Is It Possible for Me to Get C1 Venture?

[zerofire]

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@LandonM wrote:

I, M18, have been looking into travel credit cards for the past couple of months because I am going on an expensive trip in May 2025, and it would help greatly to have a SUB to help pay for some of the costs. I have been looking into the Capital One Venture Rewards or Venture X because my only credit card is the Savor for Students (originally SavorOne), which I got in May 2024, so having a Venture would make it easy to transfer my cashback into miles + the other benefits (SUB, Global Entry, and 2x miles per dollar). The problem is I'm not sure if I would be approved for either one of them (currently neither is pre-approved: Only pre-approved for VentureOne for Good Credit, I don't want it because there's no benefits, and Venture X pre-approved denied due to short history). My plan is to book my transatlantic cruise and flights in mid-to-late February, so I would want to apply by late January. Do you guys think I have a chance Venture X or even the Venture? I was approved for the AMEX Delta Skymiles Gold card, so I will reapply and accept that card if there's no hope for a C1 card.

My status currently:

- 1 Credit Card (Savor for Students with $1,800 limit which I have had since May 2024, 7 months)

- 1 Hard Pull

- FICO Scores (Equifax is 707; Experian is 710)

- Annual Income: ~$20,000

- Rent: $0

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Based on what you have listed I will simplify it for you. Can you qualify for a Capital One Venture or Venture X? Yes. Can you qualify for it in the timeline that you are hoping for? No. The Venture has a $5000 minimum SL. Very rarely will they bend that amount slightly down. This means that on top of your existing $1,800 that they approved due to being a student they have to approve an extra $5k on top. Right now with an income of $20k that is quite an ask. It is especially quite an ask if the lender has a history that barely made a FiCO score. You will most likely need at least a full year to be in consideration and perhaps a bit more. Your profile is too young to be in the travel card market.

As for the AmEx Delta SkyMiles Gold that only has value if you want to be stuck with Delta. You also have to remember that after the first year it is $150, quite the hit for a person with only $20k. The category of Groceries is at 5% right now and Travel is at 4% if you play your cards right. The AmEx Delta SkyMiles Gold spitting out 2x is not going to cut it. It is a show card if you do not travel hard with Delta frequently.

[LandonM]

I just want to thank everyone for the advice I have received! I asked my mom again about her getting the Venture or Venture X and adding me as an authorized user, and she hesitantly agreed. I completely understand her hesitation regarding the card, but I did explain and show her my plans for the Venture X (she has known about this trip for months). I have my plan written below, and if you would like to provide feedback for it, I would be happy to read it.

My plan is to purchase my cruise when it goes on a discounted rate (around one month from now) which will give her the SUB. I will pay the annual fee, and after the first billing cycle she can transfer 30,000 of the miles over to my Virgin Atlantic account (1:1 mile to point ratio) since the flight is only 30,000 Virgin points (which is an incredible deal since it's an almost $800 plane ticket). I pay the £200 difference after the points with my AU card. Then I plan to apply for Global Entry using her card (which she can take the money out of my bank account after of course). I should get approved for it in less than four weeks even though it can takes months, as most people get approved in two weeks. Then the interview should be done in a timely manner as the nearest one to me is at an airport that many people don't fly from. I plan to use the $300 travel credit to book my hotel in Florida and whatever is left I will use (with the bonus miles) for my flight to Florida, where the cruise departs (and yes, unfortuntely, the $300 credit will have to be used by my mom, so she will have to book it). 

[Slabenstein]

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@LandonM wrote:

I just want to thank everyone for the advice I have received! I asked my mom again about her getting the Venture or Venture X and adding me as an authorized user, and she hesitantly agreed. I completely understand her hesitation regarding the card, but I did explain and show her my plans for the Venture X (she has known about this trip for months). I have my plan written below, and if you would like to provide feedback for it, I would be happy to read it.

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My feedback is just to say, in the stongest terms: don't do this to your mother.  She's hesitant because putting a family member's debt in your name is a very bad idea, especially when that debt is for a luxury purchase.  Whatever grand plan you have to pay her back, you're putting her in a bad position.  If you can't pay for the cruise with your own money, don't take the cruise.

[LandonM]

I have the money to pay for the cruise in savings and I currently have a job as well. I have been budgeting to make sure I have enough, so I am confident that things will go as planned. Let me know if you have any other questions.

[Patient957]

@LandonM 

I'm curious.  What's the reason you're so interested in taking a luxury transatlantic cruise? 

Most people your age can't afford and usually aren't even interested in such things.  Folks your age generally find other things to spend their money on, like cars and iphones and such.

Is it just because you think it seems fun?  Or is there some other motivation behind it?

[Slabenstein]

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@LandonM wrote:

I have the money to pay for the cruise in savings and I currently have a job as well. I have been budgeting to make sure I have enough, so I am confident that things will go as planned. Let me know if you have any other questions.

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Then I guess my question is why are you asking your mother to open a credit card for your use with her credit?  Just go on your cruise.

[LandonM]

@Patient957, I have been on a few cruises throughout my youth, and I really enjoy them! Even though I haven't traveled much, every time I have I loved it, and I hope I get to often when I get out of college and have a full-time job. I have always wanted to do a long cruise (longest has only been 5 nights), and going outside the continent would be incredible! I wanted to do a transatlantic for a couple years and thought about doing it as my senior trip would be really cool (it's a year after I graduated, but I didn't have the money nor the time off then). The cruise itself is not horribly priced for it being super long: $307 per night.

@Slabenstein, you're right. I could just book the cruise on my debit card and go, but I want to save some money especially being 18. This cruise is super expensive, and if I'm going to be spending thousands of dollars, I might as well get some rewards from it and save some money. That's why I thought about this. The cruise itself is $4,000 since I'm going alone (I'm paying double occupancy), so I would hit the SUB in the first month (I have to pay in full since it's less than 120 days out). Then my flights to Florida and from Spain would be $1,000 together. I would be able to save around $1,250 from the benefits of the Venture X (Global Entry, Flights, Hotel). I have been looking into this card since May/June. I really like the travel perks this card as to offer. It's not too complex for me to have to calculate points and make sure I'm getting my money's worthy from the annual fee either. Also, as a Capital One user, I like having everything in the same ecosystem (my savings account is also with C1). Eventually, I will branch out to other banks for cards but that's later. That's really why, it would save me so much money.

[Slabenstein]

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@LandonM wrote:

@Slabenstein, you're right. I could just book the cruise on my debit card and go, but I want to save some money especially being 18. This cruise is super expensive, and if I'm going to be spending thousands of dollars, I might as well get some rewards from it and save some money. That's why I thought about this. The cruise itself is $4,000 since I'm going alone (I'm paying double occupancy), so I would hit the SUB in the first month (I have to pay in full since it's less than 120 days out). Then my flights to Florida and from Spain would be $1,000 together. I would be able to save around $1,250 from the benefits of the Venture X (Global Entry, Flights, Hotel). I have been looking into this card since May/June. I really like the travel perks this card as to offer. It's not too complex for me to have to calculate points and make sure I'm getting my money's worthy from the annual fee either. Also, as a Capital One user, I like having everything in the same ecosystem (my savings account is also with C1). Eventually, I will branch out to other banks for cards but that's later. That's really why, it would save me so much money.

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If the cruise isn't affordable without this credit card's perks, then I'd strongly advise you to hold off and keep saving until it is affordable from your own resources.  Don't try to leverage your mother's credit for your luxury purchase.

[Patient957]

@LandonM 

I agree with @Slabenstein, but I would also add that not only is this risky for your mom but it would also be counterproductive for you by using your mom's credit as a crutch instead of building your own.  

I was your age once too, so I understand that sometimes things can feel urgent when they really aren't.  Why not keep saving and take the cruise next year when you can perhaps get your own venture card if you manage your credit well?

BTW, if you hang out here on this forum for a bit, you will realize that you will never get the folks here to endorse a plan like yours.  It's pretty much the opposite of the culture here.

[LandonM]

I appreciate you all's advice. Thank you!