What credit score do you need?
For travel enthusiasts, the Capital One Venture Rewards credit card is a great choice if you’re looking to earn rewards on flights and hotel stays. It’s one of the best travel rewards credit cards on the market, offering plenty of opportunities to earn and redeem Capital One miles, plus a generous welcome bonus of 75,000 miles after new cardholders have spent at least $4,000 in the first three months of account opening. .
For a modest annual fee of $95, the card also includes helpful travel perks such as a $100 statement credit to cover TSA PreCheck® or Global Entry membership and two free admissions per year to Capital One lounges or at Plaza Premium partner lounges. It also offers other benefits such as extended warranty and purchase protection, collision damage waiver and roadside assistance for car rental, trip cancellation and interruption insurance, 24-hour travel assistance 24/7 and access to the Capital One Travel portal and the Capital One Experiences program. Benefits only available to accounts approved for the Visa Signature card. Conditions apply.
Capital One Venture Rewards Credit Card
Capital One Venture Rewards credit card information was independently collected by Select and was not reviewed or provided by the card issuer prior to publication.
5X miles on hotels and rental cars booked through Capital One Travel, 2X miles per dollar on all other purchases
Earn 75,000 bonus miles once you spend $4,000 on purchases within 3 months of account opening
N/A for purchases and balance transfers
Balance Transfer Fee
3% for promotional APR offers; none for balances transferred to regular APR
Foreign transaction fees
When it comes to redeeming rewards, you can use your miles to book flights, hotels, rental cars and other travel activities through Capital One Travel or transfer them to any of the airlines or Capital One hotel partners. Capital One miles can also be used as statement credits to cover past travel purchases and, although less lucrative, can be redeemed for cash back or gift cards.
Remember that to qualify for this card you need to make sure you have a decent credit score. Below, Select looks at the type of credit score you’ll need to become a Capital One Venture Rewards cardholder.
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What credit score do you need to qualify?
The The Capital One Venture Rewards credit card is one of many travel rewards credit cards offered by the issuer. For this particular card, the application page indicates that you will need to have an excellent credit score. According to Capital One, this means applicants must meet the following requirements:
- You have never declared bankruptcy or defaulted on a loan
- You haven’t been 60 days late on a credit card, medical bill, or loan in the past year
- You have maintained a loan or credit card with a credit limit greater than $5,000 for at least three years
If you’re wondering what specific credit score you’ll need to qualify for this card, Capital One won’t officially release that information. Additional reports from personal finance sites such as The Points Guy and NerdWallet, however, suggest that applicants can still qualify with good or very good credit. Since FICO counts scores between 670 and 739 as good credit scores, this likely means applicants will need to have a credit score of at least 670 to qualify.
FICO score ranges:
- Very poor: 300 to 579
- Fair: 580 to 669
- Good: 670 to 739
- Very well: 740 to 799
- Excellent: 800 to 850
Of course, this doesn’t mean that all applicants with a score above 670 will qualify or those with a lower score will be rejected, but in general, this is the score you’ll want to aim for to be considered eligible. If you’re not sure where you stand, Capital One offers consumers a pre-qualification tool, so you can see which Capital One credit cards you might be eligible for.
Credit card issuers also consider other factors such as your annual income, the length of your credit history, and the number of credit cards you have applied for recently.
FICO score factors:
- Payment history (35%) — If you made your previous payments on time
- Amounts due (30%) — Your credit utilization rate, or the ratio of the amount of credit you are using to the amount that has been extended and due on your accounts
- Length of credit history (15%) — The time you have had credit
- New credit (10%) — How often you open new accounts
- Composition of credit (10%) — Whether you have different types of credit, such as installment loans or revolving lines of credit
To increase your chances, you should also limit the number of credit card applications you submit in recent months. Although nothing specific is mentioned on Capital One’s website, a number of personal finance sites, including Forbes Advisor, have reported that applicants will not be approved for more than one credit card. Capital loan every six months.
Additionally, Capital One limits the number of personal credit cards consumers can open to two. In other words, if you already have two Capital One-branded credit cards, you probably won’t be able to qualify for the Venture Rewards credit card, regardless of how good your credit score is.
If denied, cardholders can call Capital One customer service and try to negotiate your case for approval, although you may not be successful. Mentioning important details such as extenuating circumstances that caused you to be behind on your past payments or highlighting your past loyalty to Capital One probably wouldn’t hurt.
At the end of the line
To qualify for the Capital One Venture Rewards Credit Card, you will likely need to have a good credit score of at least 670, although having a higher credit score will only improve your chances of approval.
Additional reports from various personal finance blogs and websites also suggest that Capital One has strict rules regarding the number of Capital One personal credit cards an individual can have – and the number of credit card applications you are allowed to submit within six months.
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Editorial note: Any opinions, analyses, criticisms or recommendations expressed in this article are those of Select’s editorial staff only and have not been reviewed, endorsed or otherwise endorsed by any third party.