The Capital One Spark Travel Elite credit card is transitioning to the Venture X branding. The exclusive business travel rewards card from Capital One will change names this week but isn’t available to just anyone. Here’s what we know about the upcoming Venture X Business Card:
Capital One Transitioning Spark Travel Elite to Venture X
Capital One is now rolling out a business version of its popular Venture X rewards credit card. The Capital One Spark Travel Elite Card is rebranding as the new Capital One Venture X Business Card, with the change expected sometime this week.
Here is what is known about the new Capital One Venture X Business Rewards Card:
- Earn unlimited 10X miles on hotels and rental cars booked through Capital One Travel
- Earn 5X miles on flights booked through Capital One Travel
- Earn unlimited 2X miles on all other purchases.
The welcome bonus offer with the Venture X Business Card will be the same as the Spark Travel Elite. New cardholders can earn 50,000 miles after spending $10,000 on purchases in the first three months and 200,000 miles after spending $50,000 on purchases in the first six months of card membership.
The rewards with Venture X are designed to make maximum use of the bank’s new travel portal, Capital One Travel. Powered by the Canada-based travel website Hopper, Capital One Travel proactively checks Expedia, Travelocity, and more and gives you the best price.
The Venture X Business Card will feature an annual fee of $395, with complimentary employee cards. Companies can set customized spending limits for employee cards and see transactions as soon as they post.
No Preset Spending Limits
Like the recently launched Capital One Spark Cash Plus, the Venture X Business Card will not have an APR, operating much like a charge card. Unlike traditional business cards, the card will not offer a preset spending limit. The card adapts to a company’s needs based on spending behavior, payment history, and credit profile.
Because the card has no spending limit, it also features no set APR on purchases. With no APR, the full balance on the card is due every month. If the entire balance is not paid, businesses are charged a 2.99% monthly late fee for the unpaid balance.
Capital One Relationship Manager Required
Interestingly, the new Capital One Venture X Business Card will not be available to anyone. Instead, the card will only be open to those companies through their Capital One Relationship Manager. Relationship Managers are a liaison between the company and Capital One Bank, helping to arrange accounts, loans, and other credit products.
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Featured image by Capital One
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