A few weeks ago, Capital One released an increased welcome offer for the Venture X Business card that gives new cardholders 300,000 Capital One Miles after spending $100,000 in the first 6 months. The offer is broken up into two parts: the first 150K is awarded after $20K spend in the first three months, while the second 150K drops after a total of $100k in spend over the first 6 months.
This increased offer will be ending on March 11th, 2024.
The Offer & Key Card Details
| Card Offer and Details |
|---|
150K Miles ⓘ Affiliate Earn a one-time bonus of 150K miles after $30K spend in the first 3 months$395 Annual Fee Recent better offer: Expired 3/31/23: 250K Miles after $50K in spend. FM Mini Review: Similar to the Venture X consumer card, the business version offers annual rebates that easily mitigate the fee for those who travel often and could be worth it for the lounge access and travel protections given the cost/benefit ratio. Unlike the Venture X, free authorized users do not get Priority Pass access. The card earns 2 "miles" per dollar on most purchases just like the Capital One Venture X Rewards card, which are worth exactly 1 cent each toward travel. This makes the return on most spend similar to a 2% cash back card (though in this case you must redeem your miles to offset travel in order to get 1 cent per mile). One big advantage over cash back: Capital One allows transfering their "miles" to airline miles & hotel points. Click here for our complete card review Earning rate: 10X miles on hotels and rental cars booked via Capital One Travel ✦ 5x on flights booked via Capital One travel. ✦ 2X everywhere else. Card Info: Visa issued by CapOne. This card has no foreign currency conversion fees. Noteworthy perks: $300 annual credit for bookings made through Capital One Travel ✦ 10,000 bonus miles starting at first anniversary ✦ Up to $100 application fee credit for Global Entry or TSA PreCheck® ✦ Capital One Lounge Access ✦ Priority Pass w/ unlimited guests (includes restaurants) ✦ Plaza Premium lounge access ✦ Cell phone insurance ✦ Trip insurance ✦ Primary CDW coverage ✦ Redeem miles for travel at 1 cent per mile ✦ Convert "miles" to airline miles & hotel points |
Quick Thoughts
The Venture X Business is effectively the small business version of the Venture X card and is almost identical in terms of benefits and earnings, making it a compelling keeper card. While you have to pay a $395 annual fee, in my opinion the anniversary bonus and $300 travel credit more than offset it, and you also get access to the excellent lounge benefits and 2x everywhere earning. In fact, although Capital One took away restaurants for the Priority Pass membership that comes with the consumer Venture X, business cardholders are still able to access them.
As far as the welcome offer goes, even the first-tier spend will be a non-starter for many…$20K is a big number. Our Reasonable Redemption Values lists Capital One miles at 1.45 cents per point, so that 150,000 points is “worth” ~$2,175. With the Amex Business Platinum still hanging out at 150K Membership Rewards points for 25% less minimum spend, it’s certainly worth comparison shopping to make sure that the C1 card card is the best fit for your situation. It’s also worth noting that, since the Venture X Business does earn 2x on all spend, you’ll actually end up with 190,000 C1 Miles after completing that first $20K.
As for the second tier, it’s not often that we see a minimum spend requirement even closely approaching $100,000. That will be out reach for many, but those who have large amounts of business spend can probably hit it without too much trouble. It could especially be appealing for businesses that have several authorized users and can’t change cards frequently based on bonused spend or welcome offer opportunities. After six months, they’d have a total of 500,000 C1 Miles, with a conservative value of around ~$7,200. That works out to ~7% back on that $100,000 in spending, which is fairly competitive.
For most other folks, there’s little reason to commit to that kind of spending for only 150K bonus miles.
View from the Wing reports that the card will not appear on your personal credit report, so this won’t affect your 5/24 status and the spend won’t be reported on your credit utilization. It’s worth noting that Spark Cash Plus primary cardholders are not eligible for the Venture X Business card.
Capital One Application Tips
- 48 Month Rule: Existing or previous cardholders are not eligible for the same personal card if they have received a new cardmember bonus for the same product within the last 48 months. This doesn't apply to business cards.
- 2 card limit? Conventional wisdom and user experience used to be that you can have at most 2 Capital One cards. However, there are now frequent data points of some people having many more.
- 1 Charge Card Limit: Capital One only allows cardholders to be have one business charge card, so it's not possible to be the primary cardholders on both the Venture X Business and Spark Cash Plus. This doesn't apply to authorized users.
- Hard inquiries usually get issued through all 3 credit bureaus.
- Velocity Limits? It used to be thought that Capital One will only approve you for one card every six months. While this is still many people's experience, we've now frequently seen data points of approvals for a second card within that timeframe.
- Application Status: Call (800) 903-9177 to check your application status.
- Reconsideration: If denied, call (800) 625-7866 for reconsideration.
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Getting the 100k is basically impossible
A 10k purchase limit makes it impossible, even when I have 40k on the personal.
Datapoint: Got declined yesterday (have a venture X but no business cards with cap 1). Not surprised since their pre-approval tool only showed “repair your credit” options (despite a ~840 FICO). Reason given was “too many recent cards”. I’m 6/24 (although 2 of them are 23.5 months old).
I called reconciliation and she took some notes and said it will be put for a review and I’d hear back in ~2 weeks. Five minutes later I got a second “declined” email.
No more big Cap1 bonuses for me I guess.
This card is SUCH A CHORE to meet spend with. You have to basically get pre-approved for every large purchase, then you can’t make another purchase till you pay off the prior balance. It’s barely a credit card in that they don’t seem to trust you with more than a few $k balance at one time. P2 got one prior to this offer and it was a struggle to meet the spend. I do BGs and I’d basically have to pay the balance off with my own money so I could keep using it for purchases. I can only imagine the pleasure (read: pain) I would have trying to nail down $100k spend in 6 months.
That’s interesting, there was another comment below about the same sort of issue. I got one for P2 as well and we haven’t run into any of those issues. Just out of curiosity did you or they ever call into Capital One to see if there was an issue on their side somehow?
IIRC, I heard a couple of similar complaints back when the card was first launched last year, but haven’t seen anything since. Sounds like a pain, regardless.
I don’t recall if we called Capital One about that issue specifically, I just struggled through it and constantly paid off balances after purchasing with it. I was making large purchases, $2k-$7k at a time. Crazy thing is that we’ve both had Capital One checking and savings account for ~20 years, and P2 had Venture X for a few years, but that didn’t seem to garner us any additional trust or leeway on the Venture X Biz. Even thinking about trying to do this on $100k spend makes my brain hurt.
Any idea on how long after canceling a Spark Plus, I would be eligible?
following
Both P1 and P2 got denied for this card.
Just a heads up, this “Capital One Venture X Business” card has been the WORST CARD I have had in decades. Advertising as “no preset limit” please note that it is NOT like an Amex Platinum card at all. The card “learns” your habits based on ongoing incremental approvals (and freezes) and frequent payments. It was VERY DIFFICULT to even get my sign-on bonus minimum spend, as the card was so restrictive in its usage.
I completely agree. P2 got one months ago (prior to this offer) and meeting the min spend on it was a HUGE pain. You have to basically get pre-approved for every purchase, then you can’t make another purchase till you pay off the prior balance. It is THE WORST!!
What is the rule if I already have Venture X?
Not an issue afaik, I was auto approved for the business card a few weeks ago while having the personal open
Anyone get approved for this? I find very few successful data points
Offer card detail is for the Amex Marriott biz card, not VX Biz.
Thanks, fixed it.