There is a good chance that you have applied for more than one Venture card to get sign-on bonuses. When the time comes for the 2nd annual fee, everyone is looking for either cancelling the card or retention offers. Since Capital One cards come with a generous credit line, you should consider converting them to a no annual fee card instead of cancelling.
Easy way to Product Change Capital One Credit Cards online
Clicking on the official Capital One link will take you to the sign-in page and after you log-in to your account, you will see the following message.
My downgrade options for the Venture card
I was surprised to see the downgrade options showing up for my Venture card, which I opened in April 2024.
My downgrade options for the Venture X card
My Venture X card is 13 months old and I just paid the second annual fee.
My downgrade options for the Venture X Business card
Venture X Business Card did not present any possible options.
Conclusion
It is easy to downgrade several personal credit cards to no annual fee variants, which will help you retain the open credit line. I am happy to see a Capital One official working link that makes it easy to product change online without calling a representative.