If you’re looking to invest in the Capital One VentureOne Rewards card, you should know what kind of credit score you need to get approved.
If you’re a casual traveler, the Capital One VentureOne Rewards Credit Card can be a good card to have in your wallet. It offers flat-rate rewards on all purchases, provides the ability to transfer points to more than 15 different travel partners or redeem for travel anywhere at any time (with no blackout dates) and offers a low-interest period for new purchases and balance transfers.
One of the standout features of the card is its easy-to-navigate rewards. The VentureOne lets you book travel on third-party websites and through Capital One Travel while leaving the value of miles intact. The card also offers 5 miles per dollar on hotels and rental cars booked through Capital One Travel and 1.25 miles per dollar on every purchase.
One disadvantage is that the card lacks a few big U.S. airlines as loyalty partners. Another is that, while you can reap a generous 5 miles per dollar on hotels and rental car bookings made through Capital One Travel, you don’t get the same benefit when you buy airline tickets. If that’s important to you, a flat-rate card with no annual fee that supplies 1.5% or 2% cash back – which can be put toward all travel expenses – might be a better option than the VentureOne’s flat rate of 1.25 miles per dollar.
On the plus side, VentureOne cardholders can enjoy a 0% intro APR on purchases and balance transfers for 15 months (16.49% to 26.49% variable APR thereafter), and a decent sign-up bonus. If a new cardholder spends $500 or more in the first three months, they can collect 20,000 miles. That’s worth as much as $200 in travel purchases made via Capital One Travel.
A bonus for international travelers is that the VentureOne doesn’t charge foreign transaction fees.
Now, equipped with all that knowledge, would you like to apply for the Capital One VentureOne Rewards card? Before you fill out an application, follow along as we share with you the credit score you need to solidify your chances of being approved, what to do if your application is denied and how to bump up your credit score to get approved.
What credit score is needed for the Capital One VentureOne Rewards card?
Capital One indicates the credit level required to qualify for the VentureOne is good to excellent. On the FICO credit scoring scale, a score of 670 to 739 qualifies as good, while an excellent score is 800 to 850. VantageScore defines a good score as 661 to 780 and an excellent score as 781 to 850. FICO and VantageScore weigh scores differently, but both value responsible credit card usage.
Before entering a single piece of information on your credit card application, check your credit score. A few websites let you check your score at no cost. When you have your credit score, you’ll get a better sense of whether it’s worth it to apply for the VentureOne.
Capital One describes an applicant in its good category as someone who has:
- Not declared bankruptcy or defaulted on a loan in five years
- Not been more than 30 days late on any credit card or loan payments in the past year
For those in the excellent credit category, you need to have:
- Never declared bankruptcy or defaulted on a loan
- Not been more than 60 days late on any credit card payment, medical bill or loan payment in the past year
- Had a loan or credit card for at least three years with a credit limit above $5,000
What if my application is denied?
If Capital One declines your VentureOne application, don’t give up too soon. Typically, Capital One will send you a letter in the mail stating the reason for the denial. If you don’t want to wait, you can call the issuer directly to see if your application was approved or denied. Common reasons for a credit card application denial include low income, low credit score, a limited credit history or negative information on your credit report.
If you think its reasons are invalid, you can try calling the Capital One reconsideration line. Check your credit report first and see if there is inaccurate information listed or extenuating circumstances. If you believe you qualify for this card, it’s worth an attempt to plead your case.
If this one doesn’t work out for you and you have fair or good credit, you should consider the Capital One QuicksilverOne Cash Rewards Credit Card, which offers 1.5% cash back on every purchase (though for a $39 annual fee). Unfortunately, this card doesn’t offer a welcome bonus or 0% intro APR – however, this may help discourage you from spending more than you usually do, allowing you to focus on paying your bills regularly and in full.
How can I improve my score to get this card?
What if your credit score is below the good level? Well, you can work to polish your credit and potentially boost your credit score before applying for the VentureOne Rewards card. A couple things you can do:
- Make sure you’re paying your bills on time. Providers of credit scores put a lot of weight on your payment history.
- Reduce your existing credit card balances. Using too much of your available credit can be a negative mark in computing your credit score.
Maintaining a good to excellent credit score will give you a better shot at qualifying for the Capital One VentureOne. You’ll want to aim for a FICO score of at least 670 or a VantageScore of 661. If you aren’t at that level yet, consider putting off your application until you’ve raised your credit score – and take a look at other fair credit options.
If you’re not sure whether you’ll qualify and don’t want to risk a hard inquiry, you can use CreditCards.com’s CardMatch tool to see whether you can prequalify for the Capital One VentureOne Rewards card. It doesn’t affect your credit score, and you’ll know within minutes whether your Capital One VentureOne application stands a good chance of being approved.