There's no quicker way to add to your stash of points and miles than taking advantage of a big, new card bonus offer. Apply for a new card, meet the minimum spending requirement, and boom: You've got a meaningful amount of points or miles right out of the gate.
Unfortunately, Capital One is making it harder for travelers to earn a big bonus on its popular line of Venture cards, like the popular *venture x*, the tried-and-true *capone venture*, and even the no-annual-fee *capone ventureone*. An astute Reddit user, CobaltSunsets, highlighted a recent change in Capital One's bonus terms that restricts eligibility based other Capital One cards already in your wallet.
A couple of years ago, Capital One added a new 48-month rule to its terms, limiting prospective cardholders to one new-card bonus every four years. That was unfortunate news for many, but it just got worse: You're no longer eligible for the Venture or Venture X if you've earned a bonus on either card in the last 48 months – four whole years! The same is true for anyone looking to pick up Capital One's entry-level VentureOne Card: You won't be eligible for a bonus if you've earned one on the Venture or Venture X in the previous 48 months. Fortunately, you can still add the Venture or Venture X – and earn a bonus – even if it's been less than four years since earning a bonus on the VentureOne.
Take a look for yourself …
This is a major departure for Capital One, but isn't something that's totally unheard of. For years, Chase limited travelers to holding either the Chase Sapphire Preferred® Card or the Chase Sapphire Reserve® – not both. That changed (a bit) earlier this year, with the relaunch of Chase's flagship Sapphire Reserve Card in June … but earning a bonus on both cards still isn't a sure thing.
Traditionally, American Express limited bonus eligibility on each of its cards to “once per lifetime.” There are recent signs of that rule weakening – but in other ways Amex has made it harder to earn a bonus by adding new “family language” to its terms, meaning you might not be eligible, depending on what other Amex cards you've had (or have) in the past.
Add it all up and one thing is clear: The banks are trying harder than ever to keep travelers from signing up for a new card just for the big bonus offer. It makes perfect sense from the banks perspective, but it's still a troubling development for would-be cardholders.
Capital One's Credit Card Application Rules
If there's any saving grace, it's that getting approved for multiple Capital One cards was already a tall task. Capital One has some of the most mysterious credit card application rules and standards you'll find from any bank. Beyond the old 48-month rule and this new “family” restriction for Venture cards, the bank doesn't publish many rules, period.
But enough data points and trends have emerged over the years to give us a bit of information that can help get you approved for a Capital One credit card. Even so, its approval standards seem inconsistent at best. Here's what we know:
- First and foremost, if you have applied and been approved for any other Capital One credit card within the past six months, it's likely that any new credit card application will not be approved. This includes both personal and business credit cards.
- There are, of course, exceptions to this rule. But generally speaking, keeping your Capital One application and approval history clean for at least six months will give you the best chances of getting approved.
- Data points also suggest that Capital One will only allow you to hold two personal credit cards simultaneously. But this rule seems murky: Some travelers have reported having more than two Capital One personal credit card accounts open.
But this new rule seems pretty clear. If you have or have had a Capital One Venture or Venture X card and earned its welcome bonus within the past 48 months, you won't be able to get approved for a different Venture Card for another four years. Meanwhile, if you've had or have Capital One's no-annual-fee VentureOne, you are still eligible for either of the higher-priced versions … but not the other way around.
Read more: A Master Guide to Credit Card Application Rules: Bank by Bank
Bottom Line
Capital One quietly rolled out a new eligibility rule on its lineup of Venture cards, further restricting bonus eligibility based on what other Capital One cards are in (or were in) your wallet.
If you have or have had a Capital One Venture or Venture X and earned the bonus on that card within the past 48 months, you won't be able to get approved for either card for a full four years. The same is true for Capital One's no-annual-fee VentureOne. However, if you started with the no-fee VentureOne, you are still eligible for a bonus on the Venture or Venture X … so long as you haven't earned a bonus on either card in the last 48 months.
