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Old Mar 7, 2022 | 7:53 am
  #220  
dkerr
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Originally Posted by emcampbe
Hi…thinking of applying now before the bonus goes…never applied for a Cap1 card - used to Chase and Amex, so forgive the noob questions. Also, might book a Multiple night Air Bnb, so thinking it’s worth it and good timing to get so I can use that credit soon. Have the following Qs:

- How long does the card take to receive (assuming if approved instantly)…and is there a way to use the card before it arrives (Amex, for example, provides temp. Info so you can use it instantly).
- will taking advantage of the vacation rental credit immediately throw up any flags - honestly, it would just be good timing that I’d want to use that immediately, but not if it’s going to throw off flags - this will also be a fairly large purchase (probably around ~1K…maybe not that large, but definitely relatively so for me), so would definitely help give a good jump to the bonus threshold
- when does Cap1 typically bill the fee - just asking for what to expect, as I know Chase and Amex for example, use different methods
- While I know I can get some good use on a cost/benefit for this year, unclear about future (and definitely don’t need another lounge/PP memebrship - we already have 3 in the family…I’m still deciding on whether I want to renew CSR later this year)…any consequences to keeping for a year and then downgrading/canceling - except for perhaps the [likely short term] hit to credit score? Is there a ‘grace’ period right after next year fee billed to get a refund of it (I know Chase will refund for 30 days, for example, if canceling, or pro-rate if downgrading).
- What are geberal impressions of the travel insurance (trip delay, cancel/interruption) vis-a-vis Amex/Chase. From the bit I’ve read so far, seems to be closer to Chase, where it’s easier to trigger coverage (only portion of a purchase needed vs. while thing, etc.), but trying to get a better idea. I got an Amex last year, And honestly, a bit disappointed at the ‘hurdles’ needed for coverage , especially on such a high fee card (ie, need to leave/return to same airport, supposedly no coverage for award tickets when using the card to pay fees on said ticket, won’t cover hotel if airfare not paid for by card, etc.).

appreciate any insight into these
items, and anything general related to Cap1 for a noob.
  • I received my card by FedEx within a few days. I was expecting regular mail and didn't realize that it had been sitting on my porch for a few days before noticing it (I normally enter/exit by my garage). BUT... pay close attention on the approval page, you MAY be offered option to get a temporary number immediately which you can use for online spending. Not everyone gets this offer and if you do and miss it, it does not appear to be possible to get it (a virtual number) again until after you have the physical card.
  • I got the vacation rental credit on my first statement for a charge I made within first 2 weeks of receiving the card.
  • The annual fee was charged day after I made the first charge (maybe a coincidence, but point is it will be in your first statement).
  • I don't know about cancelling after one year. I just called to cancel my Venture card (not the Venture X) which is just short of one-year old. The whole process was automated, no human involved. As part of the process the bot informed me that if an annual fee had been charged within the last 30 days it would be refunded to the account. Before closing the account I moved my points over to the Venture X account.
  • In my experience all credit card insurance ask for lots of paperwork for any claim. My first claim was several years ago using Amex rental-car insurance (was overseas, so primary) and I was really surprised how much info they needed. In the end it was paid. Similarly with extended warranties. I don't think any one card is better than another in this regard.

For me the #1 value from points earned from Chase/Citi/Amex/CapOne is to transfer to an airline partner. So for many years had ignored C1. But when they added airline partner transfers and sweetened the deal with 2x points on everything I jumped. It is now my primary card for all non-bonus categories.

DAK.
Last edited by dkerr; Mar 7, 2022 at 2:14 pm Reason: Added comment about my experience closing Venture (non-X) card.
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