Since Capital One has implemented a 48-month limit on its Venture Series cards, earning a welcome bonus with multiple popular Capital One cards has become more challenging.
These include the Capital One VentureOne Rewards Credit Card (annual fee of $0), the Capital One Venture Rewards Credit Card (annual fee of $95) and the Capital One Venture X Rewards Credit Card (annual fee of $395).
The new rules essentially limit the cardholder from “downgrading” in the Venture suite (as far as annual fees are concerned) if the cardholder opens a new Venture-family card and has earned a bonus within the past 48 months.
Capital One still allows those products with lower annual fees to be approved for Risk Series cards with higher annual fees, so “upward” movement in the lineup is allowed.
Full details below.
Capital One’s new risk family rules
Because this new Venture family rule limits the “downward” flow of annual fees, current Venture
This is because Venture X cardholders who have opened a $395 annual fee product or received a bonus within the past 48 months will not be able to open a VentureOne or Venture card. A Capital One representative confirmed to TPG that those who were rejected by VentureOne or Venture may be eligible for a “VentureOne Terms Modification” without receiving the welcome bonus.
Let’s break it down by card to understand how this rule relates to each product.
- If you are applying to VentureOne: If you received a VentureOne, Venture or Venture X bonus within the past 48 months, you are not eligible to receive the card or bonus.
- If you are applying for venture capital: If you received a Venture or Venture X bonus within the past 48 months, you are not eligible to receive the card or bonus. If you only opened or received a VentureOne bonus, you are eligible to receive the Venture Card and Bonus.
- If you are applying for Venture: If you opened or received a Venture X bonus within the past 48 months, you are not eligible for the card or bonus. If you only opened or received a Venture or VentureOne bonus, you are eligible for the Venture X Card and its bonus.
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Starting in 2023, Capital One limits the waiting period for cardholders to earn a welcome bonus with the same personal card to 48 months, so this new rule essentially extends that limit to all Venture-branded cards.
Additional Capital One application restrictions require you to wait six months between approval for a new Capital One card (including personal and business cards).
Related: 6 things to do after getting Capital One Venture X
Capital One Ventures Lineup Welcome Bonus
If you qualify for a new Capital One card in the Venture family, you may need to submit an application to receive one of the following welcome offers:
- Entrepreneurship No.1: Get $100 toward Capital One Travel in your first year as a cardholder (no purchase required) and earn 20,000 miles when you spend $500 in purchases within the first three months of account opening.
- Start a business: Earn 75,000 miles after spending $4,000 in purchases within the first three months of account opening.
- EntrepreneurshipX: Earn 75,000 miles after spending $4,000 in purchases within the first three months of account opening.
TPG’s October 2025 valuation puts each Capital One mile at 1.85 cents, and there are a number of ways you can maximize your rewards to make them even more valuable.
Related: The Best Credit Card Welcome Bonuses This Month
bottom line
If you already own a Venture product and received it within the past 48 months, it’s now harder to get approved for a Capital One Venture Series card and receive the bonus.
This is a particularly negative change for Venture
You can still “move up” on the Venture family ladder, starting with VentureOne and then moving on to Venture or Venture X (or from Venture to Venture X). Still, it’s important to consider any application restrictions when applying for a new card.
Related: 8 Reasons Your Credit Card Application Was Denied
