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Capital One Officially Launches Venture X Business Card
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A business version of a popular rewards card is now available to small business owners.
About the card:
After previously being offered exclusively to customers with a Capital One Relationship Manager, Capital One has officially launched the Venture X Business card, allowing small business customers to apply online.
Like the consumer version of the card, the Venture X Business earns unlimited 2x miles on all purchases. Additionally, cardholders can earn 10x miles when booking hotels or rental cars via Capital One Travel as well as 5x miles on flights booked on the platform.
Other benefits of the Capital One Venture X Business include a $100 credit for TSA Precheck or Global Entry every four years and 10,000 bonus miles every year after your first cardholder’s anniversary. Primary cardholders also enjoy complimentary access to more than 1,300 airport lounges via Priority Pass Select. Lastly, while the card does carry a $395 annual fee, it also includes up to $300 in annual credits for bookings made using Capital One Travel.
As for what’s different with the business version, the Capital One Venture X Business is a charge card, rather than a credit card, that has no present spending limit. Instead, the purchasing power adapts to the needs of small business customers. Spending behavior, payment history, and credit profile are among the factors that will ultimately decide how much cardholders will be able to spend using the card. However, cardholders must pay off their full balance every month.
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With the launch of the Venture X Business, Capital One is also offering a sizable welcome bonus. Currently, new cardholders can earn 150,000 miles. However, to earn this bonus, they’ll need to spend $30,000 on the card within their first three months.
What they’re saying:
Announcing the launch of the card, Capital One’s chief marketing officer for Business Cards & Payments Aparna Sarin said, “Capital One continues to find new ways to bring our customers best-in-class travel products and experiences designed to meet their needs. We know flexibility is crucial for business owners, so we designed Venture X Business specifically with that in mind.”
Sarin continued, “With no preset spending limit, elevated earn and easy-to-use, high-value redemption options, this card offers the flexibility business owners crave coupled with premium travel benefits and business-grade capabilities.”
My thoughts:
Like the consumer version, the Venture X Business card has a lot to offer. For one, between the annual travel credit and bonus miles that arrive on each cardholder’s anniversary, the annual fee is essentially covered. Plus, the 2x miles on everything structure makes it easy for small business owners to earn points without needing to think much about what category their purchase falls under.
At the same time, it’s interesting that Capital One decided to make this a charge card. Although that might work for some businesses (and does help them save money on interest), others might prefer a more traditional credit card. Also, while lucrative, the welcome bonus does require a high minimum spend. Ultimately, though, the Capital One Venture X Business could be a winner for the right small business owner.
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