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You probably have your eye on the Capital One Venture because it earns 2x points on every purchase. Although Capital One recommends having an excellent credit score, your credit might be less than perfect. You should never apply for a new credit score with a low credit score, or without knowing your credit score first. In the post below I’ll lay out the Capital One Venture credit score needed for approval.
What is Excellent Credit?
Capital One defines excellent credit as:
- Never declaring bankruptcy or defaulting on a loan
- Not more than 60 days late on credit card, loan, or medical bill in the past year
- Had a loan or credit card for 3 years or more with a credit limit above $5,000
If you meet these three conditions, your Capital One Venture approval odds are very high.
Having excellent credit means your credit score is at least 750.
When your credit score is higher than 750, you can apply for the Capital One Venture and your application should be improved instantly. See here for more information.
What Others Are Saying
Should you apply for the Capital One Venture if you don’t have a 750 credit score? Below are a few experiences from applicants without a 750 credit score.
Easims states, “I applied for the Venture card with a 628 TU (TransUnion) score and a 705 EQ (Equifax) score. I was not accepted immediately but after a short phone call to Capital One customer service…I was accepted for the card and given a $15,000 credit limit!”
Nirrol Smith says, “When I applied my Transunion score on Credit Karma was showing 714 and Equifax 715 and I was instantly approved for a $12,000 limit.
An anonymous cardholder says, “Approved for a surprisingly high credit limit at 30k. I have a 730 FICO and 110k income.”
For one final reference, RJEngle said, “Applied and instant approval. I did do the preapproval on Capital One’s website before applying. Just a year and a half ago I was denied for this card. Happy to finally qualify FICO 8 scores: TransUnion: 706, Equifax: 775, Experian: 700.”
Credit Card Score Needed For the Capital One Venture
Based on the user testimonials, at least one of your credit scores needs to be at least 700. Applicants with a score of at least 750 appear to have the best chances at instant approval. When your credit score is between 700 and 750, your approval odds increase greatly if it’s at the higher end of the spectrum.
So you don’t waste a card application because your credit score is right around 700, you might see if you can get preapproved for the Capital One Venture first. Capital One may have even taken the initiative to send you a mail offer stating you’re preapproved.
If your card application isn’t instantly approved, you should call Capital One if you don’t receive a decision within 48 hours. Many credit card companies delay applications of candidates with borderline credit. To help them decide sooner instead of later, you can call the company and tell them your projected monthly spending.
Capital One Venture Interest Rate
Regardless of your credit score, most applicants between the 700 and 800 range stated they were assigned the 20.99% interest rate. There are three possible interest rates: 14.99%, 20.99%, and 24.99%. This interest rate is higher than most travel rewards cards, but it’s not an issue if you pay your balance in full each month.
Since the credit card interest rate is always higher than the rewards point values, you should only consider applying for the Venture Card or any credit card if you can responsibly handle your credit limit each month.
Capital One Venture Credit Limit
Your new credit limit will depend on your credit profile. Since the Capital One Venture is a Visa Signature card, your minimum credit limit will be $5,000.
Well-qualified applicants mentioned their credit limit was as high as $30,000. Other applicants with credit scores between 700 and 750 were assigned limits of at least $10,000. Getting the highest credit limit possible keeps your credit utilization ratio lower to help increase your score too.
Capital One Venture Card Benefits
If you qualify for the Capital One Venture, you will enjoy the following benefits:
- 2x miles on every $1 spent
- Earn 10x miles on Hotels.com purchases
- Redeem miles for travel statement credits and future award travel
With the 10x Hotels.com bonus, your Capital One Venture points is basically a 20% bonus. You earn 10x points on every Hotels.com purchase, plus every 11th night is free through Hotels.com.
As a new cardmember bonus, you will get 50,000 bonus miles after spending $3,000 in the first three months. This bonus is worth $500 in award travel, plus the 2x purchase rewards you earn from your regular purchase rewards for 56,000 miles total on your first $3,000 spent. These miles are worth $560 in award travel.
Redeeming Capital One Venture Miles
Although you can’t transfer Venture miles to any airline partners, you can use them to purchase all or part of a travel purchase. And, there aren’t any redemption minimums. If you make a $500 hotel purchase, you can use your points balance for the entire purchase or for a portion.
The same can be said for small in-flight purchases for only a few dollars. Where other rewards cards have a minimum $20 redemption requirement, the Venture card is extremely flexible.
For more information, see here.
What to do if You Don’t Qualify for the Capital One Venture
If your credit score is still in the 600s, you might consider applying for the Capital One VentureOne instead.
You only need average credit for the VentureOne and it can be a better event if you experience these credit events:
- Defaulted on a loan in the past five years
- Owned a credit card or other credit for three years or less
The VentureOne earns 1.5x points on every dollar spent and doesn’t have an annual fee. Although you won’t be earning as many points per dollar, you can still own a Venture product and build your credit history. Once your score goes above the 700 range you can consider the upgrading to the Venture Card and begin earning 2x miles on every dollar spent.
Find more information here.
What Credit Score Is Needed For the Capital One Venture Card Summary
So what credit score is needed for the Capital One Venture Card? You should only apply when your credit score is at least 700, and preferably 750 or higher. Once you qualify for the Venture Card, you’ll begin earning 2x rewards miles on every purchase. If you must wait until your credit score grows, the VentureOne is a great secondary option.
For more information about Capital One Venture, see here.
Find more information about Capital One VentureOne, see here.
The comments on this page are not provided, reviewed, or otherwise approved by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered. Editorial Note: The editorial content on this page is not provided by any bank, credit card issuer, airlines or hotel chain, and has not been reviewed, approved or otherwise endorsed by any of these entities.
Editorial Note: The editorial content on this page is not provided by any bank, credit card issuer, airlines or hotel chain, and has not been reviewed, approved or otherwise endorsed by any of these entities.