The Capital One Venture X Rewards Credit Card rewards you with some very good perks and with this annual Capital One Travel credit, the $395 annual fee is quite easy to justify. Despite these differences, I would still choose to go with the Venture over the Capital One Venture Rewards Credit Card, which is cheaper today.

The Venture card will run at $95 per year, and there are plenty of reasons to opt for the cheaper card over its higher-end counterpart welcome offer, for one. This is my thought process.

Look at Each Card Briefly

This is the simpler of the two cards, the Venture card. It has a $95 annual fee and accrues 2x Capital One miles per dollar on all purchases, and 5x Capital One miles per dollar on hotel, vacation rental and rental car bookings through the Capital One Travel site. You also receive access to Capital One's travel partners, such as airline and hotel transfer partners, up to a $120 Global Entry and TSA PreCheck credit, and a few other travel perks.

Venture X takes things up a notch. It costs $395 per year, but includes a $300 annual Capital One Travel credit, 10,000 anniversary miles per year, airport lounge access and increased earning perks on certain Capital One Travel bookings. It gives 10x miles for hotels and rental cars, 5x miles for flights and vacation rentals through Capital One Travel and 2x miles for everything else.

• The Venture X has a premium card, which doesn't necessarily mean it's the better card for me at this time.
• The Venture Card offers a better welcome offer than the other.The other is better than the Venture Card's welcome offer.

I'd probably take the Venture card these days for the welcome offer. The cardholders can earn a 75,000 miles bonus after spending $4,000 in the first 3 months. They also receive $300 to spend on hotel and vacation rental bookings with Capital One Travel in the first year of card ownership.

With eachmileisworth1.8cents and 1,650intravelvalue per welcome offer, it is obvious that this is a great offer.TheVentureXhasearned75,000 bonusmiles from spending the same amount of money (4,000) in 3 months, which translates to $1,350 in travel.

There is the same 75,000 mile bonus and spending limit on both cards, but the Venture includes the $300 Capital One Travel credit. In other words, the card with the $95 fee is even more of a welcome offer than the card with the $395 fee. That's a good argument for my starting venture.

The Average is the Best, You Don't Know the Distance

If you're traveling a lot with Capital One Travel, the Venture X will be a good choice. The Venture gets 5x miles at hotels, vacation rentals and rental cars, which isn't as rewarding as it is through the portal.

Here is the crucial bit for me. That's essentially the only way I would use either card (2x miles on other things). The Capital One Travel Venture X isn't worth the increased price for me to use enough to offset the cost of the higher rate. I would use the card for items which don't fit the bonus categories at other cards, like at Home Depot for home improvement.The $95 Venture and the $395 Venture X have the same “miles per dollar” on that money. The other question is related to the lounge access facility: I Value Lounge Access Less Than I Used To.

I used to give a lot of importance to access to the lounge while traveling. I would show up early to just see if I saw any planes and eat before going on the air. That has changed.

It's a gorgeous Capital One Lounge and the network is continuously expanding. Capital One Lounge and Landing locations are available to the Venture X cardholder and there are over 1,300 participating Priority Pass lounges available around the world upon enrollment. This is handy if you go to lounges a lot.

These days I don't have a lot of time to sit down and chill in one though. I'd rather pass security and make my way to my gate than spend an hour in a lounge. Not only am I currently in South Florida, but my home airports in Miami and Fort Lauderdale still don't have Capital One Lounges. Plus, I already have other cards that give me access to lounges, so I don't care much if I don't have this.

The Cards Share the Same Miles and Redemption Options are the same.Both Cards Share the Same Miles and Redemption Options.

The second one is I wouldn't feel that I'm giving up much since both cards give me the same Capital One miles, and both have exactly the same redemption options. Either card can be used to do the following.

Convert Miles for Travel to Capital One Travel

• Earn miles to Capital One airline or hotel partners to redeem for flights or hotel stays.
• Earn 1 mile per dollar to redeem for qualifying recent travel purchases.

Redemption value is important to me because the majority of the time, I redeem the miles for airline partners. If you accumulate miles on a card, it doesn't matter which card they came from and they will all be added into your Capital One account. I can use the same transfer partners and options.

• Since Venture X is no longer being updated, who should continue to use it?
• The type that I choose will not suit everyone, as it is dependent on my lifestyle and travel. For those who do these descriptions, the Venture X is still a viable option.
• People who are frequent flyers and use the airport lounges regularly.
• Those who make multiple hotel and rental car bookings via Capital One Travel
• For those who won't have to struggle to use the $300 travel credit annually,
• The $300 credit and 10,000 anniversary miles might make the higher fee more than worth it to you. They don't for my habits.

The Bottom Line

The Venture X is an excellent premium travel card and the $300 annuity Capital One Travel credit pays for the $395 fee. But if I am taking the exam now I'd prefer the Venture rather than the Venture X.

The Venture is more to my liking because it has a better welcome offer, the same 2x miles on regular purchases and the same redemption options. Also, I don't care quite as much about having access to the lounge at my home airports as I did in the past, and my other cards already offer lounge access. I would prefer to pay for $95 per year, than $395 and have the Venture card now for my lifestyle.