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Tuesday, July 14, 2020

Capital One® Venture® Rewards Credit Card Credit Score Requirements for 2020

Capital One® Venture® Rewards Credit Card Credit Score Requirements for 2020

credit card advice

Ashley Dull
By: Ashley Dull
Updated: October 22, 2019
Advertiser Disclosure

In the article below, we’ll take a look at the Capital One® Venture credit card score requirements for your credit report and a few other considerations. Being rejected is never any fun, but some types of rejection have more consequences than others. Getting stood up for a date may suck, but you can always french fry or ice cream that pain away. A rejected credit card application, on the other hand, will leave a hard inquiry on your credit report that can cause a dip in your credit score for up to two years.

Given the potentially long-lasting impacts, it’s generally a good idea to apply for credit cards for which you have a good chance of being approved. This is especially true with rewards cards with high signup bonuses, like the Capital One® Venture® Rewards Credit Card, which requires good to excellent credit to qualify.

Average Score | Pre-Qualify Online | Alternatives | Reconsideration

Average Score for Approval is Around 725

Since all credit scoring models tend to have their own credit score ranges, the requirement of “good to excellent credit” can be quite vague. Instead, you need to know which scoring model will be used. For the Capital One® Venture® Rewards Credit Card, it seems that Capital One uses the FICO Score 4, rather than the newer and more popular FICO Score 8.

Given some context, we now know that most approved applicants for the Capital One® Venture® Rewards Credit Card will likely have scores above 670 (the bottom of the “Good” credit range for FICO). But that isn’t the whole story; looking at reviews, it seems the average score is a much higher 725, just short of the “Very Good” range, and the highest credit limits are reserved for applicants with scores in the “Excellent” range.

Capital One® Venture® Rewards Credit Card

This card is currently not available.

Capital One® Rating

★★★★★
N/A

OVERALL RATING

N/A
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
N/A
N/A
N/A
N/A
N/A

And those high average scores make perfect sense for the Capital One® Venture® Rewards Credit Card, particularly in light of the fact that it is a Visa Signature® card, a tier higher on the Visa benefits ladder than the basic Visa Traditional card. Basically, most Visa Signature® products come with a minimum credit limit of $5,000, so you’ll need to qualify for at least that amount to be approved for the card.

If the Capital One® Venture® Rewards Credit Card‘s high average score is a bit too rich for your reports, you may find success with the issuer’s lower-tier travel card, the Capital One® VentureOne® Rewards Credit Card. While theCapital One® VentureOne® Rewards Credit Card is still marketed to the “good to excellent credit” crowd, reports indicate its average credit score is closer to the 670 mark than its sibling.

Capital One® VentureOne® Rewards Credit Card

This card is currently not available.

Capital One® Rating

★★★★★
N/A

OVERALL RATING

N/A
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
N/A
N/A
N/A
N/A
N/A

The main difference between the two cards is a lower base earnings rate for rewards and a smaller signup bonus (though the spending requirement is also lower, which may be a boon for some). Additionally, credit limits tend to be lower, as the Capital One® VentureOne® Rewards Credit Card is a Traditional Visa, rather than the more exclusive Visa Signature®.

Another thing to keep in mind when applying is that, while all credit card applications (or applications for any credit product, for that matter) result in a credit check to determine your credit risk, Capital One takes it a step further. Where most issuers check your credit report from one or two bureaus, Capital One apparently checks all three credit reports when you apply.

You Can Check for Pre-Qualification Offers Online

Although knowing your personal credit score can help you find which card you have the best chances of qualifying for, your credit score isn’t always the deciding factor. Other aspects of your credit risk, like your current utilization and credit history length, can also play big roles in whether your credit card application is approved.

If you’re at all unsure of your chances of being approved for the Capital One® Venture® Rewards Credit Card, you may want to consider checking for pre-qualification offers before you officially apply. Pre-qualification uses a soft credit inquiry that won’t hurt your credit score to match you with the best-fitting card.

Being pre-qualified for a specific card won’t guarantee your approval but it can indicate that the odds of approval are good. Similarly, not being pre-qualified doesn’t mean you’re certain to be rejected — but it’s a strong sign you should prepare for the possibility. If you fill out the pre-qualification form and don’t see a Capital One® Venture® Rewards Credit Card, for example, you may want to look at the Capital One® VentureOne® Rewards Credit Card card instead.

Another way you may be pre-qualified for a Capital One credit card is through a direct mailer from Capital One itself. As with other issuers, Capital One periodically sends unsolicited pre-qualification offers through the mail to select customers. To reply to the offer, you can simply enter the reservation number and access code from your offer into the online form.

Fair-Credit Alternatives for Middling Scores

In the event that both the Capital One® Venture® Rewards Credit Card and the Capital One® VentureOne® Rewards Credit Card are out of your credit score’s reach, you may be better off investigating alternatives with more flexible credit requirements. Cards specifically designed for those with fair credit are much more likely to approve a lower credit score than those targeting good-credit consumers.

While the credit limits will typically be lower — and the interest rates higher — with fair-credit cards than other options, you can still find some decent cards, even some that offer purchase rewards. Our top-rated list of cards for fair credit has both prime and subprime issuers, including several alternative Capital One options.

Surge Mastercard® Review

at Celtic Bank'ssecure website

FAIR CREDIT RATING

★★★★★
4.7

OVERALL RATING

4.1/5.0
  • All credit types welcome to apply!
  • Free access to your Vantage 3.0 score From TransUnion* (When you sign up for e-statements)
  • Monthly reporting to the three major credit bureaus
  • See if you’re Pre-Qualified without impacting your credit score
  • Fast and easy application process; results in seconds
  • Free online account access 24/7
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
See website for Details
N/A
25.90% - 29.99%
See website for Details
Bad, Poor Credit
Credit One Bank® Platinum Visa® Review

at Credit One'ssecure website

FAIR CREDIT RATING

★★★★★
4.7

OVERALL RATING

3.8/5.0
  • Enjoy peace of mind with $0 Fraud Liability
  • Qualified applicants will receive a card with a competitive APR and no annual fee along with 1% cash back rewards on all purchases, terms apply
  • View updates to your Experian credit score with free online access, terms apply
  • Make paying your bill easier with the ability to choose your payment due date, terms apply
  • Access your account on-the-go with the Credit One Bank mobile app
  • Never miss an account update with customizable text and email alerts
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
N/A
N/A
17.99% to 23.99% Variable
$0 - $99
Fair
Credit One Bank® Visa® Credit Card with Cash Back Rewards Review

at Credit One'ssecure website

FAIR CREDIT RATING

★★★★★
4.5

OVERALL RATING

3.8/5.0
  • Qualified applicants will receive exclusive benefits such as 1% cash back rewards on all purchases, no annual fee, and a competitive APR. Terms apply.
  • Manage your account quickly and easily from your mobile device by using the Credit One Bank mobile app.
  • Use your Apple device to make purchases securely through Apple Pay®. Apple Pay is a registered trademark of Apple, Inc.
  • Your account is safeguarded against unauthorized charges with Zero Fraud Liability at no additional charge.
  • Take advantage of free online access to your Experian credit score and credit report summary so you can track the key factors impacting your credit health. Terms apply.
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
N/A
N/A
17.99% to 23.99% Variable
$0 - $99
Fair

+See More Cards for Fair Credit

Capital One No Longer Offers Credit Reconsideration

Being turned down for a credit card can be a hard rejection to take, and the resulting hard inquiry is a reminder of that rejection that no amount of french fries can fix. And if you’re thinking that reconsideration might be the path to having that rejection reversed, well, think again; Capital One seems to be out of the recon game.

According to reports from card forums and cardholders, Capital One no longer reconsiders any applications unless there was a mistake on the application or an error occurred on Capital One’s part. Even previously successful reconsideration methods, such as emailing the Executive Office (EO), seem to fail to result in a reconsideration of any kind.

All in all, if you’re rejected for the Capital One® Venture® Rewards Credit Card, your best bet is likely to analyze your credit report for any possible red flags and work on cleaning up any questionable accounts. Once you’ve cleaned up your credit, check for pre-qualification offers to help prevent a second rejection.

Otherwise, you may be better off finding a card with more flexible credit requirements. The current credit card market is full of quality travel rewards cards, making it easy to find a good alternative.

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