In September 2023, Capital One changed how the travel credit works. The travel credit is no longer applied as a statement credit, but rather is granted as a discount for bookings through Capital One Travel.
The Capital One Venture X card offers an annual $300 travel credit, good toward purchases made at Capital One Travel. This benefit largely offsets the $395 annual fee of the Capital One Venture X card, making the card one of the best value high-end travel credit cards.
About the Capital One Venture X card
The Capital One Venture X Rewards Credit Card offers access to airport lounges at an affordable price. And with its $395 annual fee, it is one of the most affordable cards offering lounge access.
The card’s rewards structure is simple. It offers two points per dollar on all spending, plus bonuses for booking travel through Capital One Travel. Cardmembers get 10x miles on hotels and car rentals and 5x miles on flights when you book through Capital One Travel. On each cardmember anniversary you’ll also get 10,000 bonus miles.
For the frequent traveler, the Capital One Venture X Rewards Credit Card offers a $300 annual travel credit, good toward bookings with Capital One Travel, plus essential travel protections like trip delay reimbursement, primary auto rental collision damage waiver insurance, and lost luggage reimbursement.

Apply for the Capital One Venture X Card and earn 75,000 bonus miles once you spend $4,000 on purchases within the first 3 months from account opening.
September 2023 changes to the travel credit

In September 2023, Capital One changed how its travel credit is awarded. Prior to September 2023, the travel credit came as a statement credit within a few days after an eligible Capital One Travel purchase posted to your account. Going forward, the travel credit comes in the form of a discount that you’ll receive when you check out with Capital One travel.
This is just my speculation, but I believe that the reason they did this was to prevent abuse of the travel credit. Previously, when you booked a refundable hotel reservation with the portal and received a credit, you could cancel your reservation and retain your statement credit. Obviously, Capital One doesn’t want this…the bank no doubt receives a generous commission on bookings through its travel portal that partially offsets the cost of the travel credit.
How to use your travel credit
To use your Capital One Travel credit, you must book your reservation from Capital One Travel. Unlike some other travel credits offered by cards like the Chase Sapphire Reserve or the U.S. Bank Altitude Reserve, the credit is offered as a discount toward bookings through the bank’s travel portal. Capital One Travel offers flights, hotels, and rental cars at prices similar to what you could expect when you book directly.
Booking through the travel portal is easy and works much like booking a hotel through any other online travel agency, like Expedia or Orbitz. Capital One Travel is powered by Hopper.

One downside to booking hotels through the Capital One Travel portal is that you typically won’t earn points in the hotel’s loyalty program or enjoy any elite benefits during your stay. If you’re chasing elite status or looking to take advantage of perks like upgrades, free breakfast, or welcome amenities, know that you’re unlikely to get these benefits when you book through Capital One Travel.
On the other hand, airlines car rental companies will allow you to earn points and enjoy your elite status benefits on third-party bookings. If you’re concerned with earning points on your Capital One Travel bookings, it might be best to stick with airline and hotel bookings.
Apply the credit at checkout (new in September 2023)
If you want to use your Capital One travel credit, you’ll need to make sure that the box under the section “Apply travel credits” is selected when you checkout. You’ll see the amount of currently available travel credit that you can apply to your reservation. Once you’ve opted to apply your travel credit to your reservation, your total will be updated to reflect your travel credit discount.

Receiving the credit (prior to September 2023)
Other than booking through Capital One Travel, you don’t need to do anything to receive your travel credit.


Within a few days after your charge from Capital One Travel, you’ll receive a statement credit to offset the charge, up to a cumulative $300 in credits per cardmember year. If your charge exceeds the amount of your available Capital One Travel credit, you’ll receive the amount of your available credit as a statement credit.
Capital One promises that you’ll receive the credit in your account within 1-7 business days.
Capital One will also send you an email letting you know that the credit has been posted to your account. The email you receive will show you the amount of your remaining travel credits.
Travel credit issue date and anniversary
Your Venture X travel credits will be issued on your account anniversary date and will expire at the next account anniversary. You must book your travel by your travel credit’s expiration date, but you don’t need to travel by then. If you cancel a reservation you made using your travel credits, your travel credits will be returned to your balance and will be available for future bookings as long as they are not expired.
Frequently asked questions
No. The Capital One Venture X travel credit only applies to bookings done through Capital One Travel.
The Venture X comes with a $300 annual travel credit, good toward bookings made with Capital One Travel.
The Venture X travel credit resets on your cardmember anniversary.
No. The Venture X travel credit is granted as a discount toward purchases on the Capital One Travel portal. This changed in September 2023.
Prior to September 2023, it was possible to cancel a reservation and retain the statement credit you had received. This is no longer possible as the travel credit is awarded as a discount on a Capital One Travel purchase. If you cancel a reservation that you booked using a travel credit, the amount of the travel credit will go back into your available travel credits.
You can use your Venture X travel credits across multiple purchases with Capital One Travel. If your booking is less than your available travel credits, you will retain the unused portion of your travel credits for future bookings.