The branch had no idea who a relationship manager was! - P2 had been banking there for 20 yrs
Went on Linkedin and searched for a Capital One relationship Manager
PMed and got a reply at once - and then was contacted by one
I was told the card is a credit card, but like a charge card with no preset limit as limits can be increased dynamically
There can be only 1 card like that in a person's name - so if you have a cash plus you are ineligible for this new card
ANY data points verifying this will be useful - has any one with cash plus applied and been denied for the card?
(it could also be that the relationship manager will not get credit for the account - see below)
I was told that most of us who apply directly are in the cloud as for as Relationship managers count
If the link comes from the relationship manager then I suspect the manager gets credit internally
(If there is already a "diffuse" relationship I think the manager will not get credit for the card)
So I was told to close my old Cash Plus first and then get the link and apply
My suspicion is that once this happens, I will be "linked" to this Relationship manager and future whatever accounts I have will be "credited" to this manager
In a few months the capital one link will likely be public but right now they are having someone verify a few details before link is given
My Analysis
150k for 30k spend
Cost - lost cash from 30k spend on this vs BofA = 787.50$ + 400$ fee = ~1200$
Benefit = 300 travel credit at least + goodies = real cost 900 at most
Points = 150k + 60k for spend = 1500+600= 2100$ value
Real benefit 1200$ at this level cash wise or 90,000 c / 210,000 miles = 0.44 cpm.
Next 470k spend gets 940+150k = 1090k miles
Cost of 470k spend = about 12500$
Benefit of 1090k miles = min 10900$ value - so looks like a slight loss or about 1.15cpm cost to acquire
With transfer bonuses to various airlines though, the equation can change to about 1cpm real cost