That’s why Venture X and Amex Gold are the only 2 cards in my wallet

Like most TPGs, I’ve been absorbed by credit cards with annual fees, but when I’m out and about, I only use two credit cards in my day-to-day life.

Capital One Venture X Credit Card and American Express® Gold Card are my top picks. So what about these credit cards that I keep loyal to? Let’s dive into the reasons.

Say goodbye to 1 point per dollar

Capital One made waves when it launched Venture X in late 2021. The issuer has incorporated many advantages of the best travel Platinum Card® from American Express and the Chase Sapphire Reserve® all on a card with the lowest annual fee of $395 per year.

Venture X earns 2 direct Capital One miles per dollar spent on most eligible purchases. That’s a 3.7% return on Capital One miles in TPG’s August 2024 rating. You’ll also earn 5 Capital One miles per dollar on flights and 10 miles per dollar on car rentals and hotels — but you must book through the portal Capital One Travel to get these bonuses.

I tend to use my Venture X on daily segments that historically don’t earn more than 1 mile per dollar. Examples include pharmacy and home improvement stores and auto repair costs.

Aside from these purchases, most of my spending and going out is also from grocery stores and restaurants. Amex Gold earns 4 Membership Rewards points per dollar at US supermarkets (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 each)— an impressive 8%. return with Amex points based on TPG rates for August 2024.

By using Amex Gold for grocery and dining purchases and Venture X for everything else on the go, the days of 1 point per dollar spent are behind me.

Related: Best credit cards

Annual fees

Capital One Venture X comes with an annual fee of $395. I know what you’re thinking— well.

While no one likes paying annual fees, for me, the benefits of Venture X more than justify the annual fee. You can check out the full list of benefits, but here are my favorites (and a dollar amount of how much I value each one):

• Credit: $300 annual credit for bookings made through Capital One Travel ($300).
• Birthday bonus: 10,000 bonus miles every account year, starting on your first day ($185).
• Access to the lounge: Easy access to Priority Pass and Capital One lounges ($150).
• Authorized users: More authorized users can be added for free; same guest access as a Capital One Lounge and Priority Pass cardholder ($100).

I value these four benefits more than $700, which clearly covers the annual fee. Other notable card benefits include cell phone and travel protection in addition to up to a $100 Global Entry or TSA PreCheck payment credit.

Amex Gold has an annual fee of $325 (see rates and fees), the following are my top benefits:

• Up to $120 annual dining statement credit: Earn up to $10 in monthly statement credits when you pay with an Amex Gold Card at participating food partners, including Grubhub, The Cheesecake Factory, Goldbelly, Wine.com, and Five Guys. Registration is required.
• Up to $120 a year in Uber Cash: Earn up to $10 in Uber Cash every month with Uber Eats and Uber rides in the US You must add a card to the Uber app to receive Uber Cash benefits. Registration is required.
• Up to $100 in annual Resy credits: Earn up to $50 twice a year in statement credits when you pay with your Amex Gold at participating Resy restaurants. Registration is required.
• Up to $84 in annual Dunkin’ credit: Earn up to $7 in monthly statement credits when you pay at Dunkin’ with your Amex Gold. Registration is required.

I value these benefits more than $400, which is more than paying the annual fee, so I come out “green” like I did with Venture X.

Related: The complete guide to annual credit card payments

There are no foreign transaction fees

This is simple, but worth pointing out. None of these cards have foreign transaction fees, which is important to me. Most merchants don’t accept Amex overseas, but Visa offers 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 give that up, the Venture X is a solid way to get out of the country.

Related: The best cards with no foreign transaction fees

Important transfer partners

Now for the fun part: using your credit card points.

Last year I transferred 63,000 Capital One miles to Etihad Guest to fly to Australia on American Airlines Flagship First. The cash rate for these fares usually retails for over $10,000, which represents a very good value for my miles.

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

After that latest release, I’m now working on building up my Amex point balance. I intend to redeem 55,000 points for a one-way flight in ANA’s new first class to Japan. To book this award, I will check and confirm award space and transfer points to Virgin Atlantic Flying Club, which offers this redemption of preferred destinations.

For more inspiration, check out our guides to maximizing Capital One miles and American Express membership rewards points.

Related: How (and why) you should earn transferable points

Bottom line

As two of the top 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 almost everywhere. (I use a cobranded hotel card when I stay at a hotel, but I’ll only carry one if I know I’ll need it.)

With some cards, you might earn an extra point or two at the gas station or on an Uber ride. However, the simplicity and generous earning rates of these two cards make the perfect combination for my wallet.

For more details, read our full reviews on Venture X and Amex Gold

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Apply here: Amex Gold

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For Amex Gold rates and fees, click here.

For the Capital One products listed on this page, some of the benefits may be offered by Visa® or Mastercard® and may vary by product. See the appropriate Benefits guide for details, including applicable terms and exclusions.