Latest news with #VentureXBusiness
CNBC
2 days ago
- Business
- CNBC
Travel card benefits are 'getting harder to maximize,' analyst says. What to know before you apply
As some popular travel credit cards boost annual fees and amend benefits, experts say it's time to reassess which cards — if any — merit a spot in your wallet. "Annual fees are not inherently bad; you just need to make sure that you're getting value from [the card]," said Ted Rossman, an industry analyst at Bankrate. "It's getting harder to maximize, though." In June, the Chase Sapphire Reserve card raised the annual fee to $795. That's a 45% jump from $550, its previous annual cost. More from Personal Finance:Paying for college gets increasingly difficult as tuition risesTrump's 'big beautiful bill' slashes this tax break for high earners in 2026Credit card debt reaches $1.21 trillion Other credit cards have been changing terms to access perks like airport lounges. Earlier this summer, Capital One announced that, starting in February, customers using its Venture X Rewards and Venture X Business cards — each of which have $395 annual fees — will no longer be able to bring guests to the lounges free of charge. That follows news from American Express that travelers who have an American Express Platinum card — which costs $695 a year — must spend $75,000 in eligible purchases before they can bring up to two guests to an airport lounge. Previously, there was no minimum spend and cardholders could bring up to two guests for free, according to NerdWallet. Here's how to decide if a travel credit card is worth the investment. A travel rewards card isn't likely to be a good value if you're carrying a balance from month to month, experts say. "Any interest that you owe will easily diminish the value of any of these benefits," said Sally French, a travel expert at NerdWallet. It may also be harder to pay down debt. While the average annual percentage rate for credit cards is about 20.13%, the typical rate on premium travel cards can be closer to 25% to 30%, according to Rossman. "Generally speaking, rewards cards charge higher rates," he said. You'll come across two kinds of travel credit cards. Co-branded credit cards are usually tied to specific airlines, hotels or even cruise chains, and provide benefits that are more valuable at that brand, French said. If you frequently use a specific airline or tend to stay with a certain hotel chain, a co-branded credit card may be worth it, experts say. An airline credit card, for instance, might have benefits like free checked bags, priority boarding, premium status tiers and sometimes discounts or points for spending at that airline. "It's only free check [checked?] bags on that airline," said French. "Your Southwest credit card won't get you anything on United." Some airlines belong to partnership networks such as Star Alliance, Oneworld or SkyTeam. If you're looking at a brand-specific card, see if the company has partnerships that allow you to transfer points or miles to allied brands. On the other hand, general travel credit cards are "really good for people who don't want to be married to a specific brand," as you can earn and use rewards more broadly, French said. Some travel credit cards do not charge annual fees; for those that do, the cost can range from $95 to upwards of $500 a year, per NerdWallet. Keep in mind that travel credit cards with little to no fees may not offer the same level of benefits and rewards as paid cards. Both kinds of travel cards tend to have a set of similar perks, including credits for TSA PreCheck and other pre-screening memberships, and big sign-on bonuses when you spend a certain amount of money on the card within a short period of opening it. As a frequent traveler, such benefits can help make the card fee worth the cost, experts say. To assess the benefits of the card, look at a detailed list of the perks on the issuer's website, said French. A card might charge an annual fee, but say it includes one free checked bag for you and a certain amount of guests. With just that perk, the card could pay for itself within a trip or two for a family. While some of the perks and rewards can seem enticing, it's important to consider your travel habits and lifestyle, said Rossman. Also consider what your credit habits are like, experts say. For those who do not travel often, a travel credit card without an annual fee is probably going to be the best option, said French. "You don't want to be paying an annual fee on a credit card that has benefits that you might not use," she said. If you travel frequently in a given year and typically with a specific airline, a co-branded credit card can make sense, French said. If you currently hold a card with a high annual fee, but realize you're not getting the most use out of it, you may be able to downgrade to a less expensive or free card offered by the issuer, Rossman said. Doing so will be better for your credit rather than closing out the card altogether, he said.
Miami Herald
23-06-2025
- Business
- Miami Herald
Opening date revealed for Capital One's new ‘flagship' lounge at JFK Airport
Traveling through New York's JFK Airport is now a little more luxurious, thanks to Capital One's newest lounge. The credit card company opened its "flagship" lounge location - its largest lounge to date - in JFK's Terminal 4 on June 19. Inside the 13,500-square-foot space, travelers will find modern and sophisticated areas to eat, drink, and relax, all of which are designed after iconic New York City sights, like a sleek Manhattan-themed bar and a dining area inspired by Central Park. Travelers will also find a New York bodega-style deli counter, where they can order coffee drinks from Bean & Bean Coffee Roaster, authentic New York bagels from Ess-a-Bagel, chopped salads, egg sandwiches, and more. An interactive cheesemonger experience from Manhattan-based Murray's Cheeses offers curated cheese boards and charcuterie, paired with seasonal wines and beers. Open 24 hours a day, the new lounge also offers a "midnight snack" meal service of late-night bites, which will be exclusive to the JFK location as "an ode to the city that never sleeps," according to Capital One. In terms of amenities, the flagship space will offer reservable work rooms, a parents room with bottle warmers and comfortable chairs, a shower suite with plush towels and Dyson hair dryers that can be reserved by QR code, plenty of tables, comfortable chairs, and "the most expansive tarmac views of any Capital One lounge," the company said. The lounge is located on the lower level of Terminal 4's retail hall and is open 24 hours a day. Travelers with a boarding pass for a same-day flight can enter the lounge up to three hours before departure. To receive complimentary access to the space, travelers must be a Capital One Venture X or Venture X Business card holder. Travelers with the Capital One Venture and Spark Miles cards can access the lounge at a discounted rate of $45. All other travelers can pay a $90 fee to enter the space. The JFK lounge is the fifth location in the Capital One Lounge network, which also has outposts at Dallas-Fort Worth (DFW), Washington Dulles (IAD), Denver (DEN), and Las Vegas (LAS). The company also has a single Capital One Landing lounge concept at Washington D.C.'s Reagan National Airport (DCA), and a second Landing location is coming soon to New York LaGuardia's (LGA) Terminal B. ___________ Copyright (C) 2025, Tribune Content Agency, LLC. Portions copyrighted by the respective providers.
NBC News
09-06-2025
- Business
- NBC News
Why it's getting even harder to get into airport lounges now
Airplane tickets are getting cheaper, but it's getting more expensive to bring your family to an airport lounge. Capital One is the latest company to limit access to booming airport lounges to combat overcrowding. Starting Feb. 1, Venture X and Venture X Business cardholders will no longer be able to automatically take a guest into lounges or bring authorized second card users. They will instead have to pay $125 annually for each additional cardholder to keep their lounge access, $45 per adult guest per visit and $25 per guest 17 or younger. The $125 fee also includes second cardholder access to a network of Priority Pass lounges. 'As airport lounges continue to grow in popularity across the industry, we've seen our customers increasingly encounter wait times to enter them,' Capital One said in a statement. 'It is important to us that we maintain a great airport lounge experience for our Venture X and Venture X Business customers, while continuing to deliver best-in-class premium travel cards at an accessible price point.' Primary cardholders will have to spend at least $75,000 per calendar year to bring up to two complimentary free guests to Capital One lounges and one guest to Capital One Landings, smaller lounges built for travelers who tend to spend less time at the airport, like those heading to short flights. The $75,000 spending requirement for complimentary guests matches what American Express announced two years ago, also a measure to minimize crowding and keeping the clubs feeling exclusive. Credit card companies have ramped up their airport lounge networks in recent years, opening new locations to handle demand. And airport lounge access has been a central perk attached to rewards cards, which generally come with an annual fee. The Venture X card, which launched in 2021, is $395 a year, less than the $695 a year American Express charges for its Platinum card or the $550 JPMorgan Chase charges for the Chase Sapphire Reserve, both of which come with airport lounges. 'When it comes to lounges, Capital One is a challenger brand; they're an underdog,' said Henry Harteveldt, founder of Atmosphere Research Group. Capital One has lounges at Denver International Airport, Dallas-Fort Worth International Airport, Washington Dulles International Airport and Harry Reid International Airport in Las Vegas. It plans to open one this year at New York's John F. Kennedy International Airport and one of its Landings at LaGuardia Airport. But the new restrictions show Capital One isn't immune to its popularity leading to big crowds. 'Like Amex, like Chase, these lounges have become victims of their own success,' Harteveldt said. 'No lounge operator wants them to be as overrun as the public areas of the airport.' Airlines have also raised prices to access airport lounges and built larger ones to accommodate the influx. Delta Air Lines, for example, has made sweeping changes to its lounge access policies, like getting rid of unlimited visits in favor of annual caps. And last summer, Delta unveiled its first Delta One lounge, dedicated for customers in its highest class of cabin. It plans to open a new one in Seattle later this month.
CNBC
07-06-2025
- Business
- CNBC
Why it's getting even harder to get into airport lounges now
Airplane tickets are getting cheaper, but it's getting more expensive to bring your family to an airport lounge. Capital One is the latest company to limit access to booming airport lounges to combat overcrowding. Starting Feb. 1, Venture X and Venture X Business cardholders will no longer be able to automatically take a guest into lounges or bring authorized second card users. They will instead have to pay $125 annually for each additional cardholder to keep their lounge access, $45 per adult guest per visit and $25 per guest 17 or younger. The $125 fee also includes second cardholder access to a network of Priority Pass lounges. "As airport lounges continue to grow in popularity across the industry, we've seen our customers increasingly encounter wait times to enter them," Capital One said in a statement. "It is important to us that we maintain a great airport lounge experience for our Venture X and Venture X Business customers, while continuing to deliver best-in-class premium travel cards at an accessible price point." Primary cardholders will have to spend at least $75,000 per calendar year to bring up to two complimentary free guests to Capital One lounges and one guest to Capital One Landings, smaller lounges built for travelers who tend to spend less time at the airport, like those heading to short flights. The $75,000 spending requirement for complimentary guests matches what American Express announced two years ago, also a measure to minimize crowding and keeping the clubs feeling exclusive. Credit card companies have ramped up their airport lounge networks in recent years, opening new locations to handle demand. And airport lounge access has been a central perk attached to rewards cards, which generally come with an annual fee. The Venture X card, which launched in 2021, is $395 a year, less than the $695 a year American Express charges for its Platinum card or the $550 JPMorgan Chase charges for the Chase Sapphire Reserve, both of which come with airport lounges. "When it comes to lounges, Capital One is a challenger brand; they're an underdog," said Henry Harteveldt, founder of Atmosphere Research Group. Capital One has lounges at Denver International Airport, Dallas-Fort Worth International Airport, Washington Dulles International Airport and Harry Reid International Airport in Las Vegas. It plans to open one this year at New York's John F. Kennedy International Airport and one of its Landings at LaGuardia Airport. But the new restrictions show Capital One isn't immune to its popularity leading to big crowds. "Like Amex, like Chase, these lounges have become victims of their own success," Harteveldt said. "No lounge operator wants them to be as overrun as the public areas of the airport." Airlines have also raised prices to access airport lounges and built larger ones to accommodate the influx. Delta Air Lines, for example, has made sweeping changes to its lounge access policies, like getting rid of unlimited visits in favor of annual caps. And last summer, Delta unveiled its first Delta One lounge, dedicated for customers in its highest class of cabin. It plans to open a new one in Seattle later this month. American Airlines and United Airlines have also expanded their airport lounges and opened new top-tier ones for customers traveling in premium classes on long-haul flights.
New York Post
06-06-2025
- Business
- New York Post
Fury as major credit card company cuts airport perk and hits customers with new steep fee: ‘I'm deeply disappointed'
Time for them to say bye-bye-bye to these perks. Capital One customers will soon be grieving a beloved perk that the bank holding company provided its customers with — and they're not happy about it. The company's Venture X card launched in 2021 and is known as a premium travel card offering great perks to its users. Advertisement Capital One hits cardholders with a steep $395 annual fee — however, users were willing to pay that since the card offered them many benefits, including complimentary access to airport lounges. However, starting next year — on February 1st to be exact, according to The Points Guy — that free access for Venture X and Venture X Business cardholders will soon be a thing of the past. Having free access to airport lounges was a beloved perk by card users. Yakobchuk Olena – Advertisement In early 2026, cardholders will have to shell out a yearly $125 fee for each person who wants to relax in an airport lounge — which means a family of four has to spend around $500 for some sanity before even stepping foot onto a plane, as reported on by Men's Journal. Yes, it gets even worse. If you want to access the Capital One-specific lounges — it'll cost you $45 per guest and $35 for Priority Pass access, exclusive lounges affiliated with Capital One. The only way cardholders can be exempt from paying these annoying fees is if they rack up $75,000 in credit card charges over the course of a year. Advertisement Sounds like a lose-lose situation. The Post reached out to Capital One for comment. 'As airport lounges continue to grow in popularity across the industry, we've seen our customers increasingly encounter wait times to enter them,' a Capital One spokesperson said in a statement to the Daily Mail, defending their decision. Venture X cards were always known for their great perks. monticellllo – Advertisement 'It is important to us that we maintain a great airport lounge experience for our Venture X and Venture X Business customers, while continuing to deliver best-in-class premium travel cards at an accessible price point.' Regardless, Capital One customers are furious over these changes. '…to be blunt — I'm deeply disappointed. This isn't just a tweak to policy. It's a fundamental shift in what made this card valuable, and frankly, worth recommending,' Seth Chomout, a Venture X cardholder and travel advocate, wrote in an open letter on LinkedIn. '…it feels like Capital One has pivoted from creating value to creating obstacles.' 'And sure, I get that lounges are crowded. But rather than scaling with demand, Capital One chose to wall off benefits behind spending thresholds that are completely misaligned with the needs of real families and real travelers,' Chomout continued.
