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I just got my first Capital One card over the weekend – and not for lack of previous trying. I’ve applied several times over the past few years but have always gotten a big fat denial. The official reason has always been “too many card accounts” or some other vague message, and I missed out on some really great offers.
The Capital One Venture X card is THE card to have right now.
It checks all the boxes: huge welcome bonus, great earning potential, ongoing benefits that justify the annual fee, and an overall simple yet powerful card. For most people looking for a premium rewards credit card, this is the one – and I don’t say that lightly. I really really wanted this card.
Here’s what convinced me to apply again. This time, I was instantly approved online with a $30,000 credit line.
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Capital One Venture X approval
Capital One didn’t like me for the longest time. I watched offers come and go, and even threw my hat into the ring a few times. With each application, I filled out the information, Capital One pulled my credit from all three bureaus, and then… denied. I even had an auto loan with Capital One that had perfect payment history. Surely that would give me a boost?
I was getting seriously bummed over this, because Capital One has a great card lineup – and has made strides with transfer partners and most recently, brand new airport lounges.
With each denial, I turned around and got a different card with another issuer, usually with instant online approvals. When I applied for the Capital One Venture X card in November and got turned down, I was just about ready to give up on Capital One altogether.
Capital One preapproved cards made me change my mind about applying again
I’ve been checking my Capital One preapproved offers every so often, just to see what comes up (there’s no impact to your credit). Despite having ultra-premium cards from other issuers, a 100% on-time payment history, and 20 years of revolving accounts under my belt, Capital One did NOT like me.
My preapproved offers were for secured credit cards. Clearly they didn’t like what they were seeing. Did I have too many card accounts?
Then it changed.
When I checked over the weekend, I was preapproved for two actual credit cards. That was new.
But here’s what made me apply: the fixed interest rate.
The cards had a 26.99% interest rate, which is ridiculous of course but I never carry a balance and don’t pay a dime of interest, so it was moot.
What struck me was that it was a fixed rate instead of a range. That made me think that Capital One had reassessed me, enough to show me one interest rate and two preapproved card offers. Could I parlay this to the Venture X card? I decided to apply again.
I was halfway expecting to get another denial. But, there are few cards I’m eligible to get any more and I closed on my house so I thought, “YOLO” and spun the wheel again.
I literally gasped when I was instantly approved with a $30,000 credit line. I verified my information and set up my online account.
Finally, after all these years, I got my first Capital One card – and I’m really excited about it!
Capital One Venture X details
Though there’s a $395 annual fee, the card benefits more than make up for it. The Capital One Venture X card comes with:
|Capital One Venture X||75,000 Venture miles (Worth $750 toward travel)|
|• Earn unlimited 2x miles on every purchase
• Transfer your miles to 15+ travel loyalty programs
• Enjoy free access to Capital One lounges for you and two guests
• Get 10,000 miles very anniversary year (worth $100)
• Get an annual $300 credit for bookings through Capital One Travel (flights, hotels, and more)
|• $395 annual fee||• $4,000 on purchases within 3 months from account opening|
|It doesn't get much simpler to earn and redeem points than this||• Learn more here|
The annual $300 statement credits plus the 10,000 anniversary bonus miles (worth $100 toward travel) easily cover the annual fee. Then there’s lounge access to Capital One and Priority Pass lounges, 10x miles on hotels and rental cars booked through Capital One, 5x miles on flights booked through Capital One, and 2x miles on all other purchases. Plus, you get $200 to use toward vacation rentals (like Airbnb or VRBO) the first year.
That doesn’t even include the huge 100,000-mile welcome offer, which is worth $1,000 toward travel on its own.
You can transfer Capital One miles to a variety of transfer partners for even more value per point, which is likely what I’ll end up doing.
And while those transfer partners are still a bit limited, I can see myself using the Venture X card for regular purchases just to get the 2x miles. If anything, it pays for itself and can be an “everywhere else” card. It’s definitely the one I’ll use at Costco from now on, because it’s a Visa card. (Actually, this might the new best card to use at Costco… I’ll have to think about that.)
I’m pleased as punch that I got an approval for the new Capital One Venture X card! Maybe this will help others who’ve struggled with Capital One approvals in the past.
The switch for me was getting preapproved offers for credit cards with a fixed interest rate. Based on that, I decided to apply for this card, and it worked. On the flip side, if you check your preapprovals and don’t get anything – or only get secured cards – you might not get approved for this (or other) Capital One credit cards.
While I don’t think the Capital One Venture X card completely kills other ultra-premium rewards cards, it does have an annual fee that’s lower than most, and the built-in rewards easily cover the cost of the annual fee. For most people (even casual travelers) this is the best all-around travel rewards card on the market right now.
I’m excited to get it and put the benefits to use. It is my highest recommendation now. The welcome offer, the simplicity and versatility of the card, the benefits – all superb. This card is a game-changer.
Have you had a hard time getting approved for Capital One cards in the past? Are you interested in the new Venture X card?* If you liked this post, consider signing up to receive free blog posts in an RSS reader and you’ll never miss an update! And thanks for using my links to apply for new card offers!
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- Capital One Venture X Rewards - Earn 75,000 Venture miles plus a $300 annual statement credit for travel booked through Capital One
- Chase Ink Business Preferred - Earn 100,000 Chase Ultimate Rewards points after you spend $15,000 on purchases in the first 3 months and 3X bonus points per $1 on the first $150,000 spent on travel and select business categories each account anniversary year
- Amex Blue Business Plus - Earn 15,000 Amex Membership Rewards points and 2X bonus points on up to $50,000 in spending per year with NO annual fee
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