A bus capture circuit captures digital signals applied on respective lines of a bus. The bus capture circuit includes a clock delay circuit that generates an internal clock signal responsive to an external clock signal. The internal clock signal has a fixed delay relative to the external clock signal and is applied to clock a plurality of latches. Each latch latches a digital signal applied at the input terminal responsive to the internal clock signal from the clock delay circuit. The bus capture circuit further includes a plurality of signal delay circuits, each being coupled between a respective bus line and the input terminal of a respective latch. Each signal delay circuit develops a delayed digital signal having a delay time relative to the digital signal applied on the corresponding bus line, and applies the delayed digital signal to the input terminal of the corresponding latch. A control circuit adjusts the delay time of each signal delay circuit as a function of the data eye of the digital signal applied on the input of the signal delay circuit. The corresponding latch successfully latches the delayed digital signal output from the corresponding signal delay circuit. The bus capture circuit may also operate in a monitoring mode during normal operation of a packetized memory device to detect shifts in the data eye of an external command clock signal applied to the packetized memory device and adjust the delay time of all signal delay circuits when such a shift is detected.