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Capital One Venture X vs American Express Platinum
I recently named the Capital One Venture X 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.
- This excludes cards like the Chase Sapphire Preferred, Citi Thank You Premier, and American Express Gold card which I would consider entry level or mid-tier premium cards – all of which are excellent choices at their given price points.
I did a break down on the Capital One Venture X 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 American Express Platinum Card.
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 | American Express Platinum |
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.
Capital One Venture X | American Express Platinum |
75k Miles after $4k spend in 3 months | 100k to 150k after $6k spend in 6 months |
$395 annual fee | 10x to 10x on restaurants worldwide, capped at $25k, for 6 months |
$695 (Rates and Fees) |
Earn Rates
Capital One makes it very straight forward again… get unlimited 2x 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.
The American Express Platinum card gets 1x 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.
It should be noted that often times purchasing travel originating from portals don’t permit the ability to earn elite nights, credits, miles, etc that help you gain airline or hotel status.
I’d go with Cap1 as the victor here
American Express Platinum | |
2x on every single purchase without limit | 1x on everything |
Purchases in the Capital One Travel Portal
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5x 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 Is a straight forward card that is clear and simple. Each year you get 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 free of charge.
The American Express Platinum 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 | American Express Platinum |
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Using Points via Transfer Partners + Portal
Capital One offers two ways to using your points on travel
- Travel Eraser
- Any charge you have on your card that categorizes 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 eraser feature
American Express allows redemptions via Amex Travel
- Rates range from under a penny a point, to sometimes more if you’re redeeming on your airline of choice
Both programs offer transferrable points
This is really where I’d recommend using your points.
- Capital One Venture X rings in 18 transfer partners of which 16 are 1:1
- Amex rings in 21 transfer partners of which 20 are 1:1 and only JetBlue is 5:4.
- Read the Best Uses of Capital One Miles here
- Read the Best Uses of American Express Membership Rewards here
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.
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
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Singapore Airlines KrisFlyer |
EVA transfers 2:1.5 | Virgin Atlantic Flying Club |
Choice Privilege |
Marriott Bonvoy | |
Hilton Honors |
Lounge Access
Both the Capital One Venture X 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 just dropped their very first lounge in Dallas and plan on expanding two more lounges in Denver and D.C. ( IAD ) next year. Everyone has raved at how nice it is and even has food to go. The Capital One Venture X 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. Starting in Feb of 2023, Amex will only permit the cardholder to enter the lounge and any guest with be charged $50 – one caveat is if you spend $75k a year, you’ll be able to bring in 2 guests.
Amex comes with a Priority Pass membership as well that includes 2 guest access. They stripped the restaurant access a couple years ago. 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.
American Express Platinum | |
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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
Hertz President’s Circle Status | Hertz President’s Circle Status
Avis Preferred Plus National Executive Status |
Primary Rental Car coverage ( CDW ) | Secondary Rental Car Coverage |
Complimentary Cell Insurance
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Complimentary Cell Insurance
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No fee for up to 4 Authorized Users |
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Referrals – up to 100k a year | $175 for up to 3 Authorized Users |
Access to Amex Fine Hotels and Resorts + Hotel Collection | |
Refer a Friend – up to 55k a year |
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.
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?
Hi,
If you are interested in getting the Venture X, please consider using my referral link. I would greatly appreciate it! Capital One is currently offering 75,000 miles for spending $4000 in the first 3 months.
Here’s my Venture X referral link: https://capital.one/3WSFmTK
This is a great card! Currently saving to take my family to Japan in 2024 thanks for using my link!
Here’s my Venture X referral link: https://capital.one/3IhBDdZ
Capital One Venture X: Earn 75K miles after spending $4000 in the first 3 months.
https://capital.one/3tNYUvH
Good Luck! Thank You!
I have a Capital One Venture X credit card and the perks are great.
If you decide to apply for a card, use this link https://capital.one/3TaRJsu; if you’re approved, I’ll get a referral bonus.
Capital One Venture X: Earn 75k miles after spending $4000 in the first 3 months.
https://capital.one/3u4vMRH
Good Luck! Thank You!
This card has such great benefits and they make it to simple to use. Credit to Zach for highlighting all of the potential benefits for someone like me to take advantage of. Thank you so much and happy spending all!
Here’s my Venture X referral link: https://capital.one/3QSxjmY
What are your experiences using the CAP1 travel portal? I’ve read horror story after horror story about poor availability (many flights not even showing up) and poor customer service when something goes wrong. Would like to hear good experiences too!
Hey Bill – I’ve used it twice, once on my account to book a hotel in NYC and it worked fine, price was competitive, and then another time via my wife’s account for a hotel in Europe and it worked fine. I will say this… it’s getting better with more availability, but it definitely doesn’t list all of the options you’d find on a consolidator, or Amex Travel, and I’d guess that soon Chase Travel will be hard to beat if you’re looking specifically for portal redemptions/bookings ( since they acquired a Frosch and CX loyalty ).
I’ve booked about two dozen flights through the C1 portal without a glitch. One flight was canceled by the airline and refunded to my card. During that canceled flight, I worked directly with the airline to try to re-book, but the schedule just was not conducive, so the agent canceled and refunded the flight for me.
I only booked two hotels through the C1 portal, and not much to say about that.
I have large spend at home depot. 3% cash back via capital one portal and 2x per $1 is a great return.
Here’s my Venture X referral link: https://capital.one/31x1USw
Capital One Venture X:
https://capital.one/3u4vMRH
Good Luck! Thank You!
I got this card in January and LOVE it! The lounge in Dallas is awesome and the benefits, particularly during the first year, FAR outweigh the annual fee. I can eat $395 worth of food just using the Priority Pass restaurants. Haha. And if anyone is looking and doesn’t have a referral, I’d super appreciate some of you using mine. Trying to get enough miles to take Mom King Salmon fishing in Alaska once more before she gets too old. 🎣
https://capital.one/35qFvrL
You refer to the Amex Platinum welcome offer with the 10x bonus on “shop small” purchases – but didn’t that offer end in January? Is the 10x shop small offer still available for new applicants?
You’re right, and I’ve updated. It’s 10x on dining up to $25k in 6 months currently. Thank you!
One thing that’s rarely considered in comparisons between Amex and/or Chase/Capital One/Citi is that all the Amex competitors let you transfer your miles as if you own them. Amex on the other hand will only allow you to liberate and transfer your miles to airline partners if you pay them a ransom. You might get 100K Amex miles for your $695 fee and spend, but you can’t transfer them to an airline partner without paying amex another $50 or so in bullsh$t fees – an amount which seems small when you pay it but is material in the total transaction (and obnoxious).
It really is pathetic AMEX charges for that.
Thank you so much for the info! I’m excited to start my premium card journey with the Capitol One Venture X
Please use my referral link if you sign up for the card. Thanks!
https://capital.one/3e9DCkk
Love your posts
Carrying both Cap1X & Amex Plat. Have had Cap1 Venture miles for years.
Cap1 customer service by far better-especially phone to solve issue quickly. Points transfer to another Cap 1 mile card a big +.
Amex Plat as of now offers 5-10% discount on preferred airline + 5x points—-big savings.