I just paid the Capital One Venture X Rewards card’s third annual fee without hesitation. Each year the card returns more value than it costs, so I’m planning to keep it in my wallet.
The $395 annual fee isn’t negligible, but it’s lower than many other premium travel cards. In my second year I got nearly $800 of value from a trip to Grenada, including coverage for TSA PreCheck and Global Entry. Even after the first-year welcome bonus, the ongoing perks continue to deliver meaningful value.
What I value most in year three
– $300 annual Capital One Travel credit each account year for bookings through Capital One Travel. This credit alone covers most of the fee for many travelers.
– 10,000 anniversary bonus miles every account anniversary (beginning the first year). At TPG’s December 2025 valuation, those miles are worth about $185.
– Complimentary access for the cardholder plus up to two guests to Capital One Lounges, and access to more than 1,800 Priority Pass lounges (note: guest access rules will become stricter in 2026).
– Strong portal earning: 10 miles per dollar on hotels and car rentals booked via Capital One Travel, and 5 miles per dollar on vacation rentals and flights booked there.
– 2 miles per dollar on all other purchases, which is higher than what most of my other cards earn on everyday spend.
Between the $300 travel credit and the 10,000 anniversary miles, the fee is already largely offset. Lounge access and the elevated earning rates push the net value even higher. I routinely pick up tens of thousands of Capital One miles on this card every year in addition to the anniversary bonus.
Why it’s my default card
I carry several travel cards with varying category bonuses, but Venture X’s flat 2x on everything makes it simple and reliable. To avoid confusion when family members pay, I set the Venture X as the default card in Google Pay. My husband is an authorized user who redeems miles but doesn’t track category bonuses. Making Venture X his default ensures he always earns 2x, which simplifies bookkeeping and maximizes returns on incidental spending.
How I’m using the card in year three
I’m planning a Kentucky Bourbon Trail trip in 2026. I’ll apply the $300 travel credit to hotel costs in Lexington. Because I’ll be staying multiple nights, any amount over $300 will be booked through Capital One Travel to earn 10 miles per dollar. I’ll fly into Cincinnati/Northern Kentucky International Airport (CVG) from London on British Airways, and I’ll use the 10,000 anniversary miles plus the tens of thousands I’ve accumulated to transfer to British Airways Avios at a 1:1 ratio for the award flights. I’ll also book the rental car through Capital One Travel to earn 10x and to have the card’s auto rental collision damage waiver available.
Bottom line
Venture X remains my go-to card because the combination of credits, anniversary miles, lounge access and strong earning rates outweighs the $395 fee for me. New applicants can currently earn a best-ever welcome bonus of 100,000 miles after spending $10,000 within the first six months, which makes it an appealing time to apply.
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