Yes, you may be able to downgrade your Capital One Venture card. To downgrade a Capital One Venture card, log in to your online account and take a look at any available options. If none are present, or you'd like to explore more options, call the customer service number on the back of your card and request a product change.
You may want to downgrade a Capital One Venture card if you no longer want to pay the $95 annual fee. Or, maybe you’re not spending enough to maximize the card’s rewards. A downgrade could help you switch to a more affordable card without having to apply all over again.
Requesting a downgrade will generate a soft credit inquiry, which won’t affect your credit score. If you downgrade, all of your account information such as your credit limit, interest rates, etc. will transfer to the new card. The new card will have a new number, though. And you generally won't be eligible for any initial bonuses. Depending on the card you downgrade to, your accumulated rewards may transfer as well, but the exact terms will be stated in your downgrade offer. It’s a good idea to confirm that with the representative.
Before you go through with downgrading your Capital One Venture card, inform the customer service representative of the main reason(s) you're seeking a downgrade. If it's related to the $95 annual fee, for instance, they might be able to waive or reduce it for a year.
You should also note that you can’t downgrade from a personal card to a business or co-branded card, and vice versa.