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In the world of top-tier premium travel cards, The Platinum Card® from American Express* and the Capital One Venture X Rewards Credit Card stand out among the rest. Both cards offer an impressive portfolio of benefits, including lounge access, the ability to book super-luxe hotels within an exclusive collection and statement credits for members to use at home or throughout their trip.
Crucially, each of them also lets its members earn points and miles on various spending categories that can later be transferred to any number of airline and hotel partners for free flights and accommodations. Rewards can also be redeemed for gift cards, merchandise or a litany of other travel options booked via Amex Membership Rewards or Capital One Travel.
The most important thing to consider is what you hope to get out of your premium travel credit card experience, which brands you prefer to fly and stay with above others, the different ways each card lets you earn rewards and which included benefits you have the highest chance of maximizing.
Here’s everything you need to know if you’re considering signing up for The Platinum Card from American Express or the Capital One Venture X, plus how they stack up against each other.
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Welcome bonus
If you’re just starting your points and miles journey, a generous welcome bonus can be a terrific way to boost your current rewards balance. Just make sure you can hit the minimum spending requirement responsibly, as no amount of bonus points is worth going into debt for.
Amex Platinum: New applicants can earn 80,000 bonus points after they spend $8,000 within the first six months of opening their account. That translates to $1,600 in travel when your points are redeemed for flights, hotels, rental cars or cruises through AmexTravel.com.
Capital One Venture X: New cardholders can pick up 75,000 bonus miles after they spend $4,000 within the first three months of opening their account. Those miles are worth about $750 in travel when redeemed through Capital One Travel.
Verdict: Both welcome bonuses are terrific options, so it really comes down to which card you prefer to sign up for over the other and which minimum spending requirement you feel more comfortable working toward financially.
Annual fee
Don’t let a high annual fee get in the way of a beautiful card membership — it’ll end up paying for itself or providing a greater value if you strategically use all the benefits and memberships, which are all included to help offset it.
Amex Platinum: $695 (see rates and fees)
Capital One Venture X: $395 (see rates and fees)
Verdict: While the Capital One Venture X card’s annual fee is a full $300 less than the Amex Platinum Card’s, it’s up to your comfort level and which card you think you’ll get the best value from based on your travel needs.
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Earning rewards
These two travel credit cards are very similar when it comes to how they let you earn points and miles, which can later be redeemed for free flights, hotel stays, rental cars and other parts of your trip, like tours or cruises.
With the Amex Platinum card, you’ll acquire the highest amount of points by paying for hotel and flight reservations through Amex Membership Rewards (or for flights, directly with the airline). With the Capital One Venture X, it’s the same idea — miles can be accumulated quickly by shopping for travel elements through Capital One Travel, the card provider’s travel portal.
Amex Platinum: While you’ll only earn 1X points for purchases made outside Amex Membership Rewards, if you can book your flights directly with the airline or through AmexTravel.com (up to $500,000 per year), you’ll earn 5X points per dollar spent. The same goes for hotel reservations made via AmexTravel.com, including at luxury accommodations within The Hotel Collection, which come with perks like complimentary breakfast, room upgrades and hotel credits up to $100, depending on the property.
Capital One Venture X: In a similar vein, cardmembers will earn the highest amount of miles — 10X miles for rental cars and hotel stays and 5X miles for flights — by booking travel through the card’s exclusive portal, Capital One Travel. For all other purchases, you’ll pick up 2X miles per dollar.
As a special perk, Capital One Venture X cardholders are awarded 10,000 bonus miles each year to celebrate their anniversary, providing a decent boost to their balance just for being a member.
Verdict: The Capital One Venture X has a bit of an edge over the Amex Platinum, offering cardholders the ability to earn more miles per dollar for each of the different spending categories. In some cases, that means double the reward amount, letting you rack up Capital One miles even faster.
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Redeeming rewards
After working so hard to rack up the highest amount of miles and points possible, redeeming them for free flights to Hawaii, using them to cover recent charges or cashing them in for gift cards for your friends and family around the holidays can be a very rewarding experience. Here are the best options for redeeming your earnings with either card.
Amex Platinum: While cardholders always have the option to redeem their Membership Rewards points for flights, hotels, rental cars or cruises through AmexTravel.com at a value of about 1 cent per point, you’ll get the best value for your rewards by transferring them to one of Amex’s 18 airline and three hotel transfer partners, listed below.
The Amex Platinum card provides a decent amount of shopping redemption options as well, letting you cash points in for gift cards, use them to cover eligible charges or redeem them for merchandise when shopping online via MembershipRewards.com, PayPal, Amazon, GrubHub, Seamless, Staples or Best Buy. Just keep in mind that your redemption value will only be 0.6 cents to 1 cent per point, slightly lower than for travel-related redemptions.
Capital One Venture X: As with the Amex Platinum card, you’ll end up with a higher redemption value if you transfer your miles to one of Capital One’s 15 airline and hotel partners, detailed below. Otherwise, cardmembers can use them to book flights, rental cars or hotels through Capital One Travel or put their miles toward “erasing” recent travel purchases.
If you won’t be hitting the road for a while, redeeming miles for cash back (in the form of a statement credit or a check) or for tickets to exclusive Capital One Entertainment and Capital One Dining events might be more appealing options.
Miles can also be redeemed for gift cards, while your rewards balance can help pay for purchases via PayPal, Amazon or any number of online vendors through the Capital One Shopping portal.
Verdict: It really does come down to your overall rewards-earning goals, whether that means you’re saving up enough points and miles for a free trip to Italy or you prefer to use them to cover some much-needed retail therapy or to wipe away recent charges.
That said, the Capital One Venture X card has a leg up on the Amex Platinum card, offering more redemption opportunities beyond the usual options of transferring them to travel partners and cashing them in for flights or hotels through an exclusive travel portal.
If you need more flexibility, the Capital One Venture X card could be a great pick, but if you’re a fan of all things Amex Membership Rewards or any of the card’s specific shopping partners (such as Best Buy, Seamless, GrubHub or Staples), the Amex Platinum makes a better choice.
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Transfer partners
The best way to maximize the value of your rewards is by transferring those Amex Membership Rewards points or Capital One Miles to either program’s airline and hotel partners, which you can usually do at a transfer ratio of 1:1 (with a few exceptions, noted below).
Amex Platinum: Choose from 21 travel transfer partners with Amex Membership Rewards, including 18 airlines and three hotel chains:
Airline partners:
- Aer Lingus AerClub
- AeroMexico Rewards (1:1.6)
- Air Canada Aeroplan
- Air France/KLM Flying Blue
- ANA Mileage Club
- Avianca LifeMiles
- British Airways Executive Club
- Cathay Pacific Asia Miles
- Delta Air Lines SkyMiles
- Emirates Skywards
- Etihad Guest
- Hawaiian Airlines HawaiianMiles
- Iberia Plus
- JetBlue TrueBlue (1:0.8)
- Qantas Frequent Flyer
- Qatar Airways Privilege Club
- Singapore Airlines KrisFlyer
- Virgin Atlantic Flying Club
Hotel partners:
- Choice Privileges
- Hilton Honors (1:2)
- Marriott Bonvoy
American Express Membership Rewards transfer partners
Capital One Venture X: Choose from 18 travel partners with Capital One Rewards, including 15 airlines and three hotel brands:
Airline partners:
- AeroMexico Rewards
- Air Canada Aeroplan
- Cathay Pacific Asia Miles
- Avianca LifeMiles
- British Airways Executive Club
- Emirates Skywards
- Etihad Guest
- EVA Air Infinity MileageLands (2:1.5)
- Finnair Plus
- Air France/KLM Flying Blue
- Qantas Frequent Flyer
- Singapore Airlines KrisFlyer
- TAP Miles&Go
- Turkish Airlines Miles&Smiles
- Virgin Red
Hotel partners:
- Accor Live Limitless (2:1)
- Choice Privileges
- Wyndham Rewards
Verdict: Each program offers a stellar lineup, so your decision depends on which brands you’re most loyal to or want to build status with. Remember that each airline also has alliance partners, which could work in your favor. By transferring points or miles from either program to Avianca LifeMiles, for instance, you could save on trips to New Zealand and Australia by using them to book flights on United Airlines or one of Avianca’s other Star Alliance partners.
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Travel perks and credits
Both the Amex Platinum card and the Capital One Venture X card are top premium travel rewards cards, providing travel-related benefits including access to swanky lounges and exclusive luxury hotel properties as well as statement credits to take care of your enrollment in various security programs at the airport, among other memberships.
Amex Platinum: If you were to strategically take advantage of all the Amex Platinum card’s statement credits and memberships, they’d be worth a value of up to $1,584, which more than covers the card’s hefty $695 annual fee.
First, there’s an up to $189 statement credit meant to cover the cost of your CLEAR Plus membership and a credit of up to $100 to reimburse your enrollment fee for joining Global Entry or TSA PreCheck. Then, you’ll score instant Marriott Bonvoy Gold Elite and Hilton Honors Gold status, opening you up to even more perks whenever you stay at those hotel brands.
Cardmembers also score complimentary entry to more than 1,400 lounges worldwide thanks to The American Express Global Lounge Collection and its network of Priority Pass and Plaza Premium Lounge partners.
Then there’s the up to $200 credit toward Fine Hotels + Resorts and The Hotel Collection stays booked via AmexTravel.com, while another perk, an up to $200 airline fee credit, reimburses cardmembers for incidental charges (like baggage fees) and in-flight purchases on a designated airline.
The Amex Platinum also throws in some sweet benefits to use closer to home if you won’t be traveling for a while, like up to $300 in annual statement credits toward an Equinox gym membership, $100 worth of credit ($50 per six-month period) for purchases made with Saks Fifth Avenue and up to a $155 annual credit ($12.95 plus tax per month) toward a Walmart+ subscription.
Cardholders are also offered exclusive access to dining, cultural, musical and sporting events through Amex Membership Rewards, as well as up to $200 in Uber Cash ($15 per month, with a bonus $20 in December) to use for rides or delivery via Uber Eats.
In addition, cardholders receive up to $240 in a digital entertainment credit ($20 per month) to put toward select streaming services, such as SiriusXM, Hulu, Disney+, Peacock, ESPN+, The New York Times and The Wall Street Journal.
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Capital One Venture X: When it comes to travel-related perks, the Capital One Venture X card is top-notch, with a statement credit of up to $100 to cover your Global Entry or TSA PreCheck enrollment fee and complimentary entry to more than 1,300 airport lounges worldwide, including Captial One Lounges and their Plaza Premium Lounge and Priority Pass partner sites.
Cardholders also receive instant Hertz President’s Circle elite status and primary car insurance for car rentals and access to Capital One’s Lifestyle and Premier hotel collections, which each come with their own set of perks depending on the property.
Of course, the icing on the cake for this travel rewards credit card is the $300 annual travel credit, which can be used to “erase” bookings made through Capital One Travel — it’s great news if you’re a fan of booking flights, hotels and rental cards through that particular travel portal.
If, however, you prefer to transfer your miles to partners or purchase flights and hotels directly with the brand, it’s an odd limitation. Another top premium travel card, the Chase Sapphire Reserve®, lists its own $300 annual travel credit as a main benefit but lets members put it toward any travel-related charge, not just those made via Chase Ultimate Rewards.
Verdict: While it depends on your travel preferences and which partner brands you find more appealing, the Amex Platinum card wins this round simply for the sheer amount of statement credits it offers — a value of $1,584 if you were to make use of every single benefit and membership.
If anything, Capital One Venture X takes a back seat this round for limiting its $300 annual travel credit to purchases made only within Capital One Travel. That said, it does get a thumbs up for providing primary car insurance, whereas the Amex Platinum only includes secondary coverage on car rentals*.
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Additional benefits and protections
While neither card has foreign transaction fees and both of them offer similar travel benefits and purchase protections, the kinds of coverage you’ll end up getting from each card differ when you take a closer look at the details.
Amex Platinum: The Amex Platinum card offers a robust suite of travel coverage and purchase protections to provide peace of mind whenever you travel and shop. For starters, you’ll receive baggage insurance, trip cancellation and interruption insurance, trip delay reimbursement, secondary coverage for standard car rentals, medical transport and evacuation coverage and access to a global emergency assistance hotline in case of travel emergencies*.
As for shopping, the card provides up to 90 days of purchase protection and return protection (so you can still be reimbursed for items you bought up to 90 days ago, even if the merchant won’t take them back), as well as a year’s worth of extended warranty protection. You’ll also receive cell phone protection (up to $800 per claim, limited to two claims per 12-month period, plus a $50 deductible) if you use the card to pay your cell phone bill*.
Capital One Venture X: For starters, cardmembers never have to worry about foreign transaction fees or dealing with blackout dates and their miles won’t expire as long as their account is open and in good standing. You’re also able to add up to four authorized users, who can then enjoy similar lounge access perks.
Additional benefits include cell phone protection up to $800 when you use the Capital One Venture X card to pay your cell phone bill, trip delay reimbursement, primary car rental insurance, purchase and return protections and extended warranty perks (an extra year on warranties as long as they’re under three years old).
Verdict: The Amex Platinum card comes out on top in this round, offering a more impressive collection of travel insurance coverage (except, of course, for car rentals, since you only receive secondary insurance) and emergency travel assistance. Otherwise, they both offer similar cell phone, purchase and extended warranty protections, so it depends on which perks you think you’ll get more use out of in the long run.
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Bottom line
When it comes to choosing a premium travel rewards credit card, there’s a lot to think about, whether you’re just learning about how to use points and miles to save on travel or have been in the game for several years.
Both The Platinum Card® from American Express and the Capital One Venture X offer similar travel-related perks as well as a number of statement credits to help reimburse you for things you’re likely paying for anyway, whether or not you’re traveling.
For a lower annual fee of $395 (see rates and fees), the Capital One Venture comes out on top, while for those with higher budgets, the Amex Platinum offers the highest level of luxury travel perks, helping to offset its steep annual fee of $695 (see rates and fees).
To make sense of it all and make your decision wisely, just think about your personal travel preferences and the airlines and hotel brands you consider yourself to be the most loyal to. Then, go through each credit card’s list of perks and transfer partners to choose the one that best suits your financial needs and rewards-earning goals.
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*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.
Terms apply to American Express benefits and offers. Enrollment may be required for select American Express benefits and offers. Visit americanexpress.com to learn more.
Editorial disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.
