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Capital One announces new premium Venture X travel credit card | CNN


CNN Underscored critiques monetary merchandise akin to bank cards and financial institution accounts primarily based on their general worth. We could obtain a fee for those who apply and are permitted for a card, however our reporting is all the time impartial and goal.

In the previous couple of years, Capital One has made huge strides in making its travel credit cards extra aggressive with different main gamers akin to Chase and American Categorical. On Thursday, the issuer took one other big step by asserting its first-ever premium bank card, the Capital One Enterprise X.

The Enterprise X, which may have an annual price of $395, will open for purposes beginning Nov. 9. Its perks embrace $300 in annual assertion credit for bookings made by the newly relaunched Capital One Travel portal, 10,000 bonus miles annually beginning with the second 12 months you may have the cardboard, as much as $100 in credit for a Global Entry or TSA PreCheck membership, complimentary cellular phone insurance coverage, and maybe most significantly, a Precedence Go Choose membership and complimentary entry to the issuer’s new airport lounge community, which opens its first location at present on the Dallas-Ft. Value airport.

The Enterprise X options fewer perks than different standard premium journey bank cards, but additionally a decrease annual price. “Many individuals don’t need to pay $500 to $600 for a bank card,” mentioned Lauren Liss, Managing Vice President of Premium Merchandise, Rewards and Partnerships at Capital One. “Many don’t need to take the time to maintain monitor of all the advantages. So we felt this was the proper time to launch a brand new bank card.”

Like its sister card, the Capital One® Venture® Rewards Credit Card, the Enterprise X earns 2 miles for each greenback you spend on all the pieces you purchase, together with a complete of 5 miles per greenback on flights booked by Capital One Travel, and 10 miles per greenback on resorts and rental automobiles booked by way of Capital One Journey.

When the Enterprise X launches, new card holders will be capable to earn 100,000 bonus miles after spending $10,000 on purchases within the first six months after opening the account. And for a restricted time, as a part of the sign-up bonus, card holders will obtain as much as $200 in assertion credit for trip leases like Airbnb and VRBO.

Miles earned with the Capital One Enterprise X may be redeemed at a charge of 1 cent apiece for any journey buy made with the cardboard utilizing Capital One’s “Buy Eraser” software. At that charge, the 100,000 bonus miles from the Enterprise X are price a formidable $1,000 towards journey.

Card holders may also use the miles to guide flights and resorts at Capital One Journey on the similar redemption charge. Capital One Travel gives extra options akin to value safety and value prediction expertise, powered by Hopper’s prediction algorithm.

However Enterprise X miles can be transferred to any of the issuer’s 16 airline and resort switch companions for doubtlessly even better worth. Most of those companions switch at a 1-to-1 ratio, that means for each 1,000 miles you switch from the Enterprise X, you’ll get 1,000 factors or miles within the corresponding airline or resort loyalty program.

It takes further time and suppleness to guide journey this fashion, however it can lead to considerably higher redemption charges, particularly for first or enterprise class flights. That’s why frequent flyer web site The Points Guy values Capital One miles at 1.85 cents apiece, which might make the 100,000-mile bonus price a whopping $1,850.

No doubt, the 2 finest perks on the brand new Capital One Enterprise X card are the $300 annual credit score for bookings made by way of Capital One Travel and complimentary entry to Capital One’s new airport lounges.

If you need to use all the $300 credit score on journey bookings annually — which shouldn’t be tough provided that Capital One Travel gives entry to most flights and resort rooms — it successfully reduces your out-of-pocket price for the cardboard to an especially affordable $95, a superb worth for those who can make the most of even just a few of the cardboard’s extra perks.

Capital One

A have a look at Capital One Journey’s flight value prediction expertise.

However there’s additionally the ten,000 bonus miles that every one card holders obtain beginning in the beginning of the second 12 months you may have the Enterprise X, and yearly thereafter. These 10,000 bonus miles are price $100 when redeemed by Capital One Travel or through the use of the cardboard’s “Buy Eraser,” which successfully covers the rest of the $395 annual price.

So far as the issuer’s new lounge community, CNN Underscored bought a sneak peek of the first new lounge in Dallas final month, and got here away extraordinarily impressed with its glorious pure mild, ingenious use of house, scrumptious cocktails and acute consideration to element. It’s a serious step up from the competing Amex Centurion Lounge, additionally situated in DFW’s Terminal D.

Enterprise X card holders may have limitless entry to Capital One lounges beginning three hours earlier than their flight’s scheduled departure time. They’ll additionally usher in two friends per go to at no cost, whereas extra friends will price $45 every. Youngsters beneath two can enter free of charge.

Whereas the Dallas location is the one new lounge open to this point, extra Capital One lounges are at present being in-built Denver and Washington, DC’s Dulles airports, with extra areas undoubtedly to observe. Within the meantime, the Enterprise X’s complimentary Precedence Go Choose membership gives free entry for you and two friends to over 1,300 airport lounges and eating places world wide.

Additionally of curiosity is the Enterprise X’s complimentary cell phone insurance. While you pay your month-to-month cellular phone invoice together with your Enterprise X card and your cellular phone is stolen or broken, you’re eligible to be reimbursed for its restore or substitute, as much as $800 per declare with a most of two claims per 12-month interval. There’s a $50 deductible per declare.

One different neat characteristic of the Enterprise X is that, if in case you have household or associates that you just’d like so as to add to your account, major card holders can add licensed customers for gratis, and people licensed customers may also get limitless entry to all Capital One lounges, together with a Precedence Go membership and cellular phone insurance coverage after they pay their month-to-month cellular phone invoice with the cardboard.

Emily McNutt

At first blush, the Capital One Enterprise X, mixed with the brand new Capital One lounges, seem to make an awesome pairing.

With playing cards just like the Chase Sapphire Reserve® and The Platinum Card® from American Express frequently including new options whereas rising their annual charges, it’s considerably refreshing that Capital One has chosen to create a premium card with a comparatively low value level and primary easy-to-use elite perks that many vacationers actually need. Whereas $395 could seem to be some huge cash for a bank card, it’s less expensive than the $550 annual price of the Chase Sapphire Reserve or the $695 annual price of the Amex Platinum, and it’s straightforward to primarily offset the Enterprise X’s total annual price with its $300 annual journey credit score and the ten,000 anniversary bonus miles that begin with the second 12 months you may have the cardboard.

If there’s one facet of the Enterprise X that’s maybe a bit disappointing, it’s the inaugural sign-up bonus. Whereas 100,000 miles is actually nothing to sneeze at, we’ve seen the identical 100,000-mile bonus on the $95 Capital One Enterprise bank card at the least twice previously few years, and the Enterprise X’s $10,000 minimal spending requirement gained’t be straightforward to satisfy for many individuals who don’t sometimes spend over $1,600 every month on their bank card.

Nonetheless, our first impression of the Capital One Enterprise X is actually optimistic, and when accompanied by the spectacular new Capital One Lounge in Dallas, we’re very a lot wanting ahead to the launch of this new bank card on Nov. 9, together with the opening of extra airport lounges within the Capital One community within the close to future.

On the lookout for a brand new bank card? Discover out which playing cards CNN Underscored selected as its best travel credit cards of 2021.

Get all the latest personal finance deals, news and advice at CNN Underscored Money.



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