Capital One Venture X vs. Amex Platinum: Which Premium Travel Card Unlocks Better Value?

• Written by Jasmin Baron
  

  Jasmin Baron

  Credit Cards, Travel Rewards, Loyalty Programs, Family Travel, Credit Building, Credit Scores

  Jasmin Baron is CardCritics’ senior editor, responsible for editing and writing credit cards, travel rewards, loyalty program, and other credit-related content. She is passionate about personal finance education and enjoys sharing tips and tricks for making the most credit card points and miles with her readers. Her expertise in maximizing credit card travel rewards originated from over two decades of aviation industry experience, including 18 years working as a pilot and college professor/flight instructor in her native Canada. Her work has appeared on sites such as CNN Underscored Money, Business Insider, The Points Guy, and point.me. When she’s not planning her next trip with credit card rewards, you’ll probably find her tinkering around in the kitchen, hanging out with her three kids, or playing with her dog, Benji.

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• Edited by Emily Gadd
  

  Emily Gadd

  Credit Cards, Personal Finance, Health and Wellness

  Emily Gadd is a certified credit counselor, editor and personal finance expert responsible for writing about personal finance and credit cards. She got her start writing and editing at Healthline. She is passionate about creating educational content that makes complex topics accessible. Emily holds a credit counselor certification, accredited by the National Association of Certified Credit Counselors (NACCC). She lives in Seattle with her husband and two cats.

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• Last Updated Nov 24, 2025

If you’re on the hunt for a top-tier travel credit card, you’ve probably encountered the Capital One Venture X Rewards Credit Card and American Express Platinum Card®, an advertising partner. Both of these premium rewards cards offer upscale perks, including airport lounge access, travel credits and excellent travel insurance.

Either of these options could be a good fit if you’re a frequent traveler who likes to maximize rewards and squeeze the most value from credit card benefits. In fact, for many avid travelers — myself included — it makes sense to keep both cards, despite their hefty annual fees.

Weighing the Capital One Venture X vs. Amex Platinum? Here’s what to know to help you decide on the right card for your spending and travel habits.

How the Cards Compare: Capital One Venture X vs. Amex Platinum

Side By Side Comparison

Welcome Offers 

Most credit cards with high annual fees come with substantial welcome offers, and these cards are no exception. You could stand to receive thousands of dollars in value from each card’s welcome offer if you redeem your rewards strategically. 

Capital One Venture X Welcome Offer 

The Capital One Venture X recently rolled out a massive offer: For a limited time, earn 100,000 bonus miles once you spend $10,000 on purchases in the first 6 months from account opening, equal to $1,000 in travel.

When you redeem those miles through Capital One Travel or to “erase” eligible travel purchases from your statement, they’re worth 1 cent each, but you could get a much higher return if you know how to leverage Capital One’s airline and hotel transfer partners. Here’s how to maximize the Capital One Venture X bonus to get outsized value — potentially in the thousands of dollars.

Amex Platinum Welcome Offer 

The Amex Platinum welcome offer works a little differently. You may be eligible for as high as 175,000 Membership Rewards® Points after spending $8,000 in eligible purchases on your new Card in your first 6 months of Membership. Welcome offers vary and you may not be eligible for an offer.

Similar to the Venture X, you’ll usually receive the most value from your points when you transfer them to American Express’ airline and hotel transfer partners. Depending on the offer you receive, you could also achieve a value in the thousands of dollars if you’re savvy with your points.

CardCritics™ Opinion 

Both the Amex Platinum and Venture X come with strong welcome offers. Because the offer on the Amex Platinum varies for each customer, it’s hard to pin down which is better. That said, the Venture X’s offer matches the highest public bonus we’ve seen for the card, so if it’s been on your radar, now is the time to apply.

Earning Rewards 

Those who prefer simplicity will appreciate the earning structure on both of these cards. Unlike many rewards credit cards, neither the Venture X nor the Amex Platinum comes with a laundry list of bonus categories like dining, gas or groceries. Most purchases earn the same flat rate of return, which is a good thing if you don’t want to do mental gymnastics around which card to use where. 

How To Earn Rewards With Capital One Venture X 

The Capital One Venture X is straightforward. You’ll earn:

• 10x miles on hotels and rental cars booked through Capital One Travel
• 5x miles on flights and vacation rentals booked through Capital One Travel
• 2x miles on other purchases

How To Earn Rewards With Amex Platinum 

With the Amex Platinum Card, you’ll earn:

• 5x points on flights booked directly with airlines or through American Express Travel®, on up to $500,000 in purchases per year
• 5x points on prepaid hotels booked through American Express Travel®
• 1x points on other purchases

CardCritics™ Opinion 

The Venture X shines here for its base rewards rate of 2 miles per dollar on most purchases. That’s effectively 2% back on travel when you redeem miles through Capital One Travel or to erase eligible purchases from your statement, and makes the Venture X a solid “catch-all” card for expenses that don’t fit into bonus categories from other cards in your wallet. 

The Amex Platinum isn’t a great choice for everyday purchases, earning just 1 point per dollar outside of eligible Amex Travel spending. It’s for this reason that I don’t charge much to the card — I keep it mostly for the benefits.

Redeeming Rewards 

The Capital One Venture X and Amex Platinum earn flexible, transferable rewards that you can redeem in multiple ways. With both cards, you’ll get the best value when you redeem rewards for travel.

How To Redeem Rewards With Capital One Venture X 

The Venture X earns Capital One miles. Here’s how you can use them:

• Transfer to airline and hotel partners: Transfer miles to Capital One travel partners, including JetBlue TrueBlue, Air France-KLM Flying Blue, Wyndham Rewards and Choice Privileges (value depends on partner and redemption)
• Capital One Travel: Redeem miles through Capital One’s travel portal for flights, hotels, car rentals and vacation rentals (1 cent per mile)
• Travel purchase eraser: Use Capital One miles toward a statement credit to “erase” eligible travel purchases made in the past 90 days with your card (1 cent per mile) 
• Gift cards: Trade in miles for gift cards from popular merchants (value varies, usually 0.8 to 1 cent per mile)
• Pay with miles: Use miles to pay for your purchase at Amazon checkout or with PayPal (0.8 cents per mile)
• Cash back: Redeem miles for cash back as a statement credit or check (0.5 cents per mile)
• Experiences: Use miles through the Capital One Entertainment platform to book tickets for exclusive events, concerts, sporting events and theater productions (redemption rates vary)

How To Redeem Rewards With Amex Platinum 

You can also redeem Membership Rewards points earned with the Amex Platinum in numerous ways:

• Transfer to airline and hotel partners: Transfer points to American Express transfer partners, including Delta SkyMiles, Air Canada Aeroplan, Hilton Honors and Marriott Bonvoy (value depends on partner and redemption)
• Amex Travel: Redeem points for flights or Fine Hotels & Resorts bookings (1 cent per point), or hotels, car rentals and cruises (0.7 cents per point) 
• Statement credit/cover charges: Use points for a statement credit (0.6 cents per point)
• Pay with points: Pay directly at checkout at participating retailers, such as Amazon, PayPal, Dell and Best Buy (rate varies)
• Gift cards: Trade in points for merchant and Amex gift cards (rate varies)

CardCritics™ Opinion 

Both cards are weak when it comes to redeeming rewards for cash back or statement credits. Transfers to airline and hotel loyalty programs can unlock the highest rate of return, but the best option here depends on the partner programs you prefer. While Amex and Capital One have a lot of partners in common, there are a few that are unique to each program.

For example, if you like to book award flights on Delta, the Amex Platinum is the better choice, since you can convert Amex Membership Rewards points to Delta SkyMiles. Similarly, if you tend to book award stays with Wyndham, the Venture X may be more appealing because Wyndham Rewards is a Capital One partner.

Card Benefits 

Although the Amex Platinum and Capital One Venture X are fairly evenly matched when it comes to earning and redeeming rewards, their perks — and the potential value you can get from them — are significantly different. 

Capital One Venture X Benefits 

You’ve likely seen the “What’s in your wallet?” celebrity endorsements touting VIP-like Capital One Venture X benefits. The card is worthy of the hype — it includes credits and bonuses that can effectively outweigh the $395 annual fee — and that’s before considering extras like lounge access and travel insurance.

Cardholders receive:

• A $300 travel credit each account anniversary year for Capital One Travel bookings
• 10,000 bonus miles every account anniversary (worth at least $100 in travel)
• Airport lounge access, including Capital One Lounge locations and Priority Pass™ lounges (enrollment required)
• Access to Capital One’s Premier Collection of luxury hotels, plus a $100 experience credit, daily breakfast for two, room upgrades (subject to availability) and early check-in/late checkout when available on stays
• Up to a $120 credit for the Global Entry or TSA PreCheck® application fee every four years
• Cell phone protection worth up to $800 per claim (a $50 deductible applies)
• Premium travel protections, including primary car rental insurance, trip cancellation/interruption insurance, trip delay reimbursement, and lost luggage reimbursement
• Purchase security, return protection and extended warranty

Between the card’s annual $300 Capital One Travel credit and 10,000-mile anniversary bonus, the Venture X is more than worth it. That’s one of the reasons I’ve kept the card for several years — the $300 credit is as good as cash to me since I’m able to easily use it on hotel stays and car rentals when I visit my daughter at college. The anniversary bonus adds at least another $100 in value, and I get a lot of mileage out of the airport lounge benefit, particularly access to Capital One Lounges. 

Amex Platinum Benefits 

American Express advertises up to $3,500 in annual value from the Amex Platinum, and while that’s technically true, you’ll have to do a lot of legwork to squeeze every penny from the card’s perks. That said, the Amex Platinum’s $895 annual fee is well worth it if you can maximize some of its key features. 

Amex Platinum benefits include an array of statement credits, partner offers, travel insurance and purchase protections. Plus, the card comes with the most comprehensive airport lounge benefit of any program, including access to Amex’s fancy Centurion Lounges.

Here’s a sampling of the card’s top perks:

• $300 Digital Entertainment Credit: Get up to $25 in statement credits each month after you pay for eligible purchases with the Platinum Card® at participating partners. This can be an annual savings of up to $300. To view participating partners, visit americanexpress.com/platinum. Enrollment required.
• $600 Hotel Credit: Get up to $300 back in statement credits semi-annually for up to a total of $600 per year on prepaid Fine Hotels + Resorts® or The Hotel Collection bookings through American Express Travel® using your Platinum Card®. The Hotel Collection requires a minimum two-night stay.
• $200 Airline Fee Credit: Select one qualifying airline and then receive up to $200 in statement credits per calendar year when incidental fees are charged by the airline to your Card or any of the Additional Cards on your Platinum Card® account. American Express relies on airlines to submit the correct information on airline transactions to identify incidental fee purchases. If you do not see a credit for a qualifying incidental purchase on your eligible Card after 8 weeks, simply call the number on the back of your Card. Qualifying airlines are subject to change. See terms & conditions for more details. Enrollment required.
• $200 Uber Cash+ $120 Uber One Credit: With the Platinum Card® you can receive $15 in Uber Cash each month plus a bonus $20 in December when you add your Platinum Card® to your Uber account to use on rides and orders in the U.S when you select an Amex Card for your transaction. Plus, when you use the Platinum Card® to pay for an auto-renewing Uber One membership, you can get up to $120 in statement credits each calendar year. Terms apply.
• $209 CLEAR® Plus Credit: CLEAR® Plus helps get you to your gate faster by using unique facial attributes to verify you are you at 50+ airports nationwide. You can cover the cost of a CLEAR Plus Membership with up to $209 in statement credits per calendar year after you pay for CLEAR Plus with your Platinum Card®. Excluding any applicable taxes and fees. Subject to auto-renewal.
• Walmart+ Monthly Membership Credit: Receive a statement credit for one monthly Walmart+ membership (subject to auto-renewal) after you pay for Walmart+ each month with your Platinum Card®. Up to $12.95 plus applicable local sales tax. Plus Ups not eligible.
• Shop Saks with Platinum: Get up to $100 in statement credits annually for purchases at Saks Fifth Avenue or saks.com on your Platinum Card®. That’s up to $50 in statement credits from January through June and up to $50 in statement credits from July through December. No minimum purchase required. Enrollment required.
• $300 lululemon Credit: Enjoy up to $75 in statement credits each quarter when you use the Platinum Card® for eligible purchases at U.S. lululemon retail stores (excluding outlets) and lululemon.com. That’s up to $300 in statement credits each calendar year. Enrollment required.
• $300 Equinox Credit: Get up to $300 in statement credits each year at Equinox. Simply use your Platinum Card® to pay for an Equinox+ digital subscription, or an Equinox club membership subject to auto-renewal. Enrollment required.
• American Express Global Lounge Collection®: Eligible Card Members can enjoy the benefits of the Global Lounge Collection, with a value of over $850 when you enroll into Priority Pass Select and make multiple visits to select Lufthansa lounges when flying Lufthansa, Plaza Premium lounges and Escape Lounges each year. As of 07/2025.

I’ve held the card for over five years now, and though I cringe a bit every time the annual fee comes due, I renew it every time because the math just makes sense. Between the hotel, airline fee, Resy, Lululemon and digital entertainment credits, plus the monthly Uber Cash (which I use for Uber Eats), I already come out way ahead — and the rest of the benefits are just gravy.

CardCritics™ Opinion 

Both cards offer benefits that can outweigh their high annual fees, but the Capital One Venture X keeps it much simpler (and with a lower upfront cost). Yes, the Amex Platinum offers higher potential value, but you’ll have to be willing to keep track of a slew of annual, biannual, quarterly or monthly credits to make it worthwhile.

Fees and Costs 

We’ve touched on this already, but it bears repeating: the Amex Platinum vs. Venture X argument is moot if you’re not willing to fork out a substantial annual fee from the outset. That’s not even factoring in other fees and costs with both cards.

Capital One Venture X Fees and Costs 

Considering most premium cards charge annual fees of $550 or more, the Venture X is actually a relatively affordable option in this category:

• Annual fee: ​​$395
• APR: 19.99% - 28.99% (Variable)
• Balance transfer fee: 4% of the amount of each transferred balance that posts to your account at a promotional APR Capital One may offer you; none for balances transferred at the transfer APR
• Cash advance fee: $5 or 5% of each advance (whichever is greater)
• Foreign transaction fee: None
• Late payment fee: Up to $40

Amex Platinum Fees and Costs 

The Amex Platinum has one of the highest annual fees of any consumer card, and you can expect other costs in certain situations:

• Annual fee: $895 
• Authorized user fee: $195 per user
• APR: See Pay Over Time APR
• Foreign transaction fee: None
• Cash advance: $10 or 5% of the cash advance amount, whichever is higher
• Late payment: Up to $40
• Returned payment: Up to $40

CardCritics™ Opinion 

Annual fees aside, the Venture X and Amex Platinum come with fees and costs that are typical of premium cards. The Amex Platinum annual fee is a whopping $500 per year more than that of the Venture X, though, so if a high initial out-of-pocket cost is an issue for you, the Venture X is the better choice.

How To Choose Between Capital One Venture X and Amex Platinum 

Choosing the right credit card for your lifestyle can be challenging, and the Amex Platinum vs. Venture X decision shouldn’t be taken lightly, given their sizable annual fees. Here are some of the factors to consider if you’re torn between these cards.

Choose the Capital One Venture X if you:

• Want a premium travel card with a (relatively) low annual fee
• Prefer Capital One’s airline and hotel transfer partners
• Can easily use the card’s annual $300 Capital One Travel credit
• Aren’t interested in navigating a massive list of statement credits to maximize value
• Enjoy Priority Pass™ and Capital One Lounges
• Already collect and use Capital One miles

Choose the American Express Platinum if you:

• Aren’t turned off by an extremely high upfront cost
• Prefer Amex’s airline and hotel transfer partners
• Can take advantage of the comprehensive American Express Global Lounge Collection
• Don’t mind keeping track of annual, biannual, quarterly and monthly credits
• Spend with merchants and platforms that partner with Amex for these credits (such as Lululemon, Uber, Resy and Saks Fifth Avenue)
• Already collect and use Amex Membership Rewards points

Again, some frequent flyers choose to hold both cards. I’m certainly happy with the value I get from each of them, even though the sticker shock is real when card anniversaries come around. 

That said, if you’re a travel rewards beginner and prefer a simpler approach, the Venture X is the more accessible, newbie-friendly option. Expert-level rewards enthusiasts, meanwhile, will probably get an overall better value from the Amex Platinum if they make the most of every benefit, albeit at the expense of more mental bandwidth.

For Capital One products listed on this page, some of the benefits may be provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply.