Why I Got Venture X Business with Half a Million Spend Requirement

6/29/23 Update: Bonus posted within a day or so of meeting spending requirement. I have previously had Spark but only did the first half of the signup bonus on Spark.

Capital One Venture X Business relaunched (application requires going through a business relationship manager) on May 1st, 2023. On that day, we broke the news of Venture X Business having an insane minimum spend requirement (for attaining a full signup bonus) of half a million dollars.

Previously, to attain the full signup bonus, the spending requirement was $50,000, which is practically 10 times less than what it became on May 1st. Obviously, many people who wanted to get the card are now unable to, but I applied and was instantly approved. Here is my thought process behind why I obtained the card, even though I have no intention of spending half a million dollars on it.

First and foremost, I am aiming for the lower-tier signup bonus – get 150k miles for spending $30k in the first three months. Thirty thousand is still a massive sum but because the card earns 2x (which is at a minimum worth 2%), I don’t view it as a big deal to use more expensive (but lazy) ways to meet the spend. Now, to get a Venture X Business card, I had to cancel the Spark Cash since their terms and condition says that the signup bonus may not be “available for existing or previous Capital One Business cardholders“.

The thought of simply obtaining the card and not bothering with the signup bonus also crossed my mind. After all, Capital One essentially pays you $5 to hold the card (annual fee of $395 – annual travel credit of $300 – annual bonus of 10k points). Additionally, the business version of Capital One offers several benefits, including:

• Access to priority pass restaurants (Frequent Miler),
• Access to travel partners of Capital One (Capital One, The Points Guy),
• Similar to Spark Cash, it doesn’t report on the personal credit report (Doctor of Credit),
• Access to Capital One Lounges (Ask Shebby reviews DFW lounge on YouTube).

I suppose the case of getting the Venture X business card was also helped by the fact that Capital One has repeatedly denied me the personal Venture X card. Sidenote: Venture X no longer offers free access to Priority Pass restaurants, but unlike the business version, it provides Priority Pass benefits to all authorized users.

Ever since my departure from Citi, I have not consistently held a 2x card, except for the American Express Business Blue. I think it’s a good idea to also have a non-Amex 2x card. Additionally, having the 2x associated with a points system that has strong travel partners is helpful.

Last but not least, because I have been axed by Citi, and I am barely on good terms with Chase, it is important that I seek other programs with strong transfer partners. This will allow me to participate in various transfer bonus offer Capital One provides (Doctor of Credit). At the moment, I am particularly hoping to see a return of a 20% (or higher) transfer bonus from Capital One to British Airways (Doctor of Credit), but what would make me even happier is the return of a 40% transfer bonus through American Express on British Airways (Doctor of Credit).

Closing Thoughts

If I am to spend exactly $30,000, the total points acquired through the signup bonus and spending will make this a 7% cashback deal. This isn’t an amazing rate, but I am willing to play along with it to get access to Capital One’s program, including their travel partners.