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The Capital One Venture X has been my pick for the best super premium credit card since it first debuted a little over a year ago. It has a litany of benefits, but most impressively it’s simple to see how the $395 annual fee is offset: it comes with $300 annual travel credit + 10k anniversary miles = $400 in total credits. Taking all of the other benefits out of the equation, they’re effectively paying you $5 a year to keep the card. But…one of those other benefit is the complimentary Priority Pass lounge access that includes 2 guests, and unfortunately we’ve learned that it is being devalued.
How?
Well, for those of us who have had the card since its inception we’ve been able to use that Priority Pass membership to access the restaurant + spa partners in the Priority Pass network. The restaurant benefit gives cardholders + 2 guests, $28 a piece to eat. That aspect of the Priority Pass membership is unfortunately going away on 1/1/23. You can read more about it here. The membership itself will stay in tact, and this matches what the Amex Platinum/Business Platinum has in terms of Priority Pass access.
Additionally, you won’t be able to visit the spa or retail experiences either…
What lounges do I still have access to?
The good news is you still have Priority Pass access It just doesn’t include the restaurant benefit. I’d guess many of you never even used that benefit since most airports don’t have a participating restaurant and this won’t really affect how you value the card.
You’ll also continue to have access to the Plaza Premium network and Capital One lounges
Does this change how I value the card
It’s a minimal hit to the overall value to the card, and continuing to keep in my wallet and my wife’s wallet is a no brainer. If losing the non lounge benefits is a massive value to you, you could look at the Chase Sapphire Reserve, or if you have a personal Marriott card from Chase for over 12 months, you could upgrade to the Ritz card which has a Priority Pass with restaurant/spa benefits.
Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.
Chase Sapphire Preferred® Card
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.
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