Some Capital One cardholders have received a nice little upgrade offer to the upgrade to the Capital One Venture X Credit Card and earn 50,000 bonus miles when after spending $4,000 on purchases in the first 3 months after upgrading. While not as good as the welcome bonus for opening the card, this could be an attractive offer if you have an existing Capital One card and can’t seem to get approved for another.
The Offer
- Capital One has targeted some cardholders with an upgrade bonus to upgrade an existing card to the Venture X: earn 50,000 bonus miles when you upgrade and spend $4,000 on purchases in the first 3 months after you upgrade. This is a targeted offer coming out via email.
Key Terms
- This limited-time bonus miles offer (Bonus Miles Offer) is nontransferable and applies only to the account identified in this email.
- The Bonus Miles Offer is only available to cardholders who upgrade their account to Venture X by December 22, 2022.
- Your upgraded Venture X account must be open and in good standing at the time the bonus is fulfilled.
- If you change your Venture X card to another card or if your account becomes delinquent, closed, restricted, over the credit line or otherwise not in good standing, you will not be eligible for this Bonus Miles Offer.
- Cardholders who upgrade their account are not eligible for bonuses that may be available when opening a new account.
- Eligible account holders who upgrade to Venture X by 11:59 p.m. ET December 22, 2022, are eligible to earn a one-time bonus of 50,000 miles after spending $4,000 on new, net purchases (purchases minus returns) made between time of upgrade and March 22, 2023 (Bonus Miles Offer Period).
- Only purchases made after upgrading to Venture X will qualify for this Bonus Miles Offer.
- A purchase will be based on the date a transaction posts to the account and must post within the Bonus Miles Offer Period to be included in your minimum spending requirement.
- Purchases that post to your account before or after Bonus Miles Offer Period, cash advances, transfers and checks used to access your account are not considered purchases and will not count toward meeting the minimum spending requirement.
- Any bonus earned will be in the form of miles and will be posted to your account within 90 days of the Bonus Miles Offer Period end date.
- Purchases made by any authorized users or account managers on your account that post during the Bonus Miles Offer Period will count toward the minimum spending requirement, but authorized users and account managers are not eligible to earn their own bonuses.
Quick Thoughts
The public welcome bonus on the Venture X card has been better than this upgrade offer since the card launched. However, while we have certainly had more approval data points on the Venture X than we had gotten in the years prior to the launch of the card in 2021, there’s no doubt that Capital One can still be tough on approvals (particularly for those of us with many accounts with other banks).
If you’re eligible for the new cardmember bonus, I think it’s worth taking a swing at that. However, if you’ve tried and haven’t been able to get approved and/or you’re trying to conserve a 5/24 slot, this upgrade offer could certainly be worth it. The card itself is an easy win in my opinion between the annual $300 travel credit and 10,000 anniversary miles, which combined add up to somewhere around the cost of the annual fee ($395). If you place any value on the ancillary benefits like Priority Pass (note that it will lose restaurant access in January), Plaza Premium lounge access, Hertz President’s Circle status, 5x flights and 10x hotels booked through Capital One Travel, and the potential for occasional offers like the recent one for $75 off a flight booking from the US to Canada or a hotel in Canada, I think it could certainly make sense to upgrade.
Unfortunately through this upgrade offer is targeted and as such some (many?) people just won’t be eligible. It seems that targeted cardholders will have received an email, potentially with the subject line “Your limited-time upgrade invitation: Earn 50,000 bonus miles”.
Furthermore, the upgrade window is pretty short. The email says:
We value you as a Capital One customer—that’s why we’re excited to offer you an opportunity to experience Venture X without applying. All you have to do is claim your offer to upgrade by December 22, 2022.
When you upgrade your current card to Venture X, you’ll keep the same account number, APR, credit line and payment due date.
Those who received the email today have exactly two weeks to accept the offer. You don’t want to miss that email if you got it and you want to upgrade.
While neither my wife nor I received offers to upgrade our plain Venture cards to Venture X cards (she has an existing Venture X), I’m excited to see Capital One offering this possibility. You may have read that last sentence and wondered why we continue to carry plain old Venture cards if my wife has a Venture X. That’s a great question — it doesn’t make sense and we are likely to “upgrade” (Capital One’s term for any product change) to some sort of no annual fee card at some point soon — but I wouldn’t mind Capital One encouraging me to instead upgrade one of them to another Venture X for 50K miles. Here’s to hope for future rounds to come out.
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Have there been any offers to upgrade from venture to venture x in recent times?
It’s been 3 weeks since i’ve met the requirement but bonus hasnt posted. Can someone please share their DP?
Have you had a statement close since then? I’m waiting for my bonus as well but it’s only been a few days.
Still waiting on the statement, will post back. As far as i know cap1 posts their bonus as soon as the requirement is met so this is definitely different
Statement posted no bonus
Ditto. I see in the T&C that “Any bonus earned will be in the form of miles and will be posted to your account within 90 days of the Bonus Miles Offer Period end date.” The offer end date is March 22. Hopefully it won’t actually take until the end of June, but maybe we have to wait until after March 22?
interestingly the card is showing no annual fee still at the moment, the second annual fee posts and i still dont have the bonus i will be filing a complaint with cfpb
To my surprise 75k posted just now!
Ha, mine just posted today too. I guess they had a push. Nice that they didn’t actually wait until March.
Did anyone received their bonus yet?
I got the offer for 25K. Its a hard pass for me. Unless I was getting the full bonus as if I applied for the card I would not consider it regardless.
I’m continually never targeted by CapOne. I have the venture X and venture one, see nothing. I also was never targeted canada flight deal living in NYC. any idea why that is?
Got the 75,000 point offer on my Quicksilver card. Have had several previous offers in the last year or so to upgrade to the Venture X with no points offered so we are thinking about this one. I have been denied previously on a new application for the Venture X card. My 7 and 9 year olds are authorized users on my Quicksilver card as it’s my oldest card. So, I’m assuming they will come along for the ride and get authorized user cards on the Venture X automatically if we upgrade? I can see my 7-year-old throwing down his new priority pass card in the airport when traveling with grandma and grandpa 🙂 Not sure if there are age restrictions on this……
I got the 50,000-points offer, but… screw Capital One.
I have a VentureOne card. Received an email saying they are pleased to offer me a chance to upgrade to a Venture X. But they offered no points to do so. I am pleased to wait for a better offer.
I got an upgrade offer for 75k. Good timing since I was considering closing my Venture card since the annual fee is about to hit.
I only got the 25K offer as well. Am still thinking it over.
Here’s another data point. My upgrade offer came with no bonus whatsoever.
Same here…upgrade offer with no bonus
I received this offer today, but for only 25K miles unfortunately. Not as appealing in terms of the opportunity cost of the minimum spend requirement.
But hypothetically if I chose to upgrade from my Venture, what would that mean for future Venture X approval eligibility? Does Capital One have a standard “waiting period” for applying for the same card again?
I’ve heard positive data points of getting the Spark Cash again, but not heard of anyone trying for another Venture X yet. Interesting to hear that the amount of the upgrade bonus is also targeted. I’ll update that, thanks!