My Experience On Capital One Venture X Card's Application Approval and Recommendations

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My Experience On Capital One Venture X Card's Application Approval and Recommendations


On November 9, 2021, Capital launched a brand new Capital One Venture X Credit Card that got all the miles and points enthusiasts excited about. Some refer to the card as the best premium travel credit card of the year!

I personally applied for the Venture X card too and got approved. In this post, I want to help walk you through Captial One application rules and offer some data points checklists for your references to determine your chance of getting the Capital One Venture X Credit Card approved. 

My Experience On Capital One Venture X Card's Application Approval and Recommendations
Photo Credit: Capital One

Table of Contents  [show/hide]

    Does the Capital One 6 months rule apply to the Capital One Venture X card? 

    Yes. Capital One will only approve you for only 1 credit card every 6 months. This rule is known as the Capital One 1/6 rule. It really does not matter if the approved card was a personal or a business Capital One credit card. 

    Does the Capital One 2 credit card limit apply to the Venture X card? 

    Yes. You are limited to just 2 personal Capital One credit cards. This Capital One 2 card limit only applies to Capital One branded credit cards. This limit does not apply to Capital One co-branded credit cards or Capital One business credit cards. 

    Capital One Venture X Card's Sign-up Bonus Offer Eligibility 

    Capital One Venture X Credit Card contains the standard eligibility wording when it comes to the sign-up bonus offer: 

    The bonus may not be available for existing or previous accountholders. 

    However, Capital One treats the Venture X card as a NEW credit card, and therefore, everyone is eligible for the welcome bonus offer on an approved application. 

    Are you eligible for the Venture X card's sign-up bonus if you already have another Venture Rewards card? 

    Yes. You are eligible to apply for the Capital One Venture X Credit Card and receive the card's signup bonus offer even you have the following Capital One Venture rewards credit cards: 
    • VentureOne Rewards for Good Credit 
    • VentureOne Rewards 
    • Venture Rewards 

    Can you upgrade your Capital One Venture Rewards card to the Venture X card? 

    Yes, you can. However, please note that when you do product change to the Capital One Venture X Credit Card, you are not eligible to receive the card's current welcome bonus offer. 

    Does Capital One Venture X card require excellent credit? 

    Capital One markets the Venture X card for excellent credit consumers, but in practice that is not the case. I would say that if you have at least a good credit score, you should be okay to apply. Just for a reference, my credit score at the time of applying was "good credit" with the following scores:
    • Experian: 738
    • Equifax: 734
    • TransUnion: 724

    Moreover, from the data points that I collected, there are more than just credit score numbers that Capital One is looking for: 
    • An excellent credit score does not guarantee you approval with Capital One. 
    • Capital One is also very sensitive to the number of recent credit inquiries on your credit report over a short period of time. 
    • Capital One prefers customers who carry a balance and finance charges over those responsible ones. I know this data point is kind of odd, but that's how banks typically make money with credit cards. 
    • Being Capital One's existing customers may help, but it's not necessary because I have seen people get approved for the Venture X card as their first Capital One credit card they have too.  

    Capital One pulls from which credit bureau?

    The annoying part when applying for a Capital One credit card is that, unlike other banks, Capital One pulls from all three (3) credit bureaus once your application is submitted. So you can expect to see a hard inquiry on all three credit bureaus such as Experian, Equifax, and TransUnion.

    How many credit inquiries is too many for Capital One?

    Unfortunately, there's no clear magic number of credit inquiries that Capital One deems for "too many" and denies your application. The rule of thumb is, Capital One is very sensitive to the number of recent inquiries on your credit report. If you have multiple hard pull inquiries over a short period of time, I would hold off applying for the Venture X card. Nonetheless, you can also still check Capital One's pre-approval tool to see if they still pre-qualify you for card offers. See below. 

    How accurate is Capital One's pre-approval for the Venture X card? 

    First of all, it's worth noting that the Capital One Venture X Credit Card is a new Capital One credit card, and therefore it will not show in Capital One's pre-approval card list yet. 

    Moreover, there's no guarantee that Capital One's pre-approval tool will get your Capital One Venture X Credit Card application approved, but it is a nice handy tool to help determine if you likely get approved for the Venture X card or not. 

    Please note that your credit will not be affected when using Capital One's pre-approval system. Here's what you would do
    • Go to Capital One's Pre-Approval website
    • Follow the screen and answer a series of questions
    • Finally, click the submit button to see if you are pre-approved for any Capital One credit cards. 

    If you do not see the Venture Rewards card as part of your pre-approved list, I would think twice before applying for the Venture X card. A couple data points here: 
    • I went through Capital One's pre-approval process for card offers this morning and received the offer for the Venture Rewards card. See the screenshot below. 
    • My friend, on the other hand, went through the pre-approval process too, but he did not receive the offer for the Venture Rewards card. He received the offer for Capital One's Quicksilver and Platinum cards. He decided to apply anyway and got denied. He has an excellent credit score with outstanding payment history. 

    My Experience On Capital One Venture X Card's Application Approval and Recommendations
    Photo Credit: Capital One Pre-Approval Card Offers


    Is there a minimum credit line for the Venture X card? 

    Yes. It is $10,000. I was approved for $20,000 but I saw people got approved for up to $30,000.

    Capital One Venture X Card's Application Approval Tips and Checklists

    As a quick disclaimer here, the following tips and checklists are mainly for your references only based on my personal experience and credit situations along with data points that I have seen. I was approved for the Capital One Venture X Credit Card and wanted to share what I did that lead to the approval of my application: 

    • You do not have two (2) or more personal credit cards with Capital One yet. Store cards do not count. 
    • You have not been approved for a Capital One credit card (personal or business) within the last 6 months
    • You have a least a good to excellent credit score number on all three (3) credit bureaus such as Experian, Equifax, and TransUnion because Capital One pulls all three credit bureaus
    • You do not have many hard-pull credit inquiries on your credit report over a short period of time. 
    • Check Capital One's Pre-Approval tool and see if you are pre-approved for the Venture Rewards card
      • If your Capital One's pre-approval card offers list includes the Capital One Venture Rewards credit card offer, you may have a good chance of getting the Capital One Venture X Credit Card and receiving approval. 
    • Apply for the Capital One Venture X card through the link below:
      • There's also a data point indicating that on the application page, it may help if you will be doing a balance transfer. I am not quite sure if that is true or not, your guess is as good as mine. So it's completely up to you. Those questions are optional. I did, however, choose to do the balance transfer for the following questions on the application page:
        • How often do you carry a balance on personal credit cards? (Optional)
          • Sometimes
        • If offered, would you be interested in blank checks to use for cash advances? (Optional)
          • Yes
        • If offered, do you plan to transfer any balances from other non-Capital One credit cards? (Optional)
          • Yes (if asked).

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    PL

    Posted by: PL

    Hello there! People call me PL and I am a points blogger. Obsessed with using points and miles to elevate travel experiences to explore the world. Enjoy finer things in life and good food. I have a day job, this points blog is mainly my hobby and my contribution back to the points community. If you enjoy reading this post, please help me share it! If you enjoy what you read here, please make sure you subscribe or follow this blog on social media so that you will be notified when there's a new blog's post. I thank you for reading this blog. Your support means a lot to me and it is what makes this blog's work worthwhile. If I can be of any help, you can contact me: thepointslife at gmail dot com

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