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In the world of premium travel rewards cards, The Platinum Card^® from American Express stands tall above the rest. If you’re a frequent traveler, you may already have the card or at least have considered applying for it.
The Amex Platinum card, while an exceptional travel rewards card, is not for everyone. And, with the introduction of a new travel rewards card, Capital One throws its hat in the ring with an alternative.
The Capital One Venture X Rewards Credit Card offers key premium benefits a frequent traveler can certainly value, but is the card a true competitor to the Amex Platinum card?
We’ll find out today as we take a look at each card’s earning potential and the value of your rewards at redemption time. We’ll also talk about travel and shopping benefits that can save you money, elevate your travel experience, or provide protection when you need it.
Both the Capital One Venture X card and the Amex Platinum card could potentially add value to any frequent traveler’s lifestyle. Each card offers an impressive list of earning and redemption options, plus plenty of travel/shopping benefits.
In an effort to determine the overall value for your specific situation, however, it’s helpful to look at the overall attributes of each card in a side-by-side comparison.
Here’s how the cards stack up in all the key benefit areas:
Benefit
Capital One Venture X Card
Amex Platinum Card
Earning
Top Redemption Options
Travel Benefits and Protections
Shopping Benefits and Protections
Annual Fees and Authorized Users
Premium travel rewards cards generally offer an initial welcome bonus that allows you to earn a large number of rewards by meeting minimum spending requirements within a period immediately following your card approval. The Capital One Venture X card and the Amex Platinum card both offer this opportunity.
The Capital One Venture X card earns Capital One miles, which we currently value at approximately 1.8 cents each. The Amex Platinum card earns Membership Rewards points that we value at 2.2 cents each.
Welcome bonuses change, as well as rewards valuations, so it’s important to review the current information before applying for any card.
Here are the present overviews of our featured cards with current welcome bonus information.
The Capital One Venture X card is an excellent option for travelers looking for an all-in-one premium credit card.
The Capital One Venture X Rewards Credit Card is the premium Capital One travel rewards card on the block.
Points and miles fans will be surprised to see that the Capital One Venture X card packs quite the punch when it comes to bookings made through Capital One, all while offering the lowest annual fee among premium credit cards.
Depending on your travel goals and preferences, the Capital One Venture X card could very well end up being your go-to card in your wallet.
 
Capital One Miles
 
The Amex Platinum reigns supreme for luxury travel, offering the best airport lounge access plus generous statement credits, and complimentary elite status.
If you're approved and accept this Card, your credit score may be impacted.
When it comes to cards that offer top-notch benefits, you’d be hard-pressed to find a better card out there than The Platinum Card^® from American Express.
Make no mistake — the Amex Platinum card is a premium card with a premium price tag. With amazing benefits like best-in-class airport lounge access, hotel elite status, and tremendous value in annual statement credits, it can easily prove to be one of the most lucrative cards in your wallet year after year.
American Express Membership Rewards
Hot Tip: Check to see if you’re eligible for a welcome bonus offer of up to 175k points with the Amex Platinum. The current public offer is 80,000 points. (This targeted offer was independently researched and may not be available to all applicants.)
Bottom Line: Both the Capital One Venture X card and Amex Platinum card offer welcome bonuses that can be worth thousands of dollars. Jumpstart your earnings by meeting minimum spending requirements within the specified period that begins immediately after you are approved for the card. 
The Capital One Venture X card and Amex Platinum card each earn distinctly different rewards currencies. Capital One miles, (not the same as frequent flyer miles) are earned on the Capital One Venture X card, and the Amex Platinum card earns Membership Rewards points.
Let’s look at the bonus categories for each card and how you earn rewards.
Earning Category
Capital One Venture X Card
Amex Platinum Card
Travel
Additional Earnings
 
All Other Purchases
You’ll find the greatest earnings on our featured cards are for travel purchased via the cards’ associated travel portals. For non-bonus category purchases, the Capital One Venture X card has the edge, earning 2x miles per dollar spent (approximate total value of 3.6 cents) versus the Amex Platinum card at 1 point per dollar spent (approximate total value of 2.2 cents).
Bottom Line: Both cards offer accelerated earnings on travel. The Capital One Venture X card and Amex Platinum card offer the greatest earning potential for travel purchases via each card’s associated travel portal, whether Capital One Travel or AmexTravel.com. 
Once you’ve accumulated a stash of rewards, you’ll want to make wise choices at redemption time to receive the best value. As we learned previously, the best earning potential for either the Capital One Venture X card or the Amex Platinum card is in the travel category. The same holds true for receiving the best value when redeeming rewards — travel is your best redemption option.
Here are the choices you will have when it’s time to redeem your rewards.
Redemption Options
Capital One Venture X Card
Amex Platinum Card
Travel
Additional Redemption Options
Note that some redemption options, such as shopping with affiliated retailers, gift cards, and even some statement credit options, can result in a value of less than 1 cent per mile or point. These are not a good value for your rewards.
Bottom Line: The best potential value redemption for rewards earned on either the Capital One Venture X card or Amex Platinum card is transferring to travel partners. 
Here are the air travel-related benefits you’ll find on both the Capital One Venture X card and the Amex Platinum card:
In addition to the benefits above, each of our featured cards offers unique savings, statement credits, and perks.
For more information, check out our guide to all of the Capital One Venture X card’s benefits.
Both cards offer Rental Car Collision Damage Waiver Coverage.
The Capital One Venture X card comes with primary coverage.
The Amex Platinum card comes with secondary coverage with the option to purchase Premium Protection for one low price that covers the entire rental period.
You receive these valuable travel insurance benefits on both cards.
Check out our comprehensive guide to the full list of travel insurance benefits for the Amex Platinum card.
Bottom Line: With so many travel benefits and protections found on both the Capital One Venture X card and the Amex Platinum card, the better card for you in this category will be the one with the collection of benefits you will actually use and that will provide the most economic bottom-line value. 
Purchases made with either the Capital One Venture X card or Amex Platinum card may be eligible for discounts, elevated earnings, or protection if something should go wrong with your purchase.
Let’s start with the benefits you’ll find on both of our featured cards:
You’ll also find that each card offers its own unique shopping benefits.
Bottom Line: Both the Capital One Venture X card and Amex Platinum card offer valuable protection for eligible items purchased with your card. The Amex Platinum card does have the edge in the shopping benefits category with the statement credits. 
Up to $200 in Uber Cash — Add your Amex Platinum card to your Uber account and receive VIP status plus $15 in Uber Cash deposited into that account each month January through November. In December you’ll receive $35 for a total of up to $200 each calendar year. Uber Cash can be used for rides or Uber Eats in the U.S.
An Amex Card must be selected as the payment method for your Uber or Uber Eats transaction to redeem the Amex Uber Cash benefit.
While premium travel rewards cards offer a lot of useable benefits, most come with a high annual fee. It’s prudent to consider annual fees, as well as other fees when determining if a card provides bottom-line value.
Here’s how the Capital One Venture X card and Amex Platinum card compare when we look at fees and adding authorized users.
The Capital One Venture X card charges an annual fee of $395 (rates & fees), while the Amex Platinum card charges an annual fee of $695 (see rates & fees).
You can add additional users to your Amex Platinum card for $195 per card (see rates & fees). You may also add no-additional fee authorized user American Express^® Gold Cards that do not come with any added benefits (see rates & fees).
Keep in mind that the primary cardholder is responsible for any charges made by authorized users.
Hot Tip: Authorized users on the Amex Platinum card enjoy their own Priority Pass Select membership.
Never experience added fees when making purchases abroad using either of our featured cards. For the Amex Platinum card, see rates & fees; for the Capital One Venture X card, see rates & fees.
Capital One has made a triumphant leap by introducing the Capital One Venture X card to the travel rewards card market. In fact, those who will not fully utilize the massive list of benefits offered by the Amex Platinum card may find plenty of value with the Capital One Venture X card, especially with the lower annual fee (rates & fees).
The frequent traveler, however, will want to look closer and review the list of travel transfer partners associated with each card to determine if their preferred airline or hotel partner is an option.
If Centurion Lounge is your lounge brand of choice, you value mid-level hotel status, and you can utilize enough of the travel/shopping statement credits offered by the Amex Platinum card, it could also be a better option.
Bottom line, there’s not a bad choice to be made here, only one that may be a better fit.
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.
Upon enrollment, accessible through the Capital One website or mobile app, eligible cardholders will remain at that status level through the duration of the offer. Please note, enrolling through the normal Hertz Gold Plus Rewards enrollment process (e.g. at Hertz.com) will not automatically detect a cardholder as being eligible for the program and cardholders will not be automatically upgraded to the applicable status tier. Additional terms apply.
For the cell phone protection benefit of The Platinum Card^® from American Express, coverage for a stolen or damaged eligible cellular wireless telephone is subject to the terms, conditions, exclusions and limits of liability of this benefit. The maximum liability is $800, per claim, per eligible card account. Each claim is subject to a $50 deductible. Coverage is limited to two (2) claims per eligible card account per 12 month period. Eligibility and benefit level varies by Card. Terms, conditions and limitations apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by New Hampshire Insurance Company, an AIG Company.
For the purchase protection benefit of The Platinum Card^® from American Express, purchase protection is an embedded benefit of your card membership and requires no enrollment. It can help protect covered purchases made on your eligible card when they’re accidentally damaged, stolen, or lost, for up to 90 days from the covered purchase date. The coverage is limited up to $10,000 per occurrence, up to $50,000 per card member account per calendar year. Coverage limits apply. 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.
For the extended warranty benefit of The Platinum Card^® from American Express, when an American Express^® card member charges a covered purchase to an eligible card, extended warranty can provide up to one extra year added to the original manufacturer’s warranty. Applies to warranties of five (5) years or less. Coverage is up to the actual amount charged to your card for the item up to a maximum of $10,000; not to exceed $50,000 per card member account per calendar year. 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.
For the return protection benefit of The Platinum Card^® from American Express, with return protection, you may return eligible purchases to American Express if the seller won’t take them back up to 90 days from the date of purchase. American Express may refund the full purchase price excluding shipping and handling, up to $300 per item, up to a maximum of $1,000 per calendar year per Card account, if you purchased it entirely with your eligible American Express^® Card. Purchases must be made in the U.S. or its territories. Eligibility and benefit level varies by card. Terms, conditions and limitations apply. Please visit americanexpress.com/benefitsguide for more details.
For the baggage insurance plan benefit of The Platinum Card^® from American Express, baggage insurance plan coverage can be in effect for covered persons for eligible lost, damaged, or stolen baggage during their travel on a common carrier vehicle (e.g. plane, train, ship, or bus) when the Entire Fare for a ticket for the trip (one-way or round-trip) is charged to an eligible card. Coverage can be provided for up to $2,000 for checked baggage and up to a combined maximum of $3,000 for checked and carry-on baggage, in excess of coverage provided by the common carrier. The coverage is also subject to a $3,000 aggregate limit per covered trip. For New York State residents, there is a $2,000 per bag/suitcase limit for each covered person with a $10,000 aggregate maximum for all covered persons per covered trip. 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.
For the trip delay insurance benefit of The Platinum Card^® from American Express, up to $500 per covered trip that is delayed for more than 6 hours; and 2 claims per eligible card per 12 consecutive month period. Eligibility and benefit level varies by card. Terms, conditions and limitations apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by New Hampshire Insurance Company, an AIG Company.
For the trip cancellation and interruption insurance benefit of The Platinum Card^® from American Express, the maximum benefit amount for trip cancellation and interruption insurance is $10,000 per covered trip and $20,000 per eligible card per 12 consecutive month period. Eligibility and benefit level varies by card. Terms, conditions and limitations apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by New Hampshire Insurance Company, an AIG Company.
The better card for you will be the one that matches your travel purchase and redemption preferences. It also depends on the travel and shopping benefits you will ultimately use. And of course, consider what annual fee you’re comfortable paying. If you spend a lot on purchases other than travel, the Capital One Venture X card will earn 2x miles versus 1x Membership Rewards points on the Amex Platinum card. However, the Amex Platinum card does offer more statement credits and premium travel benefits that, if you can utilize them, could potentially offer good value.
The Capital One Venture X card is a Visa Infinite card that comes with expanded Visa benefits such as cell phone protection.
You will need a good to excellent credit score to be approved for the Capital One Venture X card. A good to excellent score ranges from 670 to 850. The higher your score, of course, the better your chances are for approval.
It can be, but the card is not for everyone. If you are currently paying for Priority Pass lounge access (or Delta Sky Club membership), value mid-level hotel loyalty program status, and can utilize many of the travel and shopping statement credits, you can find enough value to offset the annual fee. If you can use the $200 in Uber Cash, $240 in digital entertainment credits, and $200 in statement credits for airline incidentals, you will have nearly offset the annual fee with just those credits. Plus, if Centurion Lounges are important to you when you travel, you’ll find even greater value.
For rates and fees of The Platinum Card^® from American Express, click here.
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Christine ran her own business developing and managing insurance and financial services offices. This stoked a passion for points and miles and she now has over 2 dozen credit cards and creates in-depth, detailed content for UP.
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