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

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UPDATES:

• Capital One Venture X Card’s 100,000 bonus miles and $200 vacation rental statement credits offers are set to end on March 14, 2022! Be sure to apply before that to lock in the offer. 

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. 

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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. 

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 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. 

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 

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. 

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.  

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.

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. 

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. 

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

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).