ayodeji13

something like you email them a copy of your ff account status, and i'll they'd match the miles in that account w/ C1 venture miles up to 100k for new c1 venture card holders

LBJFlight23

if you cancel your card, bye bye miles.

sent

There are 0/0 checks floating out there? Hmmm, maybe I will hold on to this card then and make it my secondary card. I do like the ease of using the points and the no forex fee. Doing the math, the minimum spend on this card is $2950 in order to make the points earned equal the annual fee.

cruisr

I had a airline tkt that I canceled and had a large credit balance on the card. I called to get a check issued. I only have 200 points in the account as I use them. The CSR's first question was, "Do you want the money because you are closing the account'? I told him "No" and he seemed very relieved. Maybe they are expecting a bunch of card xls after the first year is up. I think I'll keep it up but switch to a no fee when the time comes.

I want another crack at the 100K promotion with a business card if it ever comes out.

Stubtify

I'm sure they will come up with something when all the cancellations come in. I expect most of us here applied at roughly the same time. The promo only ran for 1 month or so if I remember, so everyone's anniversary should be pretty close. So far this year I'm 3/3 in getting AF's waived. The only remaining one I have is the Cap1 Venture card. If they don't waive I'll downgrade.

eknock007

I plan on keeping my personal and canx my business. Have over 250k miles I need to do something with. I will try and have the AF waived or partially waived. Still use mine regularly.

UserMark

Capital One did not offer me a thing and processed the cancellation.

johndoe123

if youre not one of the tuypethat only redeems for premium cabin international travel, this card essentially offers 2 percent cash back redeemable for travel which is a very good deal.

Happy

If you are satisfied with a 2% cash rebate equivalent then this card might work for you, though the annual fee would make that you would need to spend enough first to make it break even first.

With Citi / Chase / AMEX all are willing to waive annual fee to certain degree, C1 should follow suit otherwise it would lose most of the customers it gained via that campaign last year. (Note that Chase being the last one finally joins in to waive annual fee from a hold out for the longest time, one can sense that Chase has a change of heart - to retain market share is more important than the short term annual fee income.)

Even if you dont redeem your airline miles / hotel points for premium products, one can easily get above 2 pennies worth for the airline miles / hotel points using the real loyalty program instead of the phoney miles, if you redeem your airline miles in an effective way. Personally I have never had a coach award redeemed with airline miles that is below the 3 to 4 pennies level. Sometimes significantly higher. It all depends on your own travel pattern which would define how you redeem your airline awards.

foxberg

I'm gonna keep it. I use it a lot for business purchases that I get reimbursed for and at 2points/$ it gives me a better value then any mileage card would at 1m/$. I actually canceled my Aadvantage MC earlier this year.

jjmiller69

+1

thehawk75

My hunch is we're going to start to hear about C1 retention offers very soon

johndoe123

While I'll save the points for the signup bonuses, I've found most of my point redemptions are in the 2-3 cent range. I've had some that are higher where I've really tried, such as last minute international coach, but it's not without it's limitations. I've had some that are lower too.

The C1 based solution offers unrestricted redemption on any product. Additionally, you earn miles/EQMs with your redemption which add to the value. Most importantly, as an elite, I actually get my upgrades, and my EQMs.

While there is an annual fee, it's not outrageous unless you spend under 15k on the card in a year, in which case it's probably a poor choice.

It all depends what scenario you're in, but if you're trying to plan a family vacation in advance, to a particular destination, with inflexible dates (work), sometimes miles just don't work out .

We'll see how the annual fee plays out... My gut instinct though is FTers were less than 1-2% of the total C1 application pool anyways.

As put best by capital one themselves:

Since the offer was made in March, the company doesn't yet know how many customers will stay with the card once the first-year waiver of the $59 annual fee expires, but it expects the "vast majority'' to continue using it, said Shane Holdaway, a managing vice president at Capital One.

A "small but active group samples everybody to get free deals," but most consumers don't have the time to research lots of different programs, Mr. Holdaway said.

"The folks who go after these programs are pretty savvy, he said. "They know what they are doing."

srdshelly

Just to make sure I was clear, there is no fee to use the check and it counts as a "purchase" on the account, so there is no interest as long as you pay off monthly. The "purchase" does not accrue points, of course, but since I'm receiving the 0% checks monthly I simply roll them over. So in month one I put $6,000 in the bank shortly after my closing date on the card. In month two I put another $6,000 in the bank, which a few weeks later pays off month one. Month three pays off month two, and so forth. As long as the checks keep coming I can keep $6,000 invested and pay no interest on the account. The rest of my $17,500 credit limit can be used normally for everyday activity. The checks have been coming for several months now, and I have already received some dated for use as far ahead as March 29, so I know I can keep doing this through at least my payment due date in May if I wish.

Happy

So in other words you can have both months checks unpaid at the same time, but pay off the 1st month's checks by due day?

We keep receiving these checks as well - 2 or may be 4 checks in each mailing though I shredded them immediately. One card has $30K CL, which can be interesting if the current interest rate is not so pitiful... Based on the C1 checking account interest at 0.75%, a $30K deposit at a full 30 days would generate a pitiful $18xx pre tax... but it would at the same time jacks up the utilization rate to skyrocket level and therefore having adverse effect on one's score... If one pays off the balance before statement date, it cuts down the duration of the usage of free money, making the gain even less than the $18xx pre tax...

I may be missing something but it seems lots of effort for very little gain.... unless one has the skill and luck to turn this into much bigger return (with some risk elements naturally).... I admit that these checks seem to be useless to us, especially taking into consideration that we are out on a long trip every other month basically.