Capital One Venture X Approval: My Experience

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This week we saw the launch of the new Capital One Venture X Rewards credit card, which is Capital One’s new premium credit card. I applied for the card on launch day and was instantly approved. I wanted to share my experience, and also share some trends that I’m noticing based on the app data points provided by OMAAT readers (and please continue to share your app approvals and denials in the comments section, so that we can get as many data points as possible).

In this article, I wanted to go over everything you need to know to be approved for Capital One Venture X.

Why you should apply for Capital One Venture X

The Capital One Venture X is worth applying, outright. The card has an annual fee of $ 395, but has so much to offer:

  • The Venture X has a huge welcome bonus of 100,000 bonus miles plus a $ 200 vacation rental credit after making minimum spend
  • In the long run, the Venture X offers two perks that should more than offset the annual fee – a $ 300 annual travel credit, plus 10,000 bonus anniversary miles (redeemable for a minimum of $ 100 travel)
  • Venture X offers incredible lounge access benefits including Priority Pass membership and Capital One lounge access
  • You can add up to four authorized users to the Venture X at no additional cost, and they receive many of the same benefits, including lounge access.
  • The Venture X also offers elite Hertz President’s Circle status, prime rental car coverage, TSA pre-check credit or global entry fees, and more.

The math does more than check here – it really is an incredibly rewarding card.

Access Capital One Lounges with the Venture X

Capital One Venture X eligibility conditions

I know for some people in the travel space, the Capital One Venture X may be the first Capital One product they apply for. There are a lot of rumors about Capital One’s application restrictions, so let’s go over the basic eligibility requirements you need to know. I would say that overall this is good news and this card may actually be easier to approve than some of the other Capital One cards.

What are Capital One’s approval restrictions?

Capital One does not officially publish any restrictions on the approval of new cards.

Many suggest that you can only be approved for a Capital One card every six months (it doesn’t matter if it’s a personal or business card). However, there are several data points of people who are instantly approved despite having purchased another Capital One card more recently than this.

There has also been a rumor in the past that you generally cannot have more than two Capital One personal credit cards at a time (with the exception of co-branded cards). There are plenty of data points to suggest that this is no longer a policy (with several people reporting having received more than two cards), so personally I wouldn’t put much weight on it.

I’d say that’s all good news – there doesn’t appear to be any hard and fast rules regarding Capital One card approvals in this case, which is great news.

What credit score do you need to be approved for Venture X?

There is no consistent rule of thumb for the credit score you need to be approved for Capital One Venture X, although I recommend that you have a credit rating in the “good” to “excellent” category. If you are considering applying for it. menu.

Personally, I probably wouldn’t apply if my credit score was below 700 and ideally I hope to have a credit score of 740 or above. That being said, some people with grades lower than this report get approved and some people with scores higher than this report get rejected. There are many factors that go into approval – your income, your credit history, how much credit Capital One has already given you, etc.

Can you get the Venture X if you have the Venture?

Yes you can. You are eligible for Capital One Venture X, including the welcome bonus, even if you own another version of Capital One Venture. Just ask for the card up front and hopefully you will be approved. While it is also possible to switch products, please note that then you would not be eligible for the new cardholder bonus.

Does Capital One turn people down with excellent credit?

There is a rumor that Capital One denies many people great credit because Capital One would want customers who have balances and finance charges (after all, this is a way for card issuers to credit to earn money).

I cannot speak personally about it. I have certainly seen data points of people with excellent credit being denied Capital One cards, although the two Capital One cards I applied for were instant approvals (and I have excellent credit and I have no balance). The data points we’ve seen since the card’s launch suggest that many people are getting instant approval, including some who had previously been rejected for the “standard” business.

I’ll take it a step further – I’m actually starting to think that the Venture X might be easier to approve than some of the other Capital One cards, especially for those with great credit. While there are mysterious reports of rejection, by and large, people with excellent credit and no balance report that they are approved. That’s not to say that some people won’t be turned down (obviously it will, and there are reports about it), but it looks like people are getting approved at a higher rate than we expected. This is good news.

People are lucky to be approved for Venture X

Does Capital One still pull from all three credit bureaus?

Capital One is one of the only card issuers to take credit from all three credit bureaus when you apply for a card. It still is, although I personally don’t see it as a big deal. Your score will usually be reduced by a few points temporarily when you apply for a card, and that really shouldn’t matter with how many bureaus your credit is drawn from. At least that’s my take – this restriction never really bothered me, although I know others feel differently.

What is the minimum credit line for the Venture X?

The Venture X is a Visa Infinite card and Visa Infinite products have a minimum line of credit of $ 10,000.

What happens if you are turned down for the Venture X?

If you are not sure if you are approved for the Venture X, should you be concerned about being refused? Generally speaking, being refused a credit card is not a big deal at all. You can always reapply in the future, and it’s not like a denial is reported negatively on your credit score. The survey itself will instead show up on your credit report (and might temporarily lower your credit score by a few points), but that’s about it.

Capital One Venture X Application Guide

I applied for Capital One Venture X on Tuesday and wanted to share my experience with the application process. The request took two minutes to complete. The first page asked for my name, date of birth and social security number.

The next page asked for my postal address, as well as my email address and phone number.

The next page asked for financial information including employment status, income, my monthly rent or mortgage, basic information about what type of accounts I have, how much I spend on credit cards, and if I usually have a balance (the latter two are optional, and I left them blank).

I was then asked if I wanted to add additional cardholders in case I was approved.

At this point I was asked to confirm that all of the information I had provided was correct and then my application was submitted – I was instantly approved, with a huge line of credit, nothing less. Ford had the same experience and also got instant approval. NS !

At the end of the line

Capital One Venture X is now accepting applications and I am delighted to have been instantly approved. This is simply a phenomenal new card, both in terms of the welcome bonus and in terms of ongoing benefits.

The card offers annual benefits that more than justify the annual fee (a $ 300 travel credit plus 10,000 bonus miles), and on top of that, the card offers impressive lounge access benefits, rental, great return on daily expenses, and more.

More data points would be helpful, so if you applied for the Venture X, what was your experience like? Instant approval, denial or what? The more information OMAAT readers can share, the better!


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