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In this Capital One Venture vs Amex Platinum comparison, we’ll look at the pros and cons of each, as well as the exciting bonus offers available, to help you determine which is the better fit for you in 2024.
75,000 bonus miles: Capital One Venture Rewards Credit Card
80k Bonus With The Platinum Card® from American Express
So you’re trying to figure out if you should play it safe and get the Capital One Venture Rewards Credit Card or reach for luxury with The Platinum Card® from American Express. Both cards are great not only for earning rewards, but also come with several perks that are exclusive to cardholders.
Terms apply to American Express benefits and offers. Enrollment may be required for select American Express benefits and offers. Visit americanexpress.com to learn more.
Capital One Venture vs Amex Platinum
The Capital One Venture Rewards Credit Card earns a flat unlimited 2x miles per $1 on purchases. However, earn 5x miles on hotels and rental cars booked through Capital One Travel. That means if you go out for dinner, hit the shops for new shoes, stream a film, and even pay for an online purchase while abroad with your Venture Rewards card, all of those purchases will earn 2x miles. You don’t have to activate categories or do the math to see what rewards will go where.
Meanwhile, The Platinum Card® from American Express is a premium travel credit card. It earns up to 5x Membership Rewards® points per $1 spent on select travel purchases and has several premium travel benefits. Earn 5x Membership Rewards® points on prepaid hotels booked with American Express Travel. Also, earn 5x Membership Rewards® Points for flights booked directly with airlines or with American Express Travel up to $500,000 on these purchases per calendar year.
Note that if you want to compare a premium Capital One travel card offer with the Amex Platinum, check out our detailed review of the Capital One Venture X Rewards Credit Card vs The Platinum Card from American Express.
Let’s see what these cards have to offer.
Capital One Venture vs Amex Platinum: Earning Points
While both cards are considered some of the best travel rewards cards to have in your arsenal, they are also good to earn on everyday spending.
The Capital One Venture Rewards Credit Card earns at least 2x miles on every purchase. Earning at least 2x miles on everything is easy. There are no bonus categories to calculate, and you don’t have to worry about any limits. However, earn 5x miles on hotels and rental cars booked through Capital One Travel. You can learn more about how to get the most out of this card in this in-depth Capital One Venture Rewards card review.
The Platinum Card from Amex earns in several categories:
- Cardholders earn 5x Membership Rewards® Points for flights booked directly with airlines or with American Express Travel, up to $500,000 on these purchases per calendar year
- 5x Membership Rewards® points on prepaid hotels booked with American Express Travel
- 1x points for everything else
It’s easier to maximize daily spending with the Venture Card. But if you’re a frequent flyer, the Amex Platinum earns double the points than most travel rewards credit cards (which is why it’s one of the best credit cards for travel miles).
Similarly, if you want to learn more about the different ways to earn points and how you might maximize them, the in-depth American Express Platinum review is a good place to start.
Verdict: The Platinum Card® from American Express
Redeeming Points/Miles
For both cards, your points/miles are most valuable when redeeming for award travel. But both cards offer varying redemption options. Your preferred redemption option and the additional card benefits are probably the two most important factors in knowing which card is the better fit.
Capital One Venture Rewards Credit Card
You can redeem Capital One Venture miles by transferring them or using your miles to book flights, hotels, and more. Each mile is worth 1 cent each. You can also use your miles at Amazon.com or PayPal. This is a better option if you don’t want to always redeem your points for award flights (which Amex Membership Rewards are most valuable for).
You can also transfer your miles at a 1.5 to 1 ratio (1,000 Venture miles are worth 667 airline miles). There are several overlapping partners with Amex that offer a more favorable transfer ratio. With the exception of JetBlue, the other transfer partners focus on international travel. Cardholders can transfer miles to over 15+ leading travel loyalty programs, including Capital One hotel transfer partners.
The Platinum Card from American Express
Your points are worth 1 cent each when booking award flights on AmexTravel.com but less than 1 cent for other award travel. The better option can be transferring your American Express points to the Membership Rewards airline and hotel transfer partners. Most of these partners have a 1:1 transfer ratio and include Delta Airlines, Emirates, British Airways, and Singapore Airlines.
Verdict: Varies. The Capital One Venture Rewards Credit Card is better if you prefer to redeem your points for any travel purchase.
The Platinum Card® from American Express is better if you want a 1:1 point transfer to more popular airlines and want to book award flights.
Capital One Venture vs Amex Platinum: Travel Benefits
Venture Rewards
The Capital One Venture Rewards Credit Card issues an application fee credit for Global Entry or TSA PreCheck, up to $100. You also get standard Visa Signature benefits including secondary rental car insurance.
Related: Citi Premier vs Capital One Venture Rewards
Amex Platinum
There are many Amex Platinum travel benefits. The value of these benefits alone can exceed the $695 annual fee. Plus, frequent flyers can easily use them.
Cardholders can get up to $200 back in statement credits each year on prepaid Fine Hotels + Resorts® or The Hotel Collection bookings with American Express Travel when they pay with their Platinum Card®. The Hotel Collection requires a minimum two-night stay.
Also, select one qualifying airline and then receive up to $200 in statement credits per calendar year when incidental fees are charged by the airline to your Card.
Plus, American Express has expanded The Centurion® Network to include 40+ Centurion Lounge and Studio locations worldwide. Now there are even more places your Platinum Card® can get you complimentary entry and exclusive perks.
Related: Chase Sapphire Reserve vs American Express Platinum
Other Platinum Card from American Express Benefits
There’s also a digital entertainment credit, making this card one of the best for streaming services. Cardholders can get up to $20 in statement credits each month when they pay for eligible purchases with the Platinum Card®. Enrollment required.
In addition to enjoying TSA PreCheck or Global Entry access, cardholders can also enjoy CLEAR perks. Breeze through security with CLEAR® Plus and get up to $189 back per year on your membership (subject to auto-renewal) when you use your Card.
Another exciting benefit is the ability for cardholders to get up to $300 back each year in the form of statement credits on an Equinox+ subscription or any Equinox club membership when they pay with their Platinum Card. Enrollment required.
Plus, get a $155 Walmart+ credit, which covers the cost of a $12.95 monthly Walmart+ membership with a statement credit after you pay for Walmart+ each month with your Platinum Card. The cost includes $12.95 plus applicable local sales tax.
Get the full details and learn more in our in-depth The Platinum Card from American Express review.
The annual fee is $695 (See Rates & Fees) but can be offset with the perks, which are valued at over $1,400.
Annual Fee
The Capital One Venture Rewards Credit Card has an annual fee of $95. There are no foreign transaction fees.
The Platinum Card has a $695 annual fee but no foreign transaction fees (See Rates & Fees). At first glance, this fee is high. In fact, it’s one of the most expensive credit cards you can own. But this credit card offers many lucrative travel and shopping credits as well as fringe benefits that can make the effective annual fee much lower. The perks are valued at over $1,400.
Both cards are good for international travel as well.
Verdict: Capital One Venture Rewards Credit Card
Platinum and Capital One Venture Signup/Welcome Bonus Offers 2024
Enjoy a one-time bonus of 75,000 miles once you spend $4,000 on purchases within 3 months from account opening, equal to $750 in travel, with the Capital One Venture Rewards Credit Card.
New The Platinum Card® from American Express cardmembers can earn 80,000 Membership Rewards® points after spending $8,000 on purchases on their new Card in the first 6 months of Card Membership.
Note that both cards are among the list of the best card offers.
Verdict: The Platinum Card® from American Express
Credit Score Needed
For either card, you should wait until you have at least a 740 credit score or good to excellent credit. It’s possible to get approved with a score in the low 700s. But, you may need to be a current bank member or have a high annual income to boost your approval odds.
If your score is still in the 600s, you will need to apply for a different credit card. Your best option in the Capital One family is the Capital One VentureOne Rewards Credit Card. It earns unlimited 1.25 miles on purchases and doesn’t have an annual fee. Check out our comparison of the Capital One Venture vs VentureOne for more information.
When to Go for the Capital One Venture Rewards Credit Card
The Capital One Venture Rewards Credit Card wins the Capital One Venture vs Amex Platinum battle in these instances:
- You can earn more with the 2x flat-rate purchase rewards
- Prefer redeeming your miles for travel statement credits
- The Amex Platinum travel benefits are not worth the annual fee
- Have earned the Platinum Card welcome offer in the past
This card is the better option if you are not a frequent flyer who can use the airline fee credit and lounge benefits. Having the flexibility of redeeming your points is also a huge plus.
Related: Best Credit Cards For Eating At Home (Food Delivery and Meal Kits Too!)
When to Go for the Platinum Card from American Express
Frequent flyers who visit airport lounges can use the travel credits and find the other travel perks useful, should consider getting the American Express Platinum first.
- Want to earn 5x points on select travel
- Will transfer your American Express Membership Rewards points to redeem for travel
- Can use the $200 airline fee credit and airport lounge access (enrollment required)
If you’re wondering how hard is it to get the American Express Platinum Card, you may be surprised to find that it’s not as difficult as you’d think.
Summary Amex Platinum vs Capital One Venture
The Capital One Venture and Amex Platinum are two of the best travel credit cards. Both cards earn above-average rewards and have flexible redemption options. But both cards cater to different travel habits. The most frequent travelers may get more value from the Amex Platinum because of its many benefits.
75,000 bonus miles: Capital One Venture Rewards Credit Card
80k Bonus With The Platinum Card® from American Express
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For rates and fees of The Platinum Card® from American Express, please click here.
