Say you’ve become a cash-back maestro, optimizing your wallet with cards that earn in your most frequent spending categories. Perhaps you’ve started using a mid-tier travel rewards card, redeeming points and miles you’ve earned from a cobranded card, or earning rewards that you redeem through a travel portal.
You’re not quite a credit card beginner, but you haven’t applied for a card that charges more than $100 in annual fees. You’ve noticed some of the wildly high bonuses or luxury benefits offered on premium cards, and you’re ready to dive in.
I’ve been there. I developed a strategy centered on cash back and eventually expanded it to include travel rewards cards. Within a few months, I realized I wanted more perks, such as airport lounge access and valuable statement credits. With a solid credit score and good credit history, it was time to apply for a premium rewards card.
Now, I wouldn’t recommend that most beginner-to-intermediate card enthusiasts go headfirst into a card that charges more than $500 in annual fees. Matter of fact, I’d recommend one of my wallet staples to most award travelers ready for their first premium credit card: the Capital One Venture X Rewards Credit Card.
With a solid list of perks at a $395 annual fee, here is why you should consider making the Venture X your first premium card.
Access airport lounges
The Venture X was my first card with lounge access, and I think it’s a great card to start with — especially if you fly in or out of an airport with a Capital One Lounge.
Don’t let that limit you, though. I don’t live close to a Capital One Lounge location, but I still find the Venture X’s lounge privileges useful. That’s because the card also provides the primary cardholder with a Priority Pass membership, which grants access to 1,300-plus lounges worldwide.
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If you’re simply lounge-curious (and uncertain if it will matter that much to you), I see the Venture X as a fantastic card to try them out. For a $395 annual fee, the Venture X is one of the most affordable cards on the market with lounge access. You don’t have to commit to a sky-high annual fee of over $700 if you’re unsure that lounge access will be worth it for you.
While Capital One will tighten lounge access starting Feb. 1, 2026, the Venture X remains a good starter card for lounge access perks.
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Related: The least expensive cards for airport lounge access
Take advantage of a straightforward travel credit
Many premium credit cards provide multiple statement credits to help offset high annual fees.
The Venture X provides a credit of its own, but it’s easy to use. This is perfect for someone dipping their toes into this aspect of being a rewards cardholder. This credit happens to be the card’s most valuable benefit, too: an annual $300 statement credit for bookings made through Capital One Travel.
When you maximize it, this perk single-handedly lowers the card’s effective annual fee to $95. You don’t have to track it quarterly or biannually (like the credits on some premium competitors). All you have to do is book a trip through the issuer’s travel portal.
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I used this credit in my first year of card membership to take $300 off a three-night stay at the Conrad Las Vegas at Resorts World — a booking that would’ve cost nearly $1,000 if I hadn’t applied it.
If you can remember to use this portal credit each year, you’re well set up for the complexity with other premium cards. The multitude of statement credits on cards like the American Express Platinum Card® and Chase Sapphire Reserve® (see rates and fees) require thoughtful tracking, but the Venture X keeps it (relatively) simple.
Related: How the Capital One Venture X travel credit can save you $300 on your next trip
Earn miles without memorizing bonus categories
The Venture X is a fantastic card if you want to earn at a high rate without needing to track multiple bonus categories.
You’ll earn a flat 2 miles per dollar spent on purchases outside the Venture X’s two bonus categories, which is why the Venture X has cemented itself as my “catch-all” everyday spending card.
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You’ll earn bonus miles when you spend in Capital One’s travel portal, too:
- 10 miles per dollar spent on hotels and rental cars booked through Capital One Travel
- 5 miles per dollar spent on flights and vacation rentals booked through Capital One Travel
While other premium cards often complicate earning with many bonus categories and a lower rewards rate outside of these categories, you’re guaranteed a higher return than 1 mile per dollar spent with every purchase on the Venture X.
Related: 5 reasons why I’m applying for the Capital One Venture X
Redeem miles with ease
Once you’ve earned your miles, you shouldn’t need to worry about analysis paralysis when it comes to using your miles or complicated redemptions.
Of course, I recommend transferring your miles to one of Capital One’s 15-plus transfer partners to get as close as possible to TPG’s December 2025 valuation of Capital One miles at 1.85 cents apiece.
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However, if you aren’t yet ready to transfer your miles, you have some easy, fixed-value redemption options. You can use your miles to:
- Book with Capital One Travel
- Cover a travel-related purchase made through Capital One Travel or with your eligible Capital One card within 90 days
Related: Cashing in Capital One miles? How to get the maximum value when redeeming miles
Secure the Venture X’s highest welcome offer in four years
The Venture X is currently running its highest welcome bonus in four years. So if you’re seriously considering an application, now would be a great time to submit it.
New cardholders can earn 100,000 bonus miles after spending $10,000 on purchases in the first six months from account opening.
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TPG’s valuations place this offer at a value of $1,850 — a stellar value for its $395 annual fee.
If you decide to apply, you’ll want to keep Capital One’s application restrictions in mind, especially the rule requiring 48 months between earning bonuses on a card within the Venture family. However, these restrictions shouldn’t affect your ability to be approved for the Venture X unless you’ve had the card and earned the bonus on it within the last 48 months.
Related: Highest offer in 4 years: Just how good is the Capital One Venture X’s 100,000‑mile bonus?
Bottom line
The Venture X was the card that upgraded my portfolio from cash-back and mid-tier cards. It inspired me to get that first taste of luxury benefits, and I keep it in my wallet to this day because it provides so much ongoing value.
Because of the Venture X’s relative simplicity, reasonable annual fee and solid benefits, I’d recommend this card to most award travelers.
If you’ve set yourself up with an award strategy ready for its first premium card, the Venture X deserves your attention.
To learn more, read our full review of the Venture X.
Learn more: Capital One Venture X Rewards Credit Card
