As you’ve probably heard, Capital One increased the welcome bonus on the Capital One Venture Rewards Credit Card. This makes the card pretty irresistible, but there is a caveat: Capital One application rules may restrict who qualifies for the card.
While it’s not quite Chase 5/24 territory, Capital One has several rules that might impact your eligibility for a new credit card. Rather than applying and taking a credit score hit, it’s best to familiarize yourself with Capital One application rules like the Capital One 48-month rule beforehand.
There’s no guarantee of approval, but you’ll at least eliminate barriers that could cost you a sign-up bonus. Here’s an in-depth look at all the Capital One application rules you should be aware of and possible recourse if you get rejected for a new card:
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Capital One application rules
Understanding Capital One application rules is key to getting your credit card application approved. If you familiarize yourself with these rules, you’ll avoid unnecessary rejections and credit score drops.
Capital One application rules restrict both credit card approvals and welcome bonus eligibility. You can find some of these restrictions spelled out on every credit marketing page.
However, some rules aren’t publicly disclosed but derived from reports on sites like FlyerTalk and Reddit. Some of these Capital One application rules change over time and aren’t always enforced. You’ll even come across data points online that contradict many of them entirely. So you can use this as a guide rather than a strict policy document.
To help you navigate this confusing landscape of Capital One application rules, here’s a breakdown of everything you should know about:
Capital One credit score requirements
Capital One is pretty transparent about credit score requirements for their cards. In fact, this information is clearly stated on each Capital One credit card page (usually right under the welcome bonus or card image). Here’s an example of where the credit score requirement appears on the Capital One Venture card page:
The Capital One Venture Card requires excellent credit, defined as a score between 800-850 points. Meanwhile, the Platinum Mastercard® from Capital One requires fair credit, which is in the 580-669 range.
Capital One six-month rule
It’s long been reported that Capital One won’t approve more than one credit card application every six months. So if you’ve applied for another Capital One card (business or personal) since January, you may not be approved for another one right now.
How strict is the Capital One six-month rule? Not very strict apparently, because some recent data points contradict it.
You can find your last Capital One credit application by checking your credit profile or calling customer service.
Capital One five-card rule
At one point, reports indicated that Capital One only allows two personal cards at a time. So, if you had a Capital One Venture X Rewards Credit Card and a Capital One SavorOne Cash Rewards Credit Card, you wouldn’t be approved for a Capital One Venture Card, though you would still be eligible for a Capital One Venture X Business.
That seems to have changed because many data sets now confirm that you can have up to five Capital One credit cards at a time (assuming you meet the approval criteria).
Capital One 48-month rule
Capital One generally won’t approve you for a personal card if you’ve received the welcome bonus in the past 48 months. So, if you’ve had a Capital One Venture Card in the past four years, you might want to determine the exact date to ensure you’re not disqualified from another welcome bonus.
If you’ve had a Capital One Venture credit in the past four years and want to apply for the new elevated bonus, you might want to determine the exact date to ensure you’re not disqualified.
Two cards in 30 days
Capital One has been known to factor recent credit inquiries into credit application decisions. If you’ve applied for several credit cards in the past few months, your Venture Card application may get rejected.
Additionally, if you’ve applied for two or more Capital One cards in the past 30 days, you won’t be eligible for another card.
Capital One pre-approval tool
With so many Capital One application rules, you might be tempted to roll the dice and hope you get lucky like some folks did. But if you want an easy way to determine if you’re eligible for a new Capital One card, there’s a simple solution: use the Capital One pre-approval tool.
The tool conducts a soft pull to determine if you’re eligible for a new Capital One credit card. You still need to provide your social security number but it won’t impact your credit score.
It’s the best way to navigate uncertainty, avoid violating an unspoken rule, and more accurately determine your eligibility.
What to do if you get rejected under Capital One application rules
Sometimes, you’ll get denied for a credit card despite following all the Capital One application rules. Often, Capital One will send you a letter detailing the reason for the rejection and give you up to 30 days from the application date to request a reconsideration without another credit pull.
My advice is to be proactive and call Capital One right away at 1-800-625-7866. Ask them for more information on why your application was denied, and then advocate for yourself. Sometimes, Capital One won’t approve your application because of too many recent credit inquiries.
If that’s the case, explain that you’re doing this to build your credit and have made all your payments on time. The agent may decide you’re creditworthy after all and approve your application.
It may also happen if some of the information you provided on your application is incorrect or doesn’t match your credit profile. You may also get rejected due to a security freeze on your credit report.
Capital One pulls your credit score from all three bureaus, so you won’t be approved for a new card if even one has a freeze.
If the decision comes down to an error on your credit report, you’ll want to take care of it as soon as possible. You can do that online by visiting the credit bureau’s dispute portal:
How to apply for a Capital One credit card
You can apply for a Capital One credit card by visiting the bank’s website and finding the card that best suits your needs. There are different options depending on what you’re looking for: Cash-back rewards, flexible travel rewards, business cards or student cards.
At the moment, Capital One is offering an elevated welcome bonus for the Capital One Venture Rewards Credit Card. In addition to the 75,000-mile bonus after $4,000 spent within three months, cardholders receive a $250 Capital One Travel credit. With the rising cost of travel (domestic and abroad), this card’s welcome bonus can save you $1,000 or more on travel.
Once you’ve picked a card, simply hit the “apply” button and provide your personal information: Name, address, social security number, date of birth and income information.
Once you submit your application, you’ll either get a decision right away or Capital One might need more time to review it. In the case of the latter, processing could take another 7-10 days. You can get around this by calling Capital One to ask about your application and provide any information the might expedite the approval.
Frequently Asked Questions
What is the Capital One 48-month rule?
The Capital One 48-month rule restricts welcome bonuses if you’ve received one in the past 48 months. You generally won’t be approved for a personal card if that’s the case.
What is Capital One’s 1/6 rule?
The Capital One 1/6 rule means you can only get approved for one Capital One card every six months. If you apply for more cards within six months, your application will likely be denied.
How long do you have to wait to apply for a Capital One card again?
It’s generally best to wait six months before applying for a Capital One card again. During this period, keep your credit in good standing by paying your debts on time and maintaining a low utilization rate. If you want to get the same welcome bonus again, you might have to wait 48 months.
How often can I get a Capital One credit card?
You can get a Capital One credit card every six months. You can’t have more than two personal cards or receive the same welcome bonus more than once within 48 months. You also won’t be approved if you’ve applied for more than two cards in 30 days.
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