Capital One Venture X 100K Offer Still Available—But New Restrictions Apply
The Venture X 100K Offer Remains Strong
Capital One’s premium travel card continues offering 100,000 bonus miles for new cardholders—one of the most valuable welcome bonuses in the premium card space. But recent policy changes mean the window for maximizing this card’s value is shifting.
If you’ve been considering the Venture X, here’s what you need to know about the current offer and upcoming restrictions.
Current Welcome Bonus
Offer: 100,000 Capital One miles after spending $10,000 in the first 6 months
At Capital One’s standard 1 cent per mile redemption, that’s $1,000 in travel value. Transfer to the right airline partners and you can extract significantly more.
The 6-month spending window is generous compared to cards requiring $4,000-$6,000 in just 3 months. At roughly $1,667 per month, this requirement is manageable for most regular spenders.
The Effective $0 Annual Fee
The Venture X’s value proposition centers on its credits:
| Item | Value |
|---|---|
| Annual Fee | -$395 |
| Travel Credit | +$300 |
| Anniversary Miles (Year 2+) | +$100 (10,000 miles) |
| Net Cost | ~$0 |
In year one, you pay $395 and receive $300 in travel credit for an effective $95 cost. Starting year two, the 10,000 anniversary miles push you to break-even or positive.
No other premium card achieves effective $0 cost with comparable benefits.
New: 48-Month Bonus Restriction
Capital One recently introduced a 48-month rule similar to Chase’s Sapphire restriction. You cannot receive the Venture X welcome bonus if:
- You’ve received a Venture X bonus in the past 48 months
- You’ve received a regular Venture card bonus in the past 48 months (family card restriction)
This is a significant change from the card’s launch period, when repeat bonuses weren’t explicitly restricted.
What This Means
If you earned a Venture X bonus anytime since late 2021, you may be ineligible for another. For first-time applicants, this doesn’t affect you—but it closes the door on future bonus cycles for at least four years.
Lounge Access Changes Coming February 2026
Capital One has announced changes to lounge access for authorized users:
Current Policy (Through January 2026)
- Primary cardholder: Unlimited Capital One Lounge access
- Authorized users: Complimentary lounge access
- Up to 2 guests per visit
New Policy (February 2026+)
- Primary cardholder: Unchanged—unlimited access
- Authorized users: Lose complimentary access
- Authorized users must pay per visit OR pay $125 annual fee for access
For couples or families who added authorized users specifically for lounge benefits, this is a meaningful downgrade. You’ll need to decide whether the $125 annual fee per authorized user makes sense.
Transfer Partners: 15+ Airlines
Capital One miles transfer to a solid roster of airline partners at 1:1 ratios:
| Partner | Alliance/Notes |
|---|---|
| Air Canada Aeroplan | Star Alliance |
| Virgin Atlantic | Delta partner |
| Singapore Airlines | Star Alliance |
| British Airways | Oneworld |
| Turkish Airlines | Star Alliance |
| Japan Airlines | Oneworld (recently added) |
| Emirates | Gulf carrier |
| Avianca LifeMiles | Star Alliance |
| Cathay Pacific | Oneworld |
| Qantas | Oneworld |
Notable Sweet Spots
Air Canada Aeroplan: Excellent Star Alliance awards with free stopovers. A round-trip business class to Europe can book for 70K-90K miles.
Virgin Atlantic: Transfer here to book Delta flights (often with better availability than Delta’s own program) or ANA business class to Japan.
Turkish Miles&Smiles: Low redemption rates for Star Alliance flights, especially to Europe.
Missing Partners
The Venture X lacks hotel transfer partners beyond small regional programs. If you want to transfer to Hyatt or Marriott, Chase cards are better positioned.
Capital One Lounges
Capital One has built some of the best credit card-accessible lounges in the country:
- Dallas-Fort Worth (DFW)
- Denver (DEN)
- Washington Dulles (IAD)
- New York JFK
- Las Vegas (LAS)
These lounges feature restaurant-quality food, premium cocktails, and design that rivals airline premium lounges. If you frequently fly through these airports, the lounge access alone can justify the card.
Priority Pass is also included for airports without Capital One’s own lounges.
Should You Apply Now?
Yes, Apply Now If:
- You’ve never had a Venture X or Venture bonus
- You fly through Capital One Lounge airports
- You want a premium card with effectively $0 annual cost
- You can meet $10,000 spend in 6 months
- You value simple 2x earning on everything
Wait or Skip If:
- You received a Venture/Venture X bonus within 48 months
- You’re adding authorized users primarily for lounge access (changes coming)
- You prefer Hyatt transfers (Venture X doesn’t offer this)
- You can’t reasonably spend $10,000 in 6 months
Key Takeaways
- 100,000 mile bonus after $10,000 spend in 6 months remains available
- $395 annual fee effectively becomes $0 with credits
- New 48-month rule restricts bonus eligibility for 4 years
- Family card restriction blocks bonuses if Venture bonus received within 48 months
- Lounge access changes February 2026—authorized users lose free access
- 15+ airline partners at 1:1 transfer ratios
- Capital One Lounges at DFW, DEN, IAD, JFK, and LAS
Frequently Asked Questions
Is the 48-month rule applied per card or across the Venture family?
It applies across the Venture card family. If you received a Venture (non-X) bonus, you’re blocked from the Venture X bonus for 48 months, and vice versa.
Can I still add authorized users for the lounge benefit?
Yes, through January 2026. After February 2026, authorized users will need to pay $125/year or per-visit fees for Capital One Lounge access.
How do the Capital One Lounges compare to Priority Pass?
Capital One’s own lounges are significantly better—restaurant-quality food, premium drinks, and modern amenities. Priority Pass options vary widely from excellent to mediocre depending on the airport.
Does the Venture X count toward any rules like 5/24?
Capital One doesn’t have a 5/24-style rule. However, they do pull all three credit bureaus for most applications, resulting in three hard inquiries.
Can I transfer miles to hotel programs?
The Venture X has limited hotel transfer options—no Hyatt, Marriott, or Hilton. For hotel transfers, Chase Ultimate Rewards or Amex Membership Rewards are better choices.
Disclaimer: Credit card offers and terms change frequently. Verify current welcome bonus, transfer partners, and lounge access policies on Capital One’s website before applying.