The Capital One Venture X and Venture X Business cards are popular for their valuable travel benefits and relatively affordable annual fees compared to cards like the Chase Sapphire Reserve and Amex Platinum. A key perk that helps offset the $395 annual fee is the $300 travel credit.
Capital One recently changed how this credit works. Instead of a statement credit after booking, it’s now applied as a discount at checkout within the Capital One Travel portal. While this change slightly alters the value, the credit remains a significant benefit for Venture X cardholders.
Let’s delve into the details of this benefit, how it functions, and everything you need to know about using it effectively, especially focusing on When Does Capital One Travel Credit Reset.
Understanding the Venture X $300 Travel Credit
Each year you hold a Capital One Venture X card, you receive a $300 travel credit. This credit is exclusively redeemable through the Capital One Travel Portal.
Previously, cardholders received a $300 statement credit after making a purchase on the Capital One Travel portal.
Capital One Travel credit example, showing how the credit is applied to reduce the overall cost.
Now, the credit is applied directly to your purchase total during checkout on the Capital One Travel Portal. This provides an immediate discount, eliminating the wait for a statement credit.
When you reach the checkout screen, you’ll see an option to apply your travel credits. The remaining balance and expiration date are also displayed. This allows you to use the credit across multiple transactions. For example, a $200 flight purchase leaves you with $100 to use later.
Here are some other key aspects of the credit:
- No Enrollment Required: Unlike some Amex benefits, you automatically receive this benefit as a cardholder.
- No Venture Miles Used: The credit only works on transactions where you don’t use your Capital One Venture Miles.
- Cancellations: If you cancel a booking made with the credit, Capital One will credit the amount back to your account for future use, provided it hasn’t expired.
- Cardmember Year Basis: This is crucial for understanding when does Capital One travel credit reset. The $300 travel credit is available each cardmember year, not the calendar year. If you opened your Venture X card in November 2022, you’d receive another $300 travel credit after renewing in November 2023.
The “Use It or Lose It” Rule: Credit Rollover
The Venture X $300 travel credit does not roll over. If you don’t use the entire balance before your card renews, you’ll lose any unused amount. Therefore, understanding when does Capital One travel credit reset is essential to maximize the card’s value. Utilizing the full $300 travel credit is key to making the Venture X card worthwhile.
Booking Travel Through the Capital One Travel Portal
Capital One’s travel portal, powered by Hopper, allows you to book flights, hotels, and rental cars. It offers tools and predictive analytics similar to Hopper, helping you find the cheapest flights and the best booking times.
Airlines Available for Booking with the Credit
You can book flights on most airlines through the Capital One Travel Portal using your $300 credit.
This includes major airlines like Delta, United, American, Alaska, and JetBlue, as well as most international carriers. Most fares you find on Google Flights should be available on the portal, with similar pricing.
Capital One Travel Portal Booking Screen
The availability of low-cost carriers like Spirit, Sun Country, and Frontier can vary depending on the route. Southwest Airlines is not available for booking through the portal, as their flights are exclusively bookable on their website.
Earning Miles on Travel Booked with the Credit
Capital One incentivizes booking through its travel portal by offering bonus miles. Venture X cardholders earn 10x Venture Miles per dollar spent on hotels and rental cars and 5x miles per dollar spent on flights booked through the portal when paying with their Venture X card.
However, using the $300 travel credit impacts the number of miles earned. Applying the credit as an immediate discount reduces the total booking amount charged to your Venture X card, thereby lowering the number of bonus Venture Miles you earn.
Previously, booking a $300 flight earned 1,500 Venture Miles and the $300 was returned as a statement credit. Now, the credit results in a free flight but earns zero Venture Miles.
You will still earn airline miles and elite status credits on flights booked through the portal, even when using the $300 travel credit. This generally does not apply to hotels booked through online travel agencies.
Venture X Travel Credit vs. Other Premium Travel Credits
Many premium travel credit cards offer annual travel credits, with varying terms.
The Chase Sapphire Reserve offers a $300 travel credit annually, without requiring bookings through a specific portal. You can use it directly with airlines, Uber, Lyft, or any other travel expense.
Chase Sapphire Reserve 0 Travel Credit Qualifying Charges
The Platinum Card from American Express offers multiple credits with specific requirements. A $200 Amex airline credit covers fees like baggage fees and lounge passes, but selecting one domestic airline each year is required. Additionally, a $200 credit is available for Fine Hotels and Resorts or Hotel Collection properties with a minimum two-night stay booked via Amextravel.com.
The Venture X $300 travel credit offers a balance between the ease of use of the Chase Sapphire Reserve and the complexity of the Amex Platinum credits, with a lower annual fee.
Conclusion
The Venture X $300 travel credit is relatively straightforward. While the recent change slightly reduces the value by impacting mile earnings, it remains a key benefit of both the personal and business versions of the Venture X card.
Remember, the crucial aspect of when does Capital One travel credit reset determines how you maximize this benefit. Booking $300 worth of flights, hotels, or rental cars annually effectively offsets a significant portion of the card’s $395 annual fee.
