You can downgrade the Capital One Venture Rewards Credit Card ($95) to the Capital One VentureOne Rewards Credit Card ($0) or to the CapitalOne Quicksilver ($0).Ĭapital One Savor Cash Rewards Credit Card ($95) You can downgrade the Capital One Venture X card to either the Capital One Venture Rewards Credit Card ($95) to the Capital One VentureOne Rewards Credit Card ($0)Ĭapital One Venture Rewards Credit Card ($95) Watch Now Downgrade options for Capital One credit cards Learn when closing a credit card will affect your credit and when not. Some cardholders are not able to downgrade their Capital One credit card. Not always available: Downgrades are not always available.So it’s definitely worth asking for the waiver first. But it’s important to note that Capital One very often offers an annual fee waiver if you agree to keep the card open as-is, and you have a perfect payment history. Why they want you to close the card rather than downgrade it, I don’t know. If you choose to downgrade the card then Capital One will not give you a refund for the annual fee even within the 30 days. You can get an annual fee refund only if you close the card within 30 days of when the annual fee was charged. Annual fee refund: Capital One acts very strangely in regards to annual fee refunds.Credit score: Your credit score will not be affected in any way when you downgrade a credit card.Rewards: You will not lose any rewards if you downgrade your Capital One credit cards.Personal to business: You can only downgrade personal cards to personal cards and business cards to business cards.
However, Capital One does have some cards that you can always downgrade to (discussed in detail below).