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 they've been able to earn plenty of Amex points each month, which have provided valuable returns on and for flights, hotels, and gift cards.

This is especially true when it comes time to redeem rewards for business-class travel (since I tend to invite them along on my own trips). The Amex Business Platinum offers a 35% rebate on points redeemed for business class flights (or economy flights with an airline that you select), up to 1,000,000 points back each year. 

For my parents, who often have fixed travel dates and less flexibility when it comes to redeeming rewards, this 35% rebate offers a valuable way to redeem Amex points without sacrificing value.

However, the Business Platinum's limited bonus reward categories have also meant that, a lot of the time, they're earning just 1 Amex point for every dollar they spend.

The Capital One Venture X Business card offers stronger travel rewards like more miles per dollar spent—so I knew it'd be a better card for my parents.

Capital One Venture X Business Offers Up to 10 Miles Per Dollar Spent on Travel 

The Capital One Venture X Business credit card offers at least 2 Capital One Venture miles per dollar spent on all purchases, with no limit. Unlike with the Amex card, Venture X Business cardholders don't have to worry about earning less for certain ordinary expenses, and there are no annual caps. The Venture X Business also earns more on purchases booked through Capital One Travel: 5 miles per dollar spent on flights and 10 miles per dollar spent on hotels and rental cars.

Earning 2 miles for every dollar spent is a pretty compelling reason to switch to the Capital One Venture X Business card. It's also why I recommended that my parents get the card.

Beyond this, though, the card compares favorably to the Amex Business Platinum in a few key areas.

When it comes to annual fees, the Capital One card charges $395 per year compared to the $695 you'll pay with the Amex.

This $395 is also offset by a $300 travel credit and a 10,000-mile bonus you'll receive each year. While miles can vary in value, at a minimum, that bonus is worth $100 towards travel. These two perks effectively wipe out the annual fee for the Venture X Business card.

While the Amex Business Platinum offers its own credits, including $400 per year at Dell and $200 per year in airline fee credits, they're a lot more limited. They can also be difficult to use for many businesses, such as the $360 per year offered in quarterly credits for Indeed purchases. Although my parents were able to make use of some of these credits, the Venture X Business card's annual bonuses are easier to use and the annual fee is lower, making it easier to offset.

My parents didn't have to worry about comparing APRs of the Amex and Capital One cards either. That's because, although the Amex card allows you to carry a balance, they always pay off their full statement balance each month. This worked out well because the Venture X Business must be paid in full each month (if you fail to pay on time, you're charged a 2.99% fee). The only fee my parents needed to think about and compare was the annual fee.

Finally, although both the Capital One Venture X Business and the Amex Business Platinum offer airport lounge access with a Priority Pass Select membership, membership through Capital One's Venture X Business also provides credits for spas and restaurants. (Note: The personal version of the card, the Venture X, does not provide those extra credits).

This isn't to say that the airport lounge access offered by Capital One is better than the access offered by Amex. In fact, Amex's offering includes more options and more lounges worldwide with the Global Lounge Collection. However, the airports that my parents frequent are home to those Priority Pass restaurants, which make an excellent alternative to the often crowded lounges they'd otherwise end up in. 

The Capital One Venture X Business rewards card is also currently offering a 150,000-mile welcome bonus for meeting minimum spending requirements. In this case, cardholders need to spend $30,000 within the first three months. 

While this is out of range for many small business owners I know, it's within reach for my parents. This will mean that after meeting the requirements, they'll have at least 210,000 miles in their account. 

Again, Capital One Venture miles can be redeemed for various values (and your best bet is to transfer them to airline and hotel partners). But 210,000 miles are worth a minimum of $2,100 toward travel purchases. If you redeem for more than the minimum of 1 cent per mile, it could be worth even more.

The Pros Outweigh the Cons With the Capital One Venture X Business Card

There are a few areas in which the Capital One Venture X Business card is weaker than its competitors. For example, the Chase Ink Business Preferred earns 3 Ultimate Rewards points per dollar spent on some common business categories, including travel, shipping, eligible advertising, and internet services. However, those bonus categories are capped at the first $150,000 spent each year, after which the rate drops down to 1 point per dollar spent. 

The Venture X Business also lacks the elite status levels that the Amex Business Platinum provides at Hilton and Marriott, which grant valuable benefits such as point bonuses, free breakfast, and room upgrades. 

At the end of the day, the Capital One Venture X Business really is a perfect card for my parents. They're not the kind of people to watch every dollar they spend and ensure that they maximize their point categories and benefits. Instead, they'd rather have a simple card that earns reliable, easy-to-use rewards. In that case, the Capital One Venture X Business credit card fits the bill.