Here’s Why Venture X and Amex Gold Are the Only 2 Cards in My Wallet

Like many other TPGers, I’ve been sucked into credit cards with annual fees, but when I’m on the go, I only use two in my day-to-day life.

The Capital One Venture X Rewards Credit Card and the American Express® Gold Card These are my top picks. So, what makes me stick with these credit cards? Let’s dive into the reasons.

Goodbye to 1 point per dollar

Capital One made headlines when it launched Venture X in late 2021. The carrier combined many of the premium travel benefits of The Platinum Card® from American Express and Chase Sapphire Reserve®, all in one card with a much lower annual fee of $395 per year.

The Venture X earns 2 simple Capital One miles per dollar spent on most qualifying purchases. That’s a 3.7% return on Capital One miles as of TPG’s August 2024 valuation. You’ll also earn 5 Capital One miles per dollar on flights and 10 miles per dollar on rental cars and hotels, but you must book through the Capital One Travel portal to earn these bonuses.

I often use my Venture X for everyday categories that historically don’t earn more than 1 mile per dollar. Examples include drugstores and home improvement stores, as well as car maintenance expenses.

Outside of those purchases, the majority of my spending outside of the home comes from grocery stores and restaurants. Amex Gold earns 4 Membership Rewards points per dollar at U.S. grocery stores (up to $25,000 per year, then 1 point per dollar) and restaurants (up to $50,000 in purchases per calendar year, then 1 point per dollar)—an impressive 8% return in Amex points based on TPG’s August 2024 valuations.

By using the Amex Gold card for groceries and restaurant purchases and the Venture X card for everything else, the days of earning 1 point per dollar are long gone.

Related: Best Credit Cards for Travel

Justifiable annual fees

Capital One Venture X has an annual fee of $395. I know what you’re thinking: ouch.

While no one likes to pay annual fees, in my case the benefits of Venture X more than justify the annual fee. You can refer to the full list of benefits, but here are my favorites (and a dollar figure for how much I value each):

• Credit: A $300 credit per year for bookings made through Capital One Travel ($300).
• Anniversary Bonus: 10,000 bonus miles for each account opening anniversary, starting with the first anniversary ($185).
• Lounge Access: Complimentary access to Priority Pass and Capital One lounges ($150).
• Authorized users: Additional authorized users may be added at no additional cost; same guest access as cardholder for Capital One Lounge and Priority Pass ($100).

I value these four benefits at over $700, which definitely makes up for the annual fee. Other notable card benefits include cell phone and travel protections, as well as up to $100 credit toward Global Entry or TSA PreCheck fees.

The Amex Gold card has an annual fee of $325 (see rates and fees), and my main benefits are as follows:

• Annual dining credit up to $120: Earn up to $10 in monthly credit when you pay with your Amex Gold Card at participating restaurant partners, including Grubhub, The Cheesecake Factory, Goldbelly, Wine.com, and Five Guys. Membership required.
• Up to $120 in Uber Cash annually: Earn up to $10 in Uber Cash per month for Uber Eats and Uber rides in the U.S. You must add your card to the Uber app to receive the Uber Cash benefit. Enrollment required.
• Up to $100 in annual Resy credits: Earn up to $50 every two years in statement credits when you pay with your Amex Gold at a Resy participating restaurant. Membership required.
• Up to $84 in annual Dunkin’ credit: Earn up to $7 in monthly credits when you pay at Dunkin’ with your Amex Gold. Membership required.

I value these benefits at over $400, which more than covers the annual fee, so I’m as “green” as I am with Venture X.

Related: The Complete Guide to Credit Card Annual Fees

No foreign transaction fees

This is an easy question, but it’s worth pointing out. None of these cards have foreign transaction fees, which is important to me. Many merchants don’t accept Amex abroad, but Visa issues the Venture X, a more reliable bet (see Amex Gold rates and fees).

Compared to the Venture X, the Chase Sapphire Reserve earns an extra point for dining and travel. However, if you’re willing to forgo that, the Venture X is a solid choice when traveling abroad.

Related: Best Cards With No Foreign Transaction Fees

Valuable transfer partners

Now comes the fun part: redeeming your credit card points.

Last year I transferred 63,000 Capital One miles to Etihad Guest to travel to Australia in American Airlines Flagship First. The cash fare for this fare typically sells for over $10,000, which is excellent value for my miles.

But the fun doesn’t stop there. In November, American Express offered a 25% transfer bonus with Air France-KLM Flying Blue. Transferring just 52,000 Amex points allowed me to book a one-way flight from Adolfo Suárez Madrid-Barajas Airport (MAD) to Los Angeles International Airport (LAX) in business class with Air France.

After those recent redemptions, I am now working on increasing my Amex points balance. My goal is to redeem 55,000 points for a one-way flight in ANA’s new first class to Japan. To book this award, I will search for and confirm award space and then transfer points to the Virgin Atlantic Flying Club, which offers this popular sweet spot redemption.

For more inspiration, check out our guides on how to make the most of your Capital One miles and American Express Membership Rewards points.

Related: How (and Why) You Should Earn Transferable Points

In conclusion

As two of the best rewards credit cards out there, the Venture X and Amex Gold are great cards to keep in your wallet. I use my Amex Gold at restaurants and grocery stores and my Venture X pretty much everywhere else. (I use a co-branded card for hotel stays, but I only carry one when I know I’ll need it.)

With other cards, you might earn an extra point or two at gas stations or on Uber rides. However, the simplicity and generous earning rates of these two cards make for a perfect combination in my wallet.

For more information, read our full reviews of Venture X and Amex Gold

---

Apply here: Amex Gold

---

To learn about Amex Gold rates and fees, click here.

For Capital One products listed on this page, some benefits may be provided by Visa® or Mastercard® and may vary by product. See the respective Benefits Guide for details, as terms and exclusions apply.