Capital One dealt travel-lovers a blow earlier this week by quietly tucking in new rules that made it harder to earn multiple big bonuses on its popular line of Venture cards, the *venture x*, the tried-and-true *capone venture*, and even the no-annual-fee *capone ventureone*. But we've got some good news.
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. But earlier this week, Capital One changed its terms and conditions to state that 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.
But Capital One just reached out to clarify an important (and positive) change to that policy: Travelers who have previously earned a bonus on the Capital One Venture can still earn a bonus on the Venture X within that same 48-month span. Same goes for VentureOne cardholders, who can earn a bonus on both pricier cards.
Long story short: Just like American Express, you need to work your way up from the bottom in order to earn multiple welcome bonuses from Venture Cards. Of course, Capital One – and its secretive approval standards – could mean you're still denied for a new Venture card.
Still, it's a relief.
When this policy first cropped up over the weekend – courtesy of an astute Reddit user who first spotted it – it was a major change for Capital One. The bank previously added a new 48-month rule to its terms, limiting prospective cardholders to one new-card bonus every four years. This would have been a significant escalation.
But it's not 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.
And 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
After upsetting travelers by making it much harder to earn multiple bonuses on (almost) the entire suite of Venture cards, Capital One is easing off a bit.
The bank has updated its terms to clarify that travelers who earned a bonus on a Venture Card within the last 48 months can still earn another bonus on the Venture X.
I think getting the venture X is the best bet overall for a card to keep. This is my everyday card if I’m not working on a SUB. Getting priority pass now means my spouse and kids need to have their own card which I’m not thrilled about but I’m glad they will still have that option as they all have the regular Venture card but like to use the lounges as my AU from my X card. Even though for them $400 a year is steep, the fact they get it all back is worthwhile in my opinion. I’m waiting for an elevated offer to pull the trigger and hope they all get approved. One of my daughters has the savor and venture so it will be interesting if she can get the X without closing the other venture.