Capital One Venture X DENIED but they’ll allow me to upgrade my Venture card… what gives?

[Sporky]

Title explains it all. I have a Venture card with a $40k limit and was denied a Venture X card. However, Capital One will let me upgrade my Venture card to a Venture X (no bonus though). Any chance for a reconsideration? Any thoughts on why this would happen?

[Hoben02]

They don't want to give you another bonus, however you run enuf spend they want to keep you around. I used to have the cap one venture and I would run my mortgage payment thru them using plastiq after it closed down I didn't use the card that much and decided to close the card. Anyways, when it came around to the cap one venture x they denied me becuz too many open accts. Now the best I can do with a cap one prequal is a secured card and believe me I've never needed one so you decide if you want to call there bluff

[GZG]

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@Sporky wrote:

Title explains it all. I have a Venture card with a $40k limit and was denied a Venture X card. However, Capital One will let me upgrade my Venture card to a Venture X (no bonus though). Any chance for a reconsideration? Any thoughts on why this would happen?

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No recon, sadly.

Ideas why:

You're at their maximum limit of credit they're willing to give you

They don't want to hand out a card for it to not be used once you hit the bonus 

If you really want it, accept the PC and use it as you were going to. 

[BronzeTrader]

It is hard to figure out Capital One.

I did not have Cap1 one before.  Years ago, it kept sending the mailers for its cards, every week.  When I applied, they ding'ed me for no reason.  That happened a couple of times.  So I used like 5 HPs on Cap1 cards.  Then finally it approved me for the Venture card with 100,000 bonus.  I spent like 6 HPs for that card.  When I applied for the Venture X card early this year with the 100,000 bonus again, it was an instant approval and one of the highest credit line.  

Now we have 3 Cap1 Venture X cards in the family.  All instant approvals with high CLs.  So it seems Cap1 is happy to push the Venture X cards than others.  

P4 had a Venture card.  We tried to product change it to Venture One after AF posted.  But Cap1 would not do.  So we had to close it.  Then Cap1 sent new offers seeling a coming back.  Do not want to waste a HP now.  Wait for better bonus.

There is not much you can do with Cap1.  If it wants you, the gate is open.  If it does not want you, it is no use to call.

[WasteMgmt]

CapitalOne is really odd at times. They seem to favor people with few accounts and want you to do the majority of spend with them. I have seen so many different DP with great accounts get denied. If you really want the card then I say go for the PC. If not take your business elsewhere, which is prob how I would feel.

[CreditCuriosity]

As mentioned above they know you are after bonus and likely don't want to pay said bonus.  Why many people with 800 scores you can read about day and night get denied for said card as they know people are just applying to collect bonus then will SD and cancel before AF hits again majority of time as many better cards exist.

[OmarGB9]

Likely they don't want to extend more credit and/or they don't want to be churned. Them only offering PCing makes sense.

And no recons with Cap One.

[OmarGB9]

Likely they don't want to extend more credit and/or they don't want to be churned. Them only offering PCing makes sense.

And no recons with Cap One.