Capital One is eliminating non-lounge airport facilities from Venture X Priority Pass cards effective January 1, 2023. This follows a similar move by American Express in summer 2019.
As a result, Capital One Priority Pass cardholders will not longer be able to swipe their cards for $28 credits at participating restaurants. Chase, by contrast, will still cover restaurant swipes for their Sapphire Reserve cardmembers. I’ve reached out to Chase regarding any potential future changes.
According to Capital One,
We are always focused on offering the best products to our customers, and ensuring they include the most compelling benefits. At a $395 annual fee, Venture X continues to be a no brainer; the card offers up to a $300 annual credit for bookings made on Capital One Travel, 10,000 bonus miles every account anniversary (equal to $100 towards travel), and unlimited access to Capital One Lounges and Partner Lounge Network.
In addition to our Capital One Lounge at DFW, we are growing our network with lounges forthcoming in DEN, IAD, and LAS, and beginning to construct our recently-announced Capital One Landings at DCA and LGA. These lounges will also be available to Venture X customers.
Bobby Van’s New York JFK Terminal 8
Bobby Van’s New York JFK Terminal 8
Priority Pass makes money with each card swipe, and figured out that where they can’t offer a lounge they can still get card swipes by paying in-airport restaurants and other activities. That’s great for cardholders and for Priority Pass revenues, but not great for the bottom line of banks who are covering the tab.
Still, on net Capital One Venture X provides more lounge access than it did when the product launched, even after this change. They’ve added access to Plaza Premium Lounges, as well as U.S. Virgin Atlantic lounges, the Air France Lounge Montreal, and the MERA Business Lounges at Cancún and they’ve announced more of their own lounge pipeline. There are about 140 Plaza Premium lounges and only around 70 Priority Pass restaurants.
Ultimately I view the card as clearly ‘worth it’ despite this change – the card’s $395 fee is offset by an annual $300 credit for bookings through their travel portal and 10,000 miles at renewal. Their DFW lounge is better than anything else at the airport, in my opinion, outside of Flagship First Dining. And the points are super valuable, it remains my go-to card for otherwise-unbonused spend. Still, the change is disappointing.
Nearly three years ago, Capital One announced a lounge at IAD. Still no lounge.
I feel like bloggers gave too much of a free pass to CapOne on the whole “transfergate” situation. I used my VentureX card for every non-bonused category before it happened, but now rarely use it at all.
To me, it’s in the same category as a bank (or exchange) freezing withdraws. We all know that it wasn’t a “tech upgrade” but they’ve never really adequately addressed it. And candidly, bloggers compensated by them never appropriately held their feet to the fire.
I’m surprised that they let it go on so long, to be frank. The card seems unsustainable in the long-term with all of the benefits we get.
Still a great card that anyone who travels should get.
No arguments for the value but I might go back to the Sapphire Reserve just for the restaurants. I appreciate lounges but often they feel just as crowded as the rest of the terminal.
What a Scrooge move to do with barely any advance notice. And it’s worse than a Grinch move to not grandfather in the benefit until the next annual fee for the card is due.
If Capital One says it’s a no-brainer, who are we to argue?
Welp. I’m out. At best, this is a “break even” card. Their travel portal sucks anyway and was really only marginally worth using for the $300 rebate which I never booked far out travel with due to the likelihood of a schedule change and OTA’s absolutely incompetence when it comes to re-issuing and re-ticketing itineraries. They have one lounge, ONE. They’re back to where they were in their non-advantage over AXP…..and with 29 days notice too……Capital One always was a shitty bank and I haven’t done business with them in the last 20 years…..except for getting the Venture X last month. Its going in the basket along with the BofA Alaska Visa
I think my wife and I have seven cards offering some level of Priority Pass. The overlap is a waste. And, it has been years since we’ve used any PP benefit. It would be nice if a card like the CSR (or any other) would be offered with the same rewards structure without PP for a lower annual fee and make PP a for-fee add-on for those who want it.
First the lack of Uber benefits when they hustled to make that partnership work for other cards.
Then carving the card out of Avelo cross promo.
Now this.
I’m beginning to think this card is being left to die on the vine
@ Jimmy Chonga — Why WOULDN’T “TransferGate” have been a technical problem? You apparently needed to make a trasnfer amd werent able to in a timely manner, but I hardly think this was a broad conspiracy to ripoff customers.
It’s great that they want to build these other lounges but they are either not open yet or at airports I don’t fly. Meanwhile the restaurant benefit is something I can actually use on occasion. And I appreciate this benefit when there is either no lounge available or the food at the restaurant is just better than at the lounge (no need to visit the lounge).
They should raise the fee if it’s such a problem. Don’t think they understand how this severely devalues the Cap One X and makes the Chase Sapphire Reserve feel like the real standout card,
Less than 30 days notice is the height of thoughtlessness. Venture X has precisely one Capital One lounge world wide. Restaurant access was the only meaningj.ful benefit they offered. Lots of no annual fee 2% cards from banks with much better service than Capital One.
I did notice a sign for the future Capital One lounge at IAD yesterday just past TSA Precheck.
That’s a disappointing move. Capital One needs to get off their a** and open the lounges they’ve been teasing for over a year at IAD. The loss of Priority Pass restaurants leaves Venture X cardholders with a few lounge options at IAD but zero options at DCA (at least until they open the Capital One Landing, but don’t hold your breath, lol).
The Venture X is still worth keeping, but further erosions of benefits will take its toll on cardholder numbers, I’m sure.
A direct result of airport employees who sign up for the card to get free lunch every day. The lounges typically require a boarding pass so less abuse. Chase must not care as much or think the benefit is a requirement since they don’t offer any other exclusive lounges.
Keep in mind that the travel and anniversary bonuses only mean something if they actually pay them, which so far has not been the case despite calls to customer service. Sapphire Reserve is more expensive, yes, but they deliver on the benefits, the travel credit isn’t tied to their portal, and their travel partners are superior. Any point you want to transfer that you earn with Venture X can be earned with any other card – except maybe Finnair.
Capital One Venture X is guilty of bait and switch by cancelling the restaurant benefit midway in our membership year. I called and insisted they reimburse me for the reduction in benefits. After being directed to a supervisor I was finally issued $100 credit.