Capital One Venture X vs Amex Platinum: Card Terms Compared

Annual fee and how each card earns

Capital One states a $395 annual fee for Venture X, a purchase rate of 19.74%–28.74% variable APR, and a credit level of Excellent. [1] American Express states a $895 annual fee for a Platinum Basic Card, $195 for each Additional Platinum Card, and no annual fee for Companion Platinum Cards. [2]

Venture X earning. The card earns 10X miles on hotels and rental cars booked through Capital One Travel, 5X miles on flights and vacation rentals booked through Capital One Travel, and 2X miles on all other purchases. [1] It also earns 5X on Capital One Entertainment purchases, limited to tickets bought on the Capital One Entertainment ticketing platform and paid for with an eligible card; tickets bought through cardholder-only pre-sales or directly through the Capital One Hall or Capital One Arena ticketing services are excluded. [1]

Platinum earning. The card earns 5X Membership Rewards points on flights booked directly with airlines or through American Express Travel, on up to $500,000 of these purchases per calendar year, 5X points on prepaid hotels booked on AmexTravel.com, and 1X points on all other purchases. [2]

Statement credits and hotel credits

The Platinum page lists these statement credits, each with its own conditions: [2]

• Up to $600 a year in hotel credits, released as up to $300 semi-annually, on prepaid Fine Hotels + Resorts or The Hotel Collection bookings through Amex Travel; The Hotel Collection requires a minimum two-night stay. [2]
• Up to $200 in Uber Cash a year: $15 each month plus a $20 bonus in December, for rides or orders in the U.S. when an Amex Card is selected for the transaction. [2]
• Up to $120 a calendar year after buying an auto-renewing Uber One membership with the card. [2]
• Up to $200 a calendar year for incidental fees, such as checked bags, charged by one selected qualifying airline. [2]
• Up to $219 a calendar year for an auto-renewing CLEAR+ membership, excluding taxes and fees. [2]
• Up to $400 through Resy, paid as up to $100 a quarter at qualifying U.S. Resy restaurants; enrolment required. [2]
• Up to $300 a year for eligible digital entertainment purchases at participating partners, paid as up to $25 a month; enrolment required. [2]
• Up to $300 a year at U.S. lululemon retail stores, excluding outlets, and lululemon.com, paid as up to $75 a quarter; enrolment required. [2]
• Up to $155 a year as a $12.95 monthly credit for one auto-renewing monthly Walmart+ membership. [2]

The Platinum page also lists a statement credit every four years after applying for Global Entry ($120) or up to $85 for a five-year TSA PreCheck membership, when the fee is paid with the card. [2] American Express describes the whole package as "$3,500+ in annual value" — the issuer's own figure, not an independent calculation. [2]

Venture X credits. The Venture X page checked does not list monthly or annual statement credits of that kind, and does not list a Global Entry or TSA PreCheck credit. [1] It lists hotel experience credits instead: up to $100 at Premier Collection properties and up to $50 at Lifestyle Collection properties, applied at checkout by the hotel to qualifying charges on the room bill, and only when the booking is made through Capital One Travel in the eligible cardholder's name with the cardholder in the travelling party. [1] Those benefits apply per room, per stay, and back-to-back bookings of the same property within a 24-hour period count as one reservation, so they do not earn double benefits. [1]

Lounge access and its conditions

Venture X. Primary cardholders can use Capital One Lounge and Landing locations, and Priority Pass lounges, which Capital One describes as 1,300+ participating lounges worldwide. [1] To enter a Capital One Lounge, the eligible cardholder must present the physical Venture X card or the digital lounge pass in the Capital One mobile app; access is not guaranteed and depends on space availability. [1] Priority Pass lounge access requires the cardholder to enrol. [1]

Amex Platinum. The card includes the Global Lounge Collection, described as more than 1,550 airport lounges as of January 2026, covering Centurion Lounges, 10 Delta Sky Club visits when flying on an eligible Delta flight, Priority Pass membership with enrolment required, and other select partner lounges. [2] American Express puts the collection's annual value at "$850+", again its own figure. [2]

Transferring points to partner programmes

Venture X. Miles can be transferred to a choice of 15+ travel loyalty programmes, and once a transfer is final the receiving programme's terms apply. [1] Named partners and transfer ratios are not published on the page checked. [1]

Amex Platinum. American Express says points can be transferred to 20 airline and hotel travel partners. [2] Under the Membership Rewards terms, the member must first link the Rewards Account to the partner loyalty account; that account must be in the member's name or in the name of an Additional Card Member, and the Additional Card must have been issued at least 90 days before linking. [3] Transfers cannot be reversed and the partner programme's terms then apply, the transfer rate varies by partner, and an excise tax offset fee of $0.0006 per point, capped at $99, applies to points sent to a U.S. airline frequent flyer programme. [3] In most cases a transfer must be at least 1,000 points and in multiples of 1,000, and processing typically takes 48 hours. [3] The help-centre answer adds that the name on the card and the name on the loyalty account must match. [4] These terms were last updated in October 2026. [3]

Exceptions and limits

• Venture X expiry. Miles do not expire for the life of the account, and Capital One states there are no blackout dates. [1]
• Reclaimed rewards. Venture X rewards post within one to two billing cycles, require an account that is open and in good standing, and are reclaimed if an eligible purchase is cancelled or returned; the 5X Entertainment rate is for consumer, non-commercial use. [1]
• Airline fee credit timing. American Express relies on airlines to submit correct transaction information, and says to call the number on the back of the card if a qualifying incidental purchase is not credited after eight weeks; qualifying airlines are subject to change. [2]
• Partner withdrawals. If an airline loyalty programme stops participating in Membership Rewards, American Express may limit the number of points transferable to it before participation ends, and that limit will be at least 100,000 points. [3]
• Coverage. Both are US consumer products; the business versions and card versions issued in other countries are not covered here, and neither page checked publishes transfer ratios, a full named-partner list or an independent valuation of either currency. [1] [2] [3]

Related pages

Programmes and currencies: Capital One miles, Amex Membership Rewards (US). Lounge detail: Venture X lounge access, Amex Platinum lounge access. Choosing between premium cards: card selection framework. Terms used above: glossary.

Sources

Sources checked on 18 October 2026. Other card products are not covered here, including the Capital One Venture and Venture X Business cards, the Business Platinum Card, and versions of either card issued outside the United States; see the card selection framework for how to weigh terms.

1. Capital One Venture X Rewards card page and footnotes, checked 18 October 2026
2. American Express Platinum Card page and benefits detail, checked 18 October 2026
3. Membership Rewards Program Terms and Conditions (updated October 2026), checked 18 October 2026
4. American Express help centre: how do I transfer Membership Rewards points?, checked 18 October 2026