![]() There doesn’t appear to be any pronounced difference in approvals if you are employed versus self-employed. So we recommend having at least 2 years of excellent credit history (ideally, 3 years) before applying for the Capital One Venture X card. A higher income will generally help your approval odds and allow for a higher credit limit.Ĭapital One views having a limited credit history negatively, even if your score and income are both relatively high. Hot Tip: In our experience, Capital One heavily weights income on an applicant’s credit card application. So while we wouldn’t recommend racking up thousands of dollars in interest fees just to get this card, it could end up helping you out if you carry a balance. Anecdotally, it’s easier to get approved for Capital One credit cards if you sometimes carry a balance. The number of new credit cards in the last 2 years appears to be one of the strongest factors in determining whether or not you’ll be approved. And it’s absolutely critical to apply only when you feel confident you’ll get approved because Capital One performs hard inquiries on all 3 bureaus (Equifax, Experian, and TransUnion) But one of the unique aspects of Capital One is that having a high credit score alone might not be enough. In general, Capital One recommends excellent credit for its top-tier Capital One Venture X card. What Credit Score Is Needed for the Capital One Venture X Card? ![]() You can also monitor your credit data on Credit Karma for free, but because Credit Karma uses VantageScore to determine your credit score, we’d recommend using Credit Karma only to examine your credit report, not to ascertain actual your credit score. This distinction is important because lenders retrieve your FICO score when you’re applying for credit, and if you’re using your VantageScore to figure out whether you should apply for a credit card, you could be shooting yourself in the foot by referring to the wrong data.Ĭhecking your credit score is free at each of the 3 credit bureaus: Equifax, Experian, and TransUnion. ![]() This is in contrast to other scoring systems like VantageScore. In general, the industry standard is the FICO score. One of the lesser-known facts about credit is that there are many different types of credit scores. This makes up the remaining 10% of your score. Having a better mix is viewed favorably in the eyes of lenders. This makes up 10% of your score.Ĭredit mix is the types of credit you have on your credit report, including, but not limited to, credit cards, auto loans, personal loans, student loans, mortgages, HELOCs, etc. New credit generally refers to the number of hard inquiries on your account. Length of credit history is simply calculated by taking the average of all your credit cards, which makes up 15% of your credit score. If you have a combined $50,000 in available credit across all your credit cards and spend around $5,000 per month on your credit cards, that’s equal to a 10% credit utilization. This makes up 35% of your credit score.Īmounts owed simply means what percentage of your total available credit you are using per month (your credit utilization). Payment history is one of the most important credit score factors - even if you can’t pay off your bills in full every month, making at least the minimum payment every month is essential to demonstrate your creditworthiness. Best Credit Cards for Airport Lounge AccessĬurrently, there are 5 major factors that determine your FICO credit score:.Capital One Venture X vs Chase Sapphire Reserve.Capital One Venture X Travel Insurance Benefits.Capital One Venture X Credit Score and Approval Odds. ![]() Benefits of the Capital One Venture X Card.Receive up to a $100 credit for Global Entry or TSA PreCheck ®.Elevate every hotel stay from the Premier or Lifestyle Collections with a suite of cardholder benefits, like an experience credit, room upgrades, and more.Use your Venture X miles to easily cover travel expenses, including flights, hotels, rental cars and more – you can even transfer your miles to your choice of 15+ travel loyalty programs.Unlimited complimentary access for you and two guests to 1,300+ lounges, including Capital One Lounges and the Partner Lounge Network.Earn unlimited 2X miles on all other purchases.Earn unlimited 10X miles on hotels and rental cars booked through Capital One Travel and 5X miles on flights booked through Capital One Travel.Get 10,000 bonus miles (equal to $100 towards travel) every year, starting on your first anniversary.Receive a $300 annual credit for bookings through Capital One Travel, where you’ll get Capital One’s best prices on thousands of trip options.Earn 75,000 bonus miles when you spend $4,000 on purchases in the first 3 months from account opening, equal to $750 in travel.
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