Editor's note: After publication, Capital One reached back out to clarify that the Hertz President's Circle status benefit could eventually be extended, though it is still scheduled to end Dec. 31, 2024.
Capital One made a splash with the debut of the *venture x* back in 2021. A premium travel rewards credit card with benefits and perks worth more than its middle-of-the-road $395 annual fee? It seemed too good to be true.
So far, Capital One has resisted the urge to hike the card's annual fee in favor of trimming back benefits. Just last year, we saw the bank remove access to Priority Pass Restaurant and devalue the card's $300 travel credit. Now we know the next benefit set to get the axe: Complimentary Hertz President's Circle status.
With Hertz President's Circle status, you get perks like a guaranteed vehicle upgrade, access to Hertz's Ultimate Choice lot, and the ability to add an extra driver for free. It's a nice set of benefits that turn the Venture X into a must-have card for anyone who regularly rents vehicles.
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But those perks won't be available for much longer. Buried in the card's terms and conditions you'll find the following: “Upon enrollment, eligible cardholders will remain at that status level through December 31, 2024, at which point they will be reverted to the level commensurate with Hertz standard usage policies.”
A Capital One spokesperson confirmed to Thrifty Traveler that the Hertz President Circle status benefit is currently set to go away for Venture X cardholders at the end of the year. As news of that change spread, Capital One subsequently reached out to add that benefit could eventually be extended.
While losing a benefit like this is sure to change the Venture X Card's value proposition, it isn't enough for us to write the card off altogether.
So long as you plan to spend $300 on some combination of flights, hotels, and rental cars each year, the card's annual fee is more like $95. Once you factor in the 10,000 bonus Capital One Venture Miles (worth a minimum of $100 towards travel) you get each year for renewing your card, you've more or less covered the card's entire $395 annual fee.
When you add in all the other benefits like airport lounge access, Premier Collection hotel benefits, and top-notch travel protections, we think holding this card is a no-brainer – even if you only travel a handful of times each year.
Whether or not the card will always be worth it remains to be seen. It's becoming increasingly clear that this card simply offers too many benefits at its current price point to be sustainable long-term. But for now … we're all in on the Venture X and think you'd be hard-pressed to find a better value travel rewards credit card than the Venture X.
Wondering whether to renew your Venture X Card or not? Read this!
Effective Dec. 31, 2024, Capital One Venture X Cardholders will lose complimentary Hertz President's Circle status as a benefit.
Unless you highly value Hertz status, this shouldn't be reason enough to cancel your card – but it does sting, nonetheless.