Yet the card’s perks may not justify the fee for many people. While the Premium Rewards Elite Card has an up to $300 annual airline incidental statement credit and a $150 annual lifestyle statement credit, the airline incidental statement credit is not like the travel statement credit offered by cards like the Venture X or the Sapphire Reserve.
The Venture X offers cardholders a $300 credit for travel, like flights and hotels, booked through the Capital One Travel Portal. The Sapphire Reserve also offers a $300 reimbursement for travel purchases, and you don’t have to even book through the Chase Travel portal.
With the Premium Rewards Elite Card, you get an airline incidental credit that can only be used on purchases like seat upgrades, baggage fees and airline lounge fees. If you prefer a luxury credit card with a flexible travel credit, the Premium Rewards Elite Card is not the best option for you.