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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Read our full review of the Capital One Venture X card!
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!
Bottom Line
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.
The only value Presidents Circle has for me is the status match for other companies
The terms back in 2021 stated this ended in 2024. It’s not like they would have negotiated a date infinitely in the future. They will likely renew or try to strike a deal with a competitor.
I’ve had the Venture X since launch and have never used the Hertz President’s Circle perk. Initially the Capital One Travel Site didn’t even let you add your Hertz profile so you didn’t get the benefit when trying to earn maximum rewards miles. Every time I needed to rent a car, Budget/Avis or Sixt were less expensive for a better/bigger vehicle. Sixt will even status match to President’s Circle now.
I have enjoyed the Venture X for a few years now but lately I am getting frustrated when it comes to using the $300 credit on their travel portal. Often times their prices are much higher on the portal versus if you book travel directly through the airline or through the hotel. They say they price match but I feel that they make it difficult to do so. I also don’t travel to the destinations where they have their lounges to take advantage of that benefit either. I think I will reconsider this card upon renewal.
I’ll never, ever rent from Hertz! They’ve arrested people at gunpoint for supposedly stealing cars, that they’ve had in their possession. Good riddance, Hertz!!
I rented from Hertz once forty years ago. Today they are still my last choice.
I’m more peeved by people telling me that such-and-such card is “free” because of the credits. Yeah, I spend $200 a year for travel, but I would never consider buying plane tickets or renting cars from the C1 portal. I only consider them for hotels because they already have my money and that’s the only way I can get it back. Last time I bought a stay from the C1 portal, the hotel walked me when I tried to check in. They do that again, I might well give up my C1 points and tell them to go jump off a high place.
Anyway, I know what I personally get for my annual fee. I don’t need somebody to shill for the bank.
Losing Hertz is an upgrade trust me.
I’m fine with them removing it as long as they don’t raise the annual fee. I use more Turo than rental car places anyway.
I still have my Chase SR, so is it worth it to hang on to my Venture X along with CSR? My Venture X annual fee just kicked in last week and I have less than 30 days to decide.
I contacted Hertz and got my account closed completely. I don’t want their idiotic system to flag me for stealing a car and have me arrested and imprisoned. I am delighted that my association with CapitalOne no longer carries any association with Hertz. When I am certain they are no longer having customers arrested for their own car tracking ineptitude I may reconsider, but it will be a while
Never used that benefit. Hertz has become a terrible rental car company (since bankruptcy). Even Fox is now often better (depending on the airport).
Hertz is a truly terrible company. Just google the people they’ve had falsely arrested, and those accused of car damage. IMO, never, ever rent a car from them
Yes, I do value the Hertz President club. These cards pull you in and always start taking away. I would prefer you go up $5-10 vs taking away great benefits. This stucks!
The hertz presidents circle was one of the reasons I kept it. I guess back to Sapphire Reserve exclusively at end of this year for me.
I’ve had the card nine months and that end date for the Hertz benefit has been a part of the terms since the beginning.
The problem with the Venture X is the weak bonus spending of 2x. The Citi Double Cash, Wells Fargo Autograph and Amex Blue Business Plus offer 2X on all spending, transferable points and no annual fee.
The Venture X only offers amenities like the car rental status and Priority Pass. Capital One gutted the restaurant access and is eliminating car rental status.
Capital One needs to provide consumers a reason to tolerate their poor customer service. If Cap One keeps an annual fee, Capital One should raise the bonus on spending to 3X.
I wouldn’t rent from Hertz under any circumstance. Honestly, it’s better for Capital One to not be associated with such a terrible company.