Why the Capital One Venture X is ideal for vacation rentals
Capital One surprised everyone by launching a new premium travel credit card at the end of 2021. But what’s even more surprising is how popular this credit card seems to be. After all, premium travel credit cards like The Platinum Card® from American Express and Chase Sapphire Reserve have dominated the premium card market for years.
Who would have thought Capital One could come up with a card with such an amazing mix of benefits and features? I’ve been a lifelong Chase enthusiast, but even I pretty much signed up for the Capital One Venture X Rewards credit card right away.
When you break down the details of this new travel credit card, it’s easy to see why anyone might want it, especially for the first year. From its generous travel rewards rates to its statement credit offers, including statement credit for vacation rental bookings, there’s a lot to like about the Capital One Venture X.
Capital One Venture X Quick Details
- 100,000 bonus miles when you spend $10,000 on purchases within six months of account opening
- Up to $200 in statement credits for vacation rentals in the first year
- 10X miles on hotels and rental cars booked through Capital One Travel, 5X miles on flights booked through Capital One Travel and 2X miles on all other purchases
- 10,000 bonus miles when you renew your card on your account anniversary
- Up to $300 in annual statement credits for Capital One Travel purchases
- $395 annual fee
One of the first details to note about Capital One Venture X is its annual fee of $395, which is much lower than the annual fees charged by other premium cards. The annual travel credit of up to $300 and the credit of up to $200 for vacation rentals more than offset these costs in the first year.
Also note that cardholders get other valuable benefits such as a credit (up to $100) for Global Entry or TSA PreCheck membership and Priority Pass Select airport lounge membership (from a value of $429). Capital One Venture X cardholders can also access Capital One airport lounges.
Finally, don’t forget that Capital One miles are extremely flexible, especially for travel. Not only can you use your miles to cover travel expenses charged to your account, but you can also transfer miles to Capital One airline and hotel partners. You can even redeem your miles for cash back, statement credits, gift cards and merchandise.
Why the Capital One Venture X is a good option for vacation rentals
If you like to stay in vacation rentals rather than traditional hotels and resorts, the Capital One Venture X can be very appealing, especially in the first year. This is primarily due to the Capital One Venture X vacation rental credit of up to $200 you get for qualifying vacation rental reservations in the first year of card membership.
Also note that in some destinations, Capital One Travel offers vacation rental options in addition to the usual hotels and resorts. This is important because this card also comes with a $300 annual credit that you can use for bookings through Capital One Travel each year.
For example, I found several apartment-style booking options through Capital One Travel in Destin, Florida, including a two-bedroom condo with a terrace that can be booked for $234 a night.
In Gulf Shores, Alabama, on the other hand, Capital One Travel offers a three-bedroom luxury condo that can be booked for $489 a night.
These are just a few of the vacation rental style accommodation options you can find on the Capital One Travel portal, but there are many more. The key to using your travel credit up to $300 for vacation rentals is to be as flexible as possible with your travel destination and travel dates.
Which merchants count towards the $200 vacation rental credit?
When it comes to the Capital One Venture X vacation rental credit you receive in the first year of card membership, it’s important to know which rental companies are eligible. Fortunately, Capital One makes this part very clear in the Cardholder Terms and Conditions.
According to Capital One, eligible vacation rental merchants include Airbnb, Turnkey, Vacasa and VRBO.
How to Use Venture X Vacation Rental Credit
The Capital One Venture X vacation rental loan is extremely easy to use. All you need to do is charge a vacation rental from an eligible business to your Capital One Venture X within the first year of card ownership. From there, Capital One will automatically apply the credit to your account in one credit for purchases of $200 or more. If your vacation rental reservation is less than $200, Capital One will provide multiple statement credits until you have used up all of the $200 vacation rental credit available to you.
Depending on the fine print, the credit(s) should appear in your account within one to seven business days. However, it may take up to two billing cycles to receive your credits.
Other travel cards to consider
If you’re considering a premium travel credit card because you want access to premium perks like airport lounge access and Global Entry or TSA PreCheck membership, the usual suspects like Amex Platinum and Chase Sapphire Reserve can make a lot of sense. After all, these two travel credit cards offer these benefits and more, but with much higher annual fees ($695 for the Amex Platinum and $550 for the Chase Sapphire Reserve).
Maybe you’re trying to avoid shelling out hundreds of dollars for a travel credit card. In that case, you can always consider the traditional Capital One Venture Rewards credit card, which offers a generous welcome bonus and 2X miles on all spend in exchange for a $95 annual fee.
Of course, if you want transferable points without having to pay more than $100 a year, the Chase Sapphire Preferred card is one of the most popular cards. This card offers 60,000 bonus points when you spend $4,000 on purchases within three months of opening the account. In the meantime, you also earn 5X points on trips booked through Chase Ultimate Rewards, 5X points on Lyft rides (through March 2022), 3X points on online grocery purchases, restaurants, and select streaming services, 2X points on other travel purchases and 1X points on anything you buy.
The bottom line
The Capital One Venture X is a great credit card for vacation rentals, but it’s also useful for other types of travel. The first year welcome bonus and ongoing rewards can also make this a solid rewards credit card for all your expenses and bills.
Even so, it never hurts to compare other travel credit cards, including other Capital One credit cards. And if you can’t make do with just one travel credit card, don’t be afraid to get several.