While the card has a $395 annual fee, there are so many reasons to get this card, from its excellent welcome bonus, to ongoing perks like a $300 annual travel credit, 10K anniversary bonus miles, a Priority Pass membership, access to Plaza Premium Lounges, access to Capital One Lounges, Hertz President’s Circle elite status, primary rental car coverage, cell phone protection, and amazing authorized user perks. I applied for this card and was instantly approved, and I know many OMAAT readers are in the same boat.
In this post, I wanted to take a closer look at the 10,000 bonus anniversary miles offered by the card, and how exactly that perk works.
How the Venture X anniversary bonus miles benefit works
The Capital One Venture X offers 10,000 bonus miles on your account anniversary every year:
- This applies starting on your first account anniversary (roughly 12 months after you get the card), and you receive it every subsequent year as well
- The 10,000 bonus miles will post to your account within one to two billing cycles of paying the $395 annual membership fee
This is in addition to the card offering a $300 annual travel credit, valid for bookings through Capital One Travel (including for flights, hotels, and rental cars). The annual travel credit is valid each cardmember year (including the year in which you open the account), while the anniversary bonus miles are only available starting your first anniversary.
How can you redeem 10,000 Venture miles?
The 10,000 anniversary bonus miles can be redeemed exactly the same way as all other Capital One Venture miles. There are a variety of ways to redeem Capital One miles:
- You can redeem Venture miles for one cent each toward the cost of virtually any travel purchase charged to the card, using statement credits; that would make the 10,000 Venture miles worth $100
- You can transfer Venture miles to Capital One’s airline and hotel transfer partners, where a vast majority of transfers are at a 1:1 ratio
Personally I value Capital One miles at 1.7 cents each. That’s based on the ability to transfer the points to Capital One’s airline partners at a 1:1 ratio, given all the first & business class award redemptions this opens up, which offer the most value.
Just to give an example, you could redeem 85,000 Venture miles for $850 toward a travel purchase. Alternatively you could transfer those 85,000 miles to Emirates Skywards, and pending award availability, you could fly one-way in first class from Athens to Newark.
If paying cash for that ticket, it would cost well over $5,000 one-way, so that’s quite a good value.
Why the annual bonus miles & travel credit make the Venture X a keeper
The Capital One Venture X has a $395 annual fee, which on the surface might seem like more than most people want to pay for a credit card. I totally get it. However, we’ve never seen a premium card that has perks that so directly and easily cover the annual fee:
- The card offers a $300 annual travel credit valid through Capital One Travel, which you can use to book flights, hotels, rental cars, etc.
- The card offers 10,000 bonus anniversary miles, which are worth a minimum of $100 in travel, but which I value at $170, thanks to the transfer possibilities
In other words, personally I value those two perks at $470, though at a minimum you should value them at $400, which more than covers the annual fee.
And that doesn’t even account for all the other awesome perks of the card, including a Priority Pass membership, access to Plaza Premium Lounges, and access to Capital One Lounges, for the primary cardmember and up to four authorized users.
While the Venture X is the highest annual fee version of the Venture Card, I’d argue it’s also the most economical for savvy travelers.
The Capital One Venture X has lots of great perks, and one of those is the 10,000 anniversary bonus miles offered by the card every year. You earn this starting on your first anniversary (and every subsequent anniversary). The miles can be redeemed for a minimum of one cent each toward a travel purchase, or alternatively, can be converted to points with Capital One’s airline and hotel partners.
The card’s $395 annual fee should be more than justified based on the $300 annual travel credit and 10,000 bonus anniversary miles alone. That’s why this is one of the “cheapest” cards with an annual fee that you can hold onto.
Any other questions I can answer about the Venture X 10,000 anniversary bonus miles?