If you’re interested in applying for the Capital One Venture X card, it’s best to ensure your credit score is up to the task.
When some of the most popular travel credit cards focused on adding as many third-party statement credit benefits as possible – and upping their annual fees, in some instances – Capital One chose a different approach.
In November 2021, the issuer launched the Capital One Venture X Rewards Credit Card. At a comparatively modest annual fee, the card advertises some of the most desirable travel perks, such as an annual $300 Capital One Travel credit, a 10,000-mile annual bonus, Global Entry or TSA PreCheck credits and a complimentary Priority Pass Select membership. All of this and more comes for just $395 per year – compared to $550 on the Chase Sapphire Reserve and $695 on The Platinum Card® from American Express.
See related: Capital One Venture X vs. Amex Platinum Card
Does the lower fee mean it’s easier to get the card? Not necessarily. You still have to meet the issuer’s credit requirements, which can be rather steep.
Read on to learn what credit score you need to qualify for the Capital One Venture X and what you can do to improve your approval chances.
What credit score is needed for the Capital One Venture X?
According to Capital One’s website, potential cardholders need an excellent credit score to qualify for the Capital One Venture X.
This means your FICO score needs to be at least 800 (or your VantageScore 781) for Capital One to approve you for the card.
That’s a steep requirement. According to Experian data, the average FICO score in the U.S. was 711 in 2020. Keeping that in mind, one could assume most Americans wouldn’t qualify for the Capital One Venture X card.
However, it’s important to remember that while your credit score is a crucial factor, it’s not the only one lenders consider when reviewing your credit card application.
An issuer can look at your overall credit history, your debt-to-income ratio and other data to evaluate the risk of approving you. Plus, your existing relationship with the bank might sometimes play a role.
For example, some of our staff who have been banking with Capital One for years were able to get the Capital One Venture X with good credit.
That said, no situation is the same. It’s always best to ensure you meet the issuer’s advertised credit requirements to decrease the risk of card application denial.
What if my application is denied?
Even if you seemingly meet all the issuer’s requirements, including the credit score, approval is never guaranteed.
In case you’re denied due to the information on your credit report, Capital One will send you a letter explaining the reason for rejection. Whether it’s your credit score, certain negative items on your credit report or a high credit utilization ratio, you’ll get an idea what you should work on.
If you believe there’s been a mistake or would like a chance to plead your case, you can call the Capital One reconsideration line. Before you do, check your credit report for errors which may have impacted your approval odds. If something doesn’t look right, it may be a good idea to mention it to the issuer when you call – and dispute it with credit bureaus.
Alternatively, you can look into other Capital One credit cards.
For example, if you have good credit, you may qualify for the Capital One VentureOne Rewards Credit Card, the only no-annual fee option in the Venture card family. The card doesn’t offer premium perks but earns a solid 1.25 miles per dollar on all purchases.
How can I improve my score to get the Capital One Venture X?
If your credit score is stopping you from getting the Capital One Venture X card, there are a few things you can do to improve your credit.
First things first: Pay down balances on your existing credit cards. A credit utilization ratio – how much debt you carry compared to your credit limit – is one of the most influential credit factors. The lower the ratio, the better for your credit. Ideally, you want to make it a habit to pay off your credit cards in full every month.
It’s also critical to not miss your payment due dates. Late and missed payments are detrimental to your credit health and stay on your credit report for seven years.
Further, try to limit your credit card applications for a while. This will help you avoid additional hard inquiries, which can negatively impact your credit score for up to a year. Plus, each new credit card reduces the average age of your credit accounts, which is also not the best news for your credit.
Building excellent credit takes time and patience, but it may be worth the work. Once you reach the highest credit score tier, rejected credit card applications will become a rare occurrence.
However, this excellent credit card product also requires an excellent credit score.
If you’re not sure whether you’ll be approved for the Capital One Venture X card and would rather not risk a hard inquiry, check CardMatch. This handy tool shows you credit card offers matched to your credit profile without any impact to your credit. While the final approval is always up to the issuer, if you see the Venture X in your matches, you have a good chance of getting the card.