so, otherwise, you’ll get 2x miles.

The Amex Platinum card gets 1x Membership Rewards per dollar on every single purchase you make. If you purchase a flight directly form the airline or within Amex Travel you’ll get 5x Membership Rewards.

It should be noted that often times purchasing travel originating from portals results in an inability to earn elite nights, credits, miles, etc that help you gain airline or hotel status.

I’d go with Cap1 as the victor here

Capital One Venture X Rewards Credit Card

a close-up of a credit card

The Platinum Card® from American Express

a silver credit card with a picture of a man

2x miles on every single purchase without limit 1x Membership Rewards on everything
Purchases in the Capital One Travel Portal

  • 10x miles on hotels and car rentals
  • 5x miles flights and vacation rentals booked through Capital One Travel
  • 5x Membership Rewards on airfare booked directly with the airline or Amex Travel

Annual Credits 

This is a category in which things get far trickier and personal in terms of distinguishing a winner.

The Capital One Venture X Rewards Credit Card Is a straight forward card that is clear and simple. Each year you get up to a $300 travel credit in the Capital One travel portal and every year you keep the card you get 10k miles, worth minimum $100, on your anniversary. That means, if you spend more than $400 a year on travel, you’ll get the Capital One Venture X Rewards Credit Card free of charge.

The The Platinum Card® from American Express comes with a bevy of statement credits that someone like me is willing to take advantage of, but I question as to whether most people will be able to extract face value for most of credits to offset the $695 annual fee.(Rates and Fees) Another thing to consider with the Amex Platinum is that most of the credits require you to enroll, a split month to month or semi-annual, and add complexity to their redemption.

Amex isn’t as straight forward, but if you’re like me, could end up giving you more back than you’d spend on the fee…if you max the credits. For most people, I think Cap1 is much easier to see a path towards cash positive

Capital One Venture X Rewards Credit Card

a close-up of a credit card

The Platinum Card® from American Express

a silver credit card with a picture of a man

  • $300 Annual Credit within the Capital One Travel Portal
  • Up to $200 Hotel credit
    • up to $200 back in statement credits each year on prepaid Fine Hotels + Resorts® or The Hotel Collection bookings through American Express Travel using your Platinum Card®.
    • Fine Hotels + Resorts® can be a one night stay
    • The Hotel Collection requires a minimum two-night stay.
  • 10k bonus miles after each anniversary
    • Worth $100 within Capital One Travel or can be transferred out to partners
  • $200 Uber Cash:
    • Platinum Card® Members can get out and about and explore their local area with $15 in Uber Cash for US rides each month, plus a bonus $20 in December.
    • That can be up to $200 in annual Uber savings. Simply download the Uber app and add your Platinum Card® to your Uber account to get started. Available to Basic Card Member only.
    • Effective 11/8/2024, an Amex Card must be selected as the payment method for your Uber or Uber Eats transaction to redeem the Amex Uber Cash benefit.
  • Receive up to a $120 credit for Global Entry or TSA PreCheck®
  • Up to $200 airline incidental credit (enrollment required )
  • get up to $199 back per calendar year on your CLEAR® Plus Membership (subject to auto-renewal)
  • Up to $300 Equinox credit (enrollment required )
  • Up to $100 Saks 5th Avenue Credit
    • Semi Annual – Up to $50 Jan to June
    • up to $50 July to December
  • Up to $120 Global Entry or $85 TSA PreCheck® credit (enrollment required )
    • Receive either a $120 statement credit every 4 years for a Global Entry application fee or
    • a statement credit up to $85 every 4.5 years for a TSA PreCheck® (through a TSA official enrollment provider) application fee, when charged to your Platinum Card®. Card Members approved for Global Entry will also receive access to TSA PreCheck at no additional cost.
  • Up to $12.95 + tax / month Walmart+ membership
    • Walmart+ members receive unlimited free shipping with no order minimum on items shipped by Walmart.com, free delivery from stores, as well as mobile and contactless check-out to make shopping faster.
    • You get Paramount+ included with Walmart+
  • UP to $25 Soul Cycle monthly credit
    • Platinum Card Members will receive a $300 statement credit every time they purchase a SoulCycle At-Home Bike, up to 15x per calendar year.
    • An Equinox+ membership is required to purchase a SoulCycle at-home bike and access SoulCycle content.
    • Must charge full price of bike in one transaction. Shipping available in the contiguous U.S. only.
    • This stacks on top of the $25/month Equinox+ statement credit.

Using Points via Transfer Partners + Portal

Travel Portal

Capital One offers two ways to using your points on travel

  • Travel statement credit
    • Any charge you have on your card, in the past 90 days, categorized as travel can be wiped off your bill at a penny a point
  • Capital One Travel Portal
    • Redeem your points at a penny a point here as well – the rates may be more advantageous than using the statement credit feature

American Express allows redemptions via Amex Travel

  • Ordinarily using American Express Membership Rewards on travel will result in under a penny a point ( sometimes you’ll get the full cent, but most often you will not).

Transfer Partners

This is really where I’d recommend using your points.

Either program opens to door to an incredible list of transfer partners. If you’re keen on finding out what the best uses of either programs points are – I’d recommend reading out best of guides linked above.

The biggest difference comes from Amex having Marriott, Hilton, and Delta as partners. For the average person this may open up an easier route for redemption; however, these programs offer some of the worse valuations for points. The ideal redemption is to save up and throw them at an international trip in business or first class. Either program provides a great list of partners to find award space on across multiple programs.

 

Capital One Venture X Rewards Credit Card

a close-up of a credit card

The Platinum Card® from American Express

a silver credit card with a picture of a man

Aeromexico Club Premier AeroMexico
Air Canada Aeroplan Aer Lingus AerClub
Avianca LifeMiles Air Canada Aeroplan
Air France Flying Blue Air France KLM Flying Blue
British Airways Executive Club Alitalia MileMiglia
Cathay Pacific Asia Miles ANA
Choice Privileges Avianca LifeMiles
Etihad Guest British Airways Executive Club
Emirates Cathay Pacific Asia Miles
Finnair Plus Delta SkyMiles
Qantas Frequent Flyer Emirates Skywards
Singapore Airlines Etihad Guest
TAP Air Portugal Miles&Go Hawaiian Airlines
Turkish Airlines Miles and Smiles Iberia Plus
Virgin Red JetBlue TrueBlue
Wyndham Rewards Qantas Frequent Flyer
Accor transfer 2:1

 

Qatar Airways
EVA transfers 2:1.5 Singapore Airlines KrisFlyer
Virgin Atlantic Flying Club
Choice Privilege
Marriott Bonvoy
Hilton Honors
a man wearing a mask and sitting in an airplane
Lufthansa First Class

Lounge Access

Both the Capital One Venture X Rewards Credit Card and American Express Platinum card come with access to their own branded lounges and Priority Pass Select memberships. There are some big differences so let’s dig in.

Capital One has 3 lounges currently open ( Dallas, Washington DC, and Denver ). The Capital One Venture X Rewards Credit Card has access for 2 guests, and if you add authorized users, they’ll gain access as well. The Venture X also comes with a Priority Pass membership alongside Plaza Premium lounge access. Unfortunately, the Capital One Venture X lost the restaurant benefit on 1/1/2023.

American Express set the bar when they created Centurion Lounges. The program has built out to over 40 lounges, but they were too good to be true, quickly became crowded, and the food/drink quality was downgraded. It started in Feb of 2023, but Amex now only permits the cardholder to enter the lounge, and any guest will be charged $50 – one caveat is if you spend $75k a year, you’ll be able to bring in 2 guests free of charge.

Amex comes with a Priority Pass membership as well that includes 2 guest access. They stripped the restaurant access a couple years ago so effectively on par with the Capital One Venture X Rewards Credit Card in terms of access. One thing to also consider, and I recently used was the Delta Lounge access Amex Plat cardholders get when they’re flying Delta. If you’re based in a Delta hub this could be quit valuable to you.

Capital One Venture X Rewards Credit Card

a close-up of a credit card

The Platinum Card® from American Express

a silver credit card with a picture of a man

Lounge access

Capital One Lounge Access

  • 3 locations and more to come
  • 2 guests allowed and $45 for every guest after that
  • Authorized Users get access as well
    • Add 4 Authorized Users free of charge
Centurion lounge access
  • 40+ locations worldwide
  • Cardholder only access
    • After 2/1/23 unless you hit $75k in 12 months spend
    • U.S. Platinum Card® and U.S. Business Platinum Card® Members will be charged a $50 USD fee for each guest (or $30 for children aged 2 through 17, with proof of age).
    • U.S. Platinum Card® and U.S. Business Platinum Card® Members will qualify for Complimentary Guest Access for up to two guests per visit after spending $75,000 in eligible purchases on their Card between January 1, 2022 and December 31, 2022 and in each calendar year thereafter.

Priority Pass Select access

  • Unlimited complimentary access for you and two guests to 1,400+ lounges
  • 4 Authorized users can enjoy this and bring 2 guests in as well
  • no restaurant access

Plaza Premium Lounge Access

  • Unlimited complimentary access for you and two guests
  • 4 Authorized users can enjoy this and bring 2 guests in as well

Priority Pass select membership (enrollment required )

  • No restaurant access

Delta SkyClub access

  • access when traveling on a Delta ticketed flight
a stuffed animal in a room
Centurion Lounge

Other Benefits

Both cards come with complimentary cell phone insurance, but where Cap1 stands out is the primary rental car status and insurance. Insurance has been a reason why I have continued to keep a Chase Sapphire Preferred in my wallet, but now…I could downgrade that car and rent via my Cap1Vx.

Amex falls short on Hertz status and rental car coverage, but does offer both Marriott and Hilton Gold status. If you’re looking to redeem Hilton points this could be advantageous since it Hilton elite members get a 5th night free with points. Otherwise, Marriott and Gold status doesn’t offer a ton of bang for your buck, you may get occasion club level access, upgrade, or even a breakfast credit, but it isn’t always guaranteed and with the easy pathways to top tier status we’ve seen the past couple of years, you’ll be quickly out ranked.

Looking at the Amex Fine Hotels and Resorts access. Most of these properties can be booked with VIP benefits at no additional charge here – in fact, you may be better off booking via Virtuoso

Capital One Venture X Rewards Credit Card

a close-up of a credit card

The Platinum Card® from American Express

a silver credit card with a picture of a man

Hertz President’s Circle Status ( scheduled to end 12/31/24 ) Hertz President’s Circle Status

Avis Preferred Plus

National Executive Status

Primary Rental Car coverage ( CDW ) Secondary Rental Car Coverage
Complimentary Cell Insurance

  • Up to $800, $50 deductible
Complimentary Cell Insurance
  • Up to $800, $50 deductible
No fee for up to 4 Authorized Users
  • Hilton Gold Status
  • Marriott Gold Status
 Referrals – up to 100k a year
  • referrals do trigger a 1099
$195 per Authorized User
Access to Premier Collection Access to Amex Fine Hotels and Resorts + Hotel Collection
Refer a Friend – up to 100k a year
  • referral does trigger a 1099

Overall

Currently, both cards are offering incredible incentives to sign up. You can’t go wrong with either in your first year. But, after you’re tried out each card, which would you keep long term?

The Amex Platinum has an extremely rich welcome offer and opens a lot of value if you are able to use up the credits the card offers. Plus… nothing screams status, other than a black card, like an Amex Platinum. That status carries a lot of weight for many people.

The Capital One Venture X has a very competitive offer as well, but makes the case that if you spend $400 a year on travel, which I’d guess most anyone reading this blog does, they will give you all the other benefits of the card free of charge since you’d easily recoup the annual fee.

I mean… how do you beat that deal?

I keep both cards in my wallet because I’m able to extract more value from the cards than I pay in annual fees. I think I’m in a very small minority of people who would truly make use of these credits on an ongoing basis and care to take the time to do so.

Which card would you choose?

 

Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.

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Chase Sapphire Preferred® Card


4.8
4.8/5
The Chase Sapphire Preferred® is a great starter card that earns Premium Ultimate Rewards that can be transferred into over a dozen partners many of which are US based including Hyatt, Southwest, United, IHG, and Marriott.

Welcome Offer

Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening

Annual Fee

$95

Points Earned

Transferrable Chase Ultimate Rewards

  • 5x on all travel purchased through Chase Travel℠
  • 3x on dining, including eligible delivery services for takeout & dining out
  • 3x on select streaming services
  • 3x on online grocery purchases
    • (excluding Target, Walmart and wholesale clubs)
  • $50 Annual Chase Travel Hotel Credit via Chase Travel℠
    • The begins immediately for new cardmembers and after your account anniversary for existing cardmembers
  • 2x on all other travel
  • 10% Anniversary Bonus
    • Every year you keep the card, your total spend will yield a 10% points bonus. If you spend $10k in a year, you’ll get 1k bonus points
  • Chase Sapphire Preferred continues to redeem at 1.25c in the Chase Travel℠ and the slew of other benefits remain in tact including Auto Rental Collision Damage Waiver ( primary ), purchase protections, etc.
  • Points are transferrable to 14 Ultimate Rewards partners
  • Redeem in Chase Travel℠ for 1.25 cents per point
  • No foreign transaction fees
  • Suite of Travel and Purchase Coverage
    • Auto Rental Collision Damage Waiver is my favorite
  • Get complimentary access to DashPass which unlocks $0 delivery fees and lower service fees for a minimum of one year when you activate by December 31, 2027.
  • $95 Annual Fee

We keep an up to date spreadsheet that lists the best ever offers: You can find that spreadsheet here.

Historically 80k is a very, very good offer and hit in both 2022 and 2023. In 2021, we saw the offer hit an all time high of 100k. Who knows if that will ever come back.

Main Cast: 

Cards that earn flexible points and should be used on the bulk of your purchases.

Supporting Cast:

Cards that earn fixed points in the currency of the airline/hotel and can not be transferred at attractive rates. These cards yield benefits that make it worth keeping, but not necessarily worth putting a lot of your everyday spend on. 

The Chase Sapphire Preferred® is exceptional starter card and offers transferrable Ultimate Rewards, and pairs well with other Chase cards.

If you carry this card alongside Chase’s cashback cards like the Chase Freedom Flex®  and Chase Freedom Unlimited® or the business versions: Ink Business Cash® , Ink Business Unlimited® you can combine the points into Preferred account and transfer into hotel and airline partners

Annual fee is quite low at $95 a year + you get a 10% anniversary bonus on points + $50 hotel credit in Chase travel.

The responses below are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved, or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.

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