Update: Don’t forget to use your annual Capital One Venture Rewards Credit Card X Rewards Credit Card and Capital One Venture Rewards Credit Card X Business Card $300 travel spending!
That credit is no longer as easy as it used to be to obtain, but you can still turn non-basic economy trips into flexible Alaska, JetBlue, or United credit that anyone can use later on.
Originally posted on 11/4/22:
Last November, Capital One launched their most innovative and lucrative card to date, the Venture X Card.
The value proposition is easy to understand. It has a $395 annual fee, but comes with a $300 annual travel credit and a 10,000 point annual anniversary bonus, which more than covers the fee. The other card benefits, including earning 2 miles per dollar everywhere, Global Entry/PreCheck, free museum admissions, Hertz President’s Circle status, Visa Infinite benefits, Capital One, Plaza Premium, and Priority Pass lounge access, as well as status and lounge benefits for free additional users, are all gravy after accounting for those annual freebies.
Capital One also has excellent mileage transfer partners, frequent transfer bonuses, and offers the ability to transfer points to miles in 100 mile increments after the first 1,000 instead of 1,000 mile increments with other banks. You can pay yourself back at 1 cent per point (which is 2 cents per dollar spent) for travel spending made anywhere. Plus you can transfer miles to any other cardholder, convert cashback into miles, and redeem points for baseball experiences and tickets at an incredible value.
The $300 annual travel credit renews when your annual fee posts. If you opened your card in November 2021, your fee will post next month. You can look at your past statement close dates for the approximate date when your annual fee will be billed.
The credit is valid for anything on the Capital One Travel portal, where you can book flights, hotels, and car rentals. Those credits can be applied multiple times until you spend $300 in a card membership year.
If you applied for your card between November 2021 and 3/12/22, you also have a $200 credit for vacation rental purchases like VRBO, Airbnb, Vacasa, Turnkey, Sandbridge, and more, for use within 12 months of account opening. Those credits can be applied multiple times until you spend $200.
Finally, it’s worth noting that Capital One is an outlier when it comes to account downgrading. While you may be eligible for a downgrade to Capital One Venture Rewards Credit CardOne (no annual fee) or Capital One Venture Rewards Credit Card ($95 annual fee), you won’t get a refund of the $395 fee once the fee has been billed to your account. Most other banks allow a full or prorated refund for downgrading a card after a fee is billed. You can try calling to downgrade before the annual fee is billed, though not all cardholders will be eligible for an early downgrade.
However, you can always close a card for at least a month after an annual fee is billed to get a refund of the fee.
Will you be renewing your Venture X card?
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121 Comments On "Don’t Forget To Finish Spending Capital One Venture Rewards Credit Card X Travel And Vacation Rental Credit, Be Aware Of Capital One Downgrade Quirks"
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Absolutely it’s one of my favorite cards
Anyone have any tips on how to use the $300 travel credit and the Airbnb credit without actually traveling? Thanks.
Book something that’s refundable?
Which airlines let you refund credit to account?
is that the $129 option to add to a flight? I think they call it “Cancel for any reason”. Not seeing where to directly book a refundable fair.
just booked a refundable rental car for $302, let’s see if it triggers i’ll post back when it does
credit posted!
I haven’t cancelled the rental yet, is it safe to do so right away!?
@Dan any data points?
Thanks.
Book refundable hotel through Cap1 portal.
Which hotel is refundable and how’d you do it?
Confirmed that it triggers?
you can book a refundable car rental
Confirmed that it triggers?
worked for me!
I put my own place on Airbnb.
Just make sure to select the option that you have to confirm every booking, otherwise someone else might show up at your house.
Where can you check if you are eligible for the $200 Airbnb credit?
Simple, if you got the 100k sign up bonus offer you’re eligible, if you got the 75k you’re not
I got the 100k bonus, but it doesn’t show the $200 credit in my benefits
you can call and ask
they will tell you till when you have it…
@Dan
Is there a way to get gift cards for any of the vacation rental places in order not to lose out on the $200 credit
“It’s worth noting that vacation rental gift cards do not trigger the Capital One $200 vacation rental credit unless the transaction is processed directly by the merchant and not the third party. For example, Airbnb gift card purchases are processed through Launching Gift Cards merchant, and therefore any Airbnb gift card purchases will NOT trigger the Capital One vacation rental credit.”
Annoying to have to spend the $300 on the capital one portal
Indeed, this is the hard part
Agreed.
Annoying, overpriced and extremely limiting options
Still haven’t been credited for my Airbnb stay in August. Called but they said stay patient for 2 to 3 billing cycles. It’s frustrating to lay out the $200.
Same here.
The Airbnb credit is indeed very slow.
I got mine a few days after paying my rent with the card last year. Wasn’t even expecting to get it so easily
Can u please tell me will the $200 credit work if I buy a gift card from Airbnb
Should I be worried that the credit won’t arrive before the AF posts?
We each spent $200 on Aug 5 on both are Venture X cards and still waiting.
We signed up for the card 11/9/2021
It’s been more than 3 months for me and didn’t receive it. I called them and they processed it manually for me.
I was charged for Airbnb on March 21 and the credit posted on March 25.
Same here.
likewise, airbnb charge posted in aug, still no credit yet, called and was told to be patient as well
What was so frustrating?
When will the 10,000 miles post?
I’d assume after the annual fee is billed.
They also don’t allow downgrades till the 2nd AF posts, which basically means you need to keep it for at least 2 years if you don’t want to cancel.
Also, if you cancel 31+ days after the AF posts, you won’t get any refund.
Neither of those statements are true.
There have been reports of successful downgrades before the AF.
And they allow more than 30 days in my experience. Something around 45, but call and ask for your account.
Both statements were based on personal experience of multiple HUCAs. I called on day 32 and they wouldn’t budge.
YMMV I suppose.
“ You can pay yourself back at 2% for travel spending made anywhere.” That means that if charge a $200 flight directly with an airline, I pay myself back the same 2% that I got for spending or is it more than that? Seems like a simple cash back.
whats the signup bonus now?
75K
Can you use the $200 Airbnb credit to buy a digital gift card?
I Booked at Arizonakosherresorts.com last august and I got the 200 Airbnb credit shortly thereafter
If you book on Capital One through the portal, you get 10% on travel. Now if you have a choice to book with points or pay for the reservation and then redeem dollar for dollar are you not way ahead by first paying for it, getting the 10% instead of booking with points?
Booked via Airbnb a few weeks ago with no credit yet. Will you still get the credit if you cancel the card before it hits? Worried about needing 2-3 statements as I don’t want to keep this card another year.
After having this card for almost a year……
Bottom line is..this card ain’t no Amex!
I called earlier today and they let me downgrade to the quicksilver cash rewards card even though it’s been less than a year (just over 11 months) since I got the card and my second AF hasn’t posted yet
what about the AF refunded?
Hey dan thats a good idea you can mention in this post is to downgrade before second AF posts and then you dont have to worry about second AF
Well, yes. That’s why I wrote about that.
Not everyone will be eligible, but call and find out.
“While you may be eligible for a downgrade to Capital One VentureOne (no annual fee) or Capital One Venture ($95 annual fee), you won’t get a refund of the $395 fee once the fee has been billed to your account. Most other banks allow a full or prorated refund for downgrading a card after a fee is billed.”
You focused mostly about trying to downgrade AFTER AF posts in which you said it is unlikely to get AF refunded. Another option is to downgrade BEFORE AF posts and then you avoid second AF.
Added a line to clarify.
great thanks!
Thanks for the reminder…I hadn’t fully spent the $300 annual credit and might’ve forgotten about it.
Will definitely be keeping the card. Annual fee is easily offset by travel credit and 10k points.
Unlimited priority pass and cap one lounge visits is fantastic. And it even includes authorized user!
They did absolutely a great job on this card very happy with it..
Any suggestions of where to book in Israel for the vacation rental credit?
Pninat Chemed (https://www.pninatchemed.com/) and Airbnb (Sfas) worked for me.
How can I figure out which vendors qualify for the $200 vacation rental credit? Are there any hotels that qualify?
Is there a way to split the bill between 2 cards so that I can spend $400 on one vacation using my wife’s card in addition to my card?
So we should be able to make use of second $300 annual travel refund before closing card?
I guess this was answered in the post?
In my account it gives me an option to downgrade my self online
Go to
1. I want to..
2. view offers an upgrades [On bottom left side]
3. explore upgrades
By me They offer venture one and quick silver .
I am personally not planning on converting this card since in my opinion the venture x is simply the best personal credit card available. Especially if your a frequent flyer so you get to use the $300 credit very easily
Thanks for this tip!
I got the same 2 options (both without an annual fee).
Thank you! I just did it online as well. Got both options also
Venture X does NOT cover car rental insurance in Israel!!
how do I know if I have the $200 air bnb credit? not sure exactly when I opened it
Dan,
We got 2 of these.
For someone who has other premium cards like multiple amex platinum cards, is it worth keeping this card a second year?
I found it hard to get $300 value with the $300 travel credit since you’re limited to book through their pretty awful travel portal.
Book a refundable car or hotel
You could always price match
They price matched me $1700 on a flight booking [Had 3 travelers in this booking]
I actually did price match. But it was pretty tedious.
It’s not only price that makes their portal bad. It would not allow me to book a lap child on Frontier but Frontier officially only allows adding at time of booking.
If you don’t know what to do with your $200 vacation rental credit, donate it to Daughters of Israel women’s Mikva in Miami. It triggered the credit on my card. mikvahmiamibeach.com
Can we confirm that. I’m sure many people including myself would do that
did that work?
Any tips to spend the 50$ Chase sapphire annual credit if I use points for my hotels?
Essentially its 20 percent off travel. 10 points per dollar spent, and you can pay yourself back at 2 percent. correct?
Pay yourself back is at 1%. You earn the points at 2%…. You should probably clarify yhat
Clearer now?
If I downgrade to the venture one, can I still use my points to transfer to partners? Or is that only available for cards with an a annual fee like Chase?
Seems like the Venture one still can transfer to partners, although the Quicksilver card cannot.
I was told that you don’t have a full 30 days to cancel from when the annual fee hits, unlike other cards, but 15 days or so. Any truth to this? Also with Airbnb $200 not posting timely, what other options are there to quickly cash that out before canceling? My Airbnb is over a month old and no credit.
Dan, I’m in the same predicament. (I didn’t even spend on airbnb yet..)
How can I cancel b4 annual fee posts and get the credit.
Please let me know if you have any suggestions.
Call them about the $200
My airbnb charge as in late August and the credit still hasn’t posted
Dan are you sure its 30 days to cancel to get full AF refund?
also $300 travel credit can be used again when af posts
Call and ask for your account.
“Plus you can transfer miles to any other cardholder”
Questions about this line…
Can you transfer actual Capital One points to another member or transfer into their linked mileage program?
Are additional users free to add?
Actual Capital One points to another cardholder.
No fee.
Thanks
How do I check how much of credit I have used?
Anyone have any experience with the capital one price guarantee.
While booking a ticket I got a message that if price drops, they will refund me up to $50.
Price dropped but I never got a refund.
I got refunded automatically once the price dropped.
Which card is better to book tickets with El AL Amex Bonvoy or Capital One Venture?
Dan, are these downgrade terms written anywhere?
Rep disagreed and said can downgrade and receive refund even after the AF posts (subject to whatever downgrade options their system offers at the time).
No. Personal experience.
So if a downgrade is important, I should simply ensure it’s done within 364 days of when the initial AF posted?
(To note, my initial AF posted on the last day of my 3rd statement, rep said they’ve never seen that happen before).
And, if I were to cancel the card before receive one of the credits (e.g. the $200 Airbnb credit) posts – there’s no way for me to get that credit?
@dan I have 150k points which airline is the best to transfer to for Israel?
@Dan do I need to take the vacation before the end of the year in order to get the $300 back or can I book for lets say January and then get reimbursed?
@Dan
Have you seen/heard about possible negative changes to VenX starting Jan 2023 ala PP experinces going the Amex path.
“Saw this statement on the Capital One Travel page in the FAQ “What is Priority Pass and how do Venture X cardholders enroll in it?”
“Effective January 1, 2023, Priority Pass non-lounge airport experiences (like dining, retail shopping and spa discounts) are not part of the Visa Infinite® benefit program for Venture X cardholders.”
Had just paid the annual fee. No way I’m going to keep the card next year because the priority pass restaurant benefit is gone.
Chipping away at benefits has begun. Priority pass $28 going away is a hit especially on west coast travel. Had this card less than a year and have loved it so far but now considering a downgrade. Bad move by capital one. Granted at lower than csr and amex plat.
Question – if I cancel this card before first renewal and get the $95 AF or other venture card –
1) is there a way to not lose unspent points?
2) can o get another sign up bonus for a second venture card? Or is there waiting period?
Thanks!
So now that venture x is getting rid of most of the good perks. whats the best move to move on from this card without affecting your credit score and getting the best out of the card?
Should I just simply downgrade to one of their free cards?
I still have miles on capital one.
Do you need to pay the second-year annual fee to access the $300 yearly travel credit? That’s what the capitol one rep is saying – anyone has success in using it before spending the renewal fee. Not sure I want to hold on to the card…
“convert cashback into miles”
Can you please explain how it’s done?
if u cancel card do u lose the points? can u transfer points to another me?mber of household?
You can transfer to anyone or any card before cancelling.
Do you keep all your points if downgrading to the no annual fee VentureOne card?
Yes
Apologies for the beginner question, but how would one “turn trips into flexible Alaska, JetBlue, or United credit that anyone can use later on”?
Thanks!
As long as you book regular economy, those airlines have options to bank the credit for future travel.
Thank you very much!
Title of the post seems to imply the $300 travel credit is per calendar year, but the post also mentions “$300 in a card membership year.” So just to clarify, as an example, if I opened my card in Oct 2023, I have until Oct 2024 to take advantage of the annual travel credit–right?
I just recieved a refund from cap one for venture x for the annual fee after downgrading.
How long after the AF posted?
do they often offer retention offers?
Do you have to just book by the expiry date or also travel by that date?
Book by.
i downgraded my card to the Quicksilver and received a full refund of my annual fee.
Did you downgrade after the fee posted? How soon after? Many say that you won’t receive a refund once the fee posts. Did the policy change?