This column is the second in a series of articles that offer insights into personal experiences with the products and services that you read about on Investopedia every day.
I write about financial products and rewards travel for a living, which makes me the de facto advisor whenever my family has questions about money. It also means that whenever a new or exciting product debuts, I pester them to take a look at the details. It’s how they’ve been able to earn top-tier American Airlines elite status, redeem American Express points for valuable flights, and maximize their online purchases with shopping portals.
So when the Capital One Venture X Business travel rewards credit card launched in September 2023, I raced to tell my parents to apply. My stepmom and dad own a small business that remodels hotels, which means they have a significant amount of monthly business spending. This includes purchases for materials, rent, travel, payroll, and more. So a credit card that offers more rewards and a smaller annual fee was perfect for them.
My Parents Have an American Express Card, But Capital One Offers Them Better Rewards
Switching credit cards meant we first had to compare my parents’ current business credit card to this new one from Capital One.
For years, the Business Platinum Card from American Express has been my parents’ go-to business credit card. It makes sense: The card earns 1.5 American Express Membership Rewards points per dollar spent on eligible construction purchases (among other specific categories) and on any charges of $5,000 or more on the first $2,000,000 spent on those purchases each year.
The Amex Business Platinum also earns 5 points per dollar spent on flights and prepaid hotels via Amex Travel and 1 point per dollar on rental cars. This means