Capital One Just Changed the Game — And It’s Not Great News for Signup Bonus Fans
Hey friends, what’s up? Phillip here with Points with Phillip, and today we’re talking about a major policy shift from Capital One that could change how you earn miles moving forward.
Capital One Adds “Family Language” to Venture Card Applications
Capital One just made a huge update to its credit card terms — and it’s not one that’s going to make points enthusiasts happy.
As of this week, both the Venture and Venture X cards now include “family language” in their terms and conditions. That means:
“You are not eligible for this product if you have received a new cardmember bonus for the Capital One Venture card or the Capital One Venture X card in the past 48 months.”
In other words, if you’ve earned a signup bonus on one of these cards in the last four years, you’re locked out from earning another on the other card.
Why This Is a Big Deal
Until now, you could earn multiple signup bonuses across the Venture family.
Here’s what the old system looked like:
VentureOne: usually 20,000–40,000 miles
Venture: typically 75,000 miles for a $95 annual fee
Venture X: also around 75,000 miles, with a $395 annual fee
That meant you could earn nearly 200,000 miles total across the product line — a nice haul for anyone building up Capital One miles.
Now? That’s gone.
You can only get a signup bonus for one Venture family card every 48 months.
A Quick Refresher: What Each Card Offers
Venture Card ($95 Annual Fee)
2X miles on every purchase
Global Entry or TSA PreCheck credit
Simple flat-rate earning structure
Decent everyday card for people who don’t like category tracking
Venture X Card ($395 Annual Fee)
$300 annual travel credit through Capital One Travel
10,000-mile anniversary bonus
Priority Pass + Capital One Lounge access
2X on all purchases, 10X on hotels/rentals through the portal
Authorized users are free — though that’s changing next year (more on that below)
If you valued your miles at 1 cent each, that’s roughly $400 in annual value, making the Venture X one of the more “net-neutral” premium cards out there.
Lounge Access Changes Are Coming Too
Starting in 2026, Venture X cardholders will no longer be able to grant free lounge access to authorized users.
Authorized users can still make purchases for free, but if you want them to enjoy lounge access, you’ll have to pay a separate fee per user.
That might not be a dealbreaker, but it’s another example of Capital One tightening things up after a few years of extremely generous perks.
Why This Might Not Matter for Everyone
Now, here’s the flip side.
Capital One has never been as popular among hardcore churners as Amex or Chase. The bank is famously selective about approvals, and they tend to prefer long-term loyalty over rapid churn.
In other words, Capital One doesn’t really want you opening three of their cards in a year just to grab the bonuses — they want you to use their cards, maybe even bank with them, and carry a relationship across multiple products.
So for most of the credit-card community — the ones already holding the Venture or Venture X — this probably doesn’t change much. You likely weren’t getting approved for both anyway.
But it does make Capital One less appealing for those of us who play the signup bonus game strategically.
My Take: Capital One’s Value Has Always Been Limited for Churners
Personally, I like Capital One — but they’ve never been my main source of points.
This year alone, I’ve earned around 35,000–40,000 Venture miles just from spend. Compare that to the 1.1 million points I’ve earned from American Express, mostly from signup and upgrade bonuses, and you can see why Capital One simply can’t compete in that category.
Between limited transfer partners, few high-value bonuses, and a smaller overall ecosystem, Capital One has always been the “steady earner,” not the “massive multiplier.”
This new rule just reinforces that.
Citi News: The Strata Elite Saga Continues
And speaking of messy policies… let’s talk about Citi for a minute.
The Citi Strata Elite launched with a 75,000-point public offer, and a 100,000-point in-branch offer — the better deal, but only available if you had a physical Citi branch near you.
The problem? Many people don’t. So, applicants began emailing or using referral links posted on Reddit and Discord to access that higher 100K offer.
Now, Citi is reportedly shutting down some of those accounts, claiming users “fraudulently” applied through links not intended for them.
That’s… not great.
If you ask me, the fault lies with Citi here. If your process for giving out a bonus is so confusing that people have to crowdsource a workaround, that’s a you problem. Using a publicly accessible link with your own personal information isn’t fraud — it’s just smart internet behavior in 2025.
Banks can’t expect consumers to play by rules they don’t make clear.
Final Thoughts
So what’s the takeaway here?
Capital One is tightening its bonus game. No more double-dipping between Venture and Venture X.
Citi continues to trip over its own red tape, punishing consumers for navigating their confusing system.
And meanwhile, American Express and Chase are still leading the way in flexibility, rewards, and bonus strategy.
At the end of the day, these changes just reinforce why it’s so important to stay informed — and to always read the fine print.
Thanks so much for reading, and let me know what you think:
Does this Capital One policy change impact your credit-card strategy? Or were you already moving your focus to Amex and Chase?
Drop your thoughts in the comments, and I’ll catch you next time.
Until then — keep earning, keep learning, and travel more with points.
— Phillip ✈️